Mariana Mazzucato

Inquire About This Speaker

Global Expert on Economic and Innovation Policy; Esteemed Public Sector Consultant Focused on Developing Government-led, Mission-oriented Investments; Chair, WHO Council on the Economics of Health for All; Professor, University College London; Author, “Mission Economy” (January 2021)

Biography

Trimming the public sector, reducing corporate taxes and removing the role of government from the economy – the policy recipe for creating a dynamic, innovative economy, right? “Absolutely not!” says Mariana Mazzucato, the world’s foremost expert on policy innovation and public/private sector partnerships focused on 21st century missions. The rapid withdrawal of government from the business of innovation poses long-term risks, and it is the rising entrepreneurs and innovators who have the most to lose from a dearth of state-led investment. Mazzucato, an esteemed academic, experienced practitioner and gifted orator, has a groundbreaking and incisive lesson that is both urgent and sobering: to rescue our economy from the next, inevitable crisis and foster long-term economic growth, we need to rethink capitalism, redesign the role of public policy and redefine how we measure value in our society.

Chair of Economics of Innovation and Public Value and founding director of the Institute for Innovation and Public Purpose at University College London, Mazzucato focuses her research on the roles played by the private and public sectors in the risky business of financing technological research and development. She argues that whether cleaning up the environment, discovering new miracle cures or reaching defined goals in space exploration, the state must step outside the box of ‘market fixing’ and into actively shaping and co-creating new markets through economy-wide missions. These missions, which enable bottom-up innovation, focus on solving major societal problems by identifying actionable steps for change and bringing together experts from a variety of sectors with a wide range of skills. She explains her ideas in her highly anticipated new book, “Mission Economy: A Moonshot Guide to Changing Capitalism” (Penguin, Europe: January 2021; USA: March 2021).

Having studied how Silicon Valley emerged as a global cluster of innovation and entrepreneurialism, Mazzucato concludes the U.S. government’s financial backing of cutting-edge research could never have been secured from the private sector alone. Organizations such as Tesla and Apple owe their success to public money and government-led missions to raise America’s competitive edge. But in a more than three-decade bout of “free market” dogma, we have lost sight of the practical approach that created great success in the past, a misunderstanding that Mazzucato’s work is dedicated to correcting. In America and abroad, Mazzucato sees an opportunity to tip the scales in a new direction, both in terms of innovation serving the needs of a green revolution, as well as a new form of sharing of both risks and rewards between private companies and public agencies.

A dynamic writer, Mazzucato’s best-selling book, “The Entrepreneurial State: Debunking Public vs. Private Sector Myths” (Anthem 2013, Public Affairs 2015, Penguin 2018), on the Financial Times books of the year list and translated to more than 10 languages, is an urgent call to abandon false assumptions about how to foster innovation. In her latest book, “The Value of Everything: Making and Taking in the Global Economy” (Penguin, April 2018), Mazzucato explains the economic problems even further, highlighting companies’ (albeit, misplaced) belief that by delivering greater prosperity for their shareholders they are somehow creating value, when in fact they are extracting and sometimes destroying it. From the way in which the financial sector has presented its “risk-taking” services as valuable to the economy, to how big pharma uses “value based pricing” to justify extraordinary increases in prices, the book documents in a surgical way the confused notions of value, and the dysfunctions this causes in the modern economy. “The Value of Everything” was a 2018 Strategy & Business Book of the Year and was shortlisted for the 2018 Financial Times and McKinsey Business Book of the Year prize.

For more than two decades Mazzucato has helped public sector institutions, from Sitra in Finland to ArpaE in the U.S. and InnovateUK, implement her theories about state entrepreneurship and mission-oriented innovation. In her advisory role with the Scottish regional government, Mazzucato is a key consultant in the ongoing establishment of a national investment bank for Scotland, a body that will help finance long-term innovation and mission-focused market creation. During the COVID-19 crisis, she was named Chair of the World Health Organization’s (WHO) Council on the Economics of Health for All. Her mantra is that such funding should not be based on picking winners, but on picking the willing: those companies willing to invest, innovate and transform.

Mazzucato’s research projects include the relationship between finance, innovation and growth funded by the European Commission, public-private partnerships in low-earth orbit (funded by NASA and the European Space Agency) and Rethinking Medical Innovation funded by the Open Society Foundations. She is currently the Special Advisor for Carlos Moedas, the European Commissioner (EC) for Research, Science and Innovation, helping him steer €100 billion for innovation toward missions that require cross-sectoral problem solving. What has been widely called the “Mazzucato Report” on mission-oriented innovation in Europe, is currently undergoing consultation across the region. Her current roles also include being a member of the Scottish Government’s Council of Economic Advisors; the South African President’s Economic Advisory Council; the OECD Secretary General’s Advisory Group on a New Growth Narrative; the UN’s Committee for Development Policy (CDP), Vinnova’s Advisory Panel in Sweden, and Norway’s Research Council.

Arguably the world’s most tenacious economist – or according to The Times profile which praised her as the “scariest economist,” Mazzucato won the 2014 New Statesman SPERI Prize in Political Economy, the 2015 Hans-Matthöfer-Preis, the Leontief Prize for Advancing the Frontiers of Economic Thought (2018), and the 2019 All European Academies Madame de Staël Prize for Cultural Values. The New Republic named her one of the “3 most important thinkers about innovation,” Wired named her one of the 25 leaders shaping the future of capitalism, and she is on The Bloomberg 50 list of ‘Ones to Watch’ for 2019. She is also the 2020 recipient of the John Von Neumann Award.

Mazzucato earned her doctorate and master’s degrees in economics from The Graduate Faculty of the New School for Social Research, and a bachelor’s degree in arts, history and international relations from Tufts University. She spent two years conducting post-doctoral research at London Business School through a Marie Curie Fellowship. She has held academic positions at the University of Denver, the Bocconi Business School, London Business School, Sussex University and now UCL.

Mariana Mazzucato is available to advise your organization via virtual and in-person consulting meetings, interactive workshops and customized keynotes through the exclusive representation of Stern Speakers, a division of Stern Strategy Group®.

Videos

Media

MIT Technology Review logo

Fair Value? Fixing the Data Economy

December 3, 2020

New IIPP Report for the Italian Government - Mission Italia: Investment, Innovation and Imagination

November 20, 2020

Stern speakers logo

Bold Ideas for a Stronger Post-Covid Economy

November 20, 2020

An 'Electrifying' Economist's Guide to the Recovery

November 19, 2020

WHO Establishes Council on the Economics of Health for All

November 13, 2020

Build Long-Term Growth While Addressing Climate Change

November 2, 2020

Mariana Mazzucato's Project Syndicate Column

Designing Vaccines for People, Not Profits

December 1, 2020

CNN logo

"Nothing Inevitable" About Suffering (Video)

October 15, 2020

Capitalism After the Pandemic: Getting the Recovery Right

October 2, 2020

Johnson Has Taken the Wrong Economic Lesson from the Covid Crisis

October 8, 2020

How to End the Pandemic This Year

October 1, 2020

Avoiding a Climate Lockdown

September 30, 2020

Economics Agitator

Fall 2020

Covid Recovery Funds Not Structured Properly, Mazzucato Says (Video)

September 24, 2020

Toward a New Fiscal Constitution

July 10, 2020

Why the Covid-19 Recovery Needs a Proactive Public Sector

July 6, 2020

We Socialize Bailouts. We Should Socialize Successes, Too.

July 2, 2020

The Coronvirus Recovery is an Opportunity to Do Everything Differently, Not Go Back to Normal

June 23, 2020

Governments Need to "Radically Transform" the Way They Think About Spending

June 9, 2020

5 Economists Redefining... Everything. Oh Yes, and They're Women

May 31, 2020

The Recovery Needs to be a Full-Scale Economic Renewal

May 29, 2020

The Big Failure of Small Government

May 19, 2020

"The World’s Scariest Economist” on Coronavirus (Audio)

May 17, 2020

How Can We Make Sure a COVID-19 Vaccine Doesn't Go to the Highest Bidder?

May 12, 2020

How to Make Sure the Drug Companies Don't Make Off Like Bandits as we Develop a COVID-19 Vaccine

April 29, 2020

Martin Wolf, Mariana Mazzucato: The Shape of World Economy After Covid-19

April 3, 2020

Coronavirus and Capitalism: How Will the Virus Change the Way the World Works?

April 2, 2020

Capitalism's Triple Crisis

March 30, 2020

Drug Companies Will Make a Killing From Coronavirus

March 18, 2020

The Covid-19 Crisis is a Chance to do Capitalism Differently

March 18, 2020

The Value of Everything (Video)

March 5, 2020

Economist Mariana Mazzucato on Coronavirus: Government 'are Really Treating it as a... War Time Scenario' (Video)

March 11, 2020

The Economist logo

How Entrepreneurial States Can Achieve Sustainability Objectives Through a Mission-Driven Approach to Spending

January 21, 2020

A Year to Keep Promises

January 15, 2020

Europe's Green Deal Could Be the Most Important in a Generation

December 11, 2019

Meet the Leftish Economist With a New Story About Capitalism

November 26, 2019

Labour’s Manifesto: Economic Experts' Verdict on its Radical Vision

November 24, 2019

Mariana Mazzucato Has Reinvigorated The Most Important Battle In Economics

November 21, 2019

Wired logo

Stories of People Who Are Racing to Save Us

October 15, 2019

Wired logo

This Economist Has a Plan to Fix Capitalism. It's Time We All Listened

October 8, 2019

Preventing Digital Feudalism

October 4, 2019

Directing Innovation Towards Sustainable Growth (Audio)

July 22, 2019

One of the World's Most Influential Economists Is On a Mission To Save Capitalism From Itself

July 22, 2019

Missions Will Require a 'Revolution' in European Governments - Prof. Mariana Mazzucato

July 4. 2019

The Value of Everything

June, 2019

CNN logo

Economist: 'Green New Deal Could Fuel Growth' (Video)

April 26, 2019

The Innovation Economy (Audio)

April 24, 2019

The Economic Argument Behind the Green New Deal

April 24, 2019

strategy+business logo

Mission Critical

April 24, 2019

Wired logo

To Change the World, Governments Need to Launch New Moonshots

April 17, 2019

The Value of Everything: Making and Taking in the Global Economy

April 10, 2019

Banker Profits and Economic Value ‘Disjointed’, Says UCL’s Mazzucato

April 1, 2019

New IIPP Report Sets Out a Mission-Oriented Vision for the Scottish National Investment Bank

March 22, 2019

The Atlantic logo

A Centuries-Old Idea Could Revolutionize Climate Policy

February 19, 2019

Let's Get Real About Purpose

February 1, 2019

Washington Post logo

Big Pharma is Hurting Drug Innovation

October 17, 2018

What Business Leaders Need to Know About Value and Economics

September 27, 2018

Surveillance: Rogoff & Mazzucato on the Next Crisis (Audio)

September 12, 2018

Is the Government More Entrepreneurial Than You Think?

September 5, 2018

The Downside of Shareholder Value ($)

August 29, 2018

Mission Thinking: A Problem-Solving Approach To Fuel Innovation-Led Growth

June 19, 2018

Can We Save Innovative Capitalism by Redefining Value?

May 29, 2018

Capitalism's Greatest Weakness? It Confuses Price with Value

May 24, 2018

The Economist logo

Money Talks: How Economists Should Measure Value (Audio)

May 1, 2018

Why Companies Need Greater Appreciation for the Role of Government in Innovation

May 1, 2018

Who Creates a Nation's Economic Value? ($)

April 24, 2018

Scientists Seek Continuing Free Movement After Brexit ($)

February 22, 2018

An Entrepreneurial Society Needs an Entrepreneurial State ($)

October 25, 2016

A-Z Name

Mazzucato, Mariana

Biography

Trimming the public sector, reducing corporate taxes and removing the role of government from the economy – the policy recipe for creating a dynamic, innovative economy, right? “Absolutely not!” says Mariana Mazzucato, the world’s foremost expert on policy innovation and public/private sector partnerships focused on 21st century missions. The rapid withdrawal of government from the business of innovation poses long-term risks, and it is the rising entrepreneurs and innovators who have the most to lose from a dearth of state-led investment. Mazzucato, an esteemed academic, experienced practitioner and gifted orator, has a groundbreaking and incisive lesson that is both urgent and sobering: to rescue our economy from the next, inevitable crisis and foster long-term economic growth, we need to rethink capitalism, redesign the role of public policy and redefine how we measure value in our society.

Chair of Economics of Innovation and Public Value and founding director of the Institute for Innovation and Public Purpose at University College London, Mazzucato focuses her research on the roles played by the private and public sectors in the risky business of financing technological research and development. She argues that whether cleaning up the environment, discovering new miracle cures or reaching defined goals in space exploration, the state must step outside the box of ‘market fixing’ and into actively shaping and co-creating new markets through economy-wide missions. These missions, which enable bottom-up innovation, focus on solving major societal problems by identifying actionable steps for change and bringing together experts from a variety of sectors with a wide range of skills. She explains her ideas in her highly anticipated new book, “Mission Economy: A Moonshot Guide to Changing Capitalism” (Penguin, Europe: January 2021; USA: March 2021).

Having studied how Silicon Valley emerged as a global cluster of innovation and entrepreneurialism, Mazzucato concludes the U.S. government’s financial backing of cutting-edge research could never have been secured from the private sector alone. Organizations such as Tesla and Apple owe their success to public money and government-led missions to raise America’s competitive edge. But in a more than three-decade bout of “free market” dogma, we have lost sight of the practical approach that created great success in the past, a misunderstanding that Mazzucato’s work is dedicated to correcting. In America and abroad, Mazzucato sees an opportunity to tip the scales in a new direction, both in terms of innovation serving the needs of a green revolution, as well as a new form of sharing of both risks and rewards between private companies and public agencies.

A dynamic writer, Mazzucato’s best-selling book, “The Entrepreneurial State: Debunking Public vs. Private Sector Myths” (Anthem 2013, Public Affairs 2015, Penguin 2018), on the Financial Times books of the year list and translated to more than 10 languages, is an urgent call to abandon false assumptions about how to foster innovation. In her latest book, “The Value of Everything: Making and Taking in the Global Economy” (Penguin, April 2018), Mazzucato explains the economic problems even further, highlighting companies’ (albeit, misplaced) belief that by delivering greater prosperity for their shareholders they are somehow creating value, when in fact they are extracting and sometimes destroying it. From the way in which the financial sector has presented its “risk-taking” services as valuable to the economy, to how big pharma uses “value based pricing” to justify extraordinary increases in prices, the book documents in a surgical way the confused notions of value, and the dysfunctions this causes in the modern economy. “The Value of Everything” was a 2018 Strategy & Business Book of the Year and was shortlisted for the 2018 Financial Times and McKinsey Business Book of the Year prize.

For more than two decades Mazzucato has helped public sector institutions, from Sitra in Finland to ArpaE in the U.S. and InnovateUK, implement her theories about state entrepreneurship and mission-oriented innovation. In her advisory role with the Scottish regional government, Mazzucato is a key consultant in the ongoing establishment of a national investment bank for Scotland, a body that will help finance long-term innovation and mission-focused market creation. During the COVID-19 crisis, she was named Chair of the World Health Organization’s (WHO) Council on the Economics of Health for All. Her mantra is that such funding should not be based on picking winners, but on picking the willing: those companies willing to invest, innovate and transform.

Mazzucato’s research projects include the relationship between finance, innovation and growth funded by the European Commission, public-private partnerships in low-earth orbit (funded by NASA and the European Space Agency) and Rethinking Medical Innovation funded by the Open Society Foundations. She is currently the Special Advisor for Carlos Moedas, the European Commissioner (EC) for Research, Science and Innovation, helping him steer €100 billion for innovation toward missions that require cross-sectoral problem solving. What has been widely called the “Mazzucato Report” on mission-oriented innovation in Europe, is currently undergoing consultation across the region. Her current roles also include being a member of the Scottish Government’s Council of Economic Advisors; the South African President’s Economic Advisory Council; the OECD Secretary General’s Advisory Group on a New Growth Narrative; the UN’s Committee for Development Policy (CDP), Vinnova’s Advisory Panel in Sweden, and Norway’s Research Council.

Arguably the world’s most tenacious economist – or according to The Times profile which praised her as the “scariest economist,” Mazzucato won the 2014 New Statesman SPERI Prize in Political Economy, the 2015 Hans-Matthöfer-Preis, the Leontief Prize for Advancing the Frontiers of Economic Thought (2018), and the 2019 All European Academies Madame de Staël Prize for Cultural Values. The New Republic named her one of the “3 most important thinkers about innovation,” Wired named her one of the 25 leaders shaping the future of capitalism, and she is on The Bloomberg 50 list of ‘Ones to Watch’ for 2019. She is also the 2020 recipient of the John Von Neumann Award.

Mazzucato earned her doctorate and master’s degrees in economics from The Graduate Faculty of the New School for Social Research, and a bachelor’s degree in arts, history and international relations from Tufts University. She spent two years conducting post-doctoral research at London Business School through a Marie Curie Fellowship. She has held academic positions at the University of Denver, the Bocconi Business School, London Business School, Sussex University and now UCL.

Mariana Mazzucato is available to advise your organization via virtual and in-person consulting meetings, interactive workshops and customized keynotes through the exclusive representation of Stern Speakers, a division of Stern Strategy Group®.

Speech Topics

Mission Economy: A Moonshot Guide to Changing Capitalism

Six years before the feat of the moon landing, President John F. Kennedy made a historic speech in the stadium of Rice University in Texas. On that day, he convinced the US public why space exploration was important, expressing a willingness to take risks and spend public money — lots of it — to achieve a key objective: going to the Moon and back again in a generation. Politicians no longer speak this way, but imagine if the major economic and social problems of our time — from climate change to social inequality to a public health crisis — were approached as Kennedy approached space exploration.

In “Mission Economy: A Moonshot Guide to Changing Capitalism” (Penguin, January 2021), Mariana Mazzucato asks how we can fundamentally change capitalism by adopting a ‘moonshot approach’ to redesigning the governance of both public and private institutions, and especially their inter-relationships. This includes rethinking how budgets are done with an ‘outcomes’ focus and transforming government, less of a worry on the deficits and more focus on transforming government instruments like procurement, grants and prizes to stimulate bottom-up experimentation to achieve a public goal — such as a carbon neutral city or global access to a COVID-19 vaccine. Blending a deep critique of the economic system with a bold argument for change, “Mission Economy” sees Mariana Mazzucato return in triumphant form: inspirational, engaging and unafraid to tackle difficult questions head-on.

The Value of Everything: Distinguishing Value Creation from Value Extraction

Many of the world’s leading companies – particularly in the tech, financial and pharmaceutical industries – are at their highest “valuations” in years. But the numbers regularly trumpeted by CEOs, pundits and politicians do not reflect the real value of companies and of our economy as a whole. Mariana Mazzucato’s extensive economic research shows that while many companies believe they “create” value through rent-seeking and price hikes, they also remain dependent on public money to innovate and grow. Companies are in fact extracting (and sometimes destroying) value, while the source of real value declines due to lower wages, lower tax revenues and hostility to state investment in industry.

In this presentation based on her new book, “The Value of Everything: Making and Taking in the Global Economy” (Public Affairs, 2018), renowned economist and public policy expert Mazzucato analyzes where true value comes from in our economy, and reveals to business leaders why the amount of money generated by companies is not an accurate measurement of their long-term ability to produce, innovate and thrive. The problem, she believes, is that by accepting the conventional wisdom that delivering value for shareholders is the same as delivering value for the whole economy, we have confused value creation with value extraction. Mazzucato argues it is not just the public sector and taxpayers, but the private sector as well, that stands to lose from an economy whose real foundations are being continually eroded.

Her analysis is both empirical as well as theoretical—calling for theories of value to be debated again, as heatedly as they were in the times of Adam Smith and Karl Marx. In his excellent review of the book in the Financial Times, Martin Wolf writes that it, “forces us to ask ourselves what adds value to society and how to create an economic and social order that promotes that. The book itself adds value by forcing us to confront these points.”

The Entrepreneurial State: From Lender of Last Resort to Investor of First Resort

The role of the state in innovation should not be as corrector of market failures and “lender of last resort,” but as investor of first resort, able to identify key sectors and technologies for investment and drive the innovative process. In a political climate where the government is synonymous with lethargic bureaucracy and the private sector is the hotbed of innovation – as well as the unfortunate target of stifling regulation – this notion may seem counterintuitive and radical. But Mariana Mazzucato argues that nearly all great technological change has been the product of government initiatives, from space travel to the iPhone.

In this presentation, based on her best-selling book, “The Entrepreneurial State: Debunking Public vs. Private Sector Myths,” Mazzucato illustrates how contrary to popular belief, the private sector has generally been timid in putting up the money for groundbreaking technology, only doing so after public funds paved the way forward, and provides evidence and a practical framework for rethinking public-private partnerships. If policymakers and entrepreneurs alike do not acknowledge and embrace such a role for the state, the innovative breakthroughs of the past are unlikely to be repeated.

Rethinking Capitalism: How to Engineer Inclusive Growth Through Innovation

The notion that innovation can help deliver economic growth for everyone without increasing inequality is a popular one with business theorists, economists and politicians. But in practice – where public funds are used by private companies to subsidize risk-taking – the rewards are generally reaped by companies, while the risks are borne by taxpayers. Mariana Mazzucato, who sees a vital role for government in risk-taking and innovation, says the key is not to withdraw the state as an actor in the economy, but to develop a new framework which socializes both risks and rewards.

In a modern, globalized economy where tax rates are far lower than they once were, devising a way to give government equity in innovative companies is essential to ensuring funds for the public welfare are not depleted. Based on her research and real-world involvement in such enterprises as the Scottish National Investment Bank, in this presentation, Mazzucato emphasizes the need to give the state, and by extension the taxpayers, a stake in the innovation they help fund, so the public at large (rather than just the private actors) can benefit from economic growth and dynamism.

Financing the Green Economy: Quantity vs. Quality

Bringing about the next generation of green technology is a perfect example of an undertaking that needs both public and private sector support. But simply pumping money into renewable energy and other environmentally friendly technologies can distort incentives, acting as a public subsidy for private industry. What was to be a public good can become yet another instance of rent-seeking at the taxpayers’ expense.

In this presentation, Mariana Mazzucato outlines how government can move from subsidization to a goal-oriented approach to investing in green technology, focusing on how particular countries specialize in certain niches of the green economy. By building legitimate public/private sector partnerships – and emphasizing the quality of investment over the quantity of funds – policymakers and entrepreneurs can ensure taxpayer money is invested wisely in a program of inclusive growth and innovation, all while helping stem the tide of environmental degradation.

The Rate and Direction of Growth: A Mission-oriented Approach to Innovation

It is taken for granted that governments should encourage economic growth and innovation, but pundits, politicians and academics sharply disagree over the proper course of action. Leading economist Mariana Mazzucato, who has researched and analyzed numerous instances of government-led innovation, says to truly invigorate a nation’s economy, a mission-oriented approach focused on solving major problems is required. Missions encourage, through public investment, collaboration across all sectors and industries toward a common goal.

Using the example of America’s efforts in the 1960s to land a man on the moon, Mazzucato says government initiatives should tackle modern day ‘wicked’ missions – from those tackling climate change to those around health challenges – shaping market forces rather than just regulating and correcting them – an approach that resulted in the development of Silicon Valley when the U.S. last had a truly entrepreneurial state.

In this presentation, which draws heavily on Mazzucato’s own report to the European Commission on mission-oriented innovation, the economist outlines how economy-wide goals, from removing all plastic from the ocean to cutting instances of dementia in half, can drive new forms of public/private cooperation, “crowd in” private investment and make the countries and continents which embrace them innovative powerhouses. She argues that while the U.S. is forgetting these lessons, China is rising on the world stage by embracing them.

Media

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Books & Research

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Recommendations

“Thank you so much, Mariana! Your presentation was riveting and our audience was loving it. We got a lot of excited comments about how we can and should bring your ideas to the public sector.”

— Derrick Tang, Manager, Climate Technologies, Bay Area Air Quality Management District

“Your intervention unquestioningly caught the attention of the assembly and helped to make this Journée de l’Economie a success. Your advice and testimonies will be long-lasting memories.”

– F. Mousel, Partner, PricewaterhouseCoopers Luxembourg

“Mariana Mazzucato provides the Commission with a valuable vision at a crucial point in the drafting of the next EU research and innovation programme. Her report provides clear insight in how research and innovation missions can create impact with societal relevance and how to design and implement such missions. I believe this will be another important step in the evolution of how we invest in research and innovation at the European level.”

– Carlos Moedas, Commissioner for Research, Science and Innovation, European Union

“I believe [her vision] can help to think about the future.”

– Pope Francis, Open letter to Judge Roberto Andrés Gallardo

“Mariana Mazzucato wants liberals to talk less about the redistribution of wealth and more about its creation. Politicians around the world are listening.”

– The New York Times

“The world’s scariest economist … Mariana Mazzucato is a name to strike fear in the heart of anyone slightly shaky in their masculinity or grasp of the figures.”

– The Times

“She is as forthright in her opinions as she is eloquent in expressing them.”

– Financial Times

“Mariana Mazzucato is foremost among the flame throwers. A professor at University College London and the Founder/Director of the UCL Institute for Innovation and Public Purpose, she asks fundamental questions about how ‘value’ has been defined, who decides what that means, and who gets to measure it.”

– Forbes

“One of the world’s most influential economists is on a mission to save capitalism from itself.”

– Quartz

“One of the three most important thinkers about innovation.”

– New Republic

“This economist has a plan to fix capitalism. It’s time we all listened.”

– Wired

“Routing the male, pale and stale world of post-hegemony economics, Mazzucato has become a crucial voice in the field of left-wing academic thought. Her idea that the state should drive innovation has gained teeth with the UK, EU and UN – and she has proven a persuasive critic of austerity.”

– GQ

“When it comes to the machinery needed to win a war of ideas, it doesn’t get much more powerful than Mariana Mazzucato.”

– The Guardian

“More and more euro-countries have struggled with the strict fiscal rules they themselves have imposed late last year. They find the Italian economist Mariana Mazzucato on their side. ‘With their austerity mania euro countries undermine their own recovery.’”

– Caroline de Gruyter, NRC Handelsblad

“A brilliant economist.”

– Anthony Hilton, The Independent

“Professor Mariana Mazzucato, of Sussex University, has come up with some bold ideas which should be required bedtime reading for all MPs. After a three-year study into the causes of and lessons of the financial crash, Mazzucato and her team published the final Finnov report last week. In it, she puts reforming the performance indicators used by financial markets right at the top of her list for reform.”

– Margareta Pagano, The Independent

“Economist Mariana Mazzucato has won disciples in high places — including in South Africa — with her focus on innovation as key to achieving inclusive growth.”

– The Sunday Times (South Africa)

“Economist Mariana Mazzucato’s ideas have won her the ear of everyone from Pope Francis, who invited her to join the Vatican’s COVID-19 economy task force, to Rep. Alexandria Ocasio-Cortez, whose Green New Deal was shaped by their conversations.”

– Fast Company

“In her adopted British homeland, Mariana Mazzucato’s reputation radiates far beyond economic circles. Since the publication of her book “The Entrepreneurial State” three years ago she has appeared again and again on television, where she hasn’t been pulling her punches against opponents in the debate.”

– Wiener Zeitung

“The shadow chancellor, John McDonnell, deserves credit for enlisting big brains like Joseph Stiglitz and Thomas Piketty, who have been thinking more seriously about fair and sustainable growth. On Tuesday, he hosted an impressive lecture by another – Mariana Mazzucato – who explained the policies that have in practice stimulated such growth.”

– The Guardian

Praise forThe Entrepreneurial State

A Financial Times, Forbes, and Huffington Post Best Book of the Year

“Conventional economics offers abstract models; conventional wisdom insists that the answer lies with private entrepreneurship. In this brilliant book, Mariana Mazzucato argues that the former is useless and the latter incomplete.”

– Martin Wolf, Financial Times

“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.”

– The Guardian

“A dazzling defence […] of The Entrepreneurial State.”

– Zoe Williams, The Guardian

“Read her book. It will challenge your thinking.”

– Bruce Upbin, Forbes

“It is 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 and that its contribution to the success of technology-based businesses should not be underestimated.”

– The Economist

“This is a book whose time has come. Mariana Mazzucato documents how the state played a crucial role behind some of the landmark innovations of our time. For many, the “entrepreneurial state” is a contradiction in terms. For Mazzucato, it is both a reality and a requirement for future prosperity.”

– Dani Rodrik, John F. Kennedy School of Government

“Mazzucato’s ideas are fuel for a growing political debate about what portion of the country’s wealth pie should be taken by the private sector”

– Rana Foroohar, TIME

“Professor Mazzucato’s proposal is worth pondering.”

– Eduardo Porter, The New York Times

“A skillful combination of the history of technology, empirical evidence, and policy analysis – the book contains a critical reading of data and arguments that run counter to established views while never falling short of offering constructive solutions.”

– Davide Consoli, Science

“[Mazzucato] argues persuasively that a successful, innovative society must draw on symbiotic partnerships between governmental and private entities.”

– Richard N. Cooper, Foreign Affairs

“A meticulously argued treatise that shows how unwise our conventional wisdom has become.”

– Christopher Dickey, Newsweek

“Ms. Mazzucato provides a refreshing new take on rather stale debates on the economic role of government. The Entrepreneurial State is a forceful reminder that governments have a major role to play in building a highly productive, innovative and sustainable economy.”

– The Globe and Mail

“Provides persuasive evidence that governments deserve more credit than private companies for the development of most important modern technologies.”

– Edward Hadas, Reuters

“Makes an engaging, persuasive case in favor of the state, and suggests one recommend it not just as an instrument of market repair but also as a prerequisite for future prosperity.”

– J. Bhattacharya, Choice

Praise for The Value of Everything

One of Strategy+Business’s Best Business Books 2018

“A compelling call to reinvent value as a key concept to help us achieve the world we all want.”

– Robert Constanza, Nature

“Passionate, infectious, timely … An exposé of how value extractors and rent-seekers have been masquerading as value creators in the global economy.”

– Fran Boait, Prospect

“A stimulating analysis of the underlying causes of inequality and growth which forces us to confront long-held beliefs about how economies work and who benefits … The book itself adds value by forcing us to confront these points.”

– Martin Wolf, Financial Times

“In The Value of Everything, published last week, Mazzucato sharpens her focus, not only lauding the role of ‘mission-oriented’ public investment but honing her critique of the private sector too … Mazzucato is fast emerging as one of the world’s leading public intellectuals.”

– Liam Halligan, Spectator

“She is the sort of critical friend capitalism needs.”

– Philip Collins, The Times

“A fundamental re-think of what constitutes real value in the economy.”

– Steve Denning, Forbes

“Optimistic and important … it reopens the possibility that the economic forces that affect our daily lives are neither an ecosystem that simply requires we get out of the way, nor something so complex and unknowable that they can’t be steered to serve the public interest again if the political will is there.”

– Angela Nagle, The Irish Times

“Some economists merely interpret the world in various ways; others seek to change it. Mariana Mazzucato is an exemplar of the latter kind. The Italian-American is a restless thinker drawn to transformative, disruptive projects … Mazzucato’s mission is to overturn the now dominant neoclassical theory of value.”

– George Eaton, New Statesman

“Mariana Mazzucato … argues that we urgently need to rethink where wealth comes from to heal a sick system.”

– Richard Kilgarriff, Management Today

“Essential reading.”

– Delphine Strauss, FT Magazine

“Mazzucato calls for nothing less than a complete reconsideration of our system of economic values.”

– Adam Tooze, New Statesman

“Her target is the conventional wisdom that so-called wealth creators deserve to accumulate massive riches. Mazzucato sides with the actual makers, those who struggle in an economy tilted in favour of the ultra-wealthy … She is especially eloquent when commenting on arrogant tech-giant billionaires.”

– Kirkus Reviews

“She excoriates the global financial industry. We need to rethink our ideas on value, and how financialization has turned us away from value creation to value extraction.”

– Hans Pienaar, Business Live

“A fresh look at the meaning of value to the economy … This organized and easy-to-read book will appeal to curious readers as well as those interested in economics, investing, and public policy.”

– Booklist

“An acute diagnosis of our economic ills.”

– Tim O’Reilly, author of “WTF?: What’s the Future and Why It’s Up to Us”

“As Mariana Mazzucuto’s new book, published today, explains, our economy has been financialized and no longer rewards real value creation.”

– Chi Onwurah, New Statesman

“The Value of Everything is absolutely worth the deep and reflective read. It will remain a vital resource for those interested in going beyond the tropes which make up much of public economics commentary. Ideally, it will also become a valuable guide for those who create bold and enduring alternatives to spur on the governments and innovators of the future.”

– Ash Milton, Palladium Magazine

“Another recommendation is ‘The Value of Everything’ by Mariana Mazzucato, one of my favourite economists. A book with inspiring ideas to reach a new social contract for the digital age. Mariana throws out the question that we should ask ourselves – what creates value? – when we are designing fiscal and competition rules.”

– Ana Botín, President of Banco Santander, El País (Spain)

“Mazzucato has an accomplished and intriguing work that forces us to profoundly reconsider analysis and our own often mistakenly simplistic view about the role of digital giants and the use of big data in the configuration of our society.”

– El Día (Spain)

“Thought-provoking book … a scathing yet considered indictment of how economic value is incorrectly determined in modern economies.”

– The Sydney Morning Herald

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