San Francisco, United States – Mazzucato to deliver a seminar on rethinking value at the Long Now Foundation
Capgemini’s Applied Innovation Exchange, 425 Brannan St., San Francisco, CA 94107
One way to understand the plight of the tech world right now is to pull back and understand the field of economics in the last 400 years. For much of that time the field has debated where value in the economy actually comes from – such as land, labor, capital. And crucially, what the difference is between value creation and value extraction. According to economist Mariana Mazzucato, our featured guest at September’s What’s Now: San Francisco, it is necessary first to publicly debate what types of activities really add value to our economy—and how to limit value extraction that masquerades as wealth creation—so that we can create a new form of capitalism that works for us all, including in the tech industry.
Pier 3, The Embarcadero, San Francisco, CA 94109
Discussion with Tim O’ Reilly followed by audience Q&A and book signing.
Open Society Foundations, 224 West 57th Street, New York, NY 10019
Moderated by Jeff Madrick – author, director of the Bernard L. Schwartz Rediscovering Government Initiative, and senior fellow at The Century Foundation.
The 2008 global financial crisis revealed that modern economies reward activities that extract economic value rather than create it. Join us for a discussion with Mazzucato as she demonstrates how companies from Silicon Valley to the financial sector to big pharma have used foggy notions of value to create confusion between rents and profits—thereby allowing themselves to be portrayed as value creators, while in reality they are merely moving existing value around or, even worse, destroying it. Only by debating and ultimately reclaiming the true meaning of value will it be possible to generate a fairer economy that benefits all of society. A reception, with light refreshments, will be held from 5:30–6:00 p.m.
1818 H Street NW, Washington, DC 20433
Please RSVP to Brooke.Parsons@hbgusa.com
Today, the financial sector and the ‘financialized’ world breeds a mentality that distorts economic growth and increases wealth disparity. Top executives choose to spend a greater proportion of profits on share buy-backs rather than on investing in the long-term future of the business. They call it value creation but the reality is often the opposite: value extraction. So who decided that they are creating value? What definition of value is used to distinguish value creation from value extraction, or even from value destruction?