Mariana Mazzucato: Rethinking Capitalism | SKAGEN New Year Conference
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- Опубліковано 10 січ 2018
- Mariana Mazzucato is a professor of the Economics of innovation at the university of London. Her work is focused on the economics of innovation; finance and economic growth; and the role of the State in modern capitalism. She advises policy makers around the world on innovation-led growth and is currently a member of the Scottish Government’s Council of Economic Advisors. This talk is a preview for her 2018 book "The Value of Everything".
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Economic investigator Frank G Melbourne Australia is still watching this very informative content cheers Frank
Very interesting and informative.
She is very balanced and perceptive. What is more she expresses it extremely well.
Mariana Mazzucato is an endless recourse of word-salads. It is a niche in the market occupied by others too.
@@reasonerenlightened2456 Words are powerful though!
@@christod33 The ability to charm Carnival Attendees out of a few dollars is an attribute that does keep many Carnivals on the Road.
Fast talking people do tend to run out of breath before they run low on reasons to continue.
All Economists do tend to push the continued effort to use a Capital System of human interaction, to preserve their comfy status as the producers of income for themselves.
She appears to cling to an economic social system that clearly has exceeded it's limitations.
The appearance of the majority of Humans being unable to find sufficient income to justify their participation in this contemporary economic situation, presents the thought that they may just stop supporting the efforts of the Investor Class to continue a social system that clearly is not intended to support the majority of humans continued participation.
"Could be Bad." ...................Troy Tschudi
🌹🌹
Professor Mazzucato raises important issues, of course. However, she does not go deep enough into the systemic issues requiring significant change. The necessary insights are to be found in the study of the history of law and taxation. There are important hints in the writings of the great political economists of the 17th, 18th and 19th centuries. In particular, is their analysis of wealth production and distribution based on a clearly-separated three-factor model. From Richard Cantillon through Henry George these analysts recognized that nature (i.e., the factor of production they referred to as "land") is not a capital good; rather, nature is the source of capital goods. At least a few economists carried their analysis forward to conclude that the price mechanism does not clear markets for nature as price does for the markets for labor, capital goods and even credit. Thus, we can read top land and natural resource economists (e.g., Mason Gaffney, emeritus professor at the University of California) making the same arguments for taxing the rent of land as were made by Henry George. Professor Mazzucato's one related comment referred to the potential value of carbon taxation.
Mariana Mazzucato is an endless recourse of word-salads. It is a niche in the market occupied by others too.
I wonder, though whether many economists, realising the fundamental difference of Land (it's not the same as capital) have kind of given up on the notion of taxing it (location) due to the political impossibility of the land tax? Mazzucato's colleague, Josh Ryan Collins is fully conversant with this thinking. Martin Wolf too.
@@christod33 No doubt this is the case with those economists who have no desire to engage in arguments with politicians or other members of the discipline. Some degree of courage is required. Progressive taxation was at one time the best that could be accomplished. With the rise of the Reagan-Thatcher policy agenda, even progressive taxation has been vigorously challenged politically, so that national governments are today faced with mounting public debt even as there is strong segment resistance to any reductions in entitlements or military spending.
@@nthperson I absolutely agree with everything you say. But Martin Wolf is an example of someone who has a great deal of intellectual weight and has been speaking out tirelessly. He does not like to labour any point too much. I am surprised that so few other journalists have taken him up.
@@christod33 I am one of several hosts for an interview program of the Henry George School in New York. Martin Wolf was to be a guest this month but had to postpone due to personal issues. I hope to eventually be able to interview him to find out how fully he understands the dynamics of land markets and of taxation on economic output and the distribution of income and wealth.
FUNNY that when I listen to Mazzucato I think of a WAR TIME ECONOMY. WE can have an economy that is just as effective as it could be when there was a war when int today society there is no war.
She My girl
27:55 We need tax policy to tax buy back with Corporate Income Tax.
She uses the phrase "tax payers money" so she ignores or doesn't understand Modern Monetary Theory.
at the end you can replace "tax payers money" with "society capital & effort"
Mariana Mazzucato is an endless recourse of word-salads. It is a niche in the market occupied by others too.
@@reasonerenlightened2456 Your use of the phrase 'word-salad' is evidently a tool of scepticism. Another word-salad.
You have your facts about where money comes from wrong and you have misssed the relevant facts entirely.
It is not the government's money because government does not create the money. The government does not earn it by doing work to get it so it taxes others or borrows than taxes to pay back the borrowing.
The system of money today is fiat credit money. The reserve bank (e.g. Federal Reserve in the US) and private banks create all of the money in the economy and the government has to borrow it or tax the private sector to get to use it.
Most money is created by private banks when they lend to borrowers. The government then taxes it to get hold of it.
@@Rob-fx2dw The main function of money is to represent the perceived Value if things. If things are destroyed/exhausted/consumed then money must be destroyed, if things are created then money must be created to represent their value.
Creating money based on the belief that the future would have more things of value is a gamble, especially knowing that the free market concentrates Wealth/Value in the hands of fewer and fewer individuals/Institutions, meaning, that it is more likely ,in the future, new value not to be created fast enough to justify the printing of the money in the past.
Not even two minutes into the lecture and she pulls out her sexist card.
You must of been triggered by that. That was literally thirty seconds of the lecture.
@@JavierEzln94 It is indicative of the poorly thout out lecture which is mostly an emotionally driven desire for more power for policticians.
@@Rob-fx2dw you seemed to have an emotional reaction to it. Respectfully, you may not have agreed with her assessment but it was by no means an emotional response. It was her assessment in how we may want to take in making adjustments to our economic system. It may not stick to free-market fanaticism and it may be overly dependent on the functionality of government bureaucracy. But it’s not an emotional response that’s an oversimplification.
@@JavierEzln94 Her video is devoid of actual verifiable facts. So what is it ? Her statement that the market sometimes goes wrong and the government has to step in is not true but is interpreted as going wrong and that is largely because government interventions cause markets to act in unusual ways. Evidence is the great depression where the Fed and government had gained more power over money creation and finances than ever before and created the biggest longest depression and the GFC where government intervened in markets and created a situation where sub prime mortgages were created. Without that intervention there were no sub prime mortgages.
Step in with what ? With no wealth but more debt ! Some help that is !
Essentially governments do not fix markets because they have no wealth to do so. They have power to takes to take wealth which they do.
@@Rob-fx2dw Rob, you critique her for not having "verifiable facts" and yet all you supply here is a bunch of grammatically incorrect whining. Look in the mirror. If you're complaining like this, you're probably part of the problem.
She needs to rethink her own thinking and realize she is sprouting wishful thinking that lacks critical understanding.
That's why we need to learn more about the world we want to live in or do you believe the following will NEVER change? 'Shepherds change but sheep remain sheep'
@@carlpizzo9987 There must be plenty of 'Sheeple' out there if she has followers who believe her.
@@Rob-fx2dw sounds like she has some good ideas - When the very wealthy make investment losses it's subsidized by Taxpayers however when profits pile up it's not going to the taxpayers. Do you think that's fair?
@@carlpizzo9987 You are wrong about the wealth making investment losses being subsidized by taxpayers. It is totally wrong to claim that. Costs are incurred in any investment be it government or other and they are taken out before any profit occurs Not After.
Losses are no more than the cost of production. Nobody gets a subsidy for making a loss. You are confusing costs with rebates of tax.
Taxes are paid on profits. There is No return of tax when losses occur since there is no profit from the loss.
@@Rob-fx2dw Rob dear, you sound defensive.
You cant rethink capitalism, you should stop it. End this exploitative system
Mariana Mazzucato is an endless recourse of word-salads. It is a niche market occupied by others too.