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

Author: Douai Ali  

Publisher: White Horse Press

ISSN: 1752-7015

Source: Environmental Values, Vol.18, Iss.3, 2009-08, pp. : 257-284

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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.