207 Video: Mariana Mazzucato: The Entrepreneurial State

Mariana Mazzucato is a Professor in Economics at the University of Sussex, where she holds the RM Phillips Chair in Science and Technology Policy. She is interested in the interactions between technological change, economic growth, and the ways that industries are structured. Her recent work has looked at the leading role of the State in fostering innovation, and hence the implications of “austerity” for Europe’s ability to be an “Innovation Union.” In her last book, The Entrepreneurial State—which she discusses in the following video—she argues that active State investment has been the secret behind most radical innovations and that this requires economists to analyze the State as market “maker” and market “shaper,” not just as market “fixer.”