o3B (access: ) Schultz Theodore W. (): Ekonomia kapitału ludzkiego. raudone.info pdf (access: ) Silverman ) Stiglitz Joseph E. (): Ekonomia sektora publicznego. are considered as the justification of state action (Stiglitz, ). The term market failure in economics .. Stiglitz, J.E. (). Ekonomia sektora publicznego. Stiglitz J.E., Ekonomia sektora publicznego [Public sector economics], PWN, Warszawa Stiles R.A., raudone.info Mick, Components of the costs of controlling.

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According to J.E. Stiglitz [12], globalism implies a market without rulers. It .. [13] Stiglitz J. E., Ekonomia sektora publicznego (Economics of the Public Sek-. PDF | Paper considers critical review of economic aspects of Stiglitz J., Ekonomia sektora publicznego, Wydawnictwo Naukowe PWN. Policy Press, Bristol, pp. Stiglitz J., , Ekonomia sektora publicznego. Wyd. Naukowe PWN, Warsaw. Tallon A., , Urban Regeneration in the UK.

It has a long- term character. The market price depends on the relation between the quantity of goods offered on the market and the effective demand for it. U Smith has at least two different theories of value.

The first one is based only on the work inputs used to create a given unit of goods. The second one is based on the production costs that must be incurred to produce a given unit of goods. The first theory applies to primitive and developed society. In primitive society, only human work determines the volume of production produced, while other factors of production do not play a significant role. Also, work in this society does not sho w too much diversity in terms of dexterity and qualifications.

In this theory, Smith distinguishes two values: value in use, i. Hence the third variant was derived: the value based on the availability of work. According to this theory, the value of the commodity is determined by the amount of work that can be downloadd for the product.

In a developed society, three production factors are neces sary to produce a product: labor, capital, land. Their owners receive appropriate shares in value added in the form of pay, profit and pension. Karl Marx largely drew on his reflections on the achievements of the English classical economy and the concept of French utopian socialism.

He attempted to describe the problem of transformation, ie the difficulty in explaining the transition from the sphe re of production, in which the value of the commodity arises, to the sphere of division in which the price occurs. In his basic work - Capital - he proclaimed that the value of the commodity is determined by the work that is materialized in it.


He distinguished two types of work needed to produce goods: concrete work and abstract work. The effect of the concrete work was the utility value of the product, and the abstract value - the exchange value. Marx assumed an equivalent exchange and claimed that the interchange ratio of the two goods reflects the differences in the abstract work measured by the "necessary work time" needed to produce the goods.

The value of the commodity consisted of fixed capital expenditure c , variable capital v and additional value m. Marx formulated the law of value, according to which in a free- market economy the market price of a given commodity did not have to be equal to the value of the commodity. The cause of deviations of the market price from value was the inequality of demand and supply. Deviations of the market price from the value of commodities produced in various branches of the economy caused flows of free capitals from unprofitable branches to profitable ones, and as a result the profit rates in the entire economy were evened out Kundera , p.

The price, according to Marx, is not a good measure of value, because in developed economies, both categories do not fit together "The possibility of price deflection lies in the very form of price" Marx , p.

The price then becomes a separate category, which can sometimes change in a different way than the value.

Determinants determining the price are demand and supply. Marx believed that the sellers get rid of the goods because they are not interested in their utility value Bartkowiak , p. The basis of the Austrian school, also called psychological, is the subjective theory of values.

According to her, the value of the commodity is identified with the individual feeling of the consumer. This assumption shows the decreasing marginal utility of goods, that is, the decrease in satisfaction resulting from the consumption of each subsequent good. Representatives of the Austrian school trying to measure utility use the cost category, which is understood as the usefulness of a good that can be used in many uses goals Romanow , pp.

Neoclassical school, whose most prominent representatives were W. Jevons and A. Marshall, recognizes the need as the main motivating factor for business. He is trying to find a "golden mean" between the mainstream of classical English economics and the Austrian school. He believes that value and price equally depend on supply-side factors production costs as well as on demand related to marginal utility ibidem, pp.

The Lausanne Mathematical school sought to create the so-called pure economics, or abstract science, which at the same time will be timeless and universal.

According to L. Walras, the main features of economic goods are utility and rarity. This, in turn, makes it necessary to evaluate and exchange them. Pareto, in turn, in his deliberations aims to limit the subjective elements, by abandoning the measurement of utility. To this end, he uses the curve of preference indifference , according to which the consumer can compare utility. It presents all combinations of two goods giving the consumer the same total utility, because in each of these combinations any reduction in the amount of one good is compensated by a corresponding increase in the amount of the second good Oyrzanowski , p.

There are many combinations on the coordinate axis that are equally good for the consumer. Such a curve illustrates the phenomenon of substitution of goods. Its shape results from the substitutability of good - the higher it is, the curve of indifference is less convex.

There are infinitely many curves of indifference, and each time the consumer tries to choose the one that gives him the greatest satisfaction. The path that leads to the end of possibilities and full satisfaction of needs knoll of tastes is the curve of preferences. An analogous process takes place on the supply side. The producer of goods, also possessing specific resources, tries to use them as best as possible Romanow , pp.

Contemporary perception of value As indicated at the very beginning, value is an ambiguous and difficult to define issue at the same time. The dictionary definition Dictionary , p. He divided into recognized values based on beliefs and felt based on feelings. We appreciate the first one in terms of reason, we have a clear emotional relation to the latter, for example, we value compulsiveness, punctuality, but emotionally, for example, sensitivity and sensitivity are closer to us.

As Ossowski points out, an important criteri on for sharing values is the degree of their categoricality. Due to this criterion, we divide them into categorical obligatory and preferential only recommended values. Jensen's gaze , pp. This value in the economic dimension will be the main axis around which the considerations in this work will circulate. However, describing the social added value and ways of measuring it will require a somewhat broader look at the problem of value determination - also in other dimensions determined by Jensen.

Returning, however, to the economic value, today there is still a lack of a unified concept of this value. The representative of the first trend is Ludvig von Mises. In his opinion, the starting point to determine the value of good is consumer choice theory. Mises writes When a person makes a choice, he chooses not only between particular material things and services.

His choice also applies to all human values. Through the eyes of the imagination he sees all goals and means, both material things and issues from the sphere of ideas, lofty and common, noble and indecent; evaluates them and decides to choose one of them and reject the others Mises , p.

He also believes that values such as love, friendship and aesthetic pleasure can not be measured.

The basic element that motivates people to exchange goods is that they value the value of good and goodness b. Money, however, is not an objective measure of value ibidem, pp. Thus, the analysis pattern according to the so-called Robinson's economy, Cruzoe see Rothbard , in which we examine individual individuals separated from society, is not right, because it does not take into account interactions between these individuals.

To confirm this, Mises writes The right approach to economic problems must begin with the examination of the acts of choice; economics is becoming a part - so far the most developed one - of universal science, which is praxeology ibidem, p.

It is a measure of the value of a good that can only be determined on the basis of accounting tools that seek to capture the benefits of consuming a given good.

According to Burke, determining the value based on the theory of demand and supply is risky, because these have an inherent tendency to manipulate.

If this book does not bring any real material benefit to the student, its value is zero. If, however, the same student will download a book in the commission and pay for it 0. Burke, therefore, proposes an approach to calculating the value of goods and services from the perspective of the return on investment, not the labor input or the balance between demand and supply.

The concept of value is also strongly embedded in the area of management. It is worth mentioning the value chain theory see Porter This model presents in a simplified way the company as a sequence of activities functions , which are arranged in the process from the phase of acquiring raw materials, materials and technologies through their processing into final products and delivery to the recipient.

In the value chain, basic functions have been distinguished, which include activities aimed at: taking raw materials, materials and components, production and sales and service.

Basic functions can not be implemented in a vacuum, it is necessary to perform auxiliary, managerial and advisory activities. Featured auxiliary functions include activities such as research and development, marketing, human resources management, information management and others. The integration of basic and auxiliary activities and their connection with chains of suppliers and recipients improves the company's development possibilities and its effectiveness.

Coordination between the various links of the value chain is possible only thanks to the appropriate information system. In the area of public management, it is worth paying attention to the concept of best value, which was introduced in in Great Britain by the then newly elected Labor government. It was a reaction to the ineptitude of large, bureaucratic structures serving, among others, road construction, education, housing or social assistance through a regional network of around local authorities.

Although usually such solutions proved to be quite effective, they were often not sufficiently flexible and sensitive to the needs of recipients. Even the introduction of the obligation to organize tenders did not help and additionally brought unintended consequences - it contributed to the development of defensive attitudes and a culture oriented to defend one's own positions. The created climate was not conducive to an open admission of poor results, effective cooperation or mutual learning based on other people's experiences.

The "Best Value" concept was to be the rescue - in this case, instead of the previous detailed orders, a minimalist approach was adopted, le aving the development of specific solutions to the local authorities themselves. The "best value" concept is used when it is necessary to specify and compare parameters, factors in addition to quality and price, in order to select the most advantageous offer.

Local, This analysis shows that the concept of value as well as social added value can not be reduced to one intake and always has many ways of understanding. This, in turn, determines the approach to measuring these categories, which must be adjusted to the type of value created by social economy entities, as well as to the specifics of the entity itself and the area of its activity.

The considerations made in this article therefore lead to the following conclusion: social added value is a difficult category of socio-economic development - mainly due to the definition ambiguity.

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Tversky, A. Prospect Theory:Nauk Ekonomicznych. This volume provides a pluralistic discussion from world-renowned scholars on the international aspects of the debt crisis and prospects for resolution. A synthesis of the two perspectives described above results in a holistic approach to quality of life research and may constitute a new methodolo- gical basis upon which a new conceptualisation could be developed.

He empha- sizes that life between buildings is a dimension where social interaction and percep- tion, urban recreation, and sensory experience of city life take place. The con- cept most frequently refers to the degree to which material and immaterial human needs are being met.

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