The value of everything: making and taking in the global economy
"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...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
New York
Public Affairs
[2020]
|
| Ausgabe: | First trade paperback edition |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Zusammenfassung: | "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 will reignite a long-needed debate about the kind of world we really want to live in"--Publisher's description |
| Beschreibung: | "First published in Great Britain in 2018 by Allen Lane, an imprint of Penguin Random House UK" |
| Beschreibung: | xix, 359 Seiten Illustrationen 24 cm |
| ISBN: | 9781541758247 9781610396745 1541758242 |
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| 505 | 8 | |a Preface: Stories about wealth creation -- Introduction: Making versus taking -- Common critiques of value extraction -- What is value? -- Meet the production boundary -- Why value theory matters -- The structure of this book -- 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 -- | |
| 505 | 8 | |a Banks and financial markers 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 license) 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 -- | |
| 505 | 8 | |a 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 | |
| 520 | 3 | |a "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 will reignite a long-needed debate about the kind of world we really want to live in"--Publisher's description | |
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Datensatz im Suchindex
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| adam_text | Contents Acknowledgements xi Preface: Stories About Wealth Creation xiii Introduction: Making versus Taking i Common Critiques of Value Extraction 4 What is Value? 6 Meet the Production Boundary 8 Why Value Theory Matters n The Structure of the Book 15 1. A Brief History of Value 2.1 The Mercantilists: Trade and Treasure 22 The Physiocrats: The Answer Lies in the Soil 28 Classical Economics: Value in Labour 33 2. Value in the Eye of the Beholder: The Rise of the Marginalists 57 New Times, New Theory 58 The Eclipse of the Classicals 59 From Objective to Subjective: A New Theory of Value Based on Preferences 60 The Rise of the ‘Neoclassicals’ 62 The Disappearance of Rent and Why it Matters 71 3. Measuring the Wealth of Nations 75 GDP: A Social Convention 76 The System of National Accounts Comes into Being 83 vii
CONTENTS Measuring Government Value Added in GDP 85 Something Odd About the National Accounts: GDP Facit Saltus! 90 Patching Up the National Accounts isn’t Enough 98 4. Finance: A Colossus is Born 101 Banks and Financial Markets Become Allies 103 The Banking Problem 104 Deregulation and the Seeds of the Crash no The Lords of (Money) Creation 115 Finance and the‘Real’Economy 117 From Claims on Profit to Claims on Claims 122 A Debt in the Family 127 5. The Rise of Casino Capitalism 135 Prometheus (with a Pilot’s Licence) Unbound 137 New Actors in the Economy 142 How Finance Extracts Value 146 6. Financialization of the Real Economy 161 The Buy-back Blowback 162 Maximizing Shareholder Value 165 The Retreat of ‘Patient’ Capital 171 Short-Termism and Unproductive Investment 174 Financialization and Inequality 177 From Maximizing Shareholder Value to Stakeholder Value 183 7. Extracting Value through the Innovation Economy 189 Stories about Value Creation 189 Where Does Innovation Come From? 191 Financing Innovation 195 viii
CONTENTS Patented Value Extraction 202 Unproductive Entrepreneurship 206 Pricing Pharmaceuticals 207 Network Effects and First-mover Advantages 213 Creating and Extracting Digital Value 219 Sharing Risks and Rewards 222 8. Undervaluing the Public Sector 229 The Myths of Austerity 233 Government Value in the History of Economic Thought 239 Keynes and Counter-cyclical Government 241 Government in the National Accounts 245 Public Choice Theory: Rationalizing Privatization and Outsourcing 249 Regaining Confidence and Setting Missions 259 Public and Private Just Deserts 263 From Public Goods to Public Value 264 9. The Economics of Hope 270 Markets as Outcomes 274 Take the Economy on a Mission 277 A Better Future for All 279 Bibliography 281 Notes 297 Index 331 ix
|
| adam_txt |
Contents Acknowledgements xi Preface: Stories About Wealth Creation xiii Introduction: Making versus Taking i Common Critiques of Value Extraction 4 What is Value? 6 Meet the Production Boundary 8 Why Value Theory Matters n The Structure of the Book 15 1. A Brief History of Value 2.1 The Mercantilists: Trade and Treasure 22 The Physiocrats: The Answer Lies in the Soil 28 Classical Economics: Value in Labour 33 2. Value in the Eye of the Beholder: The Rise of the Marginalists 57 New Times, New Theory 58 The Eclipse of the Classicals 59 From Objective to Subjective: A New Theory of Value Based on Preferences 60 The Rise of the ‘Neoclassicals’ 62 The Disappearance of Rent and Why it Matters 71 3. Measuring the Wealth of Nations 75 GDP: A Social Convention 76 The System of National Accounts Comes into Being 83 vii
CONTENTS Measuring Government Value Added in GDP 85 Something Odd About the National Accounts: GDP Facit Saltus! 90 Patching Up the National Accounts isn’t Enough 98 4. Finance: A Colossus is Born 101 Banks and Financial Markets Become Allies 103 The Banking Problem 104 Deregulation and the Seeds of the Crash no The Lords of (Money) Creation 115 Finance and the‘Real’Economy 117 From Claims on Profit to Claims on Claims 122 A Debt in the Family 127 5. The Rise of Casino Capitalism 135 Prometheus (with a Pilot’s Licence) Unbound 137 New Actors in the Economy 142 How Finance Extracts Value 146 6. Financialization of the Real Economy 161 The Buy-back Blowback 162 Maximizing Shareholder Value 165 The Retreat of ‘Patient’ Capital 171 Short-Termism and Unproductive Investment 174 Financialization and Inequality 177 From Maximizing Shareholder Value to Stakeholder Value 183 7. Extracting Value through the Innovation Economy 189 Stories about Value Creation 189 Where Does Innovation Come From? 191 Financing Innovation 195 viii
CONTENTS Patented Value Extraction 202 Unproductive Entrepreneurship 206 Pricing Pharmaceuticals 207 Network Effects and First-mover Advantages 213 Creating and Extracting Digital Value 219 Sharing Risks and Rewards 222 8. Undervaluing the Public Sector 229 The Myths of Austerity 233 Government Value in the History of Economic Thought 239 Keynes and Counter-cyclical Government 241 Government in the National Accounts 245 Public Choice Theory: Rationalizing Privatization and Outsourcing 249 Regaining Confidence and Setting Missions 259 Public and Private Just Deserts 263 From Public Goods to Public Value 264 9. The Economics of Hope 270 Markets as Outcomes 274 Take the Economy on a Mission 277 A Better Future for All 279 Bibliography 281 Notes 297 Index 331 ix |
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| author | Mazzucato, Mariana 1968- |
| author_GND | (DE-588)171764137 |
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| contents | Preface: Stories about wealth creation -- Introduction: Making versus taking -- Common critiques of value extraction -- What is value? -- Meet the production boundary -- Why value theory matters -- The structure of this book -- 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 markers 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 license) 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 |
| ctrlnum | (OCoLC)1240308479 (DE-599)BVBBV047376406 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| edition | First trade paperback edition |
| format | Book |
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| illustrated | Illustrated |
| index_date | 2024-07-03T17:46:20Z |
| indexdate | 2024-07-10T09:10:25Z |
| institution | BVB |
| isbn | 9781541758247 9781610396745 1541758242 |
| language | English |
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| physical | xix, 359 Seiten Illustrationen 24 cm |
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| publisher | Public Affairs |
| record_format | marc |
| spelling | Mazzucato, Mariana 1968- Verfasser (DE-588)171764137 aut The value of everything making and taking in the global economy Mariana Mazzucato First trade paperback edition New York Public Affairs [2020] xix, 359 Seiten Illustrationen 24 cm txt rdacontent n rdamedia nc rdacarrier "First published in Great Britain in 2018 by Allen Lane, an imprint of Penguin Random House UK" Preface: Stories about wealth creation -- Introduction: Making versus taking -- Common critiques of value extraction -- What is value? -- Meet the production boundary -- Why value theory matters -- The structure of this book -- 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 markers 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 license) 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 "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 will reignite a long-needed debate about the kind of world we really want to live in"--Publisher's description Wirtschaftssoziologie (DE-588)4066514-8 gnd rswk-swf Wert (DE-588)4065654-8 gnd rswk-swf Wertorientierung (DE-588)4132695-7 gnd rswk-swf Value Capitalism Wert (DE-588)4065654-8 s Wertorientierung (DE-588)4132695-7 s Wirtschaftssoziologie (DE-588)4066514-8 s DE-604 Erscheint auch als Online-Ausgabe 978-1-61039-675-2 Digitalisierung UB Augsburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=032778102&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Mazzucato, Mariana 1968- The value of everything making and taking in the global economy Preface: Stories about wealth creation -- Introduction: Making versus taking -- Common critiques of value extraction -- What is value? -- Meet the production boundary -- Why value theory matters -- The structure of this book -- 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 markers 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 license) 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 Wirtschaftssoziologie (DE-588)4066514-8 gnd Wert (DE-588)4065654-8 gnd Wertorientierung (DE-588)4132695-7 gnd |
| subject_GND | (DE-588)4066514-8 (DE-588)4065654-8 (DE-588)4132695-7 |
| title | The value of everything making and taking in the global economy |
| title_auth | The value of everything making and taking in the global economy |
| title_exact_search | The value of everything making and taking in the global economy |
| title_exact_search_txtP | The value of everything making and taking in the global economy |
| title_full | The value of everything making and taking in the global economy Mariana Mazzucato |
| title_fullStr | The value of everything making and taking in the global economy Mariana Mazzucato |
| title_full_unstemmed | The value of everything making and taking in the global economy Mariana Mazzucato |
| title_short | The value of everything |
| title_sort | the value of everything making and taking in the global economy |
| title_sub | making and taking in the global economy |
| topic | Wirtschaftssoziologie (DE-588)4066514-8 gnd Wert (DE-588)4065654-8 gnd Wertorientierung (DE-588)4132695-7 gnd |
| topic_facet | Wirtschaftssoziologie Wert Wertorientierung |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=032778102&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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