Author(s): Mariana Mazzucato
This book, which builds on the author's work for a high-impact DEMOS report, debunks the myth of the state as a large bureaucratic organization that can at best facilitate the creative innovation which happens in the dynamic private sector. Analysing various case studies of innovation-led growth, in particular examples from Silicon Valley - from the Internet to the technologies behind the iPhone - it describes the opposite situation, whereby the private sector only finds the courage to invest after the entrepreneurial state has made the high-risk investments. It argues that in the history of modern capitalism - and today in what might soon become the 'green' revolution - the state has not only fixed market failures but also shaped and created markets, actively investing in new technologies and sectors that private investors only later find the courage to move into.
This book debunks the myth of a dynamic private sector vs. a sluggish public sector by providing a detailed account of the role of the public sector in taking on high-risk entrepreneurial investments, from the Internet to the green revolution.
Mariana Mazzucato is professor of economics at the University of Sussex (SPRU), where she holds the prestigious RM Philips Chair in Science and Technology Policy. www.marianamazzucato.com http://www.marianamazzucato.com/projects/entrepreneurial-state/ @mazzucatom
List of Tables and Figures; List of Acronyms; Acknowledgements; Foreword by Carlota Perez; Introduction: Do Something Different; Chapter 1: From Crisis Ideology to the Division of Innovative Labour; Chapter 2: Technology, Innovation and Growth; Chapter 3: Risk-Taking State: From 'De-risking' to 'Bring It On!'; Chapter 4: The Us Entrepreneurial State; Chapter 5: The State behind the iPhone; Chapter 6: Pushing vs. Nudging the Green Industrial Revolution; Chapter 7: Wind and Solar Power: Government Success Stories and Technology in Crisis; Chapter 8: Risks and Rewards: From Rotten Apples to Symbiotic Ecosystems; Chapter 9: Socialization of Risk and Privatization of Rewards: Can the Entrepreneurial State Eat Its Cake Too?; Chapter 10: Conclusion; Appendix; Bibliography; Index