Summary of Mariana Mazzucato's The Entrepreneurial State , livre ebook

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35 pages

English

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Please note: This is a companion version & not the original book.
Sample Book Insights:
#1 The book is dedicated to dismantling the false image of the State as an inertial, bureaucratic entity. In reality, the State is the innovative force, and it is up to it to prove this to the world.
#2 The book examines the role of the State in creating innovation-led growth, and questions whether the current innovation ecosystem is a functional symbiotic one or a dysfunctional parasitic one.
#3 The State is the source of many of the most radical, revolutionary innovations that have fueled the dynamics of capitalism. And all of the technologies that make Jobs’ iPhone so smart were government funded.
#4 The State’s role in the economy requires a vision, a mission, and most of all confidence in what the State’s role is. This is why it is so important for economic theory to ignore or justify State intervention when the social return on investment is higher than the private return.

Sujets

Entrepreneuriat

Business

Economics

Entrepreneurship

Employabilité, métiers et formations

Informations

Publié par	Everest Media LLC
Date de parution	29 mai 2022
Nombre de lectures	0
EAN13	9798822504370
Langue	English
Poids de l'ouvrage	1 Mo

Informations légales : prix de location à la page 0,0150€. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.

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Insights on Mariana Mazzucato's The Entrepreneurial State
Contents Insights from Chapter 1 Insights from Chapter 2 Insights from Chapter 3 Insights from Chapter 4 Insights from Chapter 5 Insights from Chapter 6 Insights from Chapter 7 Insights from Chapter 8 Insights from Chapter 9 Insights from Chapter 10
Insights from Chapter 1

#1

The book is dedicated to dismantling the false image of the State as an inertial, bureaucratic entity. In reality, the State is the innovative force, and it is up to it to prove this to the world.

#2

The book examines the role of the State in creating innovation-led growth, and questions whether the current innovation ecosystem is a functional symbiotic one or a dysfunctional parasitic one.

#3

The State is the source of many of the most radical, revolutionary innovations that have fueled the dynamics of capitalism. And all of the technologies that make Jobs’ iPhone so smart were government funded.

#4

The State’s role in the economy requires a vision, a mission, and most of all confidence in what the State’s role is. This is why it is so important for economic theory to ignore or justify State intervention when the social return on investment is higher than the private return.

#5

The examples in the book come from the United States, but modern-day examples are coming from countries like Brazil and China. These countries are investing in visionary ways that private banks and venture capitalists fear.

#6

The State is not a meddler or a simple facilitator of economic growth. It is a key partner of the private sector, and it should not bow down easily to interest groups who approach it to seek handouts, rents, and unnecessary privileges like tax cuts.

#7

The distinction between the State and business is often exaggerated, but it is important to understand that the State is not only important for Keynesian reasons, but also at any time in the business cycle to play the role of a real tiger.

#8

The role of the State is to provide leadership, and it does so by making things happen that otherwise would not have happened. But whether this role is justified given the characteristics of public good and externalities is up for debate.

#9

The book attempts to change the way we talk about the State, from an inertial bureaucratic leviathan to the catalyst for new business investment. It not only corrects market failures, but also creates and shapes markets.

#10

The book is structured as follows: Chapter 1 addresses the popular image of the State as a bureaucratic machine and presents a different image of the State as lead risk taker. The State does not de-risk as if it has a magic wand that makes risks disappear. It takes on risks, shaping and creating new markets.

#11

The entrepreneurial State can take many forms. Four examples are given in Chapter 5, which focuses on the history of one company, Apple, and shows that despite common perceptions, the State has been extremely proactive and entrepreneurial in the development and commercialization of new technologies.

#12

The role of the State as lead risk taker is to launch specific clean technologies. However, when public investments become business giveaways, they do not provide a return to the economy or the State.

#13

The book challenges the myths of economic development and conventional views of the State’s role in it. It describes how the State has been the lead player in the knowledge economy, by taking risks in areas where the private sector has been too risk averse.

#14

The role of the State in promoting innovation is being hyped up, while the role of the private sector is being hyped down. The truth is that the State is both an entrepreneur of first resort and a passive entrepreneur of last resort.

#15

The assumption is that, with the State in the backseat, we unleash the power of entrepreneurship and innovation in the private sector. However, a proper look at the real cost savings that such outsourcing provides reveals that it is rarely done.

#16

The view that the State is an enemy of enterprise is a point of view found in the business press constantly. It argues that government should take a back seat and focus on creating free markets and the right conditions for new ideas to prosper.

#17

The power of the ideology is so strong that it can even change the course of history. The financial crisis of 2007 was caused by excessive private debt, but many people were led to believe that the chief culprit was public debt.

#18

The more we talk down the State’s role in the economy, the less able we are to up its game and make it a relevant player, and the less able it is to attract top talent.

#19

The State is often blamed for its inability to pick winners, but what is ignored is that, in many of the cases that the State failed, it was trying to do something much more difficult than what many private businesses do: either extending the glory of a mature industry or launching a new technology sector.

#20

The emphasis on the State as an entrepreneurial agent is not meant to deny the existence of private sector entrepreneurial activity. The key problem is that this is the only story that is usually told.

#21

The argument for an entrepreneurial State is not new industrial policy. It is what has happened in the history of the computer industry, the Internet, the pharmaceutical-biotech industry, and nanotech.

#22

The role of the State is not to correct market failures or facilitate innovation, but to play a strategic role in making these investments. The assumptions that all the State has to do is to nudge the private sector in the right direction are myths.

#23

The role that each actor plays in the innovation process is crucial to understanding how the economy works. It is easy for government to get captured by special interests which portray their role in a rhetorical and ideological way that lacks evidence or reason.

#24

The issue is not that the State has financed too much innovation, but that policymakers have not been ambitious enough

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Summary of Mariana Mazzucato's The Entrepreneurial State , livre ebook

Entrepreneuriat

Business

Economics

Entrepreneurship

Employabilité, métiers et formations

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