In order to evidence how and how much the local community influences the integration and socio-economical habits of female immigrants, we interviewed a sample of Albanian women who came to Italy during the immigration fluxes occurred between March and August 1991.Beside the routine anagraphical information, we tried to evaluate the reason of choice and the degree of integration with the local population and the family traumas that this immigration caused.

Economists reason causally. Like many other scientists, they aim at formulating justified causal claims about their object of study. This thesis contributes to our understanding of how causal reasoning proceeds in economics. By using the research on the causes of unemployment as a case study, three questions are adressed. What are the meanings of causal claims? How can a causal claim be adequately supported by evidence? How are causal beliefs affected by incoming facts? In the process of answering these (...) semantic, epistemic and dynamical questions, the richness of causal reasoning in economics is brought to the foreground. In the part on semantics, it is argued that the meaning of causal generalizations in policy-oriented economics is best captured by using the concept of ‘inferential relation’ rather than the one of ‘referential relation’. This part contributes to develop an inferentialist semantics by distinguishing among types of inferential relations. In the part on epistemology, it is argued that justification in sciences like economics often relies, and ought to rely, on evidential variety―i.e. the combination of evidence from multiple sources. An interpretation of independence among evidential sources is offered: two evidential sources are fully independent if and only if the reasons why they would be unreliable do not overlap. It is then shown that the variety-of-evidence thesis does not hold under extreme circumstances. The part on dynamics focuses on deviant-case study. A storyline is provided for what deviant-case study aims at and how it proceeds in what is characterized as an ‘eclectic science’. (shrink)

This book concentrates upon how economic rationalities have been embedded into particular historical practices, cultures, and moral systems. Through multiple case-studies, situated in different historical contexts of the modern West, the book shows that the development of economic rationalities takes place in the meeting with other regimes of thought, values, and moral discourses. The book offers new and refreshing insights, ranging from the development of early economic thinking to economic aspects and concepts in the works (...) of classical thinkers such as Thomas Hobbes, John Locke and Karl Marx, to the role of economic reasoning in contemporary policies of art and health care. With economic rationalities as the read thread, the reader is offered a unique chance of historical self-awareness and recollection of how economic rationality became the powerful ideological and moral force that it is today. (shrink)

Much work in economics, the social sciences, and elsewhere takes as it starting oint a somewhat unrealistic conception of rationality- a conception that ignores or downplays both the temporal and the situated aspects of human reason. Biological reason, I shall argue, is better concieved as an iterated process of adaptive response made under extreme time pressure and exquisitely keyed to a variety of external structures and circumstances.

Many participants in the debate over the current state and recent developments of economics make claims that are unrefined, simplistic, often exaggerated. This is understandable: the stakes are high, the issues trigger emotional responses, and few participants are motivated or equipped to seek more nuanced analyses. To assert, or to deny, that economics as a scientific discipline or a particular part of it (such as a model) is about reality – or refers to reality, represents it, is true about it, (...) or is truthlike about it – is to make a very complex and highly ambiguous claim. 1 The disputants often make claims that have parallels in the philosophical controversy between scientific realists and their opponents, or at any rate those claims can be partly analyzed in terms of some of the arguments presented in this philosophical controversy. The question addressed here is whether realism about economics is a viable position. The argument proceeds by way of refuting a number of arguments against realism about economics. I suggest a genuine controversy over the factuality of any particular strand or piece of economics requires realism as a general interpretation of economics – or at any rate requires debunking the anti-realist arguments discussed below. “The issue of realism” as most economists would recognize it, is not exactly the issue of realism as philosophers recognize it. “The issue of realism” in economics is about realisticness as a property of theories , while (part of) the issue of realism in philosophy is about realism as a theory of theories . But some parts of the issue of realisticness (such as those related to reference and truth) in economics can be translated into aspects of the issue of realism as a theory of theories. Thus there is also an issue of realism (with no quotation marks) in economics. It is this issue of realism that has to be settled as a prerequisite for critical assessments of important forms of realisticness of economic theories. (shrink)

The article is built around the analysis of The critique of instrumental reason by Horkheimer, applied to issues connected with the philosophy of economics. Positive economics is under-stood as an example of a discipline where the pragmatic paradigm has been implemented. Therefore, economics functions within the boundaries of what Horkheimer called instrumental rationality. The starting point is the intellectual source shared by economics and the Frankfurt School, namely Kant’s philosophy of rationality. In the first part of the article, three (...) of Kant’s ideas that are fundamental to economics are presented, and then the development of their application in philosophy of science, as seen by Horkheimer in 1947, is laid out. The second part of the article consists of enumerating various distinctive features of economics that set it apart from other social sciences and which constitute factors for which it can be considered a realm of the reign of ‘instrumental rationality’, with all the threats such an approach provokes. The above-mentioned features concentrate on treating humans in economics as a means, not as a goal. This aspect of the philosophy of science of the Frankfurt School (unlike its critique of capitalism as an economic system) has not been widely received. (shrink)

A renewed concern with Aristotle’s thought about the economic aspects of human life and society can be observed. Aristotle dealt with the economic issues in his practical philosophy. He thus considered ‘the economic’ within an ethical and political frame. This vision is coherent with a specific ontology of ‘the economic’ according to Aristotle. In a recent paper, I analysed this ontology and left its consequences, especially for Ethics and Politics, for another paper. In this article, (...) I firstly summarise the reasoning and conclusions of the aforementioned paper. Then, I extract the ethical and political “lessons” of the Aristotelian conception. I finally add a section with epistemological “lessons”, and consequences for the teaching of Economics. (shrink)

The primary aim of the text is to introduce the reader to the relationship between economics and ethics and to the application of economic ethics in the evaluation of the market. The reader will gain insight into: * The ethical and methodological strategy of economics and criticism of the core assumptions that underpin the economic defense of free market operation. * The characteristics of different ethical theories (utilitarianism, duty and rights ethics, justice and virtue ethics) that can be (...) used to evaluate the free market. * How to apply economics in conjunction with ethical theories to evaluate economic trends and policies that promote the free operation of the market and are subject to public debate. These insights will help to develop the reasoning and analytical skills needed to criticize economic analysis as well as to apply ethical concepts to moral issues in economic policy. (shrink)

Ancient Arabic literature dealt with linguistic sciences such as sarf, nahiw, belagha and Islamic sciences such as fıqh, hadith and tafsîr. This is known to the elite and the common people. But what is hidden and forgotten is that Arabic literature also includes the foundations and rules of modern sciences such as sociology and economics. Among the ancient Arabic literature is the writing of Maqamat, which holds an important position among the masterpieces of Arabic literature. For this reason, it (...) is important to study the writing of Maqamat from the perspective of the various disciplines of Islamic sciences and modern sciences. This study deals with fıqh and economic issues within the framework of Al-Hariri’s famous book, Maqamat. The aim of the study is to reveal the fıqh and economic aspects of Makamat writing through Hariri's Makamat as an exemplary study. The approach followed by the study is to select three maqama from Al-Hariri’s book, which contained fifty complete maqama, and to search for what is in them of fıqh and economics. Accordingly, the study includes three main headings, and in these three headings, fıqh, farâid (inheritance law) and economic issues are discussed, respectively. Although the science of farâid (inheritance law) is a branch of fıqh, it is singled out for mention independently because it has its own rulings. The study examined the jurisprudential aspect of the Maqamat in the thirty-second maqama called “the Tayyibi Maqamat,” the aspect related to the science of farâid in the fifteenth maqama called “the Faradiya Maqamat,” and the economic aspect in the forty-ninth maqama called “the Sassanid Maqamat.” The method followed by Hariri in her book is to present the issues in the form of stories through two fictional characters, Haris bin Hammam and Abu Zayd, whom she chose as mirrors reflecting the two opposing identities of the society. Abu Zaid appears in different forms and in various clothes. He sometimes appears as a beggar who deceives and a thief who betrays, and at other times as a preacher who advises and a scholar who guides. Rather, he is an imaginary character that Hariri put in place. Wherever he went, he met Al-Harith bin Hammam and the strange and adventurous incident begins, or he appears as a person from whom Al-Harith narrated the incident and the story. Harith is the person who always warns his against bad things, orders his to do good, and sometimes condemns his if he does evil. The results obtained in the study are, first of all, the determination that the Makâmât writing deals with the subjects of the science of fiqh as in the thirty-second makama and the subjects of the science of farâid (inheritance law) as in the fifteenth makama and the subjects of economics as in the forty-ninth makama. It is seen that some of the principles put forward by Adam Smith years later were also present in the Maqamat literature centuries ago. The fact that fiqh views are according to the Shafi'i sect shows that the Shafi'i sect was widespread in the region at that time. Additionally, as can be understood from the forty-ninth makama, there is also a profession of begging in the society where Hariri lives. The study also reveals the society's interest in, submission to, and acceptance of moral principles at that time, and shows that the Arabic language reached its peak during this period. (shrink)

This article is an attempt to give arguments for bringing aesthetics back into praxis. Often aesthetics is understood as something coming out of individual designers' or architects' creative talents. We challenge such a view by introducing an understanding of aesthetics as an aspect of praxis. The article builds on observations of a design project for a community centre in a Danish village. We argue that aesthetics is a result of struggles by participants in praxis, where aesthetic, material, functional, ethical, political, (...) and economic aspects are formed by each other in a dialectic process. The struggles are found in the client's reasons for starting the process, in the design and construction process and the use of the results. This means that descriptions of the aesthetics of buildings should incorporate relevant discussions and struggles of the design, construction and use of the building. It also means that the key to a fruitful ongoing collaborative process producing good aesthetic comes from managing together the many aspects of praxis in an open way. (shrink)

This thesis studies some philosophical and ethical issues that economic design raises. Chapter 1 gives an overview of economic design and argues that a crossfertilisation between philosophy and economic design is possible and insightful for both sides. Chapter 2 examines the implications of mechanism design for theories of rationality. I show that non-classical theories, such as constrained maximization and team reasoning, are at odds with the constraint of incentive compatibility. This poses a problem for non-classical theories, which (...) proponents of these theories have not addressed to date. Chapter 3 proposes a general epistemology of economic engineering, which is motivated by a novel case study, viz. the reform of a matching market for medical practitioners. My account makes use of causal graphs to explain how models allow encoding counterfactual information about how market outcomes change if the design of the market changes. The second part of the thesis examines ethical issues. In Chapter 4, I apply tools from matching theory to gain insights into the distribution of refugees, such as among countries of the European Union. There is an ethical trade-off between the fairness of matchings and their efficiency, and I argue that in this context, fairness is the morally weightier criterion. Chapter 5 deals with the ethics of kidney exchange. Against critics, I give two arguments for the implementation of kidney exchange programmes. The first argument is that they are instrumental in meeting a moral obligation, namely to donate effectively. The second is that kidney exchange may increase the motivation for altruistic donations, because the donation of one kidney may trigger > 1 life savings. The final chapter identifies questions for future research and it closes with some thoughts about the future trajectory of economic design. (shrink)

The last financial crisis revealed a gap between business practice and ethics. In Value Economics, Griffiths and Lucas examine some of the reasons for this ethical gap and discuss the resulting loss of confidence in the financial system. One of the reasons has been hazy or inadequate thinking about how we value economic enterprises. With the close link between the creation of value and business ethics in mind, this book proposes that economic value should become the basic metric (...) for evaluating performance in the creation of value, and for establishing fair and reasonable standards for executive compensation. Value Economics considers a number of rational philosophical principles for business management, on which practical codes of business ethics can be based. As the creation of value has moral implications for economic justice, the book reaffirms the argument for economics as a moral science, and seeks, within the context of proposed changes in the regulation and control of financial services, to answer the following question: will things really change after the last financial crisis? (shrink)

This book argues that the science of reasoning will prove most useful if focused on studying what human reasoning does best - understanding people. Bonnefon argues that humanity's unique reasoning abilities developed in order to handle the complexities of cooperative social life. Accordingly, human beings became exquisite students of the minds of other people to predict the kind of decisions they make, and assess their character. In particular, this volume explores the inferences humans make about the moral character of others, (...) how they delude themselves about their own moral character, and the ways in which they can see through the delusions of others. In conclusion, the book considers how to leverage the power of human reasoning in order to sustain democratic life. This work will interest scholars and students working in fields including theory of mind, decision-making, moral cognition, critical thinking, experimental philosophy, and behavioural economics, as well as policy makers interested in how reasoning impacts our political understanding. (shrink)

This book challenges the hegemonic view that economic calculation represents the ultimate rationality. The West legitimises its global dominance by the claim to be a rational, democratic, science-based and progressive civilisation. Yet, over the past decades, the dogma of economic rationality has become an ideological black hole whose gravitational pull allows no public debate or policy to escape. Political leaders of all creeds are held in its orbit and public language is saturated by it. This dogma has pervaded (...) all spheres of life, ushering the age of post-rationality, especially in English speaking countries. The authors discuss several aspects of post-rational global capitalism still dominated by the Anglosphere: hyper-competition, hyper-consumption, inequality, volatile global financial markets, environmental degradation and the unforeseen effects of the internet-mediated communication revolution. The book concludes by discussing some utopian and dystopian future scenarios and asking whether the West can transcend its crisis of rationality. (shrink)

The technologies, markets, and administrations of today's knowledge society are in crisis. We face recurring disasters in every domain: climate change, energy shortages, economic meltdown. The system is broken, despite everything the technocrats claim to know about science, technology, and economics. These problems are exacerbated by the fact that today powerful technologies have unforeseen effects that disrupt everyday life; the new masters of technology are not restrained by the lessons of experience, and accelerate change to the point where society (...) is in constant turmoil. In Between Reason and Experience, leading philosopher of technology Andrew Feenberg makes a case for the interdependence of reason--scientific knowledge, technical rationality--and experience. Feenberg examines different aspects of the tangled relationship between technology and society from the perspective of critical theory of technology, an approach he has pioneered over the past twenty years. Feenberg points to two examples of democratic interventions into technology: the Internet and the environmental movement. He examines methodological applications of critical theory of technology to the case of the French Minitel computing network and to the relationship between national culture and technology in Japan. Finally, Feenberg considers the philosophies of technology of Heidegger, Habermas, Latour, and Marcuse. The gradual extension of democracy into the technical sphere, Feenberg argues, is one of the great political transformations of our time. (shrink)

In this book Keith Graham examines the philosophical assumptions behind the ideas of group membership and loyalty. Drawing out the significance of social context, he challenges individualist views by placing collectivities such as committees, classes or nations within the moral realm. He offers an understanding of the multiplicity of sources which vie for the attention of human beings as they decide how to act, and challenges the conventional division between self-interest and altruism. He also offers a systematic account of the (...) different ways in which individuals can identify with or distance themselves from the groups to which they belong. His study will be of interest to readers in a range of disciplines including philosophy, politics, sociology, law and economics. (shrink)

I am a behavioral economist, who is interested in both behavioral sciences and economic behavior. By the term “economic behavior” I refer to the calculative reasoned domain of economic analysis, whereas by “behavioral economics” I address aspects of human feelings, emotions and everything that is not captured by the “rational” paradigm. Evidently, erroneous calculations, as well as unhinged sentiments lead to economic losses, and every change in the economics of the world has both calculative and (...) behavioral sides to it. In what follows, we examine these two sides of behavior in relation to the COVID-19 pandemic by drawing on contemporaneous data, forecasts, and images. Each side of behavior reveals distinctive insights, and intriguingly, not all outcomes count as loss. As we face this crisis, there is a clear environmental gain that we would be smart to preserve post pandemic. (shrink)

As is well understood, the values inherent in the dominant neoclassical economic paradigm are self- interest and optimisation. These are the values that guide individuals and policymakers in advanced capitalist economies in their economic decision making. As a consequence, the economics discipline, arguably, is insufficiently oriented to helping people and organisations make wise choices, choices about what is really and truly in people's best interests. In other words, there is strong reason to believe that economics has a (...) wisdom deficit. This paper draws on great philosophers such as Aristotle to explain what wisdom is and why, although economics is concerned with the normative aspect of decision making, economics has too infrequently been used to help people or their societies make wise decisions. This paper is also concerned with how a society's economic decision-making processes can be improved in order that these processes incorporate a much greater dose of wisdom. One relevant question here is: can we learn with the help of philosophers, psychologists and organisation researchers how to make economic decisions that apply the practical wisdom that Aristotle advocated? This paper's overall purpose is first to point the way toward greater decision-making wisdom, and second to propose one method for improving the wisdom of important economic-related decision making. Hopefully, this paper will serve to put the issue of decision-making wisdom higher on the agenda of economists and, as a consequence, lead to wiser decisions in the economic sphere, thereby reducing the wisdom deficit. (shrink)

Building on a theory of human intelligence, this book explores the importance of - and limits of - cost/benefit calculus (safety first in hostile environment), on the evolution of economic activity and political discourse. Arguing that intelligence consists of wisdom, cost/benefit reasoning, and creative genius, the book explores the history of the world from hunting and gathering to modern times, drawing on art, literature and invention. It emphasizes ethics, expectations and the importance of historical experience in shaping the humanist (...) economics story. (shrink)

What are the reasons for theory change in economics? – The author tries to give a sober answer on the basis of his epistemological model reconstructing the internal aspects of theory change. It is conjectures that a more subtle approach including the external facets can be provided with the “communicative rationality” concept. Key words: economics, theory change, internalism, external factors .

Reasoning by default is a relevant aspect of everyday life that has traditionally attracted the attention of many fields of research, from psychology to the philosophy of logic, from economics to artificial intelligence. Also in the field of law, default reasoning is widely used by lawyers, judges and other legal decision-makers. In this paper, a philosopher of language (Carlo Penco) and a philosopher of law (Damiano Canale) attempt to explore some uses of default reasoning that are scarcely considered by legal (...) theory. In particular, the dialogue dwells on the notion of literal meaning, witness testimony, and the problem of disagreement among experts in legal proceedings. The paper is intended as a sort of brain storming useful to identify new lines of research straddling philosophy of law, cognitive psychology and philosophy of language. (shrink)

Rawls's theory of justice has played a prominent role in a number of academic fields beyond philosophy, and one of these is the field of economics. This chapter explains whether Rawls's corpus allows one to derive some conclusions about his own considered judgments of the justice and humanity of the institutions of democratic capitalism. It examines both aspects of this relationship between moral theory and economics. The chapter discovers the intellectual and theoretical relationships that existed between economic theory (...) and the formation and development of Rawls's thought. It looks at Rawls's major papers between 1955 and 1971 as a reasonable sample of the intellectual influences that affected the development of his thought and highlights that the most visible economic influences on Rawls fall in the field of modern economics. Other topics discussed include the decision theory, Rawls's critique of capitalism, and his relationship with Karl Marx. (shrink)

This article examines the nature of rationality. The domain of rationality is customarily divided into the theoretical and the practical. Whereas theoretical or epistemic rationality is concerned with what it is rational to believe, and sometimes with rational degrees of belief, practical rationality is concerned with what it is rational to do, or intend or desire to do. This article raises some of the main issues relevant to philosophical discussion of the nature of rationality. Discussions of the nature of practical (...) rationality and reason concern norms of choice, and it seems that if such norms are not arbitrary, arguments over what those norms are must ultimately be a theoretical matter. Furthermore, this article explores rationality's role in and relation to other domains of inquiry: psychology, gender, personhood, language, science, economics, law, and evolution. (shrink)

In today's post-pandemic reality, human capital plays one of the leading roles in ensuring economic growth. The intensification of innovative processes in the context of post-pandemic social constructivism, the widespread use of information technology, intellectualization of labor, etc. In the context of post-pandemic social constructivism, transformations of the content and structure of human capital take place, make adjustments to the process of its formation, accumulation, use and change the nature of the impact of human capital on economic development. (...) In today's post-pandemic reality, there are many problems both in the field of the formation of innovatively oriented human capital and in the sphere of its use, which necessitates the search for ways to effectively manage these processes in order to ensure the balanced development of production factors in the context of the formation of an innovative economy in the country. The article analyzes the main methods and aspects of cognitive psychology that can be useful in the development of human capital. In particular, special attention was paid to the development of emotional intelligence and emotional competence. The reason for choosing precisely such elements of cognitive psychology as the level of emotional intelligence and emotional competence is that they are a prerequisite for successful self-realization of a person and, as a result, an important prerequisite for successful management of human capital in the conditions of post-pandemic social constructivism. (shrink)

The theme of this issue of the St. Gallen Business Review is "Harmony". For this reason, we would like to discuss whether two aspects of our life- world are in harmony, namely economic optimization and morality. What is the relation between them? According to a widely shared view, which is one aspect of the doctrine of "mainstream economics", the functioning of an economic system does not require moral behaviour on the part of the individual economic (...) agent. In what follows, we will try to convince you that this is false. If all economic agents – managers, employees, bankers, consumers and so on – were purely self-interested, as mainstream economics assumes, our economic practice would fail. There are various reasons for this. Here we will focus on one of them, namely the pivotal role of interpersonal communication. (shrink)

This paper discusses the economic, legal, moral, and political difficulties in developing drugs for the developing world. It argues that large, global pharmaceutical companies have social responsibilities to the developing world, and that they may exercise these responsibilities by investing in research and development related to diseases that affect developing nations, offering discounts on drug prices, and initiating drug giveaways. However, these social responsibilities are not absolute requirements and may be balanced against other obligations and commitments in light of (...) economic, social, legal, political, and other conditions. How a company decides to exercise its social responsibilities to the developing world depends on the prospects for a reasonable profit and the prospects for a productive business environment. Developing nations can either help or hinder the pharmaceutical industry’s efforts to exercise social responsibility through various policies and practices. To insure that companies can make a reasonable profit, developing nations should honor pharmaceutical product patents and adhere to international intellectual property treaties, such as the Trade‐Related Aspects of Intellectual Property Rights agreement. To insure the companies have a good business environment, developing nations should try to promote the rule of law, ethical business practices, stable currencies, reliable banking systems, free and open markets, democracy, and other conditions conducive to business. Overall, this paper advocates for reciprocity and cooperation between pharmaceutical companies and developing nations to address the problem of developing drugs for the developing world. In pursuing this cooperative approach, developing nations may use a variety of other techniques to encourage pharmaceutical companies to act responsibly, such as subsidizing pharmaceutical research, helping to design and implement research protocols, providing a guaranteed market, and bulk buying. (shrink)

The so-called materialist conception of history is not only very popular in certain quarters, it is also embodied in much of the practice of historians. Yet, in spite of the current interest in philosophies of history, it is not often that one finds it seriously and critically discussed by philosophers, or indeed by anybody. One reason for this is, no doubt, that though claiming to be scientific it is closely connected with a militant political and economic creed. But (...) there are further and more honourable reasons, in the apparent comprehensiveness of the theory itself and in the lack of any comprehensive statement of it from its chief author. To some of its supporters it appears to be not merely a complete explanation of all history, past, present, and future, but also a psychology, a philosophy, and even a religion ; and yet Marx—who, if he did not originate it, is anyhow mainly responsible for its wide popularity—nowhere expounds it at any length, and for an adequate and authoritative discussion of it we must consult the correspondence of Engels, which is not gathered together in any one place. Thus, while opponents of materialism and determinism tend to reject or ignore a theory which is supposed to imply them both, opponents of Marxism are naturally unwilling to read through that author's very voluminous works for the purpose of reconstructing from his fragmentary remarks a theory that he nowhere fully states. (shrink)

_Tracing practical reason from its origins to its modern and contemporary permutations_ The Greek discovery of practical reason, as the skilled performance of strategic thinking in public and private affairs, was an intellectual breakthrough that remains both a feature of and a bug in our modern world. Countering arguments that rational choice-making is a contingent product of modernity, _The Greeks and the Rational_ traces the long history of theorizing rationality back to ancient Greece. In this book, Josiah Ober (...) explores how ancient Greek sophists, historians, and philosophers developed sophisticated and systematic ideas about practical reason. At the same time, they recognized its limits—that not every decision can be reduced to mechanistic calculations of optimal outcomes. Ober finds contemporary echoes of this tradition in the application of game theory to political science, economics, and business management. _The Greeks and the Rational_ offers a striking revisionist history with widespread implications for the study of ancient Greek civilization, the history of thought, and human rationality itself. (shrink)

What are the reasons for theory change in economics? – The author tries to give a sober answer on the basis of his epistemological model reconstructing the internal aspects of theory change. It is conjectures that a more subtle approach including the external facets can be provided with the “communicative rationality” concept. Key words: economics, theory change, internalism, external factors .

One of the important questions in the interpretation of Rawls’s philosophy is the connection between the two problems he wrote about throughout his life – justice and legitimacy. In this paper, I take the difference principle as a special feature of Rawls’s theory of justice, while I take the idea of the public reason as a special aspect of his theory of legitimacy, and I try to show that both aspects are connected, that is, that we should not (...) see them as two separate projects. I am trying to show that we should formulate the justification of the difference principle as a justification of a particular socio-economic arrangement rather than as an abstract principle, one that is better than other legitimate arrangements. For Rawls, property-owning democracy and liberal socialism are socio-economic arrangements that realize the difference principle. The main difference between the two systems is that in the first one, private ownership of the means of production is allowed, but it is widely dispersed. In this paper, I try to show how such a system can be publicly justified. The justification that we need to use is precisely the one that Rawls formulates through the idea of the public mind, by referring to the political values contained in our public political culture. (shrink)

The purpose of this book is to assess the merit of applying technical or economic rationality to social, legal and political problems. Diesing describes reason as calculation, discovery and application of rules to cases, and creative. Tentatively relating each type of rationality to one aspect of reason, he finally declares that creative reason "facilitates the study of social and political rationality, which are more difficult to characterize in terms of the other conceptions of reason."--C. E. (...) B. (shrink)

The tone of this paper is largely critical. Therefore, I would like to begin by praising Donald McCloskey and Arjo Klamer for their exciting and provocative initiative in the metatheory of economics. They have done us a great favor by opening our eyes to some hidden aspects in the intellectual practices of economists. They have shown that economics is rhetoric; it is persuasion, discourse, conversation, and negotiation, to use their favorite phrases. They have provided plausible arguments and illuminating examples (...) to convince us of the literary character of economic reasoning, notwithstanding the formal languages used by economists and the positivist pretensions typical of the self-image of the discipline. However, McCloskey and Klamer have been less successful in trying to convince us of what economics is not. In particular, it concerns me that they have opened up a gap between rhetoric and realism. They seem to think that because economics has a rhetorical character, it cannot be understood in realist terms. I will argue that this view is mistaken: rhetoric and realism do not exclude each other, but rather they are capable of being combined in a coherent methodology of economics. It is a valuable contribution to import the insights of the newly rehabilitated rhetoric to the metatheory of economics; but it is unnecessary to marry them with enthusiasm about the fashionable anti-realism of Richard Rorty and others. While this is my overall thesis, it is clear that only initial steps towards its substantiation can be taken in this paper. I intend to proceed as follows. I will first make an attempt to locate the problem at hand in the history of the metatheory of economics. Then I will point out those elements in rhetorical metatheory as practiced and defended by Klamer and McCloskey that apparently have anti-realist or non-realist assumptions or implications, either directly or via considerations of scientific rationality. Next I will formulate a few concepts of realism, the differences between which have been ignored in the methodology of economics to this day. Then I will make preliminary attempts to inquire into the mutual compatibility of the rhetorical insights provided by McCloskey and Klamer and realism in this context. I will show that, in principle, there should be no insurmountable obstacles to combining the two; in some of its senses, realism will even turn out to be presupposed by the rhetorical approach. I do not primarily intend to argue for realism as such in this paper. Instead, I will argue for the compatibility of realism and rhetoric. The argument is based on Klamer's and McCloskey's own commitments; in this sense, the argument is immanent to their rhetorical approach. As a final point, I will argue that one should not be indifferent about realism: it does make a difference in economics and in the methodology of economics whether rhetoric is accepted with or without realism. (shrink)

This collection of essays by Sheila Jasanoff explores how democratic governments construct public reason, that is, the forms of evidence and argument used in making state decisions accountable to citizens.

Zygmunt Bauman is not only a sociologist and philosopher reputable in the world of science, he is also a father figure for people interested in the phenomenon of globalization. Bauman investigates how current economic and political changes influence the lives of particular societies. It was important to underline that also economists can make use of Bauman’s ideas but with a few reservations That is why the following crucial areas were proposed relating to economic aspects: the meaning of (...) consumptionism and wastage; global inequalities; the reasons and consequences of the global economic crisis, and some heterodox matters such as happiness, welfare, and well-being, all of which can be helpful in understanding the multidimensional globalization process. (shrink)

How do we think about what we plan to do? One dominant answer is that we select the best possible option available. However, a growing number of philosophers would offer a different answer: since we are not equipped to maximize we often choose the next best alternative, one that is no more than satisfactory. This strategy choice is called satisficing. This collection of essays explores both these accounts of practical reason, examining the consequences for adopting one or the other (...) for moral theory in general and the theory of practical rationality in particular. It aims to address a constituency larger than contemporary moral philosophers and bring these questions to the attention of those interested in the applications of decision theory in economics, psychology and political science. (shrink)

The economic theory of the consumer, which assumes individual satisfaction as its goal and individual freedom to pursue satisfaction as its sine qua non, has become an important ideological element in political economy. Some have argued that the political dimension of economics has evolved into a kind of “secular theology” that legitimates free market capitalism, which has become a kind of “religion” in the United States [Nelson: 1991, Reaching for Heaven on Earth: The Theological Meaning of Economics. (Rowman & (...) Littlefield Publishers, Inc, Savage, Maryland); 2001, Economics as Religion: From Samuelson to Chicago and Beyond (The Pennsylvania State University Press, University Park, Pennsylvania); Thurow: 1983, Dangerous Currents: The State of Economics (Random House, New York); Milbank: 1990, Theology and Social Theory, Beyond Secular Reason (Basil Blackwell, Cambridge, Massachusetts)]. Consumer theory in its ideological form provides an important base for this religion and is no longer merely a positive framework for understanding consumer choice or estimating market demand. The paper explores the view of the human being, the “anthropology,” that is implicit in the economic theory of the consumer and compares its “theological” implications with the corresponding theological anthropologies in the Judaeo-Christian tradition. The paper outlines the assumptions of consumer theory and then focuses on three aspects of the theory from a critical theological perspective: the individual in community, property ownership, and human destiny (or “eschatology” in theological terminology). The principal conclusion is that consumer theory, viewed from this perspective, leads to a reductionist and existentially harmful view of human beings. The maximization of individual satisfaction raises genuine ethical issues when viewed as a political and religious value. The paper argues that the issues could be ameliorated if economists would include more explicit treatment of a social dimension and ethical alternatives in consumer theory and if theologians would give greater attention to economic theory. (shrink)

Modelling became one of the primary tools of economic research in the 20th century and economists understand their mathematical models as giving some kind of representation of the economic world, one adequate enough for the purpose of reasoning about that world. But when we look at examples of how non-analogical models were first built in economics, both the process of making representations and aspects of the representing relation remain opaque. Like early astronomers, economists have to imagine how (...) the hidden parts of their world are arranged and to make images, that is, create models, to represent how they work. The case of the Edgeworth Box, a widely used model in 20th century economics, provides a good example to explore the role of imagination and images in the process of making representations of the economy. (shrink)

The so-called materialist conception of history is not only very popular in certain quarters, it is also embodied in much of the practice of historians. Yet, in spite of the current interest in philosophies of history, it is not often that one finds it seriously and critically discussed by philosophers, or indeed by anybody. One reason for this is, no doubt, that though claiming to be scientific it is closely connected with a militant political and economic creed. But (...) there are further and more honourable reasons, in the apparent comprehensiveness of the theory itself and in the lack of any comprehensive statement of it from its chief author. To some of its supporters it appears to be not merely a complete explanation of all history, past, present, and future, but also a psychology, a philosophy, and even a religion ; and yet Marx—who, if he did not originate it, is anyhow mainly responsible for its wide popularity—nowhere expounds it at any length, and for an adequate and authoritative discussion of it we must consult the correspondence of Engels, which is not gathered together in any one place. Thus, while opponents of materialism and determinism tend to reject or ignore a theory which is supposed to imply them both, opponents of Marxism are naturally unwilling to read through that author's very voluminous works for the purpose of reconstructing from his fragmentary remarks a theory that he nowhere fully states. (shrink)

Hurley here revives a classical idea about rationality in a modern framework, by developing analogies between the structure of personality and the structure of society in the context of contemporary work in philosophy of mind, ethics, decision theory and social choice theory. The book examines the rationality of decisions and actions, and illustrates the continuity of philosophy of mind on the one hand, and ethics and jurisprudence on the other. A major thesis of the book is that arguments drawn from (...) the philosophy of mind may be used to undermine widely-held subjectivist positions in ethics and politico-economic theory. The work is inspired by the philosophies of Wittgenstein and Davidson, but goes on to connect their arguments about interpretation with formal work in decision theory and social choice theory, and with the theory of adjudication. (shrink)

For over a century the economics profession has extended its reach to encompass policy formation and institutional design while largely ignoring the ethical challenges that attend the profession's influence over the lives of others. Economists have proven to be disinterested in ethics. Embracing emotivism, they often treat ethics a matter of mere preference. Moreover, economists tend to be hostile to professional economic ethics, which they incorrectly equate with a code of conduct that would be at best ineffectual and at (...) worst disruptive to good economic practice. But good ethical reasoning is not reducible to mere tastes, and professional ethics is not reducible to a code. Instead, professional economic ethics refers to a new field of investigation-a tradition of sustained and lively inquiry into the irrepressible ethical entailments of academic and applied economic practice. The Oxford Handbook of Professional Economic Ethics explores a wide range of questions related to the nature of ethical economic practice and the content of professional economic ethics. It explores current thinking that has emerged in these areas while widening substantially the terrain of economic ethics. There has never been a volume that poses so directly and intensively the question of the need for and content of professional ethics for economics. The Handbook incorporates the work of leading scholars and practitioners, including academic economists from various theoretical traditions; applied economists, beyond academia, whose work has direct and immense social impact; and philosophers, professional ethicists, and others whose work has addressed the nature of "professionalism" and its implications for ethical practice. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:Kantian Ethics and Economics: Autonomy, Dignity, and CharacterIvan A. BoldyrevMark D. White. Kantian Ethics and Economics: Autonomy, Dignity, and Character. Stanford, CA: Stanford University Press, 2011. Pp. xi + 270. Cloth, $55.00.This remarkable book provides a new ethical perspective for economics based on Kantian ethics of autonomy and dignity. There are two main messages in it that I find particularly important. First, Mark White derives from Kant the (...) idea of irreducible moral principles that govern the behavior of economic agents independently of welfarist and, more generally, consequentialist concerns. These principles of duty and the “incomparable worth” (21) of human dignity, as well as justice or rights, may not be economically traded off against some other motivations; hence, they simply evade economic reasoning altogether.Second, White endorses a version of libertarian Kantianism that treats people as individuals in essence (“autonomous”) and social in orientation (respecting the rights and the choices of the others). In discussing individualism, White attacks the conventional wisdom of economics and claims that preferences alone do not account for the identity of individuals [End Page 298] in space and time, although their unique characters do. Persons should be given free choice (absent in deterministic rational-choice models) and hence responsibility for their choices that incorporates the social factors in decision-making. However, White never mentions the almost insurmountable difficulties associated with fleshing out the truly individual features of a given person. Although he allows for a person’s identity and character changing over time, he does not recognize that character itself is in many respects a social construction.White criticizes paternalistic economic policies that suggest manipulating choice environments in order to follow the “true” preferences of the individuals. Instead, real consent, as satisfying both relevant preferences and principles (e.g. rights and human dignity), is, in his view, the sole criterion for justifying particular policy measures—not Pareto-efficiency or Kaldor-Hicks compensation. Economists’ obsession with efficiency leading to the misconceived notions such as “efficient level of crime” or “manageable level of terrorism” is also severely criticized.For White, the most popular formalistic version of the categorical imperative is less important than the other two—prohibiting treating other people simply as means and instituting the “Kingdom of Ends.” Formalism is reserved merely for the negative evaluation of actions and providing strict perfect duties that give clear guidance concerning what should not be done. White’s “Kantian-economic” model of decision-making incorporates perfect duties as constraints, and imperfect (positive) duties as preferences. He also stresses that for Kant, duties derived from the imperative depend on empirical knowledge, the context of decision-making, and judgment as a unique personal interpretation of the moral law. He further emphasizes the intersubjective role of Kantian morality: moral law should be universalizable to all rational persons (the “Kingdom of Ends” formula of the imperative), whereas rationality means not just following the patterns of behavior developed in the preference-oriented choice model, but rather acting on one’s beliefs and desires or choosing not to follow them, thus exhibiting genuine autonomy.The new and important contribution to the discussion is an explicit treatment of will as an inner faculty that, together with judgment, constitutes a person’s character or “self,” and helps to overcome the mere inclination to follow duty. Will is the missing link between decision and action and should be “well-trained” for bringing about true morality.The book is clearly written, and the author has upheld the interdisciplinary appeal of the topic, demonstrating an outstanding knowledge of the vast literature on ethics (both Kantian and not) and economics. White’s emphasis on the irreducibility of moral principles is absolutely relevant for current economic and political debates. However, some reservations are in order.There is an ambiguity concerning the status of his analysis. If in its positive aspect White’s recommendations for economists is to accept the Kantian vision of morality, then almost no arguments are given for this, and his modifications of the standard choice model are introduced in an ad hoc manner, just to reconcile it with the Kantian framework. Are an individual’s decisions to act on principles and to overcome mere inclinations really... (shrink)

This paper critically evaluates two aspects of Maxime Lepoutre's important book, Democratic Speech in Divided Times. First, I examine Lepoutre's approach to the shared reasons constraint—the requirement to offer shared reasons within public deliberation—and the place of emotions in public discourse. I argue that he, and indeed all who adopt such a highly inclusivist approach, face a dilemma that pushes him either to apply the shared reasons constraint more widely than he desires or to abandon it completely. I chart (...) a course through this dilemma, but one that involves significant revisions to Lepoutre's position, particularly regarding the need for idealization. Second, I consider Lepoutre's use of the systemic approach to public discourse, which is central to many of his arguments, including his responses to critics of the discursive democratic ideal. Using his arguments regarding angry speech and dogmatic group cognition as illustrative, I highlight the somewhat speculative nature of these systemic arguments, which often rely on conjectures about how the system might operate, how its parts fit together, and how the system as a whole might attenuate seemingly problematic features of its component parts. This limits the ultimate persuasiveness of Lepoutre's responses to skepticism about democratic speech in our divided times. (shrink)

This article gives a brief overview of Rethinking the Good, whose impossibility arguments illuminate the difficulty of arriving at a coherent theory of the good. I show that an additive-aggregationistprinciple is plausible for some comparisons, while an anti- additive-aggregationistprinciple is plausible for others. Invoking SpectrumArguments, I show that these principles are incompatible with an empirical premise, and various Axioms of Transitivity. I argue that whether the “all-things-considered better than” relation is transitive is not a matter of language or logic, but (...) the nature of moral ideals. If an Internal Aspects View holds, then many standard assumptions about rationality follow, including the Axioms of Transitivity, but not if an Essentially Comparative View holds. Yet many important ideals are essentially comparative. My results have important implications for the normative significance of economics, and require substantial revision in our understanding of the good, moral ideals, and the nature of practical reasoning. (shrink)

This article discusses foundations and particularities of the complex approach to researches of processes and phenomena of reception of inogenetic cultural and religious elements. Based on the conception of "comprehending questioning", which, according to Martin Heidegger, is a "ground" for understanding, the author builds a methodologic scheme of the complex approach, which serves to provide a sufficient heuristical minimum in perception of referred subject of research by searching for the answers to the basic issues of scientific philosophical interest. Emphasizing the (...) role of the subject as an efficient cause in processes of cultural-religious syncretism the author focuses on importance of research of his intentions which is expressed verbally, graphically or actively. This task necessitates to differentiate exterior and interior aspects of process or phenomenon being studied. Representing a subjective world as an original place for implementation of syncretization the author gives reasons for expediency of the research of worldview paradigms and dominating idea of subject of reception using not only motivational-targeted analysis but also existential one. A complex research of subject's world relationship, his ontological, epistemological, axiological and praxeological affirmations and social, economic, political and cultural environment enhances the understanding of exogenous and endogenous factors which develop his extrinsic and intrinsic motivation. Based on the interpretation of cultural norms, principles and imperatives, various degrees of subjects' readiness to accomplish or maintain receptions of inogenic elements allow to identify an analytical category of subjective "bounds of inclusivity" and make it possible to develop three-part classification of receptions, highlighting its separational, alternation and fusional types. Taking into consideration that receptions often operate as no final goal but as an implementer of more extensive plans of achieving one or another goal, the author also offers to distinguish strategy and tactics of receptions. Therefore, a process of reception is presenting as consisting of a range of aspects or steps, the consideration of which constitutes the content of suggested methodological "algorithm" for researching the processes and phenomena of reception of inogenic cultural or religious elements within the framework of the complex approach to research. (shrink)

Are foundations of models of ambiguity-sensitive preferences too flawed to be usefully applied to economic models? Al-Najjar and Weinstein (2009) say such is indeed the case. In this paper, first, we point out that many of the key arguments by Al-Najjar and Weinstein do not apply to quite a few of the ambiguity preference models of more recent vintage, and therefore to that extent do not undermine the foundational aspects or applicability of ambiguity models in general. Second, we (...) argue the focus in that paper on Ellsberg examples is an overly narrow concern; the Ellsberg examples have their uses but they are not the best context to understand why reasonable real-world agents may find acting in an ambiguity-sensitive manner normatively or prescriptively appealing. Finally, normative considerations aside, we submit that Al-Najjar and Weinstein are unduly dismissive of the power of such preferences to provide illuminating positive analyses of economic phenomena. (shrink)

Economic value additions to knowledge and demand provide practical, embedded and extensible meaning to philosophizing cognitive systems. Evaluation of a cognitive system is an empirical matter. Thinking of science in terms of distributed cognition (interactionism) enlarges the domain of cognition. Anything that actually contributes to the specific quality of output of a cognitive system is part of the system in time and/or space. Cognitive science studies behaviour and knowledge structures of experts and categorized structures based on underlying structures. Knowledge (...) representation through understanding of ‘epistemic cultures’ is an evolutionary stage. But cognition goes beyond knowledge representation. Notwithstanding the importance of epistemology of phenomena, the practicability cum philosophical aspects of machine learning needs to be seen in dynamic behaviour in socio-economic-technical value additions if human machine interaction processes that are context specific are incorporated into strong artificial intelligent systems. Cognitive Science is also studied from both computational and biological angles. Evolution of interactive forms of reasoning through understanding of meta-language of computations or biological learning processes is possible. But the limitation of historical cultures predefines the role of interactive processes in user-networks beyond technology networks. Despite this limitation, inclusive development notions of a heterogeneous national society such as India or Europe can be tested and incorporated. (shrink)

David Lewis is widely regarded as the philosopher who introduced the concept of common knowledge. His account of common knowledge differs greatly from most later accounts in philosophy and economy, with the central notion of his theory being ‘having reason to believe’ rather than ‘knowledge’. Unfortunately, Lewis’s account is rather informal, and the argument has a few gaps. This paper assesses two major attempts to formalise Lewis’s account and argues that these formalisations are missing a crucial aspect of this (...) account. Therefore, a new reconstruction is proposed, which explicitly discusses ‘reasons’ and uses a logic inspired by justification logic. (shrink)

This volume explores the concept of the honest merchant, taking a broad perspective and covering a wide range of aspects. It looks at the different types of “honest merchant” conceptions originating from different cultures and literary traditions. The book covers Japanese, Islamic, Scandinavian, Russian, German, Spanish, as well as other aspects, and studies different disciplinary backgrounds of the honest merchant, such as philosophical, economic, neuroethical, sociological and literary ones. The concept of the honest merchant has a long (...) tradition in business ethics. In the Hanseatic League and in medieval Italy, the ideal of the honest businessman was taught since the late Middle Ages. It originated during a time when travelling merchants were often regarded with a sceptical eye. The honest merchants of their time however held clear principles in their business and took responsibility for their community. In later times, the religious notions of the concept lost their pivotal place to reason and morality. This book goes beyond the tradition of discussing business ethics in association with concepts from the Hanseatic League and medieval Italy, and puts the central concept of business ethics in a much greater perspective. (shrink)

This book examines the issue of rational cooperation, especially cooperation between people with conflicting moral commitments. The first part considers how the two main aspects of cooperation - the choice by a group of a particular cooperative scheme and the decision by each member to contribute to that scheme - can be understood as guided by reason. The second part explores how the activity of reasoning itself can take a cooperative form. The book is distinctive in offering an (...) account of what people can accomplish by reasoning together, of the role of deliberation in democratic decision making, and of the negotiation of the proper use of concepts. Presenting for the first time a detailed analysis of the general problem of cooperation and collective reasoning between people with different moral commitments, this book will be of particular interest to philosophers of the social sciences and to students in political science, sociology and economics. (shrink)

In this work we analyse the main interpretations of ownership in Original Institutional Economics (OIE) and their links with pragmatist psychology and psychoanalysis. We consider Thorstein Veblen's notion of ownership as a relation of possession of persons, and John R.Commons's distinction between “corporeal” and “intangible” property, that marks the shift from a material possession of goods and arbitrary power over the workers to the development of human faculties in a more participatory environment. For space reasons we do not address other (...) contributions developed both by the OIE and by the New Institutional Economics. We then consider a number of contributions of pragmatist social psychology and psychoanalysis that, although not dealing directly with the notion of ownership, can cast light not only on the private and “material“ aspects of ownership but also on its collective and “relational aspects”. The reason why we consider it useful to address different perspectives is that, as observed by the famous sociologist Karl Mannheim (1952), a landscape can be seen only from a determined perspective and without perspective there is no landscape. Hence, observing a landscape (or phenomenon) from different angles (or disciplines) can help to acquire a much clearer insight into the features of the various perspectives. And this is one of the main advantage of a pluralist approach to the study of economic and social phenomena, also aimed at overcoming the fragmentation so often present in social sciences. In this light, the interpretative theories that we address, however different in many respects, present notable complementarities, in the sense that the aspects more overlooked by some are more completely considered by the others. In our work, these different but complementary notions of ownership can help illuminate the manifold aspects of human relations, also with a view to provide a more tailored policy action for the solution of their more problematic aspects. (shrink)