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Mission oriented policy and rethinking public value

Mariana Mazzucato, University College London

Thursday 2 November 2017, 6.30PM

Speaker(s): Mariana Mazzucato, University College London

Ken Dixon Lecture

Growth and innovation have not only a rate but also a ‘direction’. The talk will focus on the ways to direct innovation towards societal missions—such as those around climate change and health care systems. Mariana will argue that ‘mission oriented’ thinking requires building dynamic public-private partnerships across many sectors that rethink the ‘public’ part of the partnership away from a pure ‘market failure’ framework. A mission oriented framework involves (1) justifying public policy in terms of market shaping and making (not only ‘fixing’); (2) admitting the risks (and hence trial and error) involved in picking strategic ‘directions’; (3) investing in the capacity and capabilities to learn from failures, and (4) socialising both the risks and rewards of the collective value creation process. 

Speaker biography: Mariana Mazzucato is a Professor in the Economics of Innovation and Public Value and Director of the Institute for Innovation and Public Purpose at University College London (UCL). Her work is focused on the economics of innovation; finance and economic growth; and the role of the State in modern capitalism.

She has advised policy makers around the world on how to achieve economic growth that is 'smart' and inclusive. Her book, The Entrepreneurial State: debunking public vs. private sector myths, challenges the image of the lethargic, regulating state versus the dynamic business sector—using historical examples to show public sector investments sparked technological revolutions. It offers a new way of thinking about political economy in the 21st century.

Her latest book is Rethinking Capitalism: Economics and Policy for Sustainable and Inclusive Growth, co-edited with Michael Jacobs.

See Mariana's TEDtalk

Location: Ron Cooke Hub auditorium, Campus East

Admission: is by free ticket only. Please book below.

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