Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/297280 
Year of Publication: 
2024
Series/Report no.: 
IFN Working Paper No. 1484
Publisher: 
Research Institute of Industrial Economics (IFN), Stockholm
Abstract: 
The notion that society should be organized around large so-called missions has gained momentum in public debate, and the reemergence of active industrial policy across the world has been inspired by academic scholars promoting the idea of Mission-Oriented Innovation Policies (MOIPs). The volume Moonshots and the New Industrial Policy: Questioning the Mission Economy provides a comprehensive assessment and normative critique of the efficacy of such policies. Besides the introductory chapter, it consists of 16 chapters distributed across three overarching themes: theoretical perspectives, empirical evidence, and alternative paths. This paper provides some additional analysis, pins down the most important general conclusions and suggests future research questions. Today's economies are highly dependent on a well-functioning process of decentralized experimentation, selection, and screening. Instead of large scale MOIPs, governments should strive to create an institutional framework that levels the playing field for potential entrepreneurs while encouraging productive entrepreneurship.
Subjects: 
Mission-oriented policies
Innovation policy
New industrial policy
Moonshots
Rent seeking
Public choice
JEL: 
H50
L26
L52
O31
O38
P16
Document Type: 
Working Paper

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