New Economic Thinking for a New Industrial Strategy 2024
New Economic Thinking for a New Industrial Strategy | UCL Institute for Innovation and Public Purpose - UCL – University College London
New Economic Thinking to Support a New Industrial Strategy Greatness Joy Kenewendo. Erika Kraemer - I'm missing
The industrial strategy is back in the spotlight around the globe. However, it runs the risk of reverting to outdated models that focus on specific sectors and technologies. It's also guided by outdated assumptions about economics, which limit the role played by the state. It is also often promoted without a global equity lens or global climate change lens. The new IIPP Strategic Economics Alliance (SEA), led by Professor Mariana Mazzucato, and Dr Carolina Alves aims to improve new economic thinking, and its influence on policy, especially in the green industrial strategy area.
Climate change is directly related to how our economies have been designed. This highlights the need for a new way of thinking about and practicing economics. The current economic policy is heavily restricted by the economic theory which minimises the state's role in shaping markets and directing inclusive and sustainable growth ex-ante. This theory is largely a product of the Global North. IIPP has launched a new initiative in order to combat this trend.
The SEA initiative is designed to create new links between academics challenging mainstream economics, and ambitious leaders in government and multilateral institutions. It will help these leaders navigate the transition towards inclusive and sustainable economies and feed back their insights to inform economic theories. It will also provide a platform to amplify the voices of female economists from the Global South who have traditionally been underrepresented.
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