The Entrepreneurial State: Is Government the Real Engine of Innovation? Mariana Mazzucato

The dominant narrative tells us that innovation is driven solely by the private sector – by risk-taking entrepreneurs and venture capitalists. But economist Mariana Mazzucato challenges this view head-on in her groundbreaking work, "The Entrepreneurial State." In this video, we dive deep into Mazzucato's arguments, exploring how the government has historically played a far more crucial role in driving radical innovation than it's given credit for. We'll debunk the "Valley of Death" myth, examine the imbalance between risk and reward in the innovation process, and explore the concept of mission-oriented innovation as a way to tackle major societal challenges like climate change. We'll look at real-world examples, from the development of the internet and GPS to Germany's Energiewende, and discuss how we can design policies to ensure a fairer distribution of the benefits of innovation. Join us as we rethink the relationship between the public and private sectors and explore a new vision for economic development. Is it time to embrace the Entrepreneurial State? Let's discuss!

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