Dewey's Theory of Valuation

Abstract

S INCE Dewey's theory of valuation has probably received its final formulation in his recent monograph on the subject, it is an appropriate time to review and examine this important feature of his social philosophy. His main discussions of value and valuation are familiar and readily available, and therefore I shall not use space in an exposition. While earlier and later writings show minor discrepancies and continuous growth, taken together they build up a theory that is on the whole consistent and richly elaborated. All admirers and followers of Dewey will agree with the main features of his theory. They will share his protest against authoritative standards, against the notion of fixed and eternal values, and against the theory of a transcendent absolute standard. They will agree with his insistence on the hypothetical nature of ends, on the empirical validation of judgments of value, and on the relativity of means and ends. It is not necessary, however, that those of us who have learned from Dewey and share his fundamental principles should agree with all the corollaries and applications which Dewey himself or certain of his adherents draw from these principles. To confine the discussion to reasonable limits I shall direct attention to four corollaries that I regard as dubious: i. From the relativity of means and ends Dewey draws the conclusion that the practice of setting up ideals without provision for their fulfilment is futile or harmful. 2. From the fact that ends and valuation arise in problem situations (or, in the words of C. E. Ayres, in the technological process) the conclusion is drawn that the division of function by which one set of persons is assigned the task of formulating ends and other sets of persons are assigned the task of devising means and techniques is impractical or disastrous. 3. From his own concern with theory of valuation Dewey concludes that theory of value is futile or impossible. He maintains that the theory that values can be compared and ranked (the comparative theory of value) is contrary to fact and false. 4. From the fact that thinking, valuing, and desiring are functions of individual persons, Dewey appears to conclude that corporate decisions are formed by adding individual decisions. His theory of valuation is a theory of how an individual values and it leaves almost untouched the question of corporate processes of estimation, valuing, and policy formulation.