Institute for Policy Research

Economic Policy: From Fixing Markets to Market Making

Mon Apr 27 16:46:00 BST 2015

IPR Public Lecture

Time: 5.15 - 7.00pm

Venue: Chancellors' Building 2.6

Speaker: Professor Mariana Mazzucato, R.M. Phillips Professor in the Economics of Innovation, Science Policy Research Unit (SPRU), University of Sussex

Audience: This lecture is free and open to all. Please register in advance via e-mail.


This lecture will focus on the relationship between the State and innovation-led growth. It will introduce the possibility of the State as market maker and market shaper, rather than just a market fixer (as taught in economic textbooks).

It will consider various implications of viewing the state in this more active role: 'directionality' of change; building explorative risk taking public organisations; evaluation of market making investments; socialising both risks and rewards of public investments so growth is not only smart but also (more) inclusive.

The lecture will build on Professor Mazzucato’s recent book The Entrepreneurial State: debunking private vs. public sector myths and on a recent report written for Innovate UK on A Mission Oriented Approach to Building the Entrepreneurial State.


Professor Mariana Mazzucato (PhD) holds the RM Phillips chair in the Economics of Innovation at the Science Policy Research Unit (SPRU) in the University of Sussex.

Her recent book The Entrepreneurial State: debunking private vs. public sector myths was on the 2013 Books of the Year list of the Financial Times. It focuses on the need to develop new frameworks to understand the role of the state in economic growth and how to enable rewards from innovation to be just as social as the risks taken.

She is winner of the New Statesman SPERI Prize in Political Economy and in 2013 the New Republic called her one of the '3 most important thinkers about innovation'. She advises policy makers around the world on innovation-led growth and is a member of the Scottish Government’s Council of Economic Advisors; a Commissioner for the World Economic Forum on the Economics of Innovation; and a permanent member of the European Commission’s expert group on Innovation for Growth (RISE).