Value Theory
Value Theory
Value is the worth of something, usually understood as covering both positive and
negative degrees corresponding to the terms good and bad. Values influence many
human endeavors related to emotion, decision-making, and action. Value theorists
distinguish various types of values, like the contrast between intrinsic and
instrumental value. An entity has intrinsic value if it is good in itself,
independent of external factors. An entity has instrumental value if it is useful
as a means leading to other good things. Other classifications focus on the type of
benefit, including economic, moral, political, aesthetic, and religious values.
Further categorizations distinguish absolute values from values that are relative
to something else.
Diverse schools of thought debate the nature and origins of values. Value realists
state that values exist as objective features of reality. Anti-realists reject
this, with some seeing values as subjective human creations and others viewing
value statements as meaningless. Regarding the sources of value, hedonists argue
that only pleasure has intrinsic value, whereas desire theorists discuss desires as
the ultimate source of value. Perfectionism, another approach, emphasizes the
cultivation of characteristic human abilities. Value pluralism identifies diverse
sources of intrinsic value, raising the issue of whether values belonging to
different types are comparable. Value theorists employ various methods of inquiry,
ranging from reliance on intuitions and thought experiments to the analysis of
language, description of first-person experience, observation of behavior, and
surveys.
Value theory, also known as axiology and theory of values, is the systematic study
of values. As a branch of philosophy, it examines which things are good and what it
means for something to be good. It distinguishes different types of values and
explores how they can be measured and compared. This field also studies whether
values are a fundamental aspect of reality and how they influence phenomena such as
emotion, desire, decision, and action.[2] Value theory is relevant to many human
endeavors because values are guiding principles that underlie the political,
economic, scientific, and personal spheres.[3] It analyzes and evaluates phenomena
such as well-being, utility, beauty, human life, knowledge, wisdom, freedom, love,
and justice.[4]
The precise definition of value theory is debated and some theorists rely on
alternative characterizations. In a broad sense, value theory is a catch-all label
that encompasses all philosophical disciplines studying evaluative and normative
topics. According to this view, value theory is one of the main branches of
philosophy and includes ethics, aesthetics, social philosophy, political
philosophy, and philosophy of religion.[5] A similar broad characterization sees
value theory as a multidisciplinary area of inquiry that integrates research from
fields like sociology, anthropology, psychology, and economics alongside
philosophy.[6] In a narrow sense, value theory is a subdiscipline of ethics that is
particularly relevant to the school of consequentialism since it determines how to
assess the value of consequences.[7]
The word axiology has its origin in the ancient Greek terms ἄξιος (axios, meaning
'worthy' or 'of value') and λόγος (logos, meaning 'study' or 'theory of').[8] Even
though the roots of value theory reach back to the ancient period, this area of
thought was only conceived as a distinct discipline in the late 19th and early 20th
centuries, when the term axiology was coined.[9] The terms value theory and
axiology are usually used as synonyms, but some philosophers distinguish between
them. According to one characterization, axiology is a subfield of value theory
that limits itself to theories about which things are valuable and how valuable
they are.[10][a] The term timology is an older and less common synonym.[12]
Value
Main article: Value (ethics)
Values are expressed through evaluative terms. For example, the words good, best,
great, and excellent convey positive values, whereas words like bad and terrible
indicate negative values.[15] Value theorists distinguish between thin and thick
evaluative terms. Thin evaluative terms, like good and bad, express pure
evaluations without any additional descriptive content.[c] They contrast with thick
evaluative terms, like courageous and cruel, which provide more information by
expressing other qualities, such as character traits, in addition to the
evaluation.[18] Values are often understood as degrees that cover positive and
negative magnitudes corresponding to good and bad. The term value is sometimes
restricted to positive degrees to contrast with the term disvalue for negative
degrees. The words better and worse are used to compare degrees, but it is
controversial whether a quantitative comparison is always possible.[19] Evaluation
is the assessment or measurement of value, often employed to compare the benefits
of different options to find the most advantageous choice.[20]
A thing has intrinsic or final value if it is good in itself or good for its own
sake, independent of external factors or outcomes. A thing has extrinsic or
instrumental value if it is useful or leads to other good things, serving as a
means to bring about a desirable end. For example, tools like microwaves or money
have instrumental value due to the useful functions they perform.[24] In some
cases, the thing produced this way has itself instrumental value, like when using
money to buy a microwave. This can result in a chain of instrumentally valuable
things in which each link gets its value by causing the following link.
Intrinsically valuable things stand at the endpoint of these chains and ground the
value of all the preceding links.[25]
Intrinsic and instrumental value are not exclusive categories. As a result, a thing
can have both intrinsic and instrumental value if it is both good in itself while
also leading to other good things.[29] In a similar sense, a thing can have
different instrumental values at the same time, both positive and negative ones.
This is the case if some of its consequences are good while others are bad. The
total instrumental value of a thing is the value balance of all its consequences.
[30]
Traditionally, value theorists have used the terms intrinsic value and final value
interchangeably, just like the terms extrinsic value and instrumental value. This
practice has been questioned in the 20th century based on the idea that they are
similar but not identical concepts. According to this view, a thing has intrinsic
value if the source of its value is an intrinsic property, meaning that the value
does not depend on how the thing is related to other objects. Extrinsic value, by
contrast, depends on external relations. This view sees instrumental value as one
type of extrinsic value based on external causal relations. At the same time, it
allows that there are other types of non-instrumental extrinsic value that result
from external non-causal relations. Final value is understood as what is valued for
its own sake, independent of whether intrinsic or extrinsic properties are
responsible.[32][e]
Absolute and relative
Another distinction relies on the contrast between absolute and relative value.
Absolute value, also called value simpliciter, is a form of unconditional value. A
thing has relative value if its value is relative to other things or limited to
certain considerations or viewpoints.[34]
Traditionally, most value theorists see absolute value as the main topic of value
theory and focus their attention on this type. Nonetheless, some philosophers, like
Peter Geach and Philippa Foot, have argued that the concept of absolute value by
itself is meaningless and should be understood as one form of relative value.[42]
Other distinctions
Value realism is the view that values have mind-independent existence.[49][i] This
means that objective facts determine what has value, irrespective of subjective
beliefs and preferences.[50] According to this view, the evaluative statement "That
act is bad" is as objectively true or false as the empirical statement "That act
causes distress".[51]
Another disagreement among realists is about whether the entity carrying the value
is a concrete individual or a state of affairs.[54] For instance, the name "Bill"
refers to an individual while the sentence "Bill is pleased" refers to a state of
affairs, which combines the individual "Bill" with the property "pleased". Some
value theorists hold that the value is a property directly of Bill while others
contend that it is a property of the state of affairs that Bill is pleased.[55]
This distinction affects various disputes in value theory. In some cases, a value
is intrinsic according to one view and extrinsic according to the other.[56]
Value realism contrasts with anti-realism, which comes in various forms. In its
strongest version, anti-realism rejects the existence of values in any form,
claiming that value statements are meaningless.[57][j] There are various
intermediate views between this position and realism. Some anti-realists accept
that value claims have meaning but deny that they have a truth value,[k] a position
known as non-cognitivism. For example, emotivists say that value claims express
emotional attitudes, similar to how exclamations like "Yay!" or "Boo!" express
emotions rather than stating facts.[60][l]
Cognitivists contend that value statements have a truth value, meaning that
sentences like "knowledge is intrinsically good" are either true or false.
Following this view, error theorists defend anti-realism by stating that all value
statements are false because there are no values.[62] Another view accepts the
existence of values but denies that they are mind-independent. According to this
view, the mental states of individuals determine whether an object has value, for
instance, because individuals desire it.[63] A similar view is defended by
existentialists like Jean-Paul Sartre, who argued that values are human creations
that endow the world with meaning.[64] Subjectivist theories say that values are
relative to each subject, whereas more objectivist outlooks hold that values depend
on mind in general rather than on the individual mind.[65]
A different position accepts that values are mind-independent but holds that they
are reducible to other facts, meaning that they are not a fundamental part of
reality. One form of reductionism maintains that a thing is good if it is fitting
to favor this thing, regardless of whether people actually favor it, a position
known as the fitting-attitude theory of value. The buck-passing account, a closely
related reductive view, argues that a thing is valuable if people have reasons to
treat the thing in certain ways. These reasons come from other features of the
valuable thing. According to some views, reductionism is a form of realism, but the
strongest form of realism says that value is a fundamental part of reality and
cannot be reduced to other aspects.[66]
Sources of value
Various theories about the sources of value have been proposed. They aim to clarify
what kinds of things are intrinsically good.[67] The historically influential
theory of hedonism[m] states that how people feel is the only source of value. More
specifically, it says that pleasure is the only intrinsic good and pain is the only
intrinsic evil.[69] According to this view, everything else only has instrumental
value to the extent that it leads to pleasure or pain, including knowledge, health,
and justice. Hedonists usually understand the term pleasure in a broad sense that
covers all kinds of enjoyable experiences, including bodily pleasures of food and
sex as well as more intellectual or abstract pleasures, like the joy of reading a
book or happiness about a friend's promotion. Pleasurable experiences come in
degrees, and hedonists usually associate their intensity and duration with the
magnitude of value they have.[70][n]
Many hedonists identify pleasure and pain as symmetric opposites, meaning that the
value of pleasure balances out the disvalue of pain if they have the same
intensity. However, some hedonists reject this symmetry and give more weight to
avoiding pain than to experiencing pleasure.[72] Although it is widely accepted
that pleasure is valuable, the hedonist claim that it is the only source of value
is controversial.[73] Welfarism, a closely related theory, understands well-being
as the only source of value. Well-being is what is ultimately good for a person,
which can include other aspects besides pleasure, such as health, personal growth,
meaningful relationships, and a sense of purpose in life.[74]
Monist theories of value assert that there is only a single source of intrinsic
value. They agree that various things have value but maintain that all
fundamentally good things belong to the same type. For example, hedonists hold that
nothing but pleasure has intrinsic value, while desire theorists argue that desire
satisfaction is the only source of fundamental goodness. Pluralists reject this
view, contending that a simple single-value system is too crude to capture the
complexity of the sphere of values. They say that diverse sources of value exist
independently of one another, each contributing to the overall value of the world.
[84]
One motivation for value pluralism is the observation that people value diverse
types of things, including happiness, friendship, success, and knowledge.[85] This
diversity becomes particularly prominent when people face difficult decisions
between competing values, such as choosing between friendship and career success.
[86] In such cases, value pluralists can argue that the different items have
different types of values. Since monists accept only one source of intrinsic value,
they may provide a different explanation by proposing that some of the valuable
items only have instrumental value but lack intrinsic value.[87]
Black-and-white photo of a man with glasses wearing a suit and a bow tie
Isaiah Berlin argued that conflicts between different types of values, like liberty
and equality, cannot always be resolved.[88]
Pluralists have proposed various accounts of how their view affects practical
decisions. Rational decisions often rely on value comparisons to determine which
course of action should be pursued.[89] Some pluralists discuss a hierarchy of
values reflecting the relative importance and weight of different value types to
help people promote higher values when faced with difficult choices.[90] For
example, philosopher Max Scheler ranks values based on how enduring and fulfilling
they are into the levels of pleasure, utility, vitality, culture, and holiness. He
asserts that people should not promote lower values, like pleasure, if this comes
at the expense of higher values.[91][q]
Several controversies surround the question of how the intrinsic value of a whole
is determined by the intrinsic values of its parts. According to the additivity
principle, the intrinsic value of a whole is simply the sum of the intrinsic values
of its parts. For example, if a virtuous person becomes happy then the intrinsic
value of the happiness is simply added to the intrinsic value of the virtue,
thereby increasing the overall value.[98]
Black-and-white photo of man wearing a suit with a pipe in his mouth
G. E. Moore introduced the idea of organic unities to describe entities whose total
intrinsic value is not the sum of the intrinsic values of their parts.[99]
In the social sciences, value theorists face the challenge of measuring the
evaluative outlook of individuals and groups. Specifically, they aim to determine
personal value hierarchies, for example, whether a person gives more weight to
truth than to moral goodness or beauty.[117] They distinguish between direct and
indirect measurement methods. Direct methods involve asking people straightforward
questions about what things they value and which value priorities they have. This
approach assumes that people are aware of their evaluative outlook and able to
articulate it accurately. Indirect methods do not share this assumption, asserting
instead that values guide behavior and choices on an unconscious level.
Consequently, they observe how people decide and act, seeking to infer the
underlying value attitudes responsible for picking one course of action rather than
another.[118]
Various catalogs or scales of values have been proposed in psychology and related
social sciences to measure value priorities. The Rokeach Value Survey considers a
total of 36 values divided into two groups: instrumental values, like honesty and
capability, which serve as means to promote terminal values, such as freedom and
family security. It asks participants to rank the values based on their impact on
the participants' lives, aiming to understand the relative importance assigned to
each of them. The Schwartz theory of basic human values is a modification of the
Rokeach Value Survey that seeks to provide a more cross-cultural and universal
assessment. It arranges the values in a circular manner to reflect that neighboring
values are compatible with each other, such as openness to change and self-
enhancement, while values on opposing sides may conflict with each other, such as
openness to change and conservation.[119]
In various fields
Ethics
Main article: Ethics
Ethics and value theory are overlapping fields of inquiry. Ethics studies moral
phenomena, focusing on how people should act or which behaviors are morally right.
[120] Value theory investigates the nature, sources, and types of values in
general.[2] Some philosophers understand value theory as a subdiscipline of ethics.
This is based on the idea that what people should do is affected by value
considerations but not necessarily limited to them.[7] Another view sees ethics as
a subdiscipline of value theory. This outlook follows the idea that ethics is
concerned with moral values affecting what people can control, whereas value theory
examines a broader range of values, including those beyond anyone's control.[121]
Some perspectives contrast ethics and value theory, asserting that the normative
concepts examined by ethics are distinct from the evaluative concepts examined by
value theory.[23] Axiological ethics is a subfield of ethics examining the nature
and role of values from a moral perspective, with particular interest in
determining which ends are worth pursuing.[122]
Economics is a social science studying how goods and services are produced,
distributed, and consumed, both from the perspective of individual agents and
societal systems.[126] Economists view evaluations as a driving force underlying
economic activity. They use the notion of economic value and related evaluative
concepts to understand decision-making processes, resource allocation, and the
impact of policies. The economic value or benefit of a commodity is the advantage
it provides to an economic agent, often measured in terms of what people are
willing to pay for it.[127]
Economic theories of value are frameworks to explain how economic value arises and
which factors influence it. Prominent frameworks include the classical labor theory
of value and the neo-classical marginal theory of value.[128] The labor theory,
initially developed by the economists Adam Smith and David Ricardo, distinguishes
between use value—the utility or satisfaction a commodity provides—and exchange
value—the proportion at which one commodity can be exchanged with another.[129] It
focuses on exchange value, which it says is determined by the amount of labor
required to produce the commodity. In its simplest form, it directly correlates
exchange value to labor time. For example, if the time needed to hunt a deer is
twice the time needed to hunt a beaver then one deer is worth two beavers.[130] The
philosopher Karl Marx extended the labor theory of value in various ways. He
introduced the concept of surplus value, which goes beyond the time and resources
invested to explain how capitalists can profit from the labor of their employees.
[131]
The marginal theory of value focuses on consumption rather than production. It says
that the utility of a commodity is the source of its value. Specifically, it is
interested in marginal utility, the additional satisfaction gained from consuming
one more unit of the commodity. Marginal utility often diminishes if many units
have already been consumed, leading to a decrease in the exchange value of
commodities that are abundantly available.[132] Both the labor theory and the
marginal theory were later challenged by the Sraffian theory of value, which
considers diverse forms of production costs, including but not limited to the
quantity of labor.[133]
Sociology
Main article: Sociology
Shared values can help unite people in the pursuit of a common cause, fostering
social cohesion. Value differences, by contrast, may divide people into
antagonistic groups that promote conflicting projects. Some sociologists employ
value research to predict how people will behave. Given the observation that
someone values the environment, they may conclude that this person is more likely
to recycle or support pro-environmental legislation.[136] One approach to this type
of research uses value scales, such as the Rokeach Value Survey and the Schwartz
theory of basic human values, to measure the value outlook of individuals and
groups.[137]
Anthropology
Main article: Anthropology
Anthropology also studies human behavior and societies but does not limit itself to
contemporary social structures, extending its focus to humanity both past and
present.[138] Similar to sociologists, many anthropologists understand values as
social representations of goals worth pursuing. For them, values are embedded in
mental structures associated with culture and ideology about what is desirable. A
slightly different approach in anthropology focuses on the practical side of
values, holding that values are constantly created through human activity.[139]
As the study of mental phenomena and behavior, psychology contrasts with sociology
and anthropology by focusing more on the perspective of individuals than the
broader social and cultural contexts.[144] Psychologists tend to understand values
as abstract motivational goals or general principles about what matters.[145] From
this perspective, values differ from specific plans and intentions since they are
stable evaluative tendencies not bound to concrete situations.[146]
The origin of value theory lies in the ancient period, with early reflections on
the good life and the ends worth pursuing.[151] Socrates (c. 469–399 BCE)[152]
identified the highest good as the right combination of knowledge, pleasure, and
virtue, holding that active inquiry is associated with pleasure while knowledge of
the Good leads to virtuous action.[153] Plato (c. 428–347 BCE)[154] conceived the
Good as a universal and changeless idea. It is the highest form in his theory of
forms, acting as the source of all other forms and the foundation of reality and
knowledge.[155] Aristotle (384–322 BCE)[156] saw eudaimonia as the highest good and
ultimate goal of human life. He understood eudaimonia as a form of happiness or
flourishing achieved through the exercise of virtues in accordance with reason,
leading to the full realization of human potential.[157] Epicurus (c. 341–271 BCE)
proposed a nuanced egoistic hedonism, stating that personal pleasure is the
greatest good while recommending moderation to avoid the negative effects of
excessive desires and anxiety about the future.[158] According to the Stoics, a
virtuous life following nature and reason is the highest good. They thought that
self-mastery and rationality lead to a pleasant equanimity independent of external
circumstances.[159] Influenced by Plato, Plotinus (c. 204/5–270 CE) held that the
Good is the ultimate principle of reality from which everything emanates. For him,
evil is not a distinct opposing principle but merely a deficiency or absence of
being resulting from a missing connection to the Good.[160]
Painting of a man with a long beard and mustache wearing traditional Chinese
scholarly robes
Confucius viewed general benevolence towards humanity as the supreme virtue.[161]
In ancient Indian philosophy, the idea that people are trapped in a cycle of
rebirths arose around 600 BCE.[162] Many traditions adopted it, arguing that
liberation from this cycle is the highest good.[163] Hindu philosophy distinguishes
the four fundamental values of duty, economic wealth, sensory pleasure, and
liberation.[164] Many Hindu schools of thought prioritize the value of liberation.
[165] A similar outlook is found in ancient Buddhist philosophy, starting between
the sixth and the fifth centuries BCE, where the cessation of suffering through the
attainment of Nirvana is considered the ultimate goal.[166] In ancient China,
Confucius (c. 551–479 BCE)[167] explored the role of self-cultivation in leading a
virtuous life, viewing general benevolence towards humanity as the supreme virtue.
[161] In comparing the highest virtue to water, Laozi (6th century BCE)[u]
emphasized the importance of living in harmony with the natural order of the
universe.[169]
Religious teachings influenced value theory in the medieval period. Early Christian
thinkers, such as Augustine of Hippo (354–430 CE),[170] adapted the theories of
Plato and Plotinus into a religious framework. They identified God as the ultimate
source of existence and goodness, seeing evil as a mere lack or privation of good.
[171] Drawing on Aristotelianism, Christian philosopher Thomas Aquinas (1224–1274
CE)[172] said that communion with the divine, achieved through a beatific vision of
God, is the highest end of humans.[173] In Arabic–Persian philosophy, Avicenna
(980–1037 CE)[174] regarded the intellect as the highest human faculty. He thought
that a contemplative life prepares humans for the greatest good, which is only
attained in the afterlife when humans are free from bodily distractions.[175] In
Chinese thought, the early neo-Confucian philosopher Han Yu (768–824 CE) identified
the sage as an ideal role model who, through self-cultivation, achieves personal
integrity expressed in harmony between theory and action in daily life.[176]
Another view sees axiology as the wider field and restricts value theory to
questions concerning the nature of value.[11]
The term value has other meanings as well, such as the value of a mathematical
variable expressing the information or quantity that this variable carries.[13]
Value theory is only interested in the evaluative sense of the term about being
good or bad in a certain respect.[14]
Some philosophers, such as G. E. M. Anscombe, Philippa Foot, and Iris Murdoch, have
argued that there are no pure thin evaluative terms.[17]
Critics of this thought experiment argue that it depends on controversial
assumptions about the nature of intrinsic value and is not applicable to all cases.
[27]
In the social sciences, some works rely on the concept of relational value to
understand the value of the relationship between humans and nature. According to
this view, relational value is a unique type of value that is neither intrinsic nor
instrumental.[33]
Prudential value is a closely related concept signifying what is good for a person.
[37]
Consequentialism is a theory in normative ethics. It says that whether an act is
right depends on its consequences.[40]
In scholastic philosophy, they are known as transcendentals and considered
fundamental aspects of being.[45]
If this position limits itself to the moral realm, it is known as moral realism, an
influential position in ethics.[49]
This view is sometimes called radical nihilism.[58]
This means that value statements are neither true nor false.[59]
Projectivism is a closely related view holding that values are projections of
emotions onto the world.[61]
This view is sometimes called axiological hedonism to distinguish it from related
theories under this label.[68]
Qualitative hedonists argue that the quality of pleasure is an additional factor
influencing its value besides intensity and duration. Some distinguish higher
pleasures of the mind, like enjoying fine art and philosophy, from lower pleasures
of the body, like enjoying food and drink.[71]
Some theorists use the terms desire satisfaction and desire fulfillment as synonyms
while others distinguish between them. According to the latter view, desire
satisfaction is a subjective state involving a possibly false belief that a desire
is satisfied. Desire fulfillment is an objective state present if the desired
outcome actually exists, even if the person does not know about it.[75]
Some desire theories aim to explain goodness in general while others restrict
themselves to goodness for a person.[76]
In some places, Scheler talks about four levels instead of five: sensory, vital,
spiritual, and holy.[92]
More specifically, this implies that one value is not better than the other, not
worse than the other, and not as good as the other.[94]
Moore's isolation test is another influential thought experiment about intrinsic
value.[26]
This problem is the main topic of Moore's controversial open-question argument.
[115]
This period is given in traditional sources. Some contemporary scholars have
suggested later dates or questioned whether there was a single person by that name.
[168]
Clarence Irving Lewis (1883–1964) accepted and further elaborated many of Dewey's
insights.[195]
Ross is primarily known for his deontological pluralism about different types
of prima facie duties, which is related but not identical to his axiological
pluralism about different types of values.[200]
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Oddie 2013, Lead section
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Oliveira 2016, § 1. Introduction
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Oddie 2013, Lead section
Bradley 2006, pp. 111–112, 115
Oliveira 2016, § 1. Introduction
Oddie 2013, Lead section, § Are Value Claims Truth Evaluable?, § Value Realism by
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Oddie 2013, § Are Value Claims Truth Evaluable?, § Quasi-Realism and Creeping
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HarperCollins 2022a
Tappolet 2015, p. 80
Oddie 2013, § Quasi-Realism and Creeping Minimalism
Oliver 1998
Oddie 2013, Lead section, § Are the Value Facts Irreducible?, § Value Realism
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Oliver 1998
Howard 2023, Lead section, § 1.5 Buck Passing
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Mukherjee, Mukherjee & Ghose 2013, p. 17
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