Cover Image: Mission Economy

Mission Economy

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Member Reviews

Got this as a hardcopy and talked to great lengths about it with a friend. It's a thoughtprovoking read that brings SDG and business together in a way that feels beneficiary and not related to greenwashing.

I enjoyed reading it, but unfortunately, our assignment editor had given this to another author.

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Do NOT purchase this book!
First, before I retired I taught college-level courses in economics and Marina Mazzucato is a professor of economics at the University College of London.
When I begin to read an allegedly thoughtful book by an allegedly serious scholar and the words seem to suggest that what I am reading may not be worth the paper that it is printed on I immediately turn to the notes and examine the sources of authority that the author has cited. Much of "Mission Economy" is based upon Ms. Mazzucato's own body of work which is fine. She also cites a number of other serious authorities which is good But her theory contains many major gaps and Prof. Mazzucato fills these with roughly 40 newspaper and magazine citations which are almost always a very negative indication regarding the depth and gravitas of a book. Also, her major source of economic authority is John Kenneth Galbraith but his research is roughly 50 years old and is considered by many to be woefully out of date.
The main thrust of "Mission Economy" is that capitalism is in crisis and desparately needs to be revamped with an all hands on deck effort like the Apollo Mission during the 1960s. As proof of her imagined crisis she offers global warming, rising inequality, COVID 19, and several other fictious problems. As proof for her claim of rising inequality in the US she cites Piketty & Zucman (2014) and it is clear that she is totally unaware that Thomas Piketty recanted most (almost all?) of what he wrote in May 2015. (See: American Economic Review vol. 105, no. 5). Simply put Mazzcato's crisis of capitalism is not supported by any of the hard scientific findings or any of the real economic statistical data.
Her entire book is a slight of hand attempt to justify the redistribution of both wealth and income which those on the left have been pining for even since the French Revolution and its guillotine. Apparently, Prof. Mazzucato is unaware of the fact that worldwide everyday capitalism lifts 168,000 persons out of abject poverty. Or that inequality has been steadily converging in the US for the last 100 years and that the rest of the world has been only narrowing for the past 50 years. A crisis in capitalism -- my foot!
Now I will risk being labeled a sexist by pointing out that "Mission Economy" is solely a hysterical book that must have been composed when the author contracted a case of the vapors.

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