Mariana Mazzucato - rethinking innovation & value

Mariana Mazzucato - rethinking innovation & value

What was the nature of their innovation and how did it contribute to humankind? For her pioneering work showing that the state has often driven innovation (such as the iphone) and is crucial to meeting the challenge of climate change. And how the current system rewards value takers not value makers. Her in-depth work challenges some of the basic mistakes of the neoclassical mainstream and offers a path towards a brighter future. See more here:


Mariana's work on values has changed the discourse in the public area for the better, specifically in the area of public investment.

Her detailed economic analysis shows how risk and innovation has been socialised, and rewards have been prioritsed in our upside down financial system. Crucial thinking for the 21st century.

Her approach is a careful analysis of both old theoretical questions, blended with a clear empirical sense for how things are done in the real. In that sense her theories are deeply grounded in the real world, in opposition to so much theory based on an imaginative world.

The bel canto that comes soaring through in Mazzucato's approach is the restoration of PURPOSE, including public purpose, to our considerations of economic development and progress. In the neoclassical model purpose gets subsumed into rational self-interest, and then we wonder why the world is in such a mess. By re-establishing the importance of purpose - and the democratic process needed to establish what purpose is - Mazzucato enables us to rethink our prime assumptions.

Dr. Mazzucato, has made a series of valuable contributions, including the need to change the discourse around how public value is created, nurtured, and evaluated. Dr Mazzucato has also powerfully highlighted the entrepreneurial role the state can play in bringing about transformational and desirable change, offering compelling reasoning and evidence that the public sector's role can and should extend well beyond fixing market failures to co-shaping and co-creating markets.

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