Summary The Entrepreneurial State: Debunking Private vs. Public Sector Myths | Mariana Mazzucato - YouTube (Youtube) www.youtube.com
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The Long Now Foundation is transforming their space at Fort Mason into "The Interval," a venue that will contain a vast collection of books for civilization, while Mariana Mazzucato seeks to redefine the discourse.
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Slide Presentation (15 slides)
Key Points
- The Long Now Foundation is renovating its space at Fort Mason to create "The Interval" and has installed bookshelves for their 3000 volume manual for civilization.
- Mariana Mazzucato aims to change the conversation around the role of the state to promote public-private partnerships and drive innovation and growth.
- The state plays a significant role in shaping the market through laws and funding, and understanding different types of organizations that contribute to the market is crucial.
- Government must be ready to inject demand during recessions and not rely solely on tinkering with tax and interest rates.
- Government investments in general purpose technologies have been instrumental in driving innovation, but it is important to consider how winners are chosen.
- Private investments in innovation, particularly in the green sector, are declining, and companies often follow the government's lead in taking on big risks and investments.
- The issue of income inequality and concentrated profits in the hands of the 1 percent is not solely due to innovative ideas and skills but requires a broader perspective.
- Government investment in new areas is often undervalued due to a lack of indicators to measure their performance, similar to the criticism faced by the BBC.
Summaries
31 word summary
The Long Now Foundation is renovating its space at Fort Mason to open "The Interval," which will house a 3000 volume manual for civilization. Mariana Mazzucato aims to change the conversation.
38 word summary
The Long Now Foundation is renovating its space at Fort Mason and will soon be opening "The Interval," which will house a 3000 volume manual for civilization. Mariana Mazzucato, the speaker, aims to change the conversation about the
741 word summary
The Long Now Foundation is renovating its space at Fort Mason, which will be called "The Interval." They are currently finishing up construction and have installed bookshelves for their 3000 volume manual for civilization. They will soon be sending out a
The speaker, Mariana Mazzucato, aims to change the way we talk about the role of the state in order to foster public-private partnerships and drive innovation and growth. She argues that while the private sector is often emphasized, the role of
The state plays a significant role in shaping the market through laws and funding. Understanding the different types of organizations that contribute to the market is crucial. Market pressures affect companies differently across sectors. Instead of focusing on public versus private or business versus state, we
The volatility of the economy is driven by "animal spirits," or gut instincts about future technological and market opportunities. Tinkering with tax and interest rates is not enough to stimulate economic growth. The government must be ready to inject demand during recessions.
Government investments in general purpose technologies were not just fixing market failures, but creating big missions and thinking in a revolutionary way. Early stage funding for many companies, including Apple, Intel, and Compact, was provided by the public sector through programs like small business
Innovation is uncertain, with successes like the Internet and failures like the Concorde. It's not about whether the government should pick winners, but how it does it. Green technology is currently being underfunded, despite the availability of private venture
State investment banks, such as the German KfW, Chinese China Development Bank, European Investment Bank, and Brazilian Development Bank, have recently taken on a new role in directing loans towards specific areas, particularly in the green sector. These banks used to
Private investments in innovation are declining, particularly in the green sector. The private sector often follows the government's lead in taking on big risks and investments. However, despite calling for more government spending on clean tech and innovation, many companies themselves are not investing
The excerpt discusses the importance of recognizing the role of the public sector in fostering innovation and economic growth. It emphasizes the need for investment in companies alongside the state and questions why public policy needs constant justification. The excerpt also mentions the choices companies make regarding share
The issue of income inequality and the concentration of profits in the hands of the 1 percent is often explained by the belief that these individuals have innovative ideas and skills that allow them to generate higher profits. However, the author argues that this explanation does not
State investment banks retain equity and have a role in commercializing publicly funded research through patents. However, the government should have a say in pricing to prevent taxpayers from paying twice. The pharmaceutical industry is closing down private R&D labs and relying on open innovation
Government investments in new and frontier areas are often misunderstood and undervalued due to a lack of indicators to measure their performance. This is similar to the criticism faced by the BBC, which is accused of crowding out private broadcasters despite producing high-quality programs
The speaker discusses the importance of government investment in areas such as green technology and healthcare, framing these issues as battles or missions. They argue that governments should create a narrative around security interests and strategically fund these initiatives. The speaker also criticizes the narrative that
International corporations have the ability to invest and produce in a way that addresses global opportunities, while governments often focus on domestic issues. However, there are means by which governments can collaborate on global issues like climate change. Some examples of this collaboration include public labs
Countries like Singapore, Finland, and Israel have made explicit decisions to invest in education and R&D in order to become innovative. These countries have set up agencies to foster innovation and have conversations and make joint investments with other countries. Learning from organizational aspects is
The speaker emphasizes the importance of guiding growth in a direction that aligns with desired outcomes, and acknowledges that strong public policy is necessary to achieve this. They mention the concept of "green" as a good choice for this direction, encompassing considerations such
Depressions have been eliminated thanks to government intervention and counter-cyclical spending. However, the recent global crisis has caused governments to cut back on spending, leading to a disaster. In China, the government is investing billions of dollars in innovation,
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