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Definition:
Value is a measure of worth. To say that something has value is to express the idea
that the object is worth something. How and why this value exists is another question.
A theory of value is a theory of how and why things in the world are believed to have
worth or importance.
Sometimes, value is extrinsic (exists only in relationships to other things) and sometimes it is intrinsic (exists because of the nature of the object). Normally, though, value can only be expressed as part of some relationship - for something to have value, it has to have value to some person.
In ethics, there are also discussions about the relationship between the moral value of actions like telling the truth and the non-moral value of certain states, like being happy. For a deontologist, actions like telling the truth have value in and of themselves.
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Related Resources:
What are Ethics and Morality?
Ethics is the formal study of moral standards and conduct. For this reason, the study of ethics is also often called "moral philosophy." What is good? What is evil? How should I behave - and why? How should I balance my needs against the needs of others?What is Philosophy?
What is philosophy? Is there any point in studying philosophy, or is it a useless subject? What are the different branches of philosophy - what's the difference between aestheitcs and ethics? What's the difference between metaphysics and epistemology?
