The Importance of Organization in the Public Sector

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Value is potentially created collectively by different types of actors, he says. The third sector has become so the voluntary philanthropic sectors are increasingly important. Trade unions were a fundamental force in capitalism to make it work as it currently does - and we should never forget them.

Economist and author Mariana Mazzucato talks about her book The Value of Everything with EconTalk host Russ Roberts. Mazzucato argues that economists have mismeasured value and have failed to appreciate the role of government as innovator. She argues for a more active role for government in the innovation process and for government to share in revenue proportional to its role in the creation of new technology.