Understanding the Changing Calculation of Value

The video discusses the shift in value theory from economics to business, focusing on shareholder value. It critiques the emphasis on maximizing shareholder value and explores alternative ways to measure value beyond prices, referencing Adam Smith and David Ricardo. The limitations of GDP in measuring true value are highlighted, noting the difference between rents and profits. The video concludes by emphasizing the collective creation of value, particularly in pharmaceuticals, and the significant taxpayer contributions to research.

In what ways does the text suggest that GDP measurement fails to capture true value?

What implications does the author suggest regarding the collective creation of value and its impact on inequality?