:Opportunism impacts the behavior of firms in market situations where they purchase goods and services externally and create dependency relationships with other firms. Opportunism as a business issue is addressed in economics and marketing literature as an important factor in transaction cost analysis and market governance. Management and business ethics scholars, however, do not address this issue in depth, if at all.The recent bankruptcy of MCI WorldCom highlights some of the risks inherent in a world economy where customers and companies (...) of one society are dependent upon the business practices of partner companies in other societies. Telecommunications customers and companies in Asia, Europe and other places, who depended upon MCI WorldCom for connections to North America, now have important areas of their business in jeopardy because of the uncertainty about the fate of a critical business partner.MCI WorldCom’s situation appears to be the result of an attempt to obtain personal gain, at the expense of others, by at least one senior manager. This is called opportunism. Williamson defined opportunism as “self-interest seeking with guile.” It can wreak havoc with companies, customers, stock markets and economies and is demonstrated regularly in press accounts of misstatements on financial reports and other ways senior managers use their positions to enhance their personal wealth and influence.This paper will focus on the ethical issues surrounding business relationships and how Confucianism, with its focus on trust, reciprocity and mutual benefit in relationships, can offer a moral foundation to the inter-firm arrangements that are so much a part of the contemporary business landscape. (shrink)

(2013). Matching bias in syllogistic reasoning: Evidence for a dual-process account from response times and confidence ratings. Thinking & Reasoning: Vol. 19, No. 1, pp. 54-77. doi: 10.1080/13546783.2012.735622.

Abstract:Opportunism impacts the behavior of firms in market situations where they purchase goods and services externally and create dependency relationships with other firms. Opportunism as a business issue is addressed in economics and marketing literature as an important factor in transaction cost analysis and market governance. Management and business ethics scholars, however, do not address this issue in depth, if at all.The recent bankruptcy of MCI WorldCom highlights some of the risks inherent in a world economy where customers and companies (...) of one society are dependent upon the business practices of partner companies in other societies. Telecommunications customers and companies in Asia, Europe and other places, who depended upon MCI WorldCom for connections to North America, now have important areas of their business in jeopardy because of the uncertainty about the fate of a critical business partner.MCI WorldCom’s situation appears to be the result of an attempt to obtain personal gain, at the expense of others, by at least one senior manager. This is called opportunism. Williamson (1985) defined opportunism as “self-interest seeking with guile.” It can wreak havoc with companies, customers, stock markets and economies and is demonstrated regularly in press accounts of misstatements on financial reports and other ways senior managers use their positions to enhance their personal wealth and influence.This paper will focus on the ethical issues surrounding business relationships and how Confucianism, with its focus on trust, reciprocity and mutual benefit in relationships, can offer a moral foundation to the inter-firm arrangements that are so much a part of the contemporary business landscape. (shrink)

Abstract:Opportunism impacts the behavior of firms in market situations where they purchase goods and services externally and create dependency relationships with other firms. Opportunism as a business issue is addressed in economics and marketing literature as an important factor in transaction cost analysis and market governance. Management and business ethics scholars, however, do not address this issue in depth, if at all.The recent bankruptcy of MCI WorldCom highlights some of the risks inherent in a world economy where customers and companies (...) of one society are dependent upon the business practices of partner companies in other societies. Telecommunications customers and companies in Asia, Europe and other places, who depended upon MCI WorldCom for connections to North America, now have important areas of their business in jeopardy because of the uncertainty about the fate of a critical business partner.MCI WorldCom’s situation appears to be the result of an attempt to obtain personal gain, at the expense of others, by at least one senior manager. This is called opportunism. Williamson (1985) defined opportunism as “self-interest seeking with guile.” It can wreak havoc with companies, customers, stock markets and economies and is demonstrated regularly in press accounts of misstatements on financial reports and other ways senior managers use their positions to enhance their personal wealth and influence.This paper will focus on the ethical issues surrounding business relationships and how Confucianism, with its focus on trust, reciprocity and mutual benefit in relationships, can offer a moral foundation to the inter-firm arrangements that are so much a part of the contemporary business landscape. (shrink)

In the famous Correspondence with Clarke, which took place during the last year of Leibniz's life, Leibniz advanced several arguments purporting to refute the absolute theory of space and time that was held by Newton and his followers. The main aim of this book is to reassess Leibniz's attack on the Newtonian theory in so far as he relied on the principle of the identity of indiscernibles. The theological side of the controversy is not ignored but isolated and discussed in (...) the last three chapters, which deal with problems connected with the notions of omnipotence and omniscience. (shrink)

(2013). Sickle Cell Disease and the “Difficult Patient” Conundrum. The American Journal of Bioethics: Vol. 13, No. 4, pp. 3-10. doi: 10.1080/15265161.2013.767954.

The term, “bioethics” was coined in 1970 by American cancerologist V. R. Potter. In the few decades since, the field of bioethics has emerged as an important discipline. The field has attained a remarkable degree of public recognition in a relatively short period of time. The “right to die” cases such as In re Quinlan placed bioethical issues on the front pages. Although the discipline is of recent vintage, the past quarter century has witnessed a flurry of scholarly activity, creating (...) a substantial body of bioethical literature. Moreover, the bioethics movement has manifested itself in institutional expressions. Universities and medical schools have added courses in bioethics to their curricula. In 1974, federal legislation and regulations mandated that federal grantees conducting human subjects research establish institutional review boards to safeguard subjects’ welfare, and even absent a legislative mandate numerous hospitals created ethics committees. Centers and institutes, devoted exclusively to the study of bioethical issues, have been founded. (shrink)

The term, “bioethics” was coined in 1970 by American cancerologist V. R. Potter. In the few decades since, the field of bioethics has emerged as an important discipline. The field has attained a remarkable degree of public recognition in a relatively short period of time. The “right to die” cases such as In re Quinlan placed bioethical issues on the front pages. Although the discipline is of recent vintage, the past quarter century has witnessed a flurry of scholarly activity, creating (...) a substantial body of bioethical literature. Moreover, the bioethics movement has manifested itself in institutional expressions. Universities and medical schools have added courses in bioethics to their curricula. In 1974, federal legislation and regulations mandated that federal grantees conducting human subjects research establish institutional review boards to safeguard subjects’ welfare, and even absent a legislative mandate numerous hospitals created ethics committees. Centers and institutes, devoted exclusively to the study of bioethical issues, have been founded. (shrink)

This article describes, analyzes, and advocates for management of clinical healthcare conflict by a process commonly referred to as bioethics mediation. Section I provides a brief introduction to classical mediation outside the realm of clinical healthcare. Section II highlights certain distinguishing characteristics of bioethics mediation. Section III chronicles the history of bioethics mediation and references a number of seminal writings on the subject. Finally, Section IV analyzes barriers that have, thus far, limited the widespread implementation of bioethics mediation.

A unique multilevel perspective-structural social psychology-is explicated to help build theoretical bridges between micro and macro levels of analysis in sociology. The perspective portrays actors (human or corporate) as having minimal properties of purposiveness and responsiveness, encounters as interaction episodes between multiple actors, microstructures as local patterns of interaction emerging from and subsequently influencing encounters, and macrostructures as networks of social positions. These levels of analysis are connected via mutually contingent processes. Applying these assumptions, we illustrate the ability of the (...) framework to strengthen the macrosociological import of micro theories of power, status, and justice. We argue that structural social psychology is an important metatheoretical strategy for developing testable connections between individual and collective units of sociological analysis. (shrink)

This case describes a recent iteration of the Ponzi scheme originated in 1920 by Charles Ponzi: creating a plausible investment, attracting investors, using the money from more recent investors to pay off earlier investors, and earning a substantial profit, estimated to be $15 million (worth $220 million today).1 While not as big as Bernie Madoff’s Ponzi scheme, as a result of which he was sentenced to 150 years in prison and ordered to pay restitution of $170 billion to his victims,2 (...) the Federal district court in Miami was asked to order Par Funding’s cofounders, Joseph W. LaForte and his wife, Lisa McElhone, to pay $337 million to Par Funding investors and to declare they engaged in a Ponzi scheme in defrauding those investors.3 Ultimately the Federal district court in Miami ordered Par cofounders to pay “$219 million in ‘ill-gotten gains,’ fines and interest so the funds can be used to help reimburse 1,200 investors who were duped into buying the risky, unregistered securities used to finance the high-fee loan company.”4 How LaForte and McElhone executed their scheme is an intriguing story which provides helpful insight into ethical and U.S. securities law principles. (shrink)

This case study examines five dimensions of the 2007–2009 financial crisis in the United States: the devastating effects of the financial crisis on the U.S. economy, including unparalleled unemployment, massive declines in gross domestic product, and the prolonged mortgage foreclosure crisis; the multiple causes of the financial crisis and panic, such as the housing and bond bubbles, excessive leverage, lax financial regulation, disgraceful banking practices, and abysmal rating agency performance; the extraordinary efforts of the Federal Reserve, the Federal Reserve Bank (...) of New York, and the Department of the Treasury to stem the financial freefall triggered by the crisis and resuscitate financial institutions, the ethical implications of the unprecedented actions by government institutions to rescue financial institutions and drag the country back from the brink of global financial collapse, and the conduct of the various parties contributing to the financial crisis, such as the shoddy behavior of mortgage brokers, the massive securitization of mortgages into overly complex bonds, the excessive leverage of financial institutions, the disgraceful work of bond rating firms, the abysmal risk management systems employed by financial institutions, and the massive operations of the shadow banking and over-the-counter derivatives markets; and the major provisions of the Dodd–Frank Wall Street Reform and Consumer Protection Act signed into law to in response to the financial crisis and for the purpose of correcting the egregious conduct of major financial institutions. (shrink)

Climate change represents a significant challenge to the entire planet and its inhabitants. While few, if any, will be able to escape totally the effects of climate change, it will fall most heavily, at least initially, on the poor, regardless of where they reside. We may observe already possible scenarios. The tragic situation in Darfur may be less an ethnic conflict and more a clash between marginal farmers and herdsmen in an increasingly more arid local climate. More powerful storms on (...) the scale of hurricane Katrina, which affected the poor more than other economic groups, may become commonplace. The alteration of the maple sugar cycle may be a harbinger of stress on the world's flora and fauna that humanity depends upon. Mainstream climatologists have concluded that human behavior, primarily the effects of industrialization, causes human-induced climate change. Left unchecked climate change will have serious consequences for humanity, especially the poor. Business, the primary agent of industrialization, is both the problem and the solution. This paper will apply the ethics of philosophers John Rawls, Robert Nozick, and Aristotle, along with the work of strategist Michael Porter. Understanding how climate change management fits into a firm's strategic opportunity will contribute to the ability of business to develop the technologies and business processes necessary to cope with climate change. The paper will conclude with a brief discussion of GE's Ecomagination program as an example of a promising moral response to climate change. (shrink)

This chapter contains sections titled: References and Further Reading.

This article evaluates the social contract theorizing of Professors Thomas DonaIdson, Thomas Dunfee and Michael Keeley. This theorizing is tested with G.E. Moore’s concept of moral authority, with moral psychology, and by managerial utility. Both strengths and weaknesses are found in the theories and the author concludes that while there is great potential, much work in theory development remains.

Biobanks hold out the prospect of significant public and private benefit, as genetic information contained in tissue samples is mined for information. However, the storing of human tissue samples and genetic information for research and/or therapeutic purposes raises a number of serious privacy and autonomy concerns. These concerns are compounded when one considers the possibility that a biobank or its owner might go bankrupt. Insolvency impairs the ability of enforcement regimes, and liability-based regimes in particular, to enforce legal norms. The (...) goal of this essay is to develop guideposts for thinking about private and public enforcement of privacy imposed by donors on tissue samples and/or genetic information when a biobank becomes insolvent. (shrink)

Biobanks hold out the prospect of significant public and private benefit, as genetic information contained in tissue samples is mined for information. However, the storing of human tissue samples and genetic information for research and/or therapeutic purposes raises a number of serious privacy and autonomy concerns. These concerns are compounded when one considers the possibility that a biobank or its owner might go bankrupt. Insolvency impairs the ability of enforcement regimes, and liability-based regimes in particular, to enforce legal norms. The (...) goal of this essay is to develop guideposts for thinking about private and public enforcement of privacy imposed by donors on tissue samples and/or genetic information when a biobank becomes insolvent. (shrink)

This historical analysis indicates that it is highly unlikely that the Nobel Prize winning research of Hermann J. Muller was peer-reviewed. The published paper of Muller lacked a research methods section, cited no references, and failed to acknowledge and discuss the work of Gager and Blakeslee that claimed to have induced gene mutation via ionizing radiation six months prior to Muller’s non-data Science paper :84-87, 1927a). Despite being well acclimated into the scientific world of peer-review, Muller choose to avoid the (...) peer-review process on his most significant publication. It appears that Muller’s actions were strongly influenced by his desire to claim primacy for the discovery of gene mutation. The actions of Muller have important ethical lessons and implications today, when self-interest trumps one’s obligations to society and the scientific culture that supports the quest for new knowledge and discovery. (shrink)

After two generations of emphasis on governmental inefficiency and the need for deregulation, we now see growing interest in the possibility of constructive governance, alongside public calls for new, smarter regulation. Yet there is a real danger that regulatory reforms will be rooted in outdated ideas. As the financial crisis has shown, neither traditional market failure models nor public choice theory, by themselves, sufficiently inform or explain our current regulatory challenges. Regulatory studies, long neglected in an atmosphere focused on deregulatory (...) work, is in critical need of new models and theories that can guide effective policy-making. This interdisciplinary volume points the way toward the modernization of regulatory theory. Its essays by leading scholars move past predominant approaches, integrating the latest research about the interplay between human behavior, societal needs and regulatory institutions. The book concludes by setting out a potential research agenda for the social sciences. (shrink)

The first step in education's long road to respectability lay in the ability of its proponents to demonstrate that it was worthy of collaborating with traditional disciplines in the syllabus of higher learning. The universities where the infant discipline of education was promoted benefited from scholars who engaged in teaching and research with enthusiasm and preached the gospel of scientific education. These schools-Teachers College/Columbia University, the University of Chicago, and Stanford University-gained a reputation as oases of pedagogical knowledge. Soon, public (...) and private colleges alike introduced professional academic programs for the preparation of teachers. Foremost among the subjects for these programs was education philosophy, with its long history and the impeccable credentials of its ancient and modern expositors. Although the principal focus of this study is the history of educational philosophy in colleges and universities, it also recognizes educational philosophy's antecedents. Chapters cover ancient roots, Christian educational theory, educational theory and the modern world, philosophy and education in early America, development of philosophies of education, disciplinary maturity for educational philosophy, and prospects. There is a bibliography and an index. (shrink)

We discuss significant challenges to assumptions of exclusivity and highlight methodological and conceptual pitfalls in inferring deliberative processes from reasoning responses. Causes of normative–deliberative gaps are considered (e.g., disputed or misunderstood normative standards, strategy preferences, task interpretations, cognitive ability, mindware and thinking dispositions) and a soft normativist approach is recommended for developing the dual-process 2.0 architecture.

In lieu of an abstract, here is a brief excerpt of the content:CompassionEdward J. VolpintestaTo the Editor: In his essay, “Can We Mandate Compassion?” (March–April 2011), Ron Paterson, a former health and disability commissioner in New Zealand, discusses the decline of physicians’ compassion—an issue that is receiving more attention in the media, and in our journals, hospitals, and medical societies, as well.He decided—and I agree—that compassion should not be mandated. How could it be? After all, it’s unquantifiable; it’s not meted (...) out in milliliters or grams. Compassion is a spontaneous emotion that arises from the individual caregiver’s spiritual reservoirs. Trying to regulate or mandate it would be absurd—the ultimate attempt at dehumanizing medicine. Giving students more exposure to the humanities, however, and teaching doctors what is not acceptable in “terms of conduct, attitudes, and behavior” may increase awareness of its importance. Putting that awareness into action is another thing.Could it be that physicians are too hard-pressed for time and too overstressed with ordering and interpreting tests that they have little time and energy left for compassion? Has the threat of malpractice suits made physicians distrust patients, seeing them more as potential lawsuits than as suffering human beings, as horrible as that may sound to some? Or has the vast amount of new medical knowledge that rapidly reaches doctors given them an information overload so great that they have room only for cognition and none for emotion? When one adds the pressure physicians feel to control costs and to follow guidelines that often clash with their judgment, it becomes clear why compassion has declined.As a primary care doctor, there are days when all I have to offer some patients is compassion. A divorce, problems with personal finances, depression, a recent death, a child in trouble with the law or with drugs, an unwanted pregnancy—these are some of the problems that are the most difficult and time-consuming for me. They do not require any new scientific knowledge. Like compassion, they are not quantifiable, and there are no board exams to test how well I help my patients cope with them. There is also no code that I can send to an insurance company that will accurately convey what I have done, or its value to my patients. Only my patient and I are aware of whether I was able to use compassion in a way that helped. How could it be otherwise?It is much easier for me to treat a patient with pneumonia or conjunctivitis. I doubt that there ever will be a foolproof way to teach compassion to physicians. Perhaps performing psychological tests on incoming medical students may be the best way to determine which are most inclined to become compassionate physicians.The Flexner Report of 1910, which contained many recommendations for improving medical education, may have overstressed the importance of science while neglecting the human dimensions of medical practice. The Carnegie Foundation, which funded the original study, has undertaken a second examining any unintended consequences of the first. Unlike the first, which was dominated by one man, the second comprises a broad team of educators, doctors, philosophers, and psychologists. Perhaps this broader approach will restore compassion to its rightful place.Letters to the editor may be sent by e-mail to [email protected], or to Managing Editor, Hastings Center Report, 21 Malcolm Gordon Road, Garrison, NY 10524; (845) 424-4931 fax. Letters appearing in the Report may be edited for length and stylistic consistency.Statement of Ownership, Management, and CirculationThe Hastings Center Report is a bimonthly journal published by The Hastings Center, 21 Malcolm Gordon Road, Garrison, NY 10524. The editor is Gregory Kaebnick, at the same address. The annual subscription price is $80; contact person is Anne Marie Schoonhoven; telephone number is 845-424-4040. The tax status of the organization has not changed during the preceding twelve months.As of the filing date of September 6, 2011, the average number of copies of each issue during the preceding twelve months was 3,342; the actual number of copies of the single issue published nearest to the filing date was 3,150. The journal has a total paid and/or requested circulation... (shrink)

This translation and commentary on Xunzi’s Tian Lun argues against naturalistic interpretations of Tian. Tracing the course of interpretation of Xunzi down to the present, discussing some of the influences that affected how he was understood, and raising questions about some contemporary revisionary attempts, Machle suggests unusual lines of interpretation.