v. 1. Lo sviluppo del capitalismo (1872-1895).--v. 2. Reazione, liberta, fascismo (1896-1923).

Vilfredo Pareto's Manual of Political Economy is a 'classic' study in the history of economic thought. It is not only one of the leading works in the Lausanne tradition of economics, which centres on the theory of general equilibrium, it is one of the most important books in the history of neoclassical economics. This 'critical edition' of Pareto's Manual of Political Economy is a very significant work for two main reasons. First, it is the only variorum translation (...) of the 1906 Italian language Manuale di Economia Politica and the 1909 French language Manuel d'Économie Politique. Second, it includes extensive contributions by the editors, all of whom are authorities on the work of Pareto. It total, the editorial contribution are around two hundred pages and range from brief annotations, to extended editors' notes and detailed notes on the 1909 mathematical appendix. (shrink)

The epistemological standards of contemporary social sciences refute ‘functional’ and ‘law-like’ explanations, whereas mechanism-based causal explanations have become widely accepted in various fields of inquiry. The paper supports the hypothesis that authors Vilfredo Pareto and Gaetano Mosca, despite their deference to positivist epistemology, significantly anticipated these developments. Indeed, with their emphasis on history, contexts and agents, elitists ushered into the debate of their time some arguments that realist epistemology fully developed, emphasising the role of context-specific and, often, not (...) directly observable explanatory features. To illustrate the ante litteram epistemological realism of elitist thinkers, the paper reconstructs the positions of Mosca and Pareto concerning two major themes of that time, in which elitists challenged the mainstream ideas and values of most of their peers with epistemological arguments that refuse a linear notion of causality. (shrink)

The article is devoted to Vilfredo Pareto’s reflections on socialism and dicusses thoroughly his important work Les syst`emes socialistes, especially its first part dealing with so called real socialist systems. This large treatise edited in 1901-1902 played an important role in the evolution of Pareto’s ideas. It brought the early version of his famous theory of social elites that was strictly connected with his refutation of historiosophical progressivism. Pareto examined many historical examples– from ancient to some (...) tendencies in contemporary policy – in order to elaborate the precise typology of the systems of real socialism. He tried to demonstrate that real socialism was an obstacle to economic and cultural development. Socialism was for him on the one hand utopian, and on the other hand – immoral. He didn’t exclude however that in the future the well organized socialist movement would come into power. (shrink)

ABSTRACTR. G. Collingwood's New Leviathan presents an account of two ‘dialectical’ political processes that are ongoing in any body politic. Existing scholarship has already covered the first: a dialectic between a ‘social’ and a ‘non-social’ element, which Collingwood identifies in Hobbes. This essay elucidates a second: a dialectic between Liberals and Conservatives, which regulates the ‘percolation’ of liberty and the rate of recruitment into what Collingwood calls ‘the ruling class’. The details of this second dialectic are to be found not (...) in Hobbes, but in the work of Vilfredo Pareto and Gaetano Mosca, yet Collingwood's connections to these fathers of ‘classical elite theory’ have not previously been discussed. (shrink)

Social robotics has a high disruptive potential, for it expands the field of application of intelligent technology to practical contexts of a relational nature. Due to their capacity to “intersubjectively” interact with people, social robots can take over new roles in our daily activities, multiplying the ethical implications of intelligent robotics. In this paper, we offer some preliminary considerations for the ethical reflection on social robotics, so that to clarify how to correctly orient the critical-normative thinking in this arduous task. (...) We defend the ‘being perspective’ and its linked categories of ‘teleology’ and ‘interest’ as the ones from which to articulate the reflection. We argue that attending primarily to the ‘being’, before the ‘doing’, of robots allow us to correctly approach the core phenomenon of all ethical concerns on social robotics, avoiding the reductionisms in the ethical gaze to which the latter may lead. (shrink)

If the specificity of liberal democracy, as a regime, is to base power on consent then political violence appears to contradict the typical self-understanding of the societies whose functioning it informs. A justification of the motives which may call for such violence thus becomes both a political and a philosophical problem when such a regime faces the necessity to resort to violent means of action. Reaching intellectual maturity during the 30’s and the 40’s, while democratic states were faltering in Europe, (...) Raymond Aron had an acute understanding of this issue. An inquiry into Aron’s publications from that period will help us identify what kind of moral and cultural foundations they need to have if they are not to collapse during wartime. These texts also shed an original light on his post-war political thought and may lead us to reconsider some dominant contemporary interpretations of his work as revolving around the Kantian–Machiavellian antinomy. When compared to either element of this antinomy, Aron’s conception of agency, its emphasis on moral obligations, virtues and moral character, starts bearing more resemblance to the political science of Aristotle than to modern social or political science. (shrink)

The authors of this book reconstruct the philosophical, methodological and theoretical assumptions of non-Marxian historical materialism, a theory of historical process authored by Leszek Nowak (1943-2009), a co-founder of the Poznań School of Methodology. In the first part of the book, philosophical assumptions of this theory are compared with the concepts of Robert Nozick, Immanuel Wallerstein, André Gunder Frank and analytical Marxism. In the second part, non-Marxian historical materialism is compared with the concepts of Eva Etzioni-Halevy, Andrzej Falkiewicz, Robert Michels, (...) Vilfredo Pareto, Theda Skocpol and Karl August Wittfogel. (shrink)

The basics of the state economic policy and its evolution in socio-historical progress in civilization process are analyzed; the author studies the approaches substantiated in their time by such famous thinkers likeNiccolo Machiavelli, ThomasHobbes, JohnLocke, GeorgHegel, KarlMarx, JohnRawls; liberal substantiations suggested byAdamSmith, DavidRicardo, JohnMaynardKeynes, Ludwig von Mises, MiltonFriedman,Friedrich von Hayek, R. Cokhane in their works; utilitarian theory of social welfareby Jeremy Bentham, arepresentative of classical political economical schoolJohnStuartMill didn't deny the possibility and eligibility of state's interference in the economic processes; (...) the utilitarian theory of social welfare by Jeremy Bentham, who suggested pleasures and suffering analysis concept according to which it is expedient to redistribute the income between the rich and the poor to provide the best welfare in the society that influenced thespreading of "marginalist revolution"ideasand which has changed the methodological and theoretical basics of economic policy. Aconsiderable and significant contribution to the economic welfare theory developing was made by Vilfredo Pareto. With the help of the curvesof indifference Vilfredo Paretoanalyzed effective conditions of resources placing based on whichthe first theorem of welfare economy“Pareto optimum”– thecriterion of economic effectiveness was developed. The conceptions of state economic policy suggested by the representatives of monetarism, keynesianism, marxism, economic nationalism and others are analyzed. There is a great range of intermediate ways of economic policy implementation between alternative models being analyzed within which the state regulation is restricted to certain spheres. (shrink)

Since its publication in 1918, Oswald Spengler's The Decline of the West has been the object of academic controversy and opprobrium. In their efforts to dispose of it, scholars have resorted to a variety of tactics: bitter invective, icy scorn, urbane mockery, or simply pretending that the book is not there. Yet generations of readers have refused to be warned off, finding in Spengler a prophetic voice and a source of profound intellectual excitement. H. Stuart Hughes's Oswald Spengler offers a (...) judicious and objective reading of Spengler's works that admirably fills the gap between hypercritical invective and naive enthusiasm. This pioneering volume makes clear why Spengler's pessimistic reading of the fate of European civilization continues to resonate with contemporary anxieties. Despite the author's self-imposed intellectual and social isolation, Spengler's work was as Hughes demonstrates, a part of the enormous effort of intellectual reevaluation that has characterized the early twentieth century. Viewing Spengler in the broadest possible perspective, the author places his thought in its cultural relationship to that of such predecessors as Giambattista Vico, Friedrich Nietzsche, and Nikolai Danilevsky and contemporaries including Benedetto Croce, Henri Bergson, and Vilfredo Pareto. A chapter of Hughes's book is devoted to Spengler's influence on later cyclical thinkers such as Arnold Toynbee and Pitirim Sorokin. Another chapter clarifies the essentially antagonistic relationship between his thought and Nazi ideology. Throughout, Hughes is carefully attuned to the complex and often bewildering shifts of Spengler's ideas and manner, providing a unified picture of the sober historian; the lofty seer; the cool, detached observer; and the impassioned participant. In his introduction to this new edition, Hughes comments on the timeliness of Spengler's message with respect to technology and environmental issues and draws some unexpected and fascinating parallels between Spengler's thought and that of Ludwig Wittgenstein. Oswald Spengler offers an illuminating view of the achievements and limitations of one of the most influential and representative figures of the twentieth century. It will be of concern to intellectual historians, philosophers, political scientists, and sociologists. (shrink)

SummaryThis article deals with laissez faire arguments as distinguishable in Europe between the final decades of the nineteenth century and 1914. The focus is on Herbert Spencer and the British ‘Individualists’, the Italian Vilfredo Pareto, and the Frenchman Paul Leroy-Beaulieu. Analysis concentrates on the relationship between laissez faire formulations and democracy, the latter amounting to the impact of the extension of the franchise on representative government. All the mentioned authors blamed the mechanisms of democratic government for the contemporary (...) growth in state functions. While Spencer focused on the threat of a new class legislation after the demise of aristocratic power, Pareto and Leroy-Beaulieu viewed the pressure of lobbies and parties as the chief cause of the extension of state interventions. This article also aims to detect similarities and differences with more recent formulations. It is argued that Friedrich Hayek's achievement was to reconcile, against earlier perspectives, laissez faire with democracy. The reconciliation rested on a conceptualisation of democracy as a valuable method or procedure, onto which no values should be grafted. (shrink)

An assessment of Joel Isaac’s recent, well-researched attempt to provide a context for the emergence of Kuhn’s The Structure of Scientific Revolutions. That context consisted in the open space for cross-disciplinary projects between the natural and social sciences that existed at Harvard during the presidency of James Bryant Conant, from the early 1930s to the early 1950s. Isaac’s work at the Harvard archives adds interesting detail to a story whose general contours are already known. In particular, he reinforces the view (...) that the guiding intellectual presence of what Isaac dubs Harvard’s “interstitial academy” was the biochemist Lawrence Henderson, someone who was enamored of Vilfredo Pareto’s version of scientism and was materially supported by the Rockefeller Foundation’s interest in increasing worker productivity. Isaac fails to consider the normative implications of Henderson’s vision, which influenced Talcott Parsons even more deeply than Kuhn. Isaac’s book is read in light of this concern, which reveals a profound sense of what is required of the sort of future elite policy maker that Harvard hoped to train: namely, a systems-based orientation that is at the same time tolerant of considerable intrasystemic incommensurability. The epistemological and ethical aspects of this prescription are analyzed. (shrink)

In order to understand the various strands of general equilibrium theory, why it has taken the forms that it has since the time of Léon Walras, and to appreciate fully a view of the state of general equilibrium theorising, it is essential to understand Walras's work and examine its influence. The first section of this book accordingly examines the foundations of Walras's work. These include his philosophical and methodological approach to economic modelling, his views on human nature, and the basic (...) components of his general equilibrium models. The second section examines how the influence of his ideas has been manifested in the theorising of his successors, surveying the models of theorists such as H. L. Moore, Vilfredo Pareto, Knut Wicksell, Gustav Cassel, Abraham Wald, John von Neumann, J. R. Hicks, Kenneth Arrow, and Gerard Debreu. The treatment also examines models of many types in which Walras's influence is explicitly acknowledged. (shrink)

Seventy years ago James Burnham (1905–1987) was a well-known American intellectual figure. Burnham’s 1941 book The Managerial Revolution, a cause célèbre, provided some of the conceptual framework for George Orwell’s 1984. Cornelius Castoriadis (1922–1997) at the time was an obscure Greek-French political intellectual, writer and small-group organizer. He co-founded the left-wing Socialisme ou Barbarie in Paris in 1949 while Burnham was already on a rightward intellectual trajectory. The two, though, shared certain traits. Both emerged from Trotskyist milieus as critics of (...) bureaucratic collectivism. Both were anti-communists. Both were gifted writers and thinkers who were distinctly unorthodox in their approach, notably their scepticism about 20th-century managerial society and bureaucratic forms of capitalism. Then there were the divergences. At its inception in 1955 Burnham joined National Review, the principal organ of modern centre-right conservative opinion in the United States. Castoriadis became a leading figure of the French self-management left. Based on his Christian Gauss Seminar at Princeton, Burnham’s 1964 book Suicide of the West offered the most potent intellectual critique of left-liberalism ever produced. In ‘Proletariat and Organization 1’ (1959), Castoriadis referred to Burnham’s ‘pseudoanalysis’ of bureaucracy. Burnham was not a self-management advocate. As he abandoned Marxism his social philosophy drew on Vilfredo Pareto and other Machiavellian social theorists. The paper explores the affinities and the divergent political trajectories of two of the 20th century’s most interesting anti-bureaucratic thinkers. (shrink)

Como Émile Durkheim, Max Weber, Werner Sombart, Georg Simmel y Vilfredo Pareto et al., Ferdinand Tönnies (1855-1936) perteneció a una generación de académicos que llegaron a ser los padres fundadores de la sociología moderna. Tönnies usó el contractualismo de Hobbes para concebir una concepción prop..

O impacto e a relevância da teoria econômica para o desenvolvimento de A Theory of Justice são, frequentemente, deixados de lado na imensa literatura a respeito das obras de John Rawls. Ainda assim, entender os elementos de economia política na obra de Rawls é fundamental para a compreensão dos motivos pelos quais ele abandonará uma abordagem utilitarista para a filosofia política e, consequentemente , par a noss o entendimento das principais questões que dão origem à noção de justiça como equidade. (...) Este artigo tem dois objetivos principais: primeiramente, descrever a influência de John Stuart Mill, Kenneth Arrow e Vilfredo Pareto na virada metodológica encontrada na ideia de posição original; segundo, descrever os elementos históricos pressupostos para a compreensibilidade dos ideais rawlsianos. Concluirei com algumas observações que sugerem um complemento historicista e fenomenológico para as descrições ideais encontradas no liberalismo político tal como é entendido por Rawls. (shrink)

Nella nuova Italia gli interpreti e i difensori delle civili libertà (l'espressione è di Romagnosi) furono pochi e poco considerati. Tra essi, gli amici e i seguaci radicali e federalisti di Carlo Cattaneo, ma anche un moderato come Pasquale Villari, il maestro di Gaetano Salvemini. Tutti ebbero in comune la condivisione del pensiero filosofico e politico di John Stuart Mill e il proposito di favorirne la diffusione nella cultura del loro tempo. Mill fu uno degli autori più tradotti nell'Italia dell'Ottocento. (...) Se la sua filosofia ebbe pochissima fortuna, il suo liberalismo attraversò invece tutta la classe politica ed intellettuale italiana: fu come un crocevia di strade diverse per provenienza e destinazione. Ciò vale per Francesco Ferrara e per Vilfredo Pareto, per Marco Minghetti e per Luigi Luzzatti, per i liberisti della Società Adamo Smíth e per i vincolisti del Giornale degli economisti. Il confronto con Mill permette di individuare i caratteri della filosofia civile del liberalismo post-unitario, le sue aspirazioni di buon governo e di giustizia, la sua fiducia nella cultura della modernità. La ricostruzione dei dibattiti e delle polemiche che si susseguirono tra gli anni sessanta e settanta sul decentramento, sulla rappresentanza proporzionale, sul suffragio femminile, sui rapporti fra stato e società civile, sul metodo dell'economia politica, sul socialismo e sull'utilitarismo i temi essenziali del liberalismo milliano aiuta a cogliere il significato storico del complesso rapporto tra liberalismo e positivismo in Italia. Ne viene fuori, come mette in rilievo Norberto Bobbio nella prefazione al volume, il carattere tortuoso e difficile del liberalismo italiano; la sua difficoltà a divenire una base effettiva di riferimento del nuovo stato, dei suoi ceti dirigenti, delle sue elite intellettuali. (shrink)

Despite immediate appearances, this book is not primarily a hermeneutical exercise in which the superiority of one interpretation of canonical texts is championed against others. Its origin lies elsewhere, near the overlap of history, psychoanalysis, aesthetics, and social theory of the usual kind. Weber, Pareto, Freud, W. I. Thomas, Max Scheler, Karl Mannheim, and many others of similar stature long ago wondered and wrote much about the interplay between societal rationalization and individual rationality, between collective furor and private psychopathology—in (...) short, about the strange and worrisome union of “character and social structure” (to recall Gerth and Mills). Pondering the history of social thought in this century can lead to the unpleasant realization that such large-scale questions slipped away, especially from sociologists, sometime before World War II. Or, if not entirely lost, they were so transformed in range and rhetoric that a gap opened between contemporary theorizing and its European background. Perhaps this partly explains Weber’s continuing appeal. By dealing with him, one might again broach topics long at odds with “social science” of the last forty years.—From the Preface. (shrink)

It is possible that the world contains infinitely many agents that have positive and negative levels of well-being. Theories have been developed to ethically rank such worlds based on the well-being levels of the agents in those worlds or other qualitative properties of the worlds in question, such as the distribution of agents across spacetime. In this thesis I argue that such ethical rankings ought to be consistent with the Pareto principle, which says that if two worlds contain the (...) same agents and some agents are better off in the first world than they are in the second and no agents are worse off than they are in the second, then the first world is better than the second. I show that if we accept four axioms – the Pareto principle, transitivity, an axiom stating that populations of worlds can be permuted, and the claim that if the ‘at least as good as’ relation holds between two worlds then it holds between qualitative duplicates of this world pair – then we must conclude that there is ubiquitous incomparability between infinite worlds. I show that this is true even if the populations of infinite worlds are disjoint or overlapping, and that we cannot use any qualitative properties of world pairs to rank these worlds. Finally, I argue that this incomparability result generates puzzles for both consequentialist and non-consequentialist theories of objective and subjective permissibility. (shrink)

Pareto principles are at the core of ethics and decision theory. The Strong Pareto principle says that if one thing is better than another for someone and at least as good for everyone else, then the one is overall better than the other. But a host of famous figures express it differently, with ‘not worse’ in place of ‘at least as good.’ In the presence of parity (or incommensurability), this results in a strictly stronger Pareto principle, which (...) I call Super‐Strong Pareto. Super‐Strong Pareto, however, yields cyclic betterness and is therefore false. I point out a number of influential arguments—concerning population ethics, collective action problems, and decision‐making in the face of parity and uncertainty—that crucially rely on Super‐Strong Pareto and are therefore unsound. I then turn to the most influential argument against the possibility of parity—Broome's collapsing argument—and argue that it likewise relies on Super‐Strong Pareto reasoning and is therefore question‐begging. Finally, I turn to the much‐neglected question of how to justify Strong Pareto. The answer I arrive at, which emphasizes tie‐breaking, yields a striking insight, namely that Super‐Strong Pareto amounts to the denial of insensitivity to mild sweetening. That is what makes it problematic in the presence of parity. (shrink)

A two-stage sequential choice model is studied, the first stage being defined by q-Pareto multicriterial choice rule, and the second stage being defined by scalar extremization model. In this model, at the first stage the q-Pareto rule choses alternatives which are not only undominated in terms of Pareto comparison, but also includes into choice the alternatives which are dominated by no more than q alternatives. Since the choice set of the first-stage usually contains too many elements, obtained (...) set is used as a presentation for the second stage constructed by a scalar extremization model. The properties of the model are studied as well as its representability to one-stage scalar extremization model. (shrink)

The Pareto principle states that if the members of society express the same preference judgment between two options, this judgment is compelling for society. A building block of normative economics and social choice theory, and often borrowed by contemporary political philosophy, the principle has rarely been subjected to philosophical criticism. The paper objects to it on the ground that it indifferently applies to those cases in which the individuals agree on both their expressed preferences and their reasons for entertaining (...) them, and those cases in which they agree on their expressed preferences, while differing on their reasons. The latter are cases of "spurious unanimity", and it is normatively inappropriate, or so the paper argues, to defend unanimity preservation at the social level for them, so the Pareto principle is formulated much too broadly. The objection seems especially powerful when the principle is applied in an ex ante context of uncertainty, in which individuals can disagree on both their probabilities and utilities, and nonetheless agree on their preferences over prospects. (shrink)

One of the more obscure arguments for Rawls’ difference principle dubbed ‘the Pareto argument for inequality’ has been criticised by G. A. Cohen (1995, 2008) as being inconsistent. In this paper, we examine and clarify the Pareto argument in detail and argue (1) that justification for the Pareto principles derives from rational selfinterest and thus the Pareto principles ought to be understood as conditions of individual rationality, (2) that the Pareto argument is not inconsistent, contra (...) Cohen, and (3) that the kind of bargaining model required to arrive at the particular unequal distribution that the difference principle picks out is a model that is not based on bargaining according to one’s threat advantage. (shrink)

Some ways of defending inequality against the charge that it is unjust require premises that egalitarians find easy to dismiss—statements, for example, about the contrasting deserts and/or entitlements of unequally placed people. But a defense of inequality suggested by John Rawls and elaborated by Brian Barry has often proved irresistible even to people of egalitarian outlook. The persuasive power of this defense of inequality has helped to drive authentic egalitarianism, of an old-fashioned, uncompromising kind, out of contemporary political philosophy. The (...) present essay is part of an attempt to bring it back in. (shrink)

The Pareto argument for inequality holds that any change from a position of equality to one of inequality is justified so long as everyone benefits from the change. G.A. Cohen criticizes this argument (which he attributes to Rawls) on the ground that changes can normally be found which preserve both equality and Pareto‐efficiency. However, this does not resolve the basic conflict between the two desiderata. Strong egalitarians hold that Pareto changes are not for the better if they (...) increase inequality too greatly. Thus if the Pareto argument holds, then strong egalitarianism is unsustainable. I argue that egalitarians need not be troubled by the Pareto argument for inequality. The Pareto criterion would not be widely accepted unless it takes account of moral harms; but if it does take account of moral harms then there is no reason to doubt that egalitarian concerns can be incorporated into the Pareto argument. (shrink)

The paper deals with three interrelated Pareto’s contributions to fiscal sociology of relevant contemporary importance, i. e., the maximum of utility of the community as a sociological process (Pareto II criterion of maximum welfare), the non logical actions consisting of derivations based on residuals and the theory of the elites. Pareto II welfare criterion of sociological maximization of individual utilities is compared with Pareto I welfare criterion, commonly known as Pareto criterion, introducing the process of (...) valuations by the elite of the utilities of different social groups weighed according to their residuals. Derivations are essentials to persuade the masses to move to the points designed by the elite. The process is subject to the law of circulation of the elites which leads to different sociological equilibriums. The theories of the elites of Pareto and Mosca, criticized by Einaudi, are then compared. For a disenchanted analysis of the fiscal processes and designs, Pareto’s sociology may still provide to the economist more than a help. (shrink)

This article investigates the relationship among the weak Pareto principle, the strong Pareto principle, and positive responsiveness in the context of voting. First, it is shown that under a mild domain condition, if an anonymous and neutral collective choice rule (CCR) is complete and transitive, then the weak Pareto principle and the strong Pareto principle are equivalent. Next, it is shown that under another mild domain condition, if a neutral CCR is transitive, then the strong (...) class='Hi'>Pareto principle and positive responsiveness are equivalent. By applying these results, we obtain a new characterization of the method of majority decision. (shrink)

The purpose of the paper is a discussion of the meaning and relevance of the Pareto principle in economics. To begin with, the principle is briefly retraced in Pareto’s own writings. Its contemporary meaning was, however, developed in the context of the “New Welfare Economics”. While Pareto technically employed the principle in order to describe an equilibrium situation, Kaldor and Hicks developed it somewhat differently as a yardstick for economic policy formulation. Sometimes, the principle is also discussed (...) as a decision rule, and in this context some critics - though not the present author - believe it to have a conservative bias. Finally, recent discussions center around the incompatibility of the Pareto principle and “liberal” values. This conflict might be of limited relevance, only, due to a misconstrued formalism. (shrink)

The concept of ‘pareto superiority’ plays a central role in ethics, economics, and law. Pareto superiority is sometimes taken as a relation between outcomes, and sometimes as a relation between actions—even where the outcomes of the actions are uncertain. Whether one action is classed as (ex ante) pareto superior to another depends on the prospects under the actions for each person concerned. I argue that a person’s prospects (in this context) can depend on how that person is (...) designated. Without any constraints on acceptable designators, then, the concept of pareto superiority is ill defined and gives inconsistent results. I consider various ways of completing the definition and draw out some surprising implications. (shrink)

We consider situations of multiple referendum: finitely many yes-or-no issues have to be socially assessed from a set of approval ballots, where voters approve as many issues as they want. Each approval ballot is extended to a complete preorder over the set of outcomes by means of a preference extension. We characterize, under a mild richness condition, the largest domain of top-consistent and separable preference extensions for which issue-wise majority voting is Pareto efficient, i.e., always yields out a (...) class='Hi'>Pareto-optimal outcome. Top-consistency means that voters’ ballots are their unique most preferred outcome. It appears that the size of this domain becomes negligible relative to the size of the full domain as the number of issues increases. (shrink)

Pareto isn't interested in the nature of politics but in the political society and in its equilibrium. The method he finally adopted, after some hesitations, is the one he tested in his economical and sociological research work. Analysing the changing of the elites, he stresses the importance of the minority that is in power. However the decline of an oligarchy is always concomitant with the coming up of another one. As far as Pareto's personal political stand is concerned (...) he was neither a fascist nor a democrat but a liberal. This is revealed by a careful analysis of his works, from the first to the last of his writings. (shrink)

In searching for an appropriate utility function in the expected utility framework, we formulate four properties that we want the utility function to satisfy. We conduct a search for such a function, and we identify Pareto utility as a function satisfying all four desired properties. Pareto utility is a flexible yet simple and parsimonious two-parameter family. It exhibits decreasing absolute risk aversion and increasing but bounded relative risk aversion. It is applicable irrespective of the probability distribution relevant to (...) the prospect to be evaluated. Pareto utility is therefore particularly suited for catastrophic risk analysis. A new and related class of generalized exponential (gexpo) utility functions is also studied. This class is particularly relevant in situations where absolute risk tolerance is thought to be concave rather than linear. (shrink)

In his sociological works Pareto developed a theory of cyclical social change within the general equilibrium framework. Building on an earlier propositional formalization, we translate Pareto's theory into a series of simultaneous equations and simulate the equation system. The dynamic behavior of the simulation is consistent with Pareto's predictions and demonstrates the internal logic of the theory.

Although Pareto is considered a 'founding father' of both sociology and mathematical economics, his contribution to political theory has been largely neglected. This new book fills this gap by offering a critical examination of Pareto's significance for political theory." "Joseph V. Femia builds a case for Pareto's importance as a thinker who reflected on the most fundamental issues of political discourse: individualism vs. holism; science vs. hermeneutics; laissez faire vs. social engineering; and value relativism vs. moral absolutism. (...) In all these debates, Pareto offered provocative insights." "This text will be of interest to students and scholars of Political Philosophy, Sociology and History."--Jacket. (shrink)