"According to Mazzucato, the state should set clear, #ambitious goals but stay agnostic on how to get there. This involves placing bets on multiple technologies that might work – as #NASA did – learning from mistakes quickly and, crucially, sharing rewards (not just risk) with the businesses that receive support."
So many of us scratch our heads why Putin loves the far right of the present day. It's not simply because their talking heads are easy to influence and turn into sycophants. It's because he knows his history, and all of Russia remembers how America's #entrepreneurialstate crushed communist competition in the 1960s, arguably when the former Soviet Union was at its strongest.
America went from an interesting curiosity in the 19th century to a world power in the 20th century because of transcendent developmental value exchange and cooperation between the #publicsector and #privatesector. Taxpayers of the 20th century, in essence, were the most effective investors America has ever had, even if they had to rely on their government representatives to figure out what to invest in. We #taxpayers need such representatives to think about the future because we are too busy doing the work that makes America run on the infrastructure they provide.
There is no way even the wealthiest of America's companies could have built the #infrastructure on which we and they all depend. There is no way they could have failed early and often with a multitude of R&D #speculation that eventually finds its way into good bets for business and eventually viable products and services for consumers. There is no way they could have pushed vast amounts of funds into research and developed a technically sophisticated #workforce that would dream and produce beyond the imagination of their predecessors.
Even China and the oil-rich nations of the Middle East, in recent years, promulgated a diaspora to siphon ideas from the bounty in America's various hubs of R&D innovation stimulated largely by America's entrepreneurial state.
And even spaceflight--that a prior generation thought would only be the purview of government--is becoming a #commercialspace industry, yet only because of what NASA and other space agencies have provided to them. The hard work was done by government-funded R&D with a #mission orientation that no commercial entity would have had the patience for.
We appropriately thrill at the accomplishments of these 21st century commercial space "sooners," hoping that they will settle in responsibly. We are thrilled that, with vastly more sophisticated technology, they are replicating the accomplishments of the #Mercury and #Gemini programs sixty years ago. As we look on, and as some of us pay (again) for a ride, taxpayers also should say "you're welcome" to these commercial firms and say "job well done" to ourselves.
Let's think more carefully about false dichotomies that have crept into our popular culture. There is work to do to create a better world.
The Telegraph explores Mariana Mazzucato's influence on the newly elected UK government and their 5 missions.
Read the interview to hear how Labour's election pledges can be transformed into concrete missions that change how government works.
➡️ https://lnkd.in/ejKXzmWM
