mariana mazzucato mission economy a moonshot guide to changing capitalism

Life expectancy has grown, educational levels have increased and living standards have improved in recent generations. The subtle inference of continual public sector underperformance, or even incompetence, does not do justice to the existing focus on the common good. This contention devalues the millions of policy processes, particularly across democracies, achieving or seeking to achieve this. And this means getting the public and private sectors to truly collaborate on investing in solutions, having a long-run view, and governing the process to make sure that it is done in the public interest.” Crude argument The author argues: “We must solve them – not merely accommodate them – by focusing policy making on outcomes.

This agenda is supported by multiple examples from advanced technology and pharmaceuticals. The creation of value needs to be better protected by more active governments. In The Entrepreneurial State (2013) and The Value of Everything (2018), she argues that states are extremely valuable sources of innovation. Mariana Mazzucato is the leading economist in analysing the frontiers of engagement between modern states and the private sector. Their pursuit involves the State developing new ways of engaging with economies and societies and managing very high levels of risk and return. As societies confront many challenges, from climate change to Covid, the demands for exceptional achievements are great. Moonshot projects are endeavours of unique ambition that transcend limitations by extraordinary imagination and effort. The controversy overshadowed the development of the renewable energy sector in what the memoir describes as a “clean energy moonshot”. at how Solyndra’s failure stood to overshadow the Recovery Act’s remarkable success in galvanising the renewable energy sector”. Obama writes that he “couldn’t help but fume. Recriminations were loud and politically damaging. Allegations of severe mismanagement were made. Their product became uncompetitive, the company failed and the loan was lost. Solyndra, a solar panel company, received a $535 million loan. The Obama administration supported the solar and wind sector during the financial crisis. One of the more rueful passages in Barack Obama’s volume of presidential memoirs is a controversy that attracted little attention outside of the US.

Mariana mazzucato mission economy a moonshot guide to changing capitalism