Mariana Mazzucato, economist: ‘Housing is a human right and the foundation for everything else’

Mariana Mazzucato, a prominent economist, passionately advocates for housing as a fundamental human right and a cornerstone for societal progress. After several weeks of fieldwork in Brazil and Mexico, she returned to London to share her insights. A champion of the entrepreneurial state, Mazzucato stresses the importance of defining clear long-term missions and objectives, rather than pursuing endless growth.

In her latest book, The Common Good Economy: A New Compass, she argues that affordable housing must be more than just a goal—it should be a human right and the foundation for everything else.

Progressive governments, both local and national, often seek her counsel on these matters. She promotes the idea of an economy built around specific missions, with economic growth emerging as a byproduct, rather than the primary objective. Collaborating with Spain’s economy minister, Carlos Cuerpo, Mazzucato has spearheaded the creation of a Global Council for a Common Good Economy.

Addressing the controversy surrounding the eviction of an 87-year-old woman named Maricarmen in Spain, Mazzucato insists that housing must be a common good. While short-term welfare solutions are necessary to prevent people from living in precarious conditions, governments must proactively shape the housing market. This includes imposing conditions on developers, curbing speculators, and building a social housing sector large enough to set construction terms.

Mazzucato believes that citizens should play an active role in shaping this new economy. Communities should decide which missions to pursue, but government involvement is still crucial. By listening to community members, particularly those who have been left behind and are disillusioned with populist politicians, governments can counteract distrust and foster a sense of unity.

The economist acknowledges the risks of long-term planning in an increasingly polarized society driven by immediate impulses. However, she argues that people are impatient and demand action. Healthcare, education, and lunch programs, for example, should not be left for distant future targets. Instead, funding should be allocated promptly to address urgent needs.

In the current geopolitical landscape, which Mazzucato describes as one of the most problematic since the 1960s, she advocates for redefining security beyond defense spending. Instead, she emphasizes the importance of water, energy, and health security, as well as resilience and sovereignty. By shifting the focus from defense to these critical areas and incorporating knowledge-transfer agreements and investments, countries can stimulate innovation, growth, and economic stability.