The paper explores a general framework for thinking about the idea of the just price. The approach is grounded in a basic aspect of the nature of exchange, namely, that the latter usually occurs when both parties believe they will be better off as a result. Put differently, an exchange is normally performed because both parties stand to gain something from it. The distributive question that arises from this observation is how one ought to divide such (...) gains. The connection with the idea of the just price is not necessarily an obvious one, yet it is relatively straightforward. Assuming that an exchange involves money, the price at which two agents transact will correspond to a specific division of the gains from the transaction. Conversely, any specification of a fair division of the gains from exchange individuates a specific price as the just or fair price. The paper analyzes the main features of this approach to the determination of the just price, explains one of its main virtues, defends it against an alleged weakness and criticizes as inadequate two of its traditional interpretations. The upshot of the discussion is that while the idea that the just price of a transaction depends on how the latter divides the gains from exchange does not suffer from general flaws and is in fact characterized by an important good making feature, the two principal ways in which it has been deployed are implausible. (shrink)

The paper explores a general framework for thinking about the idea of the just price. The approach is grounded in a basic aspect of the nature of exchange, namely, that the latter usually occurs when both parties believe they will be better off as a result. Put differently, an exchange is normally performed because both parties stand to gain something from it. The distributive question that arises from this observation is how one ought to divide such (...) gains. The connection with the idea of the just price is not necessarily an obvious one, yet it is relatively straightforward. Assuming that an exchange involves money, the price at which two agents transact will correspond to a specific division of the gains from the transaction. Conversely, any specification of a fair division of the gains from exchange individuates a specific price as the just or fair price. The paper analyzes the main features of this approach to the determination of the just price, explains one of its main virtues, defends it against an alleged weakness and criticizes as inadequate two of its traditional interpretations. The upshot of the discussion is that while the idea that the just price of a transaction depends on how the latter divides the gains from exchange does not suffer from general flaws and is in fact characterized by an important good making feature, the two principal ways in which it has been deployed are implausible. (shrink)

We examined affection-giving, affection-denying, respect-giving, and respect-denying behaviors among men and women in heterosexual relationships. In a pilot study, although we had expected the latent variables of affectionate and respectful behaviors to emerge from exploratory factor analyses, we obtained the latent variables of socioemotional rewards and costs instead. In the main study, we replicated the factor patterns of socioemotional rewards and costs in confirmatory factor analyses. Moreover, we entered men’s and women’s self-reported narcissism alongside men’s and women’s socioemotional rewards (...) and costs, as reported by partners, into a dyadic model that we tested via covariance structure analyses. Results revealed that, although men and women reciprocated rewards as well as costs, narcissism was not reflected in the patterns of reciprocity We discuss implications for studies of relationship processes as two-person group dynamics. (shrink)

The paper examines a specific approach to the idea of the just price. The approach takes its cue from a basic insight about the nature of exchange, namely, that the latter occurs when both parties to the exchange stand to gain something from it. The distributive question that arises from this observation is how, or according to which principle, we ought to divide such gains. The paper rejects two intuitive answers. The first is that (...) the just price is that at which the gains from exchange are equally distributed between the parties. The second is that the just price is the price at which the party that is worse off prior to the transaction gains as much as possible from it. The problem with the former is that it condones exploitation when one of the two parties is vulnerable. The problem with the latter is that it cannot be plausibly generalized to all transactions. The paper then offers a novel alternative that both preserves the intuitive appeal of the approaches that have been criticized and is able to avoid their weaknesses. This can be achieved by accepting an eclectic distributional ethic with a sufficientarian core. (shrink)

Enzymatic misrepair of ionizing‐radiation‐induced DNA damage can produce large‐scale rearrangements of the genome, such as translocations and dicentrics. These and other chromosome exchange aberrations can cause major phenotypic alterations, including cell death, mutation and neoplasia. Exchange formation requires that two (or more) genomic loci come together spatially. Consequently, the surprisingly rich aberration spectra uncovered by recently developed techniques, when combined with biophysically based computer modeling, help characterize large‐scale chromatin architecture in the interphase nucleus. Most results are consistent with (...) a picture whereby chromosomes are mainly confined to territories, chromatin motion is limited, and interchromosomal interactions involve mainly territory surfaces. Aberration spectra and modeling also help characterize DNA repair/misrepair mechanisms. Quantitative results for mammalian cells are best described by a breakage‐and‐reunion model, suggesting that the dominant recombinational mechanism during the G0/G1 phase of the cell cycle is non‐homologous end‐joining of radiogenic DNA double strand breaks. In turn, better mechanistic and quantitative understanding of aberration formation gives new insights into health‐related applications. BioEssays 24:714–723, 2002. © 2002 Wiley Periodicals, Inc. (shrink)

A person’s financial well-being is the complete contentment gained from one’s present financial condition. This has a powerful impact on the entire achievement of an employee’s “well-being.” Researchers, financial analysts, financial planners, educationists, and economists have explored the “enablers” to improve employees’ living standards by investigating the possible “FWB” resources for decades. There is no literature available to show the connection between social capital theory, social exchange theory, social cognitive theory, financial literacy and FWB, and employees’ financial knowledge (...) sharing a moderator to expand the complete FWB. (shrink)

We attempt in this paper to tie together several basic insights of praxeology, and several that are not at all that basic. These include the following: that gains from exchange are subjective; that this applies to profits and interest; that credit transactions can occur under barter; that interest arises from time preference even under a pure time preference theory of interest; and that productivity can, under disequilibrium conditions, affect the various rates of interest.

Western visitors to those parts of the world that before 1991 were politically organized as the Soviet Union have been impressed by the attitudes of persons toward behavior in ordinary exchanges, attitudes that seem to be so different from those in Western economies. The essential elements of an “exchange culture” seem to be missing, and this absence, in itself, may be central to the effective functioning of market economies. Individual participants in ordinary exchange relationships in Western economies (...) act as if they understand the simplest of all economic principles, namely, that there are mutual gains from trade, that the benefits are reciprocal, that exchange is a positive-sum game. This “as if” understanding, which remains perhaps below our level of consciousness in the West, is largely missing from the public attitudes of citizens of the former Soviet Union, who behave as if the gains from trade do not exist, or at least are one-sided rather than mutual. (shrink)

Since the transition to democracy in the early 1990s, economic research and instruction in South Africa have become far more quantitative and technically sophisticated. In this paper, I trace and discuss reasons for these developments, and I argue that this quantification of economics should not be at the expense of exchanges with qualitative data that fail the criterion of being representative, or with other disciplines that are less quantitative. With South Africa’s complex history, persistent inequality and considerable cultural diversity, economics (...) has much to gain from interdisciplinary collaboration and mixed methods research. (shrink)

Males and females of a number of animal species divide labor and provide jointly for offspring. Males may provide food, for example, while females protect defenseless young. This exchange is unlikely, however, unless a prior partnership has been established in which a female practices fidelity in exchange for a male’s provisioning activity. The formation of the trading partnership is itself an exchange, and economic theory can help explain when and why there are mutual gains from (...) trading fidelity for resources. Environmental factors determine the potential gains from trade while evolved psychological mechanisms influence the extent to which gains are realized. (shrink)

In the team context, leaders usually develop differentiated leader-member exchange relationships with employees, resulting in some employees having relatively inferior relationships with the leader than others. Nevertheless, how and when employees with low relative leader-member exchange (RLMX) relationships react toward the leader have been rarely considered in empirical research. Drawing upon social comparison theory, we develop a cross-level moderated mediation model to examine how and when RLMX may lead to employee’s unethical pro-leader behavior (UPLB). We propose that employees (...) with low RLMX would feel envy which in turn motivates them to engage in UPLB in order to gain the rewards and resources that are distributed by the leader. Further, we argue that envy is less likely to motivate low RLMX employees to engage in UPLB when distributive justice climate is high, because high distributive justice indicates that rewards and resources are distributed fairly (based on work contribution rather than engaging in unethical behaviors that please the leader). Data were obtained from 504 employees in 102 divisional teams in a large retail corporation at three time points. Results of the multilevel moderated mediation analysis show that envy mediates the effect of RLMX on UPLB and that the indirect relationship is moderated by team-level distributive justice climate. These findings suggest the importance of adopting a social comparison perspective to understand the negative consequences of RLMX via emotional mechanisms. (shrink)

Early in February 1978, we received the following letter from Lowry Nelson, Jr., professor of comparative literature at Yale University: Regarding the exchange between Professors Martin and Hartman in Critical Inquiry 4 : 397-416, I would like to comment on the use of the institutional adjective "Yale." Labels are naturally sticky and attaching them is a habit and for a time a convenience. It would be unfortunate if the label that reads "the Yale group" or "the Yale critics" (...) were to gain unchallenged currency. So far as I can see, there is nothing that could be called a "school" of criticism here and certainly there is no indoctrination of students of some touted orthodoxy. In literary criticism there is still, and I am confident there will continue to be, a great range of views and interests discussed generally with amicable forthrightness. Versions of Hegel and Freud, revivals of rhetoric, criticism as "literature," and etymological dabbling are not so very new or so very local. This still enlightened academic grove has not and will not become a lucus a non lucendo. (shrink)

Heintz & Scott-Phillips's hypothesis that the topic range and type diversity of human expressive communication gains support from consilience with prior accounts of market exchange as fundamental to unique human niche construction, and of mindshaping as much more important than mindreading. The productivity of the idea is illustrated by the light it might shed on why elephants seem to engage in continuous social communication for little evident purpose.

In the exchange paradox, two players receive envelopes containing different amounts of money. The assignment of the amounts ensures each player has the same probability of receiving each possible amount. Nonetheless, for each specific amount a player may find in his envelope, there is a positive expectation of gain if the player swaps envelopes with the other player, in apparent contradiction with the symmetry of the game. I consider a variant form of the paradox that avoids problems with improper (...) probabilities and I argue that in it these expectations give no grounds for a decision to swap since that decision must be based on a summation of all the expectations. But this sum yields a non‐convergent series that has no meaningful value. The conflicting recommendations – that it is to one or the other player's advantage to swap – arise from different ways of grouping terms in the sum that yield an illusion of convergence. I describe a generalized exchange paradox, explore some of its properties and display another example. (shrink)

In the exchange paradox, two players receive envelopes containing different amounts of money. The assignment of the amounts ensures each player has the same probability of receiving each possible amount. Nonetheless, for each specific amount a player may find in his envelope, there is a positive expectation of gain if the player swaps envelopes with the other player, in apparent contradiction with the symmetry of the game. I consider a variant form of the paradox that avoids problems with improper (...) probabilities and I argue that in it these expectations give no grounds for a decision to swap since that decision must be based on a summation of all the expectations. But this sum yields a non‐convergent series that has no meaningful value. The conflicting recommendations – that it is to one or the other player's advantage to swap – arise from different ways of grouping terms in the sum that yield an illusion of convergence. I describe a generalized exchange paradox, explore some of its properties and display another example. (shrink)

There seems to be an overarching historical process in which life in small groups has evolved into life in large societies. This paper describes the design of a simulator for the study of that process. The simulator is named after David Hume (1711–1776), who presented a rich, informal, and still modern theory about the problems, useful inventions, and driving mechanisms in the evolution from small groups to large societies. HUME1.0 is a simulator that is meant to cover the interplay (...) of some key factors and forces in that process. The focus is on division of labor, possible gains from specialization, risky exchange with more or less distant others, possible fraud, moral control, and (at the next stage) establishment of monitoring and punishing authorities. Finally, we discuss the status, purposes, and relevance of simulators like HUME1.0 that create well-defined artificial worlds and allow for some (thought) experimenting with them. (shrink)

This paper explores the intersection of time and relational economic sociology. Building on Viviana Zelizer’s relational framework, I argue that analyzing the temporal dimensions of exchange provides insight into how social ties gain meaning through economic practices. The paper shows time’s dual role as both an organizing structure bounding action, and a dynamic element that actors leverage to shape transactional contexts. As structure, time offers culturally-available templates like schedules and rhythms that facilitate coordination and signify predictable social meanings befitting (...) particular relational categories. Yet time also constitutes relational work itself; strategic timing, duration, pacing, and sequencing of interactions signal context, manage expectations, and sustain bonds amidst entanglements. Synchronization through temporal agency prevents mismatches between transactions and social contexts that could strain ties. This agency in time ranges from passive adherence to dominant structures to active assertions of power resistance, enabling both domination and defiance across economic contexts. Analyzing shared temporal infrastructure within circuits of commerce further illuminates how actors distinguish those spheres of exchange at various scale from the impersonal market. Ultimately, incorporating temporality strengthens relational economic sociology by identifying a key mechanism through which practices of exchange become relationally meaningful. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:A Hypothesis on the Origin of TradeThe Exchange of Lives for Sacrifice and SexPablo Díaz-Morlán (bio)introductionThe primary objective of this study is to propose a hypothesis regarding the origin of trade that will help to solve the enigma of why human groups, normally each other's enemies, stopped exchanging blows in order to exchange things. The complexity of this crucial step forward in the relationships between hostile primitive (...) groups can be summarized as follows. In order for an exchange to take place, both parties must take part in it voluntarily because they see a mutual benefit in doing so. In turn, both parties should be aware that in order to obtain what interests them, which is closely guarded by the other party, in return, they must hand over what the other party is interested in. The perception of the interest of the other plays a crucial role in trade, both today and in its origins. The next step to be taken after a successful initial exchange was its consolidation, after it had been proved that it mutually benefited groups who had, until then, been enemies. Once established, this pacific exchange would have diversified considerably and its complexity would have increased significantly. An added [End Page 165] advantage, which was unexpected but real, was that its subsequent usefulness in curbing violence contributed to its growing expansion. The emergence of a comparative advantage in the groups that adopted trade would have guaranteed their future progress with respect to those that continued to systematically adopt violent conduct toward their neighbors.1Throughout this study, we will come across the old idea that the market prevents war. Without a doubt, trade and war between individuals and groups are closely connected, but the boundaries between them are fuzzy and their demarcation has proven elusive to researchers. Albert Hirschman studied the intellectual climate in the seventeenth and eighteenth centuries in favor of trade and the express declaration of Montesquieu that "peace is the natural effect of trade."2 Since then, this idea has gained ground among researchers of economics and other fields of knowledge. In L'enfer des choses and subsequent works, Jean-Pierre Dupuy and Paul Dumouchel defend that the economy (the market) is a substitute for the sacred, containing violence through violent means. The market contains violence in the two senses of the term contain: It holds it and curbs it; it is both the poison and the remedy. The consumer society makes all objects available to everyone and in this way deactivates mimetic rivalry, deferring violent conflicts. But it is only a temporary remedy. In the words of Girard, "It is always necessary to find new toys."3Following the path initiated by Dumouchel and Dupuy, with their criticism of the free market economy and their proposal for a new notion of scarcity, in his text The Empire of Value, André Orléan claims that money is at the origin of the market. My analysis alludes to a moment prior to that established by Orléan. He maintains that he does not contemplate the historical origin of money but instead uses the expression "the conceptual origin of money." In fact, when he defends the essential monetary base of the market, he refers to an already developed market system, that is, an economic system for which the operation is structured around the institution of the market.4 Mark R. Anspach also criticized the market system in his book À Charge de Revanche. This author proposes the transcending of the perverse logic of vengeance that defines both war and the market that transforms it into a positive reciprocity based on the gift. This constitutes a type of shift away from looking at the past (settling old accounts) to looking toward the future, embracing gratitude, which gives rise to the initial gesture of giving.5 This study analyzes a time prior to that examined by Orléan and Anspach. It was the moment of hominization, that is, mimicry, the subsequent violence that threatened the survival of human groups and, as we will seek to explain, the market as an institution that has accompanied humankind since its conformation as a species... (shrink)

Applied Business Ethics is a core module for business undergraduate students in an internationalised university business degree programme from the United Kingdom taught at a Private Higher Education Institution in Singapore. Students, who are working adults undertaking this part-time degree, are assessed purely on the application of theoretical knowledge through essays that show evidence of their ability to apply theory in workplace ethical dilemmas. This pilot study explores the utility of the module in terms of use and exchange (...) value. It was conducted in two phases as an empirical qualitative research. First, an email survey was sent to students, who had already graduated, to gather impressions of the module using open-ended questions. Based on the responses, semi-structured interviews of a purposive sample of four students were carried out to unearth insights on use and exchange value of the module through their stories. The study suggests that a key determinant of use value is workplace utility of the knowledge that has been gained. Over time, consistent derivation of use value translates to exchange value as long-term behaviour changes in the individual create positive workplace outcomes. The study also recognised the powerful influence of organisational culture in determining whether ethical thinking translates into ethical action, which also has a direct bearing on perceptions of use and exchange value. The findings of this study provide an insight to the understanding of the motivations of working adults attending the Applied Business Ethics module on a part-time basis. Having this understanding, it will be possible to further structure the module, in terms of positioning, delivery and assessment, to enable these students to become better managers when dealing with real-world workplace ethical issues. (shrink)

This article examines the human placenta not only as a scientific, medical and biological entity but as a consumer bio-product. In the emergent placenta economy, the human placenta is exchanged and gains potentiality as food, medicine and cosmetics. Drawing on empirical research from the United States, the United Kingdom, Denmark and Japan, the authors use feminist cultural analysis and consumer theories to discuss how the placenta is exchanged and gains commodity status as a medical supplement, smoothie, pill (...) and anti-ageing lotion. Placenta preparers and new mothers cite medical properties and spirituality as reasons for eating or encapsulating the placenta, reinstating ideas of the liberated good mother. Meanwhile, the cosmetics industry situates the placenta as an extract and hence a commodity, re-naturalizing it as an anti-ageing, rejuvenating and whitening bio-product. The authors conclude that, in the emergent bio-economy, the dichotomy between the inner and the outer body is deconstructed, while the placenta gains clinical and industrial as well as affective value. (shrink)

For several centuries, the Russians have been famous for the number of transactions they conduct through unofficial channels. This book, the first sustained attempt to explain and analyze Russian society's reliance on unofficial "give-and-take," focuses especially on two key practices: bribery (the use of public office for private gain) and blat (the informal exchange of favors). It brings together specialists from a wide range of disciplines.

Whereas many evolutionary models emphasize within-group cooperation or between-group competition in explaining human large-scale cooperation, recent work highlights a critical role for intergroup cooperation in human adaptation. Here we investigate intergroup cooperation in the domain of shotgun hunting in northern Republic of the Congo. In the Congo Basin broadly, forest foragers maintain relationships with neighboring farmers based on systems of exchange regulated by norms and institutions such as fictive kinship. In this study, we examine how relationships between Yambe farmers (...) and BaYaka foragers support stable intergroup cooperation in the domain of shotgun hunting. In the study village, shotgun hunting is based on a specialization-based exchange wherein Yambe farmers contribute shotguns and access to markets to buy cartridges and sell meat while BaYaka foragers contribute their specialized forest knowledge and skill. To understand how costs and benefits are distributed, we conducted structured interviews with 77 BaYaka hunters and 15 Yambe gun owners and accompanied hunters on nine hunting trips. We found that hunts are organized in a conventional manner within a fictive kinship structure, consistent with the presence of intercultural mechanisms to stabilize cooperation. However, because bushmeat demand is high, gun owners can gain significant cash profit, while compensating hunters only with cigarettes, alcohol, and a traditional hunter’s portion of meat. To level payoffs, hunters strategically hide kills or cartridges from gun owners to feed their own families. Our results illustrate how each group prioritizes different currencies (e.g., cash, meat, family, intergroup relations) and provide insights into how intergroup cooperation is stabilized in this setting. The example of this long-standing intergroup cooperative system is discussed in terms of its contemporary entwinement with logging, the bushmeat trade, and growing market intersection. (shrink)

We investigate the regulatory sanctions imposed on independent directors for their firms’ financial frauds in China. These regulatory sanctions are prima-facie evidence of significant lapses in business ethics. During the period 2003–2010, 302-person-time independent directors were penalized by the regulator, and the two stock exchanges. We find that the independent directors with accounting experiences are more likely to be penalized by the CSRC, though they do not suffer more severe penalties than do the other sanctioned independent directors. We also find (...) that independent directors suffer less severe penalties than do the insider directors. These results are consistent with the hypothesis that the sanctions on independent directors are tied to their assumed ethical and legal responsibilities. Following a regulatory sanction, penalized independent directors experience a significant decline in the number of other board seats held. However, they can gain board seats in better quality firms. We find that interlocked firms that share penalized independent directors with the fraud firm do not suffer from a valuation decline. Overall, our results suggest that regulatory sanctions have not triggered further sanctions on the penalized directors in the labor market but they have, instead, created a disincentive for these directors to serve on the company boards of high-risk firms. (shrink)

Venture capital syndication, an investment model, is gaining increasing attention. This paper uses a new perspective on knowledge transfer to explore the influence mechanism of knowledge heterogeneity in VCS on the innovation performance of entrepreneurial firms. We use firm-year panel data from the Shenzhen Stock Exchange for 2000–2017 and find that the knowledge heterogeneity of VCS includes, at least, management knowledge heterogeneity, investment knowledge heterogeneity, and technical knowledge heterogeneity. In particular, management knowledge heterogeneity and technical knowledge heterogeneity positively (...) affect the IP of entrepreneurial firms. We further find that the intellectual capital of entrepreneurial firms mediates these positive relationships. Moreover, the equity concentration of VCS positively moderates the relationship between knowledge heterogeneity and IP and negatively moderates the relationship between knowledge heterogeneity and IC. This paper provides a new theoretical explanation of the relationship between VCS and IP of entrepreneurial firms from a knowledge transfer perspective and explores the impact paths of this relationship. (shrink)

Fossil fuel divestment movements have gained momentum since 2011, aimed at ending fossil fuel use and a move toward a cleaner, affordable, and sustainable energy system, for business and society. The present study investigates the direct impact of fossil fuel divestment announcements on stock prices of firms listed on the United States' stock exchanges. Using an event study and guided by the United Nation's sustainable development goals (SDGs), we test the effects of 116 divestments announcements between 2014 and 2019 on (...) 51 publicly traded fossil fuel companies. Our results suggest that there is a negative effect of these announcements on fossil fuel firm stock prices. Also, we find that the type of fossil fuel firm (coal or oil and gas), the type of divestment (partial, coal only, or full), the timing of the announcement, and the size of the divesting investor have some explanatory power in relation to the (cumulative) abnormal returns following the divestment announcements. While the negative impact on stock prices is not surprising, the reaction from the divested firms after such large divestitures is not consistent with what may be expected, given past reactions to divestitures seeking to achieve different social goals. Given the SDGs, it seems clear why investors are divesting themselves from fossil fuel firms, but why has the reaction to the 116 divestments led to very little change in the way these publicly traded fossil fuel firms do business given their direct and growing impacts on society? We conclude the study with some suggestions for future research. (shrink)

It is the metaphoric doubling of past into present that gave Renaissance ekphrastic representations its techniques of self-understanding. In effect, in the ekphrastic doubling of the past in the present, we notice that historicity becomes an inalienable part of its contemporary credibility. The reduction of distance between life and art, as evident in contemporary obsession with selfies and photographs, thus begins to become the central project of early modern ekphrasis, enhanced in the Renaissance. In sum, art becomes equivalent to legal (...) tender, and ekphrasis, a principle of exchange and substitution, through which objects and artefacts seem to be in danger of losing their particularities and gaining new generic human values. When Shakespeare wrote The Rape of Lucrece, it was ekphrasis that allowed Shakespeare to speak about the ills of his own times through a Greco-Roman subject. The metaphorical implications that his story has for the issues of good government and private and public securit... (shrink)

Maurice Blanchot occupies a central though still-overlooked position in the Anglo-American reception of 20th-century continental philosophy and literary criticism. On the one hand, his rigorous yet always-playful exchanges with the most challenging figures of the philosophical and literary canons of modernity have led thinkers such as Georges Bataille, Emmanuel Levinas, Jacques Derrida, and Michel Foucault to acknowledge Blanchot as a major influence on the development of literary and philosophical culture after World War II. On the other hand, Blanchot's reputation for (...) frustrating readers with his difficult style of thought and writing has resulted in a missed opportunity for leveraging Blanchot in advancing the most essential discussions and debates going on today in the comparative study of literature, philosophy, politics, history, ethics, and art. Blanchot's voice is simply too profound, too erudite, and too illuminating of what is at stake at the intersections of these disciplines not to be exercising more of an influence than it has in only a minority of intellectual circles. Understanding Blanchot, Understanding Modernism brings together an international cast of leading and emergent scholars in making the case for precisely what contemporary modernist studies stands to gain from close inspection of Blanchot's provocative post-war writings. (shrink)

This paper presents a simple mathematical model that shows how economic inequality between social groups can arise and be maintained even when the only adaptive learning process driving cultural evolution increases individuals’ economic gains. The key assumptions are that human populations are structured into groups and that cultural learning is more likely to occur within than between groups. Then, if groups are sufficiently isolated and there are potential gains from specialization and exchange, stable stratification can sometimes (...) result. This model predicts that stratification is favored, ceteris paribus, by (1) greater surplus production, (2) more equitable divisions of the surplus among specialists, (3) greater cultural isolation among subpopulations within a society, and (4) more weight given to economic success by cultural learners. (shrink)

Bastiat is widely acknowledged as the most effective advocate of free markets, but his status as an economist is widely denied even by prominent Austrian economists who share his literary style and support for liberty. In particular, his theories of value and exchange have been attacked as a labor theory of value. Bastiat is exonerated here from these charges and is shown to fully oppose objective theories of value and to fully endorse the gains from free (...) exchange. In addition, Bastiat viewed economics as a science based on deductive reasoning and he vehemently opposed the use of mathematics. He thus was an important precursor of the Austrian school of economics.Bastiat est très reconnu comme étant le défenseur le plus éloquent du libre marché. Cependant, son statut en tant qu’économiste est amplement nié, et ce, même par les économistes Autrichiens éminents qui sont en accord avec son style littéraire et sa défense de la liberté. En particulier, ses théories de la valeur et de l’échange, considérées comme participant de la théorie de la valeur-travail, ont fait l’objet de critiques. Cet article exonère Bastiat de ces critiques et démontre que ses théories s’opposent radicalement aux théories objectives de la valeur : Bastiat avait une compréhension parfaite des gains découlant des échanges libres. De plus, Bastiat envisageait l’économie comme une science reposant sur un raisonnement déductif et s’opposait résolument à l’emploi des mathématiques. En ce sens, il était un précurseur important de l’école Autrichienne d’économie. (shrink)

In the so-called knowledge society, communication plays a key role in organizations. In traditional societies, the exchange of personal communication was conducted _face to face_. The development of new technologies has expanded the possibilities of transmitting more information within organizations and faster. Technology has brought greater opportunities for collective communication, as well as greater information management. The impact of these factors has led to some very significant changes in the business world. In these processes of change, within organizations, the (...) role of communication is increasingly playing a critical role. This article defends the relevance of ethical communication in 21st Century leadership. It is argued that leaders will find in ethical communication the means of gaining credibility and the confidence of their most immediate collaborators, their teams, the organizations they lead and the society in which the company operates. Taking the fundamental structure between internal and external communication as a starting point, the article describes the necessary conditions for leadership to develop ethical communication. It establishes the general and common characteristics of people-centered ethical communication, both as individuals and teams. Furthermore, it identifies the conditions that must generate ethical external communication through which leaders can convey messages to their target audience. For this purpose, the article is structured into the following sections: 1. The importance of communication within organizations. 2. Two levels of communication. 3. What is required of a leader-communicator in order to communicate well? 4. The basic Q&A of communication. (shrink)

A Dutch 'folk theorem' holds that 'from exchange it comes to tears'. This seems to contradict the basic idea found in economics that exchange and trade can make both sides better off. We show that the 'folk theorem' has a better theoretical foundation than sometimes thought, as it is vindicated by the equilibrium of an exchange game with two-sided asymmetric information. We, then, explain the practical value of such 'folk wisdom' in the real world by showing (...) why players might be unlikely to learn such an equilibrium strategy. (shrink)

Economic analysis identifies comparative, rather than absolute, advantage as the basis of international trade, a distinction first thought to have been clearly made by David Ricardo in his Principles of Political Economy and Taxation . Adam Smith's Wealth of Nations is thought to have failed to make this distinction, instead treating foreign trade principally as a “vent” for surplus domestic produce. However, Smith's underlying argument in favour of a “system of natural liberty” made his name synonymous with open seas and (...) free markets, and the economist most closely linked to free trade. This paper suggests that Smith advanced a rather more sophisticated analysis of the gains from trade than this textbook understanding would suggest, but that his line of reasoning has long been obscured by the long-established habit of reading Wealth of Nations as a work whose first two books contain the important analytical elements that the later books merely elaborate. It is demonstrated that Smith's analysis of the gains from trade derives from his discussion of capital, and that therefore a reader needs to begin at the end of Book II, and not with the principles of exchange outlined in Book I. (shrink)

Aby Warburg's Nachlass, the heart of the Warburg Institute Archive, is complemented by other large holdings which are no less remarkable. Quietly accumulating over the decades, still only provisionally cataloged, the vast corpus of letters filed as “General Correspondence” reveals itself to be a spectacularly rich resource for twentieth-century cultural and intellectual history. The secretariat was efficient: most everything was kept, letters received as well as copies of letters sent, meaning that the visitor to Woburn Square can sit in a (...) single archive, read both sides of exchanges, and follow conversations over years — a rare circumstance. The academic staff maintained contact with an impressively large number of internationally active scholars, working in many fields, and the letters are characteristically substantive. In this article, the author indicates how a book she is presently writing, Warburg Circles, 1929 – 1964, has been shaped by these archival holdings. She offers a brief history of the consolidated archive now located on the fourth floor of the Warburg Institute, a story that throws light on recent scholarly trends; and she gives examples of the sorts of historical insight that may be gained from this corpus of correspondence. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Journal of the History of Ideas 61.3 (2000) 361-379 [Access article in PDF] The Idea and the Reality of the City in the Thought of Philo of Alexandria * David T. Runia The theme of my paper is the conception of the city as a social and cultural phenomenon held by the Jewish exegete and philosopher Philo of Alexandria (15 bc to 50 ad). There can be no doubt (...) that the city occupied a central position in his own life. As an inhabitant of Alexandria he was thoroughly immersed in a highly urbanized form of life. From a more theoretical angle the city has an important place in his thought because of what it represents: of all physical products of human activity the city is the largest and most complex (here there is in fact little difference between Philo and us, although there is an obvious difference in scale). It is not my aim to examine Philo's political philosophy, i.e., his views on how the city should be governed, nor his views on the actual political administration of the Roman Empire in his time. These subjects have already been treated with sufficient competence by others. 1 I will argue that, though as an Alexandrian Philo was very much a homo urbanus, he nevertheless reveals a significant ambivalence towards the city. This attitude is related to his dual ideological background (Jewish and Greek), and anticipates developments in later antiquity.As always in the case of Philo, it is necessary to reflect on the methodology that should be used to reach our aim. True to his usual method, Philo nowhere examines the nature of the city in a sustained way. It is necessary to cull statements from many different places in his various works. For his views on living in the city of Alexandria we can examine his historical treatises. A more theoretical perspective is gained from his exegetical and philosophical works; but these, too, are not wholly devoid of topical remarks, such as the famous text in [End Page 361] which he complains that he has had to exchange the contemplative life for immersion in the maelstrom of Alexandrian political life (De specialibus legibus 3.1-6).In the analysis of the numerous texts in which Philo speaks of the city, it would be a mistake to try to compartmentalize his thought too much, i.e., to make a sharp distinction between historical-apologetic and exegetical-philosophical modes of thinking. It is true that Philo devotes the greatest part of his oeuvre to giving exegesis of the Law of Moses. But for him this is far from a merely antiquarian exercise. Philo is convinced of the universal relevance of the Pentateuch for both Jew and Gentile, including those who live in a complex urban environment utterly different from the circumstances of tent-dwelling Patriarchs or itinerant Israelites. The Law, it is assumed, represents the constitution of a Mosaic politeia deserving of universal admiration. So when Philo speaks of the city in his exegesis of Mosaic texts, his remarks may well be relevant to our theme. This applies also to allegorical forms of interpretation. The method of allegory enables him to bring forward the more theoretical and "philosophical" aspects of the theme.It remains a problem that our material consists of a large number of scattered and episodic remarks. These can be assembled together into the shape of a plausible and informative picture, but the aspect of a scholarly construct cannot be entirely avoided. There are compensations in Philo's case through the sheer volume of the material he has left behind. This lessens the chance that we should attribute too much significance to what may be no more than casual remarks. We should, however, have no illusions about the extent to which we can pene-trate behind the facade of his works. These were not written with the motive of disclosing his personal views on a wide scale of issues. The personality of Philo the Alexandrian Jew remains largely hidden from view... (shrink)

Pope Benedict XVI’s 2009 Encyclical-Letter “ Caritas in Veritate ,” (CV) breaks some new ground in the tradition of Catholic social teaching. I argue that explicitly this document makes a call for a new theory of economic exchange. Whereas, the traditional scholastic theory of the “just price” was focused on “the principle of the equivalence in value of exchanged goods” (CV 35), a new theory of exchange must focus instead on “a metaphysical understanding of the relations between persons” (...) (CV 53). True, Thomas Aquinas pioneered this new approach to the morality of exchange when he argued that the Golden Rule must take precedence over the logic of the just price: the relation between persons must trump the relation between the goods exchanged. Caritas in Veritate argues further for a new theory of exchange that combines elements of mutual gain with elements of gift-giving. Here again we see a revision of traditional scholastic theory in which every transaction was defined exclusively either as a unilateral gift (subject to norms of distributive justice and charity) or as a bilateral exchange (subject to norms of commutative justice). Benedict, by contrast, calls for a vision of economic life in which gift-giving and exchange are mixed, so that bargains are “redolent with the spirit of gift” (CV 37) in a new “economy of gratuitousness” (CV 38). I propose to outline a new theory of exchange in which the elements of mutual gain and gift-giving are combined. To do so, I shall have to revise the traditional scholastic analysis of the just price, which was focused on the equality of the goods exchanged and instead focus on the moral equality of the parties to an exchange. (shrink)

Guanxi is a complex construct of Chinese social interaction. Previous studies have focused on implications of guanxi for business outcomes; few have examined guanxi development, which is the purpose of this study. Two theoretical modes of dynamic guanxi processes in the workplace are proposed: working guanxi and backdoor guanxi . The two modes differ in frequency of interaction, frequency of exchange of favors, and how clear the parties are on what each stands to gain from a particular interaction. (...) Although face is expected to play a role in the development of each, the type of face that is most important differs. For working guanxi , lian (personal character) is most important. For backdoor guanxi , mianzi (status) is most important. Backdoor guanxi is the mode most likely to be associated with corruption, bribery, and client–patron relations. The psychological and social processes underlying development of these two modes of guanxi are explored and a basic model proposed as a basis for future research on guanxi , face, and ethics. (shrink)

This paper begins with Adam Smith’s advice to specialize and draws attention to an advantage from a misleading appearance of fixed specialization, identified in Flora Nwapa’s novel Efuru.

Prior to its publication, Gary Cox's MakingVotesCount was widely and eagerly anticipated. (Indeed, some years ago, I received a referee report dismissing my submission as unnecessary because superior analysis would eventually appear in Cox's then forthcoming manuscript.) Upon its release in 1998, the book was instantly lauded: it collected multiple awards, including the prestigious Woodrow Wilson prize for best book published on government, politics, or international affairs. This acclaim was scarcely surprising – Cox has been one of the foremost scholars (...) of elections and legislatures for the whole of his professional career. He is responsible for an impressive body of work spanning multiple research topics, nations, and methods of analysis. This book is testimony to his breadth, as it catalogs the key electoral features of virtually the whole set of modern democracies (more than 70), and makes frequent forays into diverse nations in search of empirical support for novel theoretical findings. In brief, Cox's project is to bring together a large formal, deductive literature on voting rules and social choice with an equally voluminous empirical, inductive literature on elections and party systems in the world's democracies. The prizes it garnered are one measure of the book's success at this merger; a large boost in Cox's swelling citation count will doubtless follow, reiterating the judgement that this is the major work on electoral law and voting to date. (shrink)

From 1950 to 1952, statisticians W.G. Cochran, C.F. Mosteller, and J.W. Tukey reviewed A.C. Kinsey and colleagues’ methodology. Neither the history-and-philosophy of science literature nor contemporary theories of interdisciplinarity seem to offer a conceptual model that fits this forced interaction, which was characterized by significant power asymmetries and disagreements on multiple levels. The statisticians initially attempted to exclude all non-technical matters from their evaluation, but their political and personal investments interfered with this agenda. In the face of McCarthy’s (...) witch hunts, negotiations with Kinsey and his funding institutions became integral to the review group’s work. This paper analyzes the heavy burden of emotional and affective labor in this collaboration, the conflicts caused by competing visions of objectivity, and the uses of statistical knowledge to gain and sustain authority. Kinsey’s refusal to adopt the recommended probability sample damaged his already precarious position even further and marked him as a biased researcher who put his personal agenda above methodological rigor. Kinsey’s uncooperative demeanor can be explained by distrust resulting from numerous adverse reactions to his work and by fear of having his sexuality exposed. This case study illustrates that the very concept of valid numbers can become an arena for power struggles and that quantification alone does not guarantee productive exchanges across disciplines. It calls for a deeper conceptual analysis of the prerequisites for successful scientific collaborations. (shrink)

Objectives: To investigate the quality of consent gained for the use in research of tissue that is surplus after surgery. To compare the use of two consent forms: a simple locally introduced form and a more complex centrally instigated form. To discuss the attitudes of patients towards the use of their surplus tissue in research.Design: Data were collected through interviews and analysed with a combination of quantitative and qualitative analytical techniques.Participants and setting: Patients of the breast care unit at a (...) teaching hospital were interviewed at home or in a quiet room at the hospital.Results: 57 people were interviewed out of 81 approached, between October 2003 and March 2004. Most participants had a poor level of knowledge about the consent they had given, but reported being happy about having given it. The patients who had signed the locally introduced form had considerably more knowledge than those who had signed the centrally instigated form . Participants considered being well informed to be less important than believing that their opinions were valued and respected.Conclusions: The findings suggest that traditional models of informed consent are not universally applicable and, in this case, seem to overstate what people wish to know. The simple consent form achieved a better quality of informed consent and provided a better model of practice than the complex form, and it seemed that a focused approach to consent seeking is more effective and acceptable than more complex approaches. (shrink)

Education has significant and far-reaching effects not only on individuals, but also on the societies in which they live and to which they contribute. The education level of a population affects how a country supports itself and others and the degree to which it can participate in the global field. While everyone from politicians to policymakers to celebrities has stressed the importance of education, there has not been-until now-a vigorous yet comprehensible examination of data to support what has long (...) been common knowledge: education matters. In Education Matters: Global Gains from the 19th to the 21st Century, renowned economists Robert Barro and Jong-Wha Lee present a revolutionary new data set on education in 146 countries since 1870 and projected through 2040. With case studies from the United States, China, and Korea, Barro and Lee evaluate schooling both quantitatively and qualitatively, and assess the role of education in economic and political development. In this comprehensive study, the authors establish the critical role that education plays - particularly for women and girls - in economic growth, fertility, and democracy. The book also addresses sensitive and controversial topics, such as international disparities in education, and the role of education in modernization and development. Both challenging and enlightening, Education Matters has exciting implications for the future of education and promises to be a ground-breaking work in the fields of economics and educational attainment. Engaging and informative, Education Matters is a compelling read for students, scholars, and anyone with a passion for education. (shrink)

"Does torture work?" is a factual rather than ethical or legal question. But legal and ethical discussions of torture should be informed by knowledge of the answer to the factual question of the reliability of torture as an interrogation technique. The question as to whether torture works should be asked before that of its legal admissibility—if it is not useful to interrogators, there is no point considering its legality in court.

Healthcare systems need to consider not only how to prevent error, but how to respond to errors when they occur. In the United Kingdom’s National Health Service, one strand of this latter response is the ‘No Blame Culture’, which draws attention from individuals and towards systems in the process of understanding an error. Defences of the No Blame Culture typically fail to distinguish between blaming someone and holding them responsible. This article argues for a ‘responsibility culture’, where healthcare professionals (...) are held responsible in cases of foreseeable and avoidable errors. We demonstrate how healthcare professionals can justifiably be held responsible for their errors even though they work in challenging circumstances. We then review the idea of ‘responsibility without blame’, applying this to cases of error in healthcare. Sensitive to the undesirable effects of blaming healthcare professionals and to the moral significance of holding individuals accountable, we argue that a responsibility culture has significant advantages over a No Blame Culture due to its capacity to enhance patient safety and support medical professionals in learning from their mistakes, while also recognising and validating the legitimate sense of responsibility that many medical professionals feel following avoidable error, and motivating medical professionals to report errors. (shrink)

This article considers an asymmetric contest with incomplete information. There are two types of players: informed and uninformed. Each player has a different ability to translate effort into performance in terms of the contest success function. While one player’s type is known to both players, the other is private information and known only to the player himself. We compare the Bayesian Nash equilibrium outcome of a one-sided private information contest to the Nash equilibrium with no private information, in which both (...) players know the type of the other player. We show conditions under which uncertainty increases the investment of the uninformed player and the rent dissipation of the contest, while decreasing the expected net payoff of the informed player. In addition, we consider conditions under which the informed player—before knowing his own type—prefers that the uninformed player knows his type. Moreover, we show conditions for the existence/non-existence of equilibrium in a two-stage contest in which the informed player declares his type (or does not declare) in the first stage and in the second stage the two players play according to the information available to them. (shrink)

Hans Joas is one of the foremost social theorists in Germany today. Based on Joas’s celebrated study of George Herbert Mead, this work reevaluates the contribution of American pragmatism and European philosophical anthropology to theories of action in the social sciences. Joas also establishes direct ties between Mead’s work and approaches drawn from German traditions of philosophical anthropology. Joas argues for adding a third model of action to the two predominant models of rational and normative action—one that emphasizes the (...) creative character of human action. This model encompasses the other two, allowing for a more comprehensive theory of action. Joas elaborates some implications of his model for theories of social movements and social change and for the status of action theory in sociology in the face of competition from theories advanced by Luhmann and Habermas. The problem of action is of crucial importance in both sociology and philosophy, and this book—already widely debated in Germany—will add fresh impetus to the lively discussions current in the English-speaking world. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Dei Filius II:On Divine RevelationSimon Francis Gaine, O.P.With chapter 2 of Dei Filius, the First Vatican Council's Constitution on the Catholic Faith moves on from the confession of faith in God, the Creator of all things, to the fact of God's revelation to us human creatures. The chapter covers first natural revelation through creation and the possibility of our natural knowledge of God, then why we also need (...) a further revelation which is supernatural, the presence of that supernatural revelation in Scripture and Tradition, and finally the canonicity, inspiration, and interpretation of the Bible.1The first sentence of the chapter declares that "holy Mother Church holds and teaches that God, the beginning and end of all things, may be known with certainty by the natural light of human reason."2 This sentence, with its affirmation of the possibility of sure natural knowledge of God without the benefit of supernatural revelation, is perhaps the most well-known of the chapter, the most hotly debated at the council itself, and the most discussed in the secondary literature.3 Hardly any comment is [End Page 839] ever made, however, on how the second chapter begins with the statement that the Church "holds and teaches" what follows. This phrase tenet et docet contrasts neatly with how the first chapter began: "The Holy Catholic, Apostolic, Roman Church believes and confesses that there is one, true and living God," and so on. While chapter 1's opening sentence spoke of the Church believing and confessing, chapter 2's opening sentence speaks instead of the Church holding and teaching, employing the verb teneo (hold) in contrast to credo (believe).4One can easily recognize a structural parallel between the two phrases: the inner act of holding in chapter 2 corresponds to the inner act of believing in chapter 1, and the external act of teaching in chapter 2 corresponds to the external act of confessing in chapter 1. I shall say something about the Church's holding and teaching, and its overall contrast as a unit with the earlier unit of believing and confessing, before going on to say something about the wider content of the chapter in that light. I do this partly because this symposium is about not only Vatican I's Constitution on the Catholic Faith, but also theology today. Catholic theology today is familiar with a precise distinction between "believing" and "holding," and while it is closely related to the distinction between believing and holding found in Dei Filius, I do not think the two distinctions are quite the same. So, in order to avoid confusion, I shall say something about the distinction familiar in theology in today, and then say something about the distinction at work in Vatican I. [End Page 840]The Profession of Faith in use in the Church since 1989, after quoting the Nicene Creed, continues as follows: "With firm faith, I also believe everything contained in the word of God, whether written or handed down in Tradition, which the Church, either by a solemn judgment or by the ordinary and universal Magisterium, sets forth to be believed as divinely revealed."5 But to this primary profession of what is usually called theological or divine faith, since it is a response to God's revelation, there is then added the following: "I also firmly accept and hold each and every thing definitively proposed by the Church regarding teaching on faith and morals."6 A third category, which pertains to non-definitive teaching and to which the appropriate response is "religious obedience of will and intellect," need not detain us here.7The Latin of "I accept and hold" is amplector et retineo, and in the 1989 Profession, it is said in definite contrast to faith and belief as an assent distinct from but related to that of divine faith itself. Though officially translated as "hold"—which might also have rendered teneo—retineo seems to connote guarding and preserving something, holding onto it, rather than merely holding it. The difficulty in interpreting such formulas (including terms such as "profess," "hold," and so on) is indicated by the fact that the previous Profession of... (shrink)