Rewriting the Rules of Capitalism and Public Investment — with Mariana Mazzucato

Mariana Mazzucato's "The Value of Everything" challenges conventional economic thinking by questioning how we measure value and who benefits from it. She argues that the current system undervalues public goods and services, leading to underinvestment in crucial areas. Mazzucato advocates for a more inclusive approach to value creation, recognizing the contributions of both the public and private sectors. The book explores the role of innovation and the importance of considering the social and environmental impacts of economic activity. It calls for a fundamental shift in how we understand and measure value, moving beyond a narrow focus on market prices.

Carl Mengers "Grundsätze der Volkswirtschaftslehre" markieren den Beginn der Österreichischen Schule der Nationalökonomie. Menger entwickelte eine subjektive Wertlehre, die den Wert von Gütern von der individuellen Nachfrage ableitet, im Gegensatz zu den klassischen Theorien, die den Wert auf die Produktionskosten stützten. Das Buch legte die Grundlage für die Weiterentwicklung der Österreichischen Schule durch Ökonomen wie Böhm-Bawerk und Mises. Mengers Werk ist ein Meilenstein in der Geschichte der Wirtschaftswissenschaften und beeinflusst bis heute die wirtschaftspolitische Debatte. Seine Analyse der Entstehung von Märkten und Preisen ist von bleibender Bedeutung.

Half of a Yellow Sun is a novel by Chimamanda Ngozi Adichie that delves into the lives of three main characters—Ugwu, a young Igbo houseboy; Olanna, the beautiful and privileged mistress of a university professor; and Richard, a British writer in love with Olanna's twin sister, Kainene—against the backdrop of the Nigerian-Biafran War in the late 1960s. The story navigates themes of tribal enmities, colonial and post-colonial issues, the brutality of war, and the personal struggles of the characters as they face the devastating consequences of the conflict. The novel vividly portrays the historical events and the emotional toll on the characters, exploring moral responsibility, ethnic allegiances, class, and the complexities of love and loyalty.

Americanah is a story about Ifemelu, a young Nigerian woman who leaves her home and her first love, Obinze, to start a new life in America. The novel explores her struggles with cultural adaptation, racial identity, and the complexities of being a black African in the United States. Meanwhile, Obinze faces his own challenges as an undocumented immigrant in London. The book delves into themes of love, identity, and the African diasporic experience, ultimately leading to a reunion in a newly democratic Nigeria where Ifemelu and Obinze rekindle their passion for each other and their homeland.

The Entrepreneurial State challenges the conventional wisdom that innovation is best left to the private sector. Mariana Mazzucato argues that the public sector has been the primary risk-taker in many significant technological innovations, from the Internet and GPS to touch-screen displays and voice recognition. She provides case studies to show how government investments have driven economic growth and suggests policies to ensure that both the public and private sectors share the risks and rewards of innovation. The book emphasizes the state's role in shaping and creating markets, rather than just fixing market failures.

In 'Mission Economy', Mariana Mazzucato argues that to solve the massive crises facing us, such as global warming, pollution, and health pandemics, we need to fundamentally restructure capitalism to make it inclusive, sustainable, and driven by innovation. Drawing inspiration from the moon landing, she advocates for collaborative, mission-oriented thinking and public-private partnerships that share risks and rewards. The book emphasizes the need to change government tools and culture, create new markers of corporate governance, and ensure that corporations, society, and the government work together towards common goals.