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would be extremely paradoxical if it were held. But it does not do this. It does not deny all value to other things, but only all intrinsic value—a very different thing. It only says that none of them would have any value if they existed quite alone. But, of course, as a matter of fact, none of them do exist quite alone, and hence it may quite consistently allow that, as it is, many of them do have very great value. Concerning kinds of value, other than intrinsic value, it does not profess to lay down any general rules at all. And its reason for confining itself to intrinsic value is because it holds that this and this alone is related to right and wrong in the perfectly definite manner explained above. Whenever an action is right, it is right only if and because the total effects of no action, which the agent could have done instead, would have had more intrinsic value; and whenever an action is wrong, it is wrong only if and because the total effects of some other action, which the agent could have done instead, would have had more intrinsic value. This proposition, which is true of