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The Value of Everything

The Value of Everything

Making and Taking in the Global Economy

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.
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Genre: Nonfiction / Business & Economics / Economics / Microeconomics

On Sale: September 11th 2018

Price: $28 / $36.5 (CDN)

Page Count: 384

ISBN-13: 9781610396745

What's Inside

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"A stimulating analysis of the underlying causes of inequality and growth which forces us to confront long-held beliefs about how economies work and who benefits"
--Martin Wolf, Financial Times
"Mazzucato's mission is to overturn the now dominant neoclassical theory of value."
--George Eaton for New Statesman
"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 for Prospect
Praise for The Entrepreneurial State

"Mazzucato's ideas are fuel for a growing political debate about what portion of the country's wealth pie should be taken by the private sector." --Rana Foroohar, TIME

"Read her book. It will challenge your thinking."-Bruce Upbin, Forbes

"It is one of the most incisive economic books in years." --Jeff Madrick, New York Review of Books

"Mariana Mazzucato makes a very convincing argument . . . . from the iPhone to solar power to nanotechnology to pharmaceuticals, government did much of the basic research before venture capitalists stepped in and took the profit." --Los Angeles Review of Books, Tom Streithorst

"Increasingly, however, economists and social thinkers are challenging the conventional wisdom on innovation... Mariana Mazzucato described the most notable technology innovations as coming from the government, not the private sector." --Quentin Hardy, New York Times

"This book has a controversial thesis. But it is basically right. The failure to recognise the role of the government in driving innovation may well be the greatest threat to rising prosperity." --Martin Wolf, Financial Times

"Mariana Mazzucato ... has built up an ever bigger following for The Entrepreneurial State, which argues that government has played a big role in creating innovation . . . . It's a serious book, and its subject is an important one. Where innovation comes from is one of the most important, and perhaps least understood, topics in economics." --Matthew Lynn, The Telegraph

"[M]ost major technological advances of the last decades have been publicly financed. As Mariana Mazzucato shows in The Entrepreneurial State, all the major advances that made the iPhone possible were publicly funded, from the touch screen to GPS." --Doug Henwood, The Nation

"The iPhone exists--as Mariana Mazzucato demonstrated in her book--because various branches of the US government provided research assistance that resulted in several key technological developments . . . . " --Jill Lepore, The New Yorker

Meet The Author: Mariana Mazzucato

Mariana Mazzucato is Professor in the Economics of Innovation and Public Value at University College London (UCL) where she is also Founder and Director of the Institute for Innovation and Public Purpose. She is author of the highly-acclaimed book The Entrepreneurial State: Debunking Public vs. Private Sector Myths, and winner of the 2014 New Statesman SPERI Prize in Political Economy, the 2015 Hans-Matthöfer-Preis and the 2018 Leontief Prize for Advancing the Frontiers of Economic Thought. She has advised policymakers around the world on how to deliver ‘smart’, inclusive and sustainable growth.  In 2013 she was named as one of the ‘3 most important thinkers about innovation’ in the New Republic.

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