The State and Innovation: Socialising Both Risks and Rewards, by Mariana Mazzucato
27th April 2017
CCCB Centre de Cultura Contemporània de Barcelona. Carrer Montalegre, 5 - 08001 Barcelona
Summary:Building on her book The Entrepreneurial State: debunking private vs. public sector myths, Mazzucato’s talk will focus on the public sector investments that led to the Silicon Valley growth model. She will argue that the limited narrative of the state’s role in innovation—in the media, in policy and in economic theory— as only ‘fixing markets’ rather than co-creating and shaping them, has justified risks to be socialised while profits are privatised. It is this, not the “robots", that are leading to the problematic relationship between innovation and inequality. The talk will end by considering the concrete implications of a more collective understanding of wealth creation, and new ways to rethink public private contracts that lead to more inclusive growth.