Jump to ContentJump to Main Navigation
The Empire of Value – A New Foundation for Economics - MIT Press Scholarship Online
Users without a subscription are not able to see the full content.

The Empire of Value: A New Foundation for Economics

André Orléan


With the advent of the 2007-2008 financial crisis, the economics profession itself entered into a crisis of legitimacy from which it has yet to emerge. Despite the obviousness of its failures, however, economists continue to rely on the same methods and to proceed from the same underlying assumptions. André Orléan challenges the neoclassical paradigm in this book, with a new way of thinking about its most fundamental concept, economic value. Orléan argues that value is not bound up with labor, or utility, or any other property that preexists market exchange. Economic value, he contends, is a s ... More

Keywords: economic value, economics profession, financial markets, money, neoclassical paradigm, social institutions, 2007-2008 crisis

Bibliographic Information

Print publication date: 2014 Print ISBN-13: 9780262026970
Published to MIT Press Scholarship Online: January 2015 DOI:10.7551/mitpress/9780262026970.001.0001


Affiliations are at time of print publication.

André Orléan, author
Paris-Jourdan Sciences Economiques

Show Summary Details

subscribe or login to access all content.



Part I Critique of Political Economy

Part II The Institution of Value

Part III Market Finance

Part IV Self-referential Finance and the Subprime Crisis

End Matter