Laurence Crowley Lecture Series with Professor Mariana Mazzucato
- Date: Monday, November 11, 2019
- Time: 5:30 PM - 7:00 PM
- Venue: UCD Smurfit School
- Location: Carysfort Avenue, Blackrock, Co. Dublin
A Mission-Oriented Approach To Health Innovation
Many countries across the globe are pursuing growth policies that seek to be smarter, more inclusive and more sustainable. My intervention will argue that the types of long-run strategic investments which such growth requires, means public policy must be justified, nurtured and evaluated in a different way. Instead of policies being motivated purely in terms of ‘fixing’ market failures and/or ‘system failures', policies can be justified and measured in terms of their ability to create and shape markets—with markets as outcomes of the interaction between public, private and third sector actors. A market shaping process can benefit from understanding the lessons from the ‘mission oriented’ investments of the past aimed at technological and societal challenges—from putting a man on the moon—to those that are today tackling climate change. The talk will reflect on key questions which arise from mission oriented innovation and a recent report that I have written for the European Commission (1) how to envision the direction of change, tilting rather than levelling the playing field; (2) how to create public organizations that can welcome the underlying uncertainty and discovery process; (3) how to evaluate dynamic mission-oriented and market creation policies; and (4) concrete ways in which public and private can share both the risks and rewards underlying the innovation process—so that ‘smart’ innovation-led growth can also produce ‘inclusive’ growth.
|6.50pm||Q & A|
|7.00pm||Reception & Networking|
Mariana Mazzucato (PhD) is Professor in the Economics of Innovation and Public Value at University College London (UCL), where she is Founding Director of the UCL Institute for Innovation & Public Purpose (IIPP). IIPP is dedicated to rethinking the role of public policy in shaping both the rate of economic growth and its direction—and training the next generation of global leaders to build partnerships that can address mission-oriented societal goals.
She is winner of the 2014 New Statesman SPERI Prize in Political Economy, the 2015 Hans-Matthöfer-Preis, the 2018 Leontief Prize for Advancing the Frontiers of Economic Thought and the 2019 All European Academies Madame de Staël Prize for Cultural Values. She was named as one of the '3 most important thinkers about innovation' by the New Republic, and is on The Bloomberg 50 list of ‘Ones to Watch’ for 2019.
Her highly-acclaimed book The Entrepreneurial State: debunking public vs. private sector myths (2013) investigates the role of public organizations in playing the ‘investor of first resort’ role in the history of technological change. Her 2018 book The Value of Everything: making and taking in the global economy (2018) brings value theory back to the center of economics in order to reward value creation over value extraction. It was a 2018 Strategy & Business Book of the Year and was shortlisted for the 2018 Financial Times and McKinsey Business Book of the Year prize.
She advises policy makers around the world on innovation-led inclusive growth and is currently a member of the Scottish Government’s Council of Economic Advisors; the UN’s Committee for Development Policy (CDP), the Leadership Council of the Sustainable Development Solutions Network (SDSN), SITRA’s Advisory Panel in Finland, and Norway’s Research Council. She is currently a Special Advisor for the EC Commissioner for Research, Science and Innovation, Carlos Moedas, and is author of the high impact EC report on Mission-Oriented Research & Innovation in the European Union.