![]() ![]() She showed how this accounting of value rewards business activities that extract and destroy real-world value while undervaluing drivers of long-term and inclusive growth. In The Value of Everything (2018), Mazzucato took on one of the fundamental tenets of neoclassical economics: that market price is a good proxy for social value. ![]() Mazzucato argued that there is no substitute for visionary, mission-oriented government investment in creating pathbreaking new technologies and markets. In her book The Entrepreneurial State (2013), which focused on the United States, she compellingly illustrated the central role of federal government research and development investment, early-adopter procurement, and infrastructure construction in creating today’s fastest-growing industries. The economist Mariana Mazzucato may be the most eloquent contemporary exponent of the importance of dynamic, activist government for healthy capitalist economies. ![]()
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