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.

  1. .@MazzucatoM : economics has taken a simplified, static approach to studying a complex, varied, dynamic system #economicsfest
  2. .@MazzucatoM Myth that 2008 crisis came from public debt. Instead: private debt, debt-driven consumption & lack of investment #economicsfest
  3. at yet another #bfoi event - today: Mariana Mazzucato opens the festival of economics https://t.co/Vw3aAFRhOf
    at yet another #bfoi event - today: Mariana Mazzucato opens the festival of economics pic.twitter.com/Vw3aAFRhOf
  4. Mazzucato: before crash, profits were at record levels, but "financialised" eg used in share buyouts, rather than invested. #economicsfest
  5. Mazzucato: economic growth has direction as well as rate. Direction affects our reaction to big problems like climate change. #economicsfest
  6. Mazzucato: "free" markets are shaped by cultural & institutional factors eg worker relations, that vary around world. #economicsfest
  7. Mazzucato: The economics discipline has an amnesia: students don't read theories of value more than a few decades old. #economicsfest
  8. Mazzucato: Venture capital works only on short time scale. Big advances in productivity - IT, biotech - are enabled by policy #economicsfest
  9. Mazzucato: Negativity about role of the State weakens state institutions by discouraging the most talented job applicants. #economicsfest
  10. Mazzucato: Brexit & Trump movements blame foreigners & trade for inequality. Real causes close to home: corporate, tax policy #economicsfest
  11. Mazzucato criticises curriculum division between "economics" & "history of economic thought": prefers "alternative theories". #economicsfest
  12. Got worried in elevator when I thought my #economicsfest talk had to cover a bit too much ground....@FestivalofIdeas https://t.co/7cl0cWgtZv
    Got worried in elevator when I thought my #economicsfest talk had to cover a bit too much ground....@FestivalofIdeas pic.twitter.com/7cl0cWgtZv