Mariana Mazzucato

Author Archive | Mariana Mazzucato

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 […]

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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 […]

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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 […]

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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 […]

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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

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From Market Fixing to Market-Creating: a new framework for economic policy

Many countries are pursuing innovation-led ‘smart’ growth, which requires certain types of long-run strategic investments. This paper argues that such investments require public policies that aim to create markets, rather than just ‘fixing’ market failures (or system failures). Such ‘mission-oriented’ investments have led to men walking on the moon (which created spillovers across the economy) […]

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The Rise of Mission-Oriented State Investment Banks: the Cases of Germany’s KfW and Brazil’s BNDES

This paper focuses on the rise of state investment banks (SIBs) as lead funders of mission-oriented innovation in various countries’ agendas regarding smart (innovation-led) growth, and not just fixers of ‘market failures’. The market failure justification for public finance fails to capture the active mission-oriented role that such banks are playing in shaping and creating […]

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