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...
Value (personal and cultural) - Wikipedia
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...
Pragmatism - Wikipedia
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...
Post-Scarcity Anarchism - Wikipedia
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...
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...
Theories of Surplus Value - Wikipedia
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 ...
Paradox of value - Wikipedia
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...
Marginal rate of substitution
In economics, the marginal rate of substitution is the rate at which a consumer is ready to give up one good in exchange for another good while maintaining the same level of utility. At equilibrium c...
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...
Surplus value - Wikipedia
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...
Scarcity value
Scarcity value is the economic factor that increases an item's relative price based more upon its relatively low supply. Whereas the prices of newly manufactured products depends mostly on the cost of...
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...
Marginalism - Wikipedia
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...
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...
Marxism - Wikipedia
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...
Effect of taxes and subsidies on price
Taxes and subsidies change the price of goods and, as a result, the quantity consumed.
Marginal subsidies on production will shift the supply curve to the right until the vertical distance between...
Effect of taxes and subsidies on price - Wikipedia
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...
Subjective theory of value
The subjective theory of value is a theory of value which advances the idea that the value of a good is not determined by any inherent property of the good, nor by the amount of labor required to prod...
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...
Criticisms of the labour theory of value
Criticisms of the labor theory of value often arise from an economic criticism of Marxism.
Adherents of neoclassical economics, the currently predominant school, employ the theory of marginalism,...
Artificial scarcity
Artificial scarcity describes the scarcity of items even though either the technology and production capacity exists to create an abundance, as well as the use of intellectual property laws to create ...
Hoarding (economics)
In economics, hoarding is the practice of obtaining and holding scarce resources, possibly so that they can be sold to customers for profit.
Under capitalist theory, if this is done so that the re...
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...