Economic Valuation — Links
The nature of value in addition to the methods of valuation every bit around of the trickiest areas of economics, social theory in addition to psychology, besides every bit philosophical logic, ethics in addition to activity theory inwards philosophy every bit foundational studies.
For example, both Adam Smith in addition to Marx were trained philosophers that specialized inwards "moral philosophy, which pivots on value theory. Smith adopted a undertaking theory of value inwards The Wealth of Nations, which fix the musical note for classical economics. Ricardo followed suit. Marx did non accept a undertaking theory of value inwards the same feel exactly rather criticized the classical LTV, showing how value was expropriated from undertaking inwards a monetary production economic scheme through turn a profit conceived of every bit "surplus value" inwards Marx's theory of valuation. This encompasses what nosotros at in 1 lawsuit telephone telephone "financial rent" in addition to "monopoly-monopoly" rent.
Here are a duet of links on such issues inwards economics, the get-go regarding province value in addition to the minute the economical valuation of human life.
Classical economic science was most preventing capture of province rent, which had been the reason of feudalism.
In putting numbers on the value of life, the run a endangerment is rent-extraction resulting from factors non considered inwards the reach in addition to scale of the model — in addition to commonly non admitted.
How to Capture Land Values nether the Current Rules
Andrew Lainton
Econospeak
The Value of Life in addition to the Metaphor of Choice Peter Dorman | Professor of Political Economy, The Evergreen State College
No comments