The fourth lecture discusses the concept of public value. The first part of the lecture introduces the context of the development of public value, including ideas around New Public Management (NPM), New Labour’s approach to government and the limitations of the performance management techniques associated with NPM. The lecture then describes the development of public value, from its origins in Mark Moore’s work through to its current, fragmented, use in British public administration today. Following this discussion the lecture concludes with a discussion of how public value has been used in cultural policy, as the idea of cultural value.