Governing the economics of the common good: from correcting market failures to shaping collective goals
UCL Institute for Innovation and Public Purpose, Working Paper Series (IIPP WP 2023-08)
Mariana Mazzucato, ottobre 2023
Scaricare PDF (540 KiB)
Compendio :
To meet today’s grand challenges, economics requires an understanding of how common objectives may be collaboratively set and met. Tied to the assumption that the state can, at best, fix market failures and is always at risk of ‘capture’, economic theory has been unable to offer such a framework. To move beyond such limiting assumptions, the paper provides a renewed conception of the common good, going beyond the classic public good and commons approach, as a way of steering and shaping (rather than just fixing) the economy towards collective goals.