Top Mariana Mazzucato Quotes - Quotesmemo.com

Mariana Mazzucato Biography

Mariana Mazzucato

Mariana Mazzucato (born June 16, 1968) is an economist, with dual Italian and United States citizenship. She is Professor in the Economics of Innovation and Public Value and Director of the Institute for Innovation and Public Purpose at University College London (UCL), as well as author of The Entrepreneurial State: debunking public vs. private sector myths and The Value of Everything: making and taking in the global economy. In 2016, Mazzucato co-edited a book, Rethinking Capitalism: Economics and Policy for Sustainable and Inclusive Growth with Michael Jacobs. In 2013 The New Republic called her one of "the three most important thinkers about innovation".

Read about Mariana Mazzucato in Wikipedia

Random Authors

Mariana Mazzucato Quotes

If we look at Germany's infrastructure policy, it has been driven by its mission-oriented focus on green infrastructure. This affects both innovation and infrastructure, old industries and new. The German steel industry, for example, has adapted to the policy by lowering its material content through a 'repurpose, reuse and recycle' strategy.

Content, Example, Focus, Industry, Innovation, Steel

If we want growth today to be more innovation-driven, more inclusive and more sustainable, then we need a more active state, not a less active one. Yet we still hear the dogma that we should just fix market failure by focusing on science and infrastructure, and to "level the playing field. "

Field, Growth, Inclusive, Innovation, Needs, Today

Germany is using its Energiewende policy as a way of envisioning a green transformation and innovation across many sectors.

Innovation, Germany, Green, Way, Across, Envisioning

Most venture capital funds are too short-termist and exit-driven to deal with the highly uncertain and lengthy innovation process.

Innovation, Venture, Exit, Lengthy, Funds, Deal

Markets are not static entities that are 'intervened' in (for good or bad) but are outcomes of public and private interactions.

Entity, Good, Outcomes, Private, Static

Once we admit that the public sector takes an immense amount of risk along the entire innovation chain, it becomes crucial to find ways to share both risks and rewards.

Becomes, Innovation, Rewards, Risk, Risks, Ways

We should be investing where the public returns are greatest - that is in innovation.

Greatest, Innovation, Investing, Return, Returns

I often use the iPhone as an example of how governments shape markets, because what makes the iPhone ‘smart’ and not stupid is what you can do with it. And yes, everything you can do with an iPhone was government-funded. From the Internet that allows you to surf the Web, to GPS that lets you use Google Maps, to touch screen display and even the SIRI voice activated system - all of these things were funded by Uncle Sam through the Defense Advanced Research Projects Agency (DARPA), NASA, the Navy, and even the CIA!

Funded, Screen, Smart, Stupid, Surf, Uncles

Government support is not only investing in upstream areas like basic research, but also in downstream areas like applied research and early-stage financing for the companies themselves. This means there are great risks.

Basic, Companies, Government, Mean, Risks, Support

My specific concerns with Trump's plans are that they are likely to investments in infrastructure where the private returns are highest (for example toll roads and bridges) rather than where the public gains are greatest.

Bridges, Example, Highest, Tolls

Mainstream economic theories popular in the last several decades have tended to downplay the government's role in markets and to increase skepticism about even that more limited role. Austerity, particularly in Europe, has added to the problem. It has not worked, even on its own terms.

Government, Europe, Roles, Popular, Decades

There is a lot of flesh to be put on the bones - but there is at least an opening for a more pragmatic, less ideological debate about how to build economies that work for people, within the limits of our planet.

People, Flesh, Limits, Work, Pragmatic

Unfortunately, simplistic framing of problems leads to simplistic answers.

Answers, Framing, Problem, Unfortunately

People work hard and companies make big profits, but employees don't see that they share in the wealth they help to create.

Hard Work, People, Helping, Share, See, Help

Another similarity of Brexit and Trump's campaigns was an attack on so-called elites. This is not so much a failure of capitalism as of its high priests in the economic profession, for which we must all take some responsibility.

Attack, Campaigns, Economic, Failure, Responsibility, Similarity

Rethinking capitalism means rethinking the role of the public sector, the role of the private sector, the role of finance, and the relationship between them all.

Finance, Mean, Private, Rethinking, Role, Roles

Brexit has shrunk the market opportunities. Exiting trade deals will do the same for the U. S. Those deals must be actively shaped and governed to make growth more inclusive.

Deals, Growth, Opportunity, Trade

It's important that public funds be spent in research directions that are pushing market frontiers rather than working in existing areas. This means funding research not only on drugs but also on areas like life-style changes, even if the profit potential is lower for Big Pharma as you cannot sell that change as you can sell a medicine.

Drug, Funds, Mean, Medicine, Profit, Sell

Too many politicians seem to reach for 'infrastructure' as the default answer to investment, as if roads and bridges were the answer to everything. Even the IMF and the World Bank seem to mainly offer infrastructure spending as an alternative to austerity, although they are right to focus on the need for investment.

Although, Bridges, Focus, Needs, Reach, Roads

An interesting attribute of public banks is that they don't only de-risk the downside, but also get a share of the upside.

Attribute, Interesting, Public, Risk, Share

1