A strange strand of thought has emerged in European political economy circles that has been given the name of The Entrepreneurial State. The headline claim is that the state (i.e., nation state governments) can and should intervene in the economy to bring about innovation, and that, indeed, it is absolutely necessary for grand, mission-driven undertakings such as climate change amelioration and the commercial development of next-generation technologies. Economics For Business talked to Christian Sandström, co-editor with Karl Wennberg, of Questioning The Entrepreneurial State, a compendium of analysis by thirty-two leading economists to demonstrate the fallacies of the case for an entrepreneurial state. There’s a lot of sound economics to be learned from Professor Sandström’s book.
Show notes: https://mises.org/library/christian-sandstrom-why-governments-cant-act-entrepreneurially
Questioning the Entrepreneurial State: Status-quo, Pitfalls, and the Need for Credible Innovation Policy, edited by Karl Wennberg and Chris Sandström (PDF and ePub): https://Mises.org/E4B_172_Book
"The Digital Platform Economy Index" (PDF): https://Mises.org/E4B_172_PDF
Chris Sandström on Twitter: @ChrisSandstrom
