Concrete Value: Essay on Empiric Economic Theory and the Nature of Value

Abstract

In which an empiric method of deducing Economics is suggested and described, previous value theorems are rejected based upon their repetition of previously described known economic phenomena, and a new value theory (Concrete Value Theory) is outlined with commentary on its behavior over time. Economics is traditionally viewed as the study of rational choice, or the study of what choice will be made when considering purely material matters. Thus, within an Object Based Ethic System, Economics is Ethics. It must be noted that Economics is not a source of Normative Ethics, rather it is the necessary calculus to determine the ethic course within a given situation. Or, if it is simpler, the Laws of Economics are the Laws of Ethics.