Business cycle theory is a broad and disparate field. Different schools of thought offer alternative explanations for cycles, often using different mathematical methods. This book provides academics and graduate students of economics with a compact and accessible exposition of business cycle theory since Keynes. The author places the main theories -- Keynesian economics, monetarism, new classical economics, the real business cycles theory, and new Keynesian economics -- in an historical context by presenting them in the chronological order of their appearance (...) and highlighting their differences and commonalities. He minimizes the necessary mathematical prerequisites by using a unifying mathematical approach: stochastic second-order difference equations, which is explained in detail. Throughout the book, the international dimension of business cycles is acknowledged. The theoretical results obtained are set alongside empirical facts in separate boxes. Each chapter finishes with a set of problems designed to deepen the reader's understanding of the theories presented, and further reading sections which provide access to related material. (shrink)

Libertarian theories of the normative core of the corporation hold in common the view that is the responsibility of publicity held corporations to return profits to shareholders within the bounds of certain moral side-constraints. Side-constraints may be either weak (grounded in the rules of the game) or strong (grounded in rights). This essay considers libertarian arguments regarding the normative core of the corporation in the context of global capitalism and in the light of actual corporate behavior. First, it is argued (...) the weak side-constraints view is conceptually incoherent when applied in a global context. Second, it is argued that proponents of the libertarian strong side-constraints view lack an adequate theory of rights. Third, both the weak side-constraints view and the strong side-constraints view are shown to be unsatisfactory insofar as they fail to adequately address the coercive power of corporations. The main conclusion of this essay is that a viable libertarian theory of the corporation has yet to be articulated. (shrink)

This article applies the Kantian doctrine of respect for persons to the problem of sweatshops. We argue that multinational enterprises are properly regarded as responsible for the practices of their subcontractors and suppliers. We then argue that multinationalenterprises have the following duties in their off-shore manufacturing facilities: to ensure that local labor laws are followed; to refrain from coercion; to meet minimum safety standards; and to provide a living wage for employees. Finally, we consider and reply to the objection that (...) improving health and safety conditions and providing a living wage will cause greater harm than good. (shrink)

Sir Karl Popper is well known for explicating science in falsificationist terms, for which his degree of corroboration formalism, C(h,e,b), has become little more than a symbol. For example, de Queiroz and Poe in this issue argue that C(h,e,b) reduces to a single relative (conditional) probability, p(e,hb), the likelihood of evidence e, given both hypothesis h and background knowledge b, and in reaching that conclusion, without stating or expressing it, they render Popper a verificationist. The contradiction they impose is easily (...) explained--de Queiroz and Poe fail to take account of the fact that Popper derived C(h,e,b) from absolute (logical) probability and severity of test, S(e,h,b), where critical evidence, p(e,b), is fundamental. Thus, de Queiroz and Poe's conjecture that p(e,hb) = C(h,e,b) is refuted. Falsificationism, not verificationism, remains a fair description of the parsimony method of inference used in phylogenetic systematics, not withstanding de Queiroz and Poe's mistaken understanding that "statistical" probability justifies that method. Although de Queiroz and Poe assert that maximum likelihood has the power "to explain data", they do not successfully demonstrate how causal explanation is achieved or what it is that is being explained. This is not surprising, bearing in mind that what is assumed about character evolution in the accompanying likelihood model M cannot then be explained by the results of a maximum likelihood analysis. (shrink)

Experience with electronic communication in ethics committees at two hospitals is reviewed and discussed. A listserver of ethics committee members transmitted a synopsis of the ethics consultation shortly after the consultation was initiated. Committee comments were sometimes incorporated into the recommendations. This input proved to be most useful in unusual cases where additional, diverse inputs were informative. Efforts to ensure confidentiality are vital to this approach. They include not naming the patient in the e-mail, requiring a password for access to (...) the listserver, and possibly encryption. How this electronic communication process alters group interactions in ethics committees is a fruitful area for future investigation. (shrink)

ABSTRACT:In a series of reports the United Nations Special Representative on the issue of Human Rights and Transnational Corporations has emphasized a tripartite framework regarding business and human rights that includes the state “duty to protect,” the TNC “responsibility to respect,” and “appropriate remedies” for human rights violations. This article examines the recent history of UN initiatives regarding business and human rights and places the tripartite framework in historical context. Three approaches to human rights are distinguished: moral, political, and legal. (...) It is argued that the tripartite framework’s grounding of the responsibility of TNCs to respect human rights is properly understood as moral and not merely as a political or legal duty. A moral account of the duty of TNCs to respect basic human rights is defended and contrasted with a merely strategic approach. The main conclusion of the article is that only a moral account of the basic human rights duties of TNCs provides a sufficiently deep justification of “the corporate responsibility to respect human rights” feature of the tripartite framework. (shrink)

ABSTRACT:Little theoretical attention has been paid to the question of what obligations corporations and other business enterprises have to the four billion people living at the base of the global economic pyramid. This article makes several theoretical contributions to this topic. First, it is argued that corporations are properly understood as agents of global justice. Second, the legitimacy of global governance institutions and the legitimacy of corporations and other business enterprises are distinguished. Third, it is argued that a deliberative democracy (...) model of corporate legitimacy defended by theorists of political CSR is unsatisfactory. Fourth, it is argued that a Rawlsian theoretical framework fails to provide a satisfactory account of the obligations of corporations regarding global justice. Finally, an ethical conception of CSR grounded in an appropriately modest set of duties tied to corporate relationships is then defended. This position is cosmopolitan in scope and grounded in overlapping arguments for human rights. (shrink)

In this dissertation I develop a general theory of coercion that allows one to distinguish cases of interpersonal coercion from cases of persuasion or manipulation, and cases of institutional coercion from cases of oppression. The general theory of coercion that I develop includes as one component a theory of second-order coercion. Second-order coercion takes place whenever one person intentionally impairs the formation of the second-order desires of another person, or constrains them after their formation, in a way that frustrates or (...) eliminates the possibility of the victim fulfilling certain of his or her first-order desires. The concept of second-order coercion is important because it suggests that a person's autonomy may be violated in ways that have not been previously recognized. In this dissertation I argue that the unique feature of all cases of coercion is that the alternatives available to the victim, with regard to the formation of his or her will, are intentionally constrained by another person in a way that violates the victim's autonomy. A general theory of coercion should be able to explain how institutions may be understood as coercive. I argue that if institutions are understood as social practices maintained for the purpose of achieving some end, then they may be properly understood as capable of coercion. ;This theory of coercion allows me to make two arguments concerning moral responsibility. First, I argue that current discussions of moral responsibility are inadequate because they fail to take seriously the claim that a person may be responsible, at least in part, for having the beliefs and desires that make a particular action a case of coercion. Second, I argue that discussions of moral responsibility are inadequate because they fail to recognize that an agent may not be responsible for the state of his or her will because he or she may have been coerced in a way that has not been previously recognized. (shrink)

The primary concern of this paper is Hume's account of the moral difference between humans and other animals. In order to clarify this difference Hume's views regarding reason, sympathy, and human sentiment are examined. The purpose of this investigation is threefold. First, Hume's position on the moral difference between humans and other animals is clarified. It is argued that this difference is properly traced to Hume's account of the sentiment of humanity. Second, Hume is defended against the claim that his (...) position on this matter is inconsistent. Third, it is argued that Hume's theory of morality leaves open the possibility that some earthly species other than our own may be properly understood as moral. (shrink)

We review recent developments in ethical pluralism, ethical particularism, Kantian intuitionism, rights theory, and climate change ethics, and show the relevance of these developments in ethical theory to contemporary business ethics. This paper explains why pluralists think that ethical decisions should be guided by multiple standards and why particularists emphasize the crucial role of context in determining sound moral judgments. We explain why Kantian intuitionism emphasizes the discerning power of intuitive reason and seek to integrate that with the comprehensiveness of (...) Kant’s moral framework. And we show how human rights can be grounded in human agency, and explain the connections between human rights and climate change. (shrink)

Even if we recognize that the delta-lognormal model provides an excellent fit to a large variety of data, the question remains as to what we actually learn from such a model, which could be seen as merely another multiparameter account? Do we welcome such an encompassing account, or do we expect to learn more from the limitations that become apparent when applying dedicated models addressing specific classes of movements?

Global climate change is one of the most daunting ethical and political challenges confronting humanity in the twenty-first century. The intergenerational and transnational ethical issues raised by climate change have been the focus of a significant body of scholarship. In this new collection of essays, leading scholars engage and respond to first-generation scholarship and argue for new ways of thinking about our ethical obligations to present and future generations. Topics addressed in these essays include moral accountability for energy consumption and (...) emissions, egalitarian and libertarian perspectives on mitigation, justice in relation to cap and trade schemes, the ethics of adaptation and the ethical dimensions of the impact of climate change on nature. (shrink)

Care has increasingly been promoted as an element of successful management practice. However, an ethic of care is a normative theory that was initially developed in reference to intimate relationships, and it is unclear if it is an appropriate normative standard in business. The purpose of this review is to bridge the social scientific study of care with philosophical understandings of care and to provide a theoretical justification for care as a managerial value. We review the three different forms of (...) care advanced by the ethics literature: caring relations, organizational care, and care as a virtue. We compare these forms of care to the management litertature. In doing so, we integrate what has previously been a scattered, yet growing, body of research on care. Our review of the literature reveals that care has increasingly been studied in management in relation to an ethic of care. Yet, many of the properties of care have also played a role in other established research domains (e.g., leadership). We discuss and critique the management and ethics literatures on care, paying attention to areas of agreement or disagreeement between the two. We go on to provide a normative justification of care as a value in business. Finally, we close by suggesting directions for future research. (shrink)

The species category is defined as thesmallest historical individual within which there is a parental pattern of ancestry and descent. The use of historical individual in this definition is consistent with the prevailing notion that speciesper se are not involved in processes — they are effects, not effectors. Reproductive isolation distinguishes biparental historical species from their parts, and it provides a basis for understanding the nature of the evidence used to discover historical individuals.

After providing a brief history of global climate change, we consider and reject the influential position that free markets and responsive democracies relieve corporations of obligations to protect the environment. Five main objections to the free market view are presented, focusing in particular on the roles of business organizations in the transportation and electricity generation sectors. Ethically grounded management and public policy recommendations are offered.

Newborn screening programmes began in the 1960s, have traditionally been conducted without parental permission and have grown dramatically in the last decade. Whether these programmes serve patients’ best interests has recently become a point of controversy. Privacy advocates, concerned that newborn screening infringes upon individual liberties, are demanding fundamental changes to these programmes. These include parental permission and limiting the research on the blood samples obtained, an agenda at odds with the viewpoints of newborn screening advocates. This essay presents the (...) history of newborn screening in the USA, with attention to factors that have contributed to concerns about these programmes. The essay suggests that the rapid increase in the number of disorders screened for and the addition of research without either public knowledge or informed consent were critical to the development of resistance to mandatory newborn screening and research. Future newborn screening initiatives should include public education and comment to ensure continued support. (shrink)

"The largest Ebola outbreak to date—first detected in December 2013 and still ongoing as of April 2015—has cast new light on the shortfalls of international public health systems.1 As in previous health crises, scrutiny has reemerged over the pharmaceutical industry’s ability and willingness to innovate new medicines for underserved disease areas. The public debate has intensified following revelations that promising drug candidates to treat Ebola had gone undeveloped despite compelling preclinical results.2 This lack of development is especially troubling because it (...) occurred after a recently implemented U.S. incentive scheme—the Food and Drug Administration’s (FDA) tropical disease priority review voucher program—designed to counteract exactly this problem. Taking Ebola as a case in point, it is useful to examine the short history and ongoing refinement of this voucher program, since it represents one of the most significant legislative efforts to systematically address the relative absence of com- mercial rewards for drugs targeting tropical diseases. This analysis evaluates the voucher program’s effectiveness for both stimulating private sector innovation and achieving positive health impacts among populations most severely burdened by tropical diseases. It then proposes specific recommendations for how law- makers can improve the program’s legislation to better achieve these objectives. ". (shrink)