In recent years, critics have argued that, when inter-generational transfer programs such as Medicare are judged by the standard of "generational equity", these programs are seen to be unfair. It is argued that, under a pay-as-you-go system, future generations are committed to burdens without their consent; that claims are not contractually guaranteed; that early entrants reap windfalls gains; that successive cohorts are tempted to provide insupportably high benefit levels; and, finally, that fluctuations leave future generations at unacceptable (...) risk. Attempts have been made to defend social insurance programs by means of a "lifespan prudential model" of age-group resource allocation, but this defense does not adequately take account of uncertainties and inequities faced by historical birth cohorts. A deeper defense must acknowledge an element of risk-sharing and solidarity while trying to limit inequities within reasonable bounds. Keywords: elderly, health care, equity, social insurance CiteULike Connotea Del.icio.us What's this? (shrink)

The phenomenon of global warming, the anthropogenic theory of its genesis and some of the implications of that theory are introduced as a case-study of a global environmental problem involving issues of equity between peoples, generations and species. We should favour the proportioning of emission quotas topopulation, if the charges of anthropocentrism and of discrimination against future generations can be avoided. It is argued that these charges can be replied to satisfactorily, if emissions totals are set low enough for (...) the likely needs of other species and other generations. There should also be limits to the inter-state trading of quotas to ensure that all countries retain enough of their quotas to satisfy basic needs. The anthropogenic theory might instead be held to favourtying emissions quotas to aggregate historical emissions of the last two centuries. But intergenerational equity requires a sustainable international regime, based on universal principles rather than history. (shrink)

Both intertemporal and intratemporal equity are central to the examination of policy towards climate change. However, many discussions of intertemporal issues have been marred by serious analytical errors, particularly in applying standard approaches to discounting; the errors arise, in part, from paying insufficient attention to the magnitude of potential damages, and in part from overlooking problems with market information. Some of the philosophical concepts and principles of Paper 1 are applied to the analytics and ethics of pure-time discounting and (...) infinite-horizon models, providing helpful insights into orderings of welfare streams and obligations towards future generations. Such principles give little support for the idea of discrimination by date of birth. Intratemporal issues are central to problematic and slow-moving international discussions and are the second focus of this paper. A way forward is to cast the policy issues and analyses in a way that keeps equity issues central and embeds them in the challenge of fostering the dynamic transition to the low-carbon economy in both developed and developing countries. This avoids the trap of seeing issues primarily in terms of burden-sharing and zero-sum games – that leads to inaction and the most inequitable outcome of all. (shrink)

Following the recommendations of the US National Academy of Sciences and the mandates of the 1987 Nuclear Waste Policy Amendments Act, the US Department of Energy has proposed Yucca Mountain, Nevada as the site of the world's first permanent repository for high-level nuclear waste. The main justification for permanent disposal (as opposed to above-ground storage) is that it guarantees safety by means of waste isolation. This essay argues, however, that considerations of equity (safer for whom?) undercut the safety rationale. (...) The article surveys some prima facie arguments for equity in the distribution of radwaste risks and then evaluates four objections that are based, respectively, on practicality, compensation for risks, scepticism about duties to future generations, and the uranium criterion. The conclusion is that, at least under existing regulations and policies, permanent waste disposal is highly questionable, in part, because it fails to distribute risk equitably or to compensate, in full, for this inequity. (shrink)

Intergenerational Equity: Environmental and Cultural Concerns tackles intergenerational equity from various perspectives with a view to understanding what is fair and/or just within and among generations.

Can the institutional systems that prepare Black nurse researchers question the ways their systemic pathways have impacted health equity knowledge development in nursing? We invite our readers to keep this question in mind and engage with our conversation as Black nurse researchers, scholars, educators, and clinicians. The purpose of our conversation, and this article, is to explore the transactional impact of knowledge development pathways and Black faculty retention pathways on the state of health equity knowledge in nursing today. (...) Over a series of conversations, we discuss the research exploitation of communities of color, deficit research funding, knowledge capitalization, the marginalization of diversity as a continuous process, a lack of sociocultural authority, and our thoughts on solutions. We conclude by using the wisdom of a generation to answer our initial question. (shrink)

The recent global financial crisis and economic recession has generated renewed inquiry into and debate over optimal regulation of financial sectors. One such topic of interest concerns how to define, monitor, and regulate the responsibilities of private equity investors. Waves of private equity acquisitions have occurred since the 1980s. The more negative aspects of private equity investment are now under renewed scrutiny. The topic has wide scope, including the recent GM and Chrysler situations. A recent lawsuit by (...) Mervyn’s LLC, a retail department chain operating mostly in California, filed against its private equity owners highlights some of the complex issues in this topic area. The paper examines the Mervyn’s situation based on public information; and places the lawsuit in the broader scope of the topic area. The paper examines the Chrysler situation based on public information; and reports the changes in Chrysler ownership. (shrink)

Using PitchBook’s private equity database of 4548 PE funds from 42 countries for the 2000 to 2012 period, we find that higher reporting frequency is associated with lower information asymmetry in performance reports from general partners to limited partners. We also find that endowments are systematically associated with less reported unrealized returns as a percentage of total returns generated from GPs. Moreover, endowments receive more performance reports from their PE funds, implying more stringent governance. These findings persist after controlling (...) for various institutional and GP characteristics and are robust to several adjustments for endogeneity concerns. This study also contributes to the finance, accounting, and business ethics literature on financial reporting quality. (shrink)

Across the applied ethics literatures are a growing number of ethical tools: decision-support methodologies that encourage multi-stakeholder deliberative engagement with the social and moral issues arising from technology assessment and environmental management processes. This article presents a novel ethical tool for deliberation on the issue of environmental justice between current and future generations over long time frames. This ethical tool combines two approaches, linking John Dewey's concept of dramatic rehearsal - an empathetic and imaginative ethical deliberation process; with the methodologies (...) of backcasting - a type of scenario planning technique drawn from the future studies literature. The proposed hybrid 'Deweyan Backcasting' approach combines a creative process of devising multi-stakeholder visions of potentially desirable futures, with practical evaluation of the technical, social and political networks necessary to make such futures happen. It is suggested that such a model can provide a fruitful means for evaluating intergenerational environmental equity issues in long-range policy and planning. (shrink)

Climate change is projected to have very severe impacts on future generations. Given this, any adequate response to it has to consider the nature of our obligations to future generations. This paper seeks to do that and to relate this to the way that inter-generational justice is often framed by economic analyses of climate change. To do this the paper considers three kinds of considerations that, it has been argued, should guide the kinds of actions that one generation should (...) take if it is to treat both current and future people equitably. In particular it examines the case for what has been termed pure time discounting, growth discounting and opportunity cost discounting; and it assesses their implications for climate policy. It argues that none of these support the claims of those who think they give us reason to delay aggressive mitigation policies. It also finds, however, that the second kind of argument can, in certain circumstances, provide support for passing on some of the costs of mitigation to future generations. (shrink)

A steady demand for green products from concerned consumers has led companies to introduce new product lines that match or exceed consumer environmental concerns. Nonetheless, not all the organizations were able to achieve significant returns on their investments in green products. These failures are generally attributed towards companies’ inability to overcome consumer scepticism towards the performance of functional and green attributes of their brands to generate a positive green image and green value in consumers mind. Therefore, the question arises that (...) does the success in promoting green brand image and value depend on consumer existing perceptions about the brand quality and credibility? This study analyzes the influence of brand perceive quality and credibility on consumer perceptions towards a brand green image, green value and green equity. A theoretical model with hypothesized relationships is developed and tested to answer these research questions. Data have been collected from the consumers of electrical and electronic goods. The hypothesized relationships were tested with the help of structural equation modeling procedure. The results suggest that brand perceived quality and its overall credibility does have a significant influence on generating a greener image, green perceive value and green brand equity. (shrink)

Large mining projects can generate highly inequitable outcomes, with affected communities bearing the burden of social and environmental costs while economic benefits accrue largely to domestic and foreign metropolitan centres. This raises important ethical and social justice issues, as does the finite nature of mineral resources, which can mean that current generations enjoy the benefits of mining while future generations bear the costs of environmental and social impacts that can continue long after mining ends. During recent decades two broad approaches, (...) voluntary industry initiatives and government regulation, have been employed in attempts to achieve a more equitable distribution of mining’s positive and negative effects. Both have serious drawbacks. Industry initiatives are ultimately voluntary and may be abandoned in tough economic times; they can be highly variable across companies and projects; and they suffer from serious compliance issues. Public regulation can be inflexible, is subject to industry capture, and in many major mineral producing nations a ‘retreat from regulation’ is reducing its relevance. This article considers whether, and under what conditions, a third and emergent instrument, community development agreements, can help overcome the shortcomings associated with industry initiatives and public regulation. It argues that CDAs have considerable potential in this regard, but that communities can encounter significant practical challenges in their negotiation and implementation. In addition, disparities in negotiation power between communities and project developers can result in inequitable agreements, indicating a continued need for government involvement to create a more level ‘negotiation terrain’. (shrink)

Teachers involved in English as a foreign language (EFL) teaching play a significant role in the process of moving toward educational equity. Teacher cognition is very influential in shaping teacher practice and thus affects students’ academic performance. However, although the role of EFL teachers as equity agents has been recognized, few studies have explored EFL teachers in-depth in terms of their cognition and practice. Moreover, no review studies have given sufficient attention to the task of elucidating the interrelations (...) between EFL teachers’ cognition and practices in the context of educational equity. Therefore, to provide a novel perspective and generate fresh insights into this research field, the current study attempts to explain the connotations of these constructs, highlights the interplay between EFL teachers’ equity-oriented cognition and practice, and identifies both experiential and contextual factors that might have an effect throughout the teaching process. Finally, practical implications and directions for teachers, researchers, policy-makers, and social justice leaders who are interested in actualizing education as a means of attaining equity are also discussed. (shrink)

Community engagement is gaining prominence in global health research. So far, a philosophical rationale for why researchers should perform community engagement during such research has not been provided by ethics scholars. Its absence means that conducting community engagement is still often viewed as no more than a ‘good idea’ or ‘good practice’ rather than ethically required. In this article, we argue that shared health governance can establish grounds for requiring the engagement of low‐ and middle‐income country (LMIC) community members in (...) global health research, where such research aims to help reduce health disparities. This philosophical basis has important implications for the ethical goals ascribed to engagement and the approach adopted to undertake it. We suggest the ethical goals of engagement in equity‐oriented global health research should include: (a) generating research topics and questions that reflect the key problems disadvantaged groups face in accessing healthcare, services and broader social determinants of health and (b) promoting the translation of research findings into policy and practice in ways that benefit the health of disadvantaged groups. We propose engagement practice should have the following features: deliberation with LMIC community members to make a range of project decisions, beginning with setting research topics and questions; inclusion of members of disadvantaged groups and those with the power to change policy and practice to benefit them; and purposeful structuring of deliberations to minimize the impact of power disparities between LMIC community members. Finally, we reflect on how these features differ from those typical of much current community engagement practice in LMICs. (shrink)

In a previous issue of Zygon (Carvalho 2007), I explored the role of scientists—especially those engaging the science-religion dialogue—within the arena of global equity health, world poverty, and human rights. I contended that experimental biologists, who might have reduced agency because of their professional workload or lack of individual resources, can still unite into collective forces with other scientists as well as human rights organizations, medical doctors, and political and civic leaders to foster progressive change in our world. In (...) this article, I present some recent findings from research on three emerging viruses—HIV, dengue, and rotavirus—to explore the factors that lead to the geographical expansion of these viruses and the increase in frequency of the infectious diseases they cause. I show how these viruses are generating problems for geopolitical stability, human rights, and equity health care for developing nations that are already experiencing a growing poverty crisis. I suggest some avenues of future research for the scientific community for the movement toward resolution of these problems and indicate where the science-religion field can be of additional aid. (shrink)

Abstract.In a previous issue of Zygon (Carvalho 2007), I explored the role of scientists—especially those engaging the science‐religion dialogue—within the arena of global equity health, world poverty, and human rights. I contended that experimental biologists, who might have reduced agency because of their professional workload or lack of individual resources, can still unite into collective forces with other scientists as well as human rights organizations, medical doctors, and political and civic leaders to foster progressive change in our world. In (...) this article, I present some recent findings from research on three emerging viruses—HIV, dengue, and rotavirus—to explore the factors that lead to the geographical expansion of these viruses and the increase in frequency of the infectious diseases they cause. I show how these viruses are generating problems for geopolitical stability, human rights, and equity health care for developing nations that are already experiencing a growing poverty crisis. I suggest some avenues of future research for the scientific community for the movement toward resolution of these problems and indicate where the science‐religion field can be of additional aid. (shrink)

There is societal consensus that cancer clinical trial participation is unjust because some sociodemographic groups have been systematically underrepresented. Despite this, neither a definition nor an ethical explication for the justice norm of equity has been clearly articulated in this setting, leading to confusion over its application and goals. Herein we define equity as acknowledging sociodemographic circumstances and apportioning resource and opportunity allocation to eliminate disparities in outcomes, and we explore the issues and tensions this norm generates through (...) practical examples. We assess how equality-based enrollment structures in clinical cancer research have perpetuated historical disparities and what equity-based alternatives are necessary to achieve representativeness and an expansive conception of participatory justice in clinical cancer research. This framework addresses the breadth from normative to applied by defining the justice norm of equity and translating it into practical strategies for addressing participation disparities in clinical cancer research. (shrink)

Possible environmental and related impacts of human activity are shown to include the extinction of humanity and other sentient species, excessive human numbers, and a deteriorating quality of life (I). I proceed to argue that neither future rights, nor Kantian respect for future people's autonomy, nor a contract between the generations supplies a plausible basis of obligations with regard to future generations. Obligations concern rather promoting the well-being of the members of future generations, whoever they may be, as well as (...) of current generations. Future benefits and costs should only be discounted where there are special reasons for doing do so (e.g. relevant opportunity costs) (II). A sustainable economy is held to be necessary for intergenerational equity. This granted, principles of equity are introduced concerning: compensation for long-term risks and for resource depletion; conserving the stock of resources, resource diversity, and assimilative capacity; equal options and opportunities for each generation; and remedying past failures to conserve environmental quality. Rules and policies considered include: an efficient, diversified, and ecologically sustainable economy; no increase of risk of irreversible environmental change; and action despite uncertainty to avert serious future outcomes (the Precautionary Principle). These policies are argued to require rectification of current injustices within and between current generations (III). Finally, the recently resuscitated metaphysical model of society as a partnership between generations is held to imply the view of each generation as trustees rather than owners of the planet. This trusteeship view is independently credible, and supportive of the principles and policies earlier introduced; and its adoption by successive generations could turn the partnership model into a reality (IV). (shrink)

Journals have been described as “duty bearers” of upholding fundamental ethical principles that are essential for maintaining the ethical integrity of newly generated and disseminated knowledge. To play our part, we evaluated diversity and inclusion in the leadership and management of global and international health journals. We developed Journal Diversity Index (JDI) to measure three parameters of diversity and representation (gender, geographic, socioeconomic status). Relevant information regarding editorial board members of systematically screened journals was sequentially extracted and job titles were (...) categorized into five editorial roles. Chi-squared test was utilized to study associations between gender and geographic distribution of editors along with the Medline indexing of the journal and its impact factor. Out of 43 journals included, 62.7% were published from two high-income countries. Women comprised 44% of the total editors. Among all the editorial board members, we did not find any information suggesting the representation of non-binary and transgender individuals. Furthermore, 68.2% of editors were based in high-income countries with 67.3% of the editors belonging to the Global North. This disparity in geographic region and socioeconomic level was observed across all five editorial roles. Among all women editors, more than 70% worked in non-Medline and non-impact factor journals. Only two journals scored “excellent” on JDI. Despite the continuous evolution of the definition of global health ethics, marginalized individuals, and their perspectives remain underrepresented in this field. Thus, we call for swift action regarding the decentralization and redistribution of global and international health journal editorial boards. (shrink)

Ramsey famously condemned discounting “future enjoyments” as “ethically indefensible”. Suppes enunciated an equity criterion which, when social choice is utilitarian, implies giving equal weight to all individuals’ utilities. By contrast, Arrow (Contemporary economic issues. International Economic Association Series. Palgrave Macmillan, London, 1999a; Discounting and Intergenerational Effects, Resources for the Future Press, Washington DC, 1999b) accepted, perhaps reluctantly, what he called Koopmans’ (Econometrica 28(2):287–309, 1960) “strong argument” implying that no equitable preference ordering exists for a sufficiently unrestricted domain of infinite (...) utility streams. Here we derive an equitable utilitarian objective for a finite population based on a version of the Vickrey–Harsanyi original position, where there is an equal probability of becoming each person. For a potentially infinite population facing an exogenous stochastic process of extinction, an equitable extinction biased original position requires equal conditional probabilities, given that the individual’s generation survives the extinction process. Such a position is well-defined if and only if survival probabilities decline fast enough for the expected total number of individuals who can ever live to be finite. Then, provided that each individual’s utility is bounded both above and below, maximizing expected “extinction discounted” total utility—as advocated, inter alia, by the Stern Review on climate change—provides a coherent and dynamically consistent equitable objective, even when the population size of each generation can be chosen. (shrink)

This paper begins with the observation that the contemporary eco-building movement in the UK focuses on technology with the principal aim of reducing carbon emissions and so combating climate change. While this focus may translate into justice for future generations, there seems markedly less regard for justice for others in intragenerational space. I analyse the eco-building movement's framings of sustainable development and sustainability, seeking out statements of equity via the criteria used for building materials selection. Closely defining equity (...) as theory and practice, analysis reveals that framings of sustainable development and sustainability in the eco-building movement vary considerably in their engagement with intragenerational equity. This begs the question of whether the movement has a shared political critique. There is a marked tendency to view discourses of environmental sustainability and social justice as distinct rather than mutually constitutive. I propose that the eco-building movement should engage in a politics of the common good (Sandel, 2010), contesting equity in the public domain. Wary of the reach of markets, the eco-building movement should debate not only the right way to distribute building materials and shelter but also the right way to value them. (shrink)

Ramsey famously condemned discounting “future enjoyments” as “ethically indefensible”. Suppes enunciated an equity criterion which, when social choice is utilitarian, implies giving equal weight to all individuals’ utilities. By contrast, Arrow accepted, perhaps reluctantly, what he called Koopmans’ :287–309, 1960) “strong argument” implying that no equitable preference ordering exists for a sufficiently unrestricted domain of infinite utility streams. Here we derive an equitable utilitarian objective for a finite population based on a version of the Vickrey–Harsanyi original position, where there (...) is an equal probability of becoming each person. For a potentially infinite population facing an exogenous stochastic process of extinction, an equitable extinction biased original position requires equal conditional probabilities, given that the individual’s generation survives the extinction process. Such a position is well-defined if and only if survival probabilities decline fast enough for the expected total number of individuals who can ever live to be finite. Then, provided that each individual’s utility is bounded both above and below, maximizing expected “extinction discounted” total utility—as advocated, inter alia, by the Stern Review on climate change—provides a coherent and dynamically consistent equitable objective, even when the population size of each generation can be chosen. (shrink)

A theory of transgenerational justice ought to be grounded on intuitions shared in the human community. One is parental responsibility, postulating duties between the generating and the generated in a realm of proximity. To achieve greater political abstraction, it is necessary to deny self-sufficiency to such primary transgenerational level, arguing for its structural need to rely on external sources distant in space and time. A critical cross-examining of concepts relevant to justify the leap from proximity to distance follows (community and (...) society, equity and equality, singularity and repetition). The outcome is a notion of ius as object of transgenerational quest, including future generations only at the price of avoiding contractualist understandings of bonds between living and non-living entities. (shrink)

The well-being of generations yet to come must necessarily be an important concern for the present. As an extension of Rawls’ ‘just savings’ principle, one of the arguments for sustainable development is that of intergenerational equity—the idea that future generations must have the same access to natural resources as the present generation. In this article, I attempt to reconcile the divergent positions of the shareholder and stakeholder primacy debate by proposing that directors—acting for the corporation—should preserve intergenerational equity. (...) Three arguments are presented in course of this proposition. Firstly, corporations are perpetual in nature and their continuing existence is predicated upon the ability of individual owners to transfer their ownership. Second, directors have a higher fiduciary duty to the corporation and future shareholders, over that of present shareholders. Finally, in order to safeguard the interests of future shareholders, corporations must necessarily strive to preserve the natural and social environments upon which the future of the corporation and the wealth of future shareholders depend. (shrink)

The well-being of generations yet to come must necessarily be an important concern for the present. As an extension of Rawls’ ‘just savings’ principle, one of the arguments for sustainable development is that of intergenerational equity—the idea that future generations must have the same access to natural resources as the present generation. In this article, I attempt to reconcile the divergent positions of the shareholder and stakeholder primacy debate by proposing that directors—acting for the corporation—should preserve intergenerational equity. (...) Three arguments are presented in course of this proposition. Firstly, corporations are perpetual in nature and their continuing existence is predicated upon the ability of individual owners to transfer their ownership. Second, directors have a higher fiduciary duty to the corporation and future shareholders, over that of present shareholders. Finally, in order to safeguard the interests of future shareholders, corporations must necessarily strive to preserve the natural and social environments upon which the future of the corporation and the wealth of future shareholders depend. (shrink)

The 'business judgement rule ' requires corporate directors only to act with honesty and reasonable care in the interest of shareholders. A stronger ' fiduciary ' duty is required where one party requires protection from another. This paper argues that where corporations take risks with the environment, directors are fiduciaries. Stakeholders are in that case the general public, future generations and other species, which have not voluntarily accepted risk and cannot limit liability. Recognition of fiduciary duty in such cases is (...) consistent with recent trends in the law of equity. It would require all economic activities to move from open to closed systems. (shrink)

In this article, we apply the UN Guiding Principles on Business and Human Rights to the private equity (PE) business model. PE firms often adopt a controversial, ‘value extractive’, business model based on high debt and extreme cost-cutting to generate investor returns. PE firms own large numbers of companies, including in many rights-related sectors. The model is linked to increased human rights risks to workers, housing tenants, and in privatized health and social care. We map these risks and analyse (...) the human rights responsibilities of PE firms. Our analysis has major implications for understandings of human rights responsibility. We argue that value extractive methods are the root cause of eventual harm to human rights, even though they may not harm rights directly. To respect human rights, PE firms must mitigate the risks of these value extractive methods. We define how human rights due diligence (HRDD) could achieve this and argue that given the extent of harm and the lack of a business case for adopting such a view of human rights responsibility, business strategy level HRDD should be a core component of forthcoming HRDD laws. (shrink)

This paper discusses different ways of formulating regulation that takes into account a responsibility towards future generations in environmental issues. A rights-based or human-rights based approach, based on notions of intergenerational equity, can be problematic on a conceptual level, and implementation of rights for future generations is challenging. An alternative approach is based on the assignment of duties to present generations rather than rights of future generations. This approach, which is often used in regulation concerning sustainability, uses goal regulation (...) to avoid conceptual problems with rights of future generations while it still provides the opportunity to safeguard their interests and needs. (shrink)

This paper presents a new decision theory for modelling choice under risk. The new theory is a two-parameter generalization of expected utility theory. The proposed theory assumes that a decision maker: behaves as if maximizing expected utility; but may experience disappointment when the utility of a lottery’s outcome falls short of the expected utility of the lottery; and may have a preference for gambling. The proposed theory can rationalize the fourfold pattern of risk attitudes; the common ratio effect and the (...) reverse thereof ; the Allais paradox in classical common consequence problems and the reverse Allais paradox—in common consequence problems with an even split of a probability mass; violations of the betweenness axiom; switching behavior in the Samuelson’s example; violations of ordinal, upper and lower cumulative independence ; and preference reversals between valuations and choice. In application to insurance, the theory can rationalize full insurance with an actuarially unfair premium and aversion to probabilistic insurance. In application to optimal portfolio investment, the theory can rationalize the equity premium puzzle. (shrink)

_Higher Education and the Color Line_ examines the role of higher education in opening up equal opportunity for mobility in American society--or in reinforcing the segregation between white and nonwhite America. In the wake of the U.S. Supreme Court's landmark decision upholding affirmative action, this comprehensive and timely book outlines the agenda for achieving racial justice in higher education in the next generation. Weaving together current research and a discussion of overarching demographic, legal, and political issues, the book focuses on (...) the racial transformation of higher education and the structural barriers that perpetuate racial stratification at the postsecondary level. _Higher Education and the Color Line_ includes chapters that outline the demographic changes in elementary, secondary, and postsecondary school enrollment; the evolving role of law and policy; the barriers faced by minority college students; and the kinds of programs that best serve them. Topics addressed include financial aid; the role of community colleges; nontraditional paths to postsecondary education; and the role of higher education in social and economic mobility. In addition to providing a thorough and up-to-date assessment of the state of racial integration in higher education, the book goes beyond the usual black-and-white analysis to provide a multiethnic perspective supported by extensive new data. Taken together, these discussions examine the role of higher education in opening up equal opportunity for mobility in American society--or in reinforcing the segregation between white and nonwhite America. It provides insight for how institutions, states, and the country should be thinking about U.S. Supreme Court Justice Sandra Day O’Connor’s hope that affirmative action will no longer be needed in 25 years. (shrink)

The main international standard-setting agencies for ionizing radiation, the International Atomic Energy Agency (IAEA) and the International Commission on Radiological Protection (ICRP) both subscribe to principles which (they claim) lead to equitable protection for all generations exposed to radioactive pollution. Yet, when one examines the practices both groups support, it is clear that these practices discriminate against future generations with respect to radioactive pollution. After showing (I) that the IAEA and ICRP rhetoric of equity does not match their policies (...) and practices, the essay argues (2) that current people ought to try to treat members of future generations equitably with respect to protection from radioactive pollution. The essay also argues (3) that current policies of permanent disposal of high-level radioactive waste do not meet the second criterion, and therefore (4) that society ought to investigate whether another strategy for managing the waste would provide better equal protection among all generations. (shrink)

There are two types of stock price manipulation examined in the theoretical literature: insider trading, which involves private information that is true and the public spreading of fraudulent false information. While there is a large empirical literature on insider trading, this is the first empirical article to examine the impact of false, fraudulent public information on stock prices and trading volume. We find that such false information, even after being denied by a credible source such as the SEC, generates both (...) abnormal returns and abnormal trading volume. We also find that the effects of the false information on security returns and volume can be persistent for at least 2 weeks. In addition, we show that perpetrators of false news attacks can make potentially large profits from such market manipulations. (shrink)

The phenomenon of global warming, the anthropogenic theory of its genesis and some of the implications of that theory are introduced as a case-study of a global environmental problem involving issues of equity between peoples, generations and species. In particular, recognition of the view that the absorptive capacities of the atmosphere comprise an instance of the Common Heritage of Humankind would have a key bearing on negotiations downstream from the Kyoto Protocol, suggesting the proportioning of emission quotas to population, (...) and also limits to the inter-state trading of quotas. This view and these possible implications are discussed; international regimes with such a basis are argued to have a firmer foundation than ones based on historical emission levels (such as the Kyoto agreement), and to escape the charge of anthropocentrism to which stress on the Common Heritage of Humankind appears to expose them. The anthropogenic theory might be held, instead, to favour tying emissions quotas to aggregate historical emissions of the last two centuries. But intergenerational equity requires a sustainable international regime, based on universal principles rather than history. (shrink)

Ramsey famously pronounced that discounting “future enjoyments” would be ethically indefensible. Suppes enunciated an equity criterion implying that all individuals’ welfare should be treated equally. By contrast, Arrow accepted, perhaps rather reluctantly, the logical force of Koopmans’ argument that no satisfactory preference ordering on a sufficiently unrestricted domain of infinite utility streams satisfies equal treatment. In this paper, we first derive an equitable utilitarian objective based on a version of the Vickrey–Harsanyi original position, extended to allow a variable and (...) uncertain population with no finite bound. Following the work of Chichilnisky and others on sustainability, slightly weakening the conditions of Koopmans and co-authors allows intergenerational equity to be satisfied. In fact, assuming that the expected total number of individuals who ever live is finite, and that each individual’s utility is bounded both above and below, there is a coherent equitable objective based on expected total utility. Moreover, it implies the “extinction discounting rule” advocated by, inter alia, the Stern Review on climate change. (shrink)

The paper investigates the characteristics of the global restructuring of the agricultural and food system that has occurred in recent years. Emphasis is placed on the emergence of the “Food and Natural Resource Question” and its relation to the “Agrarian Question.” It is argued that rather than being separate issues, these are two aspects of a unified process occurring at the global level. Moreover, it is argued that the transnational unity of the agrarian question and the food question mandates a (...) reconstruction of the arena within which production takes place. This phenomenon in turn generates a set of limits to domestic political institutions and locally generated social demands. The implications of the emergence of the international arena as locus of political action is discussed vis-a-vis the local level of socio-political action. (shrink)

This paper presents a systematic discussion, mainly for non-economists, on economic approaches to the concept of sustainable development. As a first step, the concept of sustainability is extensively discussed. As a second step, the argument that it is not possible to consider sustainability only from an economic or ecological point of view is defended; issues such as economic-ecological integration, inter-generational and intra-generational equity are considered of fundamental importance. Two different economic approaches to environmental issues, i.e. neo-classical environmental (...) economics and ecological economics, are compared. Some key differences such as weak versus strong sustainability, commensurability versus incommensurability and ethical neutrality versus different values acceptance are pointed out. (shrink)

This study examines whether Canadian governments have adapted budgets for the ageing population in accordance with norms of intergenerational justice. Public finance data in 2016 are analysed compared to 1976 in light of three constructs: the elderly/non-elderly ratio of social spending change, intergenerational reciprocity, and ability to pay. Findings include that governments increased per capita spending for seniors 4.2 times faster than for those under the age of 45; public finance requires younger Canadians to contribute 22%-62% more in income taxes (...) for the elderly now by comparison with 1976; and the contemporary ageing population has a greater ability to pay than cohorts immediately before and after them. (shrink)

Sustainability has become a major goal of domestic and international development. This essay analyzes the transitions of normative ideas embedded in the notion of sustainability by reviewing the discourses in the representative reports and literature from different periods. Three sets of ideas are proposed: inter- and intra-generational equity, stability of public systems, and a sense of solidarity, which confirms the scope of community and functions as a precondition for the previous two ideas. This essay uses the case of (...) a health system in a hypothetical country to illustrate that, besides securing financial sustainability, a genuinely sustainable public system must also meet the three normative ideas of sustainability. This essay also finds that these three ideas may create intrinsic tensions within the prevalent policy-making model—democracy. The pursuit of sustainability is not only the responsibility of a democratic government, but also a shared moral obligation of the body politic. (shrink)

How much responsibility ought a professional engineer to have with regard to supporting basic principles of sustainable development? While within the United States, professional engineering societies, as reflected in their codes of ethics, differ in their responses to this question, none of these professional societies has yet to put the engineer’s responsibility toward sustainability on a par with commitments to public safety, health, and welfare. In this paper, we aim to suggest that sustainability should be included in the paramountcy clause (...) because it is a necessary condition to ensure the safety, health, and welfare of the public. Part of our justification rests on the fact that to engineer sustainably means among many things to consider social justice, understood as the fair and equitable distribution of social goods, as a design constraint similar to technical, economic, and environmental constraints. This element of social justice is not explicit in the current paramountcy clause. Our argument rests on demonstrating that social justice in terms of both inter- and intra-generational equity is an important dimension of sustainability (and engineering). We also propose that embracing sustainability in the codes while recognizing the role that social justice plays may elevate the status of the engineer as public intellectual and agent of social good. This shift will then need to be incorporated in how we teach undergraduate engineering students about engineering ethics. (shrink)

In its restless metamorphosis, the environmental movement captures ideas and transforms them into principles, guidelines and points of leverage. Sustainability is one such idea, now being reinterpreted in the aftermath of the 1992 Rio Conference. So too is the precautionary principle. Like sustainability, the precautionary principle is neither a well defined principle nor a stable concept. It has become the repository for a jumble of adventurous beliefs that challenge the status quo of political power, ideology and civil rights. Neither concept (...) has much coherence other than it is captured by the spirit that is challenging the authority of science, the hegemony of cost-benefit analysis, the powerlessness of victims of environmental abuse, and the unimplemented ethics of intrinsic natural rights and inter-generational equity. It is because the mood of the times needs an organising idea that the precautionary principle is getting a fair wind. However, unless its advocates sharpen up their understanding of the term, the precautionary principle may not establish the influence it deserves. Its future looks promising but it is not assured. (shrink)

In its restless metamorphosis, the environmental movement captures ideas and transforms them into principles, guidelines and points of leverage. Sustainability is one such idea, now being reinterpreted in the aftermath of the 1992 Rio Conference. So too is the precautionary principle. Like sustainability, the precautionary principle is neither a well defined principle nor a stable concept. It has become the repository for a jumble of adventurous beliefs that challenge the status quo of political power, ideology and civil rights. Neither concept (...) has much coherence other than it is captured by the spirit that is challenging the authority of science, the hegemony of cost-benefit analysis, the powerlessness of victims of environmental abuse, and the unimplemented ethics of intrinsic natural rights and inter-generational equity. It is because the mood of the times needs an organising idea that the precautionary principle is getting a fair wind. However, unless its advocates sharpen up their understanding of the term, the precautionary principle may not establish the influence it deserves. Its future looks promising but it is not assured. (shrink)

Pensions and social insurance—key parts of the welfare state—redistribute income and wealth across class by providing, or not providing, practical and legitimate access to basic income without requiring work for pay. Mistaken attention to generational equity and austerity economics creates a set of beliefs that older people should work more, forming what the article calls an emerging “Working Longer Consensus,” which is supported by three false doctrines. Using OECD data and secondary sources, the article counters each false doctrine (...) by showing that healthy longevity gains are not distributed equally; there is no demonstrated trade-off between public spending for the elderly and children; and a greater supply of elder labor does not necessarily mean economic prosperity. The Working Longer Consensus, like the Washington Consensus, promises that pension austerity will yield economic prosperity. (shrink)

A few years ago, I wrote on the need for expansion of the environmental areas of bioethics, and covered some of the topics touched on here. Sadly, although it is possible to find some notable exceptions, bioethics does not provide much of an ethical base for considering human-nature relationships. Here I’m not going to deal with these philosophical issues or others about the nature of ethical decision-making. The rapid worsening of the human predicament means that applied ethical issues with a (...) significant environmental connection (what I call “ecoethics”), must be dealt with without waiting for the more interesting theoretical issues to be resolved. I define ecoethics very broadly to deal with dilemmas over a vast range of scales, and believe they now should penetrate virtually all areas of human activities. Ecoethics must struggle with issues of intra-generational (and interperson/group/nation) equity and the dilemmas of discounting by distance (valuing distant persons/events/costs/benefits less than those closer to the observer in physical or mental distance). Ecoethics also deals with the difficult dilemma of inter-generational equity—of discounting the future. That is especially troublesome when actions today can have significant environmental consequences 50 or more generations from now. Here I would like to highlight the ubiquity of those questions and the importance of seeking answers. (shrink)

Machine generated contents note: Preface; Introduction Angus Dawson; Part I. Concepts: 1. Resetting the parameters: public health as the foundation for public health ethics Angus Dawson; 2. Health, disease and the goal of public health Bengt Brülde; 3. Selective reproduction, eugenics and public health Stephen Wilkinson; 4. Risk and precaution Stephen John; Part II. Issues: 5. Smoking, health and ethics Richard Ashcroft; 6. Infectious disease control Marcel Verweij; 7. Population screening Ainsley Newson; 8. Vaccination ethics Angus Dawson; 9. Environment, ethics (...) and public health: the climate change dilemma Anthony Kessel and Carolyn Stephens; 10. Public health research ethics: is non-exploitation the new principle for population-based research ethics? John McMillan; 11. Equity and population health: toward a broader bioethics agenda Norman Daniels; 12. Health inequities James Wilson; Index. (shrink)

One of the criteria used by many transplant centers in assessing psychosocial eligibility for solid organ transplantation is social support. Yet, social support is a highly controversial requirement that has generated ongoing debate between ethicists and clinicians who favor its consideration (i.e., utility maximizers) and those who object to its use on equity grounds (i.e., equity maximizers). The assumption underlying both of these approaches is that social support is not a commodity that can be purchased in the marketplace. (...) This essay argues for the reconceptualization of social support as a product that can—and should—be purchased for transplant candidates to render them eligible for transplant. (shrink)