Professor Mariana Mazzucato will talk about the need for rethinking the state, away from simply fixing “market failures” towards actively shaping and creating markets that deliver growth that is inclusive and sustainable. She will discuss the need for more ‘mission oriented’ policies (which she has helped design globally, including in the EC’s horizon programme) which require a new social contract between public and private sectors to share both risks and rewards. This cannot happen without stronger public sector capacity and capabilities, which in her latest book, The Big Con, she argues has been outsourced away to consultants. During her talk she will also refer to the work she is doing in two global commissions she chairs: the World Health Organization Council on the Economics of Health for All and the Global Commission on the Economics of Water.
Mariana Mazzucato (PhD) is Professor in the Economics of Innovation and Public Value at University College London (UCL), where she is Founding Director of the UCL Institute for Innovation & Public Purpose (IIPP). She received her BA from Tufts University and her MA and PhD from the Graduate Faculty of the New School for Social Research. Her previous posts include the RM Phillips Professorial Chair at the Science Policy Research Unit (SPRU) at Sussex University. She is a selected fellow of the UK’s Academy of Social Sciences (FAcSS) and of the Italian National Science Academy (Lincei).
She is winner of international prizes including the Grande Ufficiale Ordine al Merito della Repubblica Italiana in 2021, Italy's highest civilian honour, the 2020 John von Neumann Award, the 2019 All European Academies Madame de Staël Prize for Cultural Values, and the 2018 Leontief Prize for Advancing the Frontiers of Economic Thought. She was named as one of the '3 most important thinkers about innovation' by The New Republic, one of the 50 most creative people in business in 2020 by Fast Company, and one of the 25 leaders shaping the future of capitalism by WIRED. Most recently, Pope Francis appointed her to the Pontifical Academy for Life for bringing “more humanity” to the world.
She is the author of four highly-acclaimed books: The Entrepreneurial State: debunking public vs. private sector myths (2013) which investigates the critical role the state plays in driving growth; The Value of Everything: making and taking in the global economy (2018) which looks at how value creation needs to be rewarded over value extraction; Mission Economy: a moonshot guide to changing capitalism (2021) rethinks the capacity and role of government within the economy and society; and most recently The Big Con: How the Consulting Industry Weakens our Businesses, Infantilizes our Governments and Warps our Economies (2023).
She advises policy makers around the world on innovation-led inclusive and sustainable growth. Her current roles include being Chair of the World Health Organization's Council on the Economics of Health for All, Co-Chair of the Global Commission on the Economics of Water, Co-Chair on the Council on Urban Initiatives, member of the South African President’s Economic Advisory Council, the UN High Level Advisory Board for Economic and Social Affairs, the European Space Agency’s High-Level Advisory Group on Human and Robotic Space Exploration for Europe, Argentina’s Economic and Social Council and Vinnova’s Advisory Panel in Sweden and the OECD High-Level Advisory Panel on Climate and Economic Resilience. Previously, through her role as Special Advisor for the EC Commissioner for Research, Science and Innovation (2017-2019), she authored the high-impact report on Mission-Oriented Research and Innovation in the European Union, turning “missions” into a crucial new instrument in the European Commission’s Horizon innovation programme, and more recently, authored a report with the UN’s Economic Commission for Latin America and the Caribbean (ECLAC) on Transformational Change in Latin America and the Caribbean: A mission-oriented approach.