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The British North American colonies were the first western economies to rely on legislature-issued paper monies as an important internal media of exchange. This system arose piecemeal. In the absence of banks and treasuries that exchanged paper monies at face value for specie monies on demand, colonial governments experimented with other ways to anchor their paper monies to real values in the economy. These mechanisms included tax-redemption, land-backed loans, sinking funds, interest-bearing notes, and legal tender laws. I assess and explain the structure and performance of these mechanisms. This was monetary experimentation on a grand scale.

This chapter reconsiders commonly held views on the ownership and management of private property, contrasting capitalist and simple property, particularly in relation to how a firm shareholder governance model has shaped society. This consideration is motivated by the scale and scope of the modern global crisis, which has combined financial, economic, social and cultural dimensions to produce world disenchantment.

By contrasting an exchange value standpoint with a use value perspective, this chapter explicates current conditions in which neither the state nor the market prevail in organising economic activity (i.e. cooperative forms of governance and community-created brand value).

This chapter offers recommendations related to formalised conditions for collective action and definitions of common guiding principles that can facilitate new expressions of the principles of coordination. Such behaviours can support the development of common resources, which then should lead to a re-appropriation of the world.

It is necessary to think of enterprises outside a company or firm context when reflecting on the end purpose and means of collective, citizen action. From a methodological standpoint, current approaches or studies that view an enterprise as an organisation, without differentiating it from a company, create a deadlock in relation to entrepreneurial collective action. The absence of a legal definition of enterprise reduces understanding and evaluations of its performance to simply the performance by a company. The implicit shift thus facilitates the assimilation of one with the other, in a funnel effect that reduces collective projects to the sole projects of capital providers.

Because forsaking society as it stands is a radical response, this historical moment makes it necessary to revisit the ideals on which modern societies build, including the philosophy of freedom for all. This utopian concept has produced an ideology that is limited by capitalist notions of private property.

Neoclassic economics is a thing of considerable beauty. It yet finds an increasing tendency on the part of those trained in its discipline to rebel from its neatly fitted abstractions and intriguing diagrams. The rebellion stems from two sources. Veblen's sweeping attacks upon its postulates¹⁶ shock its theoretical foundations. The rapid changes in the industrial and business world discredited it on another front by bringing into increasingly sharp relief the divergence between the institutional assumptions of the orthodox theory and the conditions actually obtaining. The giant corporation, overhead costs, and the necessity for maintenance of volume, industrial concentration, the trade association, a widening spread among income classes, advertising, the growing inability of the consumer to gauge quality, the resort to reorganization instead of the “going out of business” of the long-run analyses – what place could the orthodox theory give to these important characteristics of the existing business economy?

This paper seeks to reconcile two very different views existing in the literature concerning how exchange and demand affect the magnitude of commodity values. Traditionally, value is considered to be created in production and subsequently realized in exchange. An alternative monetary approach posits that exchange itself contributes to the determination of commodity values. Proponents of each view claim that significant parts of Marx’s theory of value are compromised if their interpretation of the role of exchange is not adopted. Drawing on the work of Rosdolsky and Roberts, I argue that it is necessary to distinguish between the effects of exchange and demand. Exchange acts to reduce concrete, private labor to abstract social labor, while demand affects the magnitude of labor considered “socially necessary” in the sense of being expended in accordance with existing social need. I identify a new category of exchange value – the market-price of production – and use it to explain how changes in demand act to redistribute value across industries by affecting the magnitude of abstract labor considered to be socially necessary. In this way the major claim of the two approaches to exchange are reconciled. The magnitude of value is fully determined in production. At the same time monetary exchange effects, or brings about, a social division of labor by reducing concrete, private labor to abstract social labor and by distributing value according to social need as expressed by effective demand.

Building on an analysis of values and prices in the context of explicitly heterogeneous concrete labors, this paper formally examines Marx’s repeated imagery of capitalist competition as a process of “sharing” among “hostile brothers,” each a “shareholder” in a “social enterprise” in which particular commodities and capitals appear as “aliquot parts of the whole.” Approaching each commodity as it appears in competition – as the product of an aliquot part of the aggregate inputs to production – allows several conclusions. First, value-price transformation is equivalent to a transformation of actual production conditions (on the basis of which the social labor contained in the commodity is its value) into socially average or aliquot part production conditions (on the basis of which the social labor contained in the commodity is its production price). Second, price formation (“gravitational” adjustment to levels expressing equivalence) is the same thing as the formation of abstract labor as the homogeneous unit of measure for the labor content of commodities. Each is an aspect of a single process that simultaneously commensurates use-values as market equivalents and commensurates concrete labors as abstract labor, so that equivalents in exchange do indeed “contain” equal amounts of abstract labor. Third, concerning commodity fetishism and the “illusions” of competition, the social content of particular magnitudes becomes visible when each is represented as a “bearer” of crucial characteristics of the aggregate that have been projected onto its parts, so that what initially appears as separate, particular and individual is simultaneously connected, general, and social.

According to the Ministry of Tourism and Creative Economy, there are 7,275 indigenous tourism enterprises in Indonesia. However, only 0.5% of these are certified as a sustainable tourism village. One of them is the Karangrejo village in Borobudur, Indonesia. This village is able to sustain their enterprise, which is a unique and rare context. This study aims to address this gap by examining the sense of place value created from the collaboration between actors, mapping the actors and their resources who have crucial roles in indigenous tourism enterprise, and examining the relations between actors, mapping the characteristics and efforts made by the indigenous tourism enterprise. The novelty of this research is the unique context that it takes place, and the use of comprehensive theoretical perspectives combining architecture, sociological social psychology and marketing/business theories in tourism context, which is uncommon for research in this area.

Participants in this study were 17 individuals, comprising Village Chief, accompanying state-owned enterprises, tourists, owners of micro, small and medium enterprises, village economic center manager and village-owned enterprises manager. Data were collected from interviews and field recordings using purposive sampling technique. The study design was a case study. The data were coded in two steps: first cycle and second cycle coding. Member checking with research participants was conducted to ensure data credibility.

This study revealed several novel findings. First, sense of place value was not merely perceived as material and nonmaterial components, but also as networks between actors that were involved in creating such components within (value) exchange framework. Second, the actors involved in the exchange were provider actor, external supporter actor, internal supporter actor, collaborator actor and consumer actor. Each of these actors owned one or a combination of material and nonmaterial values that are exchangeable. Mapping of the actors involved was discussed using a combined perspective of consumer-centric and balanced network. Third, exchange relations that occurred between actors could be balanced or imbalanced, depending on the amount of resource owned by each actor. Nonetheless, imbalanced relations because of discrepancies in the value contributions could still have positive impact because it was motivated by the intention to help others. Fourth, this study identified the importance of having characteristics as resource integrator/gatherer for indigenous tourism enterprise (provider actor) to ensure the economic sustainability of their business.

This study was conducted during the COVID-19 pandemic, where governments imposed strict travel restrictions. Consequently, data from tourists were limited in particular, the lack of perspectives from international tourists. During the data collection, the government were still limiting international travelers to visit the country, hence only domestic tourists were able to visit. The perspectives of international tourists would have added valuable data. Because of pandemic, the data collection process was initially conducted online, which was then followed by in-person data collection. Online data collection is common in research; however, in-person data collection would have been more preferred, where possible, so that the researchers could directly observe the situation in context. Future research could be conducted after the pandemic ends. Furthermore, findings of this research asserted the importance of actors’ motives, situations, quality of the values and relational attributes, but had not discussed these in detail, especially from the perspective of each actor. Future research could address this limitation.

Enhancing material and nonmaterial sense of place value would involve multiple actors. Therefore, mapping of the resources owned by these actors as well as their roles is critical. To create sense of place value, synergy between actors is essential and could not be achieved by a single actor. Every actor is influenced by motives and circumstances when interacting with the other actor. Awareness of such motives and circumstances where the exchange takes place is necessary, to ensure that the cultivated relationship aligns with the goals and expectations. As exchange relations could be balanced or imbalanced, every actor also needs to be aware of their position and continuously evaluate it to avoid being constantly in a powerless position. Indigenous tourism enterprise could not singlehandedly provide every resource needed. Therefore, developing a character as a gatherer/resource integrator becomes crucial to gain access to all necessary resources. Currently, there are no tools available for identifying actors, resources and relational attributes. This could be a potential avenue for academics in this area. Further, the government should identify the best practice from the successful indigenous tourism enterprises, not only giving recognition awards or certifications to these enterprises.

Findings from this study have several contributions; among others, it discussed sense of place value of indigenous tourism enterprise more comprehensively, as the essential actors who exchange resources were identified. This study also underlined positive power imbalance, which had been generally seen as a negative dynamic. Moreover, this study highlighted that indigenous people, despite living by communal value (non-transactional) in their daily lives, would need to engage in transactional relations and develop resource integrator characteristics to maintain tourism enterprise. Indigenous people have often been seen from their communal side, while their transactional (non-communal) side has been rarely seen.

The purpose of this study is to investigate problems that emerged in indigenous community-based tourism during the COVID-19 pandemic, to identify the actors involved and to identify values that were exchanged between actors during the pandemic. This research is crucial given the limited studies around indigenous community-based tourism during the pandemic, especially within the perspectives of value exchange theory.

This research used a constructionist paradigm with a qualitative case study design. Data collection included interviews with six participants, virtual observation, an open-ended questionnaire to 22 community members and 20 tourists, analysis of a book written by Sade’s customary chief and social media artifacts. This study was conducted during the COVID-19 pandemic, where physical distancing measures were applied, therefore most data were collected remotely. Purposive sampling was used and research credibility was increased through detailed note taking, data sources triangulation and member checking. Data analysis was conducted with a coding process, which involved continuous iterations.

Problems identified were decreased revenue and power disadvantage suffered by indigenous community-based tourism. The actors involved in value exchanges varied, including value supporter (i.e. government, private sector such as television, university), value creator (i.e. tourist) or secondary value provider (i.e. travel agent). Values emerged in the interaction between actors in the network. Changes in value exchanges were in terms of value types, relationship intensity between actors and ways of doing the exchange. Non-human factor (i.e. non-actor) was also involved.

Due to restrictive circumstances (i.e. COVID-19 pandemic), the data collection procedure was limited to online communications and letter correspondence. Therefore, opportunities to capture the full phenomenon might be missed as the researchers could not physically meet with the participant.

It was possible for value exchange to alter due to situational factors, including a pandemic. Business diversification is needed by indigenous community-based tourism to achieve a power advantage. Values were found in the relationship between actors, hence, meeting channels or dialogue with other actors could be optimized.

The context of this study, which was indigenous community-based tourism during a pandemic contributed to the study’s originality. Research in this context, which used a clear theoretical framework such as value exchange theory, is scarce. Thus, opportunities for transferability are broad.

This paper explains why some firms manage to capture disproportionate value from their network of relationships, leading to superior performance. The paper examines how a firm's dependencies affect its value appropriation potential (VAP) in economic networks.

The paper follows the axiomatic method and the embeddedness perspective of firms to develop an index called nodal power, which captures the power that accrues to a firm in exchange-based economic networks. Thereafter, using the formal method and simulation, it shows nodal power reflects a firm's VAP in economic networks.

The study analysis and findings prove that a firm's dyadic level exchange relations and the embedded network structure determine its VAP by affecting the nodal power. A firm with lesser nodal power is likely to appropriate less value from its relations even if it equally contributes to the value creation. This finding explains how the structural and relational characteristics of a firm's network enable disproportionate value appropriation.

Nodal power furthers the scope of analyzing firms' economic relationships and changing power equations in dynamic networks. It can help firms build optimal strategic networks and manage the portfolio of relationships by predicting the impact of changing relations on firms' VAP.

The paper's original contribution is to explain, through formal analysis, why and how the structure and nature of relations of firms affect their VAP. The paper also formalizes the power-dependence principle through a dependency-based index called nodal power and uses it to show how interfirm dependencies are key to value appropriation.

This paper's main purpose is to provide a systematic approach for mapping the value exchange in B2B relationship marketing. This approach affords a preliminary analysis in order to distinguish business customers' different value dimensions (tangibles and intangibles) and to set sights on determining suitable metrics to evaluate and quantify the value of each customer.

The paper uses a combination of qualitative research approaches, namely an exploratory case study, in‐depth interviews, and consensus expert opinion. The empirical study took place over three months to maximize the proposed approach's expediency in the practitioners' B2B environment and to increase the validity of the research findings.

In addition to developing a new framework originating in the value network approach for mapping, modeling and analyzing business customers' value network (BCVN), the findings posit a proposed systematic approach for practitioners and marketing scholars to scrutinize the multi‐dimension values of business relationship marketing.

For companies and their business customers alike, the benefits of the systematic approach proposed in this paper are an efficient analytical system giving an opportunity to B2B marketers and managers to understand their business customers' network in detail.

The implicit concept of maximizing customer lifetime value within the business customers' network appeals for an applied approach to better understand and analyze the real value of business customers to retain them.