The Value of Everything
Making and Taking in the Global Economy
One of the world's foremost economists presents a major new analysis of the crisis in modern capitalism, and how to reform it
Who really creates wealth in our world? And how do we decide the value of what they do? In modern capitalism, value-extraction - the siphoning off of profits, from shareholders' dividends to bankers' bonuses - is rewarded more highly than value-creation: the productive process that drives a healthy economy and society. We misidentify takers as makers, and have lost sight of what value really means. Yet, argues Mariana Mazzucato in this penetrating and passionate new book, if we are to reform capitalism we urgently need to rethink where wealth comes from. Who is creating it, who is extracting it, and who is destroying it? The Value of Everything will reignite a long-needed debate about the kind of world we really want to live in.
Praise for The Value of Everything
Praise for The Entrepreneurial State: Conventional economics offers abstract models; conventional wisdom insists that the answer lies with private entrepreneurship. In this brilliant book, Mariana Mazzucato...argues that the former is useless and the latter incomplete.Martin Wolf, Financial Times
One of the most incisive economic books in years.Jeffery Madrick, New York Review of Books