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cash-value


Subject Philosophy

DOI: 10.1111/b.9781405106795.2004.x


Extract

E pistemology William James 's term. The test of the truth of an idea or a proposition lies in its agreement with reality. This amounts to asking for its cash-value, that is, the fulfillment of the sense-experience that the proposition either records or predicts. We must put each concept to work in practical contexts. If an idea or a proposition operates, its cash-value is actualized. We may ascribe truth to it, in particular on the occasions on which it works. The notion of cash-value corresponds to Peirce 's pragmatic maxim , which holds that the meaning of a scientific concept is its practical bearing. “Matter is known as our sensations of colour, figure, hardness and the like. They are the cash-value of the term. The difference matter makes to us by truly being is that we then get such sensations; by not being, is that we lack them.” W. James, Pragmatism ... log in or subscribe to read full text

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