Evolved dispositions influence, but do not determine, how people think about economic problems. The evolutionary cognitive approach offers important insights but underweights the social transmission of ideas as a level of explanation. The need for asocialexplanation for the evolution of economic attitudes is evidenced, for example, by immense variations in folk-economic beliefs over time and across individuals.

The idea, based on Life History Theory, that the Industrial Revolution was a positive feedback process wherein prosperity induced prosperity-promoting preference shifts is just an intriguing speculation. The evidence does not distinguish this explanation from simple alternatives. For example, increased prosperity may have freed up time for individuals to engage in innovative activity and increased the benefits from doing so.

Three prominent economists born early in the twentieth century—James Buchanan, Jack Hirshleifer, and Simon Rottenberg—switched from a belief in socialism in their twenties or thirties to strong support for free markets. Interviews show that for all three, and especially for Buchanan and Rottenberg, what changed them is what they learned in their economics classes. For Hirshleifer, another major influence was the pact between Hitler and Stalin, which caused him to be more skeptical about leftist ideas and made him (...) more open to intellectual criticisms of socialism. (shrink)

This book offers a definitive and wide-ranging overview of developments in behavioral finance over the past ten years. In 1993, the first volume provided the standard reference to this new approach in finance--an approach that, as editor Richard Thaler put it, "entertains the possibility that some of the agents in the economy behave less than fully rationally some of the time." Much has changed since then. Not least, the bursting of the Internet bubble and the subsequent market decline further demonstrated (...) that financial markets often fail to behave as they would if trading were truly dominated by the fully rational investors who populate financial theories. Behavioral finance has made an indelible mark on areas from asset pricing to individual investor behavior to corporate finance, and continues to see exciting empirical and theoretical advances. Advances in Behavioral Finance, Volume II constitutes the essential new resource in the field. It presents twenty recent papers by leading specialists that illustrate the abiding power of behavioral finance--of how specific departures from fully rational decision making by individual market agents can provide explanations of otherwise puzzling market phenomena. As with the first volume, it reaches beyond the world of finance to suggest, powerfully, the importance of pursuing behavioral approaches to other areas of economic life. The contributors are Brad M. Barber, Nicholas Barberis, Shlomo Benartzi, John Y. Campbell, Emil M. Dabora, Daniel Kent, François Degeorge, Kenneth A. Froot, J. B. Heaton, David Hirshleifer, Harrison Hong, Ming Huang, Narasimhan Jegadeesh, Josef Lakonishok, Owen A. Lamont, Roni Michaely, Terrance Odean, Jayendu Patel, Tano Santos, Andrei Shleifer, Robert J. Shiller, Jeremy C. Stein, Avanidhar Subrahmanyam, Richard H. Thaler, Sheridan Titman, Robert W. Vishny, Kent L. Womack, and Richard Zeckhauser. (shrink)

- Poétique et Études littéraires – GALERIE – Nouvel article.

The authors use empirical research into the environmental practices of 31 manufacturing small and medium-sized enterprises (SMEs) to show that ‚business performance’ and ‚regulation’ considerations drive behaviour. They suggest that this is inevitable, given the market-based decision-making frames that permeate and dominate the industry in which manufacturing SMEs operate. Since the environment is a pillar of corporate social responsibility (CSR), the findings have important implications for CSR policy, which promotes voluntary actions predicated on a business case. It is argued that (...) this approach will not alter the behaviour of manufacturing SMEs significantly because CSR practice will be regarded as an optional and costly ‚extra’ affecting core business activity. Consequently, the use and development of existing regulatory structures, providing minimum standards for many activities covered by CSR, remains the most effective means through which the behaviour of manufacturing SMEs will be changed in the short to medium-term. Another feature of the paper is the distinction made between ‚business performance’ and the ‚business case’ argument. Business performance emphasises cost reductions and efficiency whereas the business case accentuates the benefits to shareholders of good practices as their firms become more attractive to stakeholders and society. Manufacturing SMEs␣try to improve business performance because of the pressures placed on them by market-dominated decision-making frames. These frames do not encourage manufacturing SMEs to undertake voluntary actions for the benefit of wider stakeholders and society. (shrink)

David Hume (1711-76) is the grand intellectual figure of the Scottish Enlightenment. Ironically, what is now considered his magnum opus, the ill-received three-volume A Treatise of Human Nature (1739-40), was rejected by Hume himself by 1751. Subsequently, when Hume first compiled his Essays and Treatises on Several Subjects two years later, he excluded the Treatise and considered this new collection of essays to be his complete philosophical writings. Hume revised the Essays and Treatises some ten times in various editions, (...) adding, modifying and deleting material. This 1777 edition incorporates his final changes which he made quite literally on his deathbed, fully aware that this edition would be the last to involve his input. As such it is considered the definitive edition of Hume's philosophical writings and should be read alongside the first definitive edition of the Treatise. (shrink)

Barry Maguire argues that there are no reasons for affective attitudes. ‘There is no reason for your incredulous reaction to’ this thesis, he claims. In this paper, I argue that we have no reason to accept his thesis. I first examine Maguire's purported differences between reasons for action and so-called reasons for affective attitudes. In each case, I argue that the differences are exaggerated and that to the extent they obtain, they are best explained by differences between actions and affective (...) attitudes, not between kinds of normative support. In closing, I argue that even if Maguire were correct, the extent of the threat to one of his central targets—so-called ‘buck-passing’ views—would remain unclear. (shrink)

One. Hundred. Years. of. Homosexuality. I. In 1992, when the patriots among us will be celebrating the fivehundredth anniversary of the discovery of America by Christopher Columbus, our cultural historians may wish to mark the centenary of  ...

Philosophy and anthropology need to integrate their accounts of what a morality is. I identify three desiderata that an account of morality should satisfy: (1) it should recognize significant diversity and variation in the major kinds of value, (2) it should specify a set of criteria for what counts as a morality, and (3) it should indicate the basis for distinguishing between more or less justifiable moralities, or true and false moralities. I will discuss why these three desiderata are hard (...) to satisfy at the same time, and why they are controversial. Anthropologists and philosophers will differ on which ones they are inclined to reject. I argue that all three should be accepted and can be satisfied. (shrink)

In the eyes of many “classical” phenomenologists, Kantianism has seemed to invite individuals to leave the rich, complexly motivated environment of lived experience in favor of a shadowy, formal kingdom of abstract duties and rights. Yet there have been notable attempts within the phenomenological tradition to articulate a richer vision of Kantian moral consciousness and to exhibit, from a first-person perspective, the shape of mental life and the standing dispositions that befit membership in a Kantian kingdom of ends. Here I (...) offer two such competing paradigms of Kantian moral consciousness: on the one hand, the responsive, situational Kantian moral consciousness that recent commentators have reconstructed from Martin Heidegger’s work, and on the other hand, the very different, explicitly cosmopolitan Kantian moral consciousness traced in Hannah Arendt’s conception of an “enlarged mentality.” While each is arguably a legitimately Kantian view, these alternative models of moral consciousness offer considerably different spirits of Kantianism with different benefits and detriments, and each places very different cognitive and moral burdens on agents. (shrink)

There are many ways the world might be, for all I know. For all I know, it might be that there is life on Jupiter, and it might be that there is not. It might be that Australia will win the next Ashes series, and it might be that they will not. It might be that my great-grandfather was my great-grandmother’s second cousin, and it might be that he was not. It might be that copper is a compound, and it (...) might be that it is not. (shrink)

I develop an account of how mathematized theories in physics represent physical systems, in response to the frequent claim that any such account must presuppose a non-mathematized, and usually linguistic, description of the system represented. The account I develop contains a circularity, in that representation is a mathematical relation between the models of a theory and the system as represented by some other model --- but I argue that this circularity is not vicious, in any case refers in linguistic accounts (...) of meaning and representation, and is simply a consequence of the fact that we have no unmediated, representation-independent access to the world. (shrink)

Fragments of Modernity provides a critical introduction to the work of three of the most original German thinkers of the early 20th century. In their different ways, all three illuminated the experience of the modern in urban life, whether in mid-19th-century Paris or in Berlin at the turn of the century or later as the vanguard city of the Weimar Republic. They related the new modes of experiencing the world to the maturation of the money economy (Simmel), the process of (...) rationalization of capital (Kracauer), and the fantasy world of commodity fetishism (Benjamin) - in each case focusing on those fragments of social experience that could best capture the sense of modernity.David Frisby is Reader in Sociology at Glasgow University. Fragments of Modernity is included in the series Studies in Contemporary German Social Thought, edited by Thomas McCarthy. (shrink)

Nothing can kill a promising research program in ethics more quickly than a plausible argument to the effect that it is committed to a morally repellent consequence. It is especially troubling when a theory one favors is jeopardized in this way. I have this worry about Harry Frankfurt's theory of free will, autonomous agency and moral responsibility, for there is a very plausible argument to the effect that aspects of his view commit him to a version of the late Stoic (...) thesis that acting freely is a matter of ‘making do,’ that is, of bringing oneself to be motivated to act in accordance with the feasible, so that personal liberation can be achieved by resigning and adapting oneself to necessity. In this paper I try to determine whether the theory does in fact commit Frankfurt (and adherents like me) to this result and, if so, what can be done to prevent it. (shrink)

The question whether two things can be in the same place at the same time is an ambiguous one. At least three distinct questions could be meant: Can two things simpliciter be in the same place at the same time? Can two things of the same kind be in the same place at the same time? Can two substances of the same kind be in the same place at the same time? The answers to these questions vary. In what follows, (...) all three will be discussed in the light both of recent and of classic earlier examinations of the matter. The following theses will be defended. (shrink)

There are many people who think that deconstruction has run its course, has had its day, and that it is now time to return to the important business of philosophy, or perhaps to serious ethical, social and political questions. Derrida's work, it is said, leads nowhere but a sterile philosophy of difference that in its de-politicized, de-historicized abstractness is a form of conservatism little better than the kinds of identity thinking to which it seems to be so radically opposed. In (...) short, we must go ‘beyond’ deconstruction. (shrink)

According to a widespread contention, individuals are among the basic building blocks of the world. The contention, however, raises a perennial problem. If individuals are basic, they cannot be fully accounted for in terms of their empirically detectable qualities. But then, how can we detect, or know, or identify, individuals? Shamik Dasgupta has influentially argued that considerations along these lines, together with a lesson from the history of physics, should make us reject any picture on which individuals are basic constituents (...) of reality. In this paper, I defend such a picture against Dasgupta’s argument. (shrink)

In the 1990s, Russia and Argentina both tied their currencies to the dollar to combat inflation. They later devalued under pressure, but only after an extremely costly delay, and only after an explosive spread of monetary surrogates substituting for official currency. This article explains these puzzling developments using an institutional-sociological approach to money, which relates exchange-rate preferences to financial context rather than sectoral position, as is common. It proposes a “lock-in” mechanism explaining delayed devaluation in both cases, as well as (...) Argentina’s greater delay, and explores the linkages between exchange-rate policy and the origins of monetary surrogates. (shrink)

According to a certain conception of language, any sentence can, when used on an occasion, have any of indefinitely many truth-conditions. Such a conception of language gives us reason to think that the question of whether the notion of truth has a distinctive content cannot be settled by looking solely at the predication of truth. By focusing on the predicate ‘true’ when trying to determine the significance of the notion of truth, we may have been looking in the wrong place.

In its many interwoven traditions, continental philosophy has a distinctive focus on what escapes the concept—experience, change, agency, responsibility, the future, the Other. The challenges that face us in the future are many: reaffirming and renewing what has already been thought and needs repeating, responding to emergent questions. None could be more urgent than the question of the animal and the fate of the planet. Addressing each of these requires that we suspend our normal conceptual assurances and think anew.

A real but typical case of identity fraud is used to open up the complex web of identification systems in Brazil. It is argued that identification has two poles related to the nature of citizenship—repression and inclusion—and that reactions from citizens to new identification schemes can be attributed to how they view the purpose of the cards in these terms. In Brazil, a sense of inclusion and citizenship based on a fear of anonymity and exclusion predominates leading to widespread support (...) amongst even critics of state activities. However, this may be undermined by the lack of state preparation for an information society, particularly the absence of meaningful data protection laws. (shrink)