Skip to main content

On the centrality of human value

Buy Article:

$55.00 plus tax (Refund Policy)

The financial crash of 2008 following the selling of fictitious derivatives was a crisis of both rationality and values whose aftermath has thrown the legitimation of deregulated markets, and governments, into question. This paper critiques the Becker metaphor of human capital and submits that human value is central to and the fulcrum of both economic and social values. It illustrates that Hume and Adam Smith directly countered the Hobbesian hypothesis that human nature is based only on self-interest, distinguishes market values from social values, explicit from implicit values and parallels Sen in adopting an ordinal ranking of what people value rather than a search for cardinality. It draws on cognitive psychology, neural research, revealed preference theory and a principle of implicit verification. It also outlines implications for what Adam Smith centrally valued as concern for the welfare of the whole of society.
No Reference information available - sign in for access.
No Citation information available - sign in for access.
No Supplementary Data.
No Data/Media
No Metrics

Keywords: implicit; legitimation; preferences; tacit; values; verification

Document Type: Research Article

Affiliations: Faculty of Economics, CCIM, CEIS UC, University of Coimbra, Coimbra, Portugal

Publication date: 2012-06-01

More about this publication?
  • Access Key
  • Free content
  • Partial Free content
  • New content
  • Open access content
  • Partial Open access content
  • Subscribed content
  • Partial Subscribed content
  • Free trial content
Cookie Policy
Cookie Policy
Ingenta Connect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more