The 2025 Reynolds Lecture with Prof Professor Mariana Mazzucato, UCL скачать в хорошем качестве

The 2025 Reynolds Lecture with Prof Professor Mariana Mazzucato, UCL

The fourth annual Reynolds Lecture was delivered by Mariana Mazzucato, Professor in the Economics of Innovation and Public Value, UCL, and Founding Director, UCL Institute for Innovation & Public Purpose, on "Mission-oriented government: Building state capacity for the 21st century", on 23 October 2025, at Emmanuel College, Cambridge. A mission-oriented approach to industrial strategy can tackle both the rate and direction of growth by moving beyond reactive market-fixing toward proactive market shaping. This requires rethinking the state from a passive corrector of market failures to an entrepreneurial investor that sets ambitious missions across all levels of government—from local to national—with whole-of-government coordination that breaks down departmental silos. The rise of the consulting industry has hollowed out essential public sector capabilities, creating dependency rather than building the internal institutional capacity for long-term strategic thinking and mission delivery that can confidently crowd-in private investment while embedding concrete conditionalities. This approach demands moving from government as lender of last resort to investor of first resort, creating symbiotic partnerships where risks and rewards are shared. Rebuilding state capacity means investing in civil service expertise and governance structures that enable coherent policy delivery across multiple government levels. UCL IIPP’s Public Sector Capabilities Index provides the first global measure of government capacity. The lecture explores the need to build state capacity and reimagine the state for 21st century challenges—from the climate, water, and biodiversity crises to digital and health inequities. About the Reynolds Lecture Series Lord Richard Wilson established this annual lecture series in honour of Dame Fiona Reynolds, his successor as Master of Emmanuel College.