The Entrepreneurial State

In "The Entrepreneurial State," Mariana Mazzucato provocatively dismantles the prevailing myth that innovation is solely the domain of nimble private corporations. Drawing on meticulous case studies, she argues convincingly that the most revolutionary advancements, from the internet and GPS to pharmaceuticals and even the fundamental technologies behind the iPhone, were not just funded but actively championed and developed by the state, often decades before private enterprise entered the scene. Mazzucato challenges the narrative of an inherently sluggish government at odds with a dynamic private sector, revealing instead a powerful, risk-taking, and deeply entrepreneurial public sector that has historically driven much of the world's technological and economic progress. She contends that denying this crucial history leads to a dangerous misallocation of credit and, more importantly, a misguided disinvestment in public innovation, threatening future economic growth and exacerbating inequality. This essential work calls for a fundamental re-evaluation of the state's role, urging us to acknowledge and strategically invest in its foundational contribution to innovation before it's too late.