Mariana Mazzucato: Rethinking Capitalism
The first session from the 2016 Festival of Economics in Bristol was a presentation by Prof Mazzucato from the University of Sussex.
- Rethinking capitalism - @MazzucatoM speaking @FestivalofIdeas #economicsfest tonight 15 Nov #Bristol: http://ow.ly/peuX3066qHl
- New ways of thinking about capitalism, @MazzucatoM speaking @FestivalofIdeas #economicsfest: http://www.ideasfestival.co.uk/events/mariana-mazzucato/ …
- .@MazzucatoM : economics has taken a simplified, static approach to studying a complex, varied, dynamic system #economicsfest
- .@MazzucatoM Myth that 2008 crisis came from public debt. Instead: private debt, debt-driven consumption & lack of investment #economicsfest
- Mazzucato: before crash, profits were at record levels, but "financialised" eg used in share buyouts, rather than invested. #economicsfest
- Mazzucato: economic growth has direction as well as rate. Direction affects our reaction to big problems like climate change. #economicsfest
- Mazzucato: "free" markets are shaped by cultural & institutional factors eg worker relations, that vary around world. #economicsfest
- Mazzucato: The economics discipline has an amnesia: students don't read theories of value more than a few decades old. #economicsfest
- Mazzucato: Venture capital works only on short time scale. Big advances in productivity - IT, biotech - are enabled by policy #economicsfest
- Mazzucato: Negativity about role of the State weakens state institutions by discouraging the most talented job applicants. #economicsfest
- Mazzucato: Brexit & Trump movements blame foreigners & trade for inequality. Real causes close to home: corporate, tax policy #economicsfest
- Mazzucato criticises curriculum division between "economics" & "history of economic thought": prefers "alternative theories". #economicsfest
- We *did* cover a lot of ground with Mariana but not this much! #economicsfest https://twitter.com/mazzucatom/status/798661861025742848 …