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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.
An object with intrinsic value may be regarded as an end, or in Kantian terminology, as an end-in-itself. [2] The term "intrinsic value" is used in axiology, a branch of philosophy that studies value (including both ethics and aesthetics). All major normative ethical theories identify something as being intrinsically valuable.
Philosophy is a systematic study of general and fundamental questions concerning topics like existence, reason, knowledge, value, mind, and language. It is a rational and critical inquiry that reflects on its methods and assumptions.
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]
Social value is a concept used in the public sector and in philanthropic contexts to cover the net social, environmental and economic benefits of individual and collective actions for which the concepts of economic value or profit are inadequate.
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.
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.