What is needed is both a New Deal in terms of mission-oriented investments but also a new deal in terms of a modern social compact - one that allows the state to socialize not only risks but also rewards. Maybe then innovation-led growth will also become growth that includes all of us.
Mariana MazzucatoWhile infrastructure is of course important, it must be part of a bigger vision. The point is not to simply dig ditches but to steer those investments towards transformational growth.
Mariana MazzucatoGermany is using its Energiewende policy as a way of envisioning a green transformation and innovation across many sectors.
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 MazzucatoMost venture capital funds are too short-termist and exit-driven to deal with the highly uncertain and lengthy innovation process.
Mariana Mazzucato