The Biggest Lie about Capitalism | Mariana Mazzucato interview
About this episode
Mariana Mazzucato discusses her views on capitalism and public investment in innovation.
In this episode, we sit down with renowned economist, author, and founder of the UCL Institute for Innovation & Public Purpose, Professor Mariana Mazzucato, to discuss her new book The Common Good Economy: A New Compass, and why she believes modern capitalism is failing to deliver for ordinary people. From Palantir's NHS contracts and the future of AI governance to Thames Water, steel, industrial strategy, and the green transition, Mariana argues that governments have lost confidence in shaping markets around public purpose. Instead, she says, we've created an economy that too often socialises risk while privatising reward. We explore why governments fund many of the world's biggest innovations, from the internet and AI to Tesla and SpaceX, yet rarely share in the rewards when those investments succeed. Mariana explains how public investment helped create some of today's most valuable companies, why she believes Britain's relationship with business has become increasingly "parasitic", and what a more mission-driven economy could look like. The conversation also covers Labour's economic strategy, Keir Starmer's mission-led government, the future of industrial policy…
People in this episode
Guest: Mariana Mazzucato
Topics covered
- capitalism
- public investment
- innovation
- industrial policy
- regulation
- economic strategy
Keywords
- capitalism
- public purpose
- innovation
- regulation
- economic strategy
- industrial policy
- AI governance
Mentioned in this episode
Organizations: UCL Institute for Innovation & Public Purpose, Palantir, NHS, Tesla, SpaceX, Labour
Places: Britain
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