Value of Everything

Making and Taking in the Global Economy

256 pages

English language

Published Nov. 11, 2019 by Penguin Books, Limited.

ISBN:
978-0-14-198076-8
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3 stars (3 reviews)

WINNER OF THE 2019 MADAME DE STAËL PRIZE AND THE 2018 LEONTIEF PRIZE FOR ADVANCING THE FRONTIERS OF ECONOMIC THOUGHT

SHORTLISTED FOR THE FT & MCKINSEY BUSINESS BOOK OF THE YEAR 2018

Who really creates wealth in our world? And how do we decide the value of what they do? At the heart of today's financial and economic crisis is a problem hiding in plain sight.

In modern capitalism, value-extraction is rewarded more highly than value-creation: the productive process that drives a healthy economy and society. From companies driven solely to maximize shareholder value to astronomically high prices of medicines justified through big pharma's 'value pricing', we misidentify taking with making, and have lost sight of what value really means. Once a central plank of economic thought, this concept of value - what it is, why it matters to us - is simply no longer discussed.

Yet, argues Mariana Mazzucato …

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Subjects

  • Economic history, 21st century
  • Capitalism
  • Value