EIRP Proceedings, Vol 12 (2017)

A Short History of Value Theory

Gina Ioan


The economic value theory is the core of economics being a intresting concept for all  philosophers and  classical and neoclassical thinkers economic until today.

The classical thinkers consider that value is born in production process, and only labor is the source of it. This is the Labor Theory of Value. Marginalist Revolution economists found the source of value in exchange, in the market building the Marginal Theory of Value


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