The Entrepreneurial State and the Risk-Reward Relationship

Add to your list(s) Download to your calendar using vCal

• Professor Mariana Mazzucato RM Phillips Professor in the Economics of Innovation at SPRU in the University of Sussex
• Wednesday 14 May 2014, 17:00-19:00
• Lecture Room, Institute for Manufacturing IfM.

If you have a question about this talk, please contact Antonio Andreoni.

Free event, registration required.

The talk will focus on the relationship between the State and the Market. I will argue that the State not only ‘fixes’ different problem/failures in the market (of which there are many) but also actively shapes and creates markets. It does so in the face of extreme risk and uncertainty. I will consider different implications (theoretical, empirical, and ‘political’) of the blindness of economics (as a discipline) to understanding the State as market maker and lead risk-taker in capitalist economies— beyond the traditional ‘market failure’ framework. A key implication concerns the way in which risks have been socialised, while rewards privatised. The talk will consider concrete mechanisms to reform this dysfunctional relationship, building more ‘symbiotic’ eco-systems between the public and private sector, and achieving growth that is not only ‘smart’ but also ‘inclusive’

This talk is part of the Babbage Lecture Series series.

This talk is included in these lists:

• Babbage Lecture Series
• Lecture Room, Institute for Manufacturing IfM

Note that ex-directory lists are not shown.