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Value theory is the study of values.Also called axiology, it examines the nature, sources, and types of values.It is a branch of philosophy and an interdisciplinary field closely associated with social sciences like economics, sociology, anthropology, and psychology.
In philosophy and ethics, an end, or telos, is the ultimate goal in a series of steps. For example, according to Aristotle the end of everything we do is happiness. It is contrasted to a means, which is something that helps you achieve that goal. For example, money or power may be said to be a means to the end of happiness.
Ethical value is sometimes used synonymously with goodness. However, "goodness" has many other meanings and may be regarded as more ambiguous. Social value is a concept used in the public sector to cover the social, environmental and economic impacts of individual and collective actions. [2]
An example conflict would be a value system based on individualism pitted against a value system based on collectivism. A rational value system organized to resolve the conflict between two such value systems might take the form below. Added exceptions can become recursive and often convoluted.
Prior to Hume, Aristotelian philosophy maintained that all actions and causes were to be interpreted teleologically. This rendered all facts about human action examinable under a normative framework defined by cardinal virtues and capital vices. "Fact" in this sense was not value-free, and the fact-value distinction was an alien concept.
Value-pluralism is an alternative to both moral relativism and moral absolutism (which Berlin called monism). [2] An example of value-pluralism is the idea that the moral life of a nun is incompatible with that of a mother, yet there is no purely rational measure of which is preferable. Hence, values are a means to an end.
The basic premise is that economic activities can only be fully understood in the context of the society that creates them. The concept of "value" is a social construct, and as such is defined by the culture using the concept. Yet we can gain some insights into modern patterns of exchange, value, and wealth by examining previous societies.
Many different things have been claimed to be of universal value, for example, fertility, [3] pleasure, [4] and democracy. [5] The issue of whether anything is of universal value, and, if so, what that thing or those things are, is relevant to psychology, political science, and philosophy, among other fields.