Fixing markets isn't enough. We have to actively shape and create them and tilt the playing field in the direction of the growth we want.

Fixing markets isn't enough. We have to actively shape and create them and tilt the playing field in the direction of the growth we want.

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

Shareholder 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.

Too many politicians seem to reach for 'infrastructure' as the default answer to investment, as if roads and bridges were the answer to everything. Even the IMF and the World Bank seem to mainly offer infrastructure spending as an alternative to austerity, although they are right to focus on the need for investment.

Growth in productivity has diverged from growth in the share that working people can expect right across advanced economies, but this trend started earlier and has been more pronounced in the U.S.

People work hard and companies make big profits, but employees don't see that they share in the wealth they help to create.