“Government support is not only investing in upstream areas like basic research, but also in downstream areas like applied research and early-stage financing for the companies themselves. This means there are great risks.” MeanGovernmentCompanySupportRiskStageResearchAreasInvestingFinancingGreat RiskBasic Research Author:Mariana Mazzucato
“It's important that public funds be spent in research directions that are pushing market frontiers rather than working in existing areas. This means funding research not only on drugs but also on areas like life-style changes, even if the profit potential is lower for Big Pharma as you cannot sell that change as you can sell a medicine.” IfsMeanImportantBigsStyleDrugResearchAreasSellsMedicineProfitFundPushingFrontiersFundingLife Style Author:Mariana Mazzucato
“Shareholder value theory - the destructive idea that companies should be run solely for the benefit of shareholders - has led to financialized businesses that do not invest in the areas that will lead to future growth or the invention of useful new products.” ShouldIdeasRunningValuesGrowthCompanyProductsTheoryBenefitsAreasInventionDestructiveShareholdersNew ProductsFuture GrowthShareholder Value Author:Mariana Mazzucato
“Green is not just about renewable energy. It's also about creating a new direction for the whole economy. This requires government to step up, not step back, creating the kinds of mission-oriented public organizations that will enable us to tackle climate change - as ambitious as those that got us to the moon. It also requires the financial sector to be less short-term since we know that short-term finance has distorted incentives and directions in areas like biotechnology.” KnowsKindWholeGovernmentEnergyTermStepsEconomyMoonCreatingAreasOrganizationGreenClimateClimate ChangeFinancialMissionsFinanceAmbitiousIncentivesShort TermStep UpRenewable EnergyNew DirectionsBiotechnology Author:Mariana Mazzucato
