
The Value of Everything
Makers and Takers in the Global Economy
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Narrated by:
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Amy Finegan
About this listen
Penguin presents the audiobook edition of The Value of Everything by Mariana Mazzucato, read by Amy Finegan.
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.
Critic reviews
important Book - Must read
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Hard but hugely stimulating.
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A greater understanding of how value is extracted from people, companies and the economy is certainly needed. Only recently I was shocked that a friend was about to take a loan at 50% APR, even though they are not really that bad a risk. And had VCs not sold the company I work for it would have gone under before much longer, starved of resources.
It is neither left wing or right wing to want an economy less prone to 'rent seeking' as the book goes over. The complexity of the financial and economic system means there are huge numbers of ways to twist the system to do that. Most likely the job of trying to steer the system in favour of valuable end products and results will be a long one and never end.
It is to some degree a moral question, for example do I seek to gain a patent simply to prevent anyone else working in this area, rather than to protect a legitimate invention? Do I sell houses to people with rip off lease hold contracts where the rent doubles every few years, just to make a higher profit? Will I fail to fix a problem with a car, knowing that it is dangerous and people will die as a result because I don't want to pay for a recall?
I think the author has done a great job researching and bringing these aspects to light and suggesting how things can work better and I am quite certain that we can do better economically with more thought and action in this area.
Valuable!
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Naive but valuable
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Simultaneously insightful and narrowminded
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My No. 1 Book
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Economics with clarity, humanity and hope.
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Great read, awful narrator
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pixies have led us down the wrong path, resulting in ever increasing wealth inequality, and undervalued public services.
Perhaps labours the point a bit too much at times, but it is difficult to argue with the logic or the conclusions.
Thought Provoking although a bit repetitive
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Very important book
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