New Economic Approaches. A coordinated response to crisis, maximising innovation and connectivity, targeting investment and implementing policy measures to create lasting change. – Mariana Mazzucato
podcast RSA bridges to the future (33 min)
Professor in the Economics of Innovation and Public Value and Founder and Director of the Institute for Innovation and Public Purpose at University College London. She advises policymakers around the world on innovation-led inclusive and sustainable growth. ,on a mission to save capitalism from itself.’ Wired says, she has ,a plan to fix capitalism’.
Her name is Italian, sounds Japanese and means christmas tree in Japanese.
3 crisis coexisting:
climate
health
financial
how to construct our society in the future?
now we only react when we have to fix something
not throw money at a service, but think about it before
how could we forgot about services that are so valuable
constructing economies where we undervalue certain services that we now realize as so important
going back to normal is of course problematic, when the normal itself got us where we are
quick remedies vs. longterm structure of an economy we want to build
not the lack of growth
but the direction of growth is the issue
need quick help
no time for big philosophical conversations
because there are existing contracts
we can write conditions in that are both fair and ambitious
contracts can be short
conditionality:
we don’t need to give out money without conditions
bail outs with no conditions: ,seeya!’
come back, if you change your mind
we help you, if you also help us
multiple crisis
financial crisis lots of money without conditions
short term goal: liquidity
strategy
thinking ahead of time
active cocreators and coshapers of the public
growth does not only have a rate, but a direction
direction into the center of treasury
important how we evaluate public investments
work quickly
and go in the direction that you want to go
the really interesting things are when government goes across department
of course we need to introduce a system with liquidity
there is a money tree
how we structure this is important
somehow money appears when people want to
procurement
government as purchaser, not investor
what kind of health do we want for our economy
there is so much to learn around the world what works and what doesn’t
using this opportunity to really structure and bring back strategy
and dreaming a better society
but doing it in the now
what better moment
and we can’t fail
we have to try…
// more Marina Mazzucato
The Ezra Klein Show (01:24)