: Money is a useful tool, but it has been elevated to a
: ridiculous status where everything has to be measured in
: money - or it doesn't have value.: Many people and organisations in different parts of the
: world are trying to create a New Economics which
: recognises other measures of value, eg New Economics
: Foundation in London. Links to NEF and other relevant sites
: are available from New Economics Network Scotland, a
: local group of NEF.
New economics eh? Well I happen to study Austrian Economics which places the value (and utility) of money in it's place. I doubt many in England and the US have even heard of this school of thought given the dominance of incorrect methods of study of the economy by (neo)classical and Keynesian economists. A small introduction of the Austrian school of economics is "The Foundations of Modern Austrian Economics" introduction by "Dolan". In-depth explanation of the fundamentals of science, epistemology, praxeology, and the like can be found in "Human Action" by "Ludwig von Mises" (often under "v" for "von Mises").
As defined in one of my books, Economics is "A theoretical science which provides a comprehension of the meaning and relevance of purposive (conscious) human actions. It is not about things and material objects; it is about the meanings and actions of men. Economics is a science of the means men must select if they are to attain their humanly attainable ends which they have chosen in accordance with their value judgments. However, the valuation and selection of ends are beyond the scope of economics and every other science. Economics enables men to predict the "qualitative" effects to be expected from the adoption of specific measures or economic policies, but such predictions cannot be "qualitative" as there are no constant relations in the valuations which determine, guide and alter human actions."
None.
