This paper interprets Karl Polanyi through dialectical critical realism. The paper maintains that this interpretation offers Polanyi methodological coherence and philosophical support. It further provides dialectical critical realism with an exemplar of explanatory critique. It is argued that the social theory of Polanyi aims at the demystification of market-systems as they are theoretically constructed by both orthodox and heterodox accounts of capitalism. Dialectical critical realism is best capable of situating the theoretical accomplishment of Polanyi’s historical and dialectical critiques of social (...) being. (shrink)

This article proposes an interpretation of the chapters of theNicomachean Ethicsconcerning exchange and friendship. Rejecting approaches where Aristotle anticipates modern labour or need-based theories of value, the article claims that those notions of labour and need are required for a satisfactory interpretation of the most obscure passages of Book V. Finally, Aristotle's texts on exchange and friendship are related in such a way that the latter, since it is free from any political considerations, allows us to better understand the philosopher's (...) view on exchange. (shrink)

Stakeholder theory is an important part of modern business ethics. Many scholars argue for a normative instead of an instrumental approach to stakeholder theory. Recent examples of such an approach show that problems appear with respect to the ethical foundation as well as the specification of the norms and the relation between corporate and individual responsibilities. This paper argues for the relevance of Aristotle's ideas on ethics and politics, and especially the link between them, for stakeholder theory. An Aristotelian approach (...) suggests that the corporation should be considered as existing to allow the decision maker, who normally is a manager, to live a complete and good life and to make decisions that involve the interests of different stakeholders. This approach leads to a number of implications regarding the role of organizational politics and the managerial function. (shrink)

It is generally agreed that the current methods of providing health care in the West need to be reformed. Such reforms must operate within the practical limitations to which any future system of health care will be subject. These limitations include an increase in the demand for costly end-of-life health care coupled with a reduction in the proportion of the population who are working taxpayers (and hence a reduction in the proportionate amount of health care funding that can be secured (...) through taxation) and the fact that the imposition of bureaucratic regulations on health care systems is costly. Recognizing these limitations should naturally lead one to consider market-based reforms. Yet despite the practical impetus for such reforms, there is still widespread concern that market-based health care is unethical. The purpose of this paper is to address this concern and, in so doing, to pave the way for the market-based reform of health care to proceed. (shrink)

This paper presents and illustrates the concept of sustainable corporate finance. Sustainability is a well-established concept in the disciplines of environmental economics and business ethics. The paper uses a broader definition of what is called the firm to pinpoint sustainability to the finance literature. The concept of sustainable finance is compared to traditional and behavioral finance. Four criteria are used to systematically analyze the basic differences. First on the order is the theory of the firm: the definition of the firm (...) is reconsidered by integrating behavioral aspects and by expanding financial analysis to a three-dimensional goal setting. Secondly, a closer look is taken at the assumed behavior of economic agents and its consequences for the applied methodology. The shareholders paradigm is discussed against the background of growing stakeholder importance. Finally, the fourth criterion deals with the different ethical framework and its implication for financial behavior. (shrink)

The notion that business organizations are akin to Aristotelian political communities has been a central feature of research into virtue ethics in business. In this article, I begin by outlining this “community thesis” and go on to argue that psychological research into the “just world fallacy” presents it with a significant challenge. The just world fallacy undermines our ability to implement an Aristotelian conception of justice, to each as he or she is due, and imperils the relational equality required for (...) shared participation in communities. In the final section, I offer a description of what Aristotelian community might look like within organizations, and some suggestions about how it may be possible to resist the challenge posed by the just world fallacy. (shrink)

Pricing policies and fair-trade practices are critical for sustaining commercial relationships between firms and customers. Nevertheless, in current business practices, fairness has been mistakenly reduced to a minimalistic ethic wherein justice only demands legal and explicit norms to which commercial parties voluntarily agree. Aimed at giving a different explanation of commercial agreements, this paper will introduce a Virtue Ethics (VE) explanation of the relationship between pricing and the common good by taking up classical concepts related to justice in commerce. In (...) particular, we will explore three principles associated with the notion of fairness in commerce as defined in Neo-Aristotelian ethics towards a relationship between a common good and justice in pricing, i.e., proportionality, benevolence and well-being. To exemplify how these criteria of justice apply to decision-making in commercial practices, we will discuss several cases of fair and unfair commercial relationships. (shrink)

This paper reviews Aristotle’s problematic relationship with modern economic theory. It argues that in terms of value and income distribution theory, Aristotle should probably be seen as a precursor to neither classical nor neoclassical economic thought. Indeed, there are strong arguments to be made that Aristotle’s views are completely at odds with all modern economic theory, since, among other things, he was not necessarily concerned with flexible market prices, opposed the use of money to acquire more money, and did not (...) think that the unintended consequences of human activity were generally beneficial. The paper argues however, that this interpretation goes too far. The Benthamite neoclassical theory of choice can be seen as a dumbing down of Aristotle’s theory, applicable to animals, not humans. Adam Smith and Karl Marx were deeply influenced by Aristotle’s work and both started their main economic works with Aristotle: Smith ultimately rejecting, and Marx ultimately developing Aristotle’s views of the use of money to acquire more money. Possibilities for the future development of a new Aristotelian Economics are explored. (shrink)

This paper explores the relationship between revolution and corruption in Jean Genet’s accounts of the Palestinian movement in his final work, Prisoner of Love. For Genet, corruption does not simply expose the actions of a revolutionary subject as an empty impersonation, performed for the actual ends of acquiring personal power and fortune. Rather, it exposes the ‘pretension’ inherent in the revolution it undermines as well as in the accumulation of value. For Genet, the misappropriation of money by the Palestinian leadership (...) makes manifest the imaginary character of both devotion to a revolutionary cause and greed for the commodity-fetish. Corruption, in other words, betrays revolution as well as the ‘imaginary wealth and power’ which the ‘game of revolution’ attempts to destroy. (shrink)

Realism has been a central object of attention among analytical philosophers for some decades. Starting from analytical philosophy, the return of realism has spread into other contemporary philosophical traditions and given birth to new trends in current discussions, as for example in the debates about “new realism.” Discussions about realism focused on linguistic meaning, epistemology, metaphysics, theory of action and ethics. The implications for politics of discussion about realism in action theory and in ethics, however, are not much discussed.

Scholarship on Aristotle’s NICOMACHEAN ETHICS (hereafter “the Ethics”) flourishes in an almost unprecedented fashion. In the last ten years, universities in North America have produced on average over ten doctoral dissertations a year that discuss the practical philosophy that Aristotle espouses in his Nicomachean Ethics, Eudemian Ethics, and Politics. Since the beginning of the millennium there have been three new translations of the entire Ethics into English alone, several more that translate parts of the work into English and other modern (...) languages, and half a dozen collections of new articles discussing Aristotle’s Ethics. Such an outpouring of scholarship has produced an almost unmanageable wave of books, articles, and reviews. Through my topical bibliography, I seek to organize this wealth of scholarly writing so as to make it manageable both to scholars working across the disciplines of philosophy, classics, history, and politics, and to scholars pursuing theses on specific topics within the Ethics. The bibliography takes as its model and is much indebted to that compiled by Barnes, Schofield, and Sorabji in their Articles on Aristotle, Volume 2: Ethics and Politics (1977), which was further updated and incorporated into the complete bibliography to all of Aristotle’s writings in Barnes’s Cambridge Companion to Aristotle (1995). Although I have taken guidance from their model, my bibliography differs in one main respect. Whereas Barnes et al. were more selective and annotated their bibliography, I have been more comprehensive in my inclusion of items. I have sought to include all books and journal articles concerned with the Ethics written in English over the last 120 years; additionally, I have sought to include representative and central works of scholarship written on the Ethics in French, German, and Italian during the same period of time. (shrink)

This article aims at showing the need for a sound ethical and anthropological foundation of economics and business, and argues the importance of a correct understanding of human values and human nature for the sake of economics and of businesses themselves. It is suggested that the ethical-anthropological side of economics and business can be grasped by taking Aristotle’s virtue ethics and Amartya Sen’s capability approach (CA) as major reference points. We hold that an “Aristotelian economics of virtues”, connected with the (...) CA’s notion of human richness, can promote the shift to the concept of personhood, and can lead to a more “humanized” business, by fostering human flourishing, the enhancement of human capabilities, and the pursuit of a more humane development for each and every person. (shrink)

As a philosopher, whose theory about economics and business is systematically connected to a moral and political philosophy, Aristotle provides a rich conceptual framework to reflect upon personal wellbeing, the wealth of households, and the welfare of the state. Even though Aristotle has mainly been portrayed as an enemy of business, interest in his teachings has been on the rise among management scholars. Several articles have examined Aristotle's position with regard to current managerial approaches such as total quality management, knowledge (...) management, crisis management, and networking. Even though Aristotle is a constant reference point for business ethics scholars, only rarely have there been attempts to see what consequences his thinking would have for reorienting business philosophy and organizational strategy. In this study, we wiD outline how Aristotle's theory of household management can be applied to the management of modern corporations. We argue that conceptions of chrematistike and oikonomia provide a basis to discuss the relationship between business and society and to draw important conclusions for business management. (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)

Modality and Anti-Metaphysics critically examines the most prominent approaches to modality among analytic philosophers in the twentieth century, including essentialism. Defending both the project of metaphysics and the essentialist position that metaphysical modality is conceptually and ontologically primitive, Stephen McLeod argues that the logical positivists did not succeed in banishing metaphysical modality from their own theoretical apparatus and he offers an original defence of metaphysics against their advocacy of its elimination. -/- Seeking to assuage the sceptical worries which underlie modal (...) anti-realism, McLeod provides an original contribution to essentialist epistemology, engaging with current debates about modality and suggesting that standard essentialist approaches to some issues in the philosophies of logic and language require revision. -/- This book offers valuable insights to professional philosophers, postgraduates and advanced undergraduates interested in metaphysics, philosophy of logic or the history of twentieth-century analytic philosophy. (shrink)

This dissertation undertakes a philosophical analysis of “natural capital” and argues that this concept has prompted economists to view Nature in a radically novel manner. Formerly, economists referred to Nature and natural products as a collection of inert materials to be drawn upon in isolation and then rearranged by human agents to produce commodities. More recently, nature is depicted as a collection of active, modifiable, and economically valuable processes, often construed as ecosystems that produce marketable goods and services gratis. Nature (...) is depicted as consisting of various unproduced mechanisms or “natural machines” that are first discovered and then channeled so as to serve human ends. In short, nature as an ideal is a kind of garden that is characterized by natural objects purposefully arranged by intentional human agents. This dissertation first lays out working definitions of the key terms, such as capital and Nature, and then traces the historical roots of natural capital in the writings of eminent classical political economists, such as Adam Smith, John Stuart Mill, and Karl Marx. I then examine the question of substitutes for “critical natural capital”, and argue that the preservation paradox is warranted: no one can restore or preserve a part of Nature without turning it into an artifact. Following the recent work of Debra Satz and Michael Sandel, I finish my dissertation by situating the question of natural capital in the broader context of whether some goods should not be for sale, particularly those I define as Basic Ecological Goods. (shrink)

Normal 0 false false false EN-US X-NONE X-NONE Normal 0 false false false EN-US ZH-TW X-NONE It is commonly believed that impartial utilitarian moral theories have significant demands that we help the global poor, and that the partial virtue ethics of Mencius and Aristotle do not. This ethical partiality found in these virtue ethicists has been criticized, and some have suggested that the partialistic virtue ethics of Mencius and Aristotle are parochial (i.e., overly narrow in their scope of concern). I (...) believe, however, that the ethics of Mencius and Aristotle are both more cosmopolitan than many presume and also are very demanding. In this paper, I argue that the ethical requirements to help the poor and starving are very demanding for the quintessentially virtuous person in Mencius and Aristotle. The ethical demands to help even the global poor are demanding for Mencius’ jun-zi ( 君子 chün-tzu / junzi ) and Aristotle’s megalopsuchos . I argue that both the jun-zi and megalopsuchos have a wide scope of concern for the suffering of poor people. I argue that the relevant virtues of the jun-zi and megalopsuchos are also achievable for many people. The moral views of Mencius and Aristotle come with strong demands for many of us to work harder to alleviate global poverty. . (shrink)