Value Theory in the National Accounts

Utz-Peter Reich

Chapter 7 in National Accounts and Economic value, 2001, pp 142-154 from Palgrave Macmillan

Abstract: Abstract Having established a distinction between the two theories of value we return to the national accounts for further interpretation. The meaning of volume and price indices is investigated from a value theoretic perspective and the concept of real value is related to it in a systematic way. Finally, the old question of how to account for the use or possible misuse of nature is taken up again, and a new answer is given. It is stated that not just a particular part of GDP, but all of it must be attributed to nature as a gift from a factor that cannot be paid by any means.

Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-51290-0_7

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DOI: 10.1057/9780230512900_7

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