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.”

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...

About the Speaker

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


More on this topic

Related TED Link

Customers who read this summary also read

What Is Economic Value and Who Creates It?
9
How Cryptocurrency Can Help New Companies Get Investment Capital
8
Here’s How We Take Back the Internet
9
When Local News Dies, So Does Democracy
9
Customer Expectations Push Brands to Do Better
7
Reducing Corruption Takes a Specific Kind of Investment
8

Related Channels

Comment on this summary