----------------- HES POSTING ----------------- Colleagues: It is just a little disturbing to follow the discussion about value theory, and see so little reference to Lionel Robbins's 1932 publication on the nature and scope of Economics. (Or have I missed this?) Economics has limitations as a science. All sciences do. They are defined by their limitations. There is also a metaphysical "science" dealing with values. It is called Ethics. It is my personal perception that Emmanuel Kant had much that is reasonable to say about absolute value. Economics deals with relative value. To lay it on Economics because it does not contain the whole of truth is to misunderstand Economics and much much else. Perhaps it was a mistake to drop Philosophy as a requirement for a degree in Economics. Robin Neill ------------ FOOTER TO HES POSTING ------------ For information, send the message "info HES" to [log in to unmask]