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Objective Value and Economic Thought

M. Northrup Buechner

Presented at: CC 1990

Date: Jun 30, 1990

Ayn Rand's concept of value has revolutionary implications for economics. This course will spell out some of those implications, including: a detailed analysis of the meanings of intrinsic, subjective, and objective value; why intrinsic value and subjective value are invalid concepts; the three concepts of price that follow from the three concepts of value; how the meaning of value in Austrian economics evolved form objective value in Menger to the pure subjectivism of Mises; and resolution of the conflict between the classicists and the marginalists on the origins of value. (Some material covered at The Power of Reason in 1988 will be repeated.)



Handout: none


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