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.
Mariana Mazzucato is Professor in the Economics of Innovation & Public Value, University College London (UCL), where she is establishing a new Institute for Innovation and Public Purpose, and author of the highly-acclaimed The Entrepreneurial State- Debunking Public vs. Private Sector Myths. She advises policymakers around the world on how to deliver 'smart', inclusive and sustainable growth, including work commissioned by NASA, the European Space Agency, and the Inter-American Development Bank.
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