Upload
menni
View
219
Download
0
Embed Size (px)
Citation preview
8/10/2019 Hart, Keith - Building the Human Economy. a Question of Value
1/23
#$%&'()$
*
&
+,#-.#/0&$% &%,1(/& 23/3145&(&6, 7$#3/&38&9(-, :
;
&
8/10/2019 Hart, Keith - Building the Human Economy. a Question of Value
2/23
N%" ',1(/ S23/3145 ] Q#$#Y"/P7 T,#."E'()$@ a(9#--" (/.
Q($$(/# ;J*JI #7 ( 7"$ 38 39") $%#)$4 23/2"=$,(- "77(47@ /3/" 38 $%"1
"D=-#2#$-4 3/ 9(-,"? X3 < =37". 147"-8 $%" 6,"7$#3/ A%"$%") $%#7
=)3K"2$ A3,-. %(9" >"/"8#$$". 8)31 >"#/0 #/7")$". 13)" 7"-8R23/72#3,7-4 #/$3 ( .#723,)7" 3/ $%" $%"3)4 38 9(-,"? b3, ()"
8(1#-#() A#$% W(9#. T)(">")P7 N3A(). (/ ]/$%)3=3-30#2(- N%"3)4
38 _(-,"E;JJ*I? < )"7="2$ %#1 (/. $%#7 >33B "/3)13,7-4? '" %(7
(/3$%") >33B #/ =)"77 A%#2% #7 6,#$" ,/-#B" (/4$%#/0 A)#$$"/
>"83)"@ W">$5 N%" [#)7$ c@JJJ b"()7E;J**I@ (/. #$ A(7 (>3,$
;cJ@JJJ A3).7 $%" -(7$ $#1" < 7(A #$? N%" "()-#") >33B #7 (/
#/.#7="/7#>-" 7$()$#/0 =3#/$ 83) (/4 (/$%)3=3-304 38 9(-,"? )3(. )(/0" 38
6,"7$#3/7? T)(">") -33B7 ($ 9(-," (7 731"$%#/0 732#(-@ ("7$%"$#2@
"23/31#2 (/. -#/0,#7$#2?
_(-," $%"3)4 2(/ >" )#03)3,7 (/. 9")4 /())3A@ (7 #/ O(B3>73/P7
E*Fd*I /3$#3/ 38 1()B". .#88")"/2" A%#2% #7 $%"/ (==-#". $3=%3/3-304 (/. 7"1(/$#27? \) ( X(,77,)#(/ (==)3(2% 2(/ >" 9")4
0"/")(- >4 >"#/0 "D$"/.". $3 ( $%"3)4 38 1"(/#/0 #/ -(/0,(0"@
A%#2% (/$%)3=3-30#7$7 $"/. $3 =)"8")? S6,(--4 #/ "23/31#27@
1()0#/(- ,$#-#$4 $%"3)4 #7 "D$)"1"-4 /())3A #/ #$7 83)1,-($#3/ @ >,$@
(7 T)(">") =3#/$7 3,$@ (/$%)3=3-30#7$7 %(9" $)#". $3 "D=(/. #$7 ,7"
$3 $(B" #/ 1,2% >)3(.") $%"3)#"7 38 "D2%(/0" e 3) ($ -"(7$ 9(0,")
$%"3)#"7 38 "D2%(/0"? < 23/2-,." $%($ (/$%)3=3-30#7$7 3/ $%" A%3-"3=$ 83) .#88,7"@ -"77 #/$"--"2$,(--4 )#03)3,7 $%"3)#"7 38 9(-,"? [3)
(8$") (-- 3/" 38 3,) 0)"($ =)3>-"17 #7 $%($ (/$%)3=3-304 #7 ( %3-.#/0
231=(/4 83) ="3=-" $3 .3 A%($ $%"4 -#B" (/. 2(-- #$ L(/$%)3=3-304M?
X3 A" /"". 2($"03)#"7 $%($ %"-= $3 (77"1>-" 3,) 8#/.#/07? N%#7 #7
3/" )"(73/ A%4 A" ()" )"(--4 >(. ($ -#/B#/0 A#$% ="3=-" 8)31 3$%")
.#72#=-#/"7@ 7#/2" A" B/3A A" 2(/P$ 0"$ (A(4 A#$% -337" 1"$%3.7
3,$7#." 3,) 3A/ 2#)2-"?
#
8/10/2019 Hart, Keith - Building the Human Economy. a Question of Value
3/23
8/10/2019 Hart, Keith - Building the Human Economy. a Question of Value
4/23
3==3)$,/#$4 83) ,7 $3 ."9"-3= (-$")/($#9" (==)3(2%"7 $3 $%"
"23/314@ >,$ A" 2(/P$ (77,1" $%($ $%" "/"14 #7 03#/0 $3 )3-- 39")
(/. .#"@ 8() 8)31 #$?
Z"3-#>")(-#71 #7 #$7"-8 ( 23,/$")R)"93-,$#3/ (0(#/7$ $%" 0-3>(-
)"93-,$#3/ $%($ $33B =-(2" (8$") $%" X"23/. h3)-. h() A%"/ $%"
#/.,7$)#(- 732#"$#"7 2311#$$". $%"17"-9"7 $3 "D=(/.#/0 =,>-#2
7")9#2"7 (/. $%" A"-8()" (/. =,)2%(7#/0 =3A") 38 3).#/()4 2#$#Y"/7@
A%#-" $%" S,)3="(/ "1=#)"7 A")" .#7=-(2". >4 ( 7")#"7 38 -#/B".
(/$#R23-3/#(- )"93-,$#3/7? N%" )"7,-$ A(7 A%($ $%" [)"/2% 2(-- -"7
$)"/$" 0-3)#",7"7@ $%" 4"()7 8)31 *Fdc $3 *FGc? N%#7 A(7 K,7$ (>3,$
$%" 3/-4 $#1" #/ %#7$3)4 A%"/ "23/31#2 =3-#24 A(7 ."93$". $3 $%"
#/$")"7$7 38 A3)B#/0 ="3=-" (/. A(7 039")/". >4 ( =%#-373=%4 38
732#(- ."132)(24 A%#2% %(7 7#/2" >""/ )"=-(2". #/ 1(/4 A"7$")/
23,/$)#"7@ "7="2#(--4 $%" S/0-#7%R7="(B#/0 3/"7@ >,$ /3$ 6,#$" 73
1,2% #/ X2(/.#/(9#(? N%#7 1(B"7 X2(/.#/(9#( (/ #/$")"7$#/0 2(7"@
7#/2" 3>9#3,7-4 83) ,7 $%" 7$),00-" (0(#/7$ /"3-#>")(-#71 1"(/7
=()$-4 )"#/7$($#/0 $%" 9(-,"7 38 732#(- ."132)(24@ "9"/ $%3,0% A"
2(/P$ 03 >(2B $3 $%" 7(1" =-(2" A" A")" >"83)"?
N%" %,1(/ "23/314 =-(2"7 "1=%(7#7 3/ A%($ ="3=-" .3 83)
$%"17"-9"7@ A%#-" 23/2"#9#/0 38 $%" -()0") A%3-" (7 (-- 38 %,1(/#$4?
X3 #$ #7 >3$% (>3,$ A%($ ="3=-" .3 (/. $%" 7="2#"7P =-(/"$()4
=)3K"2$ 38 (77,1#/0 )"7=3/7#>#-#$4 83) -#8" 3/ "()$%? N%" #."( 38 (
%,1(/ "23/314 #7 /3$ ( .)"(1 3) ,$3=#(? ""/ 3>72,)".@
1()0#/(-#Y". 3) )"=)"77". >4 13."-7 38 "23/314 $%($ .31#/($" #/
$%" ,/#9")7#$#"7 (/. $%" 1".#(? N%" .#88")"/2" >"$A""/ 3,)
=37#$#3/ (/. $%($ 38 $%" )"93-,$#3/()4 -"8$@ A%3 -(2B ( 23/2)"$"
=)30)(1 83) A%")" $%"4 A(/$ $3 03@ #7 $%($ A" >"-#"9" A" 2(/
#."/$#84 ( /"A .#)"2$#3/ 83) 732#"$4 >(7". 3/ A%($ ="3=-" ()" .3#/0
(-)"(.4@ >,$ A#$% ( /"A 231>#/($#3/@ .#)"2$#3/ (/. "1=%(7#7?
%
8/10/2019 Hart, Keith - Building the Human Economy. a Question of Value
5/23
X3 A%4 ()" A" 2(--#/0 $%" "23/314 L%,1(/M: " 23/2"#9".
38 (7 >"#/0 1(." (/. )"1(." >4 ="3=-" #/ $%"#) "9")4.(4 -#9"7@ 73
$%($ (/4 "23/31#27 .")#9". 8)31 7$,.4#/0 #$ 1,7$ >" 38 =)(2$#2(-.(#-4 ,7"? X"23/.@ ( %,1(/ "23/314 (..)"77"7 ( 0)"($ 9()#"$4 38
=()$#2,-() 7#$,($#3/7 #/ (-- $%"#) #/7$#$,$#3/(- 231=-"D#$4@ 73 3,)7 #7
"77"/$#(--4 (/ #/7$#$,$#3/(- (==)3(2%? N%#).@ #$ #7 >(7". 3/ ( 13)"
%3-#7$#2 23/2"=$#3/ 38 ="3=-"P7 /"".7 (/. #/$")"7$7 $%(/ #7 83,/. #/
8)"" 1()B"$ "23/31#27? [#/(--4@ (7 < %(9" (-)"(.4 7(#.@ #$ 1,7$
(..)"77 %,1(/#$4 (7 ( A%3-" (/. $%" A3)-. 732#"$4 A" ()" 1(B#/0?
N%" %,1(/ "23/314 #7 (-)"(.4 "9")4A%")"@ 73 #$ .3"7/P$ %(9" $3>" 1(." 8)31 72)($2%? ]-- $%" 83)17 38 %,1(/ "23/314 $%($ %(9"
"D#7$". (/. $3 731" "D$"/$ A#-- "D#7$ 2(/ (-)"(.4 >" 83,/. 7#." >4
7#." #/ 9()#3,7 231>#/($#3/7?
h" ()" 6,#$" ,7". $3 ( `()D#7$ 7$(0"7 $%"3)4 38 %#7$3)4 #/ A%#2%
8",.(-#71 #7 )"=-(2". >4 2(=#$(-#71 A%#2% #7 )"=-(2". >4 732#(-#71
(/. =")%(=7 >4 2311,/#71? N%" (==)3(2% A" $(B" 2(/ >" 83,/.
#/ '"0"-P7 N%" V%#-373=%4 38 i#0%$E*j;*I A%")" %" "D(1#/"7/($,)(- 83)17 38 732#"$4 -#/B". $3 $%" 8(1#-4 (/. $%" -(/. (-3/07#."
,)>(/ 2#9#- 732#"$4 E$%" 1()B"$ 3) 2(=#$(-#71I (/. $%" 7$($"? +,$ %"
23/2"#9"7 38 $%"7" $%)"" 7=%")"7 /3$ (7 7,22"".#/0 "(2% 3$%")@ >,$
(7 23R"D#7$#/0 (/. >"#/0 233).#/($". $%)3,0% $%" 7$($"? h" $33 8""-
#$ #7 #1=3)$(/$ $3 3="/ ,= 3,) 9#7#3/ 38 A%($ %,1(/ >"#/07 ()"
(-)"(.4 .3#/0@ %(9" .3/" (/. 1#0%$ .3?
8/10/2019 Hart, Keith - Building the Human Economy. a Question of Value
6/23
)"93-,$#3/()4 $)(.#$#3/ A%#2% 23/2"#9"7 38 =)30)"77 (7 72)(==#/0
A%($ A" %(9" #/ 731" #."(-#Y". 83)1 (/. )"=-(2#/0 #$ A#$% #$7
/"0($#3/?
N%" 3>K"2$ 38 "23/314 A(7 (-A(47 $3 )"=)3.,2" %,1(/ -#8" (/.
A%($"9") 7,7$(#/7 #$? N%($ #7 $3 7(4 $%($ $%" 3>K"2$ 38 "23/314 A(7
$%" %,1(/ >"#/0? N%#7 #7 ( 23/9"/$#3/(- (>7$)(2$#3/? U/.")
2(=#$(-#71@ (7 A" B/3A@ %,1(/ -#8" %(7 >"231" ( 7"23/.()4 1"(/7
38 1(B#/0 13/"4? \/" (7="2$ 38 `()D#71 #7 $%($ $%"4 -#B" $3 $%#/B
$%($ $%"#) #."( 38 =)30)"77 #7 )"#/83)2". >4 ( 72#"/$#8#2
,/.")7$(/.#/0 38 %#7$3)4 (7 A" -#9" #$? < (-73 $)4 $3 .#7239") $%"
732#(- 83)2"7 $%($ 1(B" 3,) A3)-.@ -#/B". $3 7,2% =)32"77"7 (7
0-3>(-#Y($#3/@ $%" #/$")/"$ (/. 73 3/@ $%($ 1#0%$ >" 7(#. $3 >"
=,7%#/0 $%" =377#>#-#$#"7 83) "23/314 $3A().7 ( /"A "1=%(7#7 3/
=)3.,2#/0 $%" %,1(/ >"#/0 )($%") $%(/ =)3.,2#/0 $%#/07 $%)3,0%
%,1(/ >"#/07?
N%" #."( 38 ( %,1(/ "23/314 #7 1(/4 732#(- )"2#="7 ()$#2,-($". >4
( ,/#84#/0 9#7#3/ A#$% $%" (#1 38 0"/")($#/0 ( 23113/ -(/0,(0" 83)
=)30)"77? #/"7 A%($ "(2% 38 ,7 .3"7 #/ 3,) .(#-4 -#9"7 A#$%
A%($ A" 1#0%$ >"231" (7 ( 7="2#"7? "$A""/? `4
A3)B 3/ 13/"4@ "7="2#(--4 7#/2" < =,>-#7%". N%" `"13)4 +(/B
E'()$ ;JJJI@ %(7 >""/ (#1". ($ $)4#/0 $3 ,/.")7$(/. 13/"4 (7 $%"
1"(/7 38 1".#($#/0 >"$A""/ $%"7" "D$)"1"7? ""/ $%)3,0% ( 2"/$,)4 A%"/@ #/ $%" /(1" 38
#/.#9#.,(- 8)"".31@ 1()B"$ 732#"$4 0"/")($". $%" 137$ "D$)"1"
'
8/10/2019 Hart, Keith - Building the Human Economy. a Question of Value
7/23
83)17 38 #/"6,(-#$4@ A%#-" #/ $%" /(1" 38 "6,(-#$4 /3/R1()B"$
732#"$4 #/7$(--". $%" 137$ 23")2#9" >,)"(,2)(2#"7 B/3A/ $3 %,1(/
%#7$3)4? X3 A" 1,7$ )"23/2#-" 8)"".31 (/. "6,(-#$4 #/ A(47 $%($ 03
>"43/. $%"#) 7"=()($" 8(#-,)" #/ $%" $A"/$#"$% 2"/$,)4? N%" 1()B"$#7 -"0#$#1($" #/ 3,) 9#"A? h" 7,>72)#>" $3 ( $)(.#$#3/ $%($ #/2-,."7
`()2"- `(,77 E*F;cC 7"" '()$ ;JJGI (/. !()- V3-(/4# E*FddC 7""
'(// (/. '()$ ;JJFI A%3 $%3,0%$ $%($ 1()B"$7 ()" ( 033. $%#/0 e
$%"4 0"$ ,7 3,$ 38 3,) $)(.#$#3/(- #/7,-()#$4C $%"4 "D$"/. 732#"$4 $3
>"231" 13)" #/2-,7#9"C $%"4 =)39#." ( 1"(7,)" 38 8)"".31 83)
#/.#9#.,(-7 (/. 1#/3)#$#"7? +,$ 1()B"$7 A#$%3,$ -#1#$7@ 38 $%" 73)$
$%($ A" %(9" A#$/"77". #/ $%" -(7$ $%)"" ."2(."7@ $%)"($"/."132)(24 #$7"-8? X3 A" /"". $3 8#/. A(47 38 #/23)=3)($#/0 1()B"$7
#/$3 "23/314 A#$%3,$ 0#9#/0 $%"1 $%" B#/. 38 8)"" %(/. $%"4 %(9"
%(.?
]$ $%" 23)" 38 $%#7 %,1(/ "23/314 =)3K"2$ -#"7 $%" /"". $3
231>#/" $%"3)"$#2(- (/. =)(2$#2(- A3)B? N%"4 1,7$ (-A(47 >"
2-37"-4 ()$#2,-($".? N%" -(7$ h3)-. X32#(- [3),1 #/ ;JJF ($ +"-k1
#/ +)(Y#- >)3,0%$ $30"$%") (2$#9#7$7 (/. )"7"()2%")7 ()3,/. $%" #."(38 231>#/#/0 ."132)(24 (/. 72#"/2" #/ 731" =)(2$#2(- A(4C (/.
2")$(#/-4 < %3=" $%($ $%#7 >33B 1#0%$ 388") ( 0,#." $3 %3A $%"3)4
(/. =)(2$#2" 1#0%$ >" 231>#/". #/ 1(/4 .#88")"/$ ()"(7? h" (-73
>"-#"9" $%($ $%")" #7 (/ #1=3)$(/$ )3-" 83) $%" 7$($" #/ 0,()(/$""#/0
$%" 732#(- )#0%$7 38 2#$#Y"/7 (/. (7 ( )".#7$)#>,$#9" 1"2%(/#71 $%($
2(//3$ >" (2%#"9". >4 7"-8R%"-= 3)0(/#Y($#3/7? +,$ )"-#(/2" 3/ 7$($"
0,()(/$""7 38 $%($ 73)$ 1,7$ 03 A#$% 93-,/$()4 7"-8R3)0(/#Y($#3/>(7". 3/ .#88")"/$ 83)17 38 73-#.()#$4 A%#2% $"/. $3 >" $%" ()"(7
$%($ A" #/9"7$#0($" 137$ 2-37"-4? X3 8)"".31 (/. "6,(-#$4 .3/P$ K,7$
231" 8)31 1()B"$ 23/$)(2$7 (/. 2#$#Y"/7%#=@ >,$ (-73 8)31 $%"
1,$,(-#$4 (/. "0(-#$()#(/#71 38 ="3=-" -#9#/0 $30"$%")? N%#7 #7 (
7$"(- 83) (/$%)3=3-30#7$7@ 38 23,)7"? h%($ "-7" .3 A" .3 $%(/ $)4 $3
7"" %3A ="3=-" 1(B" $%#/07 A3)B $%"17"-9"7:
(
8/10/2019 Hart, Keith - Building the Human Economy. a Question of Value
8/23
,$
/3A #/ S/0-#7% 83) $%" 8#)7$ $#1"? X3 A" ()" "D2#$". $3 8#/. 3,$ A%($%(=="/7 A%"/ (-- $%"7" 7="(B")7 38 a($#/ -(/0,(0"7 %#$ $%" S/0-#7%R
7="(B#/0 A3)-.? h"--@ < %(9" 1(/(0". $3 $%)3A ( 8"A ]/0-3=%3/"7
#/ $33@ "9"/ 731" X2(/.#/(9#(/7l ]2$,(--4 A" %(9" 83,) (,$%3)7
8)31 X2(/.#/(9#( #/ $%" >33B?
] /3$" 3/ 8)"" 1()B"$ "23/31#27
+"83)" 139#/0 3/@ < 7%3,-. 7(4 731"$%#/0 (>3,$ -#>")(-"23/31#27? Z"3-#>")(- =3-#2#"7 A#$%.)"A =3-#$#2(- 23/$)3-7 8)31
1()B"$7 ($ $%" 7(1" $#1" (7 7(/2$#3/#/0 $%" #/9(7#3/ 38 =,>-#2 (/.
.31"7$#2 -#8" >4 1()B"$7? N%#7 =)32"77 #7 ,/"9"/-4 7=)"(. (2)377
732#"$#"7? N%" 8#/(/2#(- 2)#7#7 (/. $%" "23/31#2 ."=)"77#3/ $%($ #7
>,#-.#/0 3/ #$7 >(2B %3-". 8)"" 1()B"$ "23/31#27 >"-3A $%" A($")?
< .3/P$ $%#/B #$ #7 =377#>-" (/4 13)" $3 ()0," $%($ $%" "23/314 #7
>"7$R7")9". >4 -"(9#/0 1()B"$7 $3 >" 7"-8R3)0(/#Y". A#$%3,$ =3-#$#2(-
#/$")8")"/2"? h%($"9") "-7"@ $%($ %(7 03/" (/. A#$% #$ A" %(9" 3,)
3="/#/0? "($ ,= 3/ $%" "23/31#7$7@ >,$ " (/ "23/31#2 (/$%)3=3-30#7$ #8 < .#./P$ >"-#"9" #/ $%"
%#7$3)#2(- =)3K"2$ 38 "23/31#27 A%#2% %(7 >""/ .">(7". >4 $%"
"23/31#7$7@ "7="2#(--4 #/ $%" -(7$ %(-8R2"/$,)4? h" 7%3,-. /3$ (--3A
3,) .#70,7$ A#$% $%" >-($(/$-4 #."3-30#2(- ,7"7 38 /"32-(77#2(-
"23/31#27 #/ =)3.,2#/0 ,/."132)($#2 3,$231"7 #/ 3,) 732#"$#"7 $3
-"(. ,7 $3 .#723,/$ $%" 1()0#/(-#7$ )"93-,$#3/ E',$2%#/73/ *FGjI
A%#2% -(,/2%". 13.")/ "23/31#27 #/ #$7 =)"7"/$ 83)1? h" 7%3,-.
)"1"1>") $%($ "23/31#27 A(7 $%" 8#)7$ 732#(- .#72#=-#/" $3
#/$)3.,2" ( 7,>K"2$#9" $%"3)4 38 9(-,"? N%")" ()" (-- B#/.7 38
=)3>-"17 A#$% $%#7 =()$#2,-() $%"3)4@ "7="2#(--4 #$7 )"-#(/2" 3/
=)#2"7 (7 ( =)3D4 83) 9(-,"? Z"9")$%"-"77@ #$ =)393B". (/.
"/23,)(0". 731" 38 $%" 137$ =)30)"77#9" 732#(- $%3,0%$ $%($ A"
)
8/10/2019 Hart, Keith - Building the Human Economy. a Question of Value
9/23
7$#-- )"-4 3/ $3.(4@ 7,2% (7 `(D h">")@ T"3)0 X#11"-@ N(-23$$
V()73/7 (/. 3$%")7?
]-8)". `()7%(-- 74/$%"7#Y". $%)"" 7"=()($" .#7239")#"7 38 $%"
1()0#/(- ,$#-#$4 =)#/2#=-" 8)31 $%" *jGJ7? '" A(7 `(4/(). !"4/"7P
$"(2%") ($ Q(1>)#.0" (/. %" A)3$" ( >33B 2(--". V)#/2#=-"7 38
S23/31#27#/ *jFJ@ $%" 7(1" 4"() $%($ $%" aXS A(7 83,/.".? ")(- #/.#9#.,(-#71
A#$% 233=")($#9" 732#(-#71 38 $%" 73)$ "1>)(2". >4 (,77 (/. (
'"0"-#(/ %#7$3)#2(- $%"3)4 38 $%" 7$($" (7 ( )".#7$)#>,$#9" (0"/24? '"
A(7 ( 1"1>") 38 ( a(>3,) $%#/B $(/B@ N%" [(>#(/ X32#"$4@ 7"$ ,=
>4 $%" h">>7? '" >"-#"9". $%($ 1()0#/(- ,$#-#$4 #/ ( 732#"$4 A3,-.
>" 1(D#1#Y". A%"/ (-- #/231"7 A")" "6,(-? X3 #$ #7 /3$
23#/2#."/$(- $%($ !"4/"7 A(7 %#7 =,=#-?
]$ $%" 7(1" $#1" (7 $%#7 $%"3)4 A(7 >"#/0 ."9"-3=". >4 `()7%(--@
23)=3)($#3/7 A3/ $%" )#0%$ $3 >" $)"($". #/ -(A $%" 7(1" A(4 (7
#/.#9#.,(- 2#$#Y"/7@ 8#)7$ 38 (-- #/ $%" U/#$". X$($"7 (/. $%"/ 13)"
A#."-4? < ()0," E'()$ ;JJcI $%($ $%" 23--(=7" 38 $%" .#88")"/2"
>"$A""/ )"(- (/. ()$#8#2#(- =")73/7 #/ -(A@ A%#2% A(7 0)(/$". $3
>,7#/"77"7@ >,$ /3$ $3 3$%") ()$#8#2#(- =")73/7@ 7,2% (7 2%,)2%"7 (/.
=3-#$#2(- =()$#"7@ -#"7 ($ $%" %"()$ 38 3,) =)3>-"17 38 ,/.")7$(/.#/0
3,) =3-#$#2(- .#88#2,-$#"7? \)0(/#Y($#3/7 A#$% $%" -3/0"9#$4@ A"(-$%
(/. =3A") 38 23)=3)($#3/7 7%3,-. /3$ %(9" $%" 7(1" %,1(/ )#0%$7
(7 #/.#9#.,(- 2#$#Y"/7? N%" UX X,=)"1" Q3,)$ %(7 )"2"/$-4 ),-".
(0(#/7$ )"7$)#2$#/0 23)=3)($#3/7P (>#-#$4 $3 8#/(/2" =3-#$#2(-
2(1=(#0/7 3/ $%" 0)3,/.7 $%($ #$ A3,-. #/8)#/0" $%"#) %,1(/ )#0%$
$3 .3 73? ())". 8)31 =,$$#/0 ( %,0" %4=")1()B"$ #/
$%" 1#..-" 38 ( 71(-- $3A/ #/ ,==") Z"A b3)B 7$($"@ #$ 2(/ $(B"
$%($ $3A/ $3 23,)$ 83) .#72)#1#/($#3/ >4 ( =,>-#2 >3.4? N%"4 2(/
(883). $3 B""= 03#/0 >(2B $3 $%" 23,)$7 ,/$#- $%"4 A#/ (/. #/ 1(/4
2(7"7 $%"4 .3/P$ %(9" $3 03 $3 23,)$@ >"2(,7" ="3=-" B/3A #$ #7*
8/10/2019 Hart, Keith - Building the Human Economy. a Question of Value
10/23
%3="-"77? h%($ #/$")"7$7 1" #7 $%" =377#>#-#$4 38 )"$,)/#/0 $3 $%"
3)#0#/(- 9#7#3/ 38 1()0#/(-#7$ "23/31#27 $%($ `()7%(-- ()$#2,-($". e
( 231>#/($#3/ 38 233=")($#9" 732#(-#71@ A%#2% A(7 A%($ $%"
a(>3,) V()$4 )"=)"7"/$". ($ $%($ $#1"@ (/. -#>")(- #/.#9#.,(-#71@>,$ /3$ 83) 23)=3)($#3/7@ (/. ( %#7$3)#2(- $%"3)4 38 $%" )#7" 38 $%"
A"-8()" 7$($"?
`()D 3/ $%" 23113.#$4 (7 9(-,"R83)1d
Z3A < A3,-. -#B" $3 0"$ $3 $%" %"()$ 38 14 $)"($1"/$ 38 $%" 9(-,"
6,"7$#3/@ A%#2% #7 `()D 3/ $%" 23113.#$4 (7 9(-,"R83)1? `()D
>"-#"9". $%($ A%($ 23,/$7 #/ $%#7 A3)-. #7 ="3=-"@ 1(2%#/"7 (/.13/"4@ #/ $%($ 3).")? +,$ 2(=#$(-#71 %(7 #/9")$". $%($ 3).")@ 73 $%($
13/"4 >,47 1(2%#/"7 $%($ 1(B" ="3=-" A3)B? \,) =3-#$#2(- $(7B #7
$3 $,)/ #$ $%" 3$%") A(4 )3,/.? X3 ( 0)"($ ."(- 38 %#7 $%"3)"$#2(-
A3)B 23/2")/7 %3A $3 )"9")7" $%" 7,>3).#/($#3/ 38 ="3=-" $3
$%#/07? '#7 9(-," $%"3)4 $(B"7 388 8)31 $%($ =)"1#7"? `()D %#17"-8
$%3,0%$ $%($ %#7 $%"3)4 38 7,)=-,7 9(-," (7 $%" "/0#/" 38 2(=#$(-#7$
."9"-3=1"/$ A(7 %#7 7#/0-" 137$ #1=3)$(/$ 23/$)#>,$#3/? h%($ .#.
%" 1"(/ >4 $%#7: N%($ 2(=#$(-#71 A(7 8",.(-#71 #/ .)(0? U/.")
8",.(-#71 ="3=-" ()" 231="--". $3 A3)B 83) ( -(/.3A/") (/. =(4
)"/$ #/ 9()#3,7 83)17? N%"4 ()" 23")2". >4 =3-#$#2(- =3A") (/.
A%($ #7 "D$)(2$". 8)31 $%"#) A3)B #7 7,)=-,7 -(>3,)? N%"4 .3 $%"
A3)B (/. 731" =()$ 38 #$ #7 .#9")$". $3 $%" ,7" 38 731"3/" A%3
.3"7/P$ .3 $%" A3)B? '" $33B $%($ /3$#3/ (/. 7(#. $%($ >(7#2(--4
2(=#$(-#71 #7 $%" 7(1" #/ $%($ ="3=-" ()" 83)2". $3 A3)B 83) 2(=#$(-
d< (1 #/.">$". $3 W"713/. `2Z"#--P7 E;J** m*FjjnI ["$#7%#71
(/. $%" _(-,"R[3)15 N3A().7 ( 0"/")(- $%"3)4 38 9(-,"? 3,)? X3@ 7,)=-,7 -(>3,) #7 "D$)(2$". #/ ( 7#1#-() A(4 (/.
A#$% 7#1#-() "/.7?
N%" .#88")"/2" >"$A""/ 2(=#$(-#71 (/. 8",.(-#71@ %3A"9")@ #7 $%($
7,)=-,7 -(>3,) $(B"7 $%" 83)1 38 "D2%(/0" 9(-," ,/.") 2(=#$(-#715
$%" =)3.,2$ 23/7#7$7 38 23113.#$#"7 73-. 83) 13/"4 38 A%#2% $%"
2(=#$(-#7$ )"$(#/7 ( 7%()"? [3) $%($ )"(73/ Q(=#$(- E`()D *jfGI %(7
(7 #$7 7$()$#/0 =3#/$ $%" #."( 38 $%" 23113.#$4? ] 23113.#$4 #7 (
,7"8,- =)3.,2$ 38 -(>3,) A%37" "D2%(/0" 9(-," ()#7"7 $%)3,0% (
732#(- =)32"77 38 (>7$)(2$#3/? N%" #1=3)$(/$ =3#/$ #7 $%($ -(>3,)
>"231"7 732#(- >4 >"#/0 .)(A/ #/$3 ( 1()B"$ A%")" $%" =)3.,2$7
38 -(>3,)@ A%($"9") ,7" $%"4 1(4 %(9" e 73(= 83) A(7%#/0 43,)7"-8
3) A%($"9") e >"231"7 732#(- >4 "/$")#/0 #/$3 )"-($#3/7 A#$% (--
3$%") 23113.#$#"7 >4 >"#/0 >3,0%$ (/. 73-. 83) 13/"4 #/ $%"
1()B"$? N%#7 #7 >3$% $%" 1"(/7 38 )"=)3.,2#/0 2(=#$(-#7$
"D=-3#$($#3/ (/. $%" (/7A") $3 #$? +4 >)#/0#/0 ="3=-" $30"$%") 3,$
38 $%"#) ),)(- #73-($#3/ #/$3 #/.,7$)#(- 2#$#"7@ 2(=#$(-#7$7 ()" (2$,(--42)"($#/0 $%" 1"(/7 83) A3)B#/0 ="3=-" $3 231>#/" 13)" "88"2$#9"-4
(/. #/ ( -"77 "D=-3#$($#9" 83)1 38 "23/31#2 3)0(/#Y($#3/? [3) $%#7
)"(73/@ `()D 7$()$7 3,$ >4 7(4#/0 $%($ 23113.#$#"7 ()" >3$% (
6,(-#$4 (/. ( 6,(/$#$4? N%"4 ()" $%#/07 $%($ %(9" 9(-," #/ ,7" RR ,7"
9(-," 3) ,$#-#$4 (7 $%" 1()0#/(-#7$7 A3,-. 7(4 RR >,$ $%"4 (-73 %(9"
(>7$)(2$ "D2%(/0" 9(-," A%#2% (--3A7 $%"1 $3 >"231" 732#(- #/
#/$")(2$#3/ A#$% "(2% 3$%") $%)3,0% $%" 1"(/7 38 13/"4?
N%" #77," #7 $3 "D=-(#/ %3A -(>3,) #7 1(." 732#(-? `()D
(==)3(2%"7 $%#7 #/ (/3$%") A(4 $%)3,0% $%" 23/2"=$ 38 L732#(--4
/"2"77()4 -(>3,) $#1"M? '3A #7 #$ $%($ `(/2%"7$") 2(/ ."7$)34 $%"
A"(9#/0 #/.,7$)4 #/ +"/0(-: '3A 2(/ ="3=-" A3)B#/0 #/ 8(2$3)#"7@
1(B#/0 $"D$#-"7 >4 ,7#/0 1(2%#/"7@ .)#9" 3,$ ( 2"/$,)#"7R3-.
A"(9#/0 #/.,7$)4 7#1=-4 >4 =)39#.#/0 2-3$% 38 ( 7#1#-() 6,(-#$4 ($ (
-3A") =)#2": N3 $(B" ( 13)" 23/$"1=3)()4 "D(1=-"@ < B/3A (!!
8/10/2019 Hart, Keith - Building the Human Economy. a Question of Value
12/23
Z3)$% ]8)#2(/ O"A#7% "/$)"=)"/",) #/ [)(/2" A%3 ),/7 ( 7$)#/0 38
23/$(2$ -"/7 7$3)"7? '" 7"--7 $%"1 83) ;JJo ( =(#)? N%"7" 23/$(2$
-"/7"7 ()" /3A 73-. #/ Q%#/( 83) *do? '" 388")". $3 .#7$)#>,$" $%"1
83) $%" Q%#/"7"@ >,$ $%"4 %(. 3$%") #."(7 (>3,$ $%($? X3 /3A %" #7-33B#/0 83) ( 7,2B") $3 >,4 $%" 2%(#/ >"83)" #$P7 $33 -($"? ] 033.
."(- 38 `()DP7 9(-," $%"3)4 #7 (#1#/0 $3 (..)"77 $%"7" %,0" 7%#8$7 #/
$%" )"-($#9" 9(-," 38 23113.#$#"7 =)3.,2". #/ 731" =-(2"7 (7
3==37". $3 3$%")7? '#7 #/$")"7$ #7 -"77 #/ "D=-(#/#/0 A%4 (/ (==-" #7
A3)$% 73 1,2% #/ )"-($#3/ $3 ( ="() $%(/ #/ A%4 $%" +"/0(- A"(9")7
A")" A#=". 3,$? N%" (/7A") #7 $%($ $%" 732#(--4 /"2"77()4 -(>3,)
$#1" 83) =)3.,2#/0 `(/2%"7$") $"D$#-"7 %(7 >""/ )(.#2(--4 )".,2".>4 1(2%#/" #/.,7$)4?
< %(9" (-)"(.4 1"/$#3/". $%($ `()D $(B"7 $%" #."( 38 $%"
23113.#$4 (/. $,)/7 #$ #/$3 A%($ #7 =377#>-4 $%" 137$ .#88#2,-$ (/.
#1=3)$(/$ (7="2$ 38 %#7 $%"3)4@ A#$% A%#2% %" 23/2-,."7 $%" 8#)7$
2%(=$") 38 Q(=#$(-93-,1" *@ $%" 8"$#7%#71 38 23113.#$#"7? N%"
2"/$)(- #."( #7 $%($ "23/314 E3) =)3.,2$#3/I #7 )"-($#3/7 >"$A""/
="3=-"@ >,$ $%)3,0% $%" =)#3)#$4 0#9"/ $3 $%" 2#)2,-($#3/ 3823113.#$#"7 >3,0%$ (/. 73-. 83) $%"#) "D2%(/0" 9(-,"@ A" (=="()
$3 >" -#9#/0 #/ ( A3)-. A%")" $%" .31#/(/$ )"-($#3/7 ()" >"$A""/
$%#/07 )($%") $%(/ ="3=-"? [3) %#1@ $%#7 #7 ($ 3/" -"9"- $%" 7(1" (7
)"-#0#3,7 8"$#7%#71@ $%" #."( $%($ 731" 7=#)#$,(- (0"/$ #7 )"7=3/7#>-"
83) 3,) (2$#3/7? N%" .#88")"/2" >"$A""/ 23113.#$4 8"$#7%#71 (/.
)"-#0#3,7 8"$#7%#71 #7 $%($ ="3=-" 9#7#>-4 1(B" 23113.#$#"7 (/. #$ #7
"(7#") $3 ."13/7$)($" $%($ 8(2$ (0(#/7$ $%" 23113/ "D=")#"/2" 38,7 (-- .(/2#/0 $3 $%" =)#2" 8-,2$,($#3/7 38 23113.#$#"7 39") A%#2%
A" %(9" /3 7(4 (/. "9"/ -"77 2%(/2" 38 23/$)3-?
[#/(--4@ `()D (/. S/0"-7 %"-. $%($ =)#9($" =)3=")$4 e A%#2% %(.
>""/ 3/" 38 `()DP7 1(#/ 23/2")/7 8)31 $%" >"0#//#/0 RR 2(//3$
3)0(/#Y" $%#7 #/2)"(7#/0-4 #/$")."="/."/$ 2(=#$(-#7$ "23/314?
8/10/2019 Hart, Keith - Building the Human Economy. a Question of Value
13/23
$(7B 38 9(-," $%"3)4 83) `()D $%"/ #7 $3 )"9"(- 3,) 23--"2$#9" (0"/24
#/ 732#"$4? N%#7 #7 A%4 %" $%3,0%$ $%($ 7,)=-,7 9(-," A(7 %#7 137$
#1=3)$(/$ $%"3)"$#2(- 23/$)#>,$#3/? < (1 7,)" 43, ()" (-)"(.4
8(1#-#() A#$% 137$ 38 $%#7@ >,$ < %(. $3 7="-- 3,$ A%($ < 23/7#.") $3>" 2"/$)(- $3 `()DP7 $%3,0%$?
Q3113.#$#Y($#3/
< /3A A(/$ $3 $,)/ $3 ( 23/2"=$ $%($ < 8#)7$ A)3$" (>3,$ $%)""
."2(."7 (03@ L23113.#$#Y($#3/M E'()$ *Fj;@ *FjGI? `(/4 ="3=-"@
A%"/ $%"4 A)#$" (>3,$ 23113.#$#"7@ %(9" ( =)"8"))". ."8#/#$#3/ e
A%"$%") 3/" (/2%3)". #/ (/ 3>K"2$#9" 2-(77#2(- 3) `()D#7$ $%"3)4 38732#(- 9(-," 3) 3/" $%($ #7 7,>K"2$#9" (/. #/.#9#.,(- -#/B". $3 ,$#-#$4
(/. 23/7,1=$#3/? i($%") $%(/ $377#/0 ,= $3 ."2#." A%#2% B#/. 38
."8#/#$#3/ A" 8#/. ($$)(2$#9"@ < $%3,0%$ #$ A3,-. >" 033. $3 =,$
731" 38 $%"1 $30"$%") #/ ( =)32"77 $%($ A(7 6,(7#R%#7$3)#2(- (/. " ."$(2%". 8)31 ,7 #/ ( 83)1
$%($ 2(/ >" 7%()". 3) $)(/78"))". 3) 2#)2,-($".? N%")" ()" 1(/4
A(47 83) $%#7 $3 322,)@ /3$ K,7$ $%)3,0% 13/"4?
X3 < ."8#/". 23113.#$#Y($#3/ (7 L$%" =)30)"77#9" (>7$)(2$#3/ 38
732#(- -(>3,)M (/. < 832,7". 3/ $%" -(>3,) 7")9#2"7 $%($ =)3.,2"
23113.#$#"7? `4 7$()$#/0 =3#/$ A(7 $%($@ (-$%3,0% "()-4#/.,7$)#(-#71 =,$ (/ "/3)13,7 "1=%(7#7 3/ $%" "77"/2" 38
"23/314 (7 1(/,8(2$,)#/0 $%#/07 RR (/. "9"/ /3A #/ $%"
/"A7=(=")7 L23113.#$#"7M )"8")7 $3 $%#/07 )#==". 3,$ 38 $%"
0)3,/. (/. $)(/7=3)$". #/$")/($#3/(--4@ -#B" $#/ (/. Y#/2@ 2323( (/.
2388"" e $%" 8,$,)" 38 $%" %,1(/ "23/314 -#"7 #/ A%($ A" .3 A#$%
(/. 83) "(2% 3$%")? V")73/(- 7")9#2"7 ,7". $3 >" 7$)3/0-4 (/2%3)".
#/ =-(2"5 #/ 3).") $3 0"$ 43,) %(#) 2,$@ 731">3.4 %(. $3 2,$ #$ 3/
!$
8/10/2019 Hart, Keith - Building the Human Economy. a Question of Value
14/23
$%" 7=3$C 83) 731"3/" $3 A(7% 43,) 2-3$%"7@ $%"4 %(. $3 231"
)3,/. $3 43,) %3,7" 3) 43, $33B 43,) A(7%#/0 $3 $%"1? \9") $%"
-(7$ $A"/$4 4"()7 3) 73@ $%" =377#>#-#$4 38 =)39#.#/0 7")9#2"7 ($
.#7$(/2" %(7 >""/ 1(77#9"-4 "D=(/.". >4 $%" .#0#$(- )"93-,$#3/ #/2311,/#2($#3/7? ]7 ( )"7,-$@ $%" 8(7$"7$R0)3A#/0 7"2$3) 38 $%" A3)-.
"23/314 #7 7")9#2"7@ 2,-$,)(- 23113.#$#"7 -#B" "/$")$(#/1"/$@
7=3)$@ 1".#(@ ".,2($#3/ "$2? < 23,-. (7B 43, ( N)#9#(- V,)7,#$
6,"7$#3/5 A%($ #7 #$ $%($ `(/2%"7$") (/. V%#-(."-=%#( %(9" #/
23113/: N%"4 A")" >3$% #/.,7$)#(- 2#$#"7 A%37" -()0"7$ "1=-34")
#7 /3A $%"#) 1(#/ ,/#9")7#$4? N%#7 #7 /3$ $3 1"/$#3/ #/83)1($#3/
7")9#2"7@ 738$A()" (/. $%" )"7$ 38 #$? N%" U/#$". X$($"7P $%)""=)#/2#=(- "D=3)$7 $%"7" .(47 ()" 139#"7@ 1,7#2 (/. 738$A()"? N%"4
%(9" (-A(47 "D=3)$". $%"#) A(4 38 -#8" (7 ( 2311")2#(- (77"$? h"
()" 231#/0 ,= $3 $%" h3)-. Q,= A%#2% A#-- 0"/")($" $"-"9#7#3/
(,.#"/2"7 38 $%)"" >#--#3/ ="3=-"@ $%" $3$(- 7#Y" 38 $%" %,1(/ )(2"
#/ *FfJ? O,7$ #1(0#/" ( ,/#8#". 0-3>(- (,.#"/2" 38 $%($ 7#Y"@ ($ -"(7$
83) $%" 8#/(-? ]/. A%($ #7 >)#/0#/0 (-- $%"7" ="3=-" $30"$%"): X=3)$?
,$ /3$ 83) $%" /,1>") 38 A(7%#/0 1(2%#/"7 3)
231=,$")7 A" 2(/ 7"-- "(2% 3$%")?
#-#$#"7 83) 3,) 0)(/.2%#-.)"/M E!"4/"7 *FHJI
A%")" %" 7(#. $%($ #/ ( 2"/$,)4 $%")" A3/P$ >" ( /"". 83)
"23/31#27 (/4 13)"? 3)#/0@ 1#7")(>-" =)"322,=($#3/?
h" 2(/ 73-9" (-- 3,) "23/31#2 =)3>-"17 (/. $%"/ 0"$ 3/$3 $%"#/$")"7$#/0 7$,88 A%#2% "D=(/.7 )($%") $%(/ .#1#/#7%"7 ,7@ ()$ (/.
$%" -#B"? h" 1#0%$ "/. ,= A#$% (/ "23/314 (7 #/$"--"2$,(--4 (/.
()$#7$#2(--4 "/)#2%#/0 (7 $%($ 38 $%" ],7$)(-#(/ ]>3)#0#/"7?
h%($ #/$")"7$7 1" RR (/. #/$")"7$". `(,77 (/. V3-(/4# RR #7 $%"
"D$"/7#3/ 38 732#"$4 >"43/. #$7 -32(- >(7" >4 1"(/7 38 1()B"$7 (/.
13/"4? '3A .3 A" 0"$ .)(A/ #/$3 732#(- 8#"-.7 38 #/2)"(7#/0 723="
(/. #/$")."="/."/2"@ "7="2#(--4 $%3,0% "D2%(/0"7 #/93-9#/0!%
8/10/2019 Hart, Keith - Building the Human Economy. a Question of Value
15/23
13/"4@ (/. A#$% A%($ 23/7"6,"/2"7: < (==)3(2% $%" ."8#/#$#3/ 38
( 23113.#$4 #/ ( 7")#"7 38 7$(0"75 (7 ( ,7"8,- $%#/0 $%($ #7 1(."
(9(#-(>-" 83) 3$%")7 (/. $)(/78"))". #/ (/4 38 ( /,1>") 38 A(47? " =")73/7 2#)2,-($#/0 >"$A""/ 0)3,=7? < $%"/
03 3/ $3 .#9#7#3/ 38 -(>3,)@ $%($ #7@ #/2)"(7#/0 7="2#(-#Y($#3/ $%($ 2(/
%(9" 9()#3,7 73,)2"7 -#/B". $3 =")73/(- $)(/78")7 7,2% (7 0#8$7@
>()$") 3) )"/$7 =(#. $3 B/3A/ #/.#9#.,(-7? N%" /"D$ -"9"- #7
"D2%(/0" ($ /"03$#($". =)#2"7 3) 1()B"$7@ $%"/ 13/"4 (7 ( 1".#,1
38 "D2%(/0"? N%" #1=3)$(/$ $%#/0 (>3,$ 13/"4@ (7 #$ "D$"/.7 #$7
)"(2% >"43/. ="3=-" A%3 B/3A "(2% 3$%")@ #7 $%($ #$7 9(-," %(7 $3>" #1=")73/(-@ ($ -"(7$ ($ $%#7 7$(0" 38 ."9"-3=1"/$@ >"2(,7" #$
>)#/07 ="3=-" $30"$%") A%3 .3/P$ B/3A "(2% 3$%")@ 73 #$ 2(/P$ >"
>(7". 3/ =")73/(- 9(-,"7? N%"/ 13/"4 >"231"7 ( ,/#$ 38 (223,/$@
7$3)" 38 A"(-$% (/. 1"(/7 38 =(41"/$? S9"/$,(--4 #$ >"231"7
2(=#$(-? ]223).#/0 $3 `()D@ (8$") #$7 ,7" 83) =,)=37"7 38 ,7,)4 (/.
$)(."@ 2(=#$(- "1=-347 =)3.,2$#9" -(>3,) A%#2% $(B"7 ,7 13)" 3)
-"77 $3 A%")" _#2$3)#(/ 2(=#$(-#71 A(7?
h%($ A3,-. A" %(9" $3 (.. #/ 3).") $3 >)#/0 `()D ,= $3 .($":
X")9#2"7 23,-. 733/ 3,$A"#0% 033.7 #/ $%" A3)-. 1()B"$? N%" /"A
.31#/(/2" 38 2,-$,)(- 23113.#$#"7 =)39#."7 731" "9#."/2" 38 $%"
"23/314P7 3>K"2$ )"9")$#/0 $3 =)3.,2$#3/ 38 %,1(/ >"#/07 )($%")
$%(/ $%#/07? N%" 137$ #1=3)$(/$ 23113.#$#"7 ()" #."(7
E#/$"--"2$,(- =)3=")$4I )($%") $%(/ $%#/07C (/. 13/"4 #7 7""/ $3 >"
#/83)1($#3/ $3 (/ #/2)"(7#/0 ."0)""? [#/(--4@ $3 7="(B 38 $%" A3)-.1()B"$ $%($ -#"7 #/ ),#/7 ($ $%" 131"/$@ 23113.#$#"7 ()"
7"23/.()4 23/$)(2$7 A%#2% %(9" /3$%#/0 $3 .3 A#$% $%" $)(/78") 38
$%#/07 3) "9"/ 7")9#2"7 >"$A""/ ="3=-"@ >,$ ()" K,7$ >"$7 3/ $%"
8,$,)" 9(-," 38 $%"7" 7"23/.()4 23/$)(2$7 3) .")#9($#9"7 (7 $%"4 ()"
,7,(--4 B/3A/?
N%#7 #7 ( K,7$R73 7$3)4@ ( >3,)0"3#7 14$% (>3,$ $%" $"-"3-304 38
"D2%(/0" (/. 13/"4@ A%#2% `()D ,7"7 $3 23/7$),2$ %#7 ()0,1"/$!&
8/10/2019 Hart, Keith - Building the Human Economy. a Question of Value
16/23
#/ Q(=#$(-? < .3/P$ 2-(#1 1,2% 13)" 83) #$ $%(/ $%($? +,$ "9")4 7$(0"
#/ $%#7 6,(7#R%#7$3)#2(- (223,/$ 38 $%" =)30)"77 38 732#(- "D2%(/0" #7
7$#-- A#$% ,7? h" 7$#-- .3 ( -3$ 83) 3,)7"-9"7C A" 233B 83) 3,)
8(1#-#"7@ A" 1(B" 0#8$7@ A" ,7" 2(7% (/. 73 3/? h%($"9") 1#0%$ >"$%" -"(.#/0 ".0" 38 $%" (>7$)(2$#3/ 38 732#(- -(>3,) ($ (/4 0#9"/
$#1"@ #$ .3"7 /3$ )"=-(2" $%" 3$%")7@ >,$ =")%(=7 )"3)0(/#Y"7 $%"#)
)"-($#9" =)#3)#$4? 7$)(2$ 732#(- 83)17 $%($ ()" >"#/0 2)"($".? N3 0#9" (/ "D(1=-"@ 7#$" #/ +(/0(-3)"? N%" 0,4 A(/$7 $3 7%3A 1"
( /"A #."( 83) $%" ."7#0/? h" 0"$ 3/$3 XB4="@ %#1 A#$% %#7
231=,$")@ 1" A#$% 1#/"? '" =,$7 7$,88 #/ $%($ < 2(/ 7""
#11".#($"-4? < 1(B" 13.#8#2($#3/7 $%($ %" 2(/ 7"" #11".#($"-4?
4 $%" 8(2$ $%($ $%")" ()" $A3 231=,$")7@ /3$ K,7$ 3/"?
X3@ )($%") $%(/ 3/" 38 ,7 -33B#/0 39") $%" 7%3,-.") ($ A%($ $%"3$%") #7 .3#/0@ "(2% 38 ,7 #7 ,7#/0 $%" )"73,)2"7 38 3,) 3A/
231=,$") $3 ."9"-3= ( 23/9")7($#3/ (>3,$ A%($ $%#7 A">7#$" 7%3,-.
-33B -#B"? h" ()" .3#/0 $%#7 #/ )"(- $#1"@ < 2(/P$ 71"-- %#1@ >,$ #$ #7
0"$$#/0 =)"$$4 2-37"? N%" %3$ $)"/. $%"7" .(47 #7 83) L.#0#$(-
#/$#1(24M? h3)B #$ 3,$?
N%" .#0#$(- )"93-,$#3/ #/ 2311,/#2($#3/7@ A%#2% %(7 3/-4 K,7$
>"0,/@ %(7 7#0/#8#2(/2" #/ %,1(/ %#7$3)4 231=()(>-" $3 $%"!'
8/10/2019 Hart, Keith - Building the Human Economy. a Question of Value
17/23
#/9"/$#3/ 38 (0)#2,-$,)"@ "D2"=$ $%($ A" ()" $%" =)#1#$#9" .#00#/0
7$#2B 3=")($3)7 A%3 ()" 72)($2%#/0 ()3,/. #/ $%" "()$% A#$%3,$ (
2-," $%($ #$ (-- "/.7 ,= (7 Q%#/"7" 2#9#-#Y($#3/? +,$ A%($ A" .3 %(7
"/3)13,7 23/7"6,"/2"7 83) $%37" A%3 231" -($")? h" 23,-.72)"A "9")4$%#/0 ,= )#0%$ /3A? [,$,)" 0"/")($#3/7 ()" 03#/0 $3 >"
#/$")"7$". #/ ,7 >"2(,7" 38 $%" 23/7"6,"/2"7 38 A%($ A" .3 83)
A%($ $%"4 2(/ .3? h" 7%3,-. )"(-#7" $%($ A" ()" 7$,1>-#/0 #/$3 $%#7
131"/$ 38 %#7$3)4@ >)#/0#/0 A#$% ,7 ( A%3-" >(00(0" 38 (/2#"/$ (/.
23/8,7". ($$#$,."7@ A#$%3,$ (/4 2-"() /3$#3/ 38 A%")" #$ #7 03#/0 $3
03? X31"%3A A" %(9" $3 231" $3 $")17 A#$% $%($?
+)#.0"7 >"$A""/ 23113.#$#Y($#3/ (/. $%" %,1(/ "23/314
N%")" ()" ($ -"(7$ 83,) =3#/$7 A%")" $%" =)"2".#/0 .#723,)7" 23,-.
>" (==-#". $3 $%" %,1(/ "23/314 =)3K"2$?
N%" 8#)7$ (/. 137$ 3>9#3,7 =3#/$ #7 $%($ $%" "23/314 #7 /3$ K,7$
3/" $%#/0 3)@ (7 `()0()"$ N%($2%") ,7". $3 7(4@ LN%")" #7 /3
(-$")/($#9"M E(>>)"9#($". (7 N")(- 3)$%3.3D4P7
(>73-,$#717 #7 $%($ $%")" #7 3/-4 3/" A(4 $3 03 (/. (/43/" A%3.3"7/P$ .3 $%($ #7 23/."1/". $3 $%" .,7$>#/ 38 %#7$3)4? N%"
23113.#$#Y($#3/ .#723,)7" 7%3A7 $%($ "23/314 #7 (-A(47 1(/4
$%#/07? \/" 38 3,) (#17 #/ $%" %,1(/ "23/314 =)3K"2$ #7 $3
=)313$" $%" #."( 38 $%" =-,)(- "23/314 (/. A" )"-4 %"(9#-4 3/
`()2"- `(,77 (/. !()- V3-(/4# #/ $%($ )"7="2$? Q")$(#/-4 $%" >"7$
#/$")=)"$($#3/ 38 N%" T#8$#7 $%($ `(,77 A(7 $)4#/0 $3 7%3A $%($
$%")" ()" 7$#-- 1(/4 "23/31#2 83)17 -#9#/0 7#." >4 7#." #/ 3,)732#"$4 E'()$ ;JJGI? X3 A" .3/P$ /"". ( 7$(0"7 $%"3)4 38 %#7$3)4 3)
( )"93-,$#3/()4 -"(= #/$3 $%" .()B? \,) $(7B #7 $3 0#9" A%($"9")
83)17 A" "/23,/$") ( /"A .#)"2$#3/@ "1=%(7#7 (/. 231>#/($#3/?
N%" 7"23/. 23/2-,7#3/ )"8")7 $3 14 "()-#") =3#/$ $%($ A" 7%3,-.
,/.")7$(/. /"3-#>")(-#71 (7 ( 23,/$")R)"93-,$#3/ (0(#/7$ $%" 3/-4
$#1" #/ %#7$3)4 A%"/ $%" 3>K"2$ 38 "23/31#2 =3-#24 A(7 $3 #1=)39"
$%" -#9"7 38 137$ 2#$#Y"/7@ $%" 732#(- ."132)(24 2)"($". (8$") $%"!(
8/10/2019 Hart, Keith - Building the Human Economy. a Question of Value
18/23
X"23/. h3)-. h()? S9")4$%#/0 1(B"7 7"/7" #8 A" $%#/B 38
/"3-#>")(-#71 (7 ( 2-(77 )"93-,$#3/ (0(#/7$ $%($ E'()9"4 ;JJcI? \/"
-"77 7($#78(2$3)4 (7="2$ 38 `()DP7 9(-," $%"3)4 A(7 %#7 )"-"0($#3/ 38
6,(-#$4 #/$3 $%" >(2B0)3,/. #/ 3).") $3 =-(2" "1=%(7#7 3/6,(/$#$($#9" 732#(- (>7$)(2$#3/? < 2(/ >"7$ 1(B" 14 =3#/$ $%)3,0%
$%" "D(1=-" 38 %#0%") ".,2($#3/ #/ +)#$(#/ (/. 13)" )"2"/$-4
[)(/2"? 3$% =-(2"7@ >,$ /3$ 3/-4 $%")"@ $%")" %(7 >""/ (
=7",.3R1()B"$#Y($#3/ 38 "9(-,($#3/ 38 =")83)1(/2"@ ( 7%#8$ $3A().7
6,(/$#$4 (0(#/7$ A%($ A(7 7$#--@ A%"/ < "/$")". $%" =)38"77#3/@ A%($
`(D h">") A3,-. %(9" 2(--". ( L7$($,7 %3/3,)M $%($ A" %(. 38
7,==-4#/0 ( =,>-#2 7")9#2" >(7". 3/ 6,(-#$($#9" 9(-,"7 $%($ -"/$$%"17"-9"7 $3 3,) /3$#3/ 38 3,) 3A/ #/$"0)#$4 (7 ( 2-(77 (/. "9"/
3,) %,1(/ #/$"0)#$4 13)" 0"/")(--4?
< B/3A $%($ 3/" 38 $%" 8,/2$#3/7 38 $%#7 1()B"$ >,)"(,2)(24 #7
7#1=-4 $3 =)3-"$()#(/#Y" (2(."1#27 e $3 0"$ ,7 3/ $%" >(2B 833$@
#/$#1#.($". (/. 7,>3).#/($" $3 ( 13)" 2"/$)(-#Y". (.1#/#7$)($#3/?
+,$ #$ #7 (-73 13)" .""=-4 ( )"K"2$#3/ 38 $%" 6,(-#$#"7 38 732#(-
."132)(24 A%#2% (2$,(--4 "/0#/"")". $%" 8,-- "D=(/7#3/ 38 $%",/#9")7#$#"7 ,= $3 $%" *FGJ7? N%37" 6,(-#$#"7 "D=)"77". A%($ =,>-#2
7")9#2" A(7 7,==37". $3 >" 83)? a3$7 38 (2(."1#27 .3/P$
,/.")7$(/. A%4 $%" 9(-," 38 A%($ $%"4 =)3.,2" #7 73 )"(.#-4
39"))#.."/ >4 $%"7" (>7,). 2(-2,-($#3/7? +,$ 1(4>" $%" =3#/$ 38 #$
(-- #7 $3 ."7$)34 $%" 13.")/ =)3K"2$ 38 ".,2($#3/@ $3 ,/.")1#/" $%"
6,(-#$#"7 38 =,>-#2 7")9#2" $%($ #$ )"=)"7"/$7? < 2(/P$ #1(0#/" (/4
3$%") )"(73/ A%4 V)"7#."/$ X()B3Y4 7%3,-. 7(4@ A%"/ 9#7#$#/0 (72%33-@ LN%" 3/-4 =")73/ < A(/$ $3 $(-B $3 %")" #7 $%" K(/#$3)M? N%"
#77," 38 6,(-#$4 (/. 6,(/$#$4 /"".7 $3 >" 3="/". ,= (0(#/ (/. $%($
#7 ( 9")4 3>9#3,7 2(7" A%")" 6,(/$#8#2($#3/ %(7 >""/ ,7". $3
,/.")1#/" $%" 7$($,7 %3/3,) 38 ( 0)3,= 38 ="3=-" A%3 1#0%$ %(9"
%(. 731"$%#/0 $3 388") 732#"$4@ >,$ /3 -3/0") 2(/?
`4 $%#). =3#/$ #7 (>3,$ $%" .#0#$(- )"93-,$#3/ (7 ( 7$(0" #/ $%"
1(2%#/" )"93-,$#3/? `()D A(7 $%" 8#)7$ "23/31#7$ $3 )"230/#Y" $%($!)
8/10/2019 Hart, Keith - Building the Human Economy. a Question of Value
19/23
1(2%#/"7 A")" (/ #1=3)$(/$ =()$ 38 $%" 13.")/ "23/314? O,7$ (7
1(2%#/" =)3.,2$#3/ 38 $"D$#-"7 0"/")($". ( )(.#2(- 2%"(="/#/0 38
732#(--4 /"2"77()4 -(>3,) $#1"@ 73 $33 $%" S.#73/ =%(7" 38 $%" -($"
/#/"$""/$% 2"/$,)4 e "-"2$)#2#$4@ "-"2$)#2(- 1(2%#/"7@ "-"2$)#2 0)#.7 e-". $3 ( )(.#2(- 2%"(="/#/0 38 ( A#." )(/0" 38 033.7? N%" 131"/$
A" ()" -#9#/0 $%)3,0% 7%3,-. >" ,/.")7$33. (7 ( )(.#2(- 2%"(="/#/0
38 $%" 237$ 38 #/83)1($#3/ $)(/78")7? (7". 3/ %3-.#/0 $%" "D2-,7#9" )#0%$ $3 .#7$)#>,$" 23=#"7 38 $%#7
7$,88? ]/. 38 23,)7" $%" 23=#"7 1(4 >" )"=)3.,2". A#$%3,$ 237$ >4
(/43/"?
X3 A" ()" #/ ( %,0" 0-3>(- A() 39") =#)(24 EO3%/7 ;JJFI? "2(,7" 2(=#$(- #7 >"231#/0 #/2)"(7#/0-4 ."="/."/$ 3/ $%#7
73,)2" 38 )"9"/,"? N%" 6,"7$#3/ 38 )"/$ 97? =)38#$ #7 2),2#(-? N%")"
A(7 ( 131"/$ #/ %#7$3)4 A%"/ $%" >"7$ A(4 $3 1(B" )"(- 13/"4
A(7 $3 7"-- 731"$%#/0 43, 1(." $%($ 237$ -"77 $%(/ 43,)
231="$#$3)7P =)3.,2$7@ A%"$%") #$ A(7 2-3$%"7@ 2()7 3) A%($"9")?
N%)3,0%3,$ %#7$3)4@ A"(-$% A(7 137$ )"-#(>-4 (26,#)". $%)3,0%
1"2%(/#717 38 .#7$)#>,$#3/@ A%#2% 1"(/7 ,7#/0 =3-#$#2(- =3A") $30(#/ )"/$7 3) 7#1=-4 $3 7$"(- 8)31 ="3=-"? 4 =)3.,2#/0 /#2" =3$7 2%"(=") $%(/ (/43/" "-7" #/ $%"
A3)-.? Z3A A" %(9" )"9")$". $3 ( 83)1 38 2(=#$(-#71 A%")" $%"
2%#"8 73,)2" 38 )"9"/," #7 $3 ,7" =3-#$#2(- 83)2" $3 7"2,)" 13/3=3-4
!*
8/10/2019 Hart, Keith - Building the Human Economy. a Question of Value
20/23
)"9"/,"7 8)31 )"/$7 3/ $%#/07 -#B" QW7 (/. W_W7? ]7 A" B/3A@
#/83)1($#3/ A(/$7 $3 >" 8)""C 73 $%")" #7 ( 1(77#9" 9(-," )"93-,$#3/
03#/0 3/ (7 ( )"7,-$ 38 $%" ."9"-3=1"/$ 38 $%" .#0#$(- 1".#(? \/"
38 $%" )"(73/7 A%4 $%" 832,7 38 $%" /"D$ 7$(0" 38 $%" .#0#$(-)"93-,$#3/ A#-- >" 13>#-" =%3/"7 #7 $%($ $%"4 %(9" ( >,#-$R#/ 1"(/7
38 =(41"/$ (/. $%" #/$")/"$ .3"7/P$? ,#-.#/0 (%,1(/ "23/314 3,$ 38 (-- $%($?
[#/(--4@ 38 23,)7"@ $%")" #7 $%" #77," 38 0-3>(-#Y($#3/ (/. $%" 2)#$#6,"
38 #$7 2,))"/$ 83)17@ /3A B/3A/ (7 L(-$")R0-3>(-#Y($#3/M EV-"4")7
;J*JI? N%#7 $(B"7 ,7 >(2B $3 $%" h3)-. X32#(- [3),1 (/. $%" #."(
38 7""B#/0 $3 0-3>(-#Y" >4 .#88")"/$ 1"(/7 $%(/ $%37" 38
/"3-#>")(-#71? ] 0)"($ ."(- %(7 (-)"(.4 >""/ (2%#"9".? W(9#.
T)(">")@ #/ (/3$%") 38 %#7 %($7 (7 ( .#)"2$ (2$#3/ "$%/30)(=%")ET)(">") ;JJFI@ 2-(#17 $%($ $%" (-$")R0-3>(-#Y($#3/ 139"1"/$
23/8)3/$". (/. ."8"($". $%" #/#/0 -32(- (/. /($#3/(- 3)0(/#Y($#3/7@ )"0#3/(- 7$),2$,)"7 -#B"
$%" SU (/. 0-3>(- /"$A3)B7 #8 A" (7=#)" $3 ( %,1(/ "23/314?
Q3/2-,7#3/
X3 A%($ 2(/ A" 7(4 (>3,$ $%" 9(-," 38 ( $%"3)4 38 9(-,": _(-,"
$%"3)4 -"/.7 $%" (=="()(/2" 38 ,/#$4 $3 .#7=()($" #/6,#)#"7C (/. #$
(..7 7#0/#8#2(/2" ($ $%" "D="/7" 38 7="2#8#2#$4? N%")" ()" 1(/4
9(-," $%"3)#"7@ 73 43, %(9" $3 =#2B (/. 2%337"? N%"#) 9(-," #7
)"-($#9" $3 43,) 6,"7$#3/? X3@ )($%") $%(/ 3==37" `()D $3 `()7%(--
3) $3 (/43/" "-7" A%3 43, $%#/B %(7 ( )#9(- 9(-," $%"3)4@ =")%(=7
#+
8/10/2019 Hart, Keith - Building the Human Economy. a Question of Value
21/23
8/10/2019 Hart, Keith - Building the Human Economy. a Question of Value
22/23
'(//@ Q? (/. '()$@ !? E".7?I `()B"$ (/. X32#"$45 N%" T)"($
N)(/783)1($#3/ N3.(4? Q(1>)#.0" U/#9")7#$4 V)"77@ Q(1>)#.0"?
'(//@ Q? (/. '()$@ !? ;J**? S23/31#2 ]/$%)3=3-3045 '#7$3)4@
S$%/30)(=%4@ Q)#$#6,"? V3-#$4@ Q(1>)#.0"?
'()$@ !? *FGH? (/
"1=-341"/$ #/ T%(/(?
O3,)/(- 38 `3.")/ ]8)#2(/ X$,.#"7** E*I5 f*RjF?
'()$@ !? *Fj;? \/ 23113.#$#Y($#3/? )#.0"@ *ffR*jc?
'()$@ !? *FjG? Q3113.#$#7($#3/ (/. $%" 7$(/.(). 38 -#9#/0? )#.0"@ GJRFH?
'()$@ !? ;JJJ? N%" `"13)4 +(/B5 `3/"4 #/ (/ U/"6,(- h3)-.?
V)38#-"@ a3/.3/C )"=,>-#7%". #/ ;JJ* (7 `3/"4 #/ (/ U/"6,(-
h3)-.? N"D")"@ Z"A b3)B?
'()$@ !? ;JJc? N%" '#$ `(/P7 W#-"11(5 \) +,7#/"77@ V")73/(-
(/. )#.0" U/#9")7#$4 V)"77@ Q(1>)#.0"?
O(B3>73/@ i? *Ffj m*Fd*n? Q%#-. a(/0,(0"@ ]=%(7#( (/.
V%3/3-30#2(- U/#9")7(-7? W" T),4$")@ Q%#2(03?##
8/10/2019 Hart, Keith - Building the Human Economy. a Question of Value
23/23
O3%/7@ ]? ;JJF? V#)(245 N%" ")0 $3 T($"7? U/#9")7#$4 38 Q%#2(03 V)"77@ Q%#2(03?
!"4/"7@ O? `? *FfH m*FHJn? S23/31#2 =377#>#-#$#"7 83) 3,)
0)(/.2%#-.)"/? (-#Y($#3/5 +"231#/0 (/ ]2$3) #/ $%"
T-3>(- ]0"? V3-#$4@ Q(1>)#.0"?
V3-(/4#@ !? ;JJ* m*Fddn? N%" T)"($ N)(/783)1($#3/5 N%" V3-#$#2(-(/. S23/31#2 \)#0#/7 38 \,) N#1"7?+"(23/@ +37$3/?
X"/@ ]? *FFF? W"132)(24 (7 ( ,/#9")7(- 9(-,"@O3,)/(- 38
W"132)(24*J?H HR*G?
X#11"-@ T? *FGj m*FJJn? N%" V%#-373=%4 38 `3/"4? i3,$-".0"@
a3/.3/?
#$
http://www.lulu.com/spotlight/desmonddotmcneillatsumdotuiodotnohttp://www.lulu.com/spotlight/desmonddotmcneillatsumdotuiodotnohttp://www.lulu.com/spotlight/desmonddotmcneillatsumdotuiodotnohttp://www.lulu.com/spotlight/desmonddotmcneillatsumdotuiodotnohttp://www.lulu.com/spotlight/desmonddotmcneillatsumdotuiodotno