Value is value. You can’t have two separate types of value if you’re going to make a decision. You can’t say, “I’m going to use economic value for economic decisions, and ethical value for ethical decisions”, because decisions don’t break down nicely for you into those categories.
Economic value and ethical value need to be merged. And the result will look more like economic value, because economic value is well-studied and quantified, while the main point of the category “ethical value” is to be vague and slippery, so that people can avoid actually getting answers about ethics.
Value is value. You can’t have two separate types of value if you’re going to make a decision. You can’t say, “I’m going to use economic value for economic decisions, and ethical value for ethical decisions”, because decisions don’t break down nicely for you into those categories.
Economic value and ethical value need to be merged. And the result will look more like economic value, because economic value is well-studied and quantified, while the main point of the category “ethical value” is to be vague and slippery, so that people can avoid actually getting answers about ethics.
Economic value, a.k.a., market value, is how much something would be worth on the market. Ethical value is my personal utility function.