Mazzucato and Wray: Making Finance Work for Innovation

The video features a discussion between two economics professors, Mariana and Randy, about their project on financing innovation. They explore the integration of Schumpeter's and Minsky's theories, focusing on how innovation and finance interact. Mariana discusses Schumpeter's influence on her work, while Randy highlights Minsky's contributions to financial innovation. The professors aim to merge these ideas to address modern economic challenges. They also share their personal academic journeys and how they became interested in economics.

What is the primary aim of the project discussed in the video?

• To separate micro and macroeconomic theories

• To integrate innovation and finance theories

• To focus solely on macroeconomic fluctuations

• To study only small firms

According to Schumpeter, what affects the type of innovation firms engage in?

• The size of the firm

• The type of finance they receive

• The location of the firm

• The age of the firm

What concern does Minsky have about the modern financial sector?

• It is too focused on small firms

• It is overly regulated

• It is not financing the capital development of the economy

• It is too similar to the post-war period

What are the three characteristics of innovation mentioned in the video?

• Collective, uncertain, and commutative

• Predictable, individual, and static

• Random, isolated, and linear

• Stable, certain, and independent

How did Mariana's academic background influence her interest in economics?

• She was always interested in finance

• She was influenced by her friends' interests

• Her interest in labor issues led her to economics

• She studied economics from the beginning

What was Randy's initial field of study before pursuing economics?

• Biology

• History

• Engineering

• Psychology

What unique feature did Randy's university have that influenced his study of economics?

• It was located in a major financial hub

• It offered only online courses

• It focused only on neoclassical economics

• It had a diverse range of economic theories