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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.
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]
Philosophy is the study of general and fundamental problems concerning matters such as existence, knowledge, values, reason, mind, and language. [1] [2] It is distinguished from other ways of addressing fundamental questions (such as mysticism, myth) by being critical and generally systematic and by its reliance on rational argument. [3]
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 Philosophy of Money (1900; German: Philosophie des Geldes) [1] is a book on economic sociology by German sociologist and social philosopher Georg Simmel. [2] Considered to be the theorist's greatest work, Simmel's book views money as a structuring agent that helps people understand the totality of life.
The concept of value, like the concept of prices, is often used in a rather "loose" sense – referring to a cost or expense, a compensation, a yield or return, or a valuation (of a product, an asset, a service, a lease etc.). The language of trade often does not make the social, legal and economic relations involved in trade very explicit.
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.
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.