Must-Read: Mariana Mazzucato: The Case for the Entrepreneurial State

Must-Read: Mariana Mazzucato: The Case for the Entrepreneurial State:

Mariana Mazzucato… contends that, contrary to the claims of GOP presidential hopefuls, the American economy has benefited immensely from government intervention…

The United States, the preacher of the small-state, free-market doctrine, has for decades been directing large public investment programs in technology and innovation that underlie its past and current economic success….

For evidence of the state’s role in driving long-run innovation-led economic growth, look no further than Silicon Valley….

It would all be fine if they admitted getting this support—instead, they prefer the ‘we made that alone’ narrative.This is bad for future innovation since the future ‘surfers’ may have a very small wave….

‘If you want to think differently about economics, The New School is the place to be,’ says Mazzucato, who holds the RM Phillips Chair in the Economics of Innovation in the Science Policy Research Unit at the University of Sussex. ‘You learn a rich, diverse set of theories. It’s a rare haven, not only for heterodox thinking but for rigorous thinking’…