Chaning climate, changing value

Some researchers suggested that WTP reflects not only utility but also one's attitude. When paying for free trade coffee, which we know that it is no difference from those sold in supermarket, part of the WTP stems from our concerns to social injustice. It is an expression of our attitude towards the society. Likewise, boycotts against chained supermarket can be viewed as a kind of unwillingness to pay. It reflects our views about the role of state or the entreprise and probably a particular set of political beliefs (env problems as a result of free trade - liberalist ideology).

So, what is value? what is price? Obviously I pay for charitable flags not for utility reasons. Some defended that acqusition of moral satisfaction is also a kind of utility gains. Well...this is debetable. Can you use demand curve to predict moral satisfaction? Afriad not, evidence shows that it is scope-insensitive: price (in the form of stated WTP) sometimes remains unchanged, or change very little, as double amount of env goods are offered (so called 'embedding effect'). In fact, there are more evidence, like the refusal to make tradeoff (boycotts).

Some defended that those holding strong moral positions are minority. First, there are several categories of moral positions, some very strong (e.g. inviolable animal rights), some weak (change if livelihood is damaged). However, while the extreme one is minority, so does the strong utilitarian position (i.e. human first in any case). Most ppl are in the middle range - some moral, some utilitarian.

Economics grew in the age when ppl only concerned economic well-beings and therefore neoclassical theories worked well. In the past, human mainly looked at their own well-beings (who care black slaves?). Neoclassical theory was a perfect justification to the decision makers who strived to restore and expand their economies. But now, we add social and env justice in our agenda,we want to care about the socially deprived individuals and the future generations. In other words, we refuse to exclusively look at economic goals (except G.W. Bush and his followers). So the old schools simply fail to explain and inform the society which has changed a lot.
Modifying Clive's words: Climate is changing, preference is changing. Definition of value is also changing.