Who is Prof. Mariana Mazzucato?

The economist who convinced governments worldwide that they're not just market referees, but active players capable of driving innovation and shaping economic outcomes for collective benefit.

Prof. Mazzucato's groundbreaking research revealed that many of the technologies we consider privately invented, from the internet to touchscreen displays, actually originated from bold government investment and risk-taking. Her work with organisations like the European Union, World Health Organization, and various national governments has fundamentally shifted policy thinking from reactive market correction to proactive value creation.

"We need to move away from the idea that the state just fixes market failures to the idea that the state actively shapes and creates markets," she argues, challenging decades of economic orthodoxy that relegated government to a passive role.

Her approach matters because it reframes how we think about public-private partnerships, innovation funding, and economic policy. Rather than accepting that governments should step back and let markets lead, Mazzucato demonstrates how strategic state involvement can drive the kind of systemic change needed for challenges like climate action, digital transformation, and inclusive growth.

Prof. Mazzucato is Professor in the Economics of Innovation and Public Value at University College London (UCL) and founding director of the UCL Institute for Innovation and Public Purpose (IIPP).

What could change if private enterprise and government investment was an essential partnership in creating shared prosperity?