Contributor(s): John Micklethwait, Adrian Wooldridge | Is Britain falling behind in the global race to reinvent the state? Britain has led previous attempts to reinvent the state, from the Hobbesian security revolution of the 17th century, to the liberal, meritocratic revolution of the 19th century, to the welfare revolution of the early 20th century. We are now embarked on a new revolution, driven by IT, unsustainable debts and the rise of emerging markets. But Britain is much less well placed to lead this revolution. John Micklethwait is the Editor-in-Chief of The Economist. Adrian Wooldridge is The Economist's Management Editor and writes the Schumpeter column. They are co-authors of The Fourth Revolution: the global race to reinvent the state. They have previously co-authored five books together: The Witch Doctors, A Future Perfect, The Company, The Right Nation and God is Back. Tony Travers is Director of LSE London, a research centre at LSE. He is also a Visiting Professor in the LSE’s Government Department. British Government @ LSE is an initiative led by the LSE’s Government Department (@LSEGovernment) to promote research, teaching and debate about politics and government in the UK. Credits: Tom Sturdy (Audio Post-Production), LSE AV Services (Audio Recording).