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Values, norms, transactions and organizations

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  • Américo M. S. Carvalho Mendes

    ()
    (Faculdade de Economia e Gestão, Universidade Católica Portuguesa - Porto)

Abstract

This paper may be considered an essay on metaeconomics, since it deals with the meaning of several concepts often left undefined, or very briefly defined in economic theories. These concepts are the following: value including the values of things and moral values, social norms or institutions, social power, goods and services, transactions and organizations (firms, and others). The paper starts by proposing a general concept of value, encompassing both the value of things and moral values. From this concept it proceeds to the definition of six different types of values of things and moral values and to the concept of value transformation process of things which includes all the operations dealt with in economic theory as well as many other human actions. The last part of the paper starts with the distinction between moral values and social norms (or institutions) and the roles of social power and human organization in connecting the domains of morality and social normativity. The paper proceeds by distinguishing different types of norms, including possession norms which are important for defining the concepts of goods and services and transaction processes.

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Bibliographic Info

Paper provided by Faculdade de Economia e Gestão, Universidade Católica Portuguesa (Porto) in its series Working Papers de Economia (Economics Working Papers) with number 05.

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Length: 25 pages
Date of creation: May 2007
Date of revision:
Handle: RePEc:cap:wpaper:052007

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