The innovation economy

April 24, 2019

“We have not really understood the power of the state”, argues the economist Mariana Mazzucato, warning that this has had an impact on growing inequality in the creation and distribution of wealth. Mariana and Azeem Azhar discuss the role of government in business innovation and growth, risk taking as a new bureaucratic mindset and how the benefits of entrepreneurial innovation have been misinterpreted. Above all, we argue in favor of a new theory of value in today’s economy.

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In this conversation, Mariana and Azeem also discuss:

  • The role of the entrepreneurial state: moving away from the concept of the state as a facilitator and towards the state as an actor in the future of public service innovation.
  • Why the GDP model is flawed – but why we should keep it as one of many economic indicators.
  • Rampant privatization of the “data economy”.

Further reading:

Mariana Mazzucato @MazzucatoM
Azeem Azhar @azeem

HBR Presents is a podcast network curated by the editors of HBR, bringing you the best business ideas from the greatest minds in management. The views and opinions expressed are those of the authors alone and do not necessarily reflect the official policy or position of Harvard Business Review or its affiliates.

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