Titlebook: National Accounts and Economic Value; A Study in Concepts Utz-Peter Reich Book 2001 Palgrave Macmillan, a division of Macmillan Publishers

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Elements of Value Theorythe distinction between the microeconomic approach and the macroeconomic approach to value theory. Each approach is presented in its axiomatic form, and the differences and contradictions between the approaches are pointed out.

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ue and determines how value is defined in theory, which is microeconomic, and how it is measured in practice in national accounts. He demonstrates that microeconomic theory is not made to guide or interpret national accounts figures and he offers an alternative theory.978-0-230-51290-0

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Introduction: Why Write About Value in the Context of National Accounts?The purpose of combining national accounts and the theory of economic value is explained in this chapter. The main argument is that the concepts of a theory should comply with the standards of their measurement, which in economics are those of accounting.

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Elements of Value Theorythe distinction between the microeconomic approach and the macroeconomic approach to value theory. Each approach is presented in its axiomatic form, and the differences and contradictions between the approaches are pointed out.