Creating a new framework to understand and recognise where value is really created in economies, and where value is being extracted.
About
In standard economic theory, public policy is justified only if clear market failures are first identified. In this context ‘public goods’ (non-rival, non-excludable activities like clean air, or national defence) are corrections that are made to fix the existence of ‘positive and negative externalities’, such as pollution. While such market failures exist—and need fixing—in this research area, we study whether a broader concept is needed to guide more ambitious policies, similar to those that led to the creation of the welfare state and the mission to put a man on the moon.
Policy implications
IIPP aims to create a new framework for public policy grounded in concepts of public value and public purpose—and the implications of such value creation for production and growth.Ìý
Our work will involve research, the development of new concepts and learning, and the generation of insights into how we might build capacity within the public sector to adapt to new ways of working, influenced by these ideas.Ìý
Projects
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Publications
- Working papers
- When homes earn more than jobs: the rentierization of the Australian housing market, Josh Ryan-Collins, Cameron Murray
- Theorising and mapping modern economic rents, Mariana Mazzucato, Josh Ryan-Collins,ÌýGiorgos Gouzoulis
- Socialising the risks and rewards of public investments: Economic, policy and legal issues, Andrea Laplane andÌýMariana Mazzucato
- Putting value creation back into 'public value': from market-fixing to market-shaping, Mariana Mazzucato andÌýJosh Ryan-Collins
- The economics of change: Policy and appraisal for missions, market shaping and public purpose, Rainer Kattel, Mariana Mazzucato, Josh Ryan-Collins andÌýSimon Sharpe
- COVID-19 and public-sector capacity,ÌýMariana Mazzucato,ÌýRainer Kattel
- Public value and platform governance,ÌýMariana Mazzucato,ÌýJosh Entsminger, Rainer Kattel
- Policy
- Creating and measuring dynamic public value at the BBC,ÌýMariana Mazzucato,ÌýRowan Conway,ÌýEleonora Maria Mazzoli,ÌýEva Knoll andÌýSarah AlbalaÌý
- Getting serious about value, Mariana Mazzucato andÌýRainer Kattel
- The economics of change: Policy appraisal for missions, market shaping and public purpose, Rainer Kattel, Mariana Mazzucato, Josh Ryan-Collins andÌýSimon SharpeÌý
- Articles
- ,ÌýMariana Mazzucato andÌýJosh Ryan-Collins
- , June SekeraÌý
- , Mariana MazzucatoÌý
- Books
- , Mariana MazzucatoÌý
- , June SekeraÌý
News and events
FundersÌý
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