To explain this

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.

16 thoughts on “To explain this”

  1. “there are people out there who say that public choice economics isn’t true”: really? I had assumed that anyone intelligent enough to take an interest in public choice economics would be intelligent enough to see that of course it’s true. Human nature, innit?

    The basic principle of public choice economics was surely widely appreciated long before it emerged as an academic discipline, though. Surely?

  2. I’d like to know how she thinks the public sector can do these things. Like Richie, she knows sweet FA about public sector other than (like Richie) ‘from talking to people’.

    If the public sector already attracted innovative people, they wouldn’t need her to tell them to do innovation. They’d already be doing it.

    Given the sector currently doesnt attract innovative people, why would innovative people want to move from where they are now, to a world of pay grades and job evaluation tool kits and centralised guidance from spotty graduates in London?

    And why would the existing people they replace go quietly?

    Like Richie, I am not sure she can answer these, or even understand the issue.

  3. ‘The dominant economic system of our time is under attack.’

    By her and Quartz and their fellow travelers.

    ‘A decade after the financial crisis, capitalism is held responsible for a variety of major societal ills’

    By her and Quartz and their fellow travelers.

    ‘including wealth inequality and climate change.’

    Phony issues. Invented to get the people to accept socialism.

    ‘There have always been critics of capitalism, but there is now a sense that the displeasure is spreading.’

    By her and Quartz and their fellow travelers.

    ‘Young Americans increasingly say they prefer some type of socialism to capitalism.’

    Indoctrination in government schools is succeeding.

    ‘Mazzucato’s plan that would remodel capitalism relies, in some ways, on making old ideas new again, inspired by the theories of long-dead economists like Karl Marx.’

    FIFY

    Capitalism is free enterprise. She is going to remodel free enterprise to what, and it still be free enterprise?

    ‘She wants to foster a debate about value theory, a now obscure bit of economics that she argues died away in the late 19th century with the rise of neoclassical economics.’

    Labor theory of value, no doubt.

    The Left says ‘debate’ because you care. They don’t. They have no interest in what you have to say, whatsoever. You will accept what the Politburo says. Trying to debate will get you re-educated.

    ‘In the US, she has the ear of Congresswoman Alexandria Ocasio-Cortez and presidential hopeful Elizabeth Warren.’

    Known socialists.

    ‘on a mission to save capitalism from itself’

    They are on a mission to destroy it. They know they will get further if they say they are trying to save it. Unfortunately, many people will believe this Big Lie.

  4. I hope the hack who wrote this left his/her recorder on the table before climbing up her arsehole.

    While socialism might be in vogue—surely helped by Ocasio-Cortez’s membership to the Democratic Socialists of America—Mazzucato has little interest in debates over terminology. “I don’t think these words are helpful,” she said

    No one mention socialism! i mentioned it once, but I think I got away with it…

  5. Clearly she spends a lot of time flying around the world getting smoke blown up her arse, and that’s not surprising considering she spends her time telling governments they need to take more money and power away from their beleaguered populations.

    I imagine when she was talking to the porridge wogs about a national investment bank they were mentally designing that extension…

    While capitalism has lifted hundreds of millions of people out of poverty and spurred life-changing technology, it has also been reliant on the burning of fossil fuels, and some argue that inequality isn’t a faulty outcome but a fundamental feature of the system.

    Fuck off. Fuck off and die in a fire.

    Which incidentally is my response to pretty much all of the article, apart from the news (to me) that Fauxcahontas is campaigning on a platform she calls “economic patriotism.” Sounds a bit familiar…

  6. ‘She wants to foster a debate about value theory, a now obscure bit of economics that she argues died away in the late 19th century with the rise of neoclassical economics.’

    Dear God no, really? That is fucking hilarious.

    While capitalism has lifted hundreds of millions of people out of poverty and spurred life-changing technology, it has also been reliant on the burning of fossil fuels

    Interesting slip-up there.

  7. “While capitalism has lifted hundreds of millions of people out of poverty and spurred life-changing technology, it has also been reliant on the burning of fossil fuels”

    And communism wasn’t?

    Of course, communism just burnt lots of fossil fuel to produce goods based on the state targets which were then piled up. The state in general is terrible with fossil fuel use. Look at all those little-used Millenium museums and Olympic stadia around the world? Meanwhile, Disneyland Paris has had millions of visitors for all the energy used to make fairytale castles.

  8. Dennis the Peasant

    Mariana Mazzucato is a perfect example of why so many people do not take economists (as opposed to economics) seriously.

    That she has the ear of Pocahontas and Occasional Cortex tells you everything you need to know about the value of her ideas.

    Just another statist shilling for the state.

  9. Dennis the Peasant

    “While capitalism has lifted hundreds of millions of people out of poverty and spurred life-changing technology, it has also been reliant on the burning of fossil fuels”

    And communism wasn’t?

    Chernobyl worked out well, didn’t it?

  10. ‘her “mission-oriented” approach to public policy…. inspired Scotland’s government to set up a national investment bank.’

    I nearly fell off my chair reading this – how the buggery can Scotland afford to fund this? As for Mazzacuto, she has been very effective (so I hear) in implementing her ideas in Caracas, Pyongyang and Harare, with deleterious consequences for those affected by them.

  11. “Dennis the Peasant

    Chernobyl worked out well, didn’t it?”

    No-one died at Chernobyl. Three people were slightly alarmed and the power was off for 2 minutes. Tractor production is now seven times higher than pre-Chernobyl days.

    The rest is decadent capitalist lies.

    Does anyone know anyone who wants to buy 90,000 3-horsepower tractors that can only move backwards?

  12. “communism just burnt lots of fossil fuel”

    Reminds me . . . if Hitler had told von Bock to STFU and make winter camp, “We’ll get Moscow next year,” and resisted his own stupid interests in St. Petersburg and Stalingrad, and gone straight for Baku, they’d be speaking German in Moscow today.

  13. @Andrew C

    Does anyone know anyone who wants to buy 90,000 3-horsepower tractors that can only move backwards?

    Corbyn, Labour, SNP

    and

    EU – they miss their butter mountains

  14. Communism burned far more fossil fuel per head than capitalism. Ukraine has reduced its CO2 emissions by SEVENTY-FIVE % since the fall of the Berlin Wall. Communist China is responsible for over 28% of world CO2 emissions. Communist Vietnam with 58% of the population of Bangladesh produces 237% as much CO2.
    Communism is responsible for global warming because the Labour Theory of Value ignores all nature, not just resource values.

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