Towards a Dynamic Interpretation of Subjective and Objective Values

Selected Historical Accounts and Principles of Self-Organization


Joseph Schumpeter once observed that “the fundamental explanatory principle of any system of economics is always a theory of value” (1997, 151). In this chapter we focus on the distinction between “objective” versus “subjective” values and offer a theoretical solution to resulting tensions in economic and managerial thought.


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Copyright information

© Springer Fachmedien Wiesbaden 2014

Authors and Affiliations

  1. 1.Center for Leadership and Values in SocietyUniversität St. Gallen (HSG)St. GallenSchweiz
  2. 2.Leuphana Universität LüneburgLüneburgDeutschland

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