Final answer:
Predictive power is a key criterion for pragmatism, aligning with the practical emphasis of the tradition. Prognostic power is valued in pragmatism as it helps confirm the utility and truth of ideas when they are applied and tested through experience.
Step-by-step explanation:
Pragmatism is a philosophical tradition that focuses on the practical application of ideas, evaluating them through their successful outcomes when applied to human experiences. Predictive power is an essential aspect of this, as it allows for the testing and validation of ideas in the real world. The pragmatic theory of truth, as formulated by William James and others, posits that truth is that which works when put into practice.
Moreover, the pragmatic assessment of truth involves considering the consequences and functionality of beliefs over the long term, emphasizing the practical difference they make. Hence, in the scope of pragmatism, a hypothesis with strong prognostic power, which reliably predicts outcomes, is highly valued.