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In ''The Objectivist Ethics'', Rand begins her description of the Objectivist theory of value by arguing in favour of the necessity of value,<ref>Rand (2005b), p. 13</ref> explicitly stating the importance of opening with the question 'Why does man need a code of values?' and rejecting the immediate question of 'What particular values should man accept?'<ref>Rand (2005b), p. 14</ref> She argues, quoting [[John Galt (Atlas Shrugged)|John Galt]], the [[Randian hero]] in ''[[Atlas Shrugged]]'',<ref>Rand (2005b), p. 16</ref> that actions can only have value to living entities, and that it is the ability of living entities to hold goals that allows them to have value.<ref>Rand (2005b), p. 17</ref>
The best-known of the statements on this subject holds:<ref name="Obligation and Value" />
{{cquote|An ''ultimate'' value is that final goal or end to which all lesser goals are the means Rand considers life to be metaphysically removed from other values, as it is not a value by choice, but a value by its nature.<ref name="Obligation and Value" /> Rand thus continues to claim to have solved the '[[is-ought problem]]' posed by [[David Hume]],<ref name="Is-Ought Problem">{{cite journal |last=O'Neil |first=Patrick M. |year=1983 |month=April |title=Ayn Rand and the Is-Ought Problem |journal=The Journal of Libertarian Studies |volume=VII |issue=1 |pages=pp. 81–99 |url=http://www.mises.org/journals/jls/7_1/7_1_4.pdf?AspxAutoDetectCookieSupport=1 |accessdate= 2007-08-26 |quote= }}</ref> writing, "The fact that a living entity ''is'', determines what it ''ought'' to do. So much for the relation between 'is' and 'ought'."<ref>Rand (2005b), p. 18</ref> Hence, Rand determines, an objective system of morality is both possible and necessary.<ref name="Is-Ought Problem" />
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