The purpose of this discussion is to supply the main outlines of a theory of value based upon analysis of the valuation-process from the logical point of view. The general principle which we shall seek to establish is that judgments of value, whether passed upon things or upon modes of conduct, are essentially objective in import, and that they are reached through a process of valuation which is essentially of the same logical character as the judgment-process whereby conclusions of physical fact are established—in a word, that the valuation-process, issuing in the finished judgment of value expressive of the judging person's definitive attitude toward the thing in question, is constructive of an order of reality in the same sense as, in current theories of knowledge, is the judgment of sense-perception and science. Our method of procedure to this end will be that of assuming, and adhering to as consistently as possible, the standpoint of the individual in the process of deliberating upon an ethical or economic problem (for, as we shall hold, all values properly so called are either ethical or economic), and of ascertaining, as accurately as may be, the meaning of the deliberative or evaluating process and of the various factors in it as these are presented in the individual's apprehension. It is in this sense that our procedure will be logical rather than psychological. We shall be concerned to determine the meaning of the object of valuation as object, of the standard of value as standard, and of the valued object as valued, in terms of the individual's own apprehension of these, rather than to ascertain the nature and conditions of his apprehensions of these considered as psychical events. Our attention will throughout be directed to these factors or phases of the valuation-process in their functional aspect of determinants of the valuing agent's practical attitude, and never, excepting for purposes of incidental illustration and in a very general and tentative way, as events in consciousness mediated by more "elementary" psychical processes. The results which we shall gain by adhering to this method will enable us to see not merely that our judgments of value are in function and meaning objective, but also that our judgments of sense-perception and science are, as such, capable of satisfactory interpretation only as being incidental to the attainment and progressive reconstruction of judgments of value.
The first three main divisions will be given over to establishing the objectivity of content and function of judgments of value. The fourth division will present a detailed analysis of the two types of judgment of value, the ethical and economic, defining them and relating them to each other, and correlating them in the manner just suggested with judgment of the physical type. After considering, in the fifth part, certain general objections to the positions thus stated, we shall proceed in the sixth and concluding division to define the function of the consciousness of value in the economy of life.[107]
I
The system of judgments which defines what one calls the objective order of things is inevitably unique for each particular individual. No two men can view the world from the standpoint of the same theoretical and practical interests, nor can any two proceed in the work of gaining for themselves knowledge of the world with precisely equal degrees of skill and accuracy. Each must be prompted and guided, in the construction of his knowledge of single things and of the system in which they have their being, by his own particular interests and aims; and even when one person in a measure shares in the interests and aims of another, the rate and manner of procedure will not be the same for both, nor will the knowledge gained be for both equally systematic in arrangement or in interrelation of its parts. Each man lives in a world of his own—a world, indeed, identical in certain fundamental respects with the worlds which his fellow-men have constructed for themselves, but one nevertheless necessarily unique through and through because each man is a unique individual. There is, doubtless, a "social currency" of objects which implies a certain identity of meaning in objects as experienced by different individuals. The existence of society presupposes, and its evolution in turn develops and extends, a system of generally accepted objects and relations. Nevertheless, the "socially current object" is, as such, an abstraction just as the uniform social individual is likewise an abstraction. The only concrete object ever actually known or in any wise experienced by any person is the object as constructed by that person in accordance with his own aims and purposes, and in which there is, therefore, a large and important share of meaning which is significant to no one else.
It is needless in this discussion to dwell at length upon the general principle of recent "functional" psychology, that practical ends are the controlling factors in the acquisition of our knowledge of objective things. We shall take for granted the truth of the general proposition that cognition, in whatever sphere of science or of practical life, is essentially teleological in the sense of being incidental always, more or less directly, to the attainment of ends. Cognition, as the apperceptive or attentive process, is essentially the process of scrutinizing a situation (whether theoretical or practical) with a view to determining the availability for one's intended purpose of such objects and conditions as the situation may present. The objects and conditions thus determined will be made use of or ignored, counted upon as advantageous or guarded against as unfavorable—in a word, responded to—in ways suggested by their character as ascertained through reference to the interest in question. In this sense, then, objective things as known by individual persons are essentially complex stimuli whose proper function and reason for being it is to elicit useful responses in the way of conduct—responses conducive to the realization of ends.
From this point of view, then, the difference between one person's knowledge of a particular object and another's signifies (1) a difference between these persons' original purposes in setting out to gain knowledge of the object, and (2) consequently a difference between their present ways of acting with reference to the object. The bare object as socially current is, at best, for each individual simply a ground upon which subsequent construction may be made; and the subsequent construction which each individual is prompted by his circumstances and is able to work out in judgment first makes the object, for this individual, real and for his purposes complete.
Now, it is our primary intention to show that objects are, in cases of a certain important class, not yet ready to serve the person who knows them in their proper character of stimuli, when they have been, even exhaustively, defined in merely physical terms. It is very often not enough that the dimensions of an object and its physical properties, even the more recondite ones as well as those more commonly understood—it is often not enough for the purposes of an agent that these characters should make up the whole sum of his knowledge of the object in question. A measure of knowledge in terms of physical categories is often only a beginning—the result of a preliminary stage of the entire process of teleological determination, which must be carried through before the object of attention can be satisfactorily known. In the present study of the logic of valuation we shall be occupied exclusively with the discussion of cases of this kind. In our judgments of sense-perception and physical science we have presented to us material objects in their physical aspect. When these latter are inadequate to suggest or warrant overt conduct, our knowledge of them must be supplemented and reconstructed in ways presently to be specified. It is in the outcome of judgment-processes in which this work of supplementing and reconstructing is carried through that the consciousness of value, in the proper sense, arises, and these processes, then, are those which we shall here consider under the name of "processes of valuation." They will therefore best be approached through specification of the ways in which our physical judgments may be inadequate.
Let us, then, assume, as has been indicated, that the process of acquiring knowledge—that is to say, the process of judgment or attention—is in every case of its occurrence incidental to the attainment of an end. We must make this assumption without attempting formally to justify it—though in the course of our discussion it will be abundantly illustrated. Let us, in accordance with this view, think of the typical judgment-process as proceeding, in the main, as follows: First of all must come a sense of need or deficiency, which may, on occasion, be preceded by a more or less violent and sudden shock to the senses, forcibly turning one's attention to the need of immediate action. By degrees this sense of need will grow more definite and come to express itself in a more or less "clear and distinct" image of an end, toward which end the agent is drawn by desire and to which he looks with much or little of emotion. The emergence of the end into consciousness immediately makes possible and occasions definite analysis of the situation in which the end must be worked out. Salient features of the situation forthwith are noticed—whether useful things or favoring conditions, or, on the other hand, the absence of any such. Thus predicates and then subjects for many subsidiary judgments in the comprehensive judgment-process emerge together in action and interaction upon each other. The predicates, developed out of the general end toward which the agent strives, afford successive points of view for fresh analyses of the situation. The logical subjects thus discovered—objects of attention and knowledge—require, on the other hand, as they are scrutinized and judged, modification and re-examination of the end. The end grows clearer and fuller of detail as the predicates or implied ("constituent") ideas which are developed out of it are distinguished from each other and used in making one's inventory of the objective situation. Conversely, the situation loses its first aspect of confusion and takes on more and more the aspect of an orderly assemblage of objects and conditions, useful, indifferent, and adverse, by means of which the end may in greater or less measure be attained or must, in however greatly modified a form, be defeated. Now, in this development of the judgment-process, it must be observed, the end must be more or less clearly and consistently conceived throughout as an activity, if the objective means of action which have been determined in the process are not to be, at the last, separate and unrelated data still requiring co-ordination. If the end has been so conceived, the means will inevitably be known as members of a mechanical system, since the predicates by which they have been determined have at every point involved this factor of amenability to co-ordination. The judgment-process, if properly conducted and brought to a conclusion, must issue at the end in the functional unity of a finished plan of conduct with a perfected mechanical co-ordination of the available means.
We have now to see that much more may be involved in such a process as this than has been explicitly stated in our brief analysis. For the end itself may be a matter of deliberation, just as must be the physical means of accomplishing it; and, again, the means may call for scrutiny and determination from other points of view than the physical and mechanical. The final action taken at the end may express the outcome of deliberate ethical and economic judgment as well as of judgments in the sphere of sense-perception and physical science. Let us consider, for example, that one's end is the construction of a house upon a certain plot of ground. This end expresses the felt need of a more comfortable or more reputable abode, and has so much of general presumption in its favor. There may, however, be many reasons for hesitation. The cost in time or money or materials on hand may tax one's resources and injuriously curtail one's activities along other lines. And there may be ethical reasons why the plan should not be carried out. The house may shut off a pleasing prospect from the view of the entire neighborhood and serve no better end than the gratification of its owner's selfish vanity. It will cost a sum of money which might be used in paying just, though outlawed, debts.
Now, from the standpoint of such problems as these the fullest possible preliminary knowledge of the physical and mechanical fitness of our means must still be very abstract and general. It would be of use in any undertaking like the one we have supposed, but it is not sufficient in so far as the problem is one's own problem, concrete, particular, and so unique. One may, of course, proceed to the stage of physical judgment without having settled the ethical problems which may have presented themselves at the outset. The end may be entertained tentatively as a hypothesis until certain mechanical problems have been dealt with. But manifestly this is only postponement of the issue. The agent is still quite unprepared, even after the means have been so far determined, to take the first step in the execution of the plan; indeed, his uncertainty is probably only the more harassing than before. Moreover, the economic problems in the case are now more sharply defined, and these for the time being still further darken counsel. Manifestly the need for deliberation is at this point quite as urgent as the need for physical determination can ever be, and the need is evidenced in the same way by the actual arrest and postponement of overt conduct. The agent, despite his physical knowledge, is not yet free to embrace the end and, having done so, use thereto the means at his disposal. It is plainly impossible to use the physical means until one knows in terms of Substance and Attribute or Cause and Effect, or whatever other physical categories one may please, what manner of behavior may be expected of them. So likewise is it as truly impossible, for one intellectually and morally capable of appreciating problems of a more advanced and complex sort, to exploit the physical properties thus discovered until ethical determination of the end and economic determination of the means have been completed.[108]