Shooting for Unity in the Era of Chaos: A Review of Mission Economy by Mariana Mazzucato

Abstract

As multiple crises of unprecedented gravity loom, the immobility or incapacity of both the private sector and leading governments has become apparent. Keynes’ remarks on the Great Depression are still applicable in our days: “decadent international but individualistic capitalism. . . is not a success. . . But when we wonder what to put in its place, we are extremely perplexed” (Keynes 1933: 760-1). In "Mission Economy: A Moonshot Guide to Changing Capitalism," the expert on industrial policy Mariana Mazzucato helps alleviate this perplexity. Her solution is to abandon free market worship as well as conservative forms of public management in favor of bold risk-taking and innovative co-operation between markets and the public sector.