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A plan to fix capitalism (long read) 09:56 - Oct 10 with 620 viewshomer_123

https://www.wired.co.uk/article/mariana-mazzucato

An interesting and thought provoking read.

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A plan to fix capitalism (long read) on 10:03 - Oct 10 with 609 viewsGuthrum

Haven't time now to read the whole thing, but the first couple of paragraphs mostly look like common sense. Which is good.

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A plan to fix capitalism (long read) on 10:44 - Oct 10 with 563 viewsCoachRob

Just voted for Mariana in the Not the Nobel Prize run by The Mint Magazine which she won, any people studying a business course at Uni I would strongly recommend them to read Mariana's book The Value of Everything.

There are also a number of free lectures available at the IIPP website https://medium.com/iipp-blog/rethinking-capitalism/home
These cover many subjects including housing, finance, complex systems, innovation, MMT, and technology e.g. smart cities.

The article gets to the crux of what Mariana is saying which is government's can do stuff and can work in conjunction with business to creae value. Thank you for sharing.

The cult (mainstream economics) have their fake nobel prize on Monday, last year they gave it to Bill Nordhaus for his insane IAM model of temperature and GDP growth - one for the climate deniers like Bjorn Lomborg to constantly reference when pumping out nonsense on climate change. Thank goodness for people like Mariana to cut through this nonsense and put forward sensible solutions to the mounting problems we face.
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A plan to fix capitalism (long read) on 10:46 - Oct 10 with 562 viewsDarth_Koont

Very good. I'll have to read that again as there's lots in there.

As Guthrum says, it feels like common sense and what we innately understand to be true. But that's government (Big Brother) with fairly social democratic ideals (Lefty dreamers) at its heart competing against the massive self-promotion of private enterprise (Look over here ... We're changing the world) and the allure of free-market capitalism (Get rich quick). All adds up to a narrative where state-sponsored is seen as propping stuff up or getting in the way rather than actually driving progress.

I think it's also important to acknowledge how little most companies put into R & D. Yes, at the start and likely via university hubs, EU grants and state sponsorship. But once they're up and running most companies buy their innovation from the smaller companies who have taken over at the teat of the state. As the article points out, profits are mostly used for share buy-backs or in the case of so-called private research organisations like big pharma companies, enormous sales and marketing budgets that absolutely dwarf the drug research and development costs they're so eager to boast about.

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