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'Value' seems like an elusive and abstract concept. Nonetheless, notions of value underpin how we understand our lives, from discussions about the economic contribution of different kinds of work and productive activity, to the prices we pay for the things we consume. So what is value, and where does it come from?
In this new book, Frederick Harry Pitts charts the past, present and future of value within and beyond capitalist society, critically engaging with key concepts from classical and neoclassical political economy. Interrogating the processes and practices that attribute value to objects and activities, he considers debates over whether value lies within commodities or in their exchange, the politics of different theories of value, and how we measure value in a knowledge-based economy.
This accessible and intriguing introduction to the complexities of value in modern society will be essential reading for any student or scholar working in political economy, economics, economic sociology or management.
List of contents
Introduction Notes
1 Value as Substance
Mercantilism and Physiocracy
Smith and Ricardo
Marx
Notes
2 Value as Relation
The Denial of Value
Marx
Marx and Marginalism
Notes
3 Value as Utility
Foundations
The Util
Measure
Notes
4 Value and Institutions
A Social Theory of Value
Sociology of Valuation and Evaluation
The Politics of Value
Notes
5 Value as Struggle
Social Constitution
Value at Work
Class Subjectivity
Notes
6 Value in Crisis
A Crisis of Value?
Finance and Value
The Future of Value
Notes
Index
About the author
Frederick Harry Pitts is a Lecturer in Work, Employment, Organization and Public Policy at University of Bristol School of Management.
Report
"Clear, comprehensive and critical, Value is a gem of a book for both students and scholars who grapple with the problem of value in economic thought. Harry Pitts's introduction offers well-argued and detailed engagement with central approaches and debates that should not be missed."
Paul Mason, author of Postcapitalism
"Harry Pitts has written an essential primer on that 'thing' that is central to economics, political economy and the social system they purport to explain - capitalism. Debunking all notions that there is anything scientific or objective about value, Harry teaches why we should understand it as a category of struggle, as 'something' that both emerges out of struggles and operates to fragment and suppress struggles."
David Harvie, co-author of Moments of Excess: Movements, Protest and Everyday Life
