Abstract

NOGUEIRA-CENTENERA, Antonio. Entrepreneurs, innovation and State in John Kenneth Galbraith and Mariana Mazzucato. Rev.econ.inst. [online]. 2020, vol.22, n.42, pp.109-125. ISSN 0124-5996.  https://doi.org/10.18601/01245996.v22n42.05.

John K. Galbraith distinguished between the planning system directed by the large company, and the market system of entrepreneurs. Technological change and alterations in economic life in industrialized countries have made the role of large corporations in collusion with the State inevitable. However, the individual company maintained relevance in Galbraith's work: arts and design in many facets are the stronghold of small business, and an expansive part of economic life. Almost everyone admires the entrepreneurs, not the multinationals. Today, the debate has moved to the innovative role of the State that visualizes risks and operates daringly in the way of entrepreneurs, catalyzing private investment into new sectors -as Mariana Mazzucato highlights in her work.

JEL: B31, P12, M13, L25

Keywords : John Kenneth Galbraith; Mariana Mazzucato; capitalist enterprises; entrepreneurship; firm size.

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