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The entrepreneurial state

Paper

Mazzucato, Mariana; Demos, 29-06-2017

Online access

  • Title:
    The entrepreneurial state
  • Author: Mazzucato, Mariana
  • Subjects: Trends: economic, social and technology trends affecting business; Small business & enterprise: the practicalities of running a small business and the theory of entrepreneurship
  • Publication Details: Demos, 29-06-2017
  • Description: Downloadable pamphlet challenging this minimalist view of economic policy that the state must be cut back to make room for entrepreneurship and innovation, to prevent the public sector 'crowding out' the private sector.
  • Abstract: This pamphlet challenges the minimalist view of economic policy that the state must be cut back to make room for entrepreneurship and innovation, to prevent the public sector 'crowding out' the private sector. It finds that successful economies result from government doing more than just creating the right conditions for growth. Instead, government has a key role to play in developing new technologies whose potential is not yet understood by the business community. State-funded organisations can be nimble and innovative, transforming economies forever - the algorithm behind Google was funded by a public sector National Science Foundation grant. The pamphlet forces the debate to go beyond the role of the state in stimulating demand, or crudely ‘picking winners’ in industrial policy. Instead, it argues for a proactive, entrepreneurial state: a state that is able to take risks and harness the best of the private sector. It imagines the state as a catalyst, sparking the initial reaction that will cause innovation to spread.

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