The Entrepreneurial State: Debunking Public vs. Private Sector Myths

(Paperback)

Publishing Details

Classifications

Physical Properties

Description

From one of the world's leading economists, a bestselling expose of the state's crucial role in sparking innovation and growth - and the dangers of ignoring this truth Conventional wisdom holds that innovation is the preserve of the private sector, best left in the hands of that modern day folk hero - the lone entrepreneur. In this popular tale, the role of the public sector is simply to get out of the way, at best fixing market failures, in order to facilitate our daring hero's bold, risk-taking endeavours. But what if this powerful, contemporary myth is wrong In this sharp and controversial expose, Mariana Mazzucato comprehensively debunks the myth of a lumbering, bureaucratic state weighing down a dynamic private sector, to reveal how public investments have been behind many of the greatest innovations of our time. From the technologies that make the iPhone 'smart', to biotech, pharmaceuticals and today's emerging green technologies, it is the state that has been the investor of first resort, our boldest and most valuable innovator. Meanwhile, the private sector only finds the courage to invest after the State has made the truly pioneering, high-risk investments.

Reviews

Read her book. It will challenge your thinking * Forbes *
One of the most incisive economics books in years * New York Review of Books *
This book has a controversial thesis. But it is basically right * Financial Times *

Author Bio

Mariana Mazzucato (Author, Preface By) Mariana Mazzucato (PhD) is Professor in the Economics of Innovation and Public Value at University College London (UCL), where she is Founding Director of the UCL Institute for Innovation & Public Purpose (IIPP). She received her BA from Tufts University and her MA and PhD from the Graduate Faculty of the New School for Social Research. Her previous posts include the RM Phillips Professorial Chair at the Science Policy Research Unit (SPRU) at Sussex University. She is a selected fellow of the UK's Academy of Social Sciences (FAcSS) and of the Italian National Science Academy (Lincei). She is winner of international prizes including the Grande Ufficiale Ordine al Merito della Repubblica Italiana in 2021, Italy's highest civilian honour, the 2020 John von Neumann Award, the 2019 All European Academies Madame de Stael Prize for Cultural Values, and the 2018 Leontief Prize for Advancing the Frontiers of Economic Thought. She was named as one of the '3 most important thinkers about innovation' by The New Republic, one of the 50 most creative people in business in 2020 by Fast Company, and one of the 25 leaders shaping the future of capitalism by WIRED. She is the author of three highly-acclaimed books- The Entrepreneurial State- debunking public vs. private sector myths (2013) which investigates the critical role the state plays in driving growth; The Value of Everything- making and taking in the global economy (2018) which looks at how value creation needs to be rewarded over value extraction; and the newly released Mission Economy- a moonshot guide to changing capitalism (2021).