Economics - Innovation - Inclusive Growth

blogs by mazzucato

The Brexit-Trump Syndrome: it’s the economics, stupid

The Brexit-Trump Syndrome: it’s the economics, stupid

“The Brexit and Trump electoral results make this increasingly look like the beginning of a new political era. If policymakers are to respond in better ways to the new popular mood, they need to engage in a fundamental rethinking of capitalism, guided by better economic theory and a more dynamic relationship between theory and policy.”… more

Why Economic Recovery Requires Rethinking Capitalism

Why Economic Recovery Requires Rethinking Capitalism

“Mission-oriented public investment is vital to spur a revival of private-sector investment… What economies need, today, is not only a new approach to investment, but also a New Deal in terms of reinvestment: a new compact between the public and private sectors that can lead to more inclusive growth.” more

The Future of the BBC: the BBC as market shaper and creator

The Future of the BBC: the BBC as market shaper and creator

“The BBC is a perfect example of an organization that by remaining ahead of the game, investing in its own competencies and capabilities, has been able to steer, shape and create new market landscapes and indeed opportunities for both public and private actors” more

Radical rethinking

Radical rethinking

“Without an adequate theory of what leads to economic growth and who the so-called ‘wealth creators’ are in the first place, policy-makers are ill equipped to tackle problems of stagnation and inequality”. more

Why Greece should follow Germany’s walk, not its talk

Why Greece should follow Germany’s walk, not its talk

“We often hear that the problem in Europe is that there is a monetary union with no fiscal union and that this cannot work, has not worked and is the origin of the current fiscal crisis in the Eurozone.” The following column is an edited version of one that first appeared in the Italian La Repubblica and… more

Time is running out for the eurozone

Time is running out for the eurozone

This blog by Stephany Griffiths-Jones, Financial Markets Director, IPD, Columbia University was prepared for the Investment for Growth & Employment Conference organised by Joseph Stiglitz in collaboration with the Brookings Institute in Washington. It is supported by the following economists: Peter Bofinger, Paolo Gurrieri, João Ferraz, Alfred Gussenbauer, Homi Kharas, Mariana Mazzucato, Marcus Miller, Jose… more

Start-up myths and obsessions

Start-up myths and obsessions

As guest writer for the Economist’s Schumpeter blog, Mazzucato tackles the hype around entrepreneurship and startups. more

How Osborne’s budget can increase confidence

How Osborne’s budget can increase confidence

The state must have more faith in its own powers. This week’s Budget will reflect whether George Osborne’s team has learned some economics over the last few months. If not, here is a last minute crash course, focusing on the need to increase “confidence” (the government’s buzz word). But whose confidence? 1. Market confidence Low… more

Will UK medicine give us a Greek cold?

Will UK medicine give us a Greek cold?

What is often referred to as the ‘financial crisis’ is in many ways a ‘real economy’ crisis. It is no coincidence that two of the biggest problems, Greece and Italy, have the lowest productivity figures in Europe, and little spending on key areas that cause growth like R&D.   In the last weeks we have… more

Steve Jobs and industrial policy

Steve Jobs and industrial policy

Steve Jobs was an important entrepreneur. An inspirational one. But lets not forget how his success was built upon something that those who extol entrepreneurs often forget. The great fruits to be borne out of active State led industrial policy. Take Apple’s iPhone. Every bit of it, except the ingenious way it all comes together… more

Labour and ‘bad’ companies: an uncomfortable truth

Labour and ‘bad’ companies: an uncomfortable truth

We heard on Tuesday that Labour wants to target ‘bad’companies and reward ‘good’ companies. What it should do it target ‘bad’ indicators of performance—which companies react to and cause them to become ‘bad’. Increasingly so. For years now—leading to the crisis— it has been short-term financial indicators of performance, rather than long-term industrial ones, that… more