An award-winning author and leading international economist delivers a hard-hitting and much needed critique of modern capitalism in which she argues that, to solve the massive crises facing us, we must be innovative—we must use collaborative, mission-oriented thinking while also bringing a stakeholder view of public private partnerships which means not only taking risks together but also sharing the rewards.
Capitalism is in crisis. The rich have gotten richer—the 1 percent, those with more than $1 million, own 44 percent of the world's wealth—while climate change is transforming—and in some cases wiping out—life on the planet. We are plagued by crises threatening our lives, and this situation is unsustainable. But how do we fix these problems decades in the making?
Mission Economy looks at the grand challenges facing us in a radically new way. Global warming, pollution, dementia, obesity, gun violence, mobility—these environmental, health, and social dilemmas are huge, complex, and have no simple solutions. Mariana Mazzucato argues we need to think bigger and mobilize our resources in a way that is as bold as inspirational as the moon landing—this time to the most ‘wicked’ social problems of our time.. We can only begin to find answers if we fundamentally restructure capitalism to make it inclusive, sustainable, and driven by innovation that tackles concrete problems from the digital divide, to health pandemics, to our polluted cities. That means changing government tools and culture, creating new markers of corporate governance, and ensuring that corporations, society, and the government coalesce to share a common goal.
We did it to go to the moon. We can do it again to fix our problems and improve the lives of every one of us. We simply can no longer afford not to.
Mariana Mazzucato is an economist with dual Italian and United States citizenship. She is a professor in the Economics of Innovation and Public Value and the director of the Institute for Innovation and Public Purpose at University College London (UCL) and the RM Phillips Chair in the Economics of Innovation at the University of Sussex. She is also a member of the Scottish Government's Council of Economic Advisers.
Mazzucato is the author of The Entrepreneurial State: debunking public vs. private sector myths and The Value of Everything: making and taking in the global economy. In 2016, Mazzucato co-edited a book, Rethinking Capitalism: Economics and Policy for Sustainable and Inclusive Growth with Michael Jacobs. In 2013 The New Republic called her one of "the three most important thinkers about innovation".