Mariana Mazzucato speaks about the importance of the public sector in wealth creation
Professor of Economics at the University of Sussex
The state is often seen as facilitating the process of wealth creation, rather than being a key driver of the process itself. A better understanding of the role that the state has and can play in the wealth creation process is the starting point for policy solutions that can increase the rate of wealth creation, while reducing rent-seeking and ensuring a fairer distribution of that co-created wealth.
What is intangible wealth and what is its relation to TFP and future consumption? The panel discusses how to calculate residual capital, and what its relationship to tangible capital and economic growth is.