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The Big Failure of Small Government — MARIANA MAZZUCATO , GIULIO QUAGGIOTTO

Summary:
It is no coincidence that countries with mission-driven governments have fared better in the COVID-19 crisis than have countries beholden to the cult of efficiency. Effective governance, it turns out, cannot be conjured up at will, because it requires investment in state capacity.... Project SyndicateThe Big Failure of Small Government Mariana Mazzucato, Professor of Economics of Innovation and Public Value and Director of the UCL Institute for Innovation and Public Purpose, and Giulio Quaggiotto, Head of the Regional Innovation Center in the Asia Pacific at the United Nations Development Programme.See also “State capacity and a collective culture are the two uniquely strong characteristics of China’s political system and social construct that will ultimately enable the country to

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It is no coincidence that countries with mission-driven governments have fared better in the COVID-19 crisis than have countries beholden to the cult of efficiency. Effective governance, it turns out, cannot be conjured up at will, because it requires investment in state capacity....
Project Syndicate
The Big Failure of Small Government
Mariana Mazzucato, Professor of Economics of Innovation and Public Value and Director of the UCL Institute for Innovation and Public Purpose, and Giulio Quaggiotto, Head of the Regional Innovation Center in the Asia Pacific at the United Nations Development Programme.

See also

“State capacity and a collective culture are the two uniquely strong characteristics of China’s political system and social construct that will ultimately enable the country to successfully combat this crisis”.
And
“there is a community that matters more than the individual” [This is an example of the trolley problem in ethics.]
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Eric Li: “How do you block a country of 1.4 billion people?”
Gideon Rachman, FT‘s chief foreign affairs commentator
Originally at the Financial Times (February 07 2020)
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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