The Economics of Cost, Use, and Value: The Evaluation of Performance, Structure, and Prices Across Time, Space, and Economic Systems
- ISBN-10
- 0198283830
- ISBN-13
- 9780198283836
- Category
- Philosophy (General)
- Pages
- 197
- Language
- English
- Published
- 1992
- Publisher
- Clarendon Press
- Author
- Francis Seton
Description
This book offers a conceptual scheme for an integrated analysis of prices and values. The proposed system covers both factor and commodity valuations and is more general in application than the standard systems previously established, in that it provides a framework from which neo-classical,Marxian, and Sraffa-type price concepts can all be derived as special cases. In the first edition of this book, Cost, Use, and Value (1985), the author put forward the concept of goods and factor valuations, termed 'eigenprices'. This edition goes on to interpret the 'dual' of eigenprices, to be termed 'eigenfinals', as the 'warranted final deliveries' of the economy, suchthat the employment generated, if paid in (national) eigenprices would be just sufficient to create their own demand. The second edition is more accessible and contains an expanded exposition, improved notes, and additional empirical material.
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