Summary of Government – Investor, Risk-Taker, Innovator

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Government – Investor, Risk-Taker, Innovator summary
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Rating

7

Qualities

  • Innovative

Recommendation

Economist Mariana Mazzucato debunks the notion that privately funded firms are unconstrained and innovative, while public agencies struggle with the binds of bureaucracy. Using the iPhone as an example, Mazzucato explains how government agencies engineered the device’s revolutionary innovations. getAbstract suggests her impassioned train of thought to those responsible for establishing public-private partnerships – the secret to “dynamic capitalism.”

About the Speaker

Economist Mariana Mazzucato is a professor at the University of Sussex.

 

Summary

Many people assume that private sector funding promotes innovation and commercialization, while projects and companies receiving public support suffer due to conservative attitudes and layers of bureaucracy. The public discourse perpetuates this assumption. Many people view great innovators such as Apple’s Steve Jobs as dynamic, groundbreaking cowboys unfettered by traditional ways of doing things. The media echo this sentiment, often describing the public sector as a behemoth that strangles creativity. This narrative encourages innovation policy makers to assign the state the task of financing the fundamentals...


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