Mariana Mazzucato

In this thought-provoking talk, Mariana Mazzucato delves into the intricate web woven by major consulting firms and their vast influence on businesses, governments, and economies at large. Challenging the dominant narrative, Mazzucato reveals the stark realities of how these consultancies, riding on the wave of neoliberal reforms and modern capitalist dilemmas, often stymie innovation and cloud accountability. Drawing from extensive research, she dismantles the notion that these firms always enhance economic value, shedding light on their propensity to steer talent away from public service and perpetuate systemic issues, including the climate crisis. Calling for a paradigm shift, Mariana makes a compelling case for reinventing organizational frameworks, advocating for a collaborative model where both public and private sectors innovatively serve the broader collective good. Through this, she underscores the urgency to redefine the consulting industry's role and reshape economies and governments to be genuinely purpose-driven.

In her enlightening talk "Mission Economy: A Moonshot Guide to Changing Capitalism," Mariana Mazzucato draws parallels between the ambitious 'moonshot' projects of the past and the pressing challenges capitalism faces today. Addressing critical issues like inequality, the digital divide, and the environmental crisis, Mariana advocates for a harmonized approach between the public and private sectors. She emphasizes the need to reimagine the role of government, fostering innovation and a renewed sense of public purpose. By adopting these mission-driven strategies, she presents a transformative roadmap towards a more hopeful and inclusive future.

In this presentation based on her new book, “The Value of Everything: Making and Taking in the Global Economy” (Public Affairs, 2018), renowned economist Mariana Mazzucato delves into the pressing questions of our time: What constitutes real wealth in our contemporary world? How have we come to conflate wealth extraction with genuine wealth creation? Mazzucato unveils the hidden dynamics of modern capitalism, where the system often rewards takers more than makers. With a critical eye on entities that prioritize shareholder maximization and pharma companies that leverage 'value pricing' for exorbitant profit, Mazzucato prompts us to redefine our understanding of value. This is not just an economic discussion—it's a call to action. To reshape capitalism into a system that benefits all, we must reengage with the fundamental concept of value and its place in our economy. Join Mazzucato as she reignites this essential debate, urging us to envision a world where capitalism is both sustainable and symbiotic.

Mariana Mazzucato presents a groundbreaking perspective that challenges mainstream narratives about innovation and economic growth. In this talk, she addresses the misconception of the State as merely a cumbersome bureaucratic entity, arguing instead for its pivotal role in spearheading bold, high-risk investments that pave the way for private sector dynamism. Drawing from a wealth of case studies, from the origins of the Internet to groundbreaking advances in biotechnology, Mazzucato showcases how it was often the State, not private investors, that took the initial leaps, thereby creating landscapes for businesses to thrive.

Mariana Mazzucato challenges the prevailing notion that innovation naturally leads to widespread prosperity without widening economic gaps. Highlighting the mismatch where private firms benefit from public funds, she calls for a transformative approach where governments actively participate in innovation. Drawing from her in-depth research and involvement with entities like the Scottish National Investment Bank, Mazzucato stresses the importance of giving the state, and consequently its citizens, a stake in the innovations they finance, ensuring that the entire community, not just businesses, benefit from economic progress.

In this presentation, Mariana emphasizes that the evolution of green technology requires concerted efforts from both public and private sectors. However, indiscriminate funding can lead to misaligned incentives, turning potential public benefits into instances of private profit at the public's expense. Mazzucato advocates for a strategic, goal-driven approach to green tech investments, highlighting the importance of specific country specializations and advocating for genuine public-private partnerships. This method ensures optimal use of taxpayer funds, fostering inclusive growth and innovation, while concurrently addressing environmental challenges.