From Values to Value
Conventional economic theory is largely concerned with resources and the role that price, money and value play in their allocation. Some reflection on these relationships raises a number of questions, what has money to do with value, how does price relate to value, on what is value based? Fundamental to this is the fact that many resources are capable of measurement or quantification. But what about those qualitative elements upon which we depend. Fresh air has no price but is of inestimable value. Underlying this notion of value is something fundamental, the value system assumed by society and the personal values that we adopt that support the whole value construct. You are invited to join an Advanced Economic group that will probe the relationship that leads from values to value.
Transition to Sustainable Energy – the challenges
Many countries have adopted ambitious targets for reducing the carbon footprint of their economies. This will involve a move away from fossil fuels to renewable energy sources such as wind and sun and a move from petrol and diesel vehicles to electric vehicles. This transition will take place at the same time as further developments in digital technology and will place new and different demands upon the Earth’s natural resources.
This Advanced Economics Course will look at the challenging issues which will need to be addressed if this transition is not to exacerbate existing problems of unsustainability and economic injustice.
This class has been studying topics of interest for a while but welcomes new members. Each term one or more topics are chosen for focus and closer study.
A new map of the Economic world
Our endeavour this term will be to try and approach the broad subject of political economy with the innocence of a child, asking questions which are normally taken for granted in academic circles.
- What would be the effect of considering the complete field of human activity, which includes, but is not limited to, paid work?
- Is there a just way of spreading happiness, health and wellbeing?
- What methods are found to measure quality of life rather than just quantity of production? How can the ‘production boundary’ be redrawn?
- What are the essentials of vital wellbeing as opposed to wealth?
- Is it true that the only way we can raise our standard of living is by increasing productivity? Is productivity a useful concept anyway?
- How can credit be earned, and is it the same as ‘capital’?
We will be drawing a new map of the real economy and using it to explore old questions and quandaries in new ways.