The Value of Everything Making and Taking in the Global Economy 2nd edition by Mariana Mazzucato – Ebook PDF Instant Download/Delivery: 0141980761, 978-0141980768
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ISBN 10: 0141980761
ISBN 13: 978-0141980768
Author: Mariana Mazzucato
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 in this penetrating and passionate new book, 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. Which activities create it, which extract it, which destroy 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 – that works for us all. The Value of Everything reigniteS a long-needed debate about the kind of world we really want to live in.
The Value of Everything Making and Taking in the Global Economy 2nd Table of contents:
1. A Brief History of Value
The Mercantilists: Trade and Treasure
The Physiocrats: The Answer Lies in the Soil
Classical Economics: Value in Labour
2. Value in the Eye of the Beholder: The Rise of the Marginalists
New Times, New Theory
The Eclipse of the Classicals
From Objective to Subjective: A New Theory of Value Based on Preferences
The Rise of the ‘Neoclassicals’
The Disappearance of Rent and Why it Matters
3. Measuring the Wealth of Nations
GDP: A Social Convention
The System of National Accounts Comes into Being
Measuring Government Value Added in GDP
Something Odd About the National Accounts: GDP Facit Saltus!
Patching Up the National Accounts isn’t Enough
4. Finance: A Colossus is Born
Banks and Financial Markets Become Allies
The Banking Problem
Deregulation and the Seeds of the Crash
The Lords of (Money) Creation
Finance and the ‘Real’ Economy
From Claims on Profit to Claims on Claims
A Debt in the Family
5. The Rise of Casino Capitalism
Prometheus (with a Pilot’s Licence) Unbound
New Actors in the Economy
How Finance Extracts Value
6. Financialization of the Real Economy
The Buy-back Blowback
Maximizing Shareholder Value
The Retreat of ‘Patient’ Capital
Short-Termism and Unproductive Investment
Financialization and Inequality
From Maximizing Shareholder Value to Stakeholder Value
7. Extracting Value through the Innovation Economy
Stories about Value Creation
Where Does Innovation Come From?
Financing Innovation
Patented Value Extraction
Unproductive Entrepreneurship
Pricing Pharmaceuticals
Network Effects and First-mover Advantages
Creating and Extracting Digital Value
Sharing Risks and Rewards
8. Undervaluing the Public Sector
The Myths of Austerity
Government Value in the History of Economic Thought
Keynes and Counter-cyclical Government
Government in the National Accounts
Public Choice Theory: Rationalizing Privatization and Outsourcing
Regaining Confidence and Setting Missions
Public and Private Just Deserts
From Public Goods to Public Value
9. The Economics of Hope
Markets as Outcomes
Take the Economy on a Mission
A Better Future for All
Discover More
About the Author
Bibliography
Praise for “The Value of Everything”
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Tags: Mariana Mazzucato, The Value, Global Economy


