In This Reading James Sets Forth His View of Truth

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In this reading James sets forth his view of truth. He holds that truth is dynamic rather than static and is to be defined in terms of beliefs that are useful or satisfying. Unlike the "intellectualists" (James's characterization of the traditional static approaches to the question of truth, i.e., the correspondence theorists), truth is in process-still becoming and changing. Yesterday's truth is today's falsehood, and today's truth is tomorrow's half-truth. What really matters is what you can do with an idea, what difference it makes to your life, its (in James's term) "cash-value."
-James declares that truth lives on a credit system.