IAS Lies: Myths around the public sector and whose interests are served by the underlying lies
by Mariana Mazzucato (IIPP, UCL)
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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