How Big Companies Pretend to Create Economic Value, While Actually Destroying It
The 2008 global financial crisis revealed that modern economies reward activities that extract economic value rather than create it. In her critically acclaimed book The Value of Everything: Making and Taking in the Global Economy, Mariana Mazzucato asks us to question what is really adding value to the economy so that we can create a new form of capitalism that works for us all.
At a recent discussion, Mazzucato explained how companies from Silicon Valley to the financial sector to Big Pharma have used foggy notions of value to create confusion between rents and profits—portraying themselves as value creators, while in reality merely moving existing value around or, even worse, destroying them.
Watch the video of the entire event above, or listen to audio below.