Peace as an economic strategy

In his Labour Party conference speech in September, British Prime Minister Keir Starmer doubled down on “growth” as the central mission of his government.

- MARIANA MAZZUCATO & RAINER KATTEL

At the same time, he drew a sharp moral line between Labour and Reform UK, invoking British and democratic values to paint the populist party as beyond the pale. But the contrast between these two themes reveals a deeper problem that may well define Mr Starmer’s premiership: Growth, in and of itself, has no moral valence.

After all, many Western economies have grown while becoming more unequal, more financialised, more carbon-intensive, and more fragile politically. Growth can drive innovation and prosperity, but it can also fuel environmental breakdown, social division, and geopolitical instability. It is not a mission objective, but a metric, and metrics divorced from purpose can be dangerous.

That is why clearly stated missions matter. They are what sets the direction of travel, aligning economic activity around clear, collective goals. A mission took humanity to the moon, galvanising investment in aerospace, nutrition, electronics, and materials, which in turn brought us camera phones, foil blankets, baby formula, and software products that we now take for granted. If designed to address today’s climate crisis, a peace mission can galvanise action across agriculture, energy, transportation, digital industries, and all other relevant sectors.