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Mariana Mazzucato

Mariana Mazzucato is professor in the economics of innovation and public value at University College London and author of The Big Con: How the Consulting Industry Weakens our Businesses, Infantilizes our Governments and Warps our Economies (Penguin, 2023).

Mariana Mazzucato

Mariana Mazzucato is professor of the economics of innovation and public value and director of the University College London Institute for Innovation and Public Purpose. She is the author of The Value of Everything: Making and Taking in the Global Economy (Penguin Random House).

Confronting the global water crisis

Mariana Mazzucato 23rd March 2023

To safeguard this most fundamental natural resource, we urgently need a global strategy for water as a common good.

Consultants and the crisis of capitalism

Mariana Mazzucato 6th March 2023

Growing reliance on big consultancies is stunting state capacity and undermining democratic accountability.

The entrepreneurial state must lead on climate change

Mariana Mazzucato 7th November 2022

As a much-touted green alliance of financial institutions crumbles, the private sector has once again proved unequal to the task of climate leadership.

Toward a progressive economic agenda

Mariana Mazzucato 10th October 2022

To win power, progressive leaders must articulate a coherent economic policy, focusing not only on redistribution but also value creation.

Failing the pandemic-preparedness test

Mariana Mazzucato 20th September 2022

The G20’s pandemic-preparedness fund risks becoming just another burdensome distraction.

Effective pandemic response must be truly global

Mariana Mazzucato 26th July 2022

The world needs a pandemic preparedness and response strategy built on equitable and representative decision-making.

The right institutions for the climate transition

Mariana Mazzucato 22nd November 2021

Global climate commitments will not amount to much without the institutional foundation the transition to a zero-carbon economy needs.

A new global economic consensus

Mariana Mazzucato 14th October 2021

The pandemic has highlighted the deficiencies of economic deregulation and market liberalisation and a new policy-making paradigm is emerging.

Mission-driven localities

Mariana Mazzucato 27th July 2021

While exposing and exacerbating longstanding inequalities, the pandemic has given rise to a wealth of promising local initiatives.

Don’t defund the BBC

Mariana Mazzucato 4th March 2021

Rather than public institutions being limited to fixing market failures, organisations such as the BBC are also market shapers.

From moonshots to earthshots

Mariana Mazzucato 5th February 2021

The pandemic has created a huge opportunity to restore mission-driven governance in the public interest.

Avoiding a climate lockdown

Mariana Mazzucato 30th September 2020

The world is approaching a tipping point on climate change, when protecting the future of civilisation will require dramatic interventions.

Capitalism’s triple crisis

Mariana Mazzucato 9th April 2020

After the 2008 financial crisis, we learned the hard way what happens when governments flood the economy with unconditional liquidity, rather than laying the foundation for a sustainable and inclusive recovery.

Preventing digital feudalism

Mariana Mazzucato 9th October 2019

Reforming the digital economy so that it serves collective ends is the defining economic challenge of our time.

Who Really Creates Value In An Economy?

Mariana Mazzucato 17th September 2018

After the 2008 global financial crisis, a consensus emerged that the public sector had a responsibility to intervene to bail out systemically important banks and stimulate economic growth. But that consensus proved short-lived, and soon the public sector’s economic interventions came to be viewed as the main cause of the crisis, and thus needed to […]

Mission Thinking: A Problem-Solving Approach To Fuel Innovation-Led Growth

Mariana Mazzucato 19th June 2018

The world is afflicted by problems that people experience in their daily lives: clean air in congested cities, a healthy and independent life in old age, access to digital technologies that improve public services, and treatment of diseases like cancer or obesity that continue to afflict millions of people across the globe. What is the […]

A State-Powered Green Revolution

Mariana Mazzucato 14th March 2016

Discussions about building a green future tend to focus on the need to improve the generation of energy from renewable sources. But that is just the first step. Better mechanisms for storing and releasing that energy – when the sun isn’t shining, the wind isn’t blowing, or when electric cars are on the move – […]

Toward A Green New Deal

Mariana Mazzucato 15th December 2015

The global agreement reached in Paris last week is actually the third climate agreement reached in the past month. The first happened at the end of November, when a group of billionaires led by Bill Gates, Mark Zuckerberg, and Jeff Bezos announced the creation of a $20 billion fund to back clean-energy research. On the […]

Jeremy Corbyn’s Necessary Agenda

Mariana Mazzucato 1st October 2015

Seven economists (including Joseph Stiglitz, Thomas Piketty, and me) have agreed to become economic advisers to Jeremy Corbyn, the new leader of the British Labour Party. I hope we will have a shared goal to help Labour shape an economic policy that is investment-led, inclusive, and sustainable. We will bring different ideas to the table, but these […]

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The four transitions and the missing one

Europe is at a crossroads, painfully navigating four transitions (green, digital, economic and geopolitical) at once but missing the transformative and ambitious social transition it needs. In other words, if the EU is to withstand the storm, we do not have the luxury of abstaining from reflecting on its social foundations, of which intermittent democratic discontent is only one expression. It is against this background that the ETUI/ETUC publishes its annual flagship publication Benchmarking Working Europe 2023, with the support of more than 70 graphs and a special contribution from two guest editors, Professors Kalypso Nikolaidïs and Albena Azmanova.


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Eurofound’s head of information and communication, Mary McCaughey, its senior research manager, Agnès Parent-Thirion, and research manager, Jorge Cabrita, explore the findings from the recently published European Working Conditions Telephone Survey (EWCTS) in an #AskTheExpert webinar. This survey of more than 70,000 workers in 36 European countries provides a wide-ranging picture of job quality across countries, occupations, sectors and age groups and by gender in the context of the Covid-19 pandemic. It confirms persistent gender segregation in sectors, occupations and workplaces, indicating that we are a long way from the goals of equal opportunities for women and men at work and equal access to key decision-making positions in the workplace.


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The macroeconomic effects of re-applying the EU fiscal rules

Against the background of the European Commission's reform plans for the Stability and Growth Pact (SGP), this policy brief uses the macroeconometric multi-country model NiGEM to simulate the macroeconomic implications of the most relevant reform options from 2024 onwards. Next to a return to the existing and unreformed rules, the most prominent options include an expenditure rule linked to a debt anchor.

Our results for the euro area and its four biggest economies—France, Italy, Germany and Spain—indicate that returning to the rules of the SGP would lead to severe cuts in public spending, particularly if the SGP rules were interpreted as in the past. A more flexible interpretation would only somewhat ease the fiscal-adjustment burden. An expenditure rule along the lines of the European Fiscal Board would, however, not necessarily alleviate that burden in and of itself.

Our simulations show great care must be taken to specify the expenditure rule, such that fiscal consolidation is achieved in a growth-friendly way. Raising the debt ceiling to 90 per cent of gross domestic product and applying less demanding fiscal adjustments, as proposed by the IMK, would go a long way.


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