Value Theory in Ecological Economics: The Contribution of a Political Economy of Wealth

Author: Douai, Ali

Source: Environmental Values, Volume 18, Number 3, August 2009 , pp. 257-284(28)

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Abstract:

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.

Keywords: economic value; Marx; money; commodification

Document Type: Research article

DOI: http://dx.doi.org/10.3197/096327109X12474739376415

Publication date: 2009-08-01

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Environmental Values is an international peer-reviewed journal that brings together contributions from philosophy, economics, politics, sociology, geography, anthropology, ecology and other disciplines, which relate to the present and future environment of human beings and other species. In doing so we aim to clarify the relationship between practical policy issues and more fundamental underlying principles or assumptions.

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