In this insightful discussion, Mariana Mazzucato, a professor at University College London and a leading expert on mission-oriented policy, argues for a revitalized role of the state in innovation. She reflects on JFK's moon landing as a model for tackling large challenges today, like climate change and pandemics. Mazzucato critiques the myth of the solitary entrepreneur, advocating for government-led, collaborative initiatives to drive technological advancements. The conversation emphasizes the need for ambition and coordination in public policies to stimulate innovation.
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Kennedy's Moonshot
In 1962, President Kennedy committed the US to landing on the moon within the decade.
This ambitious goal spurred innovation and led to technologies like camera phones and baby formula.
insights INSIGHT
The Entrepreneurial State
Mariana Mazzucato's book The Entrepreneurial State challenges the myth of the private sector as the sole driver of innovation.
She argues that the state plays a crucial, often overlooked, role.
question_answer ANECDOTE
Apple's Public Roots
While Steve Jobs led Apple, its success relied on publicly funded technologies like the internet, GPS, and touchscreen.
Mazzucato emphasizes the importance of entrepreneurial systems, not just individual entrepreneurs.
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How the Consulting Industry Weakens Our Businesses, Infantilizes Our Governments and Warps Our Economies
Rosie Collington
Mariana Mazzucato
In 'The Big Con', Mariana Mazzucato and Rosie Collington expose the detrimental effects of the consulting industry on modern economies. They delve into case studies such as the HealthCare.gov rollout debacle and the inadequate government responses to the COVID-19 pandemic. The book argues that the consulting industry's influence stunts innovation, obscures corporate and political accountability, and hinders efforts to address climate change. With extensive research, Mazzucato and Collington advocate for a system where public and private sectors collaborate innovatively for the common good, and they propose recalibrating the role of consultants to rebuild more effective economies and governments.
Mission Economy
Mariana Mazzucato
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.
The entrepreneurial state
Debunking Public vs. Private Sector Myths
Mariana Mazzucato
, Sanjulián, Javier / Solé del Barrio
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.
The entrepreneurial state
Debunking Public vs. Private Sector Myths
Mariana Mazzucato
, Sanjulián, Javier / Solé del Barrio
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 1962, then US president John F Kennedy committed his nation to reaching the Moon before the decade was up. It was a huge undertaking, but one that ultimately succeeded, and also produced technologies such as camera phones and baby formula along the way. But have governments today lost the confidence and knowhow needed to undertake such ambitious challenges? That’s the contention of today’s guest, Mariana Mazzucato, professor in the economics of innovation and public value at University College London. She believes states need to rediscover mission-purpose and take the lead in solving problems such as climate change, pandemics or water scarcity.
Martin Wolf is chief economics commentator at the Financial Times. You can find his column here
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