Reconcile Smith's 'invisible hand' with his view of government. What is the relevance of his writings for Mazzucato's view of the Entrepreneurial State
Reconcile Smith's 'invisible hand' with his view of government. What is the relevance of his writings for Mazzucato's view of the Entrepreneurial State
Smith's "invisible hand" is the idea that market forces will lead to the best possible outcomes for society, even if individuals are not acting in the best interests of society as a whole. This is because individuals acting in their own self-interest will ultimately produce results that are in the best interests of society as a whole.
Mazzucato argues that the government should play a proactive role in promoting economic growth and innovation. This is because individuals acting in their own self-interest will ultimately produce results that are in the best interests of society as a whole. The government should not simply wait for market forces to produce the best possible outcomes, but should instead take an active role.
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