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The Nature of ValueHow to Invest in the Adaptive Economy$
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Nick Gogerty

Print publication date: 2014

Print ISBN-13: 9780231162449

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231162449.001.0001

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The Theory of Value

The Theory of Value

Chapter:
(p.33) Chapter Three The Theory of Value
Source:
The Nature of Value
Author(s):

Nick Gogerty

Publisher:
Columbia University Press
DOI:10.7312/columbia/9780231162449.003.0003

This chapter is theoretical and less directly applicable to investing. It examines the underlying macroprocesses forming both the economy and ecology. It begins by setting straight a few common misperceptions about evolution to provide a better understanding of the power of evolution's process and its relationship to economic value. It then turns to the process of evolution, which generally speaking involves three processes: selection, adaptation, and survival knowledge (selected information) amplification. These processes occur in physical, biological, economic, and posteconomic domains. The remainder of the chapter discusses how linking ecosystem and economy together in the proper context of evolution's process can help us better understand how the economy functions.

Keywords:   economy, ecology, investing macroprocess, evolution, selection, adaptation, survival knowledge amplification

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