The Economics Show
Martin Wolf interviews Mariana Mazzucato: Can the state innovate?
Dec 30, 2024
In this insightful discussion, Mariana Mazzucato, a professor at University College London and a leading expert on mission-oriented policy, argues for a revitalized role of the state in innovation. She reflects on JFK's moon landing as a model for tackling large challenges today, like climate change and pandemics. Mazzucato critiques the myth of the solitary entrepreneur, advocating for government-led, collaborative initiatives to drive technological advancements. The conversation emphasizes the need for ambition and coordination in public policies to stimulate innovation.
31:19
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Quick takeaways
- Mariana Mazzucato argues that government intervention is vital for innovation, as seen through historical examples like the development of Silicon Valley technologies.
- She advocates for mission-oriented policies that prioritize tackling urgent societal challenges, drawing parallels to the collaborative efforts of the Apollo program.
Deep dives
The Role of the Entrepreneurial State
The concept of an entrepreneurial state is presented as essential for successful innovation and economic growth. Mariana Mazzucato argues that government intervention can drive technological advancements and create markets instead of merely fixing or regulating existing ones. This perspective challenges the prevailing notion that supports minimal state involvement, especially during the austerity following the financial crisis. Through historical examples, such as the state’s role in developing Silicon Valley technologies, Mazzucato highlights how essential public funding and institutions are in fostering an environment where innovation can thrive.
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