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)

In recent years, ‘nudge’ theory has gained increasing attention for the design of population-wide health interventions. The concept of nudge puts a label on efficacious influences that preserve freedom of choice without engaging the influencees’ deliberative capacities. Given disagreements over what it takes genuinely to preserve freedom of choice, the question is whether health influences relying on automatic cognitive processes may preserve freedom of choice in a sufficiently robust sense to be serviceable for the moral evaluation of actions and policies. (...) In this article, I offer an argument to this effect, explicating preservation of freedom of choice in terms of choice-set preservation and noncontrol. I also briefly explore the healthcare contexts in which nudges may have priority over more controlling influences. (shrink)

A nexus of imperfect duty, defined as positive commitments that have practical limits, describes business behavior toward building affable and virtuous relations, maintaining reasoned social discourse, and performing the due diligence necessary for making knowledgeable business decisions. A theory of the development and extent of the limits of these imperfect managerial duties is presented here, a theory that in part explains the activities and personnel included under the firm’s umbrella. As a result, the nexus of imperfect duty is shown to (...) complement the perfect-duty-based nexus-of-contracts theory of the firm. The existence of flexible trade-offs involving these duties, trade-offs limited by contractual arrangements whether explicit or implicit, is shown to be one of the advantages of imperfect duty for developing business relations. (shrink)

It is argued here that business firms can and do provide an incubator that enables the Aristotelian category of friendships of advantage to develop into friendships of virtue. This contradicts other literature that views acquaintances of utility as the business norm, and expresses pessimism concerning more advanced virtuous development of friendship within the business firm. It is argued here, however, that this virtuous development is integral to the Kantian social aim of pursuing a moral community, an aim which declares the (...) appropriate moral motivation for business, and that certainly should incorporate a role for developing virtuous relations as a component of that pursuit. An atmosphere that encourages the development of relations of virtue is feasible, exists in real business, and is optimal for pursuit of moral business communities. (shrink)

The societal benefits derived from competitive markets certainly depend upon participants conforming to generally accepted notions of moral duty. These notions include negative duties such as those against fraud, deception, and coercion and also positive duties such as those that favor beneficence but with limits. This investigation examines the extent that product, capital, and internal-labor markets are capable of imposing conformance to society’s expectations of duty through both formally and informally organized boycotts. A categorization of classic and recent boycotts into (...) those motivated by (i) establishing new norms, or (ii) enforcing existing generally accepted norms is provided. This categorization helps to explain why some boycotts are successful, and others not. Through this exploration, a contribution to the resolution of the so called “Adam Smith problem” concerning the morality-enforcing capability of the invisible hand is offered. (shrink)

The Kantian categorical imperative process of rational reflection and reasoned social discourse is theoretically capable of forming the moral environmental maxims applicable to business. This article argues that rational environmental discourse demands that business has an imperfect duty to develop relevant unbiased information, and perhaps to disseminate this information through participation in business-public coalitions. For the environmental problem, this “rationality” particularly concerns our obligations toward future generations and distant people while recognizing that they cannot participate in current discourse, and the (...) rules for gathering and assessing the evidence that should govern our environmental preservations and enhancements. Both these concerns demand certain scientific information requirements, as well as logical decision criteria that are perceived as stable across both overlapping generations, and affected peoples. The criteria for Rawls’ “considered moral judgments” are shown to apply to resolutions of these business-related ethical conundrums. In a way similar to Kant’s anthropological examinations of humanity’s antisocial behaviors, this article also examines various biases that inhibit this social reasoning. (shrink)

This paper provides a methodologically original construction of Kant’s “Formula of Universal Law” . A formal structure consisting of possible worlds and games—a “game frame”—is used to implement Kant’s concept of a maxim and to define the two tests FUL comprises: the “contradiction in conception” and “contradiction in the will” tests. The paper makes two contributions. Firstly, the model provides a formal account of the variables that are built into FUL: agents, maxims, intentions, actions, and outcomes. This establishes a clear (...) benchmark for understanding how the mechanics of FUL actually work. Secondly, the analysis of the resulting framework sheds new light on discussions about the implications of FUL. On the basis of this, we suggest a move to “comprehensive Kantianism’, which is the application of FUL to systems of maxims rather than to isolated maxims. (shrink)

The article addresses issues at the nexus of physician industrial action, moral agency, and responsibility. There are situations in which we find ourselves best placed to offer aid to those who may be in vulnerable positions, a behavior that is consistent with our everyday moral intuitions. In both our interpersonal relationships and social life, we make frequent judgments about whether to praise or blame someone for their actions when we determine that they should have acted to help a vulnerable person. (...) While the average person is unlikely to confront these kinds of situations often, those in the medical professions, physicians especially, may confront these and similar situations regularly. Therefore, when physicians withhold their services for whatever reason in support of industrial action, it raises issues of moral responsibility to patients who may be in a vulnerable position. Using theories of moral responsibility, vulnerability, and ethics, this paper explores the moral implications of physician industrial action. We explore issues of vulnerability of patients, as well as the moral responsibility and moral agency of doctors to patients. Determining when a person is vulnerable, and when an individual becomes a moral agent, worthy of praise or blame for an act or non-action, is at the core of the framework. Notwithstanding the right of physicians to act in their self-interest, we argue that vulnerability leads to moral obligations, that physicians are moral agents, and the imperatives of their obligations to patients clear, even if limited by certain conditions. We suggest that both doctors and governments have a collective responsibility to prevent harm to patients and present the theoretical and practical implications of the paper. (shrink)

Immanuel Kant (1724–1804) argued that moral requirements are based on a standard of rationality he dubbed the “Categorical Imperative” (CI). Immorality thus involves a violation of the CI and is thereby irrational. Other philosophers, such as Locke and Hobbes, had also argued that moral requirements are based on standards of rationality. However, these standards were either desirebased instrumental principles of rationality or based on sui generis rational intuitions. Kant agreed with many of his predecessors that an analysis of practical reason (...) will reveal only the requirement that rational agents must conform to instrumental principles. Yet he argued that conformity to the CI (a non-instrumental principle) and hence to moral requirements themselves, can nevertheless be shown to be essential to rational agency. This argument was based on his striking doctrine that a rational will must be regarded as autonomous, or free in the sense of being the author of the law that binds it. The fundamental principle of morality — the CI — is none other than the law of an autonomous will. Thus, at the heart of Kant's moral philosophy is a conception of reason whose reach in practical affairs goes well beyond that of a Humean ‘slave’ to the passions. Moreover, it is the presence of this self-governing reason in each person that Kant thought offered decisive grounds for viewing each as possessed of equal worth and deserving of equal respect. (shrink)

The phenomenon of weakness of will – not doing what we perceive as the best action – is not recognized by neoclassical economics due to the axiomatic assumptions of the revealed preference theory (RPT) that people do what is best for them. However, present bias shows that people have different preferences over time. As they cannot be compared by the utility measurements, economists need to normatively decide between selves (short- versus long-term preferences). A problem is that neoclassical economists perceive RPT (...) as value-free and incorporate present bias within the economic framework. The axiomatic assumption that people do what is best for them leads to theoretical and practical dilemmas. This work examines weakness of will to resolve some shortcomings of RPT. The concept of intention is used to provide multiple self conception with the framework to decide between selves, which had not been done before. The paper concludes that individuals should not always follow their revealed preferences (desires) but the intentions (reason) because the latter indicates what people really want. (shrink)