Ariel L. Wirkierman, Tommaso Ciarli and Mariana Mazzucato

Author Archive | Ariel L. Wirkierman, Tommaso Ciarli and Mariana Mazzucato


An evolutionary agent-based model of innovation and the risk-reward nexus

The present paper studies the relative roles of public and private agents in the innovation process and their rewards. Building on an evolutionary framework, we account for the generation of skills as an endogenous process in innovation development, in which different agents contribute to value generation, but some are able to extract value more than […]

Continue Reading

Putting Austerity to Bed: Technical progress, aggregate demand and the supermultiplier

This paper investigates the determinants of private investment and economic growth from a theoretical perspective. We start with a critical analysis of the crowding-out effect and we present a new version of the Sraffian Supermultiplier, i.e. a model that accounts for both the multiplier and accelerator effects. We show that aggregate demand influences output in […]

Continue Reading

Five Key Points for Italy’s Banking Woes

This is the English version of an article originally published by La Repubblica on August 8, 2016. There is serious concern about Italy’s banks and whether the bad debt they are carrying signals trouble for the Eurozone. In facing up to its troubled financial system Italy’s political leaders could also benefit from a moment of […]

Continue Reading

Financing Renewable Energy: Who Is Financing What and Why It Matters

Accelerating innovation in renewable energy (RE) requires not just more finance, but finance servicing the entire innovation landscape. Given that finance is not ‘neutral’, more information is required on the quality of finance that meets technology and innovation stage-specific financing needs for the commercialization of RE technologies. We investigate the relationship between different financial actors […]

Continue Reading

A State-Powered Green Revolution

LONDON – 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 […]

Continue Reading

Toward a Green New Deal

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 […]

Continue Reading

Non lasciamo solo ai privati la green economy

L’impegno della Silicon Valley per la promozione delle energie pulite è ammirevole. Così come l’accordo di Parigi. Ma non bastano. Per una rivoluzione a basse emissioni, è necessario che settore pubblico e privato si adoperino più a fondo per l’innovazione verde, con politiche orientate all’offerta e alla domanda

Continue Reading