A summary of the major features
of the value theory as developed by Whitehead.
The unique, trans - aesthetic meaning Whitehead attaches to «beauty» has caused much misunderstanding
of his value theory.
But it seems that his encounter with Whitehead, especially in Religion in the Making, brought this aspect
of his value theory to much greater clarity and prominence.
Not exact matches
For more than a year, Chuck Jeannes, CEO
of Vancouver - based Goldcorp — the world's largest gold miner by market
value — has posited his «peak gold supply»
theory.
The second valuable use
of AI, they project, will come from virtual nursing assistant applications ($ 20 billion in
value)-- which, in
theory, will save money by letting medical providers remotely assess a patient's symptoms and lessen the number
of «unnecessary patient visits.»
In
theory, if the U.S. were to impose a heavy tariff on another country, like say 20 %, it could cause the
value of dollar to rise.
Economist Gérard Debreu, a Nobel prize winner, was once asked why he titled his landmark monograph
Theory of Value instead
of Price
Theory.
«How do you lend against a house that should in
theory be $ 1 million, but someone overpaid in a bidding war at $ 1.4 million, and they want a loan for 75 per cent
of the
value?»
The
theory is that they will become mature enough to have the predictability required to be a successful public company and someday be
valued in the tens
of billions.
That is what happens when one reads only Volume I
of Capital, neglecting the discussion
of fictitious capital in Volumes II and III and
Theories of Surplus
Value.
The focus
of classical
value and price
theory was to free economies from economic rent, defined as unearned income simply resulting from privilege: absentee land rent, mineral and natural resource rent, monopoly rent, and financial interest.
Their labor
theory of value found its counterpart in the «economic rent
theory of prices» to distinguish the necessary costs
of production and doing business (reduced ultimately to the
value of labor) from «unearned income» consisting mainly
of land rent, monopoly rent, and financial interest and fees.
There is probably some «greater fool
theory» in play, the idea that people invest in something not because
of its
value but instead because they assume they'll later be able to sell it to someone — the greater fool — willing to pay a higher price.
In
theory, you could hold an individual bond to maturity and never lose any money even though the market
value of the bond may fluctuate based on changing interest rates and other factors (but you could still lose out to inflation over time).
Russian officials failed to understand the State
Theory of money that is the basis
of Modern Monetary
Theory: States can create their own money, giving it
value by accepting it in payment
of taxes.
For example, Dow
Theory is essentially a theory of trend uniformity, and also pays great attention to v
Theory is essentially a
theory of trend uniformity, and also pays great attention to v
theory of trend uniformity, and also pays great attention to
values.
The
theory is that activism has free - rider problems: The activist, if he is right and successful, raises the
value of the company by $ X, but if he only owns 5 percent
of the company he only captures $ 0.05 X.
While Mandelbrot's
theory won't help us predict where a stock or commodity price is going or help us
value a company, it can help us extract an element
of order from the randomness
of markets.
«All
of modern portfolio
theory and all the way most academics and many advisers and managers look at the world just seems kind
of insane when you really boil it down to ownership shares
of businesses that you're trying to
value.»
«The possibility that stock
value in aggregate can become irrationally high is contrary to the hard - form «efficient market»
theory that many
of you once learned as gospel from your mistaken professors
of yore.
«Modern Capital
Theory is
of little or no help to those involved primarily with making investment decisions —
value investors, control investors, most distress investors, credit analysis, and first and second stage venture capital investors» Marty Whitman
Self - taught, his management style is based on the strict application
of the principles
of value management (Graham, Buffet, Peter Lynch, etc.), underpinned by a deep understanding
of the Austrian
theory of economic cycles.
Shiller is right that perfect equilibrium microeconomics can not explain asset bubbles, but bubbles might be explained by combining three other classic postulates: the law
of demand, opportunity costs and the subjective
theory of value.
Unlike the growth stock manager — who, in
theory, buys and holds — the mandate
of the
value manager is to «buy low and sell high.»
One
theory is that the embattled government is attempting to stockpile an assortment
of currencies that have reliable underlying
value.
The labor
theory of value aimed at isolating the economic rent as a margin that either was to be taxed away (for land and natural resources that were privatized) or kept in the public domain (for infrastructure and other natural monopolies).
John Burr Williams in his The
Theory of Investment
Value, 1938 wrote, «With bonds, as with stocks, prices are determined by marginal opinion.....
I know tech people tell me that it's not nothing and that there is a process here that we can probably find in David Ricardo's labour
theory of value.
According to this
theory, if, for example, the U.S. inflation rate is higher than the Canadian inflation rate, then the purchasing power
of Americans will erode compared to that
of Canadians, and the
value of the U.S. dollar against the Canadian dollar will be adjusted in the markets to balance the purchasing power
of the two currencies.
In a world where global central banks manipulate the cost
of risk the mechanics
of price discovery have disengaged from reality resulting in paradoxical expressions
of value that should not exist according to efficient market
theory.
Other more technical factors such as the Net - Net
Theory and the Margin
of Safety
Theory also play a part in the
value investors method.
Written by Tobias Carlisle — an active
value investor and the well - known blogger at greenbackd.com — this important resource describes the evolution
of the various
theories of intrinsic
value and activist investment from Benjamin Graham to Warren Buffett to Carl Icahn and beyond.
Similar to Mao's Hundred Flowers
theory, the explosive proliferation
of cryptocurrency ICOs will continue unabated (SEC involvement notwithstanding) until the banking powers decide which
of the features across the spectrum
of cryptocurrencies from BitCoin to RichCoin are
of value to harvest and consolidate.
This past October, that
theory gained steam when Joseph Tsai, co-founder
of Chinese e-commerce site Alibaba, agreed to buy the Nets in a deal that
valued the team at a record $ 2.3 billion, up from the $ 875 million it was worth when Prokhorov picked it up.
I must report at once that in Victims and
Values: A History and a
Theory of Suffering Joseph A. Amato has turned his apparently impossible assignment into an exciting book that is multicultural and multidisciplinary in the best sense
of those much - abused terms.
I can't say I understand the Z
of Z
theory, or the theoretical approach you are taking, but I'm interested — as one who
values argument (from arg — to shine, build up a shared «shine» — initially argument had positive connotation) I am impressed by the gap separating the «good» that we know and can say, and yet are unable to practice.
Consequently, a
theory of politics requires an ordering principle
of final causation, i.e., a principle
of value, which alone allows one to describe the relations among choices.6 Perhaps enough has been said, then, to indicate a line
of argument through which the liberal view
of happiness may be challenged and attention to an alternative provoked.
In his recent analysis
of contemporary social and political
theory, David J. Bernstein argues that «when we concentrate on... mainstream social science, we detect... the constant suggestion that in the final analysis «
values» are only individual emotional responses» (RSPT 53).
In his widely persuasive attempt to apply «systems
theory» to political analysis, for instance, David Easton writes that «what distinguishes political interactions... is that they are predominantly oriented toward the authoritative allocation
of values for a society» (EPA 50; see also PcS, chapter v).
The application
of a
theory that places no
value on human community has destroyed much.
The newer therapies for sexual dysfunctions and diminution provide a clear illustration
of the therapeutic
value of learning
theory principles.
In terms
of the developed
value theory of Adventures
of Ideas, we may say his aim is at strength
of beauty.
Even without a carefully articulated
theory of value, we can make rough and realistic judgments that the subjectivity
of the sea mammals is greater than that
of fish, and that the subjectivity
of a chimpanzee is greater than that
of a chicken.
Whitehead did work out a complex
theory of value, but my point here is only to indicate that Whitehead's way
of understanding human beings as part
of nature both requires that we extend the ethical discussion and gives us clues as to how to do this.
Put in very general terms, every person has a
theory of value and
of power and
of the relationship between the two.
They tend to regard their models and
theories developed from a limited set
of data in the actual world as having a
value and truth that can then be applied to that world.
Accordingly, economic
theory has no place for community or for such
values of community as justice.
In a manner both earthy and clear, Lincoln preached a «labor
theory of value» not entirely unlike the
theory advanced with such obtuse complexity by Karl Marx.
The purpose
of this essay is to make explicit two
theories of value and power and their impacts on our images
of personhood.
The first
of the four themes I have been tracing, an aesthetic
theory of value, was made quite clear here.