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Financing innovation: creative destruction vs. destructive creation (2013)[pdf]

1 pointsby zenonianabout 8 years ago

1 comment

zenonianabout 8 years ago
Extract from conclusion:<p>&quot;The key problem is how to de-financialize real economy companies, and to find ways that value creation activities (in both the financial sector and real economy) are rewarded over value extraction activities. This will entail both finding and supporting sources of finance that provide long-term committed patient capital, but also specific policy mechanisms that limit the power of large shareholders, which has allowed ‘trading’ to be rewarded over ‘investment’ and also caused innovation-led growth (a result of a collective process) to lead to a less collective, less equitable, highly unstable economic structure.&quot; - M. Mazzucato (2013)