Relevant
Relevant Feed
Bringing context to the space between culture and technology.
1486 Members
See All
We'll be adding more communities soon!
© 2019 Relevant Protocols Inc.
74
No! It’s time we all understood that this mess can’t be ‘fixed’. “To Mazzucato, a Green New Deal could be as bold as the 1969 moonshot”? More like as self-aggrandizing for bourgeois ecomomics as the 1969 moonshot for US-imperialism. A woke reformist is still just a reformist. Pity!
43
I don't particularly agree with the claim that "capitalism is something to be fixed" either, however, I was particularly interested in this public/private dynamic of sponsorship. It counteracts the prevailing myth of "a narrow group of young white men in California," and suggests a deeper collective reality with which capitalism or neo-liberal ideology intentionally obscures.
45
"The development of Google’s search algorithm, for instance, had been supported by a grant from the National Science Foundation, a US public grant-awarding body. Electric car company Tesla initially struggled to secure investment until it received a $465 million (£380 million) loan from the US Department of Energy. In fact, three companies founded by Elon Musk — Tesla, SolarCity and SpaceX — had jointly benefited from nearly $4.9 billion (£3.9bn) in public support of various kinds. Many other well-known US startups had been funded by the Small Business Innovation Research programme, a public venture capital fund. “It wasn’t just early research, it was also applied research, early stage finance, strategic procurement,” she says. “The more I looked, the more I realised: state investment is everywhere.” "That posed an urgent, more fundamental problem. If it was the state, not the private sector, which had traditionally assumed the risks of uncertain technological enterprises that led to the development of aviation, nuclear energy, computers, nanotechnology, biotechnology and the internet, how were we going to find the next wave of technologies to tackle urgent challenges such as catastrophic climate change, the epidemic of antibiotic resistance, the rise of dementia? “History tells us that innovation is an outcome of a massive collective effort – not just from a narrow group of young white men in California,” Mazzucato says. “And if we want to solve the world’s biggest problems, we better understand that.”