Description

The world-leading economist envisions a ‘common good compass’ to help navigate our economies in a radically different direction – one that works for everyone

Our economic system is broken. The climate crisis is accelerating. Inequality is deepening. Public trust is crumbling. Wealth concentrates in fewer hands while governments scramble to fix what markets can’t do, rather than to shape them from the outset.

For too long, economics has treated ‘the good’ – whether public goods or the commons – as merely correcting market or government failures. This economic framing traps us in an endless cycle of being reactive, patching problems rather than proactively building the economy we need.

In The Common Good Economy, Mariana Mazzucato builds on her visionary ideas of the entrepreneurial state and mission-oriented policies to establish a new theory of the common good, one which allows governments and businesses to develop purposeful economic relationships, creating value and building spaces where human flourishing can happen. She argues that how we achieve collective goals – through collective action, participation and reciprocity – matters as much as what those goals are. The book provides a practical ‘common good compass’ to help navigate our economies in a radically different direction.

Full of compelling real-world examples, from governing water to transforming procurement and finance, this is a rigorous reimagining of economics and a manifesto for a future economy that serves people and the planet. It could not be more timely.

Publisher Review

A must read — Thomas Piketty, author of A Brief History of Equality In a world increasingly characterized by pessimism and fear, this book provides a much-needed positive perspective on how economies can be shaped towards the common good. This is not a Utopian ideal: it is possible with the collective efforts of workers and civil society to re-orient economic governance in very specific ways. Once again, Mazzucato provides a vision and a road map to push us from passivity to action — Jayati Ghosh, Professor of Economics, University of Massachusetts Amherst