[FRIAM] What would be the goals of a large state?

[Roger Critchlow]

Ah, Mariana Mazzucato, I heard her on The Longplayer Assembly,
https://www.artangel.org.uk/longplayer/longplayer-assembly/, a 12 hour
chained conversation held online September 26.

What stuck in my head was that economic activity which actually increases
the wealth of nations should be treated differently than activity which
merely shuffles the wealth around, something she thought Adam Smith took
for granted but a distinction that economists tend to ignore.

-- rec --


On Mon, Oct 26, 2020 at 11:01 AM David Eric Smith <desmith at santafe.edu>
wrote:

> There’s an article in Foreign Affairs that discusses this question from a
> perspective that mirrors very many dimensions of what I have come to think
> is right over the years:
>
> https://www.foreignaffairs.com/articles/united-states/2020-10-02/capitalism-after-covid-19-pandemic
> Shame if there weren’t anybody to whom I could forward it.
>
> To talk about big or little state as an abstraction seems to lead to
> unhelpful conversation.  But an operational study of what jobs need doing,
> who can do them, and how they are being done wrongly now, grounds that
> discussion much better.
>
> I am struck that she uses several after-the-fact evaluations of what would
> be good to do, which I think reflect a quite distributed effort by
> investigative journalists, academics, lawyers and agencies.  To have made
> those decisions correctly on the input end looks very knowledge-intensive.
> But it is knowledge of a kind we actually have, and this list likes to
> envision using.  The limiting factor really has been coordination among the
> many sectors that would need to interact to support really good
> decision-making by a state.  Envisioning what that might look like, and how
> it could be built, sounds worth-while.
>
> Eric
>
>
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