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.
Mariana MazzucatoBrexit and Trump have brought the problems of capitalism into sharp relief, but both are only making things worse. Take the investment challenge - businesses invest where there they see technological or market opportunity.
Mariana MazzucatoBrexit and Trump's election are forcing countries to come up with new radical ideas.
Mariana MazzucatoShareholder value theory - the destructive idea that companies should be run solely for the benefit of shareholders - has led to financialized businesses that do not invest in the areas that will lead to future growth or the invention of useful new products.
Mariana MazzucatoThe actual division of labor must be reflected in the division of the rewards (and prices, which is the way the consumer gets rewarded).
Mariana MazzucatoAs a businessman, Donald Trump has been associated with some of the worst excesses of a particular style of value-extracting and asset stripping capitalism: set up businesses, let them fail, avoid paying suppliers, use bankruptcy laws to avoid taxes for decades, then set up another business somewhere else. It is this model that is the cause of many problems we see today.
Mariana Mazzucato