The Value of Everything

Outline

The Value of Everything (2018) asks a simple but important question: who really creates value in the economy, and who simply extracts it? Mariana Mazzucato traces how economists have defined value over the centuries and argues that modern economies often reward activities that capture wealth rather than create it. She calls for a new understanding of value that recognises the role of workers, businesses, and the public sector.

• The book's central question is who actually creates value in the economy and who merely extracts it.
• Economists have defined value in different ways over the centuries, and those definitions still shape how we judge economic activity.
• Modern economies often reward activities that capture existing wealth rather than activities that produce new wealth.
• Mazzucato calls for a new understanding of value that recognises the roles of workers, businesses, and the public sector.

Mariana Mazzucato is an Italian-American economist and professor at University College London, where she founded the Institute for Innovation and Public Purpose. She advises governments and international organisations on innovation and economic policy. Her books include The Entrepreneurial State, The Value of Everything, and Mission Economy.