she mentions Fraunhofer insitute... MP3 packaging format was developed by them but that was mentioned nowhere, yet US based record labels and whatever made nice business with it.... now we have spotify but then it was very US centric in europe. AFAIK that institute still works as backbone for modern video platforms by developing mpeg, and other video encoding,decoding formats.
Unfortunately choice is a luxury to the global north. Neo-colonialism means African countries aren't allowed to innovate and neither Europe nor the US will give up that power to extract wealth from those places anytime soon. The only way a developing country is allowed to innovate is if it's big enough and strong enough to resist bullying by the global north, best example of this is China. Many like to claim that China succeeded despite their powerful state but it's the opposite. China's strong state allowed it to protect it's own economy and innovate itself and use it's considerable bargaining power to get consessions that kept it from becoming an economic servant to the global north like what's happened with most of Africa. When they gained independence none of them had a state that was large and/or strong enough to resist bullying, sanctions and free market propaganda that kept them still in many ways subservient to their imperial overlords.
That is actually one of the main purposes of the EU. Since European countries are small they are vulnerable to American economic domination when they lost their empires. The EU created an economic block that could meet the US economic might on equal terms. This formation happened at the same time as neo-colonialism was establishing itself. So at the same time that Europe was bullying the African nations into economic dependency they were creating their own institutions to make sure it wouldn't happen to them.
So many tidbits and gems in this lecture+interview. Id like to hear more from viewpoint of italy, japan which many european leaders have bashed now as long as I can remember, yet when I look things for 20-30 year timespan or even what Ive listened and read lot of history about 100 years span, these things seem like ecosystem that good hubs shift to new places and old prosperity of some centric subject decay. Thus like economists say bust can be beautiful beginning of new companies, italy and japan could be places for something new(in case they really are in bad shape economically which I dont fully agree). Now germany is slowly decaying too.
Roger l marten top 50 managment thinker There litterally is no study that links executive pay in form of stock that actually shows it improves firm investment. He actually suggest we get rid of this for ceos and pay them a salary
I would say that, in order to have a real entrepreneurial state, you need a good background of state investments in the society: a big issue in Italy is that we don't have a proper ambience for entrepreneurs to set in (because of high taxes, sometimes low services compared to the prices and a MASSIVE bureaucracy that really doesn't stimulate creativity)
35:22 That wasn't the only effect it had. It also massively dumbed down wallstreet since it removed a lot of risk and let to a lot of the short term thinking and stupidity the place is known for today. With the taxes so low it removed any incentive for smart investment since making profit was so easy so wallstreet changed from careful investment and risk/reward analysis to a bunch of dudes who just throw money at any shiny projects. This has in turn let to a massive industry of fraud in Silicon valley and other places and it's a big part of what fueled the Crypto and NFT bubbles.
This whole presentation sums up why the Conservative Party in the UK today has lost sight of what markets are and how you can encourage growth. They are tinkering around the edges with fixed ideologies about tax, red tape and getting out of the way of business which is completely flawed thinking.
35:22 That wasn't the only effect it had. It also massively dumbed down wallstreet since it removed a lot of risk and let to a lot of the short term thinking and stupidity the place is known for today. With the taxes so low it removed any incentive for smart investment since making profit was so easy so wallstreet changed from careful investment and risk/reward analysis to a bunch of dudes who just throw money at any shiny projects. This has in turn let to a massive industry of fraud in Silicon valley and other places and it's a big part of what fueled the Crypto and NFT bubbles.
If the energy utility companies have "encouraged" home-owners to avoid them "at all costs" by taking up batteries and solar power, much the same effect can be seen taking place in the application of obviously needed innovations across the board. "S" curves and accompanying Wright's Law events in the economy are characteristic wave-forms of a breaking wave, implying that inevitable change is just going to happen anyway, against opposition and obstacles. A verifiable and indexed contract valuation of energy based exchanges is inevitable. The "just good enough" rule of successful Engineering is characteristic of real-time re-evolution, wave-package coordination circularity. An ecology it is and always will be, under careful management, because it's the functional phenomenon mechanism of time-timing sync-duration energy density-intensity distribution become predator-prey balance from the elemental driver of turbulence. "Big whorls have little whorls that feed on their velocity, and little whorls have lesser whorls, and so down to Viscosity". Parasitism is fundamental, and biology is all about energy balance optimisation. Ie good management.
Mazzucato says the market fails so 'the government has to intervene and fund that.' This is a introverted fallacy that government has some sort of wealth to start with. It has none . The reality is the fact that government has no wealth of it's own and has to tax to get control of wealth produced by the operations of the private sector to get it . The private sector does Not tax government but produces the goods and services that government uses to operate - something that Mazzucato ignores completely.
States (all western/developed states at least) can raise money outside of tax. They take on Debt to fund and bail-out the failures of private enterprise. This is how states bailed out financial institutions during the last crash, we (tax payers) took on huge debts to fund the failure of these companies. The private 'risk' was taken on by governments . Also, part of Mazzucato's argument in general is that 'value' is narrowly defined by economists and therefore only attached 'value' items within the market that can be priced. A wider value sits outside that and can be generated by governments and the public sector. States also fund private enterprise - pharma, technology, and also by giving tax cuts, beneficial treatment. And therefor create wealth and value.
@@brynlewis7175 The 'State' is not a living person. What you have done is attribute the abilities of a human person to a human construct. Your idea is the "State" can take on debt. No it can't because it can't pay of it's debt. Only living working people can pay off debt. All debts created by the "State" (i.e. created in the name of the State) such as a decision to legally create more money by borrowing from the reserve bank ultimately becomes the debt of living breathing people who are forced to pay for it. If the sate funded those enterprises you mentioned then it would not have to tax to get the funds and neither would it have to borrow to get the money.
@@brynlewis7175 You say "A wider value sits outside that and can be generated by governments and the public sector.". What is that value and how do you know?
Value is created by the mobilization of people and resources. Capitalists can do this but so can family groups, unions, churches and indeed governments. There is no divine right that gives capitalists the exclusive right to create value, especially since usually most of their value comes from government subsidies and they need the state to enforce their property rights. That you believe that government has no value itself doesn't make it so. It's a belief and one many people just don't agree with.
![Yeat & Quavo - 5BRAZY [Official Music Video]](http://i.ytimg.com/vi/4XxnTAwyxus/mqdefault.jpg)
she mentions Fraunhofer insitute... MP3 packaging format was developed by them but that was mentioned nowhere, yet US based record labels and whatever made nice business with it.... now we have spotify but then it was very US centric in europe. AFAIK that institute still works as backbone for modern video platforms by developing mpeg, and other video encoding,decoding formats.
This is what African Nations should do definitely
Unfortunately choice is a luxury to the global north. Neo-colonialism means African countries aren't allowed to innovate and neither Europe nor the US will give up that power to extract wealth from those places anytime soon. The only way a developing country is allowed to innovate is if it's big enough and strong enough to resist bullying by the global north, best example of this is China. Many like to claim that China succeeded despite their powerful state but it's the opposite. China's strong state allowed it to protect it's own economy and innovate itself and use it's considerable bargaining power to get consessions that kept it from becoming an economic servant to the global north like what's happened with most of Africa. When they gained independence none of them had a state that was large and/or strong enough to resist bullying, sanctions and free market propaganda that kept them still in many ways subservient to their imperial overlords.
That is actually one of the main purposes of the EU. Since European countries are small they are vulnerable to American economic domination when they lost their empires. The EU created an economic block that could meet the US economic might on equal terms. This formation happened at the same time as neo-colonialism was establishing itself. So at the same time that Europe was bullying the African nations into economic dependency they were creating their own institutions to make sure it wouldn't happen to them.
Karl Polyani - the Great Transformation!! Awesome book
So many tidbits and gems in this lecture+interview. Id like to hear more from viewpoint of italy, japan which many european leaders have bashed now as long as I can remember, yet when I look things for 20-30 year timespan or even what Ive listened and read lot of history about 100 years span, these things seem like ecosystem that good hubs shift to new places and old prosperity of some centric subject decay. Thus like economists say bust can be beautiful beginning of new companies, italy and japan could be places for something new(in case they really are in bad shape economically which I dont fully agree). Now germany is slowly decaying too.
Mariana Mazzucato is an endless recourse of word-salads. It is a niche in the market occupied by others too.
Roger l marten top 50 managment thinker
There litterally is no study that links executive pay in form of stock that actually shows it improves firm investment.
He actually suggest we get rid of this for ceos and pay them a salary
It dosent improve form performance , not investment.
I would say that, in order to have a real entrepreneurial state, you need a good background of state investments in the society: a big issue in Italy is that we don't have a proper ambience for entrepreneurs to set in (because of high taxes, sometimes low services compared to the prices and a MASSIVE bureaucracy that really doesn't stimulate creativity)
complicated taxes (Italy) are way worse then high taxes (Denmark)
anything which can not be said in 5 minutes is not worth listening to.
35:22
That wasn't the only effect it had. It also massively dumbed down wallstreet since it removed a lot of risk and let to a lot of the short term thinking and stupidity the place is known for today. With the taxes so low it removed any incentive for smart investment since making profit was so easy so wallstreet changed from careful investment and risk/reward analysis to a bunch of dudes who just throw money at any shiny projects. This has in turn let to a massive industry of fraud in Silicon valley and other places and it's a big part of what fueled the Crypto and NFT bubbles.
This whole presentation sums up why the Conservative Party in the UK today has lost sight of what markets are and how you can encourage growth. They are tinkering around the edges with fixed ideologies about tax, red tape and getting out of the way of business which is completely flawed thinking.
6:50 Start of the talk
When was this talk? I take it was not 2020?
10:19
king!
Wonderful speech
R&D tax credits dosent actually make research happen that wasn’t already going to happen.
the tax credits piggy back onto government funded research. See Lawrence Soley's book, Leasing the Ivory Tower: The Corporate Takeover of Academia
35:22
That wasn't the only effect it had. It also massively dumbed down wallstreet since it removed a lot of risk and let to a lot of the short term thinking and stupidity the place is known for today. With the taxes so low it removed any incentive for smart investment since making profit was so easy so wallstreet changed from careful investment and risk/reward analysis to a bunch of dudes who just throw money at any shiny projects. This has in turn let to a massive industry of fraud in Silicon valley and other places and it's a big part of what fueled the Crypto and NFT bubbles.
Nationalize apple
If the energy utility companies have "encouraged" home-owners to avoid them "at all costs" by taking up batteries and solar power, much the same effect can be seen taking place in the application of obviously needed innovations across the board.
"S" curves and accompanying Wright's Law events in the economy are characteristic wave-forms of a breaking wave, implying that inevitable change is just going to happen anyway, against opposition and obstacles.
A verifiable and indexed contract valuation of energy based exchanges is inevitable.
The "just good enough" rule of successful Engineering is characteristic of real-time re-evolution, wave-package coordination circularity.
An ecology it is and always will be, under careful management, because it's the functional phenomenon mechanism of time-timing sync-duration energy density-intensity distribution become predator-prey balance from the elemental driver of turbulence.
"Big whorls have little whorls
that feed on their velocity,
and little whorls have lesser whorls,
and so down to Viscosity".
Parasitism is fundamental, and biology is all about energy balance optimisation. Ie good management.
Mazzucato says the market fails so 'the government has to intervene and fund that.' This is a introverted fallacy that government has some sort of wealth to start with. It has none .
The reality is the fact that government has no wealth of it's own and has to tax to get control of wealth produced by the operations of the private sector to get it .
The private sector does Not tax government but produces the goods and services that government uses to operate - something that Mazzucato ignores completely.
States (all western/developed states at least) can raise money outside of tax. They take on Debt to fund and bail-out the failures of private enterprise. This is how states bailed out financial institutions during the last crash, we (tax payers) took on huge debts to fund the failure of these companies. The private 'risk' was taken on by governments . Also, part of Mazzucato's argument in general is that 'value' is narrowly defined by economists and therefore only attached 'value' items within the market that can be priced. A wider value sits outside that and can be generated by governments and the public sector.
States also fund private enterprise - pharma, technology, and also by giving tax cuts, beneficial treatment. And therefor create wealth and value.
@@brynlewis7175 The 'State' is not a living person. What you have done is attribute the abilities of a human person to a human construct.
Your idea is the "State" can take on debt. No it can't because it can't pay of it's debt. Only living working people can pay off debt. All debts created by the "State" (i.e. created in the name of the State) such as a decision to legally create more money by borrowing from the reserve bank ultimately becomes the debt of living breathing people who are forced to pay for it.
If the sate funded those enterprises you mentioned then it would not have to tax to get the funds and neither would it have to borrow to get the money.
@@brynlewis7175 You say "A wider value sits outside that and can be generated by governments and the public sector.". What is that value and how do you know?
Because it's just false.
The idea that god gave wealth to capitalists is as silly as the divine right of kings.
Value is created by the mobilization of people and resources. Capitalists can do this but so can family groups, unions, churches and indeed governments. There is no divine right that gives capitalists the exclusive right to create value, especially since usually most of their value comes from government subsidies and they need the state to enforce their property rights.
That you believe that government has no value itself doesn't make it so. It's a belief and one many people just don't agree with.