Mariana Mazzucato
Biography
Mariana Mazzucato is an internationally renowned economist, academic, and author, recognized for her groundbreaking work on innovation, public value, and the role of the state in economic growth. She is Professor in the Economics of Innovation and Public Value at University College London (UCL), where she is also the Founding Director of the UCL Institute for Innovation and Public Purpose (IIPP). Mazzucato challenges conventional economic narratives, particularly the idea that the state should only intervene to fix market failures. Instead, she argues for an 'entrepreneurial state' that actively shapes and creates markets, investing in high-risk, radical innovation. Her research and publications have significantly influenced policy debates globally, advocating for a mission-oriented approach to tackle grand societal challenges like climate change and health crises. She advises governments and international organizations on industrial policy and innovation strategies.
Selected Thoughts
«The state is not just fixing market failures, it is actively shaping and creating markets.»
«Value is not just extracted but created. And we need to get smarter about who creates it, and how they share in its risks and rewards.»
«If we want to build a better capitalism, we need to bring purpose, and public purpose, back into the heart of economic activity.»
Writing Style
Mazzucato's writing style is academic, analytical, and highly persuasive, yet accessible to a broad audience. She often employs historical case studies and empirical evidence to support her arguments, critically dissecting mainstream economic theories. Her prose is clear and direct, aiming to challenge and reframe established ideas about value creation, state intervention, and market dynamics. She writes with a sense of urgency, often proposing concrete policy implications based on her theoretical frameworks.