Mariana Mazzucato — Why Economic Recovery Requires Rethinking Capitalism

If future growth is to take a different path, it will require more than the usual mantra about taking advantage of low interest rates to fund infrastructure. Instead, we need to rethink the fundamental precepts that govern our understanding of how and why capitalist economies grow—both in terms of the ‘rate’ and the ‘direction’ of change. Key to this is a better understanding of what drives business investment, and the effect that public investment can have—not just ‘crowding-in’ investments that businesses may already have been considering, but actively stimulating the desire to make new investments they hadn’t yet considered. It is this ability of bold, strategic public investments to rouse what Keynes called the ‘animal spirits’ of business investors that is key.…

The good society is based on a public-private partnership.

INET
Why Economic Recovery Requires Rethinking Capitalism

Mariana Mazzucato | RM Phillips chair in the Economics of Innovation at SPRU in the University of Sussex

Alan Nasser — The Economics of Over-Ripe Capitalism

Must-read for creating "the new meme" and the narrative in which it is embedded. And, yes, it is in Keynes. Nothing new to invent.

CounterPunch
The Economics of Over-Ripe Capitalism
Alan Nasser | Professor emeritus of Political Economy and Philosophy at The Evergreen State College. This article is adapted from his book, The “New Normal”: Persistent Austerity, Declining Democracy and the Globalization of Resistance, to be published by Pluto Press later this year or early next.
(h/t Kevin Fathi via email)