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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. For example, UK public procurement legislation refers to "social value" in its requirement that ...
It uses axioms to give an abstract definition of value, understanding it not as a property of things but as a property of concepts. Values measure the extent to which an entity fulfills its concept. For example, a good car has all the desirable qualities of cars, like a reliable engine and effective brakes, whereas a bad car lacks many.
Frankena, for example, wrote that we desire health "for its own sake", [69] and Zimmerman wrote that "Being healthy is just a good way to be". [70] The value that we ascribe to life itself and the value of "just being" have been mentioned previously, but it was Hartmann who reintroduced the notion from earlier German philosophy that Being has a ...
For example, parents in a hunter–gatherer society or surviving through subsistence agriculture value practical survival skills from a young age. Many such cultures begin teaching babies to use sharp tools, including knives, before their first birthdays. [28] Italian parents value social and emotional abilities and having an even temperament. [27]
In economics, a public good (also referred to as a social good or collective good) [1] is a good that is both non-excludable and non-rivalrous. Use by one person neither prevents access by other people, nor does it reduce availability to others. [1] Therefore, the good can be used simultaneously by more than one person. [2]
The word utility is used to mean general well-being or happiness, and Mill's view is that utility is the consequence of a good action. Utility, within the context of utilitarianism, refers to people performing actions for social utility. With social utility, he means the well-being of many people.
In contemporary economic theory, a common good is any good which is rivalrous yet non-excludable, while the common good, by contrast, arises in the subfield of welfare economics and refers to the outcome of a social welfare function. Such a social welfare function, in turn, would be rooted in a moral theory of the good (such as utilitarianism).
A value is a universal value if it has the same value or worth for all, or almost all, people. Spheres of human value encompass morality , aesthetic preference , traits , human endeavour , and social order .