The Italian-American economist is more than just a theorist. Her faith in the ability of governments to create inclusive and sustainable prosperity has found a large and receptive global audience. In the US, she has the ear of Congresswoman Alexandria Ocasio-Cortez and presidential hopeful Elizabeth Warren. Across the Atlantic, her “mission-oriented” approach to public policy serves as the foundation of the European Union’s €100 billion ($112 billion) research and innovation program and inspired Scotland’s government to set up a national investment bank.
The European Union wanted to be told that EU finding of research and development was very important. Further, that the EU should take equity stakes in the users of that new tech in order to increase the funds the EU could use to spend to be the EU.
A certain Italian American economist was hired, on a grant, to investigate the manner in which government could and should increase technological development. The answer being that governmental type things like the EU should spend lots on basic research and development and then keep equity stakes in the tech that was developed.
The economist then went on to found an institute which gets money from…..
And there are people out there who say that public choice economics isn’t true.