Tirole challenges the outdated view of economics as a ‘dismal science’, urging economists to embrace a broader civic role in tackling society’s biggest challenges – from climate change and economic inequality to digitalisation and financial crises. He explains how effective policy design relies on understanding incentives, asymmetric information, and the complementary roles of markets and state regulation. Drawing on real world examples like carbon pricing, labour reform, EU governance, and tech regulation, Tirole makes a passionate case for a ‘state with markets’ approach: use rigorous economic reasoning to design institutions that align private incentives with the collective interest, thereby advancing the common good.