In the contemporary globalized economy, multinational companies have come to hold considerable power that may previously have rested with nation states. However, state structures remain relevant. With Brexit, the year 2016 featured an exemplary case in which the ongoing importance of nation states came to the fore. Preceding the British referendum to exit the European Union, discourses of national identity were deployed to promote a vote for the anti-globalization campaign. It is against this background that this research investigates how the (...) relationship between multinational corporations and nation states is constructed in news discourse. The underlying assumption is that news actively construct rather than merely reflects the nature of this relationship. Drawing on Social Actor Analysis and Transitivity as a theoretical framework, this study examines news coverage of the BP oil spill that occurred in the United States in 2010 but was caused by a multinational company headquartered in the United Kingdom. The main research question is ‘How does the media establish a link between multinational corporations and nation states?’. To address this central question, this study investigates how corporate responsibility is assigned, the role of the nation state is portrayed and victim status is allocated in the news. Findings show that the nature of the problem is constructed differently according to diverging national interests or priorities of the two nations represented by the media sources analyzed. The study indicates that the discourse around British nationality emphasized in the political struggle around Brexit was already mobilized extensively in the years leading up to the referendum. (shrink)

The burgeoning field of economic theology constitutes primarily a critical device against the Nachleben of medieval providential theology in modern economic governance. Especially Agamben has highlighted the role of the notion of oikonomia in providential and modern economic thought to promote humble acceptance in light of the problem of evil. I show how economic theology can also be a vantage point for affirmative critique. I discuss Negri’s interpretation of the Book of Job and the Italian feminist (...) appreciation of the Virgin Mary as responses to the problem of evil. Both emphasize the ineradicable potential for resistance to oikonomia in human life instead of merely lamenting humanity’s submission to God’s providential economy, like Agamben. For Negri, this potential is located in humankind’s capacity to protest against God-given evil and re-appropriate God’s potential for creating the world, while the feminists point toward the human ability to care for the vulnerable. (shrink)

The economic and social essence of the current revolution in science and technology taking place under the conditions of socialism is that it shapes new societal needs and at the same time creates the conditions for satisfying them.

This essay attempts to distinguish the pressing issues for economists and economic methodologists concerning realism in economics from those issues that are of comparatively slight importance. In particular I shall argue that issues concerning the goals of science are of considerable interest in economics, unlike issues concerning the evidence for claims about unobservables, which have comparatively little relevance. In making this argument, this essay raises doubts about the two programs in contemporary economic methodology that raise the banner of (...) realism. In particular I argue that the banner makes it more difficult to relate the concerns of those who wave it to those of other methodologists. Although this essay argues that many of the debates in this century between scientific realists and their opponents are not relevant to economics, it does not attack scientific realism, and it does not urge economists or economic methodologists to reject it. (shrink)

This article aims to analyze the legal regulation of performers’ rights in Lithuania. Analysis is divided in two parts: the first part analyses performers’ economic rights by comparing them to the authors’ economic rights and the legal regulation of performers’ rights in foreign countries; the second part of article focuses on the different content of performers’ economic rights due to the mean of fixation of performance (unfixed performance, performance fixed to the phonogram, audiovisual fixation of performance). Analysis (...) of the Lithuanian legal regulation on performers’ economic right has shown that although Copyright Law of Lithuania in general complies with international and EU acts governing performers’ rights, four main fields of legal regulation need to be revised. Firstly, Copyright Law should provide that when concluding an agreement concerning an audiovisual fixation of his performance with a producer of audiovisual work the performer transfers his exclusive rights to the producer, the performer shall retain an unwaivable right to receive an equitable remuneration for every transferred exclusive right. Secondly, the legal definition of phonogram published for the commercial purposes should be provided in the Law on Copyright of Lithuania. (shrink)

The paper traces the sequence of events which brought Popperian philosophy (including Lakatos) to its position on the issues of excess content, novelty and scientific progress. The general approach is to analyze Popper's and Lakatos's positions on these issues as an appropriate response to a particular philosophical problem situation in which they found themselves. The paper closes with a discussion of how these issues relate to economics and economic methodology.

INTRODUCTION TO THE THIRD EDITION: FROM VALUE THEORY TO PRAXEOLOGY Ludwig von Mises (1881–1973) is arguably the most important economist of the twentieth ...

The economic aspects of biobanking are intertwined with the social and scientific aspects. We describe two problems that structure the discussion about the economics of biobanking and which illustrate this intertwining. First, there is a ‘sustainability problem’ about how to maintain biobanks in the long term. Second, and representing a partial response to the first problem, there is a ‘commercialisation problem’ about how to deal with the voluntary altruistic relationship between participants and biobanks, and the potential commercial relationships (...) that a biobank may form. Social scientists have argued that the commercialisation problem is inadequate as a way to construct the multiple tensions that biobanks must negotiate. We agree that the commercialisation problem is an inadequate framework; turning to alternative accounts of bioeconomy, we suggest that contemporary consideration of the economics of biobanking primarily in terms of participants and their bodily tissue may reproduce the very commodification of science that these scholars critique. We suggest that an alternative conception of the economics of biobanking beyond the logics of commodification, which may thereby allow broader questions about the social and economic conditions and consequences of biobanks to be posed. (shrink)

The goal of behavioral economics is to improve the explanatory and predictive power of economics. This can be achieved by using theoretical and methodological resources of psychology. Its fundamental idea is that the relationship between psychology and economics cannot be subsumed under standard philosophical accounts of intertheoretical relations. Philosophical Problems of Behavioral Economics argues that behavioral economics is best understood as an attempt to deidealize economic theory guided by psychological research. Behavioral economics deconstructs the model of decision-making by (...) adding different elements. Based on this understanding behavioral economics has a number of tasks: first, it has to identify which economic theory needs to be challenged; second it aims to identify factors which need to be modelled within economic theories of choice and modify the theory accordingly; and finally, it has to create models that explain economic phenomena based on the new theory. This book analyses the different stages of this deconstruction process and shows how the scientific disciplines of economics and psychology are connected by it. This volume develops a new account of intertheoretical relations based on the idea of deidealization and thus contributes to debates within the philosophy of social science. It is suitable for those who are interested in or study economic theory and philosophy, economic psychology and philosophy of social science. (shrink)

All our previous political experience, and especially, of course, the experience of Eastern Europe and Central Asia, offers little hope that democracy can coexist with the centralized allocation of economic resources. Indeed, simple observation suggests that a market economy with private property rights is a necessary, although not sufficient, condition for the existence of a democratic political regime. And this accords fully with the political theory of liberalism, which emphasizes that private rights, both civil and economic, be protected (...) and secure. At the same time, our previous experience also indicates that market economies are more successful than centrally planned economies not only in producing, but also in distributing, both private and collective goods. This economic experienee is supported by neoclassical economic theory, which treats clearly defined and secure rights to private property as essential to a market economy. (shrink)

The economic aspects of biobanking are intertwined with the social and scientific aspects. We describe two problems that structure the discussion about the economics of biobanking and which illustrate this intertwining. First, there is a ‘sustainability problem’ about how to maintain biobanks in the long term. Second, and representing a partial response to the first problem, there is a ‘commercialisation problem’ about how to deal with the voluntary altruistic relationship between participants and biobanks, and the potential commercial relationships (...) that a biobank may form. Social scientists have argued that the commercialisation problem is inadequate as a way to construct the multiple tensions that biobanks must negotiate. We agree that the commercialisation problem is an inadequate framework; turning to alternative accounts of bioeconomy, we suggest that contemporary consideration of the economics of biobanking primarily in terms of participants and their bodily tissue may reproduce the very commodification of science that these scholars critique. We suggest that an alternative conception of the economics of biobanking beyond the logics of commodification, which may thereby allow broader questions about the social and economic conditions and consequences of biobanks to be posed. (shrink)

Ecologic-economic systems tend to exhibit greater complexity than systems that are purely ecological or economic. The interactions between the two types often generates nonlinear relations that lead to various kinds of complex dynamics that complicate management and decisionmaking regarding them. Of these, forests have characteristics that lead them to have special problems not usually encountered in the management of such systems. A central one is the long time periods involved managing forests compared to most other such systems. (...) This means that the issues regarding determination of discount rates for valuing future outcomes are more important for forestry management than for many other systems. Also, forests generate a wider range of externalities than do most other ecologic-economic systems, with implications for various hierarchical levels of management. This paper considers the array of these problems as they appear for a variety of forestry management issues. (shrink)

In this essay I criticize the contigent valuation method in resource economics and the concepts of utility and efficiency upon which it is based. I consider an example of this method and argue that it cannot-as it pretends-substitute for public education and political deliberation.

The work highlights the problems of economic risk management in a territorial context. The purpose of the study is to substantiate the strategic management of economic risks in a territorial context, based on the development of a mechanism of criteria that can give a generalized assessment of the results of risk situations, based on consideration of the variability of the development of the territorial economy. When assessing risks, special attention is paid to the economic results of (...) the consequences of their occurrence for the objectivity of strategic planning. The materials studied on various approaches to risk assessment show the economic category, while there is a functional connection between social and economic processes. The calculation technology itself requires improvement, which consists in creating a mechanism for generalizing indicators, concentrating them in a territorial context. Most likely, when developing a strategy for the development of the economy of a territory, it will be necessary to consider the variability of events that involve the occurrence of risks, providing an objective assessment of risks when making management decisions. The scientific novelty of the study is to justify the development of a mechanism for assessing the risks of the territorial economy, based on the relationship between the consolidation of risk analysis indicators and the effectiveness of the development of socio-economic processes, while comparing various options for the forecast effect. As a result of the study, the problems of assessing the strategic management of economic risks in the territorial context made it possible to develop generalized indicators characterizing risk events. (shrink)

The pivotal point in the Austrian literature on homogeneity, choice and indifference was constituted by Nozick’s On Austrian Methodology. Nozick provoked a long debate on the above notions within Austrianism. The aim of this paper is to elaborate such an account of homogeneity that would take the sting out of Nozick’s challenge and allow for non-trivial formulation of the law of diminishing marginal utility. Hence, we shall first take a closer look at the debate on indifference within the Austrian camp, (...) while defending and building upon the Hoppean account vis-à-vis Block’s criticism. Our justification of the Hoppean position shall consist in showing that his account of the correct description of an action is not an ad hoc move aimed at solving just one problem of indifference but is highly intuitive and widely applicable. We conclude by restating the above-mentioned law, thus demonstrating that the Nozickian objection can be successfully replied. (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.

This paper describes the way in which a certain representation of basic scientific knowledge can be coupled with traditional microeconomic analysis to provide an analysis of rational research planning or agenda setting in basic science. Research planning is conceived as a resource allocation decision in which resources are being allocated to activities directed towards the solution of basic scientific problems. A structuralist representation of scientific knowledge is employed to provide a relatively precise characterization of a basic scientific problem.

In this essay I criticize the contigent valuation method in resource economics and the concepts of utility and efficiency upon which it is based. I consider an example of this method and argue that it cannot-as it pretends-substitute for public education and political deliberation.

The American pragmatist John Dewey was no stranger to the problems of economics and their effects on the quality of work experience. Indeed, in his Democracy and Education (1916/1985), he remarks that “the greatest evil of the present regime is not found in poverty and in the suffering which it entails, but in the fact that so many persons have callings which make no appeal to them, which are pursued simply for the money reward that accrues” (MW 9:326–27). This (...) was not a uniquely American problem, as he continued to discuss the “problem of labor” in his lectures in China from 1919 to 1921. There his analysis of education and what it has to contribute to capitalistic economies takes on a more comparative shade .. (shrink)

Laboratory experimentation was once considered impossible or irrelevant in economics. Recently, however, economic science has gone through a real ‘laboratory revolution’, and experimental economics is now a most lively subfield of the discipline. The methodological advantages and disadvantages of controlled experimentation constitute the main subject of this thesis. After a survey of the literature on experiments in philosophy and economics, the problem of testing normative theories of rationality is tackled. This philosophical issue was at the centre of a famous (...) controversy in decision theory, during which a methodology of normative falsification was first articulated and used to assess experimental results. In the third chapter, the methodological advantages of controlled experimentation are illustrated and discussed with examples taken from the experiments on the so-called ‘preference reversal’ phenomenon. Laboratory testing allows to establish with a high degree of certainty that certain phenomena lie behind the experimental data, by means of independent testing, elimination of alternative hypotheses, and the use of different instruments of observation. The fourth chapter is devoted to a conceptual analysis of the problem of ‘parallelism’. This is the problem of inferring from the occurrence of a phenomenon in the laboratory, to its instantiation also in non-laboratory environments. Experimental economists have discussed parallelism at length, and their views are presented and criticised. Eventually, it is argued that parallelism is a factual matter and as such can only be established on empirical grounds. The fifth chapter provides an example of how one can argue for parallelism, focusing on the case of experimentation on the ‘winner’s curse’ phenomenon. The role of experiments as ‘mediators’ between theoretical models and their target domain of application is illustrated, and the structure of parallelism arguments analysed in detail. Finally, in the last chapter, economic experiments are compared to simulations, in order to highlight their specific characteristics. (shrink)

First published in 1977, this is an applied economics text, in which the basic theory of any introductory economics couurse is applied to a whole range of UK macro- and micro-economic policy issues. The book is designed specifically for first and second year university students, with the aim of demonstrating the relevance of theory to policy, how theory can be applied to policy problems and, in the process, to improve their understanding of the theory itself.

Both history and economics have rhetorics which limit their practitioners as to what sorts of evidence and what sorts of logical appeals they can make if they wish to retain an audience. The thesis of Robert Fogel's Railroads and Economic Growth could be summed up by a three-line proof, but Fogel used courtroom procedure, scientific jargon, statistics, simulation, and the traditions of economic and historical argument to persuade an audience of both historians and economists. It was a book (...) about rhetoric in economics and history as much as one about American railroads, and it became the archetype of cliometrics because of its powerful argumentative form and its startling, compelling conclusion. Knowledge in history or economics is a social event, often a new style of conversation, a new way of speaking; Fogel managed to create that new way of speaking. (shrink)