Valuation and emotion according to John Dewey.

This article examines the pragmatist philosopher John Dewey’s contributions to the role of morals, ethics, and values in economics, with a particular focus on the often-overlooked importance of emotion in value formation and moral inquiry. Dewey’s theory emphasizes that emotions and valuations are interconnected, dynamic, and socially embedded processes that guide moral judgment through a continuous inquiry involving both affective and reflective phases. Rejecting emotivism, Dewey argues that emotions do not merely express values but serve as objective signals that initiate and inform the valuation process, which transforms raw desires into considered, desirable ends. The article further explores how Dewey’s integrated view of emotion, imagination, and inquiry can enrich economic debates by overcoming rigid distinctions between means and ends, providing a richer informational basis for decision-making, and illuminating moral preferences, with implications for contemporary issues such as climate change.