Under capitalism, it can be hard to disentangle an idea of 'value' from that which the market sets as 'valuable' - that is to say, expensive items. Is the price mechanism in any way a useful or accurate way of representing value, or are we unable to measure what we really value through it?
Join our panel of four diverse social scientists to make sense of this question: Abby Innes is Associate Professor of Political Economy at the LSE; Daniel Susskind is a Research Professor in Economics at King's College; Will Hutton is a political economist and journalist; and Richard Kibble is a Partner at Deloitte. The question of whether we should keep or scrap our current economic model obviously enters the picture.
And please email us at podcast@iai.tv with your thoughts or questions on the episode! Do you believe the GDP and the price mechanism are good ways of approximating value?
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