WINNER OF THE 2019 MADAME DE STAL PRIZE AND THE 2018 LEONTIEF PRIZE FOR ADVANCING THE FRONTIERS OF ECONOMIC THOUGHT SHORTLISTED FOR THE FT ampamp MCKINSEY BUSINESS BOOK OF THE YEAR 2018Who really creates wealth in our world And how do we decide the value of what they do At the heart of todays financial and economic crisis is a problem hiding in plain sight.In modern capitalism valueextraction is rewarded more highly than valuecreation the productive process that drives a healthy economy and society. From companies driven solely to maximize shareholder value to astronomically high prices of medicines justified through big pharmas value pricing we misidentify taking with making and have lost sight of what value really means. Once a central plank of economic thought this concept of value what it is why it matters to us is simply no longer discussed.