T15091_Mazzucato_report_summary_-_final.pdf (336.83 kB)
A mission-oriented approach to building the entrepreneurial state
report
posted on 2023-06-09, 02:07 authored by Mariana MazzucatoCountries around the world are seeking smart, sustainable growth. This paper argues that if they are to succeed they must put innovation at the heart of growth policy. However, the current debate is hampered by a limited economic framework - Market Failure Theory - traditionally used by policy makers worldwide. According to this theory, government should take a back seat and simply create the ‘conditions’ for innovation - establishing a playing field but allowing the playing itself to be done by the dynamic business community. The state may be permitted to invest in limited areas that are characterised by ‘market failures’, but should not get too involved in the direction of change itself. This is summed up by the overused phrase -“Governments can’t pick winners”.
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- Published
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- Published version
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Innovate UKPublisher URL
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- SPRU - Science Policy Research Unit Publications
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- Yes
Legacy Posted Date
2016-07-11First Open Access (FOA) Date
2016-07-11First Compliant Deposit (FCD) Date
2016-07-11Usage metrics
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