HISTORIC INFLUENCES ON DEVELOPMENT OF THE THEORY OF VALUE

This article traces the concept of market value from the building of the pyramids to the current era, examining the interrelationship among politics, philosophy, and historical events in forming men's concepts of value. The author describes the unusual combination of events and personalities that gave rise to the modern science of economics, and examines the contributions of such diverse personalities as Adam Smith, Karl Marx, and the patriarch Abraham to the contemporary appraiser's understanding of the forces creating, destroying, modifying, and maintaining value. He concludes with the statement that, "today, professional valuations have the responsibility to continue to search out facts, observe trends, interpret human interactions, and record their judgments with integrity."

• Corporate Authors:

  American Institute of Real Estate Appraisers

  155 East Superior Street
  Chicago, IL  United States  60611
• Authors:
  • Featherston, J B
• Publication Date: 1975-4

Media Info

• Pagination: p. 165-182
• Serial:
  • APPRAISAL JOURNAL
  • Volume: 43
  • Issue Number: 2

Subject/Index Terms

• TRT Terms: Appraisals; Economics; History; Market value; Politics
• Old TRIS Terms: Land appraisal
• Subject Areas: Economics; Finance; Highways; History; Law;

Filing Info

• Accession Number: 00097191
• Record Type: Publication
• Files: TRIS
• Created Date: Jul 15 1975 12:00AM