 This new and revolutionary idea has had a far reaching and manifold impact on the development of modern logic. It provides the means to uniformly complete the formal apparatus of a functional analysis of language by generalizing the concept of a function and introducing a special kind of functions, namely propositional functions, or truth value functions, whose range of values consists of the set of truth values. Among the most typical representatives of propositional functions one finds predicate expressions and logical connectives. As a result, one obtains a powerful tool for a conclusive implementation of the extensionality principle (also called the principle of compositionality), according to which the meaning of a complex expression is uniquely determined by the meanings of its components. On this basis one can also discriminate between extensional and intensional contexts and advance further to the conception of intensional logics. Moreover, the idea of truth values has induced a radical rethinking of some central issues in the philosophy of logic, including: the categorial status of truth, the theory of abstract objects, the subject-matter of logic and its ontological foundations, the concept of a logical system, the nature of logical notions, etc.