Wikipedia:Monthfeature/2004September
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Value theory studies the nature, sources, and types of values. 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 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. Various debates examine whether pleasure, desire, or something else is the source of intrinsic value. Value realists state that values have objective existence. Anti-realists reject this, with some seeing values as subjective human creations and others viewing value statements as meaningless. Value theory is an interdisciplinary field and its methods range from reliance on intuitions and thought experiments to the analysis of language and surveys. Its roots lie in antiquity as reflections on the highest good that humans should pursue. (Full article...)