Analysing various case studies of innovation-led growth, it describes the opposite situation, whereby the private sector only becomes bold enough to invest after the courageous State has made the high-risk investments.The volume argues that in the history of modern capitalism, the State has generated economic activity that would not otherwise have happened, and has actively opened up new technologies and markets that private investors can later move into. Far from the often heard criticisms of the State potentially 'crowding out' private investments, the State makes them happen, shaping and creating markets, not only 'fixing' them. Ignoring this reality only serves ideological ends, and hurts effective policymaking.This book examines case studies ranging from the advent of the Internet to the emergence of the biotechnology and nanotechnology industries. In particular, the volume debunks the myth that Silicon Valley was created by entrepreneurial venture capital. A key chapter focuses on the State investments behind Apple's success, and reveals that every major technology behind the iPhone owes its source to public funds. Thus, while entrepreneurial individuals like Steve Jobs are needed, their success is nearly impossible without their ability to ride the wave of State investments. And if Europe wants its own Googles, it needs more State action, not less.Two forward-looking chapters focus on the emergence of the next big thing after the internet: the 'green revolution'. Both solar and wind technology are currently being led by State spending, whether through the US ARPA-E programme or the Chinese and Brazilian State investment banks. The discussion refreshingly moves beyond the usual division between proponents of austerity vs. the proponents of fiscal stimulus. It argues that State investments not only help kick-start growth during periods of recession, but that they also, even in boom periods, lead to productive investments in radical new technologies which later foster decades of growth.The book ends with a fundamental question: if the State is so important to investments in high-risk innovation, why does it capture so little direct return?

    Students lashing out at any speaker brave enough to say something they disagree with. Precious snow flakes demanding “Safe Spaces” to protect them from any idea they haven’t heard from their liberal professors. In this book and the accompanying movie, Dennis Prager, Mark Joseph, and Adam Carolla expose the attack on free speech and free thought. It began in the universities, but—fair warning—it’s coming to your neighborhood and your workplace. “No Safe Spaces is a film every American should see. I could barely move when it was over. Powerful, emotional, and a call to action for anyone worried about the intellectual fascism happening in this country. A brave, timely, and important film.” —MEGYN KELLY, former FOX News anchor and host of Megyn Kelly Today “There is no free speech in America for free thinkers! You can have free speech in America but only if you say what everybody else agrees with. It’s not enough to ‘live and let live’ now. The psycho-elite believe ‘silence is violence’ and you must actively promote what THEY want no matter how vile or reprehensible it is to you. George Orwell lives! They should’ve called Orwell ‘Nostradamus’ because his most frightening prophecies have come to pass, as you will witness in No Safe Spaces!” —MANCOW MULLER, radio phenomenon “An excellent film, the best I’ve seen on the subject of free speech. I especially like Dennis’s line, ‘They have to believe we are evil; otherwise they’d have to debate us.’ Perfect!” —CAL THOMAS, America’s #1 syndicated columnist

    Modonna Harris and her teenage daughter Brianna in Chicago often have no food but spoiled milk on weekends. After two decades of brilliant research on American poverty, Kathryn Edin noticed something she hadn’t seen since the mid-1990s — households surviving on virtually no income. Edin teamed with Luke Shaefer, an expert on calculating incomes of the poor, to discover that the number of American families living on $2.00 per person, per day, has skyrocketed to 1.5 million American households, including about 3 million children. Where do these families live? How did they get so desperately poor? Edin has procured rich — and truthful — interviews. Through the book’s many compelling profiles, moving and startling answers emerge. The authors illuminate a troubling trend: a low-wage labor market that increasingly fails to deliver a living wage, and a growing but hidden landscape of survival strategies among America’s extreme poor. More than a powerful exposé, $2.00 a Day delivers new evidence and new ideas to our national debate on income inequality.