Comparing the effectiveness of private and public sector innovation: A review essay of The myth of the entrepreneurial state

Rodney Yerger ()
Additional contact information
Rodney Yerger: George Mason University

The Review of Austrian Economics, 2024, vol. 37, issue 4, No 6, 477-494

Abstract: Abstract Deirdre McCloskey and Alberto Mingardi’s book The Myth of the Entrepreneurial State highlights a critical debate over the effectiveness of state-guided innovation by providing a detailed assessment of the claims made by Mariana Mazzucato in The Entrepreneurial State: Debunking Public vs. Private Sector Myths that the government is the boldest innovator accountable for the greatest value to society. Many of Mazzucato’s assertions of the state providing mission-oriented directionality that drives technology development do not survive the scrutiny of McCloskey’s Supply-Chain Fallacy nor the reality that the government can successfully harness creative destruction. However, there are occasions of public sector innovation success in the development of military technologies, particularly during times of war, which can have beneficial spillover effects. Understanding the sufficient conditions that foster innovation and the impacts of government’s influence over entrepreneurship will have critical implications and pattern predictions on future economic growth and development.

Keywords: Public Goods; Entrepreneurship; Innovation; Political Economy (search for similar items in EconPapers)
JEL-codes: H41 L26 O31 P16 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s11138-023-00627-x Abstract (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:revaec:v:37:y:2024:i:4:d:10.1007_s11138-023-00627-x

Ordering information: This journal article can be ordered from
http://www.springer. ... ce/journal/11138/PS2

DOI: 10.1007/s11138-023-00627-x

Access Statistics for this article

The Review of Austrian Economics is currently edited by Peter Boettke and Christopher Coyne

More articles in The Review of Austrian Economics from Springer, Society for the Development of Austrian Economics Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().