Authors: Sabine Spangenberg
Addresses: Richmond University, The American International University, London Queens Road, Richmond, Surrey TW10 6JP, UK
Abstract: Economic value should not be restricted to commodity, factor and asset prices; economic value should include intrinsic concepts of well-being and welfare. Concepts of well-being have greatly varied over time and space which has also affected the understanding of economic development. Concepts of well-being have been influenced by notions of value and wealth so that it can be suggested that the term economic development is qualitatively determined by conceptions of value and wealth. This paper exhibits forms of value and wealth during the period of early civilisation. A juxtaposition of ideas and concepts of well-being during this early time period facilitates a more critical approach to economic development today.
Keywords: economic value; Athenian thought; economic development; well-being; early civilisation; welfare; wealth; Athens.
International Journal of Happiness and Development, 2016 Vol.3 No.2, pp.125 - 139
Received: 03 Oct 2015
Accepted: 20 Jun 2016
Published online: 29 Sep 2016 *