This article discusses the career of Joseph Moses Juran. He is described as being an astute observer, attentive listener, brilliant synthesizer, and prescient prognosticator. Juran has been called the father of quality, a quality guru, and the man who taught quality to the Japanese. One of his stellar contributions is the Juran trilogy of the three quality processes: quality control, quality planning, and quality improvement. Juran summarized the following three features of quality control activities in Japan that created the revolution (...) in quality: a massive quality-related education and training program; an annual program of quality improvement; and upper-management leadership of the quality function. (shrink)

ABSTRACT Many people now believe that human reproductive cloning – once sufficiently safe and effective – should be permitted on the grounds that it will allow the otherwise infertile to have children that are biologically closely related to them. However, though it is widely believed that the possession of a close genetic link to our children is morally significant and valuable, we argue that such a view is erroneous. Moreover, the claim that the genetic link is valuable is pernicious; it (...) tends to give rise to highly undesirable consequences, and therefore should be combated rather than pandered to. The emphasis on the genetic is unwarranted and unfortunate; rather than giving us moral reason to support reproductive cloning in the case of infertility, the fact that cloning requests are likely to be motivated by the genetic argument gives us reason to oppose its availability. (shrink)

Der Aufsatz analysiert den Konnex zwischen Individualisierter Medizin und der Forderung nach mehr gesundheitlicher Eigenverantwortung, der oft als plausibel angenommen wird, wenn der Individualisierten Medizin das Potential zugesprochen wird, das solidarisch finanzierte Gesundheitssystem in Deutschland zu transformieren. Ausgehend von einer logischen Rekonstruktion des Verantwortungsbegriffs, die dessen Operationalisierbarkeit unter anderem an Sanktionsvollmachten der jeweiligen Verantwortungsinstanz bindet, und basierend auf einem terminologisch präzisierten Verständnis von Individualisierter Medizin wird folgende These entwickelt: Die Annahme, im Rahmen Individualisierter Medizin sei eine verlässliche Prädiktion anlagebedingter und (...) zugleich lebensstilabhängiger Erkrankungsrisiken möglich, verpflichtet logisch nicht zur Übernahme der Forderung, Lebensstile mit negativem Einfluss auf persönliche Erkrankungsrisiken seien zu sanktionieren. Weil die Forderung nach mehr gesundheitlicher Eigenverantwortung aus dem Programm der Individualisierten Medizin logisch nicht ohne Hinzunahme normativer Prinzipien abzuleiten ist, kann man dieses Programm selbst gut heißen, ohne sich die politische Forderung nach einem Umbau des solidarisch finanzierten Gesundheitssystems unter dem Vorzeichen gesundheitlicher Eigenverantwortung zu eigen machen zu müssen. (shrink)

In the literature we have found correspondence of several significant traits of Jewish mysticism with traits of Buddhism and other systems of Indian religion-philosophy. Among the corresponding traits is the fundamental idea of emptiness or nothingness, shuunyataa in Sanskrit, ayin in Hebrew. Also corresponding are attempts to harmonize the idea and experience of emptiness with fullness, and with the experience of the secular world with its many things and concepts. We list eight significant traits of Jewish mysticism, which we find (...) correspond with traits of Indian religion-philosophies. We also discuss some important relations of these Indian and Jewish belief systems with modern science. We contend, that natural science is built on spontaneous sensory experiences; on this basis concepts and theories are constructed. Likewise we think, that spiritual experiences occur spontaneously and contribute to the basis of religious, mystic and some philosophical belief systems. We thus think, there are important parallels between scientific and spiritual cognition. Key words: Comparative religion; Emptiness/fullness; nothingness; God; compassion; reincarnation; cognition, scientific spiritual; spiritual experiences; Buddhism. (shrink)

The field of weather and climate ethics is a novel branch of applied ethics, based on environmental sciences and philosophy. Due to recent scientific findings concerning climate change, intentional weather and climate modification schemes have become even more relevant to finding feasible ways to moderate climate change and therefore are in need of careful analysis. When, if ever, can weather modification be deemed morally acceptable? The risks and adverse side-effects as well as indifference with regard to the limits of intervention (...) in natural processes present a case for calling weather modification proposals into question. This review article presents the central ethical research questions of weather ethics from a multidisciplinary perspective. (shrink)

Patientenmobilität und grenzüberschreitende Gesundheitsversorgung sind alltägliche Phänomene in der Europäischen Union (EU). Im Jahr 2011 hat die EU eine Richtlinie erlassen, um in diesem Kontext Rechtssicherheit herzustellen. Bisher gibt es keine umfassenden systematischen Studien über ethische Aspekte grenzübergreifender Gesundheitsversorgung. In dieser Arbeit werden die rechtlichen Entwicklungen der grenzübergreifenden Gesundheitsversorgung dargestellt und die in der Literatur vereinzelt erwähnten ethisch relevanten Aspekte heuristisch und auf Patiententypologien aufbauend systematisch inventarisiert und diskutiert. Es zeigt sich, dass die Möglichkeit der Patientenmobilität und die damit vor (...) allem verbundenen Finanzierungsregelungen die Autonomie einiger Patienten sicherlich verbessern kann. Allerdings können wohl nicht alle Patienten Versorgungsverbesserungen erwarten. Im Gegenteil können sogar negative Konsequenzen für einige Patienten folgen, was vor allem aus gerechtigkeitstheoretischen Überlegungen kritisch zu sehen ist. (shrink)

Die Arzneimittelzulassung und der Aufnahmeprozess zur Kostenerstattung sollen die Entwicklung und Vermarktung von pharmazeutischen Innovationen mit Patientennutzen nicht behindern, zugleich aber die Wirtschaftlichkeit der Arzneimittelversorgung für die Kostenträger nicht gefährden. Eine Anpassung der Verfahren an die Merkmale personalisierter Arzneimittel erscheint notwendig. Dabei ist allerdings zu fragen, ob eine ungerechtfertigte Privilegierung erfolgt. In den USA und in der EU werden die jeweiligen Zulassungsverfahren für Arzneimittel und Tests schrittweise angepasst und integriert. Zulassung und Erstattungsentscheidungen sollen koordiniert werden. Eine Privilegierung, wie bei Arzneimitteln (...) für seltene Indikationen (Orphan Drugs), findet jedoch für personalisierte Medizin nicht statt. Es bestehen keine unzumutbaren Hürden für die Hersteller. Zurückhaltung bei der Entwicklung innovativer Produkte wäre deshalb nicht gerechtfertigt. (shrink)

Basham and Dentith argue that the danger of condemning both conspiracy theorists and their conspiracy theories in a democracy has grave consequences. They argue that we should encourage research into public concerns about influential institutions, especially in cases where a conspiracy has been alleged. Rather than dismiss conspiracy theorising, we should, encourage the politically crucial, historically proven gift of watchfulness in the citizen, and its sometimes necessary, proper and correct expression, conspiracy theory.

Am 1. Februar 2010 ist das Gendiagnostikgesetz (GenDG) in Kraft getreten. Die Debatte um einige Regelungsbereiche, wie beispielsweise das Neugeborenenscreening, reißt nicht ab. Ein Aspekt des Gesetzes ist im Rahmen der Debatte um die Präimplantationsdiagnostik (PID) in Deutschland unter neuen Vorzeichen zu diskutieren: Das – international bislang einzigartige – Verbot der pränatalen Diagnostik so genannter spätmanifestierender Erkrankungen, die erst nach der Vollendung des 18. Lebensjahres ausbrechen. In diesem Beitrag möchten wir Hinweise zur differenzierten Diskussion dieser in § 15(2) GenDG bestimmten (...) Verbotsnorm liefern. Obgleich Argumente, insbesondere das Recht auf Nichtwissen des geborenen Kindes, für ein solches Verbot sprechen, kommen wir aufgrund der medizinischen Sachlage und nach einer Analyse der Pro- und Kontraargumente aus ethischer und rechtlicher Sicht zu dem Schluss, dass ein generelles Verbot der pränatalen Diagnostik spätmanifestierender Erkrankungen im Sinne der Zielsetzung womöglich insuffizient ist sowie in der Begründung Inkonsistenzen zum bereits bestehenden Regelwerk aufweist, und lenken daher den Blick auf unter Umständen bessere Alternativen. (shrink)

This paper examines the concept of ‘openness with patients’ from the stand-point of the limitations of biomedical ethics. Initially we review contemporary critiques of bioethics and, in particular, of principlism; we relate how other; somewhat neglected, forms of medical ethics can yield useful information and provide moral guidance.The main section of the paper then shows how a bioethical approach to openness misses the social context in our example, the viewpoints of patients; we present some of the increasing wealth of research (...) evidence which points towards patients wanting more information and a greater degree of openness.Finally we put forward that a principlist’s objection to active encouragement of openness might be based on the risk of infringing upon the ‘right not to know’. We reject this by arguing how rights can be trumped. (shrink)

Purpose: The purpose of the study was to determine the contribution of the CoG-K teachings to people’s participation in poverty alleviation in Emuhaya District, Western KenyaMethodology: This study was a cross-sectional research that sought to give an examining and descriptive scrutiny of the CoG-K’s activities in Emuhaya District of Western Kenya. This study sampled a total of 312 respondents (1 Bishop, 1 General Secretary, 1 General Assembly Trustee, 1 General Assembly Treasurer, 16 Directors, 282 Pastors, and 10 Elders) through purposive (...) sampling method. Oral interviews, questionnaire methods and focus group discussion were used to collect data from the respondents. Observation method was used to validate the information obtained through oral interviews and questionnaires. Secondary data was sourced from published and unpublished literature. Data was analyzed using the theological method of induction (TMI).Results: The findings of the study showed that the teachings of the CoG-K formed the basis by which social problems were viewed and addressed. This was revealed in the people’s participations in religious, social and economic activities in Emuhaya District. Consequently, the research established that the CoG-K’s teachings is a major force influencing efforts that promote religious values as an avenue for enhancing development at grassroots level where the majority of the poor live. Therefore, the contributions of the CoG-K’s teachings to people’s ideas about alleviation of poverty are closely connected to fundamental economic activities in Emuhaya District.Unique contribution to theory, practice and policy: It is recommended that if Emuhaya District is to develop, it has to place the CoG-K’s teachings and theology of the option for the poor at the top of the agenda and to consider it as is so often the case, as adjunct to core of the work that is development. (shrink)

Purpose: The purpose of the study was to examine the success of CoG-Kenya projects in poverty alleviation in Emuhaya District, Western KenyaMethodology: This study was a cross-sectional research that sought to give an examining and descriptive scrutiny of the CoG-K’s activities in Emuhaya District of Western Kenya. This study sampled a total of 312 respondents (1 Bishop, 1 General Secretary, 1 General Assembly Trustee, 1 General Assembly Treasurer, 16 Directors, 282 Pastors, and 10 Elders) through purposive sampling method. Oral interviews, (...) questionnaire methods and focus group discussion were used to collect data from the respondents. Observation method was used to validate the information obtained through oral interviews and questionnaires. Secondary data was sourced from published and unpublished literature. Data was analyzed using the theological method of induction (TMI).Results: The study proved that the CoG-K has a role to play through her programs like Sisi kwa Sisi, Child Development Centres, Health care Units and education, thus these institutions make a significant contribution to sustainable development in Emuhaya District and are useful instruments for spearheading alleviation of poverty in the said district. The CoG-K’s development is founded upon a spirituality of mutual sustenance and transformation through its concern for the adherents’ struggle with poverty. This study found out that faith activities and the related projects implicitly advance the poverty alleviation cause, thus all development revolves around spirituality. From this perspective the CoG-K has the responsibility to engage in all aspects of development within spirituality as the foundation of such engagement.Unique contribution to theory, practice and policy: The study recommends that development experts, theologians, policy makers and practitioners should cultivate long-term relationship with the church in general and the CoG-K in particular so as implement policy for development consequently alleviating poverty. (shrink)

Analytic study of the Advaita philosophy of Śaṅkarācārya and its schools.

Recently, due to the rapid progress of computer technology, researchers develop an effective computer program to enhance the achievement of the student in learning process, which is Intelligent Tutoring System (ITS). Science is important because it influences most aspects of everyday life, including food, energy, medicine, leisure activities and more. So learning science subject at school is very useful, but the students face some problem in learning it. So we designed an ITS system to help them understand this subject easily (...) and smoothly by analyzing it and explaining it in a systematic way. In this paper, we describe the design of an Intelligent Tutoring System for teaching science for grade seven to help students know the 7 characteristics for living things smoothly. The system provides all topics of living things and generates some questions for each topic and the students should answer these questions correctly to move to the next level. In the result of an evaluation of the ITS, students like the system and they said that it is very useful for them and for their studies. (shrink)

This essay on John Dewey, a prominent educator of the 20th century, explores his pedagogical theories and writings that influenced teaching-learning procedures. Dewey's influences are vast and overwhelming in the fields of aesthetics, politics, humanism, and logic. In the center of his educational concept is the child. His democratic leanings and pursuit of liberty, justice, and the value of a child's experience are the roots of Dewey's conception of humanism. Dewey's main concern was the gap between a child's experiences and (...) the expectations put on him. He emphasizes the need of teachers showing sensitivity to the unique differences and needs of their students. A youngster has the potential to be nurtured by a skilled mentor since they are naturally curious, companionable, and productive. As a result, it is the responsibility of the instructor to create a welcoming and productive environment for the students in order to give them excellent educational experiences. These environments are developed by the joint testing of effective teaching and learning strategies by instructors and students. The objective is to promote student independence. Dewey viewed his school as a community where the students are actively involved. This paper focused on Dewey's educational theory, pedagogical considerations, and the links he drew between education, democracy, experience, and society. (shrink)

Artificial intelligence (AI) technologies are increasingly creeping into the work sphere, thereby gradually questioning and/or disturbing the long-established moral concepts and norms communities have been using to define what makes work good. Each community, and Muslims make no exception in this regard, has to revisit their moral world to provide well-thought frameworks that can engage with the challenging ethical questions raised by the new phenomenon of AI-mediated work. For a systematic analysis of the broad topic of AI-mediated work ethics from (...) an Islamic perspective, this article focuses on presenting an accessible overview of the “moral world” of work in the Islamic tradition. Three main components of this moral world were selected due to their relevance to the AI context, namely (1) Work is inherently good for humans, (2) Practising a religiously permitted profession and (c) Maintaining good relations with involved stakeholders. Each of these three components is addressed in a distinct section, followed by a sub-section highlighting the relevance of the respective component to the particular context of AI-mediated work. The article argues that there are no unsurmountable barriers in the Islamic tradition against the adoption of AI technologies in work sphere. However, important precautions should be considered to ensure that embracing AI will not be at the cost of work-related moral values. The article also highlights how important lessons can be learnt from the positive historical experience of automata that thrived in the Islamic civilization. (shrink)

Normativity is assessed as we evaluate and compare the environmental reporting practices of a sample of French and Canadian companies through the lens of institutional legitimacy. More specifically, we examine how French and Canadian firms changed their reporting practices in reaction to the promulgation of laws and regulations in their respective countries, i.e., the NER and Grenelle II Acts in France, and National Instrument 51-102 and CSA Staff Notice NR 51-333, issued by the Canadian Securities Administrators. The firms’ voluntary disclosures (...) according to GRI guidelines are also investigated. Substantive legitimacy theory is used to explore the level of substantive disclosures provided by Canadian and French firms. The findings reveal that the French parliamentary regime is more successful than the Canadian stock exchange regulation in triggering environmental reporting, and that the GRI combined with local regimes prompts environmental disclosures. Notwithstanding the improvements in environmental reporting under all three regimes, a very low level of substantive disclosure is noted in both countries. (shrink)

The main purpose of this paper is to better understand how sustainability rating agencies, through discourse, promote an “ideology of numbers” that ultimately aims to establish a regime of normalization governing social and environmental performance. Drawing on Thompson’s (Ideology and modern culture: Critical social theory in the era of mass communication, 1990 ) modes of operation of ideology, we examine the extent to which, and how, the ideology of numbers is reflected on websites and public documents published by a range (...) of sustainability rating agencies. Our analysis indicates that the ideology of numbers promotes a relatively narrow vision of corporate social and environmental responsibility. That is, it establishes some areas of visibility while leaving in the shadow certain aspects of the ways in which companies fulfill, or fail to meet, their social and environmental responsibilities. The ideology of numbers also exerts power by identifying those companies that are deemed to be worthy of inclusion, or not, in a supposedly socially responsible corporate elite. (shrink)

Academic institutions aim at achieving the highest standards of education and learning. Consequently, they prohibit academic corruption such as cheating or plagiarism. This article examines how international accreditation and quality assurance standards embody academic integrity as a main factor in deciding whether an academic institution should be accredited, and what ranking should an academic institution acquire in a competitive contest for educational excellence. Academic integrity is broadly defined to include, in addition to cheating and plagiarism, compliance with standards of human (...) rights, labor rights, corporate social responsibility, ant-corruption measures, environmental protection, social media usage, protection of underage students, anti-radicalization and extremism, avoidance of conflict of interest, faculty professionalism, students codes of conduct and human experimentation. Academic institutions should adopt policies that are designed to address these diverse standards and accommodate diversity and enhance access to education for all without discrimination. Academic institutions should also strictly require the highest standards in teaching and research. This article will discuss the different policies, laws, rules and regulations adopted by Qatar University as a model for incorporating academic integrity, which may be of interest to the international higher education community. This article will ask two main questions; are accrediting institutions asking the right questions to find out whether an academic institution strictly adheres to a policy of academic integrity, and whether policies adopted by academic institutions, Qatar University as a model, are adequate to address various violations of academic integrity. (shrink)

We show that the U.S. anti-discriminatory laws prohibiting discrimination in the workplace based on sexual orientation and gender identity identities) spur innovation, which ultimately leads to higher firm performance. We use the Human Rights Campaign’s Corporate Equality Index of 398 U.S. firms between 2011 and 2014, and find a significantly positive relationship between CEI and firm innovation. We also find that an interacting effect of CEI and firm innovation leads to higher firm performance. We use our understanding of Rawls’ Theory (...) of Justice and stakeholder theory to show that firms with workplace diversity policies are likely to be more innovative and perform better than those without such policies. Our results are robust to endogeneity, reverse causality and simultaneity issues. Our results will trigger debate in similar markets around the globe on the economic benefits of LGBT workplace diversity policies for firms. (shrink)

Islamic bioethics is in good health, this article argues. During the twentieth century, academic researchers had to deal with a number of difficulties including the scarcity of available Islamic sources. However, the twenty-first century witnessed significant breakthroughs in the field of Islamic bioethics. A growing number of normative works authored by Muslim religious scholars and studies conducted by academic researchers have been published. This nascent field also proved to be appealing for research-funding institutions in the Muslim world and also in (...) the West, such as the Qatar National Research Fund (QNRF) and the Netherlands Organization for Scientific Research (NWO). On the other hand, the article argues that contemporary Islamic bioethics is in need of addressing news issues and adopting new approaches for the sake of maintaining and improving this good health in the future. (shrink)

. In the wake of the February 1997 announcement that Dolly the sheep had been cloned, Muslim religious scholars together with Muslim scientists held two conferences to discuss cloning from an Islamic perspective. They were organized by two influential Islamic international religioscientific institutions: the Islamic Organization of Medical Sciences and the International Islamic Fiqh Academy. Both institutions comprise a large number of prominent religious scholars and well‐known scientists who participated in the discussions at the conferences. This article gives a comprehensive (...) analysis of these conferences, the relation between science and religion as reflected in the discussions there, and the further influence of these discussions on Muslims living in the West. Modern discussions on Islamic bioethics show that formulating an Islamic perspective on these issues is not the exclusive prerogative of religious scholars. Formulating such perspectives has become a collective process in which scientists play an essential role. Such a collective approach strengthens the religious authority of Muslim scholars and makes it more influential rather than undermining it. (shrink)

_The Reconstruction of Religious Thought in Islam_ is Muhammad Iqbal's major philosophic work: a series of profound reflections on the perennial conflict among science, religion, and philosophy, culminating in new visions of the unity of human knowledge, of the human spirit, and of God. Iqbal's thought contributed significantly to the establishment of Pakistan, to the religious and political ideals of the Iranian Revolution, and to the survival of Muslim identity in parts of the former USSR. It now serves as new (...) bridge between East and West and between Islam and the other Religions of the Book. With a new Introduction by Javed Majeed, this edition of _The Reconstruction_ opens the teachings of Iqbal to the modern, Western reader. It will be essential reading for all those interested in Islamic intellectual history, the renewal of Islam in the modern world, and political theory of Islam's relationship to the West. (shrink)

In 2022, the Research Center for Islamic Legislation & Ethics (CILE) and the World Innovation Summit for Health (WISH) submitted a proposal to host the 17th edition of the World Congress of Bioethics. After announcing that the CILE‐WISH proposal was the winning bid, concerns were raised by bioethicists based in Europe and the USA. To address these concerns, the International Association of Bioethics (IAB) developed a dedicated FAQ section, in coordination with the host institutions, for the first time in IAB (...) history. One‐to‐one communication ensued and individual responses were shared with these colleagues. As a continuation of this conversation, we (CILE Acting Director, WISH Research Fellow and Head of Content, and WISH CEO) address the concerns raised in the Letter‐to‐the‐Editor of Bioethics by Graaf et al. As we support the call to revisit some contentious issues within the global community of bioethicists, we maintain that this should be based on meticulously discussed, informed, consistent and equitable criteria. We also argue that mutual learning from diverse cultures and moral traditions is the optimal way for our scholarly community to be truly global and to eschew the flaws ensuing from ethnocentric discourses. (shrink)

The ethical climate in Turkey is beset by ethical problems. Bribery, environmental pollution, tax frauds, deceptive advertising, production of unsafe products, and the ethical violations that involved politicians and business professionals are just a few examples. The purpose of this study is to compare and contrast the ethical beliefs of American and Turkish consumers using the Ethical Position Questionnaire (EPQ) of Forsyth (1980), the Machiavellianism scale, and the Consumer Ethical Practices of Muncy and Vitell questionnaire (MVQ). A sample of 376 (...) subjects that consists of American consumers (n = 188) and Turkish consumers (n = 199) was used to compare the ethical beliefs and practices of the two samples. The MANOVA results for the two nationality groups found that five out of six criterion variables differed between the two groups. The implications of this study are intended to assist marketers to develop strategies that suit a particular market and lessen their risk of entry. (shrink)

Abstract. In January 1985, about 80 Muslim religious scholars and biomedical scientists gathered in a symposium held in Kuwait to discuss the broad question “When does human life begin?” This article argues that this symposium is one of the milestones in the field of contemporary Islamic bioethics and independent legal reasoning (Ijtihād). The proceedings of the symposium, however, escaped the attention of academic researchers. This article is meant to fill in this research lacuna by analyzing the proceedings of this symposium, (...) the relevant subsequent developments, and finally the interplay of Islam and the West as a significant dimension in these discussions. (shrink)

The study aims to identify the reality of management of electronic documents and electronic archiving retirement in the Palestinian Pension Agency -analytical study, as well as to recognize the reality of the current document management system in the Palestinian Pension Agency. The study found the following results: that the reality of the current system for the management of documents in the agency is weak and suffers from many jams. Employee in the agency understand the importance and benefits of the management (...) of electronic documents system, where the application of electronic document management system provide important features and benefits most of which reduce the loss of documents between departments, illustrates the flow path, the speed, accuracy, transparency, and reduce the proportion of damage and destruction of files. Furthermore, the electronic documents system cost will be less than the cost of the current system and it will reduce the tasks assigned for the staff. The existence of a clear adoption of the agency for the policies and procedures established for the application of electronic documents management system. There are weak plans for training and developing of staff in the agency to raise their efficiency. The study found a set of recommendations, including: increased interest and awareness of the need to implement policies, mechanisms, and procedures to ensure the success of electronic document management system through benefiting from the experiences of other organizations and the private sector. The agency need to increase and develop its services for retirees in order to encourage the private sector, universities, and institutions to join the agency, and open the way for all segments of society in Gaza and West Bank and enhance its competitiveness between international social security institutions. The need to focus its attention on developing and publishing appropriate clear plans and specific goals about management of electronic documents and the agency should be committed to apply them. The need to focus on the establishment of a public management of archiving in the structure dealing with all technical operations and having competent and qualified employees in the field of electronic document management. The need to focus on the Palestinian National Archives and the follow-up with the international standards by the International Council Archives (ICA). (shrink)

Using a sample of 21,030 US firm-year observations that represents more than 3000 individual firms over the 1998–2012 period, we investigate the relationship between Corporate Social Responsibility (CSR) and investment efficiency. We provide strong and robust evidence that high CSR involvement decreases investment inefficiency and consequently increases investment efficiency. This result is consistent with our expectations that high CSR firms enjoy low information asymmetry and high stakeholder solidarity (stakeholder theory). Moreover, our findings suggest that CSR components that are directly related (...) to firms’ primary stakeholders (e.g. employee relations, product characteristics, environment, and diversity) are more relevant in reducing investment inefficiency compared with those related to secondary stakeholders (e.g. human rights and community involvement). Finally, additional results show that the effect of CSR on investment efficiency is more pronounced during the subprime crisis. Taken together, our results highlight the important role that CSR plays in shaping firms’ investment behaviour and efficiency. (shrink)

Much empirical analysis and econometric work recognizes that there are nonlinearities, regime shifts or structural breaks, asymmetric adjustment costs, irreversibilities and lagged dependencies. Hence, empirical work has already transcended neoclassical economics. Some progress has also been made in modeling endogenously generated cyclical growth and fluctuations. All this is inconsistent with neoclassical general equilibrium. Hence there is growing evidence of Kuhnian anomalies. It therefore follows that there is a Kuhnian crisis in economics and further research in nonlinear dynamics and complexity can (...) only increase the Kuhnian anomalies. This crisis can only deepen. However, there is an ideological commitment to general equilibrium that justifies “free enterprise” with only minimal state intervention that may still sustain neoclassical economics despite the growing evidence of Kuhnian anomalies. Thus, orthodox textbook theory continues to ignore this fact and static neoclassical theory remains a dogma with no apparent reformulation to replace it. (shrink)

This paper critically reviews Ken Binmore’s non- utilitarian and game theoretic solution to the Arrow problem. Binmore’s solution belongs to the same family as Rawls’ maximin criterion and requires the use of Nash bargaining theory, empathetic preferences, and results in evolutionary game theory. Harsanyi has earlier presented a solution that relies on utilitarianism, which requires some exogenous valuation criterion and is therefore incompatible with liberalism. Binmore’s rigorous demonstration of the maximin principle for the first time presents a real alternative to (...) a utilitarian solution. (shrink)

In this paper I argue that the criterion of valuation in neoclassical economics is flawed because it is not an invariant measure of value. It is invariant only when unrealistically restrictive conditions are imposed on the class of admissible utility functions, which in fact makes it a special case. The only sensible alternative is to turn to classical value theory based on real sacrifices or opportunity costs.