Value Theory in Ecological Economics: The Contribution of a Political Economy of Wealth
This paper demonstrates how a Political Economy of Wealth - an analytical framework inspired from Ricardo's and Marx's theories of value - strengthens the analytical force of Socio-Ecological Economics in the context of the controversy over the value of nature. The Political Economy of Wealth helps (1) to overcome some theoretical limitations encountered in Socio-Ecological Economics, (2) to develop a critical perspective on neoclassical theory of environmental values, as well as a new justification of value incommensurability, and (3) to move toward a new research agenda that aims to study interactions between the economy and the environment from a socio-historical perspective.
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- Arild Vatn, 2004. "Environmental Valuation and Rationality," Land Economics, University of Wisconsin Press, vol. 80(1), pages 1-18.
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