Item Link: Access the Resource
Media Type: News / Op - Ed
Date of Publication: April 18, 2018
Year of Publication: 2018
Publisher: Macmillan Publishers Limited, Springer Nature
Author(s): Robert Costanza
Robert Costanza reviews Mariana Mazzucato’s recently published book, The Value of Everything: Making and Taking in the Global Economy:
Mazzucato lays out disturbing implications of the marginalist approach. These include (mis)measuring national income and real wealth, confusing financial speculation with the production of value, perverting the patent system (which stifles, rather than rewards, innovation) and undervaluing government and public goods, including public infrastructure, ecosystems and social networks. Her engaging and insightful exploration reveals how embedded the marginalist approach has become, and how it distorts economies’ ability to foster innovation, equity and real progress.