B.C. enlists global expert to advise on sustainable, innovative, inclusive economic plan

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B.C. enlists global expert to advise on sustainable, innovative, inclusive economic plan

by ahnationtalk on June 23, 202183 Views

June 23, 2021

VICTORIA – The Government of British Columbia is teaming up with a world-renowned professor from University College London (UCL) to advise on the future of the economy as B.C. develops a long-term economic plan that will steer the province through the post-pandemic era.

Mariana Mazzucato and her team at UCL’s Institute for Innovation and Public Purpose (IIPP) will advise the B.C. government as it develops its plan to build a sustainable, inclusive and innovative economy. Government will seek input from B.C. business groups, labour, Indigenous Nations, post-secondary institutions, not-for-profit organizations, local governments and the public.

Ravi Kahlon, Minister of Jobs, Economic Recovery and Innovation, is leading the public and stakeholder engagement on this plan. Some of these sessions will involve people representing multiple sectors so they can come together to share ideas about the future of B.C.’s economy. The economic plan will build on B.C.’s long-standing advantages and reflect people’s values to build a sustainable, inclusive and innovative future.

“The pandemic challenged B.C. in ways we never imagined. It brought out the very best in us as British Columbians, but it also shined a light on the historic gaps we see in our province,” Kahlon said. “But with better days around the corner, we are also turning our minds and our hearts to the kind of stronger B.C. that we want for ourselves and future generations. B.C. has weathered the storm better than most jurisdictions, thanks to our strong economic foundation, but there is more work to be done. Our economic plan will be our roadmap to ensuring B.C.’s long-term economic prosperity, and I am pleased to have Professor Mazzucato advising me and government on this critical work.”

Mazzucato is a professor in the economics of innovation and public value at UCL where she is founding director of the IIPP. She is the author of three highly acclaimed books: The Entrepreneurial State: Debunking Public vs. Private Sector Myths (2013); The Value of Everything: Making and Taking in the Global Economy (2018); and the newly released Mission Economy: A Moonshot Guide to Changing Capitalism (2021). She advises policy makers around the world on innovation-led inclusive and sustainable growth.

Mazzucato and her team of experts at IIPP will advise the Province on aligning public-sector capabilities, financing mechanisms and citizen engagement with a new mission-oriented innovation strategy for building an inclusive and sustainable economy.

“Governments have a critical role to play in shaping markets, not just fixing market failures,” Mazzucato said. “Responding after a failure has occurred is, by definition, too late – and often carries a high financial and human cost, as we have seen with COVID-19 and the 2008 financial crisis. As the Province of B.C. advances its economic recovery agenda, it has the opportunity to shape a different kind of economy – one that is sustainable, inclusive, resilient and oriented around solving problems that matter to people and planet.”

The consultation process has begun. The economic plan is expected to be released this fall. Kahlon will lead public and stakeholder engagement over the summer. Beyond the economic plan release, a broad-based and enduring dialogue with people, businesses, not-for profits and Indigenous peoples will continue to help build a more sustainable, inclusive and innovative economy for people, businesses and communities throughout B.C.

Learn More:

For more information on StrongerBC, visit: https://strongerbc.gov.bc.ca/

For more information on BC’s Restart plan, visit: https://www2.gov.bc.ca/gov/content/covid-19/info/restart

To learn more about Mazzucato: https://marianamazzucato.com/

For more information on UCL Institute for Innovation and Public Purpose, visit: https://www.ucl.ac.uk/iipp

To contact the Economic Plan Engagement Secretariat, email: [email protected]

A backgrounder follows.

Contacts:

Lori Cascaden
Communications Manager
Government Communications and Public Engagement
Ministry of Jobs, Economic Recovery and Innovation
[email protected]
778 698-2892

UCL Institute for Innovation and Public Purpose
Media Relations
[email protected]


BACKGROUNDER

Facts about Mariana Mazzucato and UCL

Mariana Mazzucato (PhD) is professor in the economics of innovation and public value at University College London (UCL), where she is founding director of the UCL Institute for Innovation and Public Purpose. She received her BA from Tufts University and her MA and PhD from the graduate faculty of the New School for Social Research. Her previous posts include the RM Phillips professorial chair at the science policy research unit (SPRU) at Sussex University. She is a selected fellow of the U.K.’s Academy of Social Sciences (FAcSS) and of the Italian National Science Academy (Lincei).

She is winner of international prizes including the 2020 John von Neumann Award, the 2019 All European Academies Madame de Staël Prize for Cultural Values, and the 2018 Leontief Prize for Advancing the Frontiers of Economic Thought. She was named as one of the “three most important thinkers about innovation” by The New Republic, one of the 50 most creative people in business in 2020 by Fast Company, and one of the 25 leaders shaping the future of capitalism by WIRED magazine.

She advises policy makers around the world on innovation-led inclusive and sustainable growth. Her current roles include being chair of the World Health Organization’s Council on the Economics of Health for All and a member of the Scottish government’s Council of Economic Advisors, the South African President’s Economic Advisory Council, the OECD Secretary General’s Advisory Group on a New Growth Narrative, the UN High Level Advisory Board for Economic and Social Affairs, Argentina’s Economic and Social Council, Vinnova’s Advisory Panel in Sweden, and Norway’s Research Council. Previously, through her role as special adviser for the EC Commissioner for Research, Science and Innovation (2017-19), she authored the high-impact report on Mission-Oriented Research and Innovation in the European Union, turning “missions” into a crucial new instrument in the European Commission’s Horizon innovation program.

About UCL Institute for Innovation and Public Purpose

The UCL Institute for Innovation and Public Purpose (IIPP) was launched in October 2017. It aims to develop a new framework for creating, nurturing and evaluating public value in order to achieve economic growth that is more innovation-led, inclusive and sustainable. IIPP research and teaching engages with the international debate about using mission-oriented policies to steer the direction of economic growth. Refocusing and designing public organizations around public purpose-led missions will help tackle the grand challenges facing the 21st century. IIPP is housed in The Bartlett at UCL, known internationally for its radical thinking about space, design and sustainability.

Contacts:

Lori Cascaden
Communications Manager
Government Communications and Public Engagement
Ministry of Jobs, Economic Recovery and Innovation
[email protected]
778 698-2892

UCL Institute for Innovation and Public Purpose
Media Relations
[email protected]

Connect with the Province of B.C. at: news.gov.bc.ca/connect

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