Note — Feb 10, 2019

Let’s Get Real About Purpose

Seen in → No.66

Source →

Mariana Mazzucato going over some of the “purpose” statements in recent years, like from Blackrock CEO Larry Fink, opining that we should go further and find ways of making actual progress beyond words. She lists “three key steps that would make this new sense of purpose for ‘real’”: What to create, citing the Sustainable Development Goals (SDGs) as a good example; How to evaluate (see second quote below); How to share, about public institutions sharing not only the risks but also the rewards, one of her repeated battle cries.

To get real about purpose we need to concentrate on purpose throughout production, recognise that value is created collectively, and build more symbiotic partnerships between public institutions, private institutions and civil society. […]

Governments should worry less about handouts and more about using instruments like procurement and prize schemes, to nurture the bottom up solutions within companies needed to address the development goals. Less picking winners and more picking the willing.