The Peanut Butter And Jelly Of Innovation: Understanding The State’s Role In Free-Market Entrepreneurship
We are currently facing complex global challenges that require international cooperation, political knowledge and a large dose of innovation to overcome.
It’s easy to think leaving it up to corporations and the market to innovate is the answer, but it rarely works out that way in reality.
In fact, there needs to be an active role taken in order for us to truly make headway in areas like climate change.
Through The Entrepreneurial State book summary, you’ll not only learn more about the relationship between state and entrepreneurship – but also why we must work together for greater success.
For example, many people don’t realize that Google’s search algorithm was actually developed by the American government – nor do they understand why we should not leave developing green technology solely up to companies and what Apple owes taxpayers.
By reading this book you’ll finally understand why-and how-we need an entrepreneurial state working hand in hand with entrepreneurs and corporations alike in order to create real progress
It’S Time To Rethink The Role Of The State In Business And Credit Public Sector Achievements
It may surprise you to learn that the state often makes more astute investments than the private sector.
Take for instance, Google’s revolutionary search algorithm, a feat of innovation and engineering that many believe was done solely by the private sector.
But in reality, a lot of research and development was made possible due to state funding – investors were simply too afraid to take the risk on Google’s innovation.
The same can be said for the financial crash of 2007: although public opinion and economists blamed it on an overabundance of public sector debts, much of it was caused by private companies recklessly trying to up their profits, something the state wouldn’t have done.
It’s clear then, that when it comes to making savvy investments, we should not discount what the state can do – in fact, government plays an incredibly important role in making sure innovations like those achieved by Google see the light of day and can continue to revolutionize our world.
The State Is The Risk-Taker That We Need To Drive Technological Progress
The entrepreneurial state is an intrepid investor, ready to take risks on cutting-edge projects that are likely to have lasting impacts.
While venture capitalists may shy away from new and unknown technologies, the state has shown time and time again that it is willing to put its money where its mouth is.
This was particularly clear with the US Department of Defense’s investment into the internet technology that makes so much of our modern lives possible.
But this risk-taking doesn’t stop there: the Small Business Innovation Research (SBIR) program has proved pivotal for small firms seeking research funding to develop revolutionary technologies.
Through SBIR, the government has allocated $2 billion dollars a year to pioneering tech companies and start-ups.
Even Apple, often seen as a symbol of innovation, owes some of its success to state-funded innovation projects.
Without government spending in communication technology, touch screens, GPS and more would not have been developed by Apple at all!
So it’s clear that when it comes to pushing technological development forward, no one takes greater risks than the entrepreneurial state.
Whether it be communication or groundbreaking green technology breakthroughs, we can rely on our governments daring attitude towards progress to pave the way for a better future.
The Need For An Entrepreneurial State To Accelerate Green Technology Solutions For Global Energy Needs
The advancement of green technology is essential if we are to reduce the impacts of global warming.
However, these technologies require further research and development in order to keep up with our ever-growing energy demands.
Unfortunately, venture capitalists are unwilling to invest due to concerns of return on investment.
This is where entrepreneurial states come in.
Governments in different nations are coming together to help fund the development and growth of green technology.
They recognize how important it is for it to be economically beneficial for all people, so that it can eventually compete with other more damaging energy sources on the market.
Germany and China lead the world in their investment towards a more sustainable future, investing millions each year into researching, developing, and commercially producing green technology products.
The role that entrepreneurial states play in advancing green technology cannot be understated; without their involvement, many major advancements and innovations would never have been created or brought to market.
It’s clear that governments need to do their part if we’re going to make progress in creating a greener world for the future.
The Entrepreneurial State: Empowering Innovation With Accurate Credit And Increased Transparency
State-funded successes need to be felt and enjoyed by citizens and the economy.
After all, taxpayers have made the investments possible in first place.
While Apple, for example, has made tremendous profits from its products resulting from state-funded technologies, apples return to the American economy has been negligible.
Low wages of Apple store workers is one way this company fails to return much back to its citizens.
Rather than allowing private companies to take sole credit for their inventive work, governments must emphasize how taxpayer money helps develop sustainable technologies that benefit our world.
To truly reap the rewards of state-funded successes, governments must consider measures such as taxation and royalties on these resources while also preventing companies from avoiding taxation through profit shifting tactics to other countries.
These steps would ensure that citizens actually get something back for their contribution in making groundbreaking new technology and businesses possible.
Therefore, The entrepreneurial state should be seen as a major player in tomorrow’s economy as research and innovation can only happen with financial support it provides.
The Entrepreneurial State by Mariana Mazzucato provides a thought-provoking summary of how government can be an agent of change.
We learn that state investment is key in driving forward game-changing technologies – ones we use in day to day life now but would have been unheard of before the advent of government intervention.
Mariana effectively advocates for the importance of governments playing the role of the risk-taking, entrepreneurial investor to drive innovation forwards and ensure citizens receive a return on their tax dollar investments.
It’s clear that with a bit more understanding, trust and collaboration between all stakeholders, we could reach true transformative leaps towards renewable energy technology revolutionization.