ABSTRACT
Value arises from the possibility of exchange. The value-construct is a determinist system, its aim and essence are the reduction of action to mere response. Value is the instrument, not only of the determinism of value theory but of the scalar mechanics of macro-economic aggregative theory. Aggregation requires the items which are to be added together to have some common measure. 'Value' provides that measure. It is assumed that market values, being public values which, though determined by individual actions en masse, re-act upon those actions, are homogeneous and render addable, despite their diversity, the objects to which the market assigns value. But such public values are merely the surface of things. They are often the meeting-points of opposites in expectation, interpretation, intention and potential response to any shift of visible circumstance. Like a shadow, it abstracts from the reality the mere outline of a complex and involved structure, a structure, in this case, of thoughts, knowledge, tastes and feelings.
