The Big Con

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An entrenched relationship exists between the consulting industry and the management of business and government, which needs to change. Mariana Mazzucato and Rosie Collington reveal how reliance on firms like McKinsey and Deloitte stifles innovation, obscures accountability, and hinders efforts to combat climate change. The 'Big Con' illustrates the confidence trick played by the consulting industry on risk-averse governments and profit-driven companies. Emerging from the reforms of the 1980s and 1990s, it thrives on modern capitalism's challenges, including financialization and privatization. This situation is fueled by the significant power that large consultancies hold through extensive contracts and networks, presenting themselves as objective experts. Additionally, top graduates are often diverted from public service into consulting roles, further weakening governments and distorting economies. Mazzucato and Collington effectively debunk the myth that consultancies consistently add value. Through original research, they advocate for investment in collective intelligence within organizations and communities, calling for a new system where public and private sectors collaborate for the common good. It is crucial to recalibrate the role of consultants to create economies and governments that truly serve their purposes.