The pioneering work on environmental regulation in Sweden and that country's leading position in sustainability rankings has paradoxically passed almost unnoticed by academics. To this fact should be added, the scant attention given to the Nordic banking system. Becoming immersed into the realm of Swedish commercial banking ethics, we have focused on one of the top three commercial banks in the country, to map its corporate sustainability policies (CSP) and the compliance of the lending business process (LBP) to (...) these policies. A descriptive-explanatory research framework utilises a critical case with a phronetic design. Data collected through interviews was manipulated under the thematic analysis method. We found a unique understanding of act-utilitarianism, in which, policies and practices are set to prevent financial risks and environment rebounds, as they are symbiotic. This allowed us to enlarge the body of knowledge on Nordic banking's sustainable governance and design the green lending model (GLM). (shrink)

Based on detailed analysis of thousands of confidential World Bank documents, this book demonstrates that the World Bank lies at the centre of the major changes in global education of our time. It outlines the evolution of World Bank lending policies in education, and assesses the policy impact of the Bank's educational projects, looking at how it has: shaped the economic and social policies of many governments, including policies that affect education been an influential proponent of (...) the rapid expansion of formal education systems around the world, financing much of that expansion been instrumental in forging those policies that see education as a precursor to modernisation served as a major purveyor of Western ideas about how education and the economy are, or should be, related. Following on from the success of the first edition, this revised edition covers topical issues of globalisation and looks into the political debate concerning aid to developing countries. It will be of enormous value to those studying, or working in, educational policy in developing countries, international organisations and financial institutions, and aid agencies. (shrink)

This article grapples with the causes of India’s microfinance crisis. By contrasting Bangladesh’s highly successful Grameen model with the allegedly “universalizable” version of India’s SKS Microfinance, trust or social capital is isolated—not just narrowly interpreted within standard economic theory, but more broadly construed—as the essential element accounting for the early success of microfinance. It is argued that the microfinance experience has been widely misinterpreted, in both analytical and policy terms. This article suggests inherent limits in extending the model to for-profit (...) institutions and, in particular, to the pace of scaling up. (shrink)

Some individuals and businesses have become increasingly dependent upon multiple financing sources for economic survival. Certain currently used lending policies, such as interest-only loans and revolving credit lines, may encourage borrower dependency on the lender. The paper reviews religious teachings, specifically religious safeguards on lending identified in primary Jewish sources including the Tanach and rabbinic teachings, and finds that the safeguards in place centuries ago may still be relevant for lending practices today to both protect the (...) borrower while still providing a profitable means to help borrowers. (shrink)

We explore whether digital inclusion, a public policy designed to provide high-speed internet infrastructure for historically digitally excluded populations, is associated with the social and ethical challenge of financial inclusion. Using evidence from a sizable P2P lender in the U.S., we document that digital inclusion is positively associated with P2P lending penetration and that this relation is more pronounced in counties with limited commercial bank loan penetration and higher minority populations. Our new evidence from cross-sectional tests suggests that digital (...) inclusion plays a key role in financial inclusion, particularly in regions with more vulnerable and/or underserved populations. In consequence tests, we document that high-risk borrowing is less likely to be denied in counties with higher digital inclusion and that digital inclusion is positively associated with P2P lending efficiency in the form of more repeated borrowing, decreased funding time, and improved funding fulfillment. In addition, we show that the availability of alternative information, a plausible channel through which digital inclusion is related to financial inclusion, is positively associated with efficiency in P2P lending. Our findings indicate that digital inclusion can empower financial service providers and other stakeholders to collaboratively fulfill their ethical and social responsibilities to meet the financial needs of historically marginalized groups. (shrink)

For a variety of policy reasons, governments throughout the world are now adopting different legislative and administrative strategies that support the development of FLOSS. Some governments have actually begun to procure FLOSS, whereas others have channeled public funds to large-scale FLOSS projects. This study demonstrates both the benefits and the risks of government policy favoring FLOSS from the perspective of economics, technology, and politics, and to further analyze whether these same policy goals can be achieved through government support of FLOSS. (...) The most fundamental argument of the study is that, in lending its support to FLOSS, the difference between a government user and a business user is that the government should take into account society’s long-term interests, not merely its own interests as a consumer. (shrink)

Evidence-based policy has support in many areas of government and in public affairs more generally. In this paper we outline what evidence-based policy is, then we discuss its strengths and weaknesses. In particular, we argue that it faces a serious challenge to provide a plausible, over-arching account of evidence. We contrast evidence-based policy with evidence-based medicine, especially the role of evidence in assessing the effectiveness of medicines. The evidence required for policy decisions does not easily lend itself to randomized controlled (...) trials, nor, for that matter, being listed in a single all-purpose hierarchy. (shrink)

Evidence-based policy is gaining support in many areas of government and in public affairs more generally. In this paper we outline what evidence—based policy is then discuss its strengths and weaknesses. In particular, we argue that it faces a serious challenge to provide a plausible account of evidence. This account needs to be at least in the spirit of the hierarchy of evidence subscribed to by evidence-based medicine (from which evidence—based policy derives its name and inspiration). Yet evidence-based policy’s hierarchy (...) needs to be tailored to the kinds of evidence relevant and available to the policy arena. The evidence required for policy decisions does not easily lend itself to randomised controlled trials (the "gold standard" in evidence-based medicine), nor, for that matter, being listed in a single all—purpose hierarchy. (shrink)

Credit distribution is uneven in the domestic financial market since it is relatively easy for listed companies, mainly state-owned enterprises, to obtain banks’ funds. Unbalanced credit distribution has caused some listed companies to participate in “Borrow to Lend” activities. Based on the traditional “financing priority” theory and credit rationing theory, this paper studies the “Borrow to Lend” shadow banking activities of China’s non-financial listed companies based on the 2007–2018 financial statement data of Chinese-listed companies and discusses the micro-level and macro-level (...) related factors behind this activity. The empirical results show that China’s non-financial listed companies, especially the state-owned enterprises, are participating in obvious “Borrow to Lend” activities. The real economy’s rate of return shows a negative relationship with “Borrow to Lend” activities at the level of individual companies and their industries. This article uses the exogenous growth part of M2 growth to measure monetary policy tightness in terms of macro and credit policies. It uses the ratio of state-owned enterprise loans to total corporate loans as an approximate indicator of the credit distribution structure. The empirical results indicate that state-owned enterprises’ “Borrow to Lend” activities have shifted in the same direction as the tightening of monetary policy after the financial crisis. The proportion of state-owned enterprise loans positively correlates with state-owned enterprises’ “Borrow to Lend” activities. (shrink)

Codes of conduct are a conspicuous feature of modern business organization, but doubts have been raised regarding their efficacy in ensuring high standards of behavior. Although some of the issues involved have been discussed at some length in the business ethics literature, the amount of systematic empirical evidence on the impact of codes is very limited. This paper seeks to make a contribution to that body of knowledge by studying the policies and procedures of a sample of banks which (...) have signed a statement on banking and the environment promulgated by the United Nations Development Programme. Although some differences are found when compared with a sample of banks which did not sign the Statement, they are not extensive. The implications of the findings, for codes of conduct and for future empirical studies, are then discussed. (shrink)

ABSTRACT The underlying cause of the financial meltdown was much more mundane than a “crisis of capitalism”: The real origins lay in mostly obscure housing, tax, and regulatory policies of the U.S. government. The Community Reinvestment Act, the affordable‐housing “mission” of Fannie Mae and Freddie Mac, penalty‐free refinancing of home loans, penalty‐free defaults on home loans, tax preferences for home‐equity borrowing, and reduced capital requirements for banks that held mortgages and mortgage‐backed securities combined with each other to create the (...) incentives for both subprime lending and the housing bubble that eventually led to the financial collapse. (shrink)

Gender staff in the World Bank -- the world's largest and most influential development institution -- have a policy problem. Having prioritised efforts to get women into paid employment as the ȁ8cure-allȁ9 for gender inequality they must deal with the work that women already do -- the unpaid labour of caring, socialisation, and human needs fulfilment. This article explores the most prominent policy solution enacted by the Bank to this tension between paid and unpaid work: the restructuring of normative heterosexuality (...) to encourage a two-partner model of love and labour wherein women work more and men care better. Through a case study of Bank gender lending in Ecuador I argue that staff are trying to (re)forge normative arrangements of intimacy, a policy preference that remains invisible unless sexuality is taken seriously as a category of analysis in development studies. Specifically, I focus on four themes that emerge from the attempt to restructure heteronormativity in the loan: (1) the definition of good gender analysis as requiring complementary sharing and dichotomous sex; (2) the Bank's attempt to inculcate limited rationality in women such that they operate as better workers while retaining altruistic attachments to loved ones; (3) the Bank's attempt to inculcate better loving in men, such that they pick up the slack of caring labour when their (partially) rational wives move into productive work, and; (4) the invocation of a racialised hierarchy resting on the extent to which communities approximate ideals of sharing monogamous partnership. Aside from providing clear evidence that the world's largest development institution is involved in micro-processes of sexuality adjustment alongside macro-processes of economic restructuring, I also critique the Bank's sexualised policy interventions and suggest that they warrant contestation. (shrink)

When the journal Minerva was founded in 1962, science and higher educational issues were high on the agenda, lending impetus to the interdisciplinary field of “Science Studies” qua “Science Policy Studies.” As government expenditures for promoting various branches of science increased dramatically on both sides of the East-West Cold War divide, some common issues regarding research management also emerged and with it an interest in closer academic interaction in the areas of history and policy of science. Through a close (...) reading of many early issues of Minerva but also of its later competitor journal Science Studies (now called Social Studies of Science) the paper traces the initial optimism of an academically based Science Studies dialogue across the Cold War divide and the creation in 1971 of the International Commission for Science Policy Studies as a bridging forum, one that Minerva strangely chose to ignore. In this light, attention is drawn to aspects of the often forgotten history of Science Studies in the former Soviet Union and the Eastern European block. Reviewed also are several early discussions that are still relevant today: e.g., regarding differing concepts of Big Science, science and democracy, autonomy in higher education and what conditions are necessary to sustain academic freedom and scientific integrity (some of Edward Shils’ primary concerns). Finally, it is noted how the question of quantitative methods to measure scientific productivity lay at the heart of a “Science of Science” movement of the 1960s has re-emerged in a new form integral to the notion of a “Science of Science Policy.”. (shrink)

The Nurse-Family Partnership, a thirty-year program of research in the United States focused on early childhood preventive intervention, offers a powerful example of the kinds of programs and public policies that Confucian understandings of parent–child relationships and moral cultivation might recommend in contemporary societies today. NFP findings, as well as its theoretical foundations, lend empirical support to early Confucian views of the role of parent–child relationships in human moral development, the nature and possibility of moral self-cultivation, and the task (...) of creating and sustaining a good society, which gives philosophers who are interested in ethical claims that reflect and inform actual practice good reasons to take Confucian ethics seriously. Additionally, the evidence provided by the NFP and early Confucian accounts can both be used to promote social change, which highlights how the sciences and the humanities can work together in complementary ways to address societal problems. (shrink)

Within the banking community, the argument about sustainability and profitability tends to be inversely related. Our research suggests this does not need to be strictly the case. We present a credit score system based on sustainability issues, which is used as criteria to improve financial institutions’ lending policies. The Sustainability Credit Score System is based on the analytic hierarchy process methodology. Its first implementation is on the agricultural industry in Brazil. Three different firm development paths are identified: business (...) as usual, sustainable business, and future sustainable business. The following six dimensions are present in the SCSS: economic growth, environmental protection, social progress, socio-economic development, eco-efficiency, and socio-environmental development. The results suggest that sustainability is not inversely related to profit either from a short- or long-term perspective. The SCSS is related to the Equator Principles, but its application is not driven to project financing. It also deals with short- and long-term risks and opportunities, instead of short-term sustainability impacts. (shrink)

“Offsetting” habitat destruction has widespread appeal as an instrument for balancing economic growth with biodiversity conservation. Requiring proponents to pay the nontrivial costs of habitat loss encourages sensitive planning approaches. Offsetting, biobanking, and biodiverse carbon sequestration schemes will play an important role in conserving biodiversity under increasing human pressures. However, untenable assumptions in existing schemes are undermining their benefits. Policies that allow habitat destruction to be offset by the protection of existing habitat are guaranteed to result in further loss (...) of biodiversity. Similarly, schemes that allow trading the immediate loss of existing habitat for restoration projects that promise future habitat will, at best, result in time lags in the availability of habitat that increases extinction risks, or at worst, fail to achieve the offset at all. We detail concerns about existing approaches and describe how offsetting and trading policies can be improved to provide genuine benefits for biodiversity. Due to uncertainties about the way in which restored vegetation matures, we propose that the biodiversity bank should be a savings bank. Accrued biodiversity values should be demonstrated before they can be used to offset biodiversity losses. We provide recommendations about how this could be achieved in practice. (shrink)

Codes of conduct are a conspicuous feature of modern business organization, but doubts have been raised regarding their efficacy in ensuring high standards of behavior. Although some of the issues involved have been discussed at some length in the business ethics literature, the amount of systematic empirical evidence on the impact of codes is very limited. This paper seeks to make a contribution to that body of knowledge by studying the policies and procedures of a sample of banks which (...) have signed a statement on banking and the environment promulgated by the United Nations Development Programme. Although some differences are found when compared with a sample of banks which did not sign the Statement, they are not extensive. The implications of the findings, for codes of conduct and for future empirical studies, are then discussed. (shrink)

This 1991 book is a selection of Jacques Drèze's work over the last decade on the topics of lasting unemployment, stagflation and unused capacity. At the theoretical level, the author has contributed to the formulation and analysis of general equilibrium models which allow for price rigidities and excess supply and lend themselves to econometric implementation, thus represents an attempt to integrate micro- and macroeconomics, and to use theory for empirical and policy purposes.

Is the lower rate of kidney transplantation into African Americans medically and ethically justifiable? Or is it a form of racial discrimi nation comparable to if not worse than denial of employment opportunities, housing, and educational opportunities? This essay focusses on the medical problems associated with matching antigens in donors and recipients, and the implications of those problems for social justice.1 Racially discriminatory practices in bank lending, education, and hiring provide a context for understanding how medical criteria treat black (...) recipients unfairly. Although antigen matching is only one aspect of the general problem of finding medically suitable black recipients, it presents an especially interesting challenge for theories of justice, as well as for medical research. (shrink)

The research purpose is to find out if signs of a real estate bubble are shown at the austrian real estate market right now. Lending rates are composed of different factors: the base rate is the price that the customer is willing to pay. The risk premium is given to compensate the lenders risk of full or partial failure of repayment. The inflation adjustment takes into account the impairment of money over the term of a loan. The liquidity premium (...) increases with extension of the term of the loan. The European Central Bank influences the interest rate policy by varying the interest for money saved there by the banks. At the moment there are used negative interest rates, i.e. penalty interest. The methodology used was that recently the ECB lowered the interest rates which might cause real estate bubbles and, subsequently, banks and economic crises may follow, if interest rates were to be increased again sooner or later. Therefor the author studied the amount of sales and the connection to the interest rates and the interest rate policy of the banks right now. Summarizing it can be seen that in Kittsee, an Austrian area with a lot of real estate sales, as an example, 565 real estate properties were sold in the years 2005 to 2015, the median prices increased in relation to the buyers residence in Austria or non- Austrians at about 375% to 490%, this might indicate signs of change on the market. (shrink)

Between 1909 and 1941, the Russell Sage Foundation (RSF) was actively involved in crafting and lobbying for policy solutions to the pervasive problem of predatory lending. Using a rich assortment of archival records, I build upon political learning theory by demonstrating how institutional conditions and political pressures – in addition to new knowledge gained through scientific study and practical experience – all contributed to the emergence and development of RSF experts’ policy ideas over the course of this 30-year period. (...) In light of these findings, I suggest that policy ideas and political interests are mutually constitutive, and that the notion that ideas must be shown to operate independent of interests in order to “prove” that they matter in policymaking is misguided. Furthermore, I discuss the implications of the remarkable success of RSF’s policy proposals for current understandings of institutional change. In particular, I argue that the passage of RSF’s controversial Uniform Small Loan Law in 34 states suggests that political actors’ collective agency can produce significant policy reforms in a context of normal policymaking without the intervention of major destabilizing events. (shrink)

This Article explores the relationship between consumer credit markets and bankruptcy policy. In general, I argue that the causative relationships running between borrowing and bankruptcy compel a new strategy for policing the conduct of lenders and borrowers in modern consumer credit markets. The strategy must be sensitive to the role of the credit card in lending markets and must recognize that both issuers and cardholders are well placed to respond to the increased levels of spending and indebtedness. In the (...) latter parts of the Article, I recommend mandatory minimum payment requirements, a tax on distressed credit card debt, and the subordination of payments to credit card lenders in bankruptcy. I also argue that many aspects of the American bankruptcy system, as recently reformed, are overly protective of credit card issuers. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:Becoming Nonviolent Peacemakers: A Virtue Ethic for Catholic Social Teaching and US Policy by Eli Sasaran McCarthyMarc V. RuganiBecoming Nonviolent Peacemakers: A Virtue Ethic for Catholic Social Teaching and US Policy Eli Sasaran McCarthy EUGENE, OR: PICKWICK PUBLICATIONS, 2011. XVII 1 259 PP. $32.00Contemporary US political discourse is generally couched in the language of rule-based rights analysis or utilitarian calculus, both of which limit the imagination of decision-makers (...) and society at large. In Becoming Nonviolent Peacemakers, Eli Sasaran McCarthy seeks to disrupt any complacency Americans and our representative leadership might have with these ethical approaches. Drawing on well-reasoned philosophical arguments and the witness of paradigmatic figures, McCarthy builds a case for public policies of nonviolent peacemaking created from and analyzed through the framework of virtue ethics. Such policies, he posits, would not only achieve a more comprehensive agenda of peacemaking but would also approach more closely the vision of Dr. Martin Luther King Jr.'s "Beloved Community."McCarthy's project is ambitious and multifaceted. He sets out to synthesize critiques of prevailing rule- and strategy-based assessments of nonviolent [End Page 204] peacemaking, making proposals for a virtue-based assessment from Christian, Hindu, and Muslim sources as well as with the best contributions of human rights theory in order to supplement a virtue approach. At the outset he states, "My thesis is that a virtue-based assessment of nonviolent peacemaking enhanced by aspects of human rights discourse largely resolves key limits of rule-based and strategy-based assessments of nonviolent peacemaking for public discourse and policy" (2). To prove this, he grapples with influential scholars on the subject, such as James Childress and Gene Sharp, to show how deontology and consequentialism too narrowly constrain the vision of what nonviolent peacemaking can achieve, both in effect and the formation of agents' character. Addressing the work of Bernard Häring, Stanley Hauerwas, and Lisa Sowle Cahill, he brings the fruit of Christian theological ethics to bear on the advantages of a virtue-based assessment of nonviolence. Though that is significant enough, McCarthy also presents the life and work of both Mahatma Gandhi and Abdul Ghaffar Khan to demonstrate the consonance of a virtue approach even across cultural and religious lines. He finally plots a way forward using the best of rights theory and virtue theory to show how nonviolent peacemaking fulfills the Catholic social tradition's vision of human dignity and the common good.McCarthy lends much to the argument that "we ought to consider nonviolent peacemaking a distinct virtue rather than merely subsuming it in the paradigmatic actions of other virtues" (75). With scripture at its foundation and positioned within the traditions of virtue ethics and the Catholic social doctrine, he weaves a tight argument for nonviolence within a Christian context while also aiming to be approachable and sympathetic to non-Christian perspectives. Because of the contemporary context of McCarthy's project, he does focus his attention almost exclusively on twentieth- and twenty-first-century sources; it would be helpful to be already familiar with virtue ethics and its classic sources, like Aristotle, Cicero, and Aquinas.McCarthy writes clearly and directly to readers, making the schema of his argument explicit in each chapter. His extensive referencing and ample bibliography engage both academic research and popular journalism, making this a great resource for those pursuing public theology and students in advanced undergraduate and professional study. His last chapter, which provides a case study regarding the Sudanese genocide in Darfur, applies his peacemaking proposals in a compelling thought experiment. One can hope McCarthy's continued research yields not only more case studies that invite creative problem-solving through the virtue of nonviolent peacemaking but also a book-length study that challenges US domestic policy as successfully as his investigation of US foreign policy here. [End Page 205]Marc V. RuganiThe Catholic University of AmericaCopyright © 2017 Society of Christian Ethics... (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:Consistently Pro-Life: The Ethics of Bloodshed in Ancient Christianity by Rob Arner, and: Christ at the Checkpoint: Theology in the Service of Justice and Peace ed. by Paul Alexander, and: Becoming Nonviolent Peacemakers: A Virtue Ethic for Catholic Social Teaching and US Policy by Eli Sarasan McCarthyBrian D. BerryReview of Consistently Pro-Life: The Ethics of Bloodshed in Ancient Christianity ROB ARNER Eugene, OR: Pickwick, 2010. 136 pp. $15.56Review (...) of Christ at the Checkpoint: Theology in the Service of Justice and Peace EDITED BY PAUL ALEXANDER Eugene, OR: Pickwick, 2012. 182 pp. $19.80Review of Becoming Nonviolent Peacemakers: A Virtue Ethic for Catholic Social Teaching and US Policy ELI SARASAN MCCARTHY Eugene, OR: Pickwick, 2012. 259 pp. $27.00In Consistently Pro-Life, Rob Arner (who teaches at Chestnut Hill College in Philadelphia) makes the case that Christians should not kill other human beings—regardless of the circumstances. Taking as his point of departure the vigilante killing of abortion doctor George Tiller in Wichita, Kansas, in 2009, he argues not only that abortion is always morally impermissible but so also is [End Page 217] the murder of abortion doctors and the use of the death penalty to punish those who murder them. In addition, he turns to the early church fathers to contend that, prior to Constantine, “without exception, the church strongly condemned the taking of human life in any form whatsoever”—thus rejecting abortion and infanticide, the blood sport of the Roman games, suicide, and killing in war (120). This was because the New Testament witness to Jesus and his death on the cross required early Christians to view “the means as just as important, if not more important, than the ends” (xiii).Arner supplements this deontological argument for Christian pacifism, which he learned from John Howard Yoder, with a brief consideration of the virtue of patience cultivated in the early churches, reflecting the influence of Stanley Hauerwas on his thought. This “cardinal virtue” connoting “longsuffering, forbearance, patient endurance”—as found in Jesus’s teaching in the Sermon on the Mount (Mt 5:38–48)—enabled early Christians to practice non-violent resistance “deferring personal revenge in favor of God’s vindicating justice” (98). If Christians were to adopt this same consistently pro-life ethic today, argues Arner, it would “lead to greater healing and peace in our blood-soaked world” (121). The book closes with three appendices—one of which is a chart of terminology that dehumanizes vulnerable victims, including unborn human beings. Unfortunately, the book does not have an index.Christ at the Checkpoint, edited by Paul Alexander (professor of Christian ethics and public policy at the Palmer Theological Seminary of Eastern University), includes thirteen plenary addresses delivered at a conference on the Arab-Israeli conflict organized by Palestinian Evangelical Christians at Bethlehem Bible College in March 2010. Almost all of the contributors to this volume—including biblical scholars, theologians, ethicists, pastors, activists, and others—criticize the ideology of Christian Zionism and its support of a theology of dispensationalism that, in their view, distorts the scriptures and fosters violence rather than reconciliation between the Israelis and the Palestinians. In his own presentation titled “What Can Pentecostals and Charismatics Do for Peace with Justice in Israel and Palestine?,” Alexander—who describes himself as a former “one-sided” Christian Zionist who later discovered the writings of Yoder and Hauerwas—appeals to Jesus’s teaching in the Sermon on the Mount and urges Pentecostals to create church communities “that cultivate persons of character and conviction, who through habits, practices, and action live out the core of our faith” (69). Along with being faithful to the “greater challenges” of love, mercy, compassion, and forgiveness, he argues that they should publicly declare that Jesus does not want Israel to continue the occupation of Palestine, and they should engage in the “easier tasks” of promoting human rights, lending support to United Nations Resolutions, and working toward a two-state solution (72). “The time has come in human history,” writes Alexander, “for Pentecostals to speak and act prophetically regarding this present injustice … [End Page 218] and to use every nonviolent weapon in our arsenal—stories, preaching... (shrink)

Banking, in common with other areas of finance, is often considered an amoral field focused purely on risk and return. However, ethics does have an important role to play, both traditionally and as business and banking evolve. Based on a speech to a European Union conference on financing small and medium–sized enterprises (SMEs), this paper seeks to provide an overview of ethics in banking using three terms. Integrity is important to generate the trust necessary for any banking system to flourish, (...) responsibility highlights contemporary banks’ need to take into account the consequences of their lending policies, and affinity refers to a set of relatively novel ways in which depositors and borrowers can be brought closer together than they are in conventional western banking. (shrink)

Banking, in common with other areas of finance, is often considered an amoral field focused purely on risk and return. However, ethics does have an important role to play, both traditionally and as business and banking evolve. Based on a speech to a European Union conference on financing small and medium–sized enterprises , this paper seeks to provide an overview of ethics in banking using three terms. Integrity is important to generate the trust necessary for any banking system to flourish, (...) responsibility highlights contemporary banks’ need to take into account the consequences of their lending policies, and affinity refers to a set of relatively novel ways in which depositors and borrowers can be brought closer together than they are in conventional western banking. (shrink)

This article is about evil and its function in educational discourse. The research posits, using work in postsecularism and particularly through an historical, legal, and theological read of prophetic indictment and the function of the jeremiad in educational policy, that the terms of educational debate are rendered in a legal rather than a deliberative discursive framework. This lends itself, then, to the creation of evil others opposed to one’s own preferred policy prescriptions and renders much of the discussion about and (...) around the need for conversation and comity moot. The authors propose attending to the function of evil in education as well as positing an historical approach to thinking about why we often can’t think differently about educational arguments. (shrink)

Ethical frameworks are often used in professional fields as a means of providing explicit ethical guidance for individuals and institutions when confronted with ethically important decisions. The notion of an ethical framework has received little critical attention, however, and the concept subsequently lends itself easily to misuse and ambiguous application. This is the case with the ‘ethical framework’ offered by Canada’s Nuclear Waste Management Organization (NWMO), the crown-corporation which owns and is responsible for the long-term management of Canada’s high-level nuclear (...) fuel waste. It makes a very specific claim, namely that it is managing Canada’s long-lived radioactive nuclear fuel waste in an ethically responsible manner. According to this organization, what it means to behave in an ethically responsible manner is to act and develop policy in accordance with its ethical framework. What, then, is its ethical framework, and can it be satisfied? In this paper I will show that the NWMO’s ethical and social framework is deeply flawed in two respects: (a) it fails to meet the minimum requirements of a code of ethic or ethical framework by offering only questions, and no principles or rules of conduct; and (b) if posed as principles or rules of conduct, some of its questions are unsatisfiable. In particular, I will show that one of its claims, namely that it seek informed consent from individuals exposed to risk of harm from nuclear waste, cannot be satisfied as formulated. The result is that the NWMO’s ethical framework is not, at present, ethically acceptable. (shrink)

Theories of justice rely on a variety of criteria to determine what social arrangements should be considered just. For most theories, the distribution of financial resources matters. However, they take the existence of money as a given and tend to ignore the way in which the creation of money impacts distributive justice. Those with access to collateral are favoured in the creation of credit or debt, which represents the main form of money today. Appealing to the idea that access to (...) credit confers freedom, and that inequalities in this freedom are morally arbitrary, this article shows how the advantage to those with collateral plays out in different ways in today’s economy. The article identifies several forms of bias inherent in money creation, and its subsequent destruction: loans from commercial banks to individuals and corporations, interbank lending, lending from central banks to commercial banks, and selective bail-outs by central banks. These are not mere inequalities: they are unjust since alternative designs of the financial architecture exist that would significantly reduce them. The paper focuses on one possible reform with the potential to address several of the types of bias identified, namely the separation of money creation from private bank credit. (shrink)

This chapter contains sections titled: Introduction Medical Migration and Moral Responsibility Lending Money to Developing Countries Culture and Religion Health Research and Resources Conclusions References.

Despite its proliferation in technology studies, the concept of “path dependence” has scarcely been applied to epistemology. In this essay, I investigate path dependence in the production of scientific knowledge, first, by considering Kuhn's scattered remarks that lend support to a path-dependence thesis (Section I) and second by developing and criticising Kuhn's embryonic account (Sections II and III). I examine a case from high-energy physics that brings the path-dependent nature of scientific knowledge to the fore and I pay attention to (...) two sources of path dependence—“theoretical” and “instrumental”. The latter source is particularly important in “big science”. I ask in Section IV whether path dependence in scientific knowledge can lead to circumstances like those in the technological field, in which a theory can come to dominate a scientific speciality even though it is inferior to alternatives. In Section V, I ask what implications my thesis has for science policy. (shrink)

Social determinants of health are a subject of growing interest, yet criticisms have emerged about the way determinants are conceptualized in nursing. A tendency to focus on readily observable living conditions and measurable demographic characteristics can divert attention, it has been said, from the less visible underlying processes which shape social life and health. To illustrate how the analytic perspective determines what becomes visible or invisible as a “determinant” in health, this paper presents a case exemplar. Drawing from news reports (...) and research in real estate economics and urban policy analysis, it explores a single local infectious illness outbreak through a series of progressively more abstract units of inquiry, considering mechanisms of lending and debt financing, housing supply, property valuation, tax policy, change in the structure of the financial industry, and international patterns of migration and capital flow, among other factors, which contributed in various ways to creating unsafe living conditions. An analytic exercise calling attention to dynamism and complexity in social processes, the paper offers a political‐economy‐based approach that serves as a cautionary note against oversimplification in discussions of health causality. (shrink)

In this topical book, Boudewijn de Bruin examines the ethical 'blind spots' that lay at the heart of the global financial crisis. He argues that the most important moral problem in finance is not the 'greed is good' culture, but rather the epistemic shortcomings of bankers, clients, rating agencies and regulators. Drawing on insights from economics, psychology and philosophy, de Bruin develops a novel theory of epistemic virtue and applies it to racist and sexist lending practices, subprime mortgages, CEO (...) hubris, the Madoff scandal, professionalism in accountancy and regulatory outsourcing of epistemic responsibility. With its multidisciplinary reach, Ethics and the Global Financial Crisis will appeal to scholars working in philosophy, business ethics, economics, psychology and the sociology of finance. The many concrete examples and case studies mean that this book will also prove useful to policy-makers and regulators. (shrink)

I defend impact-based accounts of institutional racism against the criticism that they are over-inclusive. If having a negative impact on non-whites suffices to make an institution racist, too many institutions (including institutions whose affirmative action policies inadvertently harm its intended beneficiaries) would count as racist. To address this challenge, I consider a further necessary condition for these institutions to count as racist—they must stand in a particular relation to racist ideology. I argue that, on the impact-based model, institutions are (...) racist if they have a negative racial impact AND this impact is legitimized by racist ideology. Racist ideologies limit social criticism of and collective action against institutions that have a negative racial impact, and in so doing, lend stability to systems of racial domination. (shrink)

As a nation, we seem to be of two minds about secrecy. We know that government secrecy is incompatible with democratic decision-making in obvious ways. Yet there is a near-universal consensus that some measure of secrecy is justified and necessary to protect authorized national security activities. Reconciling these conflicting interests is an ongoing challenge. In recent years, a large and growing number of public interest organizations and professional societies have turned their attention to government secrecy, identifying it as an obstacle (...) to achieving their own objectives. These professionally and politically diverse groups are united by the perception that secrecy has escalated to the point of dysfunction. On that point, there is not much disagreement. One basic premise of the critics of government secrecy is that too much information gets classified and withheld from the public in the name of national security, and that this has undesirable effects on public policy and on public discourse. But a second basic premise is that it is possible to do something about that. These organizations, including my own, do not simply want to protest against improper secrecy but to correct it. And to a remarkable extent, the secrecy system lends itself to such corrective efforts through various mechanisms that will be described below. (shrink)

In earlier work, I predicted that we would probably not be able to determine the colors of the dinosaurs. I lost this epistemic bet against science in dramatic fashion when scientists discovered that it is possible to draw inferences about dinosaur coloration based on the microstructure of fossil feathers (Vinther et al., 2008). This paper is an exercise in philosophical error analysis. I examine this episode with two questions in mind. First, does this case lend any support to epistemic optimism (...) about historical science? Second, under what conditions is it rational to make predictions about what questions scientists will or will not be able answer? In reply to the first question, I argue that the recent work on the colors of the dinosaurs matters less to the debate about the epistemology of historical science than it might seem. In reply to the second question, I argue that it is difficult to specify a policy that would rule out the failed bet without also being too conservative. (shrink)

This paper presents a poststructuralist, postcolonial and feminist interrogation of the ‘Girl Effect’. First coined by Nike inc, the ‘Girl Effect’ has become a key development discourse taken up by a wide range of governmental organisations, charities and nongovernmental organisations (NGOs). At its heart is the idea that ‘girl power’ is the best way to lift the developing world out of poverty. As well as a policy discourse, the Girl Effect entails an address to Western girls. Through a range of (...) online and offline publicity campaigns, Western girls are invited to take up the cause of girls in the developing world and to lend their support through their use of social media, through fundraising and consumption. Drawing on a wide range of policy documents, media outputs and offline events, this paper explores the way in which the Girl Effect discourse articulates notions of girlhood, empowerment, development and the Global North/south divide. (shrink)

This study investigates the determinants of the ratification of International Covenant on Economic, Social, and Cultural Rights (ICESCR). To do so, it proposes an explanation that postulates that states employ treaty ratification as a device to signal their resolve to implement polices required by the treaty at issue in order to appease demanding domestic constituencies, predicting that states with lower compliance capacity tend to commit faster than states with higher compliance capacity. Applying this explanation to the ICESCR leads to two (...) expectations. First, the larger government spending a proxy of high compliance capacity is hypothesized to delay the ratification process. Second, states with the unitary system are expected to ratify the ICESCR more promptly because the centralized power structure in unitary states significantly restricts the pursuit of the policy autonomy by minorities at local level that the right to self-determination entails. The Cox proportional hazard analysis lends support to both hypotheses. (shrink)

Prominent tuberculosis (TB) actors are invoking solidarity to motivate and justify collective action to address TB, including through intensified development and implementation (D&I) of technologies such as drugs and diagnostics. We characterize the ethical challenges associated with D&I of new TB technologies by drawing on stakeholder perspectives from 23 key informant interviews and we articulate the ethical implications of solidarity for TB technology D&I. The fundamental ethical issue facing TB technological D&I is a failure within and beyond the TB community (...) to stand in solidarity with persons with TB in addressing the complex sociopolitical contexts of technological D&I. The failure in solidarity relates to two further ethical challenges raised by respondents: skewed power dynamics that hinder D&I and uncertainties around weighing risks and benefits associated with new technologies. Respondents identified advocacy and participatory research practices as necessary to address such challenges and to motivate sustained collective action to accelerate toward TB elimination. We present the first empirical examination of bioethical accounts of solidarity in public and global health. Our study suggests that solidarity allows us better to understand and address the ethical challenges that arrest the D&I of new TB technologies. Solidarity lends credence to policies and practices that address the relational nature of illness and health through collective action. (shrink)

The American Academy of Pediatrics Task Force on Circumcision published its policy statement and technical report on newborn circumcision in September 2012.1 ,2 Since that time, some individuals and groups have voiced objections to the work of the Task Force, while others have conveyed their support. The AAP task force is pleased that the policy statement and technical reports on circumcision have stimulated debate on this topic and welcomes respectful discussion and dialogue about the scientific and ethical issues that surround (...) neonatal circumcision. We believe this is a complex issue that does not lend itself to simplistic solutions. The Task Force encourages those of all viewpoints to contribute to a vibrant, thoughtful and respectful evidence-based dialogue. We appreciate that the free exchange of competing ideas is a necessary component of scientific discovery. We also recognise that all clinical decisions carry ethical dimensions and that a respectful and thoughtful dialogue about these issues is important. However, the Task Force also feels strongly that this debate and the academic literature are demeaned when those with an ideological agenda disseminate inaccurate information, misapply scientific principles, make accusations that are unsupported, communicate in a vitriolic tone, and attempt to discredit and mischaracterise alternative views and those who hold them. Healthy debate and …. (shrink)

When can we say that a debt crisis has been resolved fairly? An often overlooked but very important effect of financial crises and the debts that often engender them is that they can lead the crisis countries to increased dependence on international institutions and the policy conditionality they require in return for their continued support, limiting their capabilities and those of their citizens to exercise meaningful control over their policies and institutions. These outcomes have been viewed by many not (...) merely as extremely unfortunate and regrettable, but also as deeply unfair. And indeed, increasingly potent popular movements have pressured governments, financial institutions, and the financial community to seek what they take to be fairer solutions to debt crises. The merits of these programs and proposals for dealing more fairly with sovereign debt remain hotly disputed. In this essay, we try to take a step back from the political fray and examine some more fundamental considerations that seem relevant to assessing the fairness of current arrangements governing economic exchanges related to debt contracts and alternatives that have been proposed to them.Our discussion is organized into seven sections. First, we characterize briefly the concept of fairness and its role in social evaluation. Second, we clarify what sovereign debt is, and, third, the ethical statuses that particular sovereign debts can have. Fourth, we identify and describe the main features of current practices related to sovereign debt. Fifth, we describe an "ideal picture" of creditor/debtor relations. We argue that in such a scenario a broad range of ethical considerations can plausibly be invoked in support of practices that closely resemble those presently governing sovereign debt. Sixth, we draw attention to the many ways in which in reality the relations between sovereign debtors and their creditors differ markedly from the relationships between the creditor and debtor in the ideal picture. Because of this, many of the ethical considerations that would support present practices were relations between sovereign debtors and their creditors to resemble more closely those depicted in the ideal picture fail to do so under present circumstances. We conclude, moreover, that the remaining ethical considerations that might be advanced in support of the present system are at best quite inconclusive. Finally, we describe briefly specific reform proposals to current practices. While we will not attempt to show that these proposals would necessarily make the rules governing economic exchanges relevant to sovereign debt more fair, we conclude, in light of our earlier analysis, that they must be given much more serious consideration than they have so far received in policy circles. Indeed, there are strong prima facie reasons to believe that some combination of these proposed policies might prevent or mitigate some of the most ethically regrettable outcomes of present practices and norms by changing the incentives of sovereign borrowers and those who lend to them. (shrink)

There is a basic methodological difference in the way anarchists and non-anarchists think about politics, often more implicit than explicit. Anarchists see politics and justice as being concerns of social institutions, norms, and relations generally – both inside and outside the state. Much of academic political philosophy talks of politics and justice as if they are definitionally concerns about what states should do, or our relationships with each other through the state. In this chapter, we argue that the anarchists are (...) on the right side of this difference. We call the insight that undergirds the anarchists’ understanding of politics and justice “methodological anarchism.” We seek to exorcise the policy framework in favor of methodological anarchism. Indeed, we believe it should be embraced by all political philosophers, not only the anarchists among their ranks. Political philosophers ought to abstain from the policy framework for two reasons. Firstly, it is analytically impoverished inasmuch as, when followed to its logical conclusion, it is unable to engage with enormous areas of analysis that are relevant to what makes a society just or unjust. Secondly, it instills subtle prejudice against other important approaches to mitigating injustice that are unconcerned with public policy. This also carries the danger of lending ideological support for existing injustices and thereby entrenching them. Accepting our critique of the policy framework and adopting methodological anarchism does not necessarily require the acceptance of any kind of substantive political anarchism. But it does mean thinking a bit more like an anarchist about how to make society more just – thus our characterization of it as “methodological.”. (shrink)

The controversies over genetically modified crops in India involve what Gieryn refers to as ‘boundary work’ in the ongoing competition for credibility and trustworthiness among claimsmakers with opposing points of view. Discourse about GM crops involves extensive drawing of boundaries by actors including policymakers, technocrats, NGOs, scientists, industrialists, and farmers. The issues raised range from governmental processes to moral and ethical implications, from environmental consequences to integration into the global economy. Those involved in these discussions frequently invoke the idealized notions (...) of farmers and farming in order to situate themselves within the boundary of a particular social category which may lend credibility to their claims. While Gieryn has focused primarily on scientists’ attempts to construct a boundary between science and non-science in order to establish themselves as experts, strengthen the credibility of their claims and avoid political interference in their intellectual activities, this article focuses on a different way in which knowledgeable and influential actors lay claim to trustworthiness by drawing a different kind of social boundary around themselves. This article will especially focus on the ways in which the category of farmers is used in the GM crop controversies by actors who are in a position to influence public policies regarding GM crops, especially in their efforts to justify their policy prescriptions. The thesis here is that GM crop controversies in India reflect elite actors’ attempts to compete for a shared social identity with farmers, thus constructing a context for the particular public policy prescriptions they support. The thesis is supported by a lexical item frequency analysis of discussion related to genetically modified cotton in India which demonstrates that boundary work using social identity of farmers plays a significant role in shaping the discourse surrounding the adoption and governance of GM crops. (shrink)

At least since Athenian trade sanctions helped to spark the Peloponnesian War, economic coercion has been a prominent tool of foreign policy. In the modern era, sovereign states and multilateral institutions have imposed economic sanctions on dictatorial regimes or would-be nuclear powers as an alternative to waging war. They have conditioned offers of aid, loans, and debt relief on recipients’ willingness to implement market and governance reforms. Such methods interfere in freedom of trade and the internal affairs of sovereign states, (...) yet are widely used as a means to advance human rights. But are they morally justifiable? -/- Drawing on human rights theories, theories of justifiable harm, and examples such as IMF lending practices and international sanctions on Russia and North Korea, Fabre offers a defense of economic statecraft in some of its guises. An empirically attuned work of philosophy, Economic Statecraft lays out a normative framework for an important tool of diplomacy. (shrink)

This is a brief response to ‘Do not despair about severity—yet’ by Barra et al. It argues that they have no serious criticisms of Daniel Hausman’s essay, ‘The Significance of Severity’” and that indeed their work lends further support to his view that there is no justification for prioritising severity. As policy-akers, Barra and his coauthors are more constrained by popular attitudes, which apparently favour prioritising severity.

This book focuses on a key issue today: the role of values in technology, with special emphasis on ethical values. This topic involves the analysis of internal values in technology (as they affect objectives, processes, and outcomes) and the study of external values in technology (social, cultural, economic, ecological, et cetera). These values - internal and external - are crucial to the decision making of engineers. In addition, they have increasing relevance for citizens concerned with the present and future state (...) of technology, which gives society a leading position in technological issues. The book follows three main lines of research: 1) new perspectives on technology, values, and ethics; 2) rationality and responsibility in technology; and 3) technology and risks. This volume analyzes the two main sides involved here: the theoretical basis for the role of values in technology and a practical discussion on how to implement them in our society. Thus, the book is of interest for philosophers, engineers, academics of different fields, and policy-makers. The style used lends itself to broad audience. (shrink)

This book develops a philosophico-methodological analysis of prediction and its role in economics. Prediction plays a key role in economics in various ways. It can be seen as a basic science, as an applied science, and in the application of this science. First, it is used by economic theory in order to test the available knowledge. In this regard, prediction has been presented as the scientific test for economics as a science. Second, prediction provides a content regarding the possible future (...) that can be used for prescription in applied economics. Thus, it can be used as a guide for economic policy, id est, as knowledge concerning the future to be employed for the resolution of specific problems. Third, prediction also has a role in the application of this science in the public arena. This is through the decision-making of the agents - individuals or organizations - in quite different settings, both in the realm of microeconomics and macroeconomics. Within this context, the research is organized in five parts, which discuss relevant aspects of the role of prediction in economics: I) The problem of prediction as a test for a science; II) The general orientation in methodology of science and the problem of prediction as a scientific test; III) The methodological framework of social sciences and economics: Incidence for prediction as a test; IV) Epistemology and methodology of economic prediction: Rationality and empirical approaches; and V) Methodological aspects of economic prediction: From description to prescription. Thus, the book is of interest for philosophers and economists as well as policy-makers seeking to ascertain the roots of their performance. The style used lends itself to a wide audience.. (shrink)