The Big Con

The Big Con by Mariana Mazzucato and Rosie Collington is a vital and timely exploration into the pervasive influence of the consulting industry on our economies and governments. This meticulously researched work uncovers how major consulting firms such as McKinsey, Boston Consulting Group, Bain & Company, PwC, Deloitte, KPMG, and EY have deeply embedded themselves into the fabric of decision-making processes within both the public and private sectors.

Delving into the entrenched relationship between these consultancy giants and risk-averse governments, as well as firms focussed on maximising shareholder value, the authors highlight how this dependency stifles innovation and obscures accountability. Through detailed analysis, Mazzucato and Collington reveal that the over-reliance on consultancy firms impedes efforts to address critical issues like climate change, as these organisations often prioritise their financial gain over the collective good

One of the central arguments presented in The Big Con is the unique power consultancy firms have accrued through extensive contracts and influential networks. As advisors, legitimators, and outsourcers, these firms create an illusion of being objective experts while in reality, their primary interest lies in maintaining their positions of influence and profitability. This dynamic weakens corporate transparency, undermines governmental efficacy, and distorts economic priorities.

Mazzucato and Collington expertly debunk the myth that consultancy firms perpetually add value to the economy. They provide a wealth of original research to argue for a paradigm shift where investment in in-house expertise and collective intelligence becomes a priority for all organisations and communities. The authors advocate for a new system in which both public and private sectors work collaboratively and innovatively towards the common good, redefining the role of consultants to support rather than dominate.

The Big Con challenges readers to rethink the prevalent reliance on consultancy firms and calls for the rebuilding of economies and governments that are truly fit for purpose. By recalibrating the role of consultants and fostering an environment of joint effort and mutual accountability, Mazzucato and Collington envision a future where innovation and progress are driven from within, rather than outsourced to external entities.

This compelling book is a must-read for anyone interested in economics, governance, and the roles of consultancy firms in shaping the modern world. It is a clarion call for action, urging us to reclaim the reins of our economic and political futures.