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'One of the most influential economists in the world' Wired Even before the Covid-19 pandemic in 2020, capitalism was stuck. It had no answers to a host of problems, including disease, inequality, the digital divide and, perhaps most blatantly, the environmental crisis. Taking her inspiration from the 'moonshot' programmes which successfully co-ordinated public and private sectors on a massive scale, Mariana Mazzucato calls for the same level of boldness and experimentation to be applied to the biggest problems of our time. We must, she argues, rethink the capacities and role of government within the economy and society, and above all recover a sense of public purpose. Mission Economy, whose ideas are already being adopted around the world, offers a way out of our impasse to a more optimistic future.
10TH ANNIVERSARY EDITION: UPDATED WITH A NEW PREFACE 'Superb ... At a time when government action of any kind is ideologically suspect, and entrepreneurship is unquestioningly lionized, the book's importance cannot be understated' Guardian According to conventional wisdom, innovation is best left to the dynamic entrepreneurs of the private sector, and government should get out of the way. But what if all this was wrong? What if, from Silicon Valley to medical breakthroughs, the public sector has been the boldest and most valuable risk-taker of all? 'A brilliant book' Martin Wolf, Financial Times 'One of the most incisive economic books in years' Jeff Madrick, New York Review of Books 'Mazzucato is right to argue that the state has played a central role in producing game-changing breakthroughs' Economist 'Read her book. It will challenge your thinking' Forbes
Companies like Google and Apple heralded the information revolution, and opened the doors for Silicon Valley to grow into an engine of dazzling technological development, that today champions the free market that engendered it against the supposedly stifling encroachment of government regulation. But is that really the case? In this sharp and controversial expose, The Entrepreneurial State, Mariana Mazzucato debunks the pervasive myth that the state is a laggard, bureaucratic apparatus at odds with a dynamic private sector. Instead she reveals in case study after case study that, in fact, the opposite is true: the state is our boldest and most valuable innovator. The technology revolution wo...
WINNER OF THE 2019 MADAME DE STAËL PRIZE AND THE 2018 LEONTIEF PRIZE FOR ADVANCING THE FRONTIERS OF ECONOMIC THOUGHT SHORTLISTED FOR THE FT & MCKINSEY BUSINESS BOOK OF THE YEAR 2018 Who really creates wealth in our world? And how do we decide the value of what they do? At the heart of today's financial and economic crisis is a problem hiding in plain sight. In modern capitalism, value-extraction is rewarded more highly than value-creation: the productive process that drives a healthy economy and society. From companies driven solely to maximize shareholder value to astronomically high prices of medicines justified through big pharma's 'value pricing', we misidentify taking with making, and ...
How governments can spur growth and innovation to solve their greatest challenges—from green energy to national security to building resilient health systems. Known around the world for challenging mainstream economics, economist Mariana Mazzucato believes that “the public sector can and should be a co-creator of wealth that actively steers growth to meet its goals” (The Financial Times). In The Mission-Driven Economy, she calls on governments to create the economies we need today. Mazzucato’s challenge leads off a debate on the revival of Industrial policy—roughly defined as deliberate government action to re(shape) the economy. Industrial policy has fallen out of favor in recent ...
"Thought provoking and fresh - this book challenges how we think about economics.” Gillian Tett, Financial Times For further information about recent publicity events and media coverage for Rethinking Capitalism please visit http://marianamazzucato.com/rethinking-capitalism/ Western capitalism is in crisis. For decades investment has been falling, living standards have stagnated or declined, and inequality has risen dramatically. Economic policy has neither reformed the financial system nor restored stable growth. Climate change meanwhile poses increasing risks to future prosperity. In this book some of the world’s leading economists propose new ways of thinking about capitalism. In clea...
The role of the state in modern capitalism has gone beyond fixing market failures. Those regions and countries that have succeeded in achieving “smart” innovation-led growth have benefited from long-term visionary “mission-oriented” policies—from putting a man on the moon to tackling societal challenges such as climate change and the wellbeing of an ageing population. This book collects the experience of different types of mission-oriented public institutions around the world, together with thought-provoking chapters from leading economists. As the global debate on deficits and debt levels continues to roar, the book offers a challenge to the conventional narrative—asking what kinds of visionary fiscal policies we need to help promote "smart” innovation-led, inclusive, and sustainable growth.
Written by internationally acclaimed experts in the economics of innovation, this volume examines how the biotechnology and pharmaceutical sector is affected by the dynamics of innovation, institutions, and public policy. It contributes both theoretically and empirically to the increasingly influential Schumpetarian framework in industrial economics, which places innovation at the centre of the analysis of competition. Both quantitative and qualitative studies are included, and this varied perspective adds to the richness of the volume's insights. The contributors explore different ideas regarding the historical evolution of technology in the sector, and how firms and industry structure have co-evolved with innovation dynamics. Important policy questions are considered regarding the future of innovation in this sector and its impact on the economy.
`This excellent volume brings together some of the most influential readings in business strategy and explores the content and process of business strategy... a comprehensive introduction to the literature and will become required reading for students of economics, organizational behaviour and business' - Costas Markides, London Business School This dynamic selection includes classics in the field of strategy which continue to provide the theoretical background of more recent innovative work. This is a course reader for The Open University undergraduate course Business Behaviour in a Changing World (B300).
This innovative new teaching text provides an introduction to personal investment in a world defined by uncertainty. With a focus on risk, socio-economic change and the regulatory framework, and a wealth of international case studies, the book covers all the key issues that affect personal investment decisions and their ultimate success or failure.