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I'd agree with much of what Robin says about Robbins, but Robin's position 
is undermined when he says that "economics deals with relative value." In 
my view, Robbins' economics deals with relative price, not relative value.  
What the relationship of price is to value is a complicated issue that 
necessarily raises questions of ethics.  As economists came to understand 
that, what was taught in micro evolved from being called value theory to 
being called price theory.  Today all we teach is price theory, although by 
the lack of discussion of how price theory does not necessarily reflect 
value, we often mislead students into thinking we are teaching them more 
than what we are.  
 
Dave Colander 
 
 
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