
Mariana Mazzucato: Rethinking Value
Long Now
The Importance of Subjectivity in Economics
When we subjectify value, when we put so much attention just to individual decisions and kind of remove our focus to the objective conditions of production, that's a problem. So why this matters is because it affects so many things. It affects how we determine GDP. The lack of real transformation or serious debate about what to do with the problems of rents and platform capitalism are also related to this confusion of price with value and the role of the state. And again, think, warn, but people have been warning about the problem of short-termism for a long time.
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