It would be a mistake to overstate the similarities between the Brexit vote and Trump's win - but there are common themes, not least in the rallying cries that the winning campaigns used. They focused on a supposed economic threat posed by outsiders, as immigrants or as trade partners. This fuelling of anxieties underpinned a narrative centered on the need to "regain control," whether of borders or of economic forces.

The actual division of labor must be reflected in the division of the rewards (and prices, which is the way the consumer gets rewarded).

Unfortunately, simplistic framing of problems leads to simplistic answers.

In my view, the state should be active and work in cooperation with private businesses to spur growth that's sustainable and inclusive. The policy process is about co-creating and co-shaping of markets, creating new opportunities for business investment - and negotiating a better deal for the public too.

What is needed is both a New Deal in terms of mission-oriented investments but also a new deal in terms of a modern social compact - one that allows the state to socialize not only risks but also rewards. Maybe then innovation-led growth will also become growth that includes all of us.

Most venture capital funds are too short-termist and exit-driven to deal with the highly uncertain and lengthy innovation process.

Germany is using its Energiewende policy as a way of envisioning a green transformation and innovation across many sectors.