Cooking the Books: John McDonnell Imagines

[PJShannon]

Following is a discussion on the page titled: Cooking the Books: John McDonnell Imagines.
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[Young Master Smeet]

Cooking the books wrote:

Don’t ask us what an ’entrepreneurial state’ is. It sounds like a state that will help entrepreneurs.

The Entrepreneurial State (Anthem Other Canon Economics)by Mariana Mazzucato  (Author)

Quote:

This bestseller from leading economist Mariana Mazzucato – named by the 'New Republic' as one of the 'most important innovation thinkers' today – is stirring up much-needed debates worldwide about the role of the State in innovation. Debunking the myth of a laggard State at odds with a dynamic private sector, Mazzucato reveals in case study after case study that in fact the opposite situation is true, with the private sector only finding the courage to invest after the entrepreneurial State has made the high-risk investments. Case studies include examples of the State's role in the 'green revolution', in biotech and pharmaceuticals, as well as several detailed examples from Silicon Valley. In an intensely researched chapter, she reveals that every technology that makes the iPhone so 'smart' was government funded: the Internet, GPS, its touch-screen display and the voice-activated Siri. Mazzucato also controversially argues that in the history of modern capitalism the State has not only fixed market failures, but has also shaped and created markets, paving the way for new technologies and sectors that the private sector only ventures into once the initial risk has been assumed. And yet by not admitting the State's role we are socializing only the risks, while privatizing the rewards in fewer hands.

[ALB]

Anyway, not an anti-capitalist state, nor even the state acting as a capitalist.

[Young Master Smeet]

I don't know where I put the quote, but they're basically going back to Ramsay MacDonald and the idea of the state recapturing its due revenue from the wealthy.  How terrifyingly leftwing…

[ALB]

Like the SWP and the others who demand "Make the Rich Pay" which assumes the continued existence of the rich?

[Author]

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