Economist Mariana Mazzucato is on a week-long tour of Australia touting the benefits of a “mission economy” – or how to do industrial policy differently.
| Treasurer Jim Chalmers will this week meet one of his favourite economists, Mariana Mazzucato, as she swings through Australia to tout her vision of how a beefed-up state can better harness the private sector to drive economic and social policy.
“Because the treasurer, Jim Chalmers, has cited my work on mission economy and the work I’ve been doing globally, there was that open door to come and to discuss with different people in government, what it actually means to have a mission economy – in terms of the design of policies, whether it’s industrial strategies, innovation policies, the design of institutions like public banks, or procurement,” she said.
The other observation she made about Australia was that this discussion quickly gets binary, cleaving to “this dichotomous view that it’s either top-down state or all bottom-up business”.“The critiques that people like Jim Chalmers have gotten by even citing me is, ‘oh, no, he’s gone down that kind of old industrial strategy route’.
She has advised left-leaning governments around the world, but in many countries the political momentum or narrative seems to favour the conservative side of politics. Does that frustrate or constrain her agenda?
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