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Social Value is a study by Benjamin McAleste Anderson. It presents a vital and constructive research regarding economic theory and describes a wide range of causes and effects related to the market.
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Humankind’s progress has always been driven by two momentums: the pursuit of truth and the creation of value. But our understanding of value, and our ability to reflect on its complexity, has long lagged behind our constant search for truth. This has, in turn limited our grasp of the essence of truth. This book takes philosophical contemplations on value to a new level, while also explicating some contemporary Chinese styles of philosophical thought. Over the past 25 years, this book has been having an increasing impact on Chinese readers and researchers, and it also provides a good platform for international dialogue on several key issues of philosophical studies.
Excerpt from A Study in the Theory of Value The thesis which I wish to defend in the present essay is a very common one, believed, I think, by most people, but usually only approximately and only half-heartedly, and expressed vaguely if expressed at all. Some such belief is in fact present whenever we reflect upon acts that stir our interest; but the belief baldly expressed in propositions sounds fanciful or weak or sentimental, and we avoid pronouncing it clearly in much the same way as that in which we hurry over an expression in an unfamiliar language - partly from modesty, but. Mostly from fear of appearing ridiculous and from inner conviction Of ignorance. Our belief, in other words, not Only seems to us sentimental and weak when we approach the formulation of it in a creed, but it actually is sentimental and weak when thus formulated, and this for the reason that we have not taken the trouble to make the formulation accurate or definite. On the one hand we are afraid of seeming. Sentimental; on the other hand we do not know what our belief really is, nor what definite formula embodying it will stand the test of logical criticism. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
This book develops a unified treatment of the income distribution–capital–value problems with respect to actual economies, and then gradually turns to the issues of effective demand and capitalist accumulation fluctuations from both political economy and economic policy perspectives. That treatment, on the one hand, places produced means of production, positive profits, and capital accumulation at the centre of the analysis and, on the other hand, is analytically based on the modern control theory. Hence, the authors’ investigation is concerned with input–output representations of actual single and joint production, heterogeneous labour, and open economies; zeroes in on the characteristic value distributions of the system matrices; and, finally, derives meaningful theoretical results consistent with the empirical evidence, and vice versa. The main topics addressed are the uncontrollable/unobservable aspects of the real-world economies, the powerful low-order spectral approximations and reconstructions of the inter-industry structure of production–value–distributive variables relationships, the critical-constructive appraisal of both “mainstream” and “radical” theories of value, the matrix demand multipliers and demand-switching policies in heterogeneous capital worlds, and the circular inter-actions amongst income distribution, effective demand, accumulation, and technical conditions of production. Written on the occasion of the 60th anniversary of the publication of both Piero Sraffa’s Production of Commodities by Means of Commodities and Rudolf E. Kalman’s paper “On the general theory of control systems”, this book provides a consistent and comprehensive framework for theoretical, empirical, and economic policy research.