The Entrepreneurial State: Debunking Public vs. Private Sector Myths (Anthem Other Canon Economics)

Product Description<br/><br/>This bestseller from leading economist Mariana Mazzucato � named by the �New Republic� as one of the �most important innovation thinkers� today � is stirring up much-needed debates worldwide about the role of the State in innovation. Debunking the myth of a laggard State at odds with a dynamic private sector, Mazzucato reveals in case study after case study that in fact the opposite situation is true, with the private sector only finding the courage to invest after the entrepreneurial State has made the high-risk investments. Case studies include examples of the State�s role in the �green revolution�, in biotech and pharmaceuticals, as well as several detailed examples from Silicon Valley. In an intensely researched chapter, she reveals that every technology that makes the iPhone so �smart� was government funded: the Internet, GPS, its touch-screen display and the voice-activated Siri. Mazzucato also controversially argues that in the history of modern capitalism the State has not only fixed market failures, but has also shaped and created markets, paving the way for new technologies and sectors that the private sector only ventures into once the initial risk has been assumed. And yet by not admitting the State�s role we are socializing only the risks, while privatizing the rewards in fewer hands. This, she argues, hurts both future innovation and equity in modern-day capitalism. Named one of the �2013 Books of the Year� by the �Financial Times� and recommended by �Forbes� in its 2013 �creative leaders� list, this book is a must-read for those interested in a refreshing and long-awaited take on the public vs. private sector debate.<br/><br/>Review<br/><br/>�[H]ands down the most refreshing treatment of the innovation issue to have emerged in a long time.� ��Science and Public Policy�<br/><br/>�[A] skillful combination of the history of technology, empirical evidence, and policy analysis [�] the book contains a critical reading of data and arguments that run counter to established views while never falling short of offering constructive solutions.� �Davide Consoli, �Science�<br/><br/>�[P]rovides persuasive evidence that governments deserve more credit than private companies for the development of most important modern technologies.� �Edward Hadas, �Reuters�<br/><br/>�Mazzucato argues that long-term, patient government funding is an absolute prerequisite for breakthrough innovation. [�] Even if you disagree with Mazzucato�s argument, you should read her book. It will challenge your thinking.� �Bruce Upbin, �Forbes�<br/><br/>�Conventional economics offers abstract models; conventional wisdom insists that the answer lies with private entrepreneurship. In this brilliant book, Mariana Mazzucato [�] argues that the former is useless and the latter incomplete.� �Martin Wolf, �Financial Times�<br/><br/>�[A] meticulously argued treatise that shows how unwise our conventional wisdom has become.� �Christopher Dickey, �Newsweek�<br/><br/>�In this trailblazing book on the role of government as both a risk-taking funder of innovation and a market creator, Mariana Mazzucato persuasively argues that the government is a key enabler of technological innovations that drive economic growth. [�] This important book should be read by policymakers, opinion leaders, and others with a stake in funding economic growth.� �' Arnold T. Davis, CFA Institute book review<br/><br/>��The Entrepreneurial State: Debunking Public vs. Private Sector Myths� [�] is a meticulously argued treatise that shows how unwise our conventional wisdom has become.� �Christopher Dickey, �Newsweek�<br/><br/>�Makes and engaging, persuasive case in favor of the state, and suggests one recommend it not just as an instrument of market repair but also as a prerequisite for future prosperity.� �J. Bhattacharya, �Choice�<br/><br/>�It is one of the most incisive economic books in years.� �Jeffery Madrick, �