This valuable volume The Worth of Goods: Valuation and Pricing in the Economy, edited by Jens Beckert and Patrik Aspers revisits established theories of value and takes a sociological approach to the perennial but timely question of what makes a product valuable. Leading social scientists and economic sociologists contrubuted to this pioneering volume interesting empirical studies as well as novel theoretical discussions.
It first examines value in the broader sense–moral values and how they are formed, and the relations between economic and non-economic values– discussing the value of an oil spill, the price of a scientific paper, value in ethical consumption, etc. The second part discusses the issues surrounding valuation in aesthetic markets, specifically wine, fashion models, art, and the creative industries. The third part analyzes valuation in financial markets–credit rating agencies, stock exchange markets, and industrial production.

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