Innovation is vital to our prosperity. Without trailblazing entrepreneurs and inventors, we would not be able to live the long and comfortable lives that we live today compared to how our ancestors lived. Some economists argue that government direction and funding is the key to innovation. Other economists state that research and development is a public good and the lack of innovation is a market failure, and thus governments should fund more R&D. Perhaps the most prominent proponent of a more muscular government innovation agenda is Mariana Mazzucato in her book, The Entrepreneurial State.
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