CONFLICTING VALUES: A TRIBUTE TO MAX WEBER

This paper examines the wisdom of Max Weber in the light of the theme: ‘Asian Heritage in a Global Society.’ In particular, the paper addresses the wisdom of an uncritical embrace of western values, particularly that of capitalism and that of the blind adoption of westernized democratic concepts, by the cultures of Asia. It looks at the conflicting social values between the eastern and the western ways of life and questions how humankind should react in the light of such conflicts. Additionally, this paper takes a long and hard look into the conflicting values in the commercial world. It aims to show the inadequacy of the present definition of ‘Market Value’ as advocated by present day property professionals as the definition fails to take into consideration of the value of any property for the ‘public good’. The conflict that arises between the value for the benefit of the public and that for the benefit of a commercially interested individual or group is highlighted. It proposes another version of that definition of ‘Market Value’ that incorporates the concept of value for the common good of the public