You have to get open standards in place, he says, then add value on top of those open standards in an open architecture.
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But each of the stocks meets the standards of value that we have applied successfully for 27 years.
With school performance measures, common core standards and value-added learning now being accepted into the community mainstream, perhaps new consumer choices for pupils, parents and taxpayers will expand.
He said the retailer did not have a different set of standards for its value burgers - found to have been contaminated with horsemeat - than any of its other lines.
"We commend these banks for strengthening the link between compensation and business integrity, which is central to creating long-term value, and for setting new standards of disclosure, " he said.
Economics 101 tells us that this is exactly the type of industry in which the banks could gain economies of scale and create tremendous value by consolidation around open industry standards and a common technology platform.
But it will most likely grow, because of the values in its statement: team work, training, hard work, quality control, the importance of client value, candor, selflessness, raising standards and helping others.
It adds that its decisions are based on ensuring high standards for customers as well as value for money.
Last year, food prices also increased exceptionally rapidly by recent standards, and the foreign exchange value of the dollar weakened.
Shadow education secretary Stephen Twigg called for greater scrutiny, oversight and local accountability "to ensure school standards improve and the taxpayer gets value for money".
Just as the workers at Exxon would be poor not rich by global standards i9f they had a low value add: for they would have the low wages to go along with the low productivity.
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Not surprisingly, Mrs Hitchcock is a firm believer in the value of Ofsted in setting high expectations and raising standards.
As this happens, consumers will be less ready to borrow against the value of their homes in order to maintain their living standards.
The broader value comes from combing work on a common infrastructure, data standards and integration of the data.
Plenty of those flats were bought with credit but loan-to-value ratios were, many bankers claim, conservative, while standards are nothing like as loose as in America.
The introduction of stricter accounting standards this year means that banks will have to value equities at market, rather than historic, prices when they close their books next March.
The need to measure student achievement against standards has led to the development of highly sophisticated new "value-added" testing techniques.
This means that it can negotiate on more favorable terms with a more powerful competitor, contribute something of value to a joint-development project, increase its role in a standards group, raise capital more easily, etc.
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Related to the entire discussion is the effect of the issuance of Financial Accounting Standards Board (FASB) Statement No. 157 "Fair Value Measurements, " which became effective for entities with fiscal years beginning after November 15, 2007.
Living standards are sinking, squeezed by Washington's expansion and the falling value of the dollar.
For there are four times more of them than there are of Americans, so the same value added (this is what GDP measures, the value added in an economy) must be divided by four to give average living standards.
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The new standards apply to homeowners and businesses who are spending 50 percent or more of the market value of their property on rebuilding and who are using Sandy disaster aid.
In value-for-money terms, Britain's fire service does not perform particularly well by international standards.
Higher prices also lift the value of banks' own property holdings and hence their capital, which encourages them to relax their lending standards.
In the past taxpayers generally had to pay the IRS the total value of all their assets plus 60 times their net monthly income after using the IRS strict allowable expense standards.
That means adhering to NHS standards, allowing NHS and independent providers to compete on a more level playing field, delivering value for money and above all providing care for NHS patients that is free at the point of use, based on need, not the ability to pay.
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The substantial drop in delinquency rate and loan-to-value ratio for borrowers who purchased homes in the years after 2007 is likely a product of the tightened lending standards implemented in the post-bubble housing market.
And mark-to-market accounting meant that banks were valuing illiquid assets at prices which reflected a lack of buyers as much as underlying credit quality (accounting-standards bodies have since been bullied into allowing bankers to exercise more judgment in how they classify and value such assets).
Meanwhile, there is a trend in accounting standards away from valuing assets at historic cost (ie, what they cost to buy) towards fair value (ie, what they would fetch if sold).
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