“The public sector is often seen as sclerotic and conservative in contrast with a dynamic and innovative private sector. This assumption lies at the basis of much of the outsourcing of public services to the private sector. In this interview and her new book, Mariana Mazzucatoargues against this assessment and in favour of state-led innovation and economic growth. She maintains that the public sector usually bears the highest risks of funding innovation without then reaping the rewards.”
Check th is very interesting Interview with Marianna Mazzucato on the LSE Blog:
Places. 
It is good to see such books being published, but somehow it is a great confession of failure, that economists needed that long to realise this.