INTERVIEW - "Most public-private partnerships are parasitic": Economist Mariana Mazzucato calls for a new capitalism
The state should steer the economy more strongly: This message made the London professor a star of the global left. In an interview, she defends herself against liberal objections and criticizes the power of Big Tech.
Mariana Mazzucato, a 58-year-old London economics professor, advocates for a more interventionist state to steer the economy. She argues that the state should not just correct market failures, but drive economic developments and set goals, using tools like credits, tax incentives, and public procurement to foster innovation. Mazzucato cites the example of the US space agency NASA, which drove innovation in the 1960s by setting specific goals, such as the moon landing.
She criticizes states for simply handing out money to companies without demanding anything in return, citing the example of Easy Jet receiving a £600 million loan from the UK government during the COVID-19 pandemic. Mazzucato's new book focuses on the need for mutually beneficial partnerships between the state and private sector.
Written by urgent.news from NZZ Wirtschaft's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
