----------------- HES POSTING ----------------- 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 ------------ FOOTER TO HES POSTING ------------ For information, send the message "info HES" to [log in to unmask]