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\nThe Government as Entrepreneur\n

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\n\nPublisher:\n\nInstitute for New Economic Thinking\n\n\n
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\nMariana Mazzucato argues that the idea that entrepreneurship is confined to the private sector is wrong. In fact, while often considered \"inefficient,\" the state is among the shrewdest investors in innovation—and deserves its fair share...\nMariana Mazzucato argues that the idea that entrepreneurship is confined to the private sector is wrong. In fact, while often considered \"inefficient,\" the state is among the shrewdest investors in innovation—and deserves its fair share of the rewards.

Who should get the fruits of innovation? Today, the gains are hoarded by corporations like Apple or Tesla. But University College London professor and INET grantee Mariana Mazzucato has a different answer: The state should reap the returns that its massive investment in innovation has generated.

Mazzucato argues that the state, often dubbed “lender of last resort,” should instead take an unabashed role as “investor of first resort”—acting as a proactive investor in major innovations, and getting returns on that investment. That's because governments are capable of the patient, long-term, strategic approach to finance that's essential for innovation. In taking a “mission-oriented” approach, the public sector should work with the private sector and civil society to build a portfolio of innovation projects that better meet the challenges of our times.
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Resource Details

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Educator Rating
Not yet Rated
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Media Length
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19:24
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Grade
Higher Ed
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Subjects
Social Studies & History
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Media Type
Instructional Videos
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Source:
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\nNew Economic Thinking\n\n
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Date
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2018
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Language
English
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Audiences
For Teacher Use
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Usage Permissions
Fine Print: Educational Use
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Concepts

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civil society, public policy, sharing
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video, camera phone, video phone, free, upload, basket case, background conditions, fulfilling prophecy, playing field, civil servants, material content, early stage, pay back, pick winners, key point, collective process, scientific process, public purpose, technological change, bother investing, public sector, mission oriented, long time, guaranteed loan, public actors, pick tesla, innovation process, market failures, private actors, make choices, sector, policy, process
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