Leonardo Burlamaqui - Rethinking the State - Series 2
Channel: Rethinking the State
Date: 2013-07-17

Leonardo Burlamaqui (Ford Foundation), one of the leaders of Ford's Reforming Global Financial Governance initiative, argues that rethinking the State necessarily involves rethinking markets. He problematizes the standard view that markets 'work' and are self-regulating by default, and that, consequently, the State should only promote perfect competition and correct market failures. In reality, the kind of market competition that prevails is not 'perfect' but based on Schumpeterian 'creative destruction', and the State's role is to manage creative destruction (a multiple-item State agenda). 

Rethinking the State is a video project coordinated by Prof. Mariana Mazzucato (SPRU/University of Sussex) that links two research grants (Ford Foundation's Entrepreneurial State and INET's Financing Innovation). Every week we release a new video with leading international economists voicing their views on topics such as the role of the State in the economy and in the innovation process, the global financial system, the current economic crisis, the side-effects of austerity measures, and alternative growth and innovation policies.

More info: http://marianamazzucato.com/projects/rethinking_the_state/