The Entrepreneurial State
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The world's most popular products, from the iPhone to Google Search, were funded not by private companies, but the taxpayer. In this sharp and controversial international bestseller, an award-winning economist debunks the pervasive myth that the government is sluggish and inept, and at odds with a dynamic private sector. She reveals in detailed case studies that the opposite is true: the state is, and has been, our boldest and most valuable innovator. Denying this history is leading us down the wrong path. A select few get credit for what is an intensely collective effort, and the US government has started disinvesting from innovation. The repercussions could stunt economic growth and increase inequality. Mazzucato teaches us how to reverse this trend before it is too late.
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There's this myth that governments don't innovate. In reality, innovative technologies come from government research/government-funded research all the time. The internet, Microprocessors, WiFi, Cellular networks, GPS, Solar panels, Lithium Ion batteries, touchscreen technology, LCD screens, even Siri itself. All created by government R&D or funded by governments. Look at space travel. Government funding & research trailblazed, now the private sector is leading the charge. The government-funded Human Genome Project gave us $100 genetic tests to find your cousins via Ancestry(dot)com or see which diseases you might be genetically prone to. GPS, the greatest government-funded endeavor ever. Like I keep saying, learn your history before repeating common misconceptions.
Highly Recommended.
