Mission Economy suggests an ambitious, bold and progressive way of tackling major global challenges of the 21st century. Its central idea is that governments should actively shape markets in order to meet challenges such as climate crisis: setting clear goals and instigating public-private partnerships that encourage innovation, risk taking and collaboration for the good of society as a whole. Mazzucato uses the Apollo program to illustrate how this approach would work. The mission – i.e. sending a man to the moon and back, required US governmental agency and businesses to work together to find solutions to complex problems. While cost and risk were high, the mission also hugely benefited society in the long run, not least in the technological innovations that have since found many practical uses from water purification, landmine removal to firefighting equipment, to name a few.

This mission based approach to solving the myriad of problems we face today, from digital divide to social care, from responses to global pandemics to climate emergency also necessarily requires rethinking of capitalism to primarily serve public good rather than private interest, to consider social benefits as value rather than just cost. It requires governments to bring back innovative, big thinking into civil service and letting it run public-private partnerships rather than outsourcing public services to private interests, which are primarily guided by profit. We are all currently experiencing the disastrous effects of years of public service cut-backs and austerity – the failure of the outsourced test and trace system to effectively test and trace Covid infections in the UK being one of many examples. So, things must change and Mazzucato’s way forward is admirable and compelling.

However, I wasn’t fully convinced that it would work when applied to some of the big problems facing society today. There is no doubt that capitalism is in crisis but is there enough collective and political will to change it to serve common good? Mazzucato gives examples of recent projects she has been involved in, working with European Commission and Camden Council on tackling climate change but the outlines of the missions given in the book are somewhat nebulous. How have these been practically implemented and how are they working out in real life? Still, Mission Economy does offer solutions rather than just highlight problems and the solutions put forward are inspiring as well as inclusive.

Three and a half stars, which I am rounding up to four because it advocates positive change and I’d like to encourage people to read it.

My thanks to Penguin, Allen Lane and Netgalley for the opportunity to read Mission Economy.