The Crisis of Modern Day Capitalism

09/07/2023 14:25
The Crisis of Modern Day Capitalism

Economist Mariana Mazzucato says sacrificing regulation in the name of growth is a mistake, and that state investment is the real driver of innovation.

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Capitalism as we know it isn’t really working, according to economist and author Mariana Mazzucato. Take the current concrete crisis across UK schools. For Mazzucato, that’s a case of too little being spent on the school buildings themselves. But there’s another problem: lax regulation. If we continue to weaken the rules in the name of a stronger economy, she says, we risk tragedy.

“You need to invest. You also need to regulate,” Mazzucato warns. “You can’t just say build more houses if then those houses are with really bad cladding.”

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