Exploring Economic Vision, Social Justice, and the Role of Government

Introduction

Mariana Mazzucato’s influential work, The Entrepreneurial State, reimagines the role of government in driving innovation, risk-taking, and economic growth. Contrary to the commonly held narrative that the private sector is the sole engine of progress, Mazzucato places public institutions at the heart of technological advancement and prosperity. This analysis has sparked considerable debate in economic, political, and social circles.

Examining her thesis through a Quaker lens—one grounded in principles of simplicity, peace, integrity, community, equality, and stewardship—offers a unique vantage point on the relationship between state, society, and economy.

The Core Arguments of The Entrepreneurial State

Mazzucato contends that the state is far more than a regulator or safety-net provider: it is a proactive, risk-embracing catalyst for innovation. She meticulously documents instances where major technological leaps—from the internet to biotechnology—were made possible by bold government investments, not by private enterprise alone. The state, she asserts, not only mitigates market failures but actively shapes and creates markets, often absorbing the risks that the private sector is unwilling or unable to take on.

Mazzucato’s work challenges the myth of the “free market” as completely free from intervention, showing that public funds and vision lay the groundwork for private success. Her analysis calls for recognition of the state’s entrepreneurial role and for more equitable returns on public investment. She advocates for a reframing of the value system that underpins economic policy, urging greater accountability, transparency, and reciprocity between public and private sectors.

Quaker Principles: Foundations for Economic Reflection

Quakerism, or the Religious Society of Friends, has a long tradition of engaging thoughtfully with social, economic, and political issues. Rooted in faith and practice rather than doctrine, Quaker perspectives are shaped by “testimonies”—guiding values that inform action and reflection.

• Simplicity: Valuing what is essential, resisting excess, and seeking honest purpose.
• Peace: Commitment to nonviolence, reconciliation, and constructive engagement.
• Integrity: Honesty, transparency, and wholeness in all dealings.
• Community: Building inclusive, supportive relationships for collective benefit.
• Equality: Recognizing the unique worth of every person and dismantling unjust structures.
• Stewardship: Responsible management of resources for the well-being of all creation.

These testimonies serve as touchstones for considering the ethical dimensions of economic life, including the roles of government, business, and individuals.

A Quaker Critique and Embrace of Mazzucato’s Analysis

Approaching Mazzucato’s analysis from a Quaker perspective invites both affirmation and critique. The following sections explore how her arguments resonate with and challenge Quaker values.

Community and Collective Responsibility

Mazzucato’s vision for an entrepreneurial state aligns strongly with the Quaker testimony of community. By highlighting how public investment benefits society at large, she underscores the importance of collective responsibility. Quakers have historically supported initiatives—such as fair wages, safe working conditions, and social welfare—that strengthen communal well-being. Mazzucato’s call for acknowledging and rewarding the state’s role in innovation dovetails with the Quaker emphasis on shared prosperity and mutual accountability.

Her critique of the privatization of publicly funded innovation speaks to the Quaker concern for justice and fairness. If public funds enable private profits, then reciprocity should ensure the broader community also shares in the rewards. This echoes Quaker advocacy for economic systems that serve the common good, not just individual gain.

Integrity and Transparency

The testimony of integrity is central to Quaker life. Transparency in government investment and in the allocation of returns is vital to trust and accountability. Mazzucato’s demand for clearer recognition of the state’s contribution and for structures ensuring public benefit resonates with the Quaker call for honesty and openness in all public affairs.

Where her analysis critiques the opacity of financial flows, tax systems, and investment rewards, Quakers may find a shared concern for reforming practices that obscure the true sources of value and undermine constructive stewardship.

Equality and Access

Quakers have long advocated for the dismantling of barriers to opportunity and for the redistribution of resources to address inequality. Mazzucato’s work reveals how the state’s risk-taking underpins not only technological progress but also the possibility of democratizing access to its fruits. When governments invest in innovation, they have the power—and, some would say, the moral obligation—to ensure that the resulting benefits are shared equitably.

From a Quaker perspective, policies that foster inclusion and support marginalized communities are paramount. The entrepreneurial state, if guided by these values, could become an instrument for greater social justice.

Stewardship and Sustainability

Mazzucato’s analysis offers substantial material for reflection on stewardship. Government investment in research, infrastructure, and innovation must be undertaken with a sense of responsibility for long-term outcomes. Quakers would urge that such stewardship not be limited to financial returns, but include environmental sustainability, social cohesion, and the flourishing of all creation.

As governments confront global challenges—climate change, public health, and resource management—a Quaker lens looks for decision-making that prioritizes the planet and its people above short-term profit.

Simplicity and Purpose

In an age of complexity, Mazzucato’s insistence on recognizing the state’s foundational role can be seen as an exercise in simplification: stripping away myth and ideology to reveal the essential drivers of progress. Quakers value honest purpose—economic systems should serve life, not vice versa. State entrepreneurship, as Mazzucato envisions it, is justified not by growth alone, but by its potential to enhance the well-being of society.

Challenges and Concerns from a Quaker Perspective

While Mazzucato’s analysis is largely compatible with Quaker testimonies, certain tensions remain. Quakers are wary of concentrated power, whether in corporate or governmental hands. The entrepreneurial state must guard against bureaucratic inertia, lack of accountability, and disregard for local wisdom and initiative. Vigilance is needed to prevent state-driven innovation from becoming detached from the needs and voices of ordinary people.

Furthermore, Friends may question the underlying assumptions about economic growth and progress. Is innovation always positive? Does state investment necessarily serve peace, equality, and stewardship, or can it sometimes perpetuate cycles of consumption, exploitation, and environmental harm? Quaker discernment calls for ongoing reflection on the ends as well as the means.

Practical Applications: Toward a Quaker-Inspired Entrepreneurial State

If governments are to embrace an entrepreneurial ethos in the Quaker spirit, several practical steps could be considered:

• Designing policy frameworks that maximize transparency and public engagement in decision-making.
• Ensuring that the returns on public investment are reinvested in community well-being, education, healthcare, and environmental restoration.
• Promoting inclusive innovation that addresses real human and ecological needs, not just market profitability.
• Protecting minority voices and local expertise in the shaping of national innovation strategies.
• Establishing mechanisms for regular review and discernment, asking: Does this serve peace, equality, and stewardship?

Conclusion

Mariana Mazzucato’s The Entrepreneurial State offers a powerful corrective to the myths that have shaped modern economic discourse. Her recognition of the government’s creative and risk-bearing role opens new possibilities for imagining a more just and sustainable future.

Through the lens of Quaker testimonies, her analysis finds both affirmation and challenge. The entrepreneurial state, if imbued with values of community, equality, stewardship, integrity, and simplicity, could become an agent of genuine transformation. Yet, Quaker discernment insists on vigilance: progress must be measured not only in terms of innovation and growth, but by the depth of care shown for the planet and all its inhabitants. As Friends would say, let us walk cheerfully over the earth, seeking that of God in everyone—and, perhaps, in the very structures of our shared economic life.

Hill HouseSeptember 2025