Economics Department


Date of this Version

June 1988


Published by Journal of Economic Issues Vol. XXII, No. 2, June 1988. Copyright © 1988 Journal of Economic Issues. Used by permission.


Yngve Ramstad has recently inquired about how to define the components of the social fabric matrix and digraph system [Ramstad 1986; Hayden 1982a, 1982b]. To answer that question with regard to three of the matrix's components is the purpose of this article. The article will present, expand, and refine the author's introductory work on values, beliefs, and attitudes for the social fabric matrix [Hayden 1977, 19851. There are numerous meanings the word "values" evokes among institutionalist readers; for examples: social value, instrumental valuing, technological values, and valuation. Those concepts are concerned with "what ought to be," while the definition of values set out below is intended to describe "what is."

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