The Importance of Public Investment in the History of Technology

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CNN's John Defterios takes a look at the role of government and innovation in history. He says public sector often fails when it doesn't have a problem to solve. The NIH has been incredibly innovative compared to private pharmaceuticals, he argues. But there is little proper research on what healthy living is - but many of us think we know that just by 'voodoo'

Economist and author Mariana Mazzucato talks about her book The Value of Everything with EconTalk host Russ Roberts. Mazzucato argues that economists have mismeasured value and have failed to appreciate the role of government as innovator. She argues for a more active role for government in the innovation process and for government to share in revenue proportional to its role in the creation of new technology.