“The Common Good Economy”: Economist Mariana Mazzucato on Failures of U.S. Capitalism

We speak with the influential Italian American economist Mariana Mazzucato, author of the new book The Common Good Economy: A New Compass. She argues the economic system is broken and that rather than intervening only after major failures, policymakers need to proactively shape markets to deliver on specific goals. “What we ended up doing was socializing the risks and privatizing the rewards,” Mazzucato says. Mazzucato teaches economics at University College London, where she leads the Institute for Innovation and Public Purpose. Her previous books include Mission Economy: A Moonshot Guide to Changing Capitalism and The Entrepreneurial State: Debunking Public vs. Private Sector Myths.

This content originally appeared on Democracy Now! Audio and was authored by Democracy Now!.