Definition from Wiktionary, the free dictionary
- A hierarchy of values that all moral agents possess, demonstrated by their choices. Most people's value systems differ, making the imposition of a singular value system by the state a source of constant social warfare. This is an individualistic concept. One's value system is molded by one's virtues or vices.
- A person's standards and self-discipline set, based on the common sense and wisdom of knowing what the proper moral rules and discipline are, and the amount of willingness to see themselves and others abide by them.
- The definition of this term is consistent with other definitions related to the concept of market anarchy.