Supplement to Week Four: Energy and Labour Theories of Value

In “Embodied Energy and Economic Valuation,” Robert Costanza introduced the concept of an “energy theory of value”. There has been a good deal of subsequent discussion about the relationship between an energy theory of value with established “labour theory of value”, which is of course very relevant to labour and the environment.

Baumol, William J. (1974) “The Transformation of Values: What Marx ‘Really’ Meant (An Interpretation),” Journal of Economic Literature, 12 (1, March): 51-62.

Burkett, Paul (2003) “The Value Problem in Ecological Economics Lessons from the Physiocrats and Marx,” Organization & Environment, pp. 137–167.

Huber, Matthew T. (2008) “Energizing historical materialism: Fossil fuels, space and the capitalist mode of Production,” Geoforum, 40, 105–115.

Judson. D.H. (1989) “The Convergence of Neo-Ricardian and Embodied Energy Theories of Value and Price,” Ecological Economics, 1: pp. 261–282.