In “Mission Economy” Mariana Mazzucato argues that societies ought to abjure tired ideologies and embrace the policy approach that put astronauts on the Moon. By setting grand missions for themselves, she writes, and deploying the power of the state in practical ways, they can become more prosperous and equitable. It is an appealing idea, even if America has rarely looked less capable of purposeful collective action.
Scepticism among dismal scientists about government involvement in markets is based on faulty assumptions, she insists. Common complaints about state meddling—that governments are less efficient than private firms, cannot pick winners, and are staffed by self-interested bureaucrats concerned only with their own status—are belied by an impressive record of government successes: developing the foundation of the internet, for instance, or extending financial assistance to Tesla.
And the programme’s technological demands—like the need for smaller, more powerful and more reliable computers than were available at its inception—put pressure on contractors to innovate. They did so, fearlessly, because the state shouldered much of the risk associated with moonshot technologies. The government’s demand for cutting-edge kit sowed the seeds of the computing age to come.
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