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value | A Wisdom Archive on value | | value A selection of articles related to value | |
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value, Value, Value - Computer science, Value - Economics, Value - Law, Value - Marketing, Value - Mathematics, Value - Personal and cultural values, Anthropological theories of value, Fair value for more general discussions of economic value., Moral character
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| ARTICLES RELATED TO value | | | |  value: Encyclopedia II - Money - Essential characteristics of moneyMoney has all of the following three characteristics:
1. It must be a medium of exchange
When an object is consistently used as an intermediate object of trade, as opposed to direct barter, then it is regarded as a medium of exchange. The utility of such an object in simplifing the process of trade leads to direct demand for the object.
In order for a single object to become or to remain dominant in this function requires either coercion or faith.
When people are coerced to use or alternatively they trust an object and demand it in order to do their excha ...
See also:Money, Money - Essential characteristics of money, Money - Credit as money, Money - Desirable features of money, Money - Modern forms of money, Money - Money and economics, Money - History of money, Money - Private currencies, Money - Money supply, Money - Growing the money supply, Money - Shrinking the money supply M3 Read more here: » Money: Encyclopedia II - Money - Essential characteristics of money |
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| | | | | value: Encyclopedia II - Philosophy in the Tragic Age of the Greeks - Thales This philosopher proposed that water is the origin af all things. Nietzsche claimed that this must be taken seriously for three reasons.
It makes a statement about the primal origin of all things;
It uses language that has nothing to do with fable or myth;
It reflects the vision that all things are really one.
Thales' generalization was the result of creative imagination and analogy. He did not use reason, logical proof, myth, or allegory. This was a first attempt to think about nature without the ...
See also:Philosophy in the Tragic Age of the Greeks, Philosophy in the Tragic Age of the Greeks - Early preface, Philosophy in the Tragic Age of the Greeks - Later preface, Philosophy in the Tragic Age of the Greeks - A justification of philosophy, Philosophy in the Tragic Age of the Greeks - Thales, Philosophy in the Tragic Age of the Greeks - Anaximander, Philosophy in the Tragic Age of the Greeks - Heraclitus, Philosophy in the Tragic Age of the Greeks - Parmenides, Philosophy in the Tragic Age of the Greeks - Anaxagoras Read more here: » Philosophy in the Tragic Age of the Greeks: Encyclopedia II - Philosophy in the Tragic Age of the Greeks - Thales |
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| | | | | value: Encyclopedia II - Philosophy in the Tragic Age of the Greeks - Anaximander Anaximander of Miletus was the first philosopher who wrote his words. His most famous passage is, "The source of coming-to-be for existing things is that into which destruction, too, happens according to necessity; for they pay penalty and retribution to each other for their injustice according to the assessment of Time." This pessimistic expression presented existence as something that should not be. Any definite thing must pay for its individuality by, after a short time, passing back into its indefinite (apeiron) source. This source c ...
See also:Philosophy in the Tragic Age of the Greeks, Philosophy in the Tragic Age of the Greeks - Early preface, Philosophy in the Tragic Age of the Greeks - Later preface, Philosophy in the Tragic Age of the Greeks - A justification of philosophy, Philosophy in the Tragic Age of the Greeks - Thales, Philosophy in the Tragic Age of the Greeks - Anaximander, Philosophy in the Tragic Age of the Greeks - Heraclitus, Philosophy in the Tragic Age of the Greeks - Parmenides, Philosophy in the Tragic Age of the Greeks - Anaxagoras Read more here: » Philosophy in the Tragic Age of the Greeks: Encyclopedia II - Philosophy in the Tragic Age of the Greeks - Anaximander |
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| | | | | value: Encyclopedia II - Ultima Online - Shard emulation Technically-inclined fans of Ultima Online have reverse-engineered the game to produce emulators of the original game servers. This emulation is legal, and EA is aware of its existence, although in certain countries the authors of these emulators are considered to have violated their software license by reverse-engineering the game, and may be banned from the official UO servers as a result (other countries don't allow restrictions on reverse engineering). To stay legal, emulation servers do not distribute the official EA client files ...
See also:Ultima Online, Ultima Online - Overview, Ultima Online - Issues Faced, Ultima Online - Griefing, Ultima Online - Housing, Ultima Online - Economy, Ultima Online - Bugs, Ultima Online - Expansions and Sequels, Ultima Online - Sequels, Ultima Online - Expansions, Ultima Online - Shard emulation, Ultima Online - Legal Issues, Ultima Online - Notable UO Server Emulators, Ultima Online - Emulation Information, Ultima Online - Clients, Ultima Online - Official clients, Ultima Online - Third-party clients Read more here: » Ultima Online: Encyclopedia II - Ultima Online - Shard emulation |
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| | | | | value: Encyclopedia II - Ultima Online - Expansions and Sequels
Ultima Online - Sequels.
Ultima Online 2 (UO2) — later renamed Ultima Worlds Online: Origin (UWO:O) — was announced in 1999. It was to add Steampunk elements to the fantasy setting, set in a world where the Past, Present and Future of Sosaria were merged together by a mistake made by Lord British while attempting to merge together the shards of the Gem of Immortality. Todd McFarlane was hired to design original monsters and regions for the game, as well as help shape the story. It was canc ...
See also:Ultima Online, Ultima Online - Overview, Ultima Online - Issues Faced, Ultima Online - Griefing, Ultima Online - Housing, Ultima Online - Economy, Ultima Online - Bugs, Ultima Online - Expansions and Sequels, Ultima Online - Sequels, Ultima Online - Expansions, Ultima Online - Shard emulation, Ultima Online - Legal Issues, Ultima Online - Notable UO Server Emulators, Ultima Online - Emulation Information, Ultima Online - Clients, Ultima Online - Official clients, Ultima Online - Third-party clients Read more here: » Ultima Online: Encyclopedia II - Ultima Online - Expansions and Sequels |
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| | | | | value: Encyclopedia II - Ultima Online - Overview The success of Ultima Online (UO) opened the door for the creation of many exciting new massively multiplayer games that have or are about to hit the market. UO is a third-person/isometric fantasy role-playing game set in the Ultima universe. It is online-only and played by thousands of simultaneous users (who pay a monthly fee) on various game servers, also known as "shards." It is also known for its extensive timing-based player versus player combat system. There have been millions of subscribers. To maintain order in the onl ...
See also:Ultima Online, Ultima Online - Overview, Ultima Online - Issues Faced, Ultima Online - Griefing, Ultima Online - Housing, Ultima Online - Economy, Ultima Online - Bugs, Ultima Online - Expansions and Sequels, Ultima Online - Sequels, Ultima Online - Expansions, Ultima Online - Shard emulation, Ultima Online - Legal Issues, Ultima Online - Notable UO Server Emulators, Ultima Online - Emulation Information, Ultima Online - Clients, Ultima Online - Official clients, Ultima Online - Third-party clients Read more here: » Ultima Online: Encyclopedia II - Ultima Online - Overview |
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| | | | | value: Encyclopedia II - Ultima Online - Clients
Ultima Online - Official clients.
Ultima Online features two distinct clients: the original client, which has 2D characters and lighting, and a very distinct 3D client, which uses 3D models for characters and lighting. The 3D client was originally released as a part of the Third Dawn expansion, but has received poor reviews from both veteran and new players alike due to a large number of performance issues (especially memory leaks early on) and what many see as sub-par graphics. Both clients, however, have strong followings, and EA ...
See also:Ultima Online, Ultima Online - Overview, Ultima Online - Issues Faced, Ultima Online - Griefing, Ultima Online - Housing, Ultima Online - Economy, Ultima Online - Bugs, Ultima Online - Expansions and Sequels, Ultima Online - Sequels, Ultima Online - Expansions, Ultima Online - Shard emulation, Ultima Online - Legal Issues, Ultima Online - Notable UO Server Emulators, Ultima Online - Emulation Information, Ultima Online - Clients, Ultima Online - Official clients, Ultima Online - Third-party clients Read more here: » Ultima Online: Encyclopedia II - Ultima Online - Clients |
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| | | | | value: Encyclopedia II - Use value - Transformation into a commodity The transformation of a use-value into a social use-value and into a commodity is not automatic or spontaneous, but has technical, social and political preconditions. For example, it must be possible to trade it, and to transfer ownership or access rights to it from one person or organisation to another in a secure way. There must also be a real market demand for it. And all that may depend greatly on the nature of the use-value itself, as well as the ability to package, store, preserve and transport it. In the case of information or communication as use-values, transforming them i ...
See also:Use value, Use value - Origin and definition, Use value - Transformation into a commodity, Use value - The role of use value in political economy, Use value - Use value and utility, Use value - Indifferent to use value? Read more here: » Use value: Encyclopedia II - Use value - Transformation into a commodity |
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| | | | | value: Encyclopedia II - Use value - Indifferent to use value? Some have claimed that capitalists are basically "indifferent" to the use-value of the goods and services in which they trade, since what matters to capitalists is just the money they make; whatever the consumer does with the goods and services produced is, so it seems, of no real concern.
This is however a caricature based on a misunderstanding of business activity and the bourgeoisie as a class. The reason why capitalists can never be indifferent to use-values is because inputs (labour, materials, equipment) must be bought to produc ...
See also:Use value, Use value - Origin and definition, Use value - Transformation into a commodity, Use value - The role of use value in political economy, Use value - Use value and utility, Use value - Indifferent to use value? Read more here: » Use value: Encyclopedia II - Use value - Indifferent to use value? |
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| | | | | value: Encyclopedia II - Use value - Use value and utility Marx's concept of use-value seems akin to, but in reality differs from the neoclassical concept of utility.
Marx usually assumes in his analysis that products sold in the market have a use-value to the buyer, without attempting to quantify that use-value other than in product units (this caused some of his readers to think wrongly that use-value played no role in his theory). The neoclassicals, on the other hand, typically see prices as the quantitative expression of the utility of products for buyers and sellers, instead of exp ...
See also:Use value, Use value - Origin and definition, Use value - Transformation into a commodity, Use value - The role of use value in political economy, Use value - Use value and utility, Use value - Indifferent to use value? Read more here: » Use value: Encyclopedia II - Use value - Use value and utility |
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| | | | | | value: Encyclopedia II - Sunset Park Brooklyn - Transportation Sunset Park is served extensively by road, rail, and ferry service. Sunset Park has access to three expressways; the Gowanus Expressway/I-278, the Prospect Expressway/NY-27 and the Belt Parkway (Parkways do not get numerical designations, although the Henry Hudson Parkway in Manhattan carries a NY-9A shield).
6 MTA Bus lines serve Sunset Park, they include; B9, B11, B35, B37, B63, B70.
Three subway lines run through Sunset Park. The 4th Avenue Line is served by the D, M, N and R trains and has stations at Prospect Avenue, 25th ...
See also:Sunset Park Brooklyn, Sunset Park Brooklyn - Brief history and overview, Sunset Park Brooklyn - Early years, Sunset Park Brooklyn - Rebirth, Sunset Park Brooklyn - Brooklyn Chinatown, Sunset Park Brooklyn - In between, Sunset Park Brooklyn - Demographics, Sunset Park Brooklyn - Transportation, Sunset Park Brooklyn - In film Read more here: » Sunset Park Brooklyn: Encyclopedia II - Sunset Park Brooklyn - Transportation |
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| | | | | value: Encyclopedia II - Socially necessary labour time - Useful commentaries W. Paul Cockshott and Allin F. Cottrell, "Value's Law, Value's Metric", September, 1994 http://reality.gn.apc.org/econ/METRIC/metric.htm
Ernest Mandel, Introduction to Marxist Economic Theory. Pathfinder Press.
I.I. Rubin, Essays on Marx's theory of value. http://www.marxists.org/subject/economy/rubin/
Anwar Shaikh, Market value and Market Price http://homepage.newschool.edu/~AShaikh/pal3.pdf
Romand Rosdolsky, The Making of Marx's Capital. Pluto Press.
Makoto Itoh, Value and C ...
See also:Socially necessary labour time, Socially necessary labour time - Simplified explanation of the concept, Socially necessary labour time - Operation of the law of value, Socially necessary labour time - Marx and Ricardo, Socially necessary labour time - Criticism, Socially necessary labour time - Useful commentaries, Socially necessary labour time - Note Read more here: » Socially necessary labour time: Encyclopedia II - Socially necessary labour time - Useful commentaries |
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| | | | | value: Encyclopedia II - Public good - Subtypes of public goods One of the most common ways of looking at goods in economics, illustrated in the table below, is the classic division based on:
whether there is competition involved in obtaining a given good
whether it is possible to exclude a person from consumption of a given good
Sometimes, club and common goods are included in the broad definition of public goods. There are always some goods that can be ar ...
See also:Public good, Public good - Examples of public goods, Public good - Subtypes of public goods, Public good - Global public good, Public good - The free rider problem, Public good - Possible solutions to the free rider problem, Public good - Dominant assurance contracts, Public good - Coasian solution, Public good - Government provision, Public good - Subsidies, Public good - Privileged group, Public good - Merging of free riders, Public good - Legislated exclusion, Public good - Non-individualism, Public good - Efficient production levels of public goods, Public good - Criticism of public goods theory, Public good - Empirical discrepancies with public goods theory, Public good - Subjective value criticisms, Public good - Assumptions regarding government provision, Public good - Normative criticism, Public good - External sources Read more here: » Public good: Encyclopedia II - Public good - Subtypes of public goods |
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| | | | | value: Encyclopedia II - Public good - Examples of public goods Common examples of public goods include: defense and law enforcement (including the system of property rights), public fireworks, lighthouses, clean air and other environmental goods, and information goods, such as software development, authorship, and invention. Some goods -such as orphan drugs- require special governmental incentives to be produced, but can't be classified as public goods since they don't fulfil th ...
See also:Public good, Public good - Examples of public goods, Public good - Subtypes of public goods, Public good - Global public good, Public good - The free rider problem, Public good - Possible solutions to the free rider problem, Public good - Dominant assurance contracts, Public good - Coasian solution, Public good - Government provision, Public good - Subsidies, Public good - Privileged group, Public good - Merging of free riders, Public good - Legislated exclusion, Public good - Non-individualism, Public good - Efficient production levels of public goods, Public good - Criticism of public goods theory, Public good - Empirical discrepancies with public goods theory, Public good - Subjective value criticisms, Public good - Assumptions regarding government provision, Public good - Normative criticism, Public good - External sources Read more here: » Public good: Encyclopedia II - Public good - Examples of public goods |
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| | | | | value: Encyclopedia II - Philosophy in the Tragic Age of the Greeks - Heraclitus As the opposite of Anaximander, Heraclitus saw no injustice, guilt, evil, or penance in the emergence and disappearance of worldly objects. To him, continuous becoming and passing away is the order of nature. There is a wonderful fixed order, regularity, and certainty that shows itself in all change and becoming. Heraclitus did not think that there is a metaphysical, undefinable indefinite (apeiron) out of which all definite things come into existence. Also, he denied that there is any permanent being. Nietzsche paraphrased him as saying, "Y ...
See also:Philosophy in the Tragic Age of the Greeks, Philosophy in the Tragic Age of the Greeks - Early preface, Philosophy in the Tragic Age of the Greeks - Later preface, Philosophy in the Tragic Age of the Greeks - A justification of philosophy, Philosophy in the Tragic Age of the Greeks - Thales, Philosophy in the Tragic Age of the Greeks - Anaximander, Philosophy in the Tragic Age of the Greeks - Heraclitus, Philosophy in the Tragic Age of the Greeks - Parmenides, Philosophy in the Tragic Age of the Greeks - Anaxagoras Read more here: » Philosophy in the Tragic Age of the Greeks: Encyclopedia II - Philosophy in the Tragic Age of the Greeks - Heraclitus |
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| | | | | value: Encyclopedia II - Public good - The free rider problem Public goods provide a very important example of market failure, in which market-like behavior of individual gain-seeking does not produce efficient results. The production of public goods results in positive externalities which are not remunerated. Because no private organisation can reap all the benefits of a public good which they have produced, there will be insufficient incentives to produce it voluntarily. Consumers can take advantage of public goods without contributing sufficiently to their creation. This is called the free rider ...
See also:Public good, Public good - Examples of public goods, Public good - Subtypes of public goods, Public good - Global public good, Public good - The free rider problem, Public good - Possible solutions to the free rider problem, Public good - Dominant assurance contracts, Public good - Coasian solution, Public good - Government provision, Public good - Subsidies, Public good - Privileged group, Public good - Merging of free riders, Public good - Legislated exclusion, Public good - Non-individualism, Public good - Efficient production levels of public goods, Public good - Criticism of public goods theory, Public good - Empirical discrepancies with public goods theory, Public good - Subjective value criticisms, Public good - Assumptions regarding government provision, Public good - Normative criticism, Public good - External sources Read more here: » Public good: Encyclopedia II - Public good - The free rider problem |
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| | | | | value: Encyclopedia II - Public good - Criticism of public goods theory
Public good - Empirical discrepancies with public goods theory.
Many of the goods that are provided on the market without state involvement fit the description of public goods. For example, street musicians, written and spoken languages, money transactions (as opposed to bartering), personal hygiene, etc., are all public goods according to the requirements of public goods theory. However, all of these are provided by free actors on the market. State provision of many goods such as television, radio and telephone ...
See also:Public good, Public good - Examples of public goods, Public good - Subtypes of public goods, Public good - Global public good, Public good - The free rider problem, Public good - Possible solutions to the free rider problem, Public good - Dominant assurance contracts, Public good - Coasian solution, Public good - Government provision, Public good - Subsidies, Public good - Privileged group, Public good - Merging of free riders, Public good - Legislated exclusion, Public good - Non-individualism, Public good - Efficient production levels of public goods, Public good - Criticism of public goods theory, Public good - Empirical discrepancies with public goods theory, Public good - Subjective value criticisms, Public good - Assumptions regarding government provision, Public good - Normative criticism, Public good - External sources Read more here: » Public good: Encyclopedia II - Public good - Criticism of public goods theory |
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| | | | | value: Encyclopedia II - Socially necessary labour time - Criticism Marx's interpretation of value from the point of view of a society as whole proved elusive for many critics. Marx took a swipe at them, in a letter to a friend, Dr Kugelmann:
"All that palaver about the necessity of proving the concept of value comes from complete ignorance both of the subject dealt with and of scientific method. Every child knows that a nation which ceased to work, I will not say for a year, but even for a weeks, would perish. Every child knows, too, that the masses of products corresponding to different needs requir ...
See also:Socially necessary labour time, Socially necessary labour time - Simplified explanation of the concept, Socially necessary labour time - Operation of the law of value, Socially necessary labour time - Marx and Ricardo, Socially necessary labour time - Criticism, Socially necessary labour time - Useful commentaries, Socially necessary labour time - Note Read more here: » Socially necessary labour time: Encyclopedia II - Socially necessary labour time - Criticism |
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