The Theory of Value is a central concept in Philosophy that seeks to understand the meaning and importance of value in different contexts. In this glossary, we will explore in detail what the Theory of Value is, its main currents and how it is applied in different fields of knowledge. Let's start?
What is the Theory of Value?
Value Theory is an area of study that seeks to understand how human beings attribute value to different things, ideas, objects or services. It seeks to answer questions such as: what makes something valuable? How do people determine the value of something? What are the criteria used to assess the value of something?
There are several schools of thought within the Theory of Value, each with their own approaches and perspectives. The main currents are the Use Value Theory, the Exchange Value Theory and the Subjective Value Theory.
Use Value Theory
The Use Value Theory argues that the value of something is related to its usefulness and ability to satisfy human needs. According to this current, an object or service has value when it is capable of meeting a demand or meeting a specific purpose. For example, water has use value because it is essential for human survival.
This theory also considers that use value can vary according to individual needs and preferences. What is useful for one person may not be useful for another, which demonstrates the subjectivity involved in attributing value.
Exchange Value Theory
The Exchange Value Theory, in turn, emphasizes the relationship between supply and demand in determining the value of something. According to this current, the value of an object or service is determined by the amount of work required to produce it and the number of people willing to acquire it.
This theory is related to the concept of market value, which is influenced by factors such as the scarcity of a product, the demand for it and competition between producers. For example, a rare and highly sought after object tends to have a high exchange value.
Subjective Value Theory
The Theory of Subjective Value argues that the value of something is determined by individual preferences and the usefulness perceived by each person. According to this current, the value of an object or service is not intrinsically within it, but rather in the mind of the person who evaluates it.
This theory considers that people have different perceptions and assessments of the value of things, which can vary according to factors such as personal experiences, culture, social and emotional context. For example, a work of art may have a high subjective value for a collector, but not have the same value for another person.
Applications of Value Theory
The Theory of Value has applications in several areas of knowledge, such as Economics, Philosophy, Sociology, Psychology and Marketing. In Economics, for example, it is fundamental to understanding supply and demand mechanisms, price formation and resource allocation.
In the field of Philosophy, the Theory of Value is essential for discussing ethical and moral issues, such as what is considered valuable in terms of virtues, principles and human actions. It is also relevant to Political Philosophy, when analyzing the value of freedom, equality and individual rights.
In Sociology, Value Theory helps to understand how social values are constructed and shared in a given culture or society. It is also important for understanding power relations and social inequalities.
In Psychology, Value Theory is used to investigate how people attribute value to themselves, others and the world around them. It is also relevant for understanding decision-making processes and human motivations.
In Marketing, Value Theory is applied to understand how consumers perceive and evaluate the value of a product or service. She assists in creating pricing strategies, brand positioning and communication with the target audience.
In short, Value Theory is a field of study that seeks to understand how human beings attribute value to different things and how this value is determined. It has several schools of thought, such as the Theory of Use Value, the Theory of Exchange Value and the Theory of Subjective Value. Furthermore, the Theory of Value has applications in various areas of knowledge, such as Economics, Philosophy, Sociology, Psychology and Marketing.
