The Big Con

How the Consulting Industry Weakens Our Businesses, Infantilizes Our Governments and Warps Our Economies

By: Mariana Mazzucato, Rosie Collington

Narrated by: Amy Finegan

Brought to you by Penguin.

There is an entrenched relationship between the consulting industry and the way business and government are managed today which must change. Mariana Mazzucato and Rosie Collington show that our economies' reliance on companies such as McKinsey, Boston Consulting Group, Bain & Company, PwC, Deloitte, KPMG and EY stunts innovation, obfuscates corporate and political accountability and impedes our collective mission of halting climate breakdown.

The 'Big Con' describes the confidence trick the consulting industry performs in contracts with hollowed-out and risk-averse governments and shareholder value-maximizing firms. It grew from the 1980s and 1990s in the wake of reforms by both the neoliberal right and Third Way progressives, and it thrives on the ills of modern capitalism, from financialization and privatization to the climate crisis. It is possible because of the unique power that big consultancies wield through extensive contracts and networks - as advisors, legitimators and outsourcers - and the illusion that they are objective sources of expertise and capacity. To make matters worse, our best and brightest graduates are often redirected away from public service into consulting. In all these ways, the Big Con weakens our businesses, infantilizes our governments and warps our economies.

Mazzucato and Collington expertly debunk the myth that consultancies always add value to the economy. With a wealth of original research, they argue brilliantly for investment and collective intelligence within all organizations and communities, and for a new system in which public and private sectors work innovatively for the common good. We must recalibrate the role of consultants and rebuild economies and governments that are fit for purpose.

©2023 Mariana Mazzucato (P)2023 Penguin Audio

Critic reviews

"A forceful demolition job on the industry." (Adrian Wooldridge)

"The power of government is crucial for driving the economy forward. But only if it retains capacity. Mazzucato and Collington have written a brilliant book that exposes the dangerous consequences of outsourcing state capacity to the consulting industry-and how to build it back. A fascinating look at the biggest players in the game and why this matters for all of us."(Stephanie Kelton, author of The Deficit Myth)

"A powerful indictment of a dubious industry. This book should be read around the globe, and kickstart a debate that's long overdue: Do we really need all those consultants?" (Rutger Bregman, author of Utopia for Realists and Humankind)

a good explanation of the competence crisis

should be read is very interesting. especially if you work in a role where specialised knowledge is needed

Loved the book

The destruction consultancies have caused is just astonishing. The big four are a risk to a stable democracy

A bit superficial, but interesting

As I'm working in consulting, it was an interesting read. Lots of fair criticism for the industry, but the conclusion about the 'con' may be often too strong. She only notices the big scandals and the problems with the consulting industry, and these are fair points, but similar points could be noticed about any area, and in particular academia where Mazzucato works.

The subject

The Outlook for my children is scary and the world is very scary and dark.

Not much in depth - many low-ball critics

This is not a very nuanced approach to reviewing an entire industry. Many of the arguments revolve around the amount of money that is being spent on consultants, and few arguments show how consulting advice was implemented compared to business advice. Of course you can find mistakes made by consultants, but so can we in any other industry. Furthermore, would the business really have done better? I'm not sure from reading this book.