I'm pretty confident Adam Smith never used the phrase free market. I think he was both a fan of competition and a fan of limited intervention. He's not an anarchist, neither am I. Most people I know who call them Suss Free Market, they don't literally mean no government. My dislike of the financial sector is overwhelmingly driven by the opportunity to use government money from bailouts or prospect prospective bailouts. Do you worry about that? It seems to me in your book at least in one place you were a fan of the bail outs. Do you think those were a mistake and do they worry or do they worry? Are there any other issues we should talk about? We lost
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.