Commentary on the role of the state as a game changer in the modern economic system.World-renowned economist and Professor in the Economics of Innovation and Public Value at University College London
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The Entrepreneurial State
Who are the innovators in our society? Many would say the private sector is the main source of innovation. This a particularly common narrative in Big Tech and finance spheres which understands corporations as the main drivers of growth. Mariana Mazzucato challenges this idea by asking: How do we define value? Who truly creates value? And, who extracts it?
Indeed, the public sector plays an integral role in innovative growth. Recognising this, Mariana Mazzucato delves into the ways in which rewards of collaborative value creation have been unfairly privatised and the risks socialised. She argues for a new social contract between the public and private sector that is oriented toward solving the greatest challenges of our time, such as tackling climate change, reducing inequality and closing the digital divide.
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- John von Neumann Award (2020) - All European Academies Madame de Staël Prize for Cultural Values (2019) - Leontief Prize (2018) - Member of the South African President's Economic Advisory Council (2019- ) - Member of the United Nations' High-Level Advisory Board on Economic and Social Affairs (2019- ) - Member of the Scottish Government's Council of Economic Advisers (2015- ) - Served on the British Labour Party's Economic Advisory Committee (2015-2016)
Mariana Mazzucato is Professor in the Economics of Innovation and Public Value at University College London, where she is Founding Director of the UCL Institute for Innovation & Public Purpose. She is winner of international prizes including, the 2020 John von Neumann Award, the 2019 All European Academies Madame de Staël Prize for Cultural Values, and 2018 Leontief Prize for Advancing the Frontiers of Economic Thought. She was named as one of the '3 most important thinkers about innovation' by The New Republic, one of the 50 most creative people in business in 2020 by Fast Company, and one of the 25 leaders shaping the future of capitalism by WIRED.
She is the author of four highly-acclaimed books: The Entrepreneurial State: Debunking Public vs. Private Sector Myths (2013), The Value of Everything: Making and Taking in the Global Economy (2018), Mission Economy: A Moonshot Guide to Changing Capitalism (2021), and most recently The Big Con: How the Consulting Industry Weakens our Businesses, Infantilizes our Governments and Warps our Economies (2023). She advises policymakers around the world on innovation-led inclusive and sustainable growth. Her current roles include being Chair of the World Health Organization's Council on the Economics of Health for All, Co-Chair of the Global Commission on the Economics of Water, and the United Nations High-level Advisory Board (HLAB) on Economic and Social Affairs, among others.
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