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The Development of Value Theory: Naturalism Theory of Value

Zou Ping

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Abstract

This paper argues that the past theory of value focused on three aspects: the conflict between subjective and objective theory of value, the deviation of the natural order from the economic order, and the converging of demanddecision theory with the supplydecision theory. It then shows that the present theory of value has the following drawbacks: the concept of value is not clear, the concepts of value and price are confused, the shortage of utility theory of value and the shortage of the labor theory of value. At last, it discusses the development prospect of the theory of value and puts forward that the naturism theory of value has a more profound meaning and is important for economic theory and practice.

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What this paper is about

This paper argues that the past theory of value focused on three aspects: the conflict between subjective and objective theory of value, the deviation of the natural order from the economic order, and the converging of demanddecision theory with the supplydecision theory. It then shows that the present theory of value has the following drawbacks: the concept of value is not clear, the concepts of value and price are confused, the shortage of utility theory of value and the shortage of the labor theory of value. At last, it discusses the development prospect of the theory of value and puts forward that the naturism theory of value has a more profound meaning and is important for economic theory and practice.

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Available abstract

This paper argues that the past theory of value focused on three aspects: the conflict between subjective and objective theory of value, the deviation of the natural order from the economic order, and the converging of demanddecision theory with the supplydecision theory. It then shows that the present theory of value has the following drawbacks: the concept of value is not clear, the concepts of value and price are confused, the shortage of utility theory of value and the shortage of the labor theory of value. At last, it discusses the development prospect of the theory of value and puts forward that the naturism theory of value has a more profound meaning and is important for economic theory and practice.

Key concepts: Value theory, Value (mathematics), Economics, Labor theory of value, Order (exchange), Economic shortage, Order theory, Decision theory

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