Real median household incomes in the U.S. were basically the same in 1989 as in 2014. But we are also seeing similar challenges in the U.K. in the stagnation of real wages.
Mariana MazzucatoAn interesting attribute of public banks is that they don't only de-risk the downside, but also get a share of the upside.
Mariana MazzucatoIt would be a mistake to overstate the similarities between the Brexit vote and Trump's win - but there are common themes, not least in the rallying cries that the winning campaigns used. They focused on a supposed economic threat posed by outsiders, as immigrants or as trade partners. This fuelling of anxieties underpinned a narrative centered on the need to "regain control," whether of borders or of economic forces.
Mariana MazzucatoCompanies prefer to put money in the pockets of shareholders or to hoard cash rather than to raise wages or invest.
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