GCSJ seminar series: Towards an entrepreneurial welfare state? An empirically informed theoretical perspective

Speakers: Professor Theo Papaioannou, Ville Takala (UCL)

The recent turn towards “challenge-driven” or “mission-oriented” or “transformative” or “problem-oriented” innovation has emphasised that governments must proactively shape and co-create market and innovation processes for the common good. In this paper, we focus on the prospect of an entrepreneurial welfare state. We argue that an entrepreneurial welfare state ought to redistribute the benefits of innovation. However, getting the level of redistribution right is crucial for maintaining incentives for innovation. An entrepreneurial welfare state depends on the balance between entrepreneurial functions and welfare functions.