THE ENTREPRENEURIAL STATE

Authors

Keywords:

state, market, innovations, public investments

Abstract

This paper presents some observations on the book The Entrepreneurial State with the subtitle breaking the myths about the conflict between the social and private sectors, analyzes the importance and role that the state plays in the modern market economy.
Тhroughout history, the state has served not only to regulate the market, but also as a very reliable investor, who almost always, when required to do so, took great risks by investing in new technologies and ideas. The state has an entrepreneurial role in the economic system, takes risks in launching new and concrete clean technologies and early "risky" investments, and is almost never able to return at least a part of the earnings from innovations and new technologies that it financed itself. Government expenditures in the field of education, national defense, health, as well as various social expenditures undoubtedly affect macroeconomic trends in the economy and thus economic development.

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Published

2021-03-01