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However, Smith points out, the perspective on value and evaluation has changed dramatically, and is still a topic of debate. These new perspectives indicate that value judgments are made by entire societies, not necessarily individuals; they also give rise to skepticism and question traditional ideas about how evaluations are made.
Pointing out the importance of attempting to define a term before truly being able to discuss it, Smith identifies "value" as two separate but related meanings. The first and most obvious relates to the worth of an object, or "the material? equivalence-in-exchange of something" (178)...
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