Public-Steering and Private-Performing Sectors: Success and Failures in the Swedish Finance, Telecoms, and City Planning Sectors

Abstract Mariana Mazzucato embraces state-directed public/private investment in innovation to achieve goals that society as a whole would benefit from. The idea is the state should direct and private sphere perform needed. We argue this view biased toward successful examples of created by public sector steering performing. Generally, vested interests are these kinds public-steering–private-performing innovations, which hinder or malinvest resources through their information problems when market forces put out play. present explore process two deregulation cases one failed case highlight differences processes leading different outcomes; most important being existence institutional entrepreneurs acting typical change agents lack thereof example. These importance both passive incumbents proactive entrants for enabling change. contrast with public-steering private-performing framework.