The Value of Everything: Making and Taking in the Global Economy

A New Framework for Understanding the Economy

In her groundbreaking book, Mariana Mazzucato challenges the conventional wisdom about how the economy works. She argues that the value of goods and services is not simply created by the private sector, but rather is the result of a complex interplay between public and private actors.

Mazzucato's framework, which she calls "the value web," shows how the public sector plays a vital role in creating the conditions for private sector innovation and growth. For example, the government provides funding for basic research, builds infrastructure, and creates regulations that protect consumers and workers. These public investments create a foundation on which private businesses can build their success.

The Case for a More Active Government

Mazzucato's analysis has profound implications for economic policy. She argues that the government should play a more active role in the economy, not only to correct market failures, but also to create the conditions for sustainable growth. This means investing in public goods and services, such as education, healthcare, and infrastructure. It also means creating policies that encourage innovation and competition.

Mazzucato's book is a powerful indictment of the current economic orthodoxy. She shows that the private sector is not the only engine of growth, and that the government has a vital role to play in creating a more prosperous and sustainable economy.

Key Concepts

• The value web: The complex interplay between public and private actors that creates the value of goods and services.
• Public investment: The government's investment in basic research, infrastructure, and other public goods and services.
• Market failures: Situations in which the private sector is unable or unwilling to provide goods and services that are needed by society.
• Sustainable growth: Economic growth that does not damage the environment or deplete natural resources.

Why You Should Read This Book

• If you want to understand how the economy really works.
• If you believe that the government should play a more active role in the economy.
• If you are interested in sustainable growth.

Praise for The Value of Everything

"A brilliant and provocative book that challenges the conventional wisdom about how the economy works. Mazzucato shows that the private sector is not the only engine of growth, and that the government has a vital role to play in creating a more prosperous and sustainable economy." —Joseph E. Stiglitz, Nobel laureate in economics

"A must-read for anyone who wants to understand the global economy. Mazzucato provides a new framework for understanding how value is created, and she shows how the government can play a more active role in promoting economic growth." —Ha-Joon Chang, author of 23 Things They Don't Tell You About Capitalism

"A tour de force. Mazzucato's book is a powerful indictment of the current economic orthodoxy. She shows that the private sector is not the only engine of growth, and that the government has a vital role to play in creating a more prosperous and sustainable economy." —Robert B. Reich, former U.S. Secretary of Labor