Humanity’s Standard of Value
Let us consider Humanity’s view of production, exchange, and consumption.
By definition, we will let “Humanity’s” view mean the aggregation of the views of all the individual members of the species Homo sapiens.
This will let us examine the larger issues of ecological inter-dependencies that standard economics is reputedly unable to treat.
For the time being, we will leave the concept of a “Health & Welfare Unit” vaguely defined, so that we can examine the consequences of this approach.
