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Mariana Mazzucato: The Entrepreneurial State: Debunking Private vs. Public Sector Myths

Long Now

CHAPTER

The Role of Public Financial Institutions in the Growth of Silicon Valley

In 2011, if you took all of private finance in the world, so it's corporate, private equity, venture capital and stock market, it was 11 billion. And then just a particular type of public finance, so not like Department of Energy, ARPA-E type stuff, just for public banks. So these are state investment banks. Both the German government and the Chinese government have a very specific mission around green. China's 2020 goal in fact is to produce 20% energy for the entire economy from renewables. Huawei, which is number one today in the telecommunications. It hasn't been allowed to enter the US market. Received a massive loan from the China development bank. You know,

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