Abstract
This chapter justifies the idea that the concept of value is used in society as the proxy to human knowledge exchanges, as well as the respective actions, decisions, and products. Starting by explaining the origins and most important foundations of the concept of value, and then progressing from axiology to economy, different characteristics and types of value are explained. This avenue leads to the ideas of production and consumption values as reflecting what is needed to keep and develop society’s knowledge base. It is also introduced a new concept of created value (CV), which is measured and analyzed in different sectors and countries, and corresponds to the value of new knowledge and therefore of all forms of innovation. As such, the economic cycle is explained as the cycle knowledge-value-knowledge. Moreover, it is proved that all produced value equals the value chain’s labor value and so measures all socially available knowledge, what includes technology and capital. Then and finally, it is concluded that the concept of value emerges as the main metric for knowledge.
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- 1.
The concept of fair value is still in use today (see Directive 2003/51/CE from the European Parliament and the Council, 18 June 2003). In a similar fashion, the fair salary is defined by the Catholic Church social doctrine (Catéchisme… [13], 2434).
- 2.
By value added it will be used the economic concept of gross value added (GVA) as defined in ESA [27], 1.15 and 8.89.
- 3.
Euribor® (Euro Interbank Offered Rate) is the rate at which euro interbank term deposits within the euro zone are offered by one prime bank to another prime bank. http://www.euribor.org/default.htm (accessed May 2008).
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S. C. Fernandes, A. (2013). Value Representing Technology and Knowledge. In: The Contribution of Technology to Added Value. Springer, London. https://doi.org/10.1007/978-1-4471-5001-5_6
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DOI: https://doi.org/10.1007/978-1-4471-5001-5_6
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