Although moral hazard is a well-known economic concept, there is a long-standing controversy over its moral implications. The language economists use to describe moral hazard is often value-laden, and implies moral judgments about the persons or actions of economic agents. This in turn leads some to question whether it is actually a scientific concept, or simply a convenient tool for criticizing certain public policies. At present, there is no consensus about the moral meaning of moral hazard, or about whether the (...) concept can be salvaged by economists. As a first step toward resolving this problem, I suggest a contracts approach to moral hazard. I use the ‘title-transfer’ theory of contract to clarify the moral content of moral hazard, thereby increasing its value to scholars in numerous disciplines. A contracts view is useful for economic policy discussions because it does not include hidden value judgments. At the same time, however, it is also valuable for ethicists because it directly explains a moral dimension of behavior under moral hazard, namely, the violation of property rights. (shrink)

Libertarian Papers is delighted to welcome Jakub Wiśniewski to our editorial board. Jakub Bożydar Wiśniewski is a four-time summer fellow at the Ludwig von Mises Institute, a three-time fellow at the Institute for Humane Studies, an affiliated lecturer with the Polish-American Leadership Academy, and an affiliated lecturer and a member of the Board of Trustees of the Ludwig von Mises ….

We are happy to announce that Libertarian Papers has been chosen for inclusion in the web archives of the Library of Congress. This means that, once archived, the complete journal will be available indefinitely both to researchers at Library facilities and by special arrangement. Of course, because Libertarian Papers uses an open-access format, the use of ….

Video games aren't merely casual entertainment: they are the heart of one of the fastest-growing media industries in the world, and a cultural phenomenon in their own right. Gaming has evolved from a niche pastime into a global business that rivals film and television, creating, in the process, new art forms and social arenas and have become the subject of endless public debate. This book shows that games also provide a unique space in which to study economic behavior. Games, more (...) than any other form of media, demonstrate the power and creative potential of human choice - an idea that's also the foundation of economic thinking. Whether it's developing trade relations, or the use of money, or even complex legal institutions, virtual worlds provide a captivating and entertaining arena for studying economic behavior in its most dynamic forms. The overarching theme of the volume is the economic order that governs virtual worlds, and the many ways individuals work together, often without knowing it, to govern their social relations in digital space. (shrink)

We are happy to announce that Volume 8 of Libertarian Papers is now available in a print edition. This volume contains all Libertarian Papers articles for 2016, including contributions by scholars like Jan Narveson, Billy Christmas, Peter Lewin, Ryan Murphy, Aiden P. Gregg, and many others. It also covers a wide range of the most pressing and controversial topics in ….

The 'Austrian' tradition is well-known for its definitive contributions to economics in the twentieth century. However, Austrian economics also offers an exciting research agenda outside the traditional boundaries of economics, especially in the management disciplines. This Element examines how Austrian ideas play a key role in expanding the understanding of fields like entrepreneurship, strategy, and organization. It focuses especially on the vital role that entrepreneurs play in guiding economic progress by shaping firms and their strategic behavior. In doing so, it (...) explains a wide range of contributions that Austrian economics makes to the understanding of key problems in management, while also highlighting many directions for future work in this inspiring tradition. (shrink)

Libertarian Papers is pleased to announce that Matthew McCaffrey has agreed to serve as the journal’s Editor. A PhD candidate at the University of Angers, Mises Institute fellow, and winner of the 2010 Lawrence W. Fertig Prize in Austrian Economics, Matt previously served as the journal’s Managing Editor. He may be reached here. Stephan Kinsella [...].

Postcolonial science studies entails ostensibly contradictory critical and empirical commitments. Science studies scholars influenced by Bruno Latour and Isabelle Stengers embrace forms of realist, radical empiricism, while postcolonial studies scholars influenced by Jacques Derrida trace the limits of the knowable. This essay takes their common use of the term cosmopolitics as an unexpected point of departure for reconciling Derrida’s program with Stengers’s and Latour’s. I read Derrida’s critique of hospitality and Stengers’s and Latour’s ontological politics as necessary complements for conceiving (...) a care-oriented subalternist cosmopolitics, a process of composing common worlds that remains attentive to the limits of representation. (shrink)

Suppose we consider knowledge to be valuable because of the role known propositions play in practical reasoning. This, I argue, does not provide a reason to think that knowledge is valuable in itself. Rather, it provides a reason to think that true belief is valuable from one standpoint, and that justified belief is valuable from another standpoint, and similarly for other epistemic concepts. The value of the concept of knowledge is that it provides an economical way of talking about many (...) epistemic concepts that are valuable in itself from one standpoint or another. In this way knowledge is like a Swiss Army Knife; a Swiss Army Knife is not useful as such on any occasion, but it provides an efficient way of carrying around different tools that are useful in themselves on different occasions. (shrink)

On the one hand, Hume accepts the view -- which he attributes primarily to Stoicism -- that there exists a determinate best and happiest life for human beings, a way of life led by a figure whom Hume calls "the true philosopher." On the other hand, Hume accepts that view -- which he attributes to Scepticism -- that there exists a vast plurality of good and happy lives, each potentially equally choiceworthy. In this paper, I reconcile Hume's apparently conflicting commitments: (...) I argue that Hume's "Sceptical" pluralism about the character of the happiest life need not conflict with his "Stoic" advocacy of the supreme happiness of the true philosopher, given Hume's flexible understanding of how one might live as a true philosopher. (shrink)

In Nicomachean Ethics X.7–8, Aristotle defends a striking view about the good for human beings. According to Aristotle, the single happiest way of life is organized around philosophical contemplation. According to the narrowness worry, however, Aristotle's contemplative ideal is unduly Procrustean, restrictive, inflexible, and oblivious of human diversity. In this paper, I argue that Aristotle has resources for responding to the narrowness worry, and that his contemplative ideal can take due account of human diversity.

In Plato’s Symposium, the mysterious Apollodorus recounts to an unnamed comrade, and to us, Aristodemus’ story of just what happened at Agathon’s drinking party. Since Apollodorus did not attend the party, however, it is unclear what relevance he could have to our understanding of Socrates’ speech, or to the Alcibiadean “satyr and silenic drama” (222d) that follows. The strangeness of Apollodorus is accentuated by his recession into the background after only two Stephanus pages. What difference—if any—does Apollodorus make to the (...) Symposium? Does his inclusion call the dramatic and philosophical unity of the work into question? I argue that despite initial appearances, Plato has important philosophical reasons for including Apollodorus as a character. Far from being an odd appendage to an otherwise complete narrative, the figure of Apollodorus is useful for our understanding of Socrates’s conception of eros later in the work. (shrink)

The impressive variation amongst biological individuals generates many complexities in addressing the simple-sounding question what is a biological individual? A distinction between evolutionary and physiological individuals is useful in thinking about biological individuals, as is attention to the kinds of groups, such as superorganisms and species, that have sometimes been thought of as biological individuals. More fully understanding the conceptual space that biological individuals occupy also involves considering a range of other concepts, such as life, reproduction, and agency. There has (...) been a focus in some recent discussions by both philosophers and biologists on how evolutionary individuals are created and regulated, as well as continuing work on the evolution of individuality. (shrink)

In this essay, we examine the use of resting state fMRI data for psychological inferences. We argue that resting state studies hold the paired promises of discovering novel functional brain networks, and of avoiding some of the limitations of task-based fMRI. However, we argue that the very features of experimental design that enable resting state fMRI to support exploratory science also generate a novel confound. We argue that seemingly key features of resting state functional connectivity networks may be artefacts resulting (...) from sampling a ‘mixture distribution’ of diverse brain networks active at different times during the scan. We explore the consequences of this ‘mixture view’ for attempts to theorize about the cognitive or psychological functions of resting state networks, as well as the value of exploratory experiments. (shrink)

Multifunctionality poses significant challenges for human brain mapping. Cathy Price and Karl Friston argue that brain regions perform many functions in one sense and a single function in another. Thus, neuroscientists must revise their “cognitive ontologies” to obtain systematic mappings. Colin Klein draws a different lesson from these findings: neuroscientists should abandon systematic mappings for context-sensitive ones. I claim that neither account succeeds as a general treatment of multifunctionality. I argue that brain areas, like genes or organs, are multifunctional in (...) different ways. I call this the “functional heterogeneity hypothesis.” I contend that different multifunctional parts require different mapping strategies. (shrink)

Start-up organisations are small companies that experience a high level of growth and considerable risk to their very survival until they evolve into stable, established companies. This situation presents a particular set of challenges in terms of corporate governance, yet research on the governance of start-ups is limited. This research paper examines and comments on the governance of start-up organisations in New Zealand. The study replicates and extends previous New Zealand-based research of boards of established companies. From the data gathered (...) from the two surveys, conclusions can be drawn as to the role and focus of boards in start-ups versus established companies. The results are consistent with a model of active ownership which identifies key differences from established companies that could improve the governance of start-ups. The results also highlight the dependence of what might constitute effective corporate governance for a start-up on the strategic context of the company and its life cycle stage. (shrink)

Functional localization is a central aim of cognitive neuroscience. But the nature and extent of functional localization in the human brain have been subjects of fierce theoretical debate since the 19th Century. In this essay, I first examine how concepts of functional localization have changed over time. I then analyze contemporary challenges to functional localization drawing from research on neural reuse, neural degeneracy, and the context-dependence of neural functions. I explore the consequences of these challenges for topics in philosophy of (...) science and philosophy of mind including localizationist versus anti-localizationist approaches to cognitive neuroscience, multiple realizability, reverse inference in functional neuroimaging, and the modularity of mind. (shrink)

At the heart of this volume is the assertion that Sartrean existentialism, most prominent in the 1940s, particularly in France, is still relevant as a way of ...

What are the vehicles of conceptual thought? Recently, cognitive scientists and philosophers of psychology have developed quite different theories about what kinds of representations concepts are. At one extreme, amodal theories claim that concepts are representations whose vehicles are distinct from those used in perceptual processes. At the other end of the spectrum, neo-empiricism proposes that concepts are perceptual representations grounded in the mind's sensory, motor, and affective systems. In this essay, I examine how evidence from the neuropsychological disorder semantic (...) dementia bears on philosophical debates about the nature of conceptual vehicles. I argue that the pattern of deficits in semantic dementia undermines recent neo-empiricist predictions about where and how conceptual knowledge is organized in the brain. I do not intend my analysis of semantic dementia to wholly discredit neo-empiricism; instead, I draw lessons for future theorizing about conceptual vehicles. (shrink)

This book addresses a range of relevant theoretical issues, including the possibility of an interpersonally comparable measure of well-being, or “utility” metric; the moral value of equality, and how that bears on the form of the social welfare function; social choice under uncertainty; and the possibility of integrating considerations of individual choice and responsibility into the social-welfare-function framework. This book also deals with issues of implementation, and explores how survey data and other sources of evidence might be used to calibrate (...) both a utility metric and a social welfare function, and whether distributive goals are ever best pursued through regulation rather than the tax system. In working through this range of theoretical and practical issues, the book draws from a wide variety of literatures, including philosophical scholarship on equality, responsibility, the nature of well-being, and personal identity over time; the social choice literature within economics; applied economic literatures concerning the measurement of inequality and poverty; legal and policy-analysis scholarship on cost-benefit analysis, environmental justice, and the choice between regulation and taxation; and the burgeoning field of “happiness studies”. (shrink)

In this paper I lay out the ground for a creative dialogue between Buddhist thought and contemporary nursing. I start from the observation that in tracing an arc from the existential human experience of suffering to finding compassionate responses to suffering in everyday practice Buddhist thought already appears to present significant affinities with nursing as a practice discipline. I discuss some of the complexities of entering into a cross‐cultural dialogue, which is already well under way in the working out of (...) Western forms of Buddhism, and which is beginning to be reflected in nursing literature. I introduce philosophical hermeneutics as a useful framework for elaborating an open and constructive exchange. I then discuss key Mahayana Buddhist concepts of emptiness and two truths that lead to a dynamic and open way of understanding reality and responding in the world. I turn to examples of original texts to give a flavour of the varied and distinctive forms of literature in the Buddhist tradition. This is intended partly to keep the reader alert to cultural difference (from a Western standpoint, that is) while exploring the creative potential of Buddhist thought. Hermeneutics again provides a framework for interpretation. This paper establishes a philosophical ground for a critical and creative dialogue between Buddhist thought and nursing. (shrink)

I distinguish two ways of explaining our capacity for ‘transparent’ knowledge of our own present beliefs, perceptions, and intentions: an inferential and a reflective approach. Alex Byrne (2011) has defended an inferential approach, but I argue that this approach faces a basic difficulty, and that a reflective approach avoids the difficulty. I conclude with a brief sketch and defence of a reflective approach to our transparent self-knowledge, and I show how this approach is connected with the thesis that we must (...) distinguish between a kind of self-knowledge that is of oneself as agent and another kind that is of oneself as patient. (shrink)

In the mathematics education research literature, there is a growing body of scholarship on how mathematicians practice their craft. The purpose of this chapter is to survey some of this literature and explain how it can contribute to the philosophy of mathematical practice. We first describe how mathematics educators use empirical methodologies to investigate the behaviors of mathematicians and argue that findings from these studies can inform the philosophy of mathematical practice. We then illustrate this by summarizing research on mathematicians’ (...) understandings and mathematicians’ proof reading. (shrink)

Constitutivists hope to locate the foundations of ethics in the nature of action. They hope to find norms that are constitutive of agency. Recently David Enoch has argued that even if there are such norms, they cannot provide the last word when it comes to normativity, since they cannot tell us whether we have reason to be agents rather than shmagents. I argue that the force of the shmagency objection has been considerably overestimated, because philosophers on both sides of the (...) debate have failed to grasp the true source of the authority of agency’s constitutive norm. Some constitutivists believe that this authority is rooted in the inescapability of agency. Yet agency is not, in fact, inescapable. What actually grounds the authority of agency’s constitutive norm is the fact that there is no standpoint outside of agency from which we can intelligibly ask normative questions. (shrink)

What is it to know someone? Epistemologists rarely take up this question, though recent developments make such inquiry possible and desirable. This paper advances an account of how such interpersonal knowledge goes beyond mere propositional and qualitative knowledge about someone, giving a central place to second-personal treatment. It examines what such knowledge requires, and what makes it distinctive within epistemology as well as socially. It assesses its theoretic value for several issues in moral psychology, epistemic injustice, and philosophy of mind. (...) And it offers an account of the complex content in play if interpersonal knowledge is to be understood in terms of its mental states and their functions. (shrink)

Surprisingly little has been written about hedged assertion. Linguists often focus on semantic or syntactic theorizing about, for example, grammatical evidentials or epistemic modals, but pay far less attention to what hedging does at the level of action. By contrast, philosophers have focused extensively on normative issues regarding what epistemic position is required for proper assertion, yet they have almost exclusively considered unqualified declaratives. This essay considers the linguistic and normative issues side-by-side. We aim to bring some order and clarity (...) to thinking about hedging, so as to illuminate aspects of interest to both linguists and philosophers. In particular, we consider three broad questions. 1) The structural question: when one hedges, what is the speaker’s commitment weakened from? 2) The functional question: what is the best way to understand how a hedge weakens? And 3) the taxonomic question: are hedged assertions genuine assertions, another speech act, or what? (shrink)

Prioritarianism is a moral view that ranks outcomes according to the sum of a strictly increasing and strictly concave transformation of individual well-being. Prioritarianism is ‘welfarist’ (namel...

This collection of essays forms a lively debate over the fundamental characteristics of legal and moral rights. The essays examine whether rights fundamentally protect individuals' interests or whether they instead fundamentally enable individuals to make choices.

Hope, in its propositional construction "I hope that p," is compatible with a stated chance for the speaker that not-p. On fallibilist construals of knowledge, knowledge is compatible with a chance of being wrong, such that one can know that p even though there is an epistemic chance for one that not-p. But self-ascriptions of propositional hope that p seem to be incompatible, in some sense, with self-ascriptions of knowing whether p. Data from conjoining hope self-ascription with outright assertions, with (...) first- and third-person knowledge ascriptions, and with factive predicates suggest a problem: when combined with a plausible principle on the rationality of hope, they suggest that fallibilism is false. By contrast, the infallibilist about knowledge can straightforwardly explain why knowledge would be incompatible with hope, and can offer a simple and unified explanation of all the linguistic data introduced here. This suggests that fallibilists bear an explanatory burden which has been hitherto overlooked. (shrink)

Intellectualists about knowledge how argue that knowing how to do something is knowing the content of a proposition (i.e, a fact). An important component of this view is the idea that propositional knowledge is translated into behavior when it is presented to the mind in a peculiarly practical way. Until recently, however, intellectualists have not said much about what it means for propositional knowledge to be entertained under thought's practical guise. Carlotta Pavese fills this gap in the intellectualist view by (...) modeling practical modes of thought after Fregean senses. In this paper, I take up her model and the presuppositions it is built upon, arguing that her view of practical thought is not positioned to account for much of what human agents are able to do. (shrink)

The Knowledge Norm or Knowledge Account of Assertion (KAA) has received added support recently from data on prompting assertion (Turri 2010) and from a refinement suggesting that assertions ought to express knowledge (Turri 2011). This paper adds another argument from parenthetical positioning, and then argues that KAA’s unified explanation of some of the earliest data (from Moorean conjunctions) adduced in its favor recommends KAA over its rivals.

Contemporary scholarship concerning science diplomacy is increasingly taking a historical approach. In our introduction to this special issue, we argue that this approach promises insight into science diplomacy because of the tools historians of science bring to their work. In particular, we observe that not only are historians of science currently poised to chart the diplomatic aspects involved in the transnational circulation of technoscientific knowledge, materials, and expertise. They are ready to bring critical global analysis to an important phenomenon that (...) has too often been treated as a benign diplomacy device deployed by the Global North without equal reference to the Global South. Through cases discussed in the articles of the special issue, however, we see that historically, in the Global South as well as the Global North, science diplomacy has often functioned to mediate the circulation of technoscientific knowledge and materials, and its historical study helps to better illuminate the resulting knowledge-power nexus. (shrink)

Recent epistemology has focused almost exclusively on propositional knowledge. This paper considers an underexplored area of epistemology, namely knowledge of persons: if propositional knowledge is a state of mind, consisting in a subject's attitude to a (true) proposition, the account developed here thinks of interpersonal knowledge as a state of minds, involving a subject's attitude to another (existing) subject. This kind of knowledge is distinct from propositional knowledge, but it exhibits a gradability characteristic of context-sensitivity, and admits of shifty thresholds. (...) It is supported by a wide range of unexplored linguistic data and intuitive cases; and it promises to illuminate debates within epistemology, philosophy of religion, and ethics. (shrink)

Encyclopedia entry covering the growing literature on the Knowledge Norm of Assertion (and its rivals), the Knowledge Norm of Action (and pragmatic encroachment), the Knowledge Norm of Belief, and the Knowledge Norm of Disagreement.

Some philosophers oppose recent arguments for the Knowledge Norm of Assertion by claiming that assertion, being an act much like any other, will be subject to norms governing acts generally, such as those articulated by Grice for the purpose of successful, cooperative endeavours. But in fact, Grice is a traitor to their cause; or rather, they are his dissenters, not his disciples. Drawing on Grice's unpublished papers, I show that he thought of asserting as a special linguistic act in need (...) of its own norm, and he tied his maxim of Quality to knowledge. I also develop a simple Gricean-inspired argument showing that the Quality maxim is not dependent on the Cooperative Principle. If it is not thus dependent, then the Cooperative Principle cannot be the explanation of, or source of normativity for, the Quality maxim. Thus, leveraging the insights informing the maxim of Quality actually provides the resources for a distinctive positive case that knowledge is the constitutive norm of assertion. (shrink)

In this paper I argue that if one subscribes to dispositionalism — the view that natural properties are irreducibly dispositional in character — then one ought to favour a Platonic view of properties. That is, dispositionalists ought to view properties as transcendent universals. I argue for this on the grounds that only with transcendent universals in play can two central dispositionalist platitudes be accounted for in a satisfactory way. Given that dispositionalism is becoming an increasingly influential view in the metaphysics (...) of science, my argument, if successful, suggests that Platonism will see something of a revival in contemporary metaphysics. This new kind of Platonism is shown to have some striking metaphysical and epistemological consequences. (shrink)

The attention paid to the influence of organizational philanthropy on consumer responses has precipitated a shift in the role this practice plays in organizational dynamics—with philanthropy becoming an increasingly strategic marketing tool. The authors develop and test a model predicting that: (1) perceived organizational credibility will mediate the relationship between awareness of philanthropy and the outcomes of advocacy and financial sacrifice; (2) consumer social consciousness will moderate the relationship between awareness of philanthropy and firm credibility, and between credibility and the (...) outcome variables; and (3) these moderated relationships will be mediated by perceived credibility. Data obtained from a sample of professional golf patrons support our assertions. Notably, the findings implicate perceived credibility as a key intervening variable in the hypothesized relationships for the PGA Tour. (shrink)

Ideal theory has been extensively contested on the grounds that it is ideology: namely, that it performs the distorting social role of reifying and enforcing unjust features of the status quo. Indeed, a growing number of philosophers adopt a nonideal methodology—which dispenses with ideal theory—because of this ideology critique. I argue, however, that such philosophers are confused about the ultimate dialectical upshot of this critique even if it succeeds. I do so by constructing a parallel—equally plausible—ideology critique of nonideal methodology; (...) specifically, I argue that capitalist and managerial social attitudes have commodified people’s conception of justice and induced suspicion of ideal theory, which is not construed as having direct practical value. Consequently, nonideal methodology performs the distorting role of reifying and enforcing the hegemonies of capitalism and managerialism. Ideal theory and nonideal methodology are, therefore, in symmetrically bad positions. (shrink)

Research illustrates that social movements can fuel new markets and that these markets can create social change, but the role of leaders in this process is less understood. This exploratory interview-based study of the localism movement contributes to such understanding. It articulates the relationship of social movement leaders and the legitimacy of their organizations to new market creation. Specifically, leaders in this study engaged in a dual role to legitimize their organizations and to legitimize the movement. At an organizational level, (...) leaders chose strategies that conformed to a conventional organizational model of the social movement organization as a business network, much like a local chamber of commerce. At a movement level, the SMO’s level of legitimacy influenced the leader’s choice of strategies to grow a “local” market. These strategies aimed, primarily, to shape consumer purchase behavior and, secondarily, to foster the development of producers’ skills, and only in a tertiary way, to alter the nature of exchange. Finally, this study’s findings suggest a tension between the dual roles that may ultimately challenge the efficacy of the movement. (shrink)

I defend affirmative action on the ground that it increases certain people’s ability to exercise their basic liberties, rather than because it rectifies injustice in the narrow context of educational admission procedures. I present this justification using a Rawlsian contractualist framework to forge a “nonideal principle of justice.” Drawing on social science, I argue that this principle supports affirmative-action policies like those in the contemporary U.S., and blocks the objection that such policies are unfair. In closing, I show how my (...) account can be used to refine some features of contemporary affirmative-action policies, and I reflect more generally on the value of nonideal principles of justice for tackling exigent topics. (shrink)

Using medical advances to enhance human athletic, aesthetic, and cognitive performance, rather than to treat disease, has been controversial. Little is known about physicians? experiences, views, and attitudes in this regard. We surveyed a national sample of physicians to determine how often they prescribe enhancements, their views on using medicine for enhancement, and whether they would be willing to prescribe a series of potential interventions that might be considered enhancements. We find that many physicians occasionally prescribe enhancements, but doctors hold (...) nuanced and ambiguous views of these issues. Most express concerns about the potential effects of enhancements on social equity, yet many also believe specific enhancements that are safe and effective should be available but not covered by insurance. These apparently contradictory views might reflect inherent tensions between the values of equity and liberty, which could make crafting coherent social policies on medical enhancements challenging. [Supplementary materials are available for this article. Go to the publisher's online edition of American Journal of Bioethics for the following free supplemental resource(s): An additional table (Table 5) referred to on p. 5]. (shrink)

Doxastic involuntarists, as I categorize them, say that it’s impossible to form a belief as an intentional action. But what exactly is it to form a belief, as opposed to simply getting yourself to have one? This question has been insufficiently addressed, and the lacuna threatens the involuntarists’ position: if the question isn’t answered, their view will lack any clear content; but, after considering some straightforward ways of answering it, I argue that they would make involuntarism either false or insignificant. (...) I also examine several involuntarist arguments, and find them faltering at just this point: inadequate attention to belief-formation results in unsound arguments or insignificant conclusions. The viability of involuntarism as a meaningful position, I conclude, turns on whether the notion of belief-formation can be further developed. (shrink)