Summary of Mariana Mazzucato's The Entrepreneurial State

By IRB Media

Please note: This is a companion version & not the original book. Book Preview:

#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.

• Language: English
• Publisher: IRB Media
• Release date: May 21, 2022
• ISBN: 9798822504370

IRB Media

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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