TY  - JOUR
AB  - The objective of this essay is to recast the familiar subjective
value theory underlying neo‐classical (including Austrian) economics as
more of an objectivist albeit individual value theory. The body of
scientific economics remains intact, as well as the political economic
implication of value diversity (which the price system of the
marketplace alone can fully accommodate). What changes is the view that
economic science must assume the meta‐ethical position of subjectivism
and non‐cognitivism, a position that certainly has no place within
economics proper and one that aside from facing many philosophical
difficulties is also incredible from the viewpoint of common sense (thus
posing as an obstacle to the plausibility of neo‐classical economics
when introduced into ordinary political discourse and evaluated
comparatively (e.g. vis‐à‐vis varieties of Marxist
economics).
VL  - 16
IS  - 8
SN  - 0306-8293
DO  - 10.1108/03068298910132972
UR  - https://doi.org/10.1108/03068298910132972
AU  - Machan Tibor R.
PY  - 1989
Y1  - 1989/01/01
TI  - Individual versus Subjective Values
T2  - International Journal of Social Economics
PB  - MCB UP Ltd
SP  - 49
EP  - 59
Y2  - 2024/09/19
ER  -