“I often use the iPhone as an example of how governments shape markets, because what makes the iPhone ‘smart’ and not stupid is what you can do with it. And yes, everything you can do with an iPhone was government-funded. From the Internet that allows you to surf the Web, to GPS that lets you use Google Maps, to touch screen display and even the SIRI voice activated system - all of these things were funded by Uncle Sam through the Defense Advanced Research Projects Agency (DARPA), NASA, the Navy, and even the CIA!” UseGovernmentVoiceCan DoStupidExampleInternetShapesProjectsSmartResearchDefenseAgencyMapsDisplayGoogleUnclesNavyCiaIphoneSurfNasaNot StupidGpsUncle SamSiriGoogle Maps Author:Mariana Mazzucato
“Government support is not only investing in upstream areas like basic research, but also in downstream areas like applied research and early-stage financing for the companies themselves. This means there are great risks.” MeanGovernmentCompanySupportRiskStageResearchAreasInvestingFinancingGreat RiskBasic Research Author:Mariana Mazzucato
“Mainstream economic theories popular in the last several decades have tended to downplay the government's role in markets and to increase skepticism about even that more limited role. Austerity, particularly in Europe, has added to the problem. It has not worked, even on its own terms.” ProblemGovernmentLastsTermRolesEconomicTheoryEuropeIncreaseDecadesMainstreamSkepticismAusterityEconomic Theory Author:Mariana Mazzucato
“Green is not just about renewable energy. It's also about creating a new direction for the whole economy. This requires government to step up, not step back, creating the kinds of mission-oriented public organizations that will enable us to tackle climate change - as ambitious as those that got us to the moon. It also requires the financial sector to be less short-term since we know that short-term finance has distorted incentives and directions in areas like biotechnology.” KnowsKindWholeGovernmentEnergyTermStepsEconomyMoonCreatingAreasOrganizationGreenClimateClimate ChangeFinancialMissionsFinanceAmbitiousIncentivesShort TermStep UpRenewable EnergyNew DirectionsBiotechnology Author:Mariana Mazzucato
