The paper examines problems for rationality and morality arising out of prisoners' dilemma. Section I criticizes a k sen's attempt to elimate, By variations of preference patterns, The clash between individual rationality and individual or social optimality. Section ii rejects sen's account of morality as a moral ordering of preferences over outcomes, Because it fails to resolve the conflict raised by prisoners' dilemma between individual and social optimality and creates a new conflict between rationality and individual optimality. Section iii sketches (...) accounts of morality and rationality which can avoid these problems. An appendix further explains the distinctions between four kinds of preferences introduced in the paper itself. (shrink)

I am most grateful to Elizabeth Anderson (2000), Philip Pettit (2000) and Thomas Scanlon (2000) for making such insightful and penetrating comments on my work and the related literature. I have reason enough to be happy, having been powerfully defended in some respects and engagingly challenged in others. I must also take this opportunity of thanking Martha Nussbaum, for not only chairing the session in which these papers were presented followed by a splendid discussion (which she led), but also for (...) taking the initiative, in the first place, to arrange the session. (shrink)

Gary Becker and others have done important work to broaden the content of self interest, but have not departed from seeing rationality in terms of the exclusive pursuit of self-interest. One reason why committed behavior is important is that a person can have good reason to pursue objectives other than self interest maximization (no matter how broadly it is construed). Indeed, one can also follow rules of behavior that go beyond the pursuit of one's own goals, even if the goals (...) include non-self-interested concerns. By living in a society, one develops possible reasons for considering other people's goals as well, which takes one beyond an exclusive concentration on one's own goals, not to mention the single-minded pursuit of one's own self interest. The recognition of other people's goals may be a part of rational thought. If rational behavior may depart from the relentless pursuit of one's own goals, commitment has to be important in a theory of rationality. Furthermore, seeing the role of commitment in human behavior can have explanatory importance in allowing us to understand behavior patterns that are hard to fit into the narrow format of contemporary rational choice theory. Commitment is, thus, important both for practical reason and for causal explanation. (shrink)

And in this book the distinguished scholar Amartya Sen offers a powerful critique of the theory of social justice that, in its grip on social and political ...

This paper is about three distinct but interrelated problems: (1) the role 0f rights in moral theory, (2) thc characterization 0f agent relative values and their admissibility in consequ<—:ncc—bascd evaluation, and ( 3) the nature 0f moral evaluation 0f states 0f aihirs.

This book develops some of the most important themes of Sen's works over the last decade. He argues in a rich and subtle approach that we should be concerned with people's capabilities rather than their resources or welfare.

In the summer of 1997, I was asked by a leading Japanese newspaper what I thought was the most important thing that had happened in the twentieth century. I found this to be an unusually thought-provoking question, since so many things of gravity have happened over the last hundred years. The European empires, especially the British and French ones that had so dominated the nineteenth century, came to an end. We witnessed two world wars. We saw the rise and fall (...) of fascism and Nazism. The century witnessed the rise of communism, and its fall (as in the former Soviet bloc) or radical transformation (as in China). We also saw a shift from the economic dominance of the West to a new economic balance much more dominated by Japan and East and Southeast Asia. Even though that region is going through some financial and economic problems right now, this is not going to nullify the shift in the balance of the world economy that has occurred over many decades (in the case of Japan, through nearly the entire century). The past hundred years are not lacking in important events. (shrink)

Amartya Sen; XII*—Plural Utility, Proceedings of the Aristotelian Society, Volume 81, Issue 1, 1 June 1981, Pages 193–216, https://doi.org/10.1093/aristotelian/.

Illustrations: 1 B/w Illustration Description: Pranab Kumar Sen, Professor Emeritus, Jadavpur University in whose honour this volume has been prepared was one of the leading philosophers of our country and a highly respected teacher. It carries thirty-five articles which deal with different branches of philosophy,viz., philosophical logic, philosophy of language, ontology, theory of knowledge, Kant exegesis, moral philosophy, social philosophy, philosophy of art. As Sen's philosophical interests and expertise were wide the authors had ample freedom in their choice of topics. (...) This volume will be of interest to those who are acquainted with sophisticated literature in analytic philosophy, scholars working in different branches of philosophy and also general readers of modern philosophy. (shrink)

Colloquially, episodic memory is described as “the memory of personally experienced events”. Even though episodic memory has been studied in psychology and neuroscience for about six decades, there is still great uncertainty as to what episodic memory is. Here we ask how episodic memory should be characterized in order to be validated as a natural kind. We propose to conceive of episodic memory as a knowledge-like state that is identified with an experientially based mnemonic representation of an episode that allows (...) for a mnemonic simulation thereof. We call our analysis the Sequence Analysis of Episodic Memory since episodes will be analyzed in terms of sequences of events. Our philosophical analysis of episodic memory is driven and supported by experimental results from psychology and neuroscience. We discuss selected experimental results that provide exemplary evidence for uniform causal mechanisms underlying the properties of episodic memory and argue that episodic memory is a natural kind. The argumentation proceeds along three cornerstones: First, psychological evidence suggests that a violation of any of the proposed conditions for episodic memory amounts to a deficiency of episodic memory and no form of memory or cognitive process but episodic memory fulfills them. Second, empirical results support a claim that the principal anatomical substrate of episodic memory is the hippocampus. Finally, we can pin down causal mechanisms onto neural activities in the hippocampus to explain the psychological states and processes constituting episodic memory. (shrink)

How valuable is the market mechanism for practical morality? What is its moral standing? We can scarcely doubt that as individuals we do value tremendously the opportunity of using markets. Indeed, without access to markets most of us would perish, since we don't typically produce the things that we need to survive. If we could somehow survive without using markets at all, our quality of life would be rather abysmal. It is natural to feel that an institution that is so (...) crucial to our well-being must be valuable. And since moral evaluation can hardly be indifferent to our interests and their fulfillment, it might appear that there is nothing much to discuss here. The market's moral standing “has to be” high. (shrink)

Commodities and Capabilities presents a set of inter-related theses concerning the foundations of welfare economics, and in particular about the assessment of personal well-being and advantage. The argument presented focuses on the capability to function, i.e. what a person can do or can be, questioning in the process the more standard emphasis on opulence or on utility. In fact, a person's motivation behind choice is treated here as a parametric variable which may or may not coincide with the pursuit of (...) self-interest. Given the large number of practical problems arising from the roles and limitations of different concepts of interest and the judgement of advantage and well-being, this scholarly investigation is both of theoretical interest and practical import. (shrink)

This essay discusses the place of business principles and of moral sentiments in economic success, and examines the role of cultures in influencing norms of business behavior. Two presumptions held in standard economic analysis are disputed: the rudimentary nature of business principles (essentially restricted, directly or indirectly, to profit maximization), and the allegedly narrow reach of moral sentiments (often treated to be irrelevant to business and economics). In contrast, the author argues for the need to recognize the complex structure of (...) business principles and the extensive reach of moral sentiments by using theoretical considerations, a thorough analysis of Adam Smith’s work, and a careful interpretation of Japan’s remarkable economic success. Referring to the economic corruption in Italy and the “grabbing culture” in Russia, he further shows how deeply the presence or absence of particular features of business ethics can influence the operation of the economy, and even the nature of the society and itspolitics. Being an Indian himself, he warns against grand generalizations like the superiority of “Asian values” over traditional Western morals. To conclude, it is diversity—over space, over time, and between groups —that makes the study of business principles and moral sentiments a rich source of understanding and explanation. (shrink)

The concept of business responsibility, usually termed as corporate social responsibility (CSR), originated in the early 1930s after the Wall Street crash of 1929 exposed corporate irresponsibility in large organisations. The understanding of CSR has evolved since then and its scope has now broadened from mere compliance to corporate laws to active alignment of internal business goals with externally set societal aspirations. Unfortunately, the significance of this multidimensional concept within the small and medium enterprise (SME) sector has continued to be (...) overshadowed by its application in large and multinational organisations. More importantly, this has led to the practice of judging SMEs, which are experiencing increasing pressure to engage in social activities, as if they are no different from their larger counterparts. This study therefore investigates CSR from the perspective of SMEs in Australia without any theoretical presumptions and then comments on the relevance and applicability of the two theories that have been commonly used to investigate business responsibility, namely, stakeholder theory (ST) and social capital theory (SCT). The research findings indicate that CSR within the SME sector is more aligned to the fundamentals of SCT, mainly owing to the unique resource and survival challenges that they face, and which are, arguably, not so pronounced in large organisations. (shrink)

Amartya Sen; XII*—Plural Utility, Proceedings of the Aristotelian Society, Volume 81, Issue 1, 1 June 1981, Pages 193–216, https://doi.org/10.1093/aristotelian/.

Based on the 1972 Radcliffe Lectures, this book presents a systematic treatment of the conceptual framework as well as the practical problems of measurement of inequality.

Without denying the importance of the postmodernist approach to the narrative form and rhetorical strategies of historiography, the author, one of Germany's ...

I am embarrassed at being placed in the dizzying company of one of the truly great thinkers in the world. The similarities between Mill's ideas and mine partly reflect, of course, his influence on my thinking. But I also discuss some difficulties in taking Mill's whole theory without modification, since there are internal tensions within it. In a paper I published in 1967, I tried to discuss how Mill's willingness to hold on to some contrary positions depended on the nature (...) of his empirical reading of the world. I draw on that diagnosis in commenting on some of the articles here. There are some serious issues of misinterpretation in one of the articles, which I try to clarify. I also comment on Arrow's interpretation of what is involved in the idea of autonomy and on his own way of assessing freedom, and acknowledge the seriousness of the questions he raises about the value of freedom in normative political philosophy. (shrink)

Leśniewski is known for his pedantry and idiosyncratic notation, which make it extremely difficult to read and follow. As reading comes before understanding, this paper therefore attempts only one...

Investor recommendation is a critical and challenging task for startups, which can assist startups in locating suitable investors and enhancing the possibility of obtaining investment. While some efforts have been made for investor recommendation, few of them explore the impact of startups’ features, including partners, rounds, and fields, to investor recommendation performance. Along this line, in this paper, with the help of the heterogeneous information network, we propose a FEatures’ COntribution Measurement approach of startups on investor recommendation, named FECOM. Specifically, (...) we construct the venture capital heterogeneous information network at first. Then, we define six venture capital metapaths to represent the features of startups that we focus on. In this way, we can measure the contribution of startups’ features on the investor recommendation task by validating the recommendation performance based on different metapaths. Finally, we extract four practical rules to assist in further investment tasks by using our proposed FECOM approach. (shrink)

The importance of business ethics is not contrdicted in any way by Adam Smith’s pointer to the fact that our “regards to our own interests” provide adequate motivation tor exchange. There are many important economic relationships other than exchange, such as the institution of production and arrangements of distribution. Here business ethics can playa major part. Even as far as exchange is concerned, business ethics can be crucially important in terms of organization and behavior, going weil beyond basic motivation.

Sen’s essay concerns the existence of extensive hunger amidst unprecedented global prosperity in the contemporary world, but he argues that the problem would be decisively solvable if our response were no longer shaped by Malthusian pessimism. Effective famine prevention does not turn on food supply per head and the automatic mechanism of the market: there can be plenty of food while large sections of the population lack the means to obtain it. Effective famine prevention thus requires “entitlements.” Economically, governments can (...) and should provide public employment programs so that those threatened by famine can be empowered to command food. Politically, democratic participation and a free press can work to ensure government accountability for famine prevention. The choice that Sen urges, however, is not for the state over the market—the experience of the Indian state of Kerala demonstrates that a voluntaristic approach can work as well or better than China’s compulsory “one child policy” in limiting the rapid population growth that contributes to world hunger. Rather, a reasoned solution to the problem of hunger must acknowledge the complementary importance of both well-functioning markets and open and democratic public action. (shrink)