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.”
In this summary, you will learn
- Why many people believe that the private sector is more innovative than the public sector,
- Why this misconception is harmful and
- How policy makers can counteract its effect.
About the Speaker
Economist Mariana Mazzucato is a professor at the University of Sussex.