THE GREEN ENTREPRENEURIAL STATE

Abstract

This chapter focuses on the role of the entrepreneurial risk-taking state in launching specific green technologies. It provides a fuller understanding of the public sector’s centrality to risk-taking activities and radical technological change, essential to promote green transformations. In the last few decades, wind turbines and solar photovoltaic (PV) panels are two of the most rapidly deployed renewable energy technologies on the planet, spawning growing industries that are emerging in many regions of the world. The green energy industry is still in its early stages: even though development of wind and solar power technologies received a big push in the 1970s, they are still characterized by market and technological uncertainty. In current policy environment, many countries are aggressively deploying public finance with the aim of promoting green industry, and this is the direct support for business development. The capitalist economy will be embedded in social, cultural and political institutions and therefore subordinate to the state and subject to its changes.