Mariana Mazzucato Quotes & Sayings

The actual division of labor must be reflected in the division of the rewards (and prices, which is the way the consumer gets rewarded). — Mariana Mazzucato

Although there is much talk about small firms creating jobs, and increasingly a focus of policymakers, this is mainly a myth. — Mariana Mazzucato

The globalized nature of production and innovation means that the benefits don't necessarily stay in the country where the investments are made. — Mariana Mazzucato

Once we admit that the public sector takes an immense amount of risk along the entire innovation chain, it becomes crucial to find ways to share both risks and rewards. — Mariana Mazzucato

I often use the iPhone as an example of how governments shape markets, because what makes the iPhone 'smart' and not stupid is what you can do with it. And yes, everything you can do with an iPhone was government-funded. From the Internet that allows you to surf the Web, to GPS that lets you use Google Maps, to touchscreen display and even the SIRI voice activated system - all of these things were funded by Uncle Sam through the Defense Advanced Research Projects Agency (DARPA), NASA, the Navy, and even the CIA. — Mariana Mazzucato

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. — 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. — Mariana Mazzucato

Most venture capital funds are too short-termist and exit-driven to deal with the highly uncertain and lengthy innovation process. — Mariana Mazzucato