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Title The Constitution of Value
Authors Dave, D.
Keywords споживна вартість
потребительская стоимость
use value
вартість
стоимость
value
потреба
потребность
need
форми вартості
формы стоимости
forms of value
складена вартість
составная стоимость
compound value
комплексна вартість
комплексная стоимость
complex value
мінова вартість
меновая стоимость
exchange value
бутафорська вартість
бутафорская стоимость
mock value
Type Article
Date of Issue 2022
URI https://essuir.sumdu.edu.ua/handle/123456789/88381
Publisher Sumy State University
License Creative Commons Attribution 4.0 International License
Citation Harshad, D. (2022). The Constitution of Value. Financial Markets, Institutions and Risks, 6(2), 75- 90. http://doi.org/10.21272/fmir.6(2).75-90.2022
Abstract Value is a vital term of economics. Veteran economists of past and present have worked on it to determine its constitution. Passing through the historical works done by many thinkers and philosophers on value, one will learn that there are various theories to explain the profile and nature of value, but each one is with some controversy. Unfortunately debates on it remain endless. Looking to the points of debates on it, it seems that we need to review our path of basic understanding about value. Here an innovative attempt is made to reveal the realistic constitution of value. The use value is framed with three basic conditions. The use value is knowledge in the mind of man. The value is separated and made independent from the forms of value like exchange value, compound value, complex value, and others. Further to this, the use value is designated as prime source of the value. The value is explained with basic four conditions and simultaneous fulfillment of all the four conditions is mandatory for the existence of the value. The value is just a sense and feeling only. The use value and value are independent from the forms of value (exchange value, compound value, complex value etc). This constitution of the value will remove many controversies, arguments and counter arguments that actually are born from the absence of clarity about real constitution of the value in our mind.
Appears in Collections: Financial Markets, Institutions and Risks (FMIR)

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