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Objective Value vs. Modern Economics

M. Northrup Buechner

Presented at: IRM 1994

Date: Jul 16, 1994

Ayn Rand's concept of objective value stands as a revolutionary answer to the invalid concepts of intrinsic and subjective value that have dominated economic thought. This course discusses some of the many ways in which objective value changes the science of economics from the ground up. Dr. Buechner focuses on five fundamental issues: 1) the basic premises of economic knowledge; 2) the fundamental components of the economy; 3) the nature of price determination; 4) the law of supply and demand; and 5) the standard for evaluating prices. Other topics include: the defining characteristic of economics, the preconditions of economic value, the relation between optional values and objective values, the factors underlying the ranking of economic values, the nature of irrational and subjective values, and the difference between objective economic value and objective moral value. (Some material covered at previous conferences will be repeated.) 


Parts: 4

Handout: none


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