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The Risk-Reward Nexus
Author: William Lazonick & Mariana Mazzucato
Date:26 November 2012
This paper offers a new perspective on why 'smart' innovation-led growth has not led to 'inclusive growth'. It argues that there is a disproportionate balance between the 'collective' distribution of risk taking in the innovation process (e.g. 'open innovation'), and the increasingly narrow distribution of the rewards.
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Rebalancing What?
Author: Mariana Mazzucato
Date:24 June 2012
Much of the current discussion about ‘rebalancing’ revolves around the need to reduce the size of the financial sector in favour of industrial policies that would help revive manufacturing. However, rebalancing also requires changing the dysfunctional influence that finance has had on indicators of economic performance in all sectors, including manufacturing.
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