In this sharp and controversial exposé, Mariana Mazzucato debunks the pervasive myth that the state is a laggard, bureaucratic apparatus at odds with a dynamic private sector. She reveals in detailed case studies, including a riveting chapter on the iPhone, that the opposite is true: the state is, and has been, our boldest and most valuable innovator. Denying this history is leading us down the wrong path. A select few get credit for what is an intensely collective effort, and the US government has started disinvesting from innovation. The repercussions could stunt economic growth and increase inequality. Mazzucato teaches us how to reverse this trend before it is too late.
"[P]rovides persuasive evidence that governments deserve more credit than private companies for the development of most important modern technologies." Edward Hadas, Reuters "(A) skillful combination of the history of technology, empirical evidence, and policy analysis...the book contains a critical reading of data and arguments that run counter to established views while never falling short of offering constructive solutions." Davide Consoli, Science "Makes an engaging, persuasive case in favor of the state, and suggests one recommend it not just as an instrument of market repair but also as a prerequisite for future prosperity." J. Bhattacharya, Choice "In this trailblazing book on the role of government as both a risk-taking funder of innovation and a market creator, Mariana Mazzucato persuasively argues that the government is a key enabler of technological innovations that drive economic growth....This important book should be read by policymakers, opinion leaders, and others with a stake in funding economic growth." Arnold T. Davis, CFA Institute "[P]rovides a refreshing new take on rather stale debates on the economic role of government." Globe and Mail (UK)