Review: Mariana Mazzucato's "The Common Good Economy" Examines Mission-Led Government and Labour's Challenges
By
Heather Stewart
A second-rack bagel that's nearly first-rack. Tasty stuff.
Summary
This article reviews Mariana Mazzucato's new book "The Common Good Economy," which examines how her concept of "mission-led government" influenced Keir Starmer's Labour government. The review synthesizes Mazzucato's argument that the economy should be reoriented around collective action and the common good, rather than being seen as a set of rapacious independent forces. It explores why Labour has struggled to project the sense of direction that mission-led governance requires, and critiques whether the book's ambitious proposals can realistically be implemented in practice.
Key quotes
· 3 pulledSynthesising and extending her earlier work, here she proposes 'a new economics of collective action around the common good.'
From this perspective, the economy is not a concatenation of rapacious independent forces, to be contained.
Two years on, her bracing new book helps shed light on why Labour in power has struggled to project the sense of direction that 'mission-led government', as Mazzucato calls it, requires.
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