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Tom Whipple and the formal object of the discipline

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journal contribution
posted on 06.12.2017, 00:00 by Garrick Small
Tom Whipple’s focus on the formal object of valuation is reviewed in terms of its significance for the discipline of property economics. His recognition of the distinction between value and price and the social objectives of economics as a discipline lead to recognition that rental growth as the object of valuation runs counter to community quality of life growth that is the object of classical realist economics. Tom Whipple’s connections to both of these traditions is shown to lead to the conclusion that his work contained sufficient elements to suggest that the formal object of property economics deserves separate attention and is likely to be related to the common good. Such a focus could make it possible to construct a property economics that could be capable of meeting the community’s needs regarding property, provide a framework for a more effective integration with customary property systems and insights for the general discipline of economics.

Funding

Category 1 - Australian Competitive Grants (this includes ARC, NHMRC)

History

Volume

16

Issue

4

Start Page

423

End Page

434

Number of Pages

12

Location

Australia

Publisher

Pacific Rim Real Estate Society

Language

en-aus

Peer Reviewed

Yes

Open Access

No

External Author Affiliations

Estate Master; Not affiliated to a Research Institute;

Era Eligible

Yes

Journal

Pacific Rim property research journal.

Exports

CQUniversity

Exports