Mariana Mazzucato is a towering figure in contemporary economics, known best for her work on the entrepreneurial state and mission-oriented, ‘moonshot’ economics. Her congregation is broad, ranging from an ascendant Andy Burnham, to the Pope, to the organisers of Brazil’s carnival, and Marco Rubio on the right of US politics. Ash Sarkar sat down with Mariana Mazzucato in front of a live audience at EartH Theatre in Hackney, to test out the ideas in her new book, The Common Good Economy. Where did it all go wrong for Keir Starmer and Rachel Reeves, who adopted Mazzucato’s language of missions but were unable to deliver, and what can Burnham learn from their mistakes? How do we define the common good, and how should the private and public sectors work to achieve it? Why is the state so effective at achieving its goals in times of war, and so inept in times of peace? How do we balance the need for experimentation and freedom to fail, against the need for transparency, in the public sector? And should we spend our finite time trying to build a new and fundamentally different system, or is fixing capitalism actually the most radical goal for progressives? 00:00 Intro 04:14 What Can Andy Burnham Learn from Starmer’s Mistakes? 11:08 How Do We Define the Common Good? 13:40 Defining Good Without Religion 18:36 The Tools Governments Can Use to Fix Capitalism 24:30 The Chips Act: Building Coalitions with Republicans for the Common Good 29:56 The State Is Smart at War, Stupid at Everything Else 36:42 A Compass for Navigating the Next Decades 43:03 Balancing Accountability Against the Need for Innovation 49:12 Isn’t China Already Doing All This? 56:22 Q&A 56:56 Should We Fix Capitalism, or Design a New System? 1:02:54 How Can We Trust the State to Lead Economic Missions, Without Being Captured by Big Interests? Sign up for the Downstream Newsletter: https://novaramedia.com/newsletters/the-downstream-newsletter/ Support our work: http://novara.media/support Buy Novara Media merch: https://shop.novaramedia.com/

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