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 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 MazzucatoMarkets are not static entities that are 'intervened' in (for good or bad) but are outcomes of public and private interactions.
Mariana MazzucatoBrexit and Trump's election are forcing countries to come up with new radical ideas.
Mariana MazzucatoMainstream economic theories popular in the last several decades have tended to downplay the government's role in markets and to increase skepticism about even that more limited role. Austerity, particularly in Europe, has added to the problem. It has not worked, even on its own terms.
Mariana Mazzucato