Segments in this Video

The Smart State: Introduction (01:10)


This film examines whether economic growth and innovation originate from the private sector, if we will have enough money to invest in new technologies, and solutions other countries have found.

Smart Innovation-led Growth (05:46)

Mariana Mazzucato debunks the myth that new technology comes from the private sector. Frans Nauta discusses technological development history while disassembling a smart phone; Apple purchased and integrated academic research.

Public Sector and Innovation (03:03)

Mazzucato cites funding sources for technology and the impact of financial cuts in the public sector. Nauta disassembles a smart phone and reflects on government-funded science; Apple is a champion at entering markets when experts see the potential.

Project Amaze (05:01)

Airbus is interested in the 3D printing and joined the project with ESA. Experts discuss creating 3D metal components for various technological applications; see titanium test parts and a bracket. David Jarvis cites the importance of government funding and technological benefits; Mazzucato considers "free gifts" versus taxes.

Technological Benefits vs. Taxes (03:57)

Jarvis states the values that reach the public are the adoption of innovative technologies and job creation. Mazzucato counters that while job creation is an important mechanism, company tax rates have significantly declined; profits are directly related to technologies that were publicly funded. The business sector needs to invest in development.

Big Pharma (02:03)

The state has played a significant role in the life sciences sector. Mazzucato discusses frictions with the pharmaceutical industry.

Cost of Treating Rare Diseases (05:53)

Collaboration between the government and pharmaceutical industry is necessary for the development of orphan drugs. Jan Timmerman was diagnosed with Gaucher's disease and underwent enzyme therapy treatments, costing an average of €150,000 per year.

Orphan Drug Policies (02:49)

Mazzucato states that these policies should have government intervention, but the government needs to cap the pricing of the drugs. Money should return to the public coffer but it is not; innovation will not occur because public money is under attack.

Danish Growth Fund (07:15)

The government in Denmark started an investment fund to purchase shares in Danish startup companies including Universal Robots. Esben Ostergaard explains the robotic arm and partnering with the Danish Growth Fund. Returns on investments will filter to new companies.

Inspiring Innovation and Ambitious Goals (05:53)

Mazzucato likes JFK's speech about going to the moon because it argues the acceptability of dreaming. Martin Lidegaard explains Denmark's vision to become fossil fuel free by 2050; Mazzucato supports the approach.

Switch to Renewable Energy (04:36)

The Danish plan is good for the environment and the economy. The public sector is good for stability whereas the private sector is good for concrete solutions. The key point in Mazzucato's work is how to make capitalism functional.

Credits: The Smart State (00:21)

Credits: The Smart State

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The Smart State

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We think new technology is developed by companies like Google and Apple, but is this true? Italian American economist Mariana Mazzucato delved into the origin of new technology and discovered that governments have more influence than we think. She claims that technological progress will be seriously delayed if innovation is left only to the private sector. This program explores the innovation climate in Europe, to find out what role governments and the private sector play in this, where new technologies come from, who finances their development and the most important, who profits from them.

Length: 49 minutes

Item#: BVL115473

Copyright date: ©2015

Closed Captioned

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