Reading :: The Entrepreneurial State

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

A colleague recommended that I pick up this book, which was declared a Financial Times best book of the year. The book argues that, despite "the pervasive myth that the state is a laggard, bureaucratic apparatus at odds with a dynamic private sector," in reality "the state is, and has been, our boldest and most valuable innovator" (back cover). But because of this myth, the US government in particular has been disinvesting from innovation, with potentially negative consequences.

The book is closely argued and I'm sure it's very convincing. Yet I have very few notes in it, primarily because the thesis does not seem that radical or interesting to me. Yes, the State funds a lot of different innovation projects—including basic research in universities, innovation networks, and entrepreneurship training—and in doing so, takes many risks that would not otherwise be taken on by the private sector. I've seen plenty of examples, especially in my ongoing work with IC2.

If you do find that thesis to be radical or interesting, however, do take a look at the book. Mazzucato does a nice job of laying out specific claims and substantiating them with both hard numbers and specific case studies.