Value theory
Value theory encompasses a range of approaches to understanding how, why, and to what degree persons value things; whether the object of valuing is a person, idea, object, or anything else. This inves...
Value (personal and cultural)
A personal value is an individual's absolute or relative and ethical value, the assumption of which can be the basis for ethical action. A value system is a set of consistent values and measures. A p...
Theory of value (economics)
"Theory of value" is a generic term which encompasses all the theories within economics that attempt to explain the exchange value or price of goods and services. Key questions in economic theory incl...
Value (ethics)
In ethics, value denotes something's degree of importance, with the aim of determining what action of life is best to do or live (deontology), or to describe the significance of different actions (axi...
Intrinsic value (ethics)
Intrinsic value is an ethical and philosophic property. It is the ethical or philosophic value that an object has "in itself" or "for its own sake", as an intrinsic property. An object with intrinsic ...
Instrumental value
Instrumental value (or extrinsic value, contributory value) is the value of objects, both physical objects and abstract objects, not as ends-in-themselves, but as means of achieving something else. I...
Pragmatism
Pragmatism is a philosophical tradition that began in the United States around 1870. Pragmatism is a rejection of the idea that the function of thought is to describe, represent, or mirror reality. In...
Calculation in kind
Calculation in kind or calculation in natura is a way of valuating resources and accounting based on disaggregated physical magnitudes, as opposed to a common unit of calculation. It was proposed to r...
Thoughts and Details on Scarcity
Thoughts and Details on Scarcity, Originally Presented to the Right Hon. William Pitt, in the month of November, 1795 is a memorandum written by the Whig MP Edmund Burke to the Prime Minister of Great...
Post-Scarcity Anarchism
Post-Scarcity Anarchism is a collection of essays by Murray Bookchin, first published in 1971 by Ramparts Press. Bookchin outlines the possible form anarchism might take under conditions of post-scarc...
Theories of Surplus Value
Theories of surplus-value (German: Theorien über den Mehrwert) is a draft manuscript written by Karl Marx between January 1862 and July 1863. It is mainly concerned with the West European theorizi...
Life stance
A person's life stance, or lifestance, is their relation with what they accept as being of ultimate importance. It involves the presuppositions and theories upon which such a stance could be made, a b...
Paradox of value
The paradox of value (also known as the diamond–water paradox) is the apparent contradiction that, although water is on the whole more useful, in terms of survival, than diamonds, diamonds command a ...
Intrinsic theory of value
An intrinsic theory of value (also called theory of objective value) is any theory of value in economics which holds that the value of an object, good or service, is intrinsic or contained in the item...
Economic shortage
A shortage is a disparity between the demand for a product or service and its supply in a market. Specifically, a shortage occurs when there is excess demand; therefore, it is the opposite of a shorta...
Marginal cost
In economics and finance, marginal cost is the change in the total cost that arises when the quantity produced has an increment by unit. That is, it is the cost of producing one more unit of a good. I...
Surplus value
Surplus value is a central concept in Karl Marx's critique of political economy. Marx did not himself invent the term, he developed the concept. "Surplus value" is a translation of the German word "M...
Post-scarcity economy
Post-scarcity is a theoretical alternative form of economics or social engineering in which goods, services and information are universally accessible.This would require a sophisticated system of reso...
Economic rent
In economics, economic rent is any payment to a factor of production in excess of the cost needed to bring that factor into production. In classical economics, economic rent is any payment made (inclu...
Cornering the market
In finance, to corner the market is to get sufficient control of a particular stock, commodity, or other asset to allow the price to be manipulated. Another definition: "To have the greatest market sh...
Marginalism
Marginalism is a theory of economics that attempts to explain the discrepancy in the value of goods and services by reference to their secondary, or marginal, utility. The reason why the price of diam...
Ietsism
Ietsism (Dutch: ietsisme ([itsˈɪsmə]) – "somethingism") is an unspecified belief in an undetermined higher force. In some Eastern European censuses (Albanian, for example), those having iets...
Labor theory of value
The labor theory of value (LTV) is a heterodox economic theory of value that argues that the economic value of a good or service is determined by the total amount of socially necessary labor required ...
Cost-of-production theory of value
In economics, the cost-of-production theory of value is the theory that the price of an object or condition is determined by the sum of the cost of the resources that went into making it. The cost can...
Theory of imputation
In economics, the theory of imputation, first expounded by Carl Menger, maintains that factor prices are determined by output prices.This is the opposite of the labor theory of value maintained by cla...
Deadweight loss
In economics, a deadweight loss (also known as excess burden or allocative inefficiency) is a loss of economic efficiency that can occur when equilibrium for a good or service is not achievable.Causes...
Law of value
The law of value (German: Wertgesetz) is a central concept in Karl Marx's critique of political economy, first expounded in his polemic The Poverty of Philosophy (1847) against Pierre-Joseph Proudhon...
Marxism
Marxism is a worldview and method of societal analysis that focuses on class relations and societal conflict, that uses a materialist interpretation of historical development, and a dialectical view o...
Value system
A value system is a set of consistent ethic values (more specifically the personal and cultural values) and measures used for the purpose of ethical or ideological integrity. A well defined value syst...
Pragmatic ethics
Pragmatic ethics is a theory of normative philosophical ethics. Ethical pragmatists, such as John Dewey, believe that some societies have progressed morally in much the way they have attained progres...