The Real Existing Economy: Value Revisited

Mariana Mazzucato Value

GM/caw 2019 Mariana Mazzucato’s  new book is a brilliantly competent and intelligent tour de force about the real existing economy. Her sociological habit of correlating academic economic thought with historic economic realities, relentless demolition of mainstream dogma, forensic analysis of the real flows of power and money and, last but not least, unequivocal rejection of the “money is neutral” mantra combine to elevate this masterpiece of political economy into a potential pillar of the next economic paradigm.     

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Reviews of “The Value of Everything” 2018 review by Wannaphong Durongkaveroj

In The Value of Everything: Making and Taking in the Global Economy, Mariana Mazzucato explores the concept of value today, showing how value extraction is now more highly rewarded than value creation. This is a meticulous and insightful analysis of value in the economy that will help to reopen the debate into ‘the value of everything’, writes Wannaphong Durongkaveroj.

2018 podcast of Mariana Mazzucato’s LSE lecture, ‘The Value of Everything‘  here

“This economist has a plan to fix capitalism. It’s time we all listened” says WIRED’s Joao Medeiros in this  “long read”. Or listen to Mariana Mazzucato speaking at “WIRED Smarter” at King’s Place in London on October 30, 2019. Click here to find out more

A stimulating analysis of the underlying causes of inequality and growth which forces us to confront long-held beliefs about how economies work and who benefits. … The book itself adds value by forcing us to confront these points. Martin Wolf, Financial Times

Someone should make a musical out of this book. That is quite unlikely, I grant you, but not as unlikely as it sounds. In 1893 the Savoy theatre staged Gilbert and Sullivan’s penultimate operetta, Utopia, Limited … It is time to rework the idea and Mariana Mazzucato is a candidate to write the libretto. Philip Collins, The Times

As Mariana Mazzucuto’s new book, published today, explains, our economy has been financialised and no longer rewards real value creation. Chi Onwurah, New Statesman

Some economists merely interpret the world in various ways; others seek to change it. Mariana Mazzucato is an exemplar of the latter kind. The Italian-American is a restless thinker drawn to transformative, disruptive projects. … Mazzucato’s mission is to overturn the now dominant neoclassical theory of value. In the mid-19th century, she explained, an intellectual revolution occurred: rather than value determining price, price began to determine value. – George Eaton  New Statesman

Mariana Mazzucato … argues that we urgently need to rethink where wealth comes from to heal a sick system. – Richard Kilgarriff  Management Today

Mariana Mazzucato offers an expose of how value extractors and rent-seekers have been masquerading as value creators in the global economy. And, furthermore, how the conventional wisdom has indulged them in this. – Fran Boait  Prospect

In The Value of Everything, published last week, Mazzucato sharpens her focus, not only lauding the role of ‘mission-oriented’ public investment, but honing her critique of the private sector too. – Liam Halligan  The Spectator

The Value of Everything is receiving accolades on Twitter from finance ministers and student idealists alike, and is clearly set to be essential summer reading for civil servants. – Delphine Strauss  Financial Times


“The value of everything: rediscovering purpose in the economy” presentation at the Blavatnik School of Government  Jan 2019 3-2021 professor-mariana-mazzucato-on-how t create value – Yancey Strickler

David Harvey talks about Mariana Mazzucato’s “The Value of Everything Feb 2019

Reviews of her previous book  “The Entrepreneurial State”

Conventional economics offers abstract models; conventional wisdom insists that the answer lies with private entrepreneurship. In this brilliant book, Mariana Mazzucato … argues that the former is useless and the latter incomplete.” Martin Wolf  FinancialTimes

One of the most incisive economic books in years. Jeffery Madrick, New York Review of Books


Martin Wolf and Mariana Mazzucato  in conversation at the Commission on Economic Justice conference  Nov 2017

Mariana Mazzucato argues that the idea that entrepreneurship is confined to the private sector is wrong. In fact, while often considered “inefficient,” the state is among the shrewdest investors in innovation—and deserves its fair share of the rewards.

Who should get the fruits of innovation? Today, the gains are hoarded by corporations like Apple or Tesla. But University College London professor and INET grantee Mariana Mazzucato has a different answer: The state should reap the returns that its massive investment in innovation has generated.  Read more