This open access book raises some central questions: Do we need moonshot policies to spur
innovation and economic growth? What are the risks associated with such policies? Economic
turbulence the COVID-19 pandemic and mounting environmental concerns have paved the way for a
renaissance of targeted industrial policy. In particular the idea that society should be
organized around large missions is gaining momentum among high-income economies. However the
authors and editors of this volume contend that this shift has occurred without much critical
examination especially as the European Union has adopted these ideas and Western economies
are now increasingly organizing toward the achievement of large state-formulated goals.
Recognizing the urgent need for continued scholarly attention to question notions of the
mission economy more than 20 scholars discuss the dangers of top-down vertical approaches to
industrial policy and draw attention to the progress of independent enterprise
entrepreneurialism and market solutions in a sound economy and society. By critically
examining mission-oriented innovation policies using theoretical perspectives and empirical
investigations the book highlights both the mechanisms behind failed missions and alternative
approaches. This is a must-read for policy researchers and policymakers alike.
