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The Entrepreneurial State "Debunking Public vs. Private Sector Myths"

The Entrepreneurial State "Debunking Public vs. Private Sector Myths"

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  • ISBN:9780857282521
  • Editorial: Anthem Press
  • Fecha de la edición:
  • Encuadernación:
  • Nº Pág.:264
  • Idiomas:Ingles

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This book debunks the myth of a dynamic private sector vs. a sluggish public sector by providing a detailed account of the role of the public sector in taking on high-risk entrepreneurial investments, from the Internet to the green revolution. This book, which builds on the authors work for a high-impact DEMOS report, debunks the myth of the state as a large bureaucratic organization that can at best facilitate the creative innovation which happens in the dynamic private sector. Analysing various case studies of innovation-led growth, in particular examples from Silicon Valley - from the Internet to the technologies behind the iPhone - it describes the opposite situation, whereby the private sector only finds the courage to invest after the entrepreneurial state has made the high-risk investments. It argues that in the
history of modern capitalism - and today in what might soon become the 'green revolution - the state has not only fixed market failures but also shaped and created markets, actively investing in new technologies and sectors that
private investors only later find the courage to move into.
The book ends with a fundamental question: if the state is so important to investments in high-risk innovation, why does it capture so little direct return?

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