Brexit 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.

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

Brexit 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.

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

Companies prefer to put money in the pockets of shareholders or to hoard cash rather than to raise wages or invest.

Green is not just about renewable energy. It's also about creating a new direction for the whole economy. This requires government to step up, not step back, creating the kinds of mission-oriented public organizations that will enable us to tackle climate change - as ambitious as those that got us to the moon. It also requires the financial sector to be less short-term since we know that short-term finance has distorted incentives and directions in areas like biotechnology.

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