Mission Economy: A Moonshot Guide to Changing Capitalism

As we embark on this journey through the ideas of a new economic vision, it is essential to understand the profound challenges facing our current system. Today’s capitalism is at a crossroads, burdened by deep structural flaws that threaten both social stability and planetary health. Finance has become a self-referential beast, feeding on itself rather than nurturing the real economy. In the US and UK, only about one-fifth of financial flows support productive business activities, while the majority fuels speculative bubbles in finance, insurance, and real estate. This imbalance has led to a fragile economy, prone to crises and disconnected from the needs of ordinary people.

Meanwhile, wages for most workers have barely budged despite rising productivity. Imagine a factory where machines work harder and faster but the workers’ paychecks remain stuck. This growing divergence fuels inequality, eroding trust in institutions and leaving millions feeling powerless. Between 1995 and 2013, median wages grew at less than 1% annually, while productivity nearly doubled. This means the fruits of growth are increasingly captured by the wealthiest few, while many struggle to make ends meet.

The environmental crisis looms large as well. Despite the urgent warnings from scientists, governments continue to subsidize fossil fuels to the tune of tens of billions annually. This sends a contradictory message, undermining efforts to curb emissions and protect biodiversity. Our planet is warming at a rate that threatens irreversible damage within a decade. The challenges are interconnected: economic inequality, financial instability, and environmental degradation form a tangled web that demands bold, systemic solutions.

Yet, amidst this daunting landscape, there is hope. History shows us that human ingenuity and collective action can turn crises into opportunities for transformation. The question is: how can we harness this potential? The answer lies in reimagining the role of government and the economy, moving beyond reactive fixes to proactive, purpose-driven missions that unite society around shared goals.

As we move forward, we will explore how lessons from one of humanity’s greatest achievements—the Apollo moon landing—offer a blueprint for such bold action. But first, we must grasp the depth of the crisis that calls for this new approach.

Let us now turn to the inspiring story of how a clear vision, bold leadership, and collaborative innovation propelled a nation to the moon, illuminating a path for our own mission-driven future.