From market fixing to market shaping: reframing growth policy

Mariana Mazzucato, Institute for Innovation and Public Purpose/ UCL, presented to the 3rd New Economic Paradigm Workshop.

 

Mazzucato demonstrates that innovation-led ‘smart’ growth requires public policy to move beyond ‘fixing’ market failures. Public agencies need to create markets for new technologies, which will, in turn, open the way for private investment.

 

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