Mission Economy Summary

What if we could tackle our world's biggest issues with the same determination and collective effort that put a man on the moon?

1. The Need for a Transformative Mission

The 1969 moon landing showed that extraordinary goals could unite effort and resources to achieve what once seemed impossible. Today, our political and economic systems struggle with deep issues like inequality, climate change, and fragile social infrastructures. The solution? A transformative mission-driven approach akin to the space race.

This kind of thinking requires placing purpose at the center of government action, just as the US did when it committed to landing on the moon. The moon mission wasn’t guided by budget constraints but by the unequivocal resolve to achieve success. Such an ambitious dedicated plan not only achieved its primary goal but also spawned numerous ancillary benefits, including technological advancements and innovative management systems.

The lesson is clear: when governments embrace bold, outcome-focused missions, they can create ripple effects that spur industry, innovation, and public welfare. Current limitations on government spending and vision prevent us from leveraging these potential impacts.

Examples

• The Apollo program drove technological innovations like CAT scans, LEDs, and memory foam.
• NASA’s systems engineering approach inspired management practices replicated by major corporations like Boeing.
• Public spending surpassed $28 billion because the mission prioritized its goal over budget limitations.

2. Flaws in Our Current Political Economy

The political and economic systems we rely on aren't solving modern challenges like climate change, widening wealth gaps, and public health crises. An underlying problem is "financialization," where businesses prioritize shareholder profits over quality products or employee welfare.

Equally problematic is the hesitance of governments to take bold risks or lead the way. Economic orthodoxy often demands governments act only in a reactive manner, such as fixing emergencies rather than driving proactive long-term visions. The notion of "efficiency" frequently pushes public institutions to outsource tasks, which can increase costs and reduce accountability.

Instead of fostering innovation and purpose, this-profit driven machinery generates inequality and environmental degradation. Governments must reclaim their role as fearless creators of public value, not merely regulators or fixers.

Examples

• 90% of UK bank loans finance existing assets, like real estate, instead of fostering product development or societal growth.
• Public health funding in the UK was reduced by £900 million before the Covid-19 pandemic, exacerbating systemic issues.
• While Tesla thrived on public loans, failures like Solyndra drew disproportionate public criticism, discouraging governments from risky but essential investments.

3. Governments' Untapped Potential for Change

Despite popular belief, governments often take on more risk for innovation than private companies. The Apollo program exemplified how public leadership and financing can produce groundbreaking achievements. Unfortunately, governments today shy away from such boldness, largely due to public scrutiny and a misunderstanding of their potential.

Government failures, often amplified by the media, discourage risk-taking. Solyndra's collapse after securing a $535 million US government loan is a prime example. What is overlooked, however, is how government support was also integral to Tesla's success. This imbalance needs correcting; governments need to take credit for their wins and embrace innovative thinking.

Public institutions can shape entire industries by ensuring their investment directs development, not just reacts to market forces. A clear mission and well-placed trust in governments can lead to significant societal improvements.

Examples

• The US government's funding helped Tesla become a leader in electric vehicles.
• NASA employed multiple private companies to foster exploration and local interest in solving Apollo-related problems.
• Germany’s KfW bank championed green financing, blending the economy’s growth with environmental stewardship.

4. Environmental Challenges as Today’s Missions

The world now faces existential environmental threats, such as rising global temperatures, plastic pollution, and biodiversity loss. These challenges require defining clear missions, which will rally cross-sector collaborations and public enthusiasm.

Take making oceans plastic-free as an example. Achieving it would require a joint effort between industries like biotechnology, waste management, and marine biology. This goal could lead to significant innovation in sustainable materials, waste-processing technologies, and environmental preservation.

Large-scale environmental plans like the European Green Deal or US Green New Deal illustrate today’s governmental vision, but their success hinges on engaging diverse stakeholders and fostering public participation.

Examples

• The European Green Deal aims for a climate-neutral Europe by 2050.
• Replacing plastics with biodegradable alternatives will require collaboration across chemical, tech, and ecology sectors.
• The UN’s Sustainable Development Goals highlight global, mission-worthy initiatives like eradicating poverty and promoting sustainable energy.

5. Overhauling Public Value in the Economy

Our societies often equate value with price, overlooking the broader public benefits generated by purposeful projects. Transformative missions promote a healthier understanding by prioritizing public welfare over immediate profitability. The focus should shift from wealth redistribution, which addresses inequality after the fact, to predistribution, ensuring fair economic participation from the start.

Governments must redefine their role, not merely as market operators but market architects driving imaginative solutions that align business growth with societal needs.

Examples

• Germany’s KfW bank attaches sustainability conditions to loans, influencing growth toward green energy and climate-neutral infrastructure.
• Government-crafted green bonds encourage private industries to innovate responsibly.
• By funding public goods like healthcare or renewable energy, governments can inject money into the economy while building essential infrastructure.

6. Collective Participation Matters

Unlike the top-down nature of the Apollo mission, many of today’s goals, such as building green cities, necessitate grassroots participation. These missions should reflect the voices and needs of the people they directly affect.

Incorporating public input ensures buy-in while driving fairness and shared ownership. This collaborative approach fosters creativity and guards against inequality in how resources are distributed.

Examples

• Urban greening projects are more successful when designed with local communities’ input.
• Recent democratic budgeting trends empower citizens to allocate public funds based on collective decision-making.
• Making policies about renewable energy accessible to the workforce builds societal trust and engagement.

7. Developing Lasting Partnerships Between Public and Private Sectors

Collaboration between governments and private corporations played a huge role in the Apollo successes, even producing unexpected benefits like CAT scans and baby formula. Such partnerships today can fuel missions like carbon neutrality or better urban planning.

To be effective, governments must prioritize quality rather than defaulting to the lowest bidders, nurturing long-term alliances where the private sector aligns with public priority.

Examples

• Motorola developed communication uplinks for Apollo, influencing later consumer tech innovations.
• Private space technologies companies are now inheriting standards pioneered by NASA’s collaborative systems.
• The fuel-saving technology developed in space programs eventually influenced airlines’ efficiency.

8. The Importance of Outcome-Focused Budgeting

The moon landing committed $28 billion, prioritizing success over cost management. Governments today often treat national budgets like household finances, constantly trying to limit spending instead of focusing on outcomes.

This traditional approach fails to utilize public financing’s potential to grow economies and address large-scale problems. Investing in public services like highways or renewable energy delivers double benefits by boosting economic productivity and public welfare.

Examples

• Central banks providing direct government funding can propel infrastructure projects.
• Investments in renewable energy bolster job creation while reducing carbon emissions.
• Healthcare spending ensures not only social equity but also long-term research advancements.

9. Inspiration from Collective Effort

The Apollo program ignited a sense of shared purpose and identity among humans. While divided by the Cold War, people across the globe saw the moon landing as a shared victory that spoke to their collective power.

Creating similar moments today requires leaders who inspire and collaborate globally to solve universally shared problems.

Examples

• Covid vaccinations show science and collective government action can address global issues rapidly.
• Climate marches and protests display public interest in rallying behind global missions.
• The moon landing created countless dreams of becoming scientists, engineers, and astronauts.

Takeaways

1. Advocate for mission-driven thinking in public policies, focusing on defined outcomes rather than costs.
2. Demand collaboration between governments, private enterprises, and citizens to solve issues like plastic pollution and inequality.
3. Encourage businesses to adopt stakeholder-focused models that prioritize shared prosperity.