Economics - Innovation - Inclusive Growth - Public Purpose

The Value of Everything

Modern economies reward activities that extract value rather than create it. This must change to insure a capitalism that works for us all.

In this scathing indictment of our current global financial system, The Value of Everything rigorously scrutinizes the way in which economic value has been determined and reveals how the difference between value creation and value extraction has become increasingly blurry. Mariana Mazzucato argues that this blurriness allowed certain actors in the economy to portray themselves as value creators, while in reality they were just moving existing value around or, even worse, destroying it.

The book uses case studies–from Silicon Valley to the financial sector to big pharma–to show how the foggy notions of value create confusion between rents and profits, a difference that distorts the measurements of growth and GDP.

The lesson here is urgent and sobering: to rescue our economy from the next, inevitable crisis and to foster longterm economic growth, we will need to rethink capitalism, rethink the role of public policy and the importance of the public sector, and redefine how we measure value in our society.

Book Reviews

How to retool our concept of value

How to retool our concept of value

“Mazzucato’s trenchant analysis is a compelling call to reinvent value as a key concept to help us achieve the world we all want.” Robert Costanza

Perils of the free market

Perils of the free market

“Mariana Mazzucato offers an exposé of how value extractors and rent-seekers have been masquerading as value creators in the global economy. And, furthermore, how the conventional wisdom has indulged them in this.” Fran Boait

What CEOs are reading: April 2018

What CEOs are reading: April 2018

“[…]the normally iron-clad security of shareholder value is challenged as a material motivator, a theme further explored by Mariana Mazzucato in The Value of Everything, Makers and Takers in The Global Economy, who argues that we urgently need to rethink where wealth comes from to heal a sick system.” Richard Kilgarriff

Book Talks for Value of Everything

LSE Public Lecture

LSE Public Lecture

London, United Kingdom – ‘The Value of Everything: making and taking in the global economy’

Resolution Foundation

Resolution Foundation

London, United Kingdom – In conversation with Lord Willetts, Executive Chair of the Resolution Foundation, on the new book The Value of Everything. “Wealth creation in the 21st century: who is and isn’t a doing it?”

RSA

RSA

London, United Kingdom – Presentation of the book The Value of Everything with RSA Chief Executive Matthew Taylor.

Professor Mazzucato with the first copy of her book The Value of Everything at the Institute for Innovation and Public Purpose.