Economics and Policy

The ‘limits of markets’ debate broadly concerns the question of when it is (im)permissible to have a market in some good. Markets can be of tremendous benefit to society, but many have felt that certain goods should not be for sale (e.g., sex, kidneys, bombs). Their sale is argued to be corrupting, exploitative, or to express a form of disrespect. In Markets without Limits, Jason Brennan and Peter Jaworski have recently argued to the contrary: For any good, as long as (...) it is permissible to give it for free, then it is permissible to give it for money. Their thesis has led to a number of engaging objections, and I leverage recent work on the nature of feasibility within political philosophy to offer a new challenge. I argue that feasibility offers a constraint on which markets can be permissibly implemented. Though it may be possible to create a morally acceptable version of an otherwise repugnant market, some of these markets may be infeasible, and so we are not permitted to implement them. After laying out this challenge, I consider several replies. They concern the relevance of feasibility, and whether any markets really are infeasible. This provides an opportunity to explore the dangers of pursuing the infeasible and with markets generally. I conclude by considering what might lead us to pursue these markets despite their infeasibility, or how knowledge of infeasibility may prove useful regardless. (shrink)

This article presents two related challenges to the idea that, to ensure policy evaluation is comprehensive, all costs and benefits should be aggregated into a single, equity-weighted wellbeing metric. The first is to point out how, even allowing for equity-weighting, the use of a single metric limits the extent to which we can take distributional concerns into account. The second challenge starts from the observation that in this and many other ways, aggregating diverse effects into a single metric of evaluation (...) necessarily involves settling many moral questions that reasonable people disagree about. This raises serious questions as to what role such a method of policy evaluation can and should play in informing policy-making in liberal democracies. Ultimately, to ensure comprehensiveness of policy evaluation in a wider sense, namely, that all the diverse effects that reasonable people might think matter are kept score of, we need multiple metrics as inputs to public deliberation. (shrink)

Opracowanie ma charakter poglądowo-teoretyczny, powstało bowiem na podstawie przeglądu dostępnej literatury przedmiotu. Publikacja skierowana jest zarówno do naukowców jak i studentów zajmujących się tematyką starzenia się ludności, starości i osób starszych oraz do coraz szerszego grona zainteresowanych tymi zagadnieniami praktyków, w tym polityków i decydentów oraz reprezentantów usług publicznych, przedstawicieli mediów i organizacji pozarządowych. ** The study is illustrative and theoretical in nature, as it was based on a review of the available literature on the subject. The publication is addressed (...) to both scholars and students dealing with the subjects of population ageing, old age, and older adults, as well as to a growing group of practitioners interested in these issues, including politicians and decision-makers as well as representatives of public services, the media, and non-governmental organizations. (shrink)

Research on public value is inevitable interdisciplinary in its nature due to its aim and purpose. Both philosophical and empirical approaches are necessary to conduct such research in a successful manner. In the present paper, I intend to discuss the importance of empirical approaches in research on public values, particularly psychological and neuroscientific approaches with concrete examples. I proposed that such empirical approaches are essential in better understanding the processes and mechanisms associated with how people address issues engaging in public (...) value in the modern society. Also, I overviewed how the psychological and neuroscientific approaches contribute to practical aspects related to public value, such as policy making and education. Based on the aforementioned points, I briefly discussed directions for future research in research on public value as an interdisciplinary field. (shrink)

Artykuł zawiera przegląd wybranych powiązań pandemii COVID-19 z teoriami ryzyka. W pierwszej kolejności przedstawiono podstawowe pojęcia dotyczące przygotowania i mobilizowania sieci podmiotów polityki publicznej do wspólnych działań w warunkach niepewności. W dalszej części omówiono zagadnienie gotowości na ryzyko wystąpienia pandemii i jej zwalczania. Następnie przedstawiono wybrane możliwe efekty społeczne, gospodarcze i polityczne pandemii COVID-19. W podsumowaniu wskazane zostały rekomendacje dotyczące zarządzania podmiotami publicznymi na dalszych etapach rozwoju pandemii i w okresie po pandemii oraz propozycje dalszych kierunków badań. // The article (...) presents an overview of selected connections of the COVID-19 pandemic with risk theories. The study first explores the basic concepts of preparing and mobilizing networks of public policy actors to act together under conditions of uncertainty. The following section discusses the pandemic risk preparedness and fighting. Then, selected possible social, economic and political effects of the COVID-19 pandemic are discussed. In summary, recommendations regarding the public management in the further stages of the pandemic development and in the post-pandemic period were indicated, as well as proposals for further research directions. (shrink)

In a recent article, Ethan Bradley and Mark Navin (2021) argue that vaccine refusal is not akin to free riding. Here, I defend one connection between vaccine refusal and free riding and suggest that, when viewed in conjunction with their other arguments, this might constitute a reason to mandate Covid-19 vaccination.

The aim of this work is to illustrate the psychological contributions of Pragmatism and of the Original Institutional Economics, and their relevance for improving the process of social valuing and, as a consequence, the effectiveness of policy action. As a matter of fact, both institutionalist and pragmatist theories were well acquainted with various strands of psychology, and some of them also provided relevant contributions in this respect. Moreover, these theories reveal, along with various differences, significant complementarities, both between themselves and (...) with important concepts of social psychology and psychoanalysis. The work will address the following aspects: The main characteristics of pragmatist psychology with particular attention to their social implications. For space reasons, we will focus attention on the contributions of authors – John Dewey, William James and George Herbert Mead – more oriented to social sciences. The psychological contributions of institutionalism. We will pay particular attention to Thorstein Veblen's theory of instincts and John Rogers Commons' theory of negotiational psychology. We highlight that these theories present, despite a number of differences, relevant complementarities. (shrink)

The books’ goal is to answer the question: Do the weaknesses of value-free economics imply the need for a paradigm shift? The author synthesizes criticisms from different perspectives (descriptive and methodological). Special attention is paid to choices over time, because in this area value-free economics has the most problems. In that context, the enriched concept of multiple self is proposed and investigated. However, it is not enough to present the criticisms towards value-free economics. For scientists, a bad paradigm is better (...) than no paradigm. Therefore, the author considers whether value-based economics with normative approaches such as economics of happiness, capability approach, libertarian paternalism, and the concept of multiple self can be the alternative paradigm for value-free economics. This book is essential reading to everyone interested in the current state of economics as a discipline. (shrink)

This brief note aims to reply to a comment made by Menno Rol abou...

The publication of Guido Calabresi’s book “The Future of Law and Economics” has drawn a substantial amount of attention among law and economics scholars. We thought that the best way to devote special attention to this book was to devote a Special issue to it. This article situates Calabresi’s book among other reflections on the future of the discipline, introduces and explains the reasons behind this Special issue and discuss the organization and content of it. -/- We emphasize how Calabresi’s (...) historical-conceptual standpoint allows him to isolate the stakes of different future developments around the question of how could further appreciation of legal institutions that defy the standard economic assumptions help the field develop theoretically. Overall, the contributors all shared Calabresi’s attempt to restore the balance between Law and Economics and the need to better account for the “whole unanalysed experience of human race”, often neglected by the Economic Analysis of Law approach. Most disagreements are about the ‘how’. In any case, the search for the Law and Economics ‘not (yet) taken’ or for other “Law and … ” approaches is always open to the Future. (shrink)

Despite having a set of well-intended tobacco control policies since 2003, the production and consumption of tobacco in Bangladesh have increased. This paper explains why the tobacco control policies in Bangladesh failed to deliver their intended outcomes. Using a combined framework of political economy and policy implementation analysis, this study examines the information collected from primary and secondary sources. Based on the findings, the paper argues that the game of interests among the stakeholders have made the state institutions inactive and (...) ineffective. Lack of political commitment and politics of interests have failed the implementation and skewed the outcome. (shrink)