The Entrepreneurial State: Debunking Public vs. Private Sector Myths

The Entrepreneurial State Debunking Public vs Private Sector Myths This book debunks the myth of the state as a large bureaucratic organization that can at best facilitate the creative innovation which happens in the dynamic private sector Analysing various case stud

  • Title: The Entrepreneurial State: Debunking Public vs. Private Sector Myths
  • Author: Mariana Mazzucato
  • ISBN: 9780857282521
  • Page: 339
  • Format: Paperback
  • This book debunks the myth of the state as a large bureaucratic organization that can at best facilitate the creative innovation which happens in the dynamic private sector Analysing various case studies of innovation led growth, it describes the opposite situation, whereby the private sector only becomes bold enough to invest after the courageous state has made the high This book debunks the myth of the state as a large bureaucratic organization that can at best facilitate the creative innovation which happens in the dynamic private sector Analysing various case studies of innovation led growth, it describes the opposite situation, whereby the private sector only becomes bold enough to invest after the courageous state has made the high risk investments.The volume, which builds on the author s work for a high impact DEMOS report, argues that in the history of modern capitalism, the state has generated economic activity that would not otherwise have happened, and has actively opened up new technologies and markets that private investors can later move into Far from the often heard criticisms of the state as potentially crowding out private investments, the state makes them happen, shaping and creating markets, not only fixing them Ignoring this reality only serves ideological ends, and hurts effective policy making.This book examines case studies ranging from the advent of the Internet to the emergence of the biotechnology and nanotechnology industries In particular, the volume debunks the myth that Silicon Valley was created by entrepreneurial venture capital A key chapter focuses on the state investments behind Apple s success, and reveals that every major technology behind the iPhone owes its source to public funds Thus, while entrepreneurial individuals like Steve Jobs are needed, their success is nearly impossible without their ability to ride the wave of state investments And if Europe wants its own Googles, it needs state action, not less.Two forward looking chapters focus on the emergence of the next big thing after the internet the green revolution Both solar and wind are currently being led by state spending, whether through the US ARPA E programme or the Chinese and Brazilian state investment banks The discussion refreshingly moves beyond the usual division between proponents of austerity vs the proponents of fiscal stimulus It argues that state investments not only help kickstart growth during periods of recession, but that they also, even in the boom period, lead to productive investments in radical new technologies which later foster decades of growth.The book ends with a fundamental question if the state is so important to investments in high risk innovation, why does it capture so little direct return For information please see the book website entrepreneurialstatethempressb

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      Published :2020-05-07T03:35:16+00:00

    About "Mariana Mazzucato"

    1. Mariana Mazzucato

      Mariana Mazzucato Is a well-known author, some of his books are a fascination for readers like in the The Entrepreneurial State: Debunking Public vs. Private Sector Myths book, this is one of the most wanted Mariana Mazzucato author readers around the world.

    663 thoughts on “The Entrepreneurial State: Debunking Public vs. Private Sector Myths”

    1. Check out the one-star reviews for this work and you'll quickly get an idea of why it is so very, very good. (G)libertarians and free-marketers are hyperventilating as Mazzucato Mariana surgically dissects their treasured myths about the desirability of a small and feeble State and the power and dynamism of unfettered capitalism, stretches their entrails out across the landscape, and leaves their corpses on public display.The core myth that Mazzucato methodically skewers, punctures, deflates, sh [...]

    2. I have been very much impressed by the Entrepreneurial State but I also have some major doubts and even some disagreements. Maybe I have been brain-washed in the last 20 years of my life but my experience in Silicon Valley and venture capital and also my less than satisfying experience with planned innovation by the State convince me that entrepreneurship is crucial and maybe more important than the State role in the innovation part (not the research or even the R&D).Now I fully agree that s [...]

    3. A really interesting essay about innovation, the role of the State and the myths surrounding the risk-taking in the private sector, venture-capital (VC) or SMEs. Studying how Apple built its innovative products using State-financed innovation, or how Big Pharma is only expanding the existing public-based research, Mariana Mazzucato convincingly demonstrates how public policies should be focused on investments and innovation in the long run, creating a stable regulatory environment and sometimes [...]

    4. This is a long review so stick with me. But I need to point out why you should not read this book or anything else this author writes pertaining to economics (maybe she knows something about art, who knows).The author claims "there is a danger whena general desire to reduce the size of the state translates into weak and non-ambitious economic policy." As though reducing the size of the state somehow makes the economy non-ambitious. Or the reverse, that increasing the size of the state would make [...]

    5. This is an important book that shows how the state plays a crucial role for innovation at different stages of their development and implementation. It also debunks several myths about companies and VC propensity to take risks and their ability to carry out research leading to innovation.

    6. V Menej štátu a podobných kruhoch sa často používa schopnosť súkromného sektoru prinášať inovácie za zmanenie jeho nadradenosti, v porovnaní so skosnatelým verejným. Táto kniha túto tézu celkom elegantne rozložila. Hen v toľko ospevovanom IPhone je vlastne väčšina technológii výsledkom štátom financovaného výskumu. (Firma to pospájala do pekného obalu a user experience, všetka česť) Na veľké vedecké prielomy je potrebná stabilita a širšie horizoty, ochota [...]

    7. What a ripper. This is a magnificent book. Based on a DEMOS report and now expanded, this book should be read by every politician and policy maker who describes the private sector as exciting, innovative, profit-leading and dynamic and the state as boring, risk-averse and damaging to entrepreneurship. Mazzucato makes a case and a powerful argument that for the big risks - the seriously innovative research that can enable leaps in business, technology, agriculture and industrialization - 'the mar [...]

    8. The book made some good arguments in regard to the state having an important role in fundamental research. I approached the "Green" chapters with much trepidation which was proven do be justified. The author had indeed drunk the Green Koolaide by quickly dissing any research into nuclear power and quoted the installed capacity of renewable energy sources rather than their actual output. The criticism of the role of the state in picking winners has often been illustrated by such things as Concord [...]

    9. Could not be reading this book at a more appropriate time. Last week Merck announced they are firing some 7.500 scientists. This week it's Alcatel firing another 5,000. That's not any company, Alcatel, it's owned by Lucent, previously known as Bell Labs.One of the main theses of the book is that business these days concentrates its efforts in bidding up the share price through buybacks, that it puts more emphasis on returning money to its shareholders rather than fostering the research that bene [...]

    10. De centrale stelling van dit boek, dat de staat verantwoordelijk is voor veel technologische innovatie zonder daar de credits en beloning voor te krijgen, wordt goed uitgewerkt, al mis ik weerwoord. Interessant zijn de case studies van onder andere de farmaceutische industrie en apple, waarbij ook vermeld moet worden dat de auteur 1 richting op redeneert en geen voorbeelden laat ziet waarbij de innovatie niet vanuit de overheid is gekomen. Ja de overheid subsidieert de ontwikkeling van medicijne [...]

    11. As the intro says: 'this bookallenges the widespread idea that the State cannot pick winners, that it is clumsy, bureaucratic and incapable of entrepreneurial risk taking'Essential reading for a more rounded view of the role of the state than is usually promulgated by much of the media.

    12. In "The Entrepreneurial State", Diane Mazzucato fleshes out a cogent and encompassing argument for the necessity of State-led intervention and direct financial investment within the realm of technical "innovation" (and related technological development). To form her argument, Mazzucato first lays out her idea of the 'alternative hypothesis', or the traditional argument, that the best role of the State is to stay out of the free-market and to avoid "picking winners". This position, which is built [...]

    13. The Entrepreneurial State (2013) by Marianna Mazzucato looks at how the state is, according to Mazzucato, entrepreneurial in its development of science and technology.The first thing about the book is that it abuses the word 'Entrepreneur'. Mazzucato tries to put forward the idea that the state, by financing research is being 'Entrepreneurial'. But it's not really. The financial risk for the state itself isn't that great. The financial risk for the people who allocate the funding is also small. [...]

    14. A gem of a book for all those snow-flake lefties/liberals who are feeling left behind in the current onslaught of red-toothed and -clawed deregulationism and small-state-ism and its pernicious effects on well, everything Essential reading for all those who keep on insisting that everything new, exciting, problem-solving, trailblazing and money-making idea comes from the individual, and only the individual, working alone in/at his/her shed/desk/room/headspace. Then again, those who insist on the [...]

    15. Powerful book that hammers home an important point: the State plays and has played a pivotal and vital role in innovation that is very under-appreciated; many break-troughs and innovations are the result of the state taking risks and investing money. Mazzucato convincingly shows that even darling Apple is much indebted to technology done by and paid for by the government. Forcefully debunks many myths, like the risk-appetite of venture capital (pretty short-term and not too high risk appetite) a [...]

    16. One of the popular narratives of the past 35 years (I believe it began with Reagan) is that the federal government is an ineffective and generally useless part of our society. As a government employee, I have a number of friends and family who have happily reminded me of this for years. This book turns that narrative on its head by discussing the many instances in which government research and regulation have yielded outcomes that have benefitted commerce and society. The internet was invented b [...]

    17. The book gives rise to interesting thoughts regarding the state's role in the economy. What would happen with innovation in a society with a minimal state? The author is obviously very opinionated on the subject and drives the point that the state's role as an investor is vital for economic growth. However, the book could use more examples from around the world and it is heavily based on the author's own research. As it stands many of the same technologies are repeated over and over again, and d [...]

    18. Champions of the free market call for the government to play a minimal role in the economy. They see government as useful in setting the conditions, and providing incentives, for private enterprise, and they might allow that government has a limited role in fixing a few things that the market fails to provide, such as roads and pollution cleanups. But essentially the public sector is regarded as fearful, sluggish, and bureaucratic, the enemy, a dead hand on the economy. Dynamism is the result so [...]

    19. A solid tweet turned into a tedious and repetitive book. The tweet would be something like:"The state does a lot of heavy lifting and assumes the greatest risk for innovation. Maybe it could socialize the benefits and not just failures?"There. You've basically read the book.I was looking for something that would propose alternatives to the sensible-sounding bits of free market ideologies. I want a path to ethical regulation that avoids negative externalities. This book didn't offer that. Its poi [...]

    20. So. yeah. If you thought that the iPhone is the result of great capitalist powers at work, you need to read this. Mazzucato does a great job at dissecting chosen industries (for instance, pharmaceuticals, electronics, power) and gives food for much thought. It also goes on a tangent regarding the externalization of risks and internalization of rewards which is very interesting in itself.Minus one start because the writing, accessible as it is, is nonetheless a bit dry and academic in style, but [...]

    21. Interesting read and the point that innovations are moving for their source from the private to the public sector was more than credible. Good supporting evidence in the book. Completely agree that the state should be rewarded for its innovations and the lack of a coherent world wide corporate tax regime is crucially required. Only three stars because I felt the books main points were repeated far more than necessary and a shorter punchier book would have been preferably.

    22. Moi interesante a proposta de cambio de perspectiva na análise do Estado e o avance tecnolóxico. O capítulo 4. "O Estado detra´ do iPhone" moi recomendable. Existe versión en español. "El Estado Emprendedor"

    23. Essential for understanding what in modern capitalism functions when it functions. The implications are very debatable.

    24. This is a fantastic book. Mazzucato's overarching argument is that we need the return of the state in markets, in order for markets to function most effectively and for society to see the highest returns. Mazzucato argues this isn't simply about addressing 'market failures' usually narrowly defined but rather the state needs to retain its role from basic research to application in order to finance objectives the market deems either too uncertain, too risky or simply lacks the capital or horizons [...]

    25. Written by Mariana Mazzucato, a professor at the University of Sussex (UK), "The Entrepreneurial State" is a short, engaging book that attempts to provide a comprehensive view of how innovation-led growth occurs. Mazzucuto devotes significant space to debunking the some of the more common myths surrounding the causes of innovation, particularly the idea that innovation results solely from the efforts of small private businesses that are led by visionary leaders and that receive key support from [...]

    26. A glimpse of how the imperial state operates[Through my ratings, reviews and edits I'm providing intellectual property and labor to Inc listed on Nasdaq, which fully owns and in 2013 posted revenues for $74 billion and $274 million profits. Intellectual property and labor require compensation. Inc. is also requested to provide assurance that its employees and contractors' work conditions meet the highest health and safety standards at all the company's sites].The books concentrates on state i [...]

    27. Overall, a fascinating and thought-provoking book. The writing style is a somewhat on the dry, academic side, but reasonably readable for a wider audience.The premise, backed up with a lot of research that is detailed in the bibliography, is that contrary to popular opinion the State can be an active force that drives innovation. For example, where do you think the Internet (protocols and hardware) came from? I'll give you a hint - it wasn't from basement hackers or corporations! Where do you th [...]

    28. I ran across the author on a FORA video and then had to start investigating what was really behind her and her views. First, I disagree with most of what she says in any way and I don't see anything that I would equate with learned economists coming out of her. She supports a far-left view of the world, government, and economics. Based on what she tends to say and present a logical conclusion would have been that the US would have lost the cold war and the Soviet Union would have won, because th [...]

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