BOOK REVIEW: Beyond price: Value in culture, economics, and the arts

How is it that we can understand value in markets and society? As opposed to letting economists answer this question, there is now a growing interest in the social sciences on questions of value and valuation outside of economics, breaking down what David Stark has called ‘Parsons’ Pact,’ that economists study value, and sociologists—as an example here—study values. Michael Hutter and David Throsby’s Beyond Price: Value in Culture, Economics and the Arts provides an excellent challenge to this narrowing divide, contributing to an area of work that we might call valuation studies or the sociology of valuation