Winners Only the State Can Pick: Mariana Mazzucato's The Entrepreneurial State

In The Entrepreneurial State, Mazzucato, a Professor of Economics at the University of Sussex, argues that contrary to the popular opinion of many, the state is an innovative, entrepreneurial actor in ways that the private sector cannot be, because only the state possesses the vision, resources and long-term commitment necessary to facilitate large-scale or speculative innovation. Private actors, in contrast, step in only once the state has laid the technological and legal framework to establish a viable market.