Public Purpose: Industrial Policy’s Comeback and Government’s Role in Shared Prosperity

By Mariana Mazzucato
Economic Change

This book argues that governments should not just fix market failures, but they should actively shape markets to serve public goals. Mazzucato and her co-authors make the case for a new kind of industrial policy, one that’s mission driven and focused on solving big challenges such as climate change, inequality, and weak innovation systems. They reject the old idea that only the private sector drives growth, showing how public investment and director can create long term value. The authors call for bold government action, not just regulation, but leadership in setting goals, investing in innovation, and making sure the benefits of growth are widely shared. It is a push to put public purpose at the heart of economic strategy.

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