Author presents a succinct statement of Husserl's project of phenomenology and argues it can ground intersubjectively valid value judgements. He bases this claim on a reading of transcendental subjectivity as a functional structure of world constituted by presence of purposive activity and so value laden and meaning structured. Since value so conceived is a transcendental function, it can claim validity independent of and prior to individual judgements. This the author presents as a viable reading of phenomenology as a working tool for dealing with contemporary philosophical problems.