Big pharma, Silicon Valley and the financial sectors are heralded as great value creators that drive technological innovation. However, economist Mariana Mazzucato (marianamazzuca...) argues they often artificially inflate or destroy existing value. In her new book “The Value of Everything,” Mazzucato calls for a rethink of who the makers and takers are in the global economy. She joins host Steve Paikin to discuss her latest book and the ideas of public value.
0:00 Intro
3:47 Excerpt from the book (defining value)
5:05 History of economic thought
7:37 Productivity and price
8:25 Rent as unearned income
9:10 Where is value created?
10:00 Pharmaceutical innovation and increased financialization
11:40 Public value
12:42 How to measure the value of government services and activity
14:25 Example of Tesla (socialize the cost privatize the profits)
19:50 When will these ideas be implemented?
22:13 Debt vs deficit debate
23:40 Countries to emulate