Riccardo Bellofiore - Rethinking the State - Series 4

Riccardo Bellofiore (University of Bergamo), co-editor (with Piero Ferri) of Financial Keynesianism and Market Instability: The Economic Legacy of Hyman Minsky discusses Keynes' notion of socialization of investments as a means for promoting aggregate demand and employment in light of Minsky's financial instability hypothesis and associated concept of Money Manager Capitalism. The implication of this analysis is that the capital development of the economy requires the State to engage in long term targeted investments (and not just indirectly support of aggregate demand), fully exploiting the potentials of the ICT revolution and promoting a transition to a green economy.

Rethinking the State is a video project coordinated by Prof. Mariana Mazzucato (SPRU/University of Sussex) that links two research grants (Ford Foundation's Entrepreneurial State and INET's Financing Innovation). Every week we release a new video with leading international economists voicing their views on topics such as the role of the State in the economy and in the innovation process, the global financial system, the current economic crisis, the side-effects of austerity measures, and alternative growth and innovation policies.