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Quote by Mariana Mazzucato

“Growth in productivity has diverged from growth in the share that working people can expect right across advanced economies, but this trend started earlier and has been more pronounced in the U.S.”

Quote by Mariana Mazzucato

Author

Mariana Mazzucato

Mariana Mazzucato is an author specializing in economics and innovation. Born on June 16, 1968, she has made notable contributions to the field of economics, focusing on the state's role in economic development and the significance of innovation. more

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“Real median household incomes in the U.S. were basically the same in 1989 as in 2014. But we are also seeing similar challenges in the U.K. in the stagnation of real wages.”

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“People work hard and companies make big profits, but employees don't see that they share in the wealth they help to create.”

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“It would be a mistake to overstate the similarities between the Brexit vote and Trump's win - but there are common themes, not least in the rallying cries that the winning campaigns used. They focused on a supposed economic threat posed by outsiders, as immigrants or as trade partners. This fuelling of anxieties underpinned a narrative centered on the need to "regain control," whether of borders or of economic forces.”

“Unfortunately, simplistic framing of problems leads to simplistic answers.”

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Author:Mariana Mazzucato

“Another similarity of Brexit and Trump's campaigns was an attack on so-called elites. This is not so much a failure of capitalism as of its high priests in the economic profession, for which we must all take some responsibility.”

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Author:Mariana Mazzucato

“If we look at the complexity of the challenges facing western societies today, we see that the problems are not really about outsiders, but have their roots much closer to home.”

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Author:Mariana Mazzucato

“Our current model of capitalism and the dominant ideas in policy making have led to a failure of investment by both the public and the private sector in the things that drive productivity, and which affect its distribution.”

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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.”

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Author:Mariana Mazzucato

“Companies prefer to put money in the pockets of shareholders or to hoard cash rather than to raise wages or invest.”

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“Mainstream economic theories popular in the last several decades have tended to downplay the government's role in markets and to increase skepticism about even that more limited role. Austerity, particularly in Europe, has added to the problem. It has not worked, even on its own terms.”

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Author:Mariana Mazzucato