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Societies for the History of Economics

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Fri Mar 31 17:18:43 2006
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----------------- HES POSTING ----------------- 
I never defined it as individual. In fact, an individual may have several 
systems of value which are used in different circumstances. And the process 
of criteria creation may be social. It most likely that values are defined 
by reference to a social group. And if the social group shares common 
characteristics it may share value systems. 
 
Nor are values necessarially subjective. If a group shares a value system 
and acts upon it, it is meaningful to call that value system objective. 
 
 
Rod Hay 
 
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