Outlines of a Formal Theory of Value, I

Contemporary philosophers interested in value theory appear to be largely concerned with questions of the following sort: What is value? What is the meaning of the word ‘good’? Does the attribution of value to an object have a cognitive, or merely an emotive, significance? The first question is metaphysical; to ask it is analogous to asking in physics: What is matter? What is electricity? The others are generally treated as semantical questions; to ask them is analogous to asking in statistics: What is the meaning of the word ‘probable’? Does an attribution of probability express an objective fact, or merely a subjective attitude?

Outlines of a Formal Theory of Value, I | Litlas