Mariana Mazzucato

Public control is gaining traction in Andy Burnham’s government. But what does it mean? Anna Hope Emerson and I set out a clear definition. Public control is the capacity of the state to steer the strategic direction of economic activity through the public-purpose orientation of its policy tools.

Spoke today to the UKRI R&D Missions Accelerator Programme. Missions work when they set clear outcomes, have real authority across government and link innovation to delivery. Our June report on the UK's national missions sets out what successful mission delivery looks like. Link below.

To tackle our biggest challenges we need institutions designed to deliver on purpose. Conditions on public money, rewards shared alongside risks, and accountability for the direction we choose together.

Fiscal responsibility matters. But defining it narrowly as meeting deficit and debt targets can be self-defeating. Cutting spending in a weak economy reduces growth and investment, potentially leaving debt higher relative to GDP.

A better approach looks at whether fiscal policy strengthens the economy’s capacity to grow, withstand shocks and meet its obligations over time.

We can't do 'good' in the economy with an economic theory that only tells us how to fix markets if and when they fail. The common good is an objective, not a correction, where the how matters as much as the what. Telos and Polis!

In Madrid on a tumultuous day for Spain. Citizens are right to demand housing as a human right and the foundation of everything else. Not as an asset class for speculation. We need a different economics and economy: that sets the objective first and builds the tools and relationships to reach it.

We can't do 'good' in the economy with an economic theory that only tells us how to fix markets if and when they fail. The common good is an objective, not a correction, where the how matters as much as the what. Telos & Polis! Spoke w Surplus Magazine, about German edition The Common Good Economy.

The UK’s public finance bodies have real potential to drive economic transformation, but they are too siloed, too small relative to international peers, and the fiscal rules are holding them back.

New report looks at the UK’s newest public finance bodies, £77bn in combined capacity, which exhibit strong foundations but shared limitations, including that none can raise capital independently. We detail what needs to change at the institutional design level, & for the ecosystem as a whole.

In the old economics, doing good is a correction for a market failure. In an economics of the common good, it is an objective we design and work on together in every contract and relationship from the start. The Common Good Economy is out in Germany today.

Ein Kapitalismus, der allen nützt ➡️ marianamazzucato.com/books/the-co... der Freitag's book of the week ➡️ www.freitag.de/produkt-der-...

Next week I'll be at Labour Party Conference in Liverpool to share our work on green industrial strategy and public finance, including our new report on the UK's public finance ecosystem. Liverpool | 28–29 September | Schedule of public engagements below.

Join us for the launch of "The Rulers: Corporate Power in the Age of AI and the Cloud" by Cecilia Rikap: if we're serious about an innovation economy that delivers public value over extraction, we have to confront who actually rules it.

Looking forward to being in conversation with @ceciliarikap.bsky.social , @nsrnicek.bsky.social , Francisca Moya Marchi and @chakrabortty.bsky.social . Wilkins Gustave Tuck Lecture Theatre, UCL | Tue 29 Sep | 17:30 BST

Plan México’s targets (including water, health, energy, infrastructure) cut across government departments. Better coordination is needed across departments and sectors to utilise key levers, drive dynamic innovation and deliver rewards shared widely for “prosperidad compartida”.

We’re hiring a Policy Fellow in Green Industrial Strategy & Green Finance at @iipp-ucl.bsky.social !

This is a unique opportunity to join my team and contribute to research and policy work on how governments can accelerate the green transition through ambitious industrial strategy and innovative approaches to green finance.

Today at UNAM, launching our new report, State Transformation for Plan México, that I co-authored with @laramerling.bsky.social . The goal is not simply more growth, but a different growth path — one that puts prosperidad compartida at its centre.

Delivering this requires a state architecture capable of protecting public investment, procuring with purpose, coordinating the public banking system, and asking for commitments in return when the state backs business.

I’m excited to launch my new report, State Transformation for Plan México, co-authored with @laramerling.bsky.social , at UNAM next week.

The report focuses on building the economic and institutional architecture needed to support the direction set by the Mexican government: turning this ambition into a new, more inclusive sustainable path to growth.

I’m excited to launch my new report, State Transformation for Plan México, co-authored with @laramerling.bsky.social , at UNAM next week.

We’re hiring a Policy Fellow in Green Industrial Strategy & Green Finance at @iipp-ucl.bsky.social !

This is a unique opportunity to join my team and contribute to research and policy work on how governments can accelerate the green transition through ambitious industrial strategy and innovative approaches to green finance.