Innovation systems : from fixing market failures to crating markets / por Mariana Mazzucato. --
By: MAZZUCATO, Mariana.
Material type:
ArticlePublisher: Brasília : Enap, 2015Description: p. 627-640.Subject(s): Mercado
| Inovação | Eficiência | Política Comercial | IntervençãoOnline resources: Acesso ao PDF Revista do Serviço Público - RSP v. 66, n. 4, p. 627-640, out. 2015.Abstract: This paper presents a critique of the market failure theory, focusing on its limitations for explaining the creation of new markets. From a review of the literature on the subject and several examples, I argue that the state has an essential role in fostering innovation. Therefore, the challenges for innovation in the future should be less focused on the worries about picking winners and crowding out. Instead, we must open up the discussion towards four key questions: 1) directions; 2) evaluation; 3) organisational change; 4) risks and rewards
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This paper presents a critique of the market failure theory, focusing on its limitations for explaining the creation of new markets. From a review of the literature on the subject and several examples, I argue that the state has an essential role in fostering innovation. Therefore, the challenges for innovation in the future should be less focused on the worries about picking winners and crowding out. Instead, we must open up the discussion towards four key questions: 1) directions; 2) evaluation; 3) organisational change; 4) risks and rewards
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