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Intrinsic value Intrinsic value
INTRINSIC VALUE A thing's intrinsic value is the value it has in itself as opposed to the instrumental value it derives from causally producing something else. Such value is important for the theory of the right, since on most views at least one moral duty is to promote intrinsic goods and prevent... Read more
intrinsic intrinsic
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Deep ecology Deep ecology
Deep Ecology The term deep ecology was coined by Norwegian philosopher Arne Naess (b. 1912) in 1973 to contrast two different approaches to environmental concerns. Whereas shallow ecology merely seeks to avoid excessive pollution and resource depletion, deep ecology advocates the need for... Read more
money money
money term that actually refers to two concepts: the abstract unit of account in terms of which the value of goods, services, and obligations can be compared; and anything that is widely established as a means of payment. Frequently the standard of value also serves as a medium of exchange, but... Read more
Good Good
GOOD. Philosophical accounts of "the good" are, broadly speaking, accounts of what it is to be an object of value —especially of moral value. A systematic study of these accounts is aided by such distinctions as the following. Moral versus Nonmoral Good There is an important difference... Read more
Greshams Law Greshams Law
Gresham's Law the tendency for money of lower intrinsic value to circulate more freely than money of higher intrinsic and equal nominal value (often expressed as ‘Bad money drives out good’). It is named for the English financier Thomas Gresham (c.1519–79), who founded the... Read more
instrumental instrumental
instrumental in the grammar of certain languages (e.g., Russian), the case referring to means or instrument. The Latin ablative may in some instances be termed instrumental.... Read more
bad bad
bad a bad excuse is better than none it is better to attempt to give some kind of explanation, even a weak one; proverbial saying recorded from the mid 16th century.bad hair day a day on which everything seems to go wrong, characterized as a day on which one's hair is particularly unmanageable; an... Read more
Cash Surrender Value Cash Surrender Value
CASH SURRENDER VALUE The amount of money that an insurance company pays the insured upon cancellation of a life insurance policy before death and which is a specific figure assigned to the policy at that particular time, reduced by a charge for administrative expenses. The cash surrender value of... Read more
policy policy
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