A much-maligned engine of innovation - Martin Wolf reviews Mariana Mazzucato's "brilliant" new book
Don’t miss the review of Institute for New Economic Thinking grantee Mariana Mazzucato‘s new book, The Entrepreneurial State, in today’s Financial Times. This is what the FT’s Chief economics commentator Martin Wolf had to say about the book, which is an outgrowth of Mazzucato’s Institute-funded research:
Conventional economics offers abstract models; conventional wisdom insists the answer lies with private entrepreneurship. In this brilliant book, Mariana Mazzucato, a Sussex university professor of economics who specialises in science and technology, argues that the former is useless and the latter incomplete. Yes, innovation depends on bold entrepreneurship. But the entity that takes the boldest risks and achieves the biggest breakthroughs is not the private sector; it is the much-maligned state.
To read the rest, check out the article in today’s FT!
Source: http://ineteconomics.org/blog/institute/much-maligned-engine-innovation-martin-wolf-reviews-mariana-mazzucatos-brilliant-new-
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