Commercial republicanism is the idea that a properly-structured commercial society can serve the republican end of minimizing the domination of citizens by states (imperium) and of citizens by other citizens (dominium). Much has been written about this idea in the last half-century, including analyses of individual commercial republicans (e.g., Adam Smith and Immanuel Kant) as well as discussions of national traditions of the same (e.g., in America, Britain, France, the Netherlands, and Italy). In this chapter, I review five kinds of (...) arguments that have been historically offered for how commercial society so understood advances the republican ideal of non-domination: first, by simply realizing non-dominating relationships in the marketplace itself (Instantiation); second, by encouraging the growth of a wide middle class that can offer a counterweight to other, dominating classes (Internal Check-and-Balance); third, by increasing the wealth and power of republics vis-à-vis other, dominating states in the international arena (External Check-and-Balance); fourth, by helpfully nurturing bourgeois-civic virtues in republican citizens (Cultivating Virtue); and finally, by transforming dangerous passions into more readily regulable, even socially beneficial material interests (Sublimating Vice). I end the chapter by briefly considering commercial republicanism’s prospects as a continuing research program. (shrink)

Using Chinese thought, explores how non-Western thought can structure generally applicable social and political theory. With a particular focus on Chinese thought, this volume explores how, and under what conditions, so-called “non-Western” traditions of thought can structure generally applicable social and political theory. Reversing the usual comparison between “local” Chinese application and “universal” theory, the work demonstrates how Chinese experiences and ideas offer systematic insight into shared social and political dilemmas. Contributors discuss how medieval Chinese understandings of causal heterogeneity can (...) relieve impasses within contemporary historiography, how current economic and social conditions in China respond proactively to the future configuration of world markets, and how hybrid modes of cross-cultural engagement offer new foundations for the enterprise of learning from cultural others. Each chapter works from Chinese perspectives to theorize the location of knowledge, its conditions of production, and the modes through which its content or adequacy is legitimated, challenged, and sustained. Rather than reproducing Eurocentric knowledge production in Chinese form, the mobilization of Chinese thought as a generally applicable body of theory actually breaks down clear boundaries between Chinese and non-Chinese thought. (shrink)

A response to a recent critique by Cem Bozşahin of the theory of syntactic semantics as it applies to Helen Keller, and some applications of the theory to the philosophy of computer science.

In the context of economics, the distinction between ‘the public’ and ‘the private’ has been paralleled with the distinction of ‘public policy’ on the one hand and the ‘private market’ on the other...

The history of the political thought on pleasure is not a cloistered affair in which scholars only engage one another. In political thought, one commonly finds a critical engagement with the wider public and the ruling classes, which are both perceived to be dangerously hedonistic. The effort of many political thinkers is directed towards showing that other political ends are more worthy than pleasure: Plato battles vigorously against Calicles' pleasure seeking in the Gorgias, Augustine argues in The City of God (...) against the human tendency to hedonism in favor of a profound distrust of pleasure, and even Machiavelli claims in The Prince that it is in the prince's best interest to separate his pursuit of pleasure from his pursuit of political power. The thrust of the majority of political thought is to interrupt the popular equation that links pleasure with the good. Instead, political thought has largely followed Plato's lead and has worked to contain hedonism on two fronts. First, pleasure is rigorously separated from ethical and political good: what is good is not identical with what is pleasurable even if the two sometimes overlap. Second, even where the pursuit of pleasure is judged to be coincident with the good, pleasure should only be pursued to the degree it is rational to do so and pursued in the most rational way. Of course, it is not true that all thinkers hold to these two positions on pleasure. Epicureanism and utilitarianism are two major schools of thought that challenge the first precept equating pleasure with the good. Both Epicureanism and utilitarianism argue that the only good is pleasure. However, it is much less frequently that one finds a thinker challenging the second Platonic position that reason must master and guide our pursuit of pleasure—even the Epicureans and utilitarians believe that pleasure is best pursued rationally. However, Foucault has attracted recent attention by challenging the idea that reason should dominate the pursuit of pleasure. (shrink)

Was meint die moderne Wirtschaftswissenschaft, wenn sie von Zukunft redet und Künftiges vorhersagt? Wohin greift sie aus, wenn sie die Zukunft für den Menschen sichern oder offen halten will? Wie ist so etwas wie Zukunft in jener Epoche – dem Griechentum – erfahren und gedacht, in der zuerst die Möglichkeit einer Theoriebildung aufkam und also der Grund für ein Wissen von der Zukunft gelegt wurde? Der vorliegende Band versammelt die Beiträge zu zwei in den Jahren 2013 und 2014 an der (...) Freien Universität Bozen abgehaltenen Kolloquien zum Thema des Verhältnisses von Ökonomie und Zukunft. Die Absicht der Kolloquien wie auch dieser Publikation ist, auf das Fragwürdige jenes Verhältnisses hinzuweisen. In dieser Absicht verlieren die Begriffe „Ökonomie“ und „Zukunft“ ihre Eindeutigkeit und werden ihrerseits fragwürdig. (shrink)

The history of economic thought witnessed several prominent economists who took seriously models and concepts in physics for the elucidation and prediction of economic phenomena. Econophysics is an emerging discipline at the intersection of heterodox economics and the physics of complex systems, with practitioners typically engaged in two overlapping but distinct methodological programs. The first is to export mathematical methods used in physics for the purposes of studying economic phenomena. The second is to export mechanisms in physics into economics. A (...) conclusion is drawn that physics transfer is often justified at the level of mathematical transfer but unjustified at the level of mechanistic transfer. (shrink)

Volume 25, Issue 4, June 2020, Page 494-496.

This paper studies how in his Theory of Moral Sentiments Adam Smith answered to Mandeville on the role of pride and vanity in the economic and social dynamics of commercial societies. We show why vanity supersedes pride in his analysis and how he offers a more positive view of these two passions. We study in particular the economic and social consequences of pride and vanity and describe the psychological foundations of excessive self-esteem that these passions entail.

This article reports the results of an exploratory investigation of a particular area of moral tension experienced by MBA students in a graduate school of business. During the first phase of the study, MBA students'' own perceptions about the moral climate and culture of the business school were examined. The data gathered in this first part of the study indicate that the students recognize that a central part of this culture is constituted by a shared familiarity with a set of (...) institutionally reinforced premises about human behavior and motivation including the ideas that: 1) people are self-interested utility-maximizers, 2) individuals should be unimpeded in their pursuit of their own self-interest through economic transactions, and 3) virtually all human interactionsare economic transactions. The data further indicated that the business students experience a degree of tension between this ethic of self-maximizing and the everyday ethics prevalent in our broader culture, in which altruism and selflessness are central elements. The final section of the study was an effort to see whether and how these institutionally sanctioned premises were integrated into the students'' arguments about the relationship between self-interest and social responsibility. (shrink)

This paper argues that Kant’s concept of ‘respect’ for the moral law has roots in Adam Smith’s concept of ‘regard’ for the general rules of conduct, which was translated as Achtung in the first German translation of the Theory of Moral Sentiments. After illustrating that Kant’s technical understanding of respect appeared relatively late in his intellectual development, I argue that Kant’s concept of respect and Smith’s concept of regard share a basic similarity: they are both a single complex phenomenon with (...) two core aspects, namely an attitude and a feeling. I then suggest that the concept of regard offered Kant a way to deal a problem concerning moral motivation that he was trying to solve at the time he likely first read Smith. I conclude by drawing some implications from the account I have offered for our understanding of Kant’s relation to Smith more generally. (shrink)

I argue that lying in business negotiations is pro tanto wrong and no less wrong than lying in other contexts. First, I assert that lying in general is pro tanto wrong. Then, I examine and refute five arguments to the effect that lying in a business context is less wrong than lying in other contexts. The common thought behind these arguments—based on consent, self-defence, the “greater good,” fiduciary duty, and practicality—is that the particular circumstances which are characteristic of business negotiations (...) are such that the wrongness of lying is either mitigated or eliminated completely. I argue that all these “special exemption” arguments fail. I conclude that, in the absence of a credible argument to the contrary, the same moral constraints must apply to lying in business negotiations as apply to lying in other contexts. Furthermore, I show that for the negotiator, there are real practical benefits from not lying. (shrink)

I examine the foundations of a just society using the lens of decision theory. The conception of just society is from an individual’s viewpoint: where would I rather live if I have an equal chance of being any individual? Three alternative designs for a just society are examined. These are: laissez-faire, maximin and social minimum. Two assumptions about human nature clarify the distinction among three societies. The first assumption is that a representative individual’s utility function is concave. The second assumption (...) recognizes that redistribution to achieve equality reduces total wealth. A rational individual would prefer a society where one is free to maximize one’s expected utility. A social minimum that includes both the provision of essential human needs and equality of opportunity (education, healthcare, access to capital) for a flourishing life emerges as a candidate solution for the basic structure of society. (shrink)

ABSTRACT This paper has three main aims. First, to make good on recent suggestions that Adam Smith offers a genealogy of the origins of religious belief. This is done by offering a systematic reconstruction of his account of religion in The Theory of Moral Sentiments, demonstrating that Smith there offers a naturalised account of religious belief, whilst studiously avoiding committing himself to the truth of any such belief. Second, I seek to bring out that Smith was ultimately less interested in (...) the truth of religious beliefs than in evaluating and understanding the place of religion in healthy ethical living. Third, I put Smith’s account into contrast with the more famous treatment offered by Nietzsche (as well as Bernard Williams’s later, Nietzschean, reflections), and suggest that Smith offers us the more plausible picture of both religion and morality, a finding of both historical and contemporary philosophical import. (shrink)

Criticism and sarcasm are interspersed with description and analysis throughout Marx's work. Most of the criticism is aimed at one or another side of a single target: what Marx sees as capitalism's pretensions of freedom, equality, and prosperity in the face of exploitation and recurrent crises. But the remarks on commodity fetishism in the first volume of Capital seem to be directed at a different target. Here Marx tells us that a commodity is ‘a queer thing, abounding in metaphysical subtleties (...) and theological niceties.’ But instead of going on to reveal the nature of commodites-the task that occupies him for the preceding 30 and subsequent 700 pages-Marx takes the opportunity to explore their ‘mystical’ character. The passage repays careful consideration. It is one of the few places in his mature writings in which Marx returns to the tone of his youthful works. It is also the passage in which commentators have claimed to find grounds for attributing a doctrine of ‘false consciousness’ to Marx. (shrink)

(2013). Money and the Local Economy. World Futures: Vol. 69, Reclaiming Free Enterprise: The Scientific and Human Story, pp. 515-530.

To live in human community is, in part, to owe debts to others and to be owed in return. How should we evaluate, normatively, the varied forms, practices, institutions, and relationships of debt? Which should be constrained and which accepted or encouraged? These questions have far-reaching implications given the pervasiveness of debt within human experience. This paper brings the resources of the capabilities approach developed by Amartya Sen and Martha Nussbaum to bear on normative assessments of debt. Our thesis is (...) that the theoretical resources provided by this approach can help philosophers to examine the wide range of costs and benefits afforded by actual debts. We examine six contemporary examples of debt, arguing that the capabilities approach offers a nuanced and holistic framework for evaluating each. The framework is nuanced in that it provides resources for conducting fine-grained analyses of different cases and related policy proposals. It is holistic in that it takes into account more than a narrow range of either positive or negative considerations, instead encompassing the wide array of debt’s bodily, cognitive, and social impacts upon individuals. (shrink)

SummaryThis article addresses how and why the Dutch translation of Forbonnais's Elémens de commerce came about and the reasons for its lack of success. It explores the context in which the Utrecht printers and booksellers Spruit and Haanebrink in 1771 published a Dutch version of the first edition of the Elémens. In the preceding decades the deteriorating wealth and power of the Dutch Republic had become a major theme in the transnational debates on political economy. Recent research has established that (...) Dutch authors contributed to this debate as well, initially by propagating neutrality of trade in combination with an attempt reform the staple market system, but increasingly by arguing the necessity of another type of economy. Inspired by foreign examples, a movement of reformative patriotism emerged, advocating a more balanced economy in which international commerce stimulated mature agricultural and industrial sectors. This type of political economy could be found in Forbonnais's Elémens and may have triggered its rendering into Dutch. It was the first in a series of translations instigated by Hendrik van den Heuvel, the organiser of economic patriotism in the Dutch Republic. Spruit and Haanebrink dedicated the Dutch version of the Elémens to him and mentioned Van den Heuvel's recommendation of the French original. The fact that the intended buyers, economic patriots, were able to read the Elémens in French, may have precluded a big sale of the title, but the poor quality of the translation did not help either. However, one should not conclude that the Dutch reading public was not interested in the Elémens. In 1780 Van den Heuvel still recommended another edition in a better translation. Other sources, such as Dirk Hoola van Nooten's Dutch version of Condillac's Le commerce et le gouvernement considérés relativement l'un à l'autre, suggest that Forbonnais's ideas were acknowledged. (shrink)

Volume 25, Issue 4, June 2020, Page 493-494.

Over the last generation, American Business Ethics has focused excessively on the process of managerial decision-making while ignoring the collective impact of these decisions and avoiding other approaches that might earn the disapproval of corporate executives. This narrowness helped the field establish itself during the 1980s, when American management, under pressure from finance and heightened competition, was unreceptive to any limitations on its autonomy. Relying, however, on top-down approaches inspired by Aristotle, Locke, and Kant, while ignoring the consequentialism of Mill (...) and Rawls, made the field totally reliant upon the good will of these same corporate executives for generating any impact. Trends in employee compensation, finance, regulation, government procurement, and taxpayer subsidies suggest that Business Ethics has failed to significantly influence corporate behavior, a result that would have not surprised the realists of the post-war generation of Business and Society scholars. If Business Ethics is to prove relevant in the contemporary world, the field needs to acknowledge past failures and develop new approaches. The decline of American economic hegemony coupled to the increased internationalization of the discipline may create the opportunity to do so. (shrink)

Although the architectonic of Plato’s best city is dazzling, some critics find its detailed prescriptions inimical to human freedom and well-being. Most notably, Karl Popper in The Open Society and its Enemies sees it as a proto-totalitarian recipe, choking all initiative and variety out of the citizenry. This essay does not directly respond to Popper’s critique but instead spotlights a strand in the dialogue that positions Plato as an advocate of regulatory relaxation and economic liberty to an extent otherwise unknown (...) in the ancient world and by no means unopposed in ours. His contribution to liberal political economy thereby merits greater attention and respect. (shrink)

Academic and corporate research departments alike face a crucial dilemma: to exploit known frameworks or to explore new ones; to specialize or to innovate? Here I show that these two conflicting epistemic desiderata are sufficient to explain pluralistic ignorance and its boom-and-bust-like dynamics, exemplified in the collapse of the efficient markets hypothesis as a modern risk management paradigm in 2007. The internalist nature of this result, together with its robustness, suggests that pluralistic ignorance is an inherent feature rather than a (...) threat to the rationality of epistemic communities. (shrink)

While many philosophers have found Hegel's critique of Kantian ethics to be interesting in certain respects, overall most tend to find it rather shallow and to think that Hegel either misunderstands Kant's thought or has a rather crude understanding of it. For example, in examining the last two sections of Chapter V of the Phenomenology - 'Reason as Lawgiver' and 'Reason as Testing Laws' (where we get an extended critique of the categorical imperative)- Lauer finds Hegel's treatment to be truncated (...) and inadequate.1 The only trouble, though, is that like most other readers of the Phenomenology, Lauer does not recognize that Hegel had been examining and criticizing Kantian ethics throughout a much greater part of-indeed, more than half of-Chapter V. Once we do understand this, I think we must concede that Hegel's treatment is hardly truncated and that it cannot be described as shallow or inadequate. I will try to show that Hegel demonstrates a rather sophisticated understanding of, and gives a serious and thorough critique of, Kantian practical reason. (shrink)

This paper analyses the broad methodological structure of population-biological theorising. In it, I show that the distinction between initial exploratory, hypothesis-generating research and the subsequent process-reconstructing, hypothesis-testing type of research is not being made. Rather, the hypotheses generated in population biology are elaborated in such detail that students confound the initial research phase with the subsequent hypotheses-testing phase of research. In this context, I therefore analyse some testing procedures within the exploration phase and show that, as an extreme form of (...) confusion, statistical null-models are mistakenly given the status of causal population-biological theory. (shrink)

(2006). Gray’s Elegy for Progress. Critical Review of International Social and Political Philosophy: Vol. 9, The Political Theory of John Gray, pp. 227-241.

As J. Baird Callicott has argued, Adam Smith's moral theory is a philosophical ancestor of recent work in environmental ethics. However, Smith's "all important emotion of sympathy" (Callicott, 2001, p. 209) seems incapable of extension to entities that lack emotions with which one can sympathize. Drawing on the distinctive account of sympathy developed in Smith's Theory of Moral Sentiments, as well as his account of anthropomorphizing nature in "History of Astronomy and Physics," I show that sympathy with non-sentient nature is (...) possible within a Smithian ethics. This provides the possibility of extending sympathy, and thereby benevolence and justice, to nature. (shrink)

The concept of precision medicine aims to tailor treatment based on data unique to the patient. An example is the use of genetic data from malignant tumours to select the most appropriate oncological treatment. The competing interests of utilitarianism and egoism create dilemmas for decisions regarding investment in precision medicine. The need to balance the perceived rights and needs of individuals against those of society as a whole is an on-going challenge in the distribution of limited health service resources. There (...) is need for proper planning, organisation and investment into precision medicine to cope with the consequences of both direct-to-consumer and healthcare-directed genetic testing for genetic counselling, therapeutics and diagnostic networks. Consideration needs to be given to providing adequate time and training to allow for meaningful shared decision-making with patients and there is a strong case in support of a hub-and-spoke model to provide rapid, solid tumour genetic mutational analysis to prevent patients missing out on beneficial treatments. (shrink)

I ask why an increasing number of business scholars today are drawn to an idea of “positive business” that they cannot account for scientifically. I answer that it is because they are attracted to the real mystery of positive business which is its incomprehensible and unspeakable divinity. I begin by asking why the research literature has yet to speak of positive business plainly and with one voice. I find that it lacks for the right words because it comes to human (...) being in business as a science attuned to its objects rather than as a religion attuned to its spirit. Next, I say what I can about the real mystery of business, keeping in mind that we can say about it only what we can say about God. This brings me at last to the Christian insight that human being, in business and everywhere else, is the mystery of Jesus Christ in whom we are reconciled to God. Business is positively human as it invites us to be as Christ, to be a fully human person in joyful communion with others in God. This, in sum, is how to speak plainly and with one voice of the positive business that our hearts desire but our science cannot say. (shrink)

As the need for business to address pressing social and ecological issues intensifies, so does the importance of enhancing the development of sustainable marketing. The current dominant approach to sustainable marketing is based on a Triple Bottom Line (TBL) profit‐centric worldview, which suggests that firms can simultaneously improve their financial well‐being as they reduce negative social and ecological externalities. However, whereas the scope of TBL marketing is limited to sustainability initiatives that enhance profits, there is a growing need for—and interest (...) in—developing a sustain‐centric approach to marketing that relaxes the need to maximize financial well‐being in order to optimize social and ecological well‐being. Even so, because of the dominance of the profit‐centric worldview, hallmarks of sustain‐centric marketing practices remain under‐developed and may even lend themselves to becoming inauthentically mimicked on a piecemeal basis by greenwashing profit‐centric firms. We provide an exploratory empirical study of marketing practices evident in two sustain‐centric firms and draw implications to advance theory for both sustain‐centric and profit‐centric marketing. (shrink)

Whatever ethnic, religious, or other cultural boundaries may have evolved through history, a global corporate culture is increasingly subsuming these traditional divisions. Multinational corporations, internationally linked securities markets, and omnipresent communication networks characterize this global corporate culture. The dynamics of corporate culture centres on the intricate web of contractual relations between stakeholders. This study addresses the question of how these stakeholder contracts can be most efficiently enforced. Three alternative contractual enforcement mechanisms are identified: the legal system, a generally accepted moral (...) code, and stakeholders' desire to build and maintain reputations. Each alternative is critically evaluated and conclusions are drawn as to the relative feasibility and desirability of each enforcement mechanism. (shrink)

Abstract:This paper investigates the broad ideological conflict between world views on corporate culture. Two views are identified: one encompassing standard liberal economic philosophy; the other taking broader notions of corporate culture from ethics theory. The conflict that surrounded the World Trade Organization meeting in Seattle is used as an illustration of the current conflict between these views. The writings of Alasdair MacIntyre are employed as a means of elucidating and reconciling these two world views.

Justification for public funding of academic research is based on the linear model of technological advance first proposed by Francis Bacon. The model hypothesizes that government subsidized science generates new technology which creates new wealth. Mainstream economics supports Bacons model by arguing that academic research is a public good. The Bayh–Dole Act allows universities to privatize federally funded research and development (R&D) which is in direct conflict with the public good argument. Diminishing returns to university R&D, challenges to Bacons linear (...) model and the labor exploitation of young scientists by research universities suggest that policy makers may want to reconsider the system for allocating federal R&D to universities and colleges. (shrink)

The moral intuitions and arguments of some prominent business ethics authors regarding the ethics of monopoly are drenched with contestable economic theory. Discussions too typically ignore theoretical alternatives and debates about the nature of monopolies, their assets and liabilities. I review the theoretical debates and show why they matter to business ethics. That there may be genuine cases of rivalrous monopoly, that monopolies might in the odd circumstance prove more efficient or become advantageous in contests with labor or useful in (...) respect of a nation''s international affairs does not imply we should unwary of monopolies. However, not only the best theory to date, but also the mere fact of serious disagreement in the field suggests that there is no necessary connection between monopolies and practices such as price discrimination, price fixing, bribery, collusion, and so on. This frustrates the most pervasive and most prominent argument so far for the claim that monopolies are intrinsically unethical. (shrink)

Current theories of the division of cognitive labor are confined to the “context of justification,” assuming exogenous theories. But new theories are made from the same labor that is used for developing existing theories, and if none of this labor is ever allocated to create new alternatives, then scientific progress is impossible. A unified model is proposed in which theories are no longer given but a function of the division of labor in the model itself. The interactions of individuals balancing (...) the exploitation of existing theories and the exploration of new theories results in a robust cyclical pattern. (shrink)

Systems Theory analyses the world in terms of communications and divides the natural world into environment and systems. Systems are characterised by their high density of communications and tend to become more complex and efficient with time, usually by means of increased specialisation and coordination of functions. Management is an organisational sub-system which models all necessary aspects of organisational activity such that this model may be used for monitoring, prediction and planning of the organisation as a whole. The function of (...) a specific management system depends on its history of selection by interactions with the environment (which includes other systems). The main function of a management system will be a consequence of the most powerful and sustained selection pressure it has experienced. Systems Theory implies a management science which is quantitative and comparative. It is quantitative because it is based upon the measurement and mapping of communications as the basis of analysis; it is comparative because evaluations relate to specific variables measured in a specific spatio-temporal context and subjected to analytic processes of constrained complexity. Selection processes are broadly responsible for the dominance of management in contemporary Western societies. The complexity of management systems will probably continue to increase for as long as the efficiency-enhancing potential of complexity outweighs its increased transaction costs. (shrink)

For all the recent discoveries of behavioral psychology and experimental economics, the spirit of homo economicus still dominates the contemporary disciplines of economics, political science, and sociology. Turning back to the earliest chapters of political economy, however, reveals that pioneering figures such as Francis Bacon, Thomas Hobbes, and Adam Smith were hardly apostles of economic rationality as they are often portrayed in influential narratives of the development of the social sciences. As we will see, while all three of these thinkers (...) can plausibly be read as endorsing “rationality,” they were also well aware of the systematic irrationality of human conduct, including a remarkable number of the cognitive biases later “discovered” by contemporary behavioral economists. Building on these insights I offer modest suggestions for how these thinkers, properly understood, might carry the behavioral revolution in different directions than those heretofore suggested. (shrink)

In recent decades, neoclassical economists have made heroic efforts to accommodate within the confines of the concept of rational utility maximization the fact that individual behavior is significantly affected by moral considerations. This article argues the merits of using an alternative approach: recognizing that individuals pursue at least two irreducible sources of value or “utility”, pleasure and morality. The possibility that some additional utilities may have to be recognized is explored. This raises the concern that conceptual anarchy will break out, (...) which in turn will force a search for a common denominator, and thus a return to one overarching utility. Arguments are presented to show that this concern is unfounded. The main focus of the article is a criticism of the monoutility conception and a brief for separating the sense of discharging one's moral obligations from all other satisfactions. The article first deals with general conceptual points, and then cites both everyday observations and empirical evidence in support of this position. (shrink)