Latest Issue

Perils of the free market

Public value must come back into economic thinking

By Fran Boait   May 2018
Father of the Free Market: David Ricardo

Father of the Free Market: David Ricardo

Mariana Mazzucato offers an exposé 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.

She lays out the long intellectual backstory, describing 200 years of economic thought in which those who simply sought to extract from value-creating activity used to be regarded as parasitic—including by the classical liberal economists such as Adam Smith and David Ricardo. So how…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to

More From Prospect