SPRU - Science Policy Research Unit



Mariana Mazzucato (PhD) has held the RM Phillips Chair in the Economics of Innovation at the Science Policy Research Unit (SPRU), in the School of Business, Management and Economics, since 2011. Before joining SPRU Mariana held academic positions at the Open University, London Business School, Bocconi University in Milan and the University of Denver. Her research focuses on the relationship between financial markets, innovation, and economic growth - at the company, industry and national level.

Professor Mazzucato’s book The Entrepreneurial State: debunking public vs. private sector myths (Anthem, 2013) was on the 2013 Books of the Year list of the Financial Times. It focuses on the need to develop new frameworks to understand the role of the state in economic growth and how to enable rewards from innovation to be just as ‘social’ as the risks taken. A US edition, featuring a new introduction, was published in 2015 by Public Affairs.  

Professor Mazzucato is winner of the 2014 New Statesman SPERI Prize in Political Economy and the 2015 Wirtschaft Weiter Denken German book prize. In 2013 the New Republic called her one of the '3 most important thinkers about innovation'.

Professor Mazzucato has recently been awarded two large grants from the European Commission's Horizon 2020 programme. The first, ‘DOLFINS- Distributed Global Financial Systems for Society’, is a cross-institution partnership led by the University of Zurich, aiming to address the global challenge of improving the financial system to better serve society, placing scientific evidence and citizens participation at the centre of the policy process in finance.  It aims to improve the link between long run ‘inclusive’ growth and the structure of the financial system.

The second, ISIGrowth – Innovation-fuelled, Sustainable, Inclusive Growth - led by the University of Pisa, will examine the relationship between innovation, employment dynamics and growth in an increasingly globalised, financialised economy.  The project aims to develop comprehensive policy recommendations across areas including innovation policy, fiscal policy, industrial policy, education policy and cohesion policy to achieve smart, sustainable and inclusive growth.

Between 2009-2012 she directed a large 3 year European Commission FP7 funded project on Finance and Innovation (FINNOV); her current project on Financing Innovation is funded by the Institute for New Economic Thinking (INET); and her project on Finance and Mission Oriented Investments is funded by the Ford Foundation's Reforming Global Financial Governance initiative. 

She advises policy makers arounds the world on innovation-led growth and is currently a member of the Scottish Government's Council of Economic Advisors; the World Economic Forum's Council on the Economics of Innovation and SITRA's (the Finnish Innovation Fund) Advisory Panel.

She is co-editor of a new book, Rethinking Capitalism: Economics and Policy for Sustainable and Inclusive Growth, will be published by Wiley Blackwell in July 2016. She is currently writing a new book, The Value of Everything, which will be published by Penguin's Allen Lane in Spring 2017.

Her research outputs, media engagement (including articles in the FT, Time Magazine, the New York Times, the Guardian and Foreign Affairs), and talks (including her TED Global talk), can be found on her website.



 For more videos visit Mariana's YouTube Channel

Mission-Oriented Finance Conference highlights, July 2014

University of Sussex film about the impact of Prof. Mazzucato's work, 2014

Professorial Lecture, Risks & Rewards: rethinking value creation & value extraction, May 2014

New Statesman SPERI Prize in Poiltical Economy - lecture, November 2014

LSE Public Lecture: The Failure of Market Failure, October 2013

Interview, CNN GPS with Fareed Zakaria on The Entrepreneurial State, Jan 2016

























Recent Policy Impact

German Social Democratic Party (SPD) Keynote, speaking alongside Economic Minister Sigmar Gabriel.

United Nations Economic Commision for Latin America & the Caribbean (ECLAC) Keynote, responding to ECLAC's Horsizons 2030 docuement to Finance Ministers from across Latin America & the Caribbean and the 14th Raul Prebisch Lecture.

Brazilian Ministry for Science and Technology presented report commissioned by Ministry, on 'The Brazilian Innovation System: A Mission-Orientated Policy Proposal'.

United Nations Secretary General's High Level Panel on Access to Medicines, provided written and verbal evidence.



Official website 

Full CV




Research Projects

The Entrepreneurial State: debunking public vs. private sector myths

DOLFINS- Distributed Global Financial Systems for Society, funded by the European Commission's Horizon 2020 programme

Innovation-fuelled, Sustainable, Inclusive Growth (ISIGrowth), funded by the European Commission's Horizon 2020 programme

Mission-Oriented Finance for Innovation

Mission-Oriented Innovation Policy: Space, funded by NASA and the European Space Agency (ESA)

Financing Innovation, funded by the Institute of New Economic Thinking (INET)

Financing Innovation & Growth (FINNOV), funded through the seventh programme framework of the European Commission

Inclusive Growth

Rethinking the State, a video project linking two research grants, the Ford Foundation's Entrepreneurial State project and the Institute for New Economic Thinking project on Financing Innovation

Other Projects 


Media and Talks

Key Media Articles

'He's right the economy is sick - and businesses like Trump's are part of the disease', The Guardian, 14/11/2016

'An entrepreneurial society needs an entrepreneurial state', Harvard Business Review, 25/10/2016

'Capitalism behaving badly', MIT Technology Review, 12/10/2016

'A strong industrial strategy has many benefits', The Financial Times, 03/08/2016

'If Theresa May is serious about inequality she'll ditch Osbornomics', The Guardian, 19/07/2016

'New Times: Mariana Mazzucato on why it's time for progressives to rethink capitalism', New Statesman, 22/09/2016


Articles written by Prof. Mazzucato

Articles about Prof. Mazzucato's work


TV appearances

Radio appearances

Talks and Events


Recent SPRU stories

SPRU Professors' work influences discussions on industrial strategy, 30/11/2016

SPRU Professor joins Austrian Chancellor for public debate, 18/11/2016

SPRU Professor cited by Finnish Prime Minister, 02/11/2016

Rethinking Capitalism: Economics and Policy for Sustainable and Inclusive Growth, 12/10/2016

Professor Mazzucato addresses finance ministers from Latin America & the Caribbean, 26/05/2016

Mariana Mazzucato launches Greek edition of The Entrpreneurial State, 19/05/2016

Professor Mazzucato delivers prestigious Raul Prebisch lecture and meets President of Argentina, 19/04/2016

Brazilian recovery requires public investment in innovation, 06/04/2016

Economist's "outstandingly written" book on state-led innovation wins major German prize, 22/02/2016

Prof Mazzucato at US Senate Forum, 12/08/2015

Greece and the EU, 17/07/2015

Professor Mazzucato criticises UK Chancellor budget surplus plans, 17/06/2015

Professor Mazzucato addresses to Austrian policy-makers, 10/06/2015

New EC funded project: Innovation-fuelled, Sustainable, Inclusive Growth, 22/05/2015

Call for mission-orientated investment, 29/03/2015

New Book: Mission-orientated finance for innovation - new ideas on investment-led growth, 09/03/2015 

Mariana Mazzucato appointed to Scottish government's Council of Economic Advisors, 05/03/2015

Improving the Financial system, 16/02/2015

Edges, horizons and transformation: the future of innovation policy, 08/12/2014

New Stateman SPERI prize for political economy, 06/10/2014

Mission Orientated Finance for Innovation Conference highlights, 23/09/2014

Mission Orientated Finance for Innovation Conference, 21/07/2014

The Entrepreneurial State, 19/05/2014

2012-2013 highlights


RM Phillips Professor in the Economics of Innovation