Smart and Inclusive Growth: a new narrative on wealth creation

Speaker: Prof Mariana Mazzucato # University of Sussex

27th Jan 2017

15:00 - 17:30

David Hume Tower - LG.11

This event is co-hosted with Social Policy.


Building on the core ideas in my book The Entrepreneurial State: debunking public vs. private sector myths, the talk will highlight the narrow way in which public policy is viewed in economics and the implications of this for our understanding of wealth creation. Focussing on the relationship between the State and innovation-led growth, the talk will look at the key role that public policies have had in envisioning change, and taking on extreme risk and uncertainty in the innovation process. This has entailed the State acting not just as lender of last resort, but as investor of first resort. In this context, economic policy is more about market making and shaping, rather than just a market fixing. The talk will then consider the implications of this different understanding of public policy, for a more ‘collective’ understanding of wealth creation, and ways to ensure that not only risks but also rewards are socialised.  

*After the talk there will be a wider discussion with the whole audience. All attendees are then invited to attend an informal drinks reception from approximately 4.30pm*

Professor Mariana Mazzucato (PhD) holds the RM Phillips chair in the Economics of Innovation at SPRU in the University of Sussex. Her book The Entrepreneurial State: debunking public vs. private sector myths (Anthem 2013; US edition Public Affairs, 2015) was on the 2013 Books of the Year list of the Financial Times. Professor Mazzucato is winner of the 2014 New Statesman SPERI Prize in Political Economy, the 2015 Hans-Matthöfer-Preis and in 2013 the New Republic called her one of the '3 most important thinkers about innovation'.

She advises policy makers around the world on innovation-led growth and is currently a member of the Scottish Government’s Council of Economic Advisors; the World Economic Forum’s Council on the Economics of Innovation and SITRA’s (Finnish Innovation Fund) Advisory Panel. She is currently working on two major research projects funded by the European Commission’s Horizon 2020 programme and on research commissioned by organisations including NASA, the European Space Agency and the Brazilian Ministry for Science and Technology.

She is co-editor of a new book, Rethinking Capitalism: Economics and Policy for Sustainable and Inclusive Growth (Wiley Blackwell, July 2016), and is currently writing The Value of Everything, which will be published by Penguin’s Allen Lane in Spring 2017.