I’ve agreed to join a new Economic Advisory Committee being set up by the UK Labour party, announced this week by new Shadow Chancellor John McDonnell. I’ll be working alongside some other great economists including Nobel laureate Joseph Stiglitz, Thomas Piketty, David Blanchflower and Simon Wren-Lewis (whose take on joining the committee you can read here).
I already serve (alongside Stiglitz) on the Scottish Government’s Council of Economic Advisers, and have happily advised politicians of all persuasions in the past, including in the UK representatives from all the main parties under the previous coalition administration. As academics we all remain independent and free to say what we think and retain the right to be critical and objective. I’m sure we will bring different ideas to the table, but I hope we will have a shared goal to help Labour shape an economic policy that is investment-led, inclusive, and sustainable.
In his speech to the Labour Party Conference, John McDonnell said: “We will create what Mariana Mazzucato describes as the entrepreneurial state. A strategic state works in partnership with businesses, entrepreneurs and workers to stimulate growth.” I’ve written a blog today for Project Syndicate giving my own take on what a progressive economic agenda could look like. You can read it here.
A new wealth-creating agenda for the Labour party – Professor Mazzucato’s article for the Guardian, 15 June 2015
The new US edition of The Entrepreneurial State: debunking public vs. private sector myths, with a new introduction, will be published on 27th October by Public Affairs.
Tags: Entrepreneurial State, Financialization, Mission-Oriented, Risks and Rewards, State Investment Banks, UK, Wealth Creation
University of Sussex film on the impact of Professor Mazzucato’s work, including an interview with former Science Minister, David Willetts.