The Entrepreneurial State: Debunking Public vs. Private Sector Myths

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Converted from ePUB Contents......Page 8 List of Tables and Figures......Page 12 List of Acronyms......Page 14 Acknowledgements......Page 17 Foreword by Carlota Perez......Page 19 Epigraph......Page 24 A Discursive Battle......Page 25 Beyond Fixing Failures......Page 27 From ‘Crowding In’ to ‘Dynamizing In’......Page 29 Images Matter......Page 30 Structure of the Book......Page 32 Chapter 1: From Crisis Ideology to the Division of Innovative Labour......Page 38 And in the Eurozone......Page 40 State Picking Winners vs. Losers Picking the State......Page 41 Beyond Market Failures and System Failures......Page 44 The Bumpy Risk Landscape......Page 45 Symbiotic vs. Parasitic Innovation ‘Ecosystems’......Page 46 Financialization......Page 48 Chapter 2: Technology, Innovation and Growth......Page 51 Technology and Growth......Page 54 From Market Failures to System Failures......Page 55 Myths about Drivers of Innovation and Ineffective Innovation Policy......Page 61 Myth 1: Innovation is about R&D......Page 63 Myth 2: Small is Beautiful......Page 64 Myth 3: Venture Capital is Risk Loving......Page 66 Myth 4: We Live in a Knowledge Economy – Just Look at all the Patents!......Page 69 Myth 5: Europe’s Problem is all about Commercialization......Page 71 Myth 6: Business Investment Requires ‘Less Tax and Red Tape’......Page 72 Chapter 3: Risk-Taking State: From ‘De-risking’ to ‘Bring It On!’......Page 76 What Type of Risk?......Page 77 State Leading in Radical (Risky) Innovation......Page 80 Pharmaceuticals: Radical vs. ‘Me Too’ Drugs......Page 83 Biotechnology: Public Leader, Private Laggard......Page 85 The National Institutes of Health: Creating the Wave vs. Surfing It......Page 86 Chapter 4: The Us Entrepreneurial State......Page 90 The Defense Advanced Research Projects Agency (DARPA)......Page 91 The Small Business Innovation Research (SBIR) Programme......Page 96 Orphan Drugs......Page 97 The National Nanotechnology Initiative......Page 100 Chapter 5: The State behind the iPhone......Page 103 The ‘State’ of Apple Innovation......Page 104 Surfing through the Waves of Technological Advancements......Page 108 From Apple I to the iPad: The State’s very visible hand......Page 109 Giant magnetoresistance (GMR), SPINTRONICS programme and hard disk drives......Page 111 Solid-state chemistry and silicon-based semiconductor devices......Page 112 From capacitive sensing to click-wheels......Page 114 From click-wheels to multi-touch screens......Page 116 Internet and HTTP/HTML......Page 117 GPS and SIRI......Page 119 Battery, display and other technologies......Page 120 Did the US Government ‘Pick’ the iPod?......Page 123 Fostering an Indigenous Sector......Page 124 Chapter 6: Pushing vs. Nudging the Green Industrial Revolution......Page 128 Funding a Green Industrial Revolution......Page 131 National Approaches to Green Economic Development......Page 134 China’s ‘green’ 5-year plan......Page 136 UK’s start–stop approach to green initiatives......Page 138 Pros and cons of the US model......Page 140 Pushing – Not Stalling – Green Development......Page 148 The Importance of Patient Capital: Public Finance and State Development Banks......Page 150 Chapter 7: Wind and Solar Power: Government Success Stories and Technology in Crisis......Page 156 Wind and Solar Power: Growth Powered by Crisis......Page 157 From the First ‘Wind Rush’ to the Rise of China’s Wind Power Sector......Page 159 Solar Power Companies and the Origin of Their Technologies......Page 164 Solar Bankruptcies: Where There’s a Will There’s a Way......Page 167 Competition, Innovation and Market Size (Who’s Complaining?)......Page 169 Conclusion: Clean Technology in Crisis......Page 171 Myth 1: It’s all about R&D......Page 172 Myth 2: Small is beautiful......Page 173 Myth 3: Venture capital is risk loving......Page 174 Building a green innovation ecosystem (symbiotic not parasitic)......Page 175 Chapter 8: Risks and Rewards: From Rotten Apples to Symbiotic Ecosystems......Page 178 Back to Apple: What Did the US Government Get Back for Its Investments?......Page 180 Apple’s job-creation myth: Not all jobs are created equally......Page 181 Apple’s love–hate relationship with US tax policies......Page 184 The paradox of miracles in the digital economy: Why does corporate success result in regional economic misery?......Page 187 Where Are Today’s Bell Labs?......Page 189 The Skewed Reality of Risk and Reward......Page 193 A New Framework......Page 197 Direct or Indirect Returns......Page 198 Chapter 10: Conclusion......Page 203 Appendix......Page 209 Bibliography......Page 211 Index......Page 241