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The Blurb On The Back:
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 maximise shareholder value, to astronomically high prices of medicines justified through Big Pharma’s ‘value based 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, if we are to reform capitalism - radically to transform an increasingly sick system rather than continue feeding it - we urgently need to rethink where wealth comes from. Who is creating it, who is extracting it, and who is destroying it? Answers to these questions are key if we want to replace the current parasitic system with a type of capitalism that is more sustainable, more symbiotic and that works for us all. The Value Of Everything will reignite a long-needed debate about the kind of world we really want to live in.
( The Review (Cut For Spoilers): )
The Verdict:
Mariana Mazzucato is Professor in the Economics of Innovation and Public Value at University College London. This interesting book makes pertinent points about how value is viewed in economics and how it incentivises companies and executives to engage in behaviour that demonstrably does not add value. It is theory heavy but Mazzucato writes so it’s clear to follow and she makes interesting points about switching to a more stakeholder-focused model.
Thanks to the Amazon Vine Programme for the review copy of this book.
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 maximise shareholder value, to astronomically high prices of medicines justified through Big Pharma’s ‘value based 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, if we are to reform capitalism - radically to transform an increasingly sick system rather than continue feeding it - we urgently need to rethink where wealth comes from. Who is creating it, who is extracting it, and who is destroying it? Answers to these questions are key if we want to replace the current parasitic system with a type of capitalism that is more sustainable, more symbiotic and that works for us all. The Value Of Everything will reignite a long-needed debate about the kind of world we really want to live in.
( The Review (Cut For Spoilers): )
The Verdict:
Mariana Mazzucato is Professor in the Economics of Innovation and Public Value at University College London. This interesting book makes pertinent points about how value is viewed in economics and how it incentivises companies and executives to engage in behaviour that demonstrably does not add value. It is theory heavy but Mazzucato writes so it’s clear to follow and she makes interesting points about switching to a more stakeholder-focused model.
Thanks to the Amazon Vine Programme for the review copy of this book.
