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Parnassus bases share-price targets on such valuation metrics as price-to-earnings, price-to-sales and price-to-book-value ratios.
It is due also to the way we collectively treat education: when our society prizes education as a private acquisition rather than a public good, its role in our culture is altered, and student behaviours will reflect such valuation.
For a quite a while now, analysts who take seriously such valuation ratios as the price-to-earnings ratio and Tobin's "q" ratio (which measures the price of investment assets relative to their replacement cost) have been warning about a crack in the market.
But putting a cash value on what are called variously "environmental", "ecosystem" or "ecological" services has, historically, been a fraught process.Early attempts at such valuation resulted in impressive but unsound figures that were seized on by environmental advocates and then, when they were discredited, used by opponents to tar the whole idea.
Such valuation scandals are not new; it's just that they are so quickly forgotten.
Raz, Dickson, and others accept that some such valuation is necessary, but deny that it is moral: Dickson 2001.
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He has shown that such valuation-based proxies may not be perfect.
Such valuations are linear combinations of the volume, surface area, and surface integral of mean curvature.
But investors do not know what the future range of such valuations will be.
And there is evidence that such valuations can indeed spur remedial action costing very much less.
Such valuations, indeed, may reflect a misunderstanding of the social graph.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com