Write 5 pages with APA style on Theory of Truth in Business. There are three fundamental theories of truth – the correspondence theory, the pragmatic theory, and the coherence theory. The correspondence theory of truth was advocated in the early 20th century by Russell and Moore. It asserts that truth is correspondence to a fact. that is, that truth is a “relational property involving a characteristic relation… to some portion of reality” where both the relation and reality are to be specified (David, 2009). This theory presupposes the existence of a set of known facts or truths, against which new claims are compared. when the new claims are consistent with the body of accepted facts, then they are also taken to be true. If they are inconsistent, then the new claims are considered false. The approach is metaphysical or objective, and the concept of truth is absolute (i.e., a claim is either true or false).
The pragmatic theory is most attributed to William James. It states that a pronouncement is true if it allows an actor to function effectively and efficiently with the universe (i.e., the totality of the environment he moves in). For James, truth is defined by its relationship to the “practical consequences of ideas”. the test of the truth of an idea is “the conduct it dictates or inspires.” (Archie & Archie, 2004) Because of the relative nature of its definition, the pragmatic theory allows for degrees of truth where the actor may function more effectively with the cosmos by some means than others. By contrast, in correspondence theory, the claim is adjudged either entirely true or entirely false.
The coherence theory was advocated by Willard Quine. The theory holds that “a claim is true if it is logically consistent with other beliefs also held to be true.” (Archie & Archie, 2005). . Conversely, a belief is false if it is inconsistent with other beliefs held to be true. .
. . . . . . . . . . . Of the three fundamental theories of truth, that which best supports the concept of truth in business, particularly advertising, is the pragmatic theory. . Of the pragmatists, James’ view appears to most closely approximate the view of the business. . . “’ The true,’ to put it very briefly, is only the expedient in the way of our thinking, just as ‘the right’ is only the expedient in the way of our behaving.” (Joyc