Monetary intelligence theory asserts that individuals apply their money attitude to frame critical concerns in the context and strategically select certain options to achieve financial goals and ultimate happiness. This study explores the dark side of monetary Intelligence and behavioral economics—dishonesty. Dishonesty, a risky prospect, involves cost–benefit analysis of self-interest. We frame good or bad barrels in the environmental context as a proxy of high or low probability of getting caught for dishonesty, respectively. We theorize: The magnitude and intensity of (...) the relationship between love of money and dishonest prospect may reveal how individuals frame dishonesty in the context of two levels of subjective norm—perceived corporate ethical values at the micro-level and Corruption Perceptions Index at the macro-level, collected from multiple sources. Based on 6382 managers in 31 geopolitical entities across six continents, our cross-level three-way interaction effect illustrates: As expected, managers in good barrels, mixed barrels, and bad barrels display low, medium, and high magnitude of dishonesty, respectively. With high CEV, the intensity is the same across cultures. With low CEV, the intensity of dishonesty is the highest in high CPI entities —the Enron Effect, but the lowest in low CPI entities. CPI has a strong impact on the magnitude of dishonesty, whereas CEV has a strong impact on the intensity of dishonesty. We demonstrate dishonesty in light of monetary values and two frames of social norm, revealing critical implications to the field of behavioral economics and business ethics. (shrink)

Corruption involves greed, money, and risky decision-making. We explore the love of money, pay satisfaction, probability of risk, and dishonesty across cultures. Avaricious monetary aspiration breeds unethicality. Prospect theory frames decisions in the gains-losses domain and high-low probability. Pay dissatisfaction (in the losses domain) incites dishonesty in the name of justice at the individual level. The Corruption Perceptions Index, CPI, signals a high-low probability of getting caught for dishonesty at the country level. We theorize that decision-makers adopt avaricious love-of-money aspiration (...) as a lens and frame dishonesty in the gains-losses domain (pay satisfaction-dissatisfaction, Level 1) and high-low probability (CPI, Level 2) to maximize expected utility and ultimate serenity. We challenge the myth: Pay satisfaction mitigates dishonesty across nations consistently. Based on 6500 managers in 32 countries, our cross-level three-dimensional visualization offers the following discoveries. Under high aspiration conditions, pay dissatisfaction excites the highest- (third-highest) avaricious justice-seeking dishonesty in high (medium) CPI nations, supporting the certainty effect. However, pay satisfaction provokes the second-highest avaricious opportunity-seizing dishonesty in low CPI entities, sustaining the possibility effect—maximizing expected utility. Under low aspiration conditions, high pay satisfaction consistently leads to low dishonesty, demonstrating risk aversion—achieving ultimate serenity. We expand prospect theory from a micro and individual-level theory to a cross-level theory of monetary wisdom across 32 nations. We enhance the S-shaped Curve to three 3-D corruption surfaces across three levels of the global economic pyramid, providing novel insights into behavioral economics, business ethics, the environment, and responsibility. (shrink)

Monetary Intelligence theory asserts that individuals apply their money attitude to frame critical concerns in the context and strategically select certain options to achieve financial goals and ultimate happiness. This study explores the bright side of Monetary Intelligence and behavioral economics, frames money attitude in the context of pay and life satisfaction, and controls money at the macro-level and micro-level. We theorize: Managers with low love of money motive but high stewardship behavior will have high subjective well-being: pay satisfaction and (...) quality of life. Data collected from 6586 managers in 32 cultures across six continents support our theory. Interestingly, GDP per capita is related to life satisfaction, but not to pay satisfaction. Individual income is related to both life and pay satisfaction. Neither GDP nor income is related to Happiness. Our theoretical model across three GDP groups offers new discoveries: In high GDP entities, “high income” not only reduces aspirations—“Rich, Motivator, and Power,” but also promotes stewardship behavior—“Budget, Give/Donate, and Contribute” and appreciation of “Achievement.” After controlling income, we demonstrate the bright side of Monetary Intelligence: Low love of money motive but high stewardship behavior define Monetary Intelligence. “Good apples enjoy good quality of life in good barrels.” This notion adds another explanation to managers’ low magnitude of dishonesty in entities with high Corruption Perceptions Index. In low GDP entities, high income is related to poor Budgeting skills and escalated Happiness. These managers experience equal satisfaction with pay and life. We add a new vocabulary to the conversation of monetary intelligence, income, GDP, happiness, subjective well-being, good and bad apples and barrels, corruption, and behavioral ethics. (shrink)

This first chapter locates crucial elements of James's notion of truth within James's 'The Will to Believe." James recognizes evidential criteria in the formation of belief, in contrast to a common claim that for him beliefs are generated in an evidential vacuum. Jamess view of evidence in "The Will to Believe" also stands as a pragmatic reappraisal of traditional epistemology, and such criteria are individualistic. But his treatment should not be taken as subjectivist, in the sense that personal whim or (...) desire always override evidential criteria in the formation of belief. Rather, James's view allows him to avoid both subjectivism and traditional evidentialism. The second chapter suggests that "The Will to Believe" also contains a notion of pluralism, which is intimately related to radical empiricism. James develops two levels of pluralism, individualistic and social. Whereas the first chapter concerns inquiry on an individual level, the second locates the individual within society. James's position on pluralism is also discussed briefly in relation to contemporary ethical theory. Perhaps James's most important notion is that of an "intellectual republic." Such a republic would emerge from a productive mediation between the two levels of pluralism outlined in the essay. In closing, it is suggested that the relationship between James and Josiah Royce illustrates James's ideal of such mediation. The third chapter develops notions of social inquiry hinted at by James within the more radically social philosophy of John Dewey. Following a brief discussion of Platonic assumptions regnant in contemporary discussions, Dewey's views are offered as an alternative to some unpalatable consequences of Platonism. A brief discussion of Dewey's metaphysics and epistemology follows; Dewey manages to avoid both Platonism and relativism, while maintaining the stable and precarious elements traditionally associated with either approach. In conclusion, it is suggested that Dewey's use of the stable and precarious constitute a basis for his notion of criticism, where inquiry is viewed not as a bid for ultimate clarity, but rather as a pattern of interrelationships between elements imbedded within context. Since escape from context is impossible, clarity is also contextual. (shrink)

Chapter One distinguishes the early, individualistic, writings from the later, more socially conscious ones. The metaphysical language of impermeable surfaces and levels, and rigid hierarchies, is consonant in James's writing with the assumption of what Dewey calls an individual/society split. ;Chapter Two focuses upon the relational self from the Principles of Psychology. The central pair of terms is that of strength/fragility, in which a self is revealed that is both functionally efficacious through activities of emphasis, selection, and negation, and permeable (...) to context. ;Chapter Three discusses the "social organism" and the "intellectual republic" from The Will to Believe and Other Essays in Popular Philosophy. James uses more socially conscious metaphors, and discusses the public and the private; "inner" and "outer" tolerance; and the "personal contribution," "X," which must be added to the "world," "M." ;Chapter Four discusses the "nucleus" of relations from Essays in Radical Empiricism. The personal aspect of social experience falls within the realm of "co-conscious relations" and the public falls within the sphere of the "conterminous." The strong side of the self, from Chapter Two; the private, or personal; inner tolerance; and the personal contribution, "X," from Chapter Three, belong to the sphere of co-conscious relations, as discussed in Chapter Four, just as the fragile side, the public; outer tolerance; and the world, "M," all belong to the sphere of conterminous relations. ;Chapter Five discusses the metaphor of Papini's corridor from Pragmatism. The adjoining rooms can be seen to symbolize the sphere of co-conscious relations, and the corridor of conterminous ones. The metaphysics of background and foreground points to an instrumentalist interpretation of the self, which represents a complete departure from James's early individualism. (shrink)