Profile of Mariana Mazzucato, the economist who's swaying both left and right politicians with talk of "the entrepreneurial state"

Mariana Mazzucato (previously) came to prominence after the publication of her 2013 book The Entrepreneurial State, which described the way that robust state spending on large-scale R&D was critical to the kinds of commercial technological "breakthroughs" that the private sector liked to take credit for, and argued that the decades-long drawdown in public spending on the theory that governments were bloated and inefficient had stalled economic growth and technological progress because private firms systematically underinvest in research. Read the rest

Big Pharma's origin: how the Chicago School and private equity shifted medicine's focus from health to wealth

Between 2010 and 2016, the FDA approved 210 new medicines and every single one was produced at public expense, part of a $1T US government investment project in medical research. Despite this massive public subsidy, the pharma industry has only grown more concentrated and rapacious, raising prices and diverting the profits to their execs and investors, who now pocket 99% of industry profits: the industry made $500B in profits between 2006 and 2015, and during that time, the US government pumped $33b/year into pharma research. Read the rest

Rethinking Capitalism: like the Feynman lectures but for economics

From 1961-1963 Richard Feynman -- one of the preeminent physicsts of his day -- taught an undergraduate class in physics at Cal Tech, a gig that was nominally well below his paygrade, and gave such a virtuoso performance that "They Feynman Lectures" have gone down in the annals of physics history as some of the best introductory material on physics in existence. Read the rest