Institute of Advanced Studies (IAS)


IAS Lies: Myths around the public sector and whose interests are served by the underlying lies

by Mariana Mazzucato (IIPP, UCL)

Mazzucato 2

17 July 2018

The false dichotomy between "the public sector" and "the private sector" leaves out the vital role that government has played - and must continue to play - in acting as financial backer and risk-taker in the most important innovations of our time that can help tackle the grand challenges facing us. Furthermore the lie ends up causing a situation by which risks are socialised while returns are privatised.

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