26 Jul 2016

Rethinking Capitalism edited by Mariana Mazzucato

Rethinking Capitalism: Economics and Policy for Sustainable and Inclusive Growth, co-edited by Mariana Mazzucato and Michael Jacobs, (published by Wiley / Political Quarterly, 2016) is another recommendation from Friend RNP, reviewed here on marianamazzucato.com:

Western capitalism is in crisis. For decades investment has been falling, living standards have stagnated or declined, and inequality has risen dramatically. Economic policy has neither reformed the financial system nor restored stable growth. Climate change meanwhile poses increasing risks to future prosperity.
In Rethinking Capitalism: Economics and Policy for Sustainable and Inclusive Growth, co-edited by Mariana Mazzucato and Michael Jacobs, (published by Wiley / Political Quarterly, 2016) some of the world’s leading economists propose new ways of thinking about capitalism. The contributors include Nobel Prize winning economist Joseph Stiglitz, Chief Economist of the Bank of England Andy Haldane, Professor William Lazonick, Professor Carlota Perez, Mazzucato and many others.
"Sustainable growth" is in the title, while in Chapter 1, available online, there are over ten references to "sustainable growth" but no explanation of what it is. (Maybe that comes later.)

I rarely bother with economists who talk about sustainable growth because it is a contradiction in terms. As economist and Quaker,  Kenneth Boulding, once said:
"Anyone who believes exponential growth can go on forever in a finite world is either a madman or an economist." 

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