This book studies the interfaces of ethics, economics, and politics. Public policy issues involve all three of these subjects. Although it may be seen as suggesting the nucleus of a joint university course, the book is accessible to and should interest all those concerned with political decisions. Any such decision needs a criterion for judging whether one action or outcome is better than another. Even a dictator must to some extent be concerned about the economic elfare of (...) the citizens; and a democratic government more so. But how is a person's economic welfare to be judged? Furthermore, any political decision affects the economic welfare of different people differently. How then is the welfare of a community to be judged? This is an ethical question. Underlying any coherent public policy there must be a relevant moral code. (shrink)

This book studies the interfaces of ethics, economics, and politics. Public policy issues involve all three of these subjects. Although it may be seen as suggesting the nucleus of a joint university course, the book is accessible to and should interest all those concerned with political decisions. Any such decision needs a criterion for judging whether one action or outcome is better than another. Even a dictator must to some extent be concerned about the economic welfare of (...) the citizens; and a democratic government more so. But how is a person's economic welfare to be judged? Furthermore, any political decision affects the economic welfare of different people differently. How then is the welfare of a community to be judged? This is an ethical question. Underlying any coherent public policy there must be a relevant moral code. (shrink)

'Trade in Health is a timely reflection on the interface of economics with the ethics and public policy facets of the international movement of patients. Health issues such as these are at the forefront of modern political economy."National" health is increasingly less so. Reisman's previous scholarship in this area is brought to bear in an insightful and eminently readable and engaging fashion. In an area where uncovering the facts is more difficult than "decyphering the Dead Sea Scrolls", such a (...) reflective work on the critical aspects of political economy helps to fill a void in considering whether such trade is likely to be in the interests of patients, nations and the global community. In addition to the rosy picture of healthy and wealthy tourists having a sojourn for medical care during a vacation, Reisman is not afraid to tackle the thorny issues concerning trade in organs, eggs and even death, in this sobering and comprehensive volume. It is a rare skill to bring the luminaries of Smith, Marshall, Mill and Confucius to bear on such a contemporary tale! International travel by patients is at the nexus of a revolution in global health. It is driving and affecting aspects of foreign investment, health worker migration and e-health provision. Reisman skilfully links these foundations of health care, and as such provides critical text for consideration by those seeking to build and strengthen future health systems. Trade in Health is an excellent overview. It provides critical insights for those new to the area as well as new information and challenges for those of us involved for a number of years.' - Richard Smith, Professor of Health Ssytem Economics and Dean of Faculty of Public Health and Policy, London School of Hygiene & Tropical Medicine, UK. Once exports and imports meant agriculture and industry. In the global economy and the electronic age, trade is also expanding into the service sector. This timely book closely examines trade in health. It documents the growth of a cross-national service that in the past was mainly consumed at home. Following from his highly successful book Health Tourism, Professor David Reisman offers a comprehensive and searching multidisciplinary account of the way in which medical services, patients, capital and professionals are making up a global healthcare economy that crosses borders. He reflects on their pursuit of lower prices, better quality and a differentiated product, and suggests that public policy is essential if the ethical capital of interdependent societies is not to be eroded by the international market in health and care. Written in a concise and lucid form, this original book will be of great interest to all people interested in the internationalization of health care. Combining theory and empirical evidence from economics, tourism and medical care, scholars involved in health policy and social administration will find much of significance in this authoritative study. (shrink)

This book considers traditional public economy theory of public goods provision as oversimplified, because it is state centered and fiscally focused.

The economic aspect of teachers's salaries.--Public school maintenance.

_Unequivocal Justice_ challenges the prevailing view within political philosophy that broadly free market regimes are inconsistent with the basic principles of liberal egalitarian justice. Freiman argues that the liberal egalitarian rejection of free market regimes rests on a crucial methodological mistake. Liberal egalitarians regularly assume an ideal "public interest" model of political behavior and a nonideal "private interest" model of behavior in the market and civil society. Freiman argues that this asymmetrical application of behavioral assumptions biases the (...) analysis and undercuts ideal theoretical treatments of every major liberal egalitarian principle, including political liberty, economic sufficiency, fair opportunity, and social equality. This book reexamines the institutional implications of each of these principles in nonideal conditions, making novel philosophical use of political psychology and public choice economics along the way. (shrink)

This collection of essays by Sheila Jasanoff explores how democratic governments construct public reason, that is, the forms of evidence and argument used in making state decisions accountable to citizens.

Alongside other types of mass atrocities, genocide has received extensive scholarly, policy, and practitioner attention. Missing, however, is the contribution of economists to better understand and prevent such crimes. This edited collection by 41 accomplished scholars examines economic aspects of genocides, other mass atrocities, and their prevention. Chapters include numerous case studies, probing literature reviews, and completely novel work based on extraordinary country-specific datasets. Also included are chapters on the demographic, gendered, and economic class nature of genocide. Replete (...) with research- and policy-relevant findings, new insights are derived from behavioral economics, law and economics, political economy, macroeconomic modeling, microeconomics, development economics, industrial organization, identity economics, and other fields. Analytical approaches include constrained optimization theory, game theory, and sophisticated statistical work in data-mining, econometrics, and forecasting.A foremost finding of the book concerns atrocity architects' purposeful, strategic use of violence, often manipulating nonrational proclivities among ordinary people to sway their participation in mass murder. Relatively understudied in the literature, the book also analyzes the options of victims before, during, and after mass violence. Further, the book shows how well-intended prevention efforts can backfire and increase violence, how wrong post-genocide design can entrench vested interests to reinforce exclusion of vulnerable peoples, and how businesses can become complicit in genocide. In addition to the necessity of healthy opportunities in employment, education, and key sectors in prevention work, the book shows why new genocide prevention laws and institutions must be based on reformulated incentives that consider insights from law and economics, behavioral economics, and collective action economics. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Buddhist-Christian Studies 22 (2002) 47-60 [Access article in PDF] Economic Aspects of Social and Environmental Violence from a Buddhist Perspective Sulak Sivaraksa Pacarayasara I have been asked to write on some economic aspects of social and environmental violence, approaching the subject from a Buddhist perspective. Indeed this invitation offers a wide range of choices, but I shall try to keep my subject matter fairly general and straightforward. (...) The present economic reality, widely known as neoliberal capitalism, prizes the accumulation of profits over human well-being and environmental sustainability. As such, it is criminal and hence definitely not the way to regulate or organize the global society. The present trend, however, is increasingly giving the agents and institutions of capital a free hand to do so.The main beneficiaries of this violent and highly unjust system are invariably transnational corporations (though some critics prefer to call them transnational tyrannies), big financial investors, and their supporters. Roughly two-thirds of what is known today as world trade are simply intrafirm or interfirm trade. Small wonder that they are virtually the present-day "masters of the universe," increasingly accumulating special rights, influence, and power vis-à-vis the mass of humanity. An open secret is that the wealthiest 20 percent of the world's population receive 83 percent of the world's total income—a fact that no longer creates consternation or moral outrage in the mainstream; rather, it is taken as a healthy phenomenon that will contribute to human progress. Moreover, the environment is being plundered to quench the greed—which happens to be a bottomless pit—of the few. Inevitably, this creates a two-tiered system both within and between countries; a small opulent minority builds their castles on the suffering and impoverishment of the absolute majority of humanity. A large segment of humanity enjoys freedom with no opportunities and has the freedom to starve but does not enjoy freedom from poverty. Everyday thousands of children are dying from easily preventable disease. Millions more are malnourished or starving. It is against this backdrop that we need to discuss some of the economic aspects of social and environmental violence from a Buddhist perspective.Let us first deal with the production side of the capitalist equation. What is its main driving force and value system? How do they impact social organization and the environment? [End Page 47] Undeniably, the fuel that keeps the capitalist engine running is profit: the more of it, the better, the argument goes. Hence, corporations must be free to pursue it at all costs. The ends justify the means. It is also argued that the profit generated by the system will eventually trickle down to benefit the mass of humanity. The available evidence points otherwise. To be fair, capitalism does generate some benefits to humanity, but they are largely unintended by-products of the system.In the mainstream discourse, profit is said to derive solely from entrepreneurship —a concept that acts as a bicarbonate of soda for intellectual and moral indigestion. In reality, the easiest and cheapest way to reap massive profit is exploitation or ostracism: One is rich by keeping or making others poor, directly or otherwise. The masters then seek solace in the tenuous assumption that the global economy utilizes the best and disposes the rest. Furthermore, the environment is seen as a subsystem of international capitalism, not vice versa. Hence it is to be raped in order to lubricate the wheels of the capitalist machine. Put differently, the insatiable quest for profit upheld by capitalism really reflects greed, hatred, moral callousness, and wanton criminal negligence toward the well-being of the people and environment. The name of the game is getting ahead even at another's expense, to rise to the top of the pecking order. If one frequents any bookstore, one is likely to find business books with interesting titles such as Divide and Rule and Colonizing the Market. This nefarious aggressiveness is benignly known as "free competition" in mainstream parlance. Those who succeed to the top are lauded as "efficient." If allowed to have a firm... (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Buddhist-Christian Studies 22 (2002) 2-15 [Access article in PDF] Economic Aspects of Social and Environmental Violence John B. Cobb Jr. Claremont School of Theology I When we think of violence, what first comes to mind are violent acts by individuals or groups against other individuals. We think of rapes and murders, lynchings and muggings, beatings and armed robberies. We want the police to protect us from this violence. (...) Unfortunately, we know that police are tempted, in turn, to employ their power in violent ways, chiefly against those guilty of crimes, but sometimes against the innocent. The cycle of violence on the part of individuals and groups goes on.Bad as this violence is, it is worse when the state, instead of restricting it, supports and requires it. Political authorities have always exercised violence against their own people, especially those they suspected of being threats to their power. But in the twentieth century, state violence reached previously unheard of levels. For the sake of building a communist society, Stalin killed millions and imprisoned millions more. The Nazis undertook to purify Germany of Jews, gypsies, and other undesirables through extermination undertaken through bureaucratic processes.We Americans do not think of ourselves as having employed state power in any such way. We know that national power was used violently to drive Native Americans off their land down through the nineteenth century. We know that southern states used their power to enforce segregation and protect whites who engaged in violent acts against blacks in order to maintain total white domination over them. But we now think of the national government much more as the protector of human rights. This is not entirely false.We tend not to recognize, however, the amount of violence the national government is exercising in the wars against crime and drugs. In order to reduce individual violence as well as drug use, we have created a prison population of two million. One-fourth of all the prisoners in the world are in the United States, most of them jailed for nonviolent crimes. Although drug use is more or less equally spread among ethnic and economic groups, most of those imprisoned for this crime are poor and ethnic minorities. In the name of law and order, enormous violence is inflicted by the United States against the people of its ghettos. [End Page 3]In this same century war also took on new dimensions. It has been waged against entire populations instead of armies. The aim at total destruction came to its fullest expression when twice the United States dropped atomic bombs on Japan.World War II has made all of us sadly aware of the horrors of state violence. It has turned us against nationalism. We are appalled as we see nationalism raise its ugly head again in the former Soviet Union and especially in the former Yugoslavia. When ethnic groups undertake to destroy each other, our moral condemnation is unambiguous. Personal, group, and state violence remains a problem, but at least the wrong involved in this is widely understood.In all civilization there has been another kind of violence—economic. In much of history economic violence has been closely related to the forms noted above. The rich have been able to impose their will on the poor because they could employ persons to exercise violence for them and they could influence state action. We see this glaringly in the "goon squads" employed by the wealthy in some Latin American countries to intimidate and kill those who protest their actions. These goon squads often work closely with the military power of the state.We know that in this country as well, wealth reduces the chance of conviction for crimes. It also buys influence in government. On the whole the United States government throughout history has supported the interests of those with money. Today the power of wealth in the political process is clearly evident. We recognize that this situation is corrupt, but we do not ordinarily think of it as a form of violence. This is because the violent consequences are indirect, and we are... (shrink)

There has been considerable interest in the literature about how professions operate in both the private and public interest. This paper examines this issue in the context of the enforcement of the professional code of conduct of a particular professional accounting association. The paper explores whether certain enforcement actions of the association suggest behaviour motivated at least partially by private interest. It then considers whether the consequences of such behaviour or practices are troubling.

Rarely in the short history of liberal-democratic government has a primer on basic liberal-democratic values and institutions been more needed than now. Popular discontent, even anger, with democratic governments has grown steadily over the past twenty years. And not since the 1930s have citizens and their elected officials been so baffled about their respective roles in the maintenance of both democratic governments and liberal economies. This book attempts to address this growing need. Especially written as a primer for courses in (...) Philosophy, Politics and Economics (PPE), it has introductory chapters on all three main disciplines. It also has chapters on the rule of law and on three important public-policy areas: Corruption, Climate, and Civil Society. Individual topics discussed include free and fair elections, populism, responsible government, republican and Westminster systems of government, regulated free markets, the Great Recession of 2008, globalization, greenwashing, identity politics, academic freedom, utilitarianism, social contract theory, positive and negative liberty, and the good life. Historically informed, The Ethics and Economics of Liberal Democracies: Foundations for PPE is sure to be of interest to students who are interested in public-policy work, as well as those who are interested in both the theory and practice of democratic government. (shrink)

This paper examines the debate over the relationship between the public sphere and communication, which has become a focus of attention after the publication of Jürgen Habermas's Structural Transformation of Public Sphere in English in 1989, following the two volumes of his The Theory of Communicative Action in 1984 and 1987. Although the historical account of the public sphere has also received a good deal of attention, I deal mainly with the normative dimension of Habermas's theory as (...) it led to a rethinking and reassessment of public broadcasting, to the end of restructuring it as a site where 'citizens act as a public'. That is to say, a site where people assemble and unite freely, and express and publicize their opinions on matters of general interest without constraint in an age of deregulated communications. Several scholars have provided us with maps for re-organizing the media of communications in this respect, but they have failed to analyze the 'information' which feeds the 'informed citizen'. This paper addresses not only what information means today—whether it is a digit, a signal, or content—but also how it is produced within daily routine practices and how the nature of the means of its dissemination influences its character. Another serious aspect of those assessments, including that of Habermas, is the global character of communications today. Habermas is well aware of the mismatch between the global market and the absence of its corollary in politics. Yet his silence in the economics of information, even as he acknowledges the digitalization of communications and 'a world public sphere', also calls for a critical account of the relations between 'information', democratic politics and the question of scale. (shrink)

This book examines the concept of public interest against the background of English politics from the Civil War to the coming of the Hanoverians. These years witnessed both the rise of the modern notion of the public interest as a part of ordinary political language and the growth of a social philosophy of individualism. The new ideas challenged the _status quo_, based on order, reason of state and national power, in the name of legitimate self-interest (...) and respect for the rights of the private person. In presenting a complex set of ideas in their historical context, the author examines both abstract philosophies and the issues of the day as recorded in press, pulpit and law courts. A chapter devoted to economic thought includes a re-assessment of the social assumptions of mercantilism. (shrink)

On 21 June 2011 the Parliament of the Republic of Lithuania adopted extensive and important amendments of the Code of Civil Procedure of the Republic of Lithuania. Most of them came into force on 1 October 2011.One of the important tasks that have been mentioned for the preparation of amendments was to ensure the implementation of the Constitutional Court’s doctrine of matters of civil procedure. This article analyses one of the changed aspect - the system of defence of public (...) interest. The doctrine of concept of public interest was formed by the resolutions of the Lithuanian Constitutional Court adopted on 16 January and 21 September 2006. That concept was quite confusing and could be interpreted widely as well as narrowly (such as protection of special key values in the Constitution). This paper analyses the manner in which the doctrine of the Constitutional Court has been implemented in the law of civil procedure. In addition, the article analyzes the history of the amendments in the Code of Civil Procedure relating to the protection of public interest. The author presents a situation proposed to the Working Group that prepared the draft amendments to the Code of Civil Procedure, and compares the proposals with the effective version of the Code of Civil Procedure. The same article analyses the way that the effective version of the Code of Civil Procedure forces to the protection of the public interest doctrine of the Constitutional Court. The author concludes that the current system is conducive to abuses when the state can envisage the existence of public interest in every dispute and intervene in its investigation. In addition, the court is transformed into an entity liable to defend public interest, while it should be an independent and impartial entity to administer justice. Let us hope that in judicial practice the concept of public interest will be interpreted very narrowly and the Code of Civil Procedure provides the right to collect evidence or apply interim protection measures and etc. will be seen as a political mistake and generally will not be applied (except when it comes to non dispositive cases). (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Kennedy Institute of Ethics Journal 15.2 (2005) 199-210 [Access article in PDF] Conflict-of-Interest Policy at the National Institutes of Health: The Pendulum Swings Wildly* Evan G. DeRenzo **This article addresses the National Institutes of Health (NIH) employee conflict-of-interest (COI) policy that went into effect February 2005. It is not, however, merely an account of another poorly crafted government policy that cries out for revision. Instead, it is (...) also a story about one of our nation's most important and prestigious institutions and its struggles to navigate the crosscurrents of scientific aspirations, power politics, public ambivalence toward capitalist economics in the biosciences, and the media's inclination to exaggerate problems and under report complicated facts. It is also a tale of greed, politics, purgatory, and redemption. The dramatic and abrupt change in the NIH COI policy demonstrates the difficulty of balancing the production of cutting-edge science with the demands for transparency resulting from work performed in the public interest on the public tab. It is an unhappy chapter in the life of a government agency that is also a national treasure. And, one hopes, it will be an example of how harmful and ill-conceived law can be revised and amended to advance national health and well-being. What is the New NIH COI Policy? The new NIH COI employee policy, more accurately referred to as the Interim Final Rule (Federal Register 2005), is a sweeping set of prohibitions on activities and holdings to reduce the possibility that NIH employees will have any actual [End Page 199] or apparent conflicts of interest. For the most part, the prohibitions are applied across-the-board—i.e., without distinction to employee category or function. The new policy includes prohibitions on outside activities, stock holdings, and awards. It prohibits all NIH employees from engaging in any compensated or uncompensated employment, including consulting, serving on advisory or other such boards, and compensated teaching, speaking, writing, or editing with certain kinds of entities. The first class of such entities is referred to as substantially affected organizations, defined as biotechnology, pharmaceutical, medical device companies, and others with similar interests. But these are not the only entities included in the prohibitions. Other organizations from which NIH employees now are cut off are hospitals, clinics, and other health care institutions; health, science, or health research-related professional associations and consumer and advocacy groups. Included also are educational institutions and not-for-profit independent research institutes that are, or were, recent NIH funding applicants, grantees, contractors, or cooperative research and development agreement (CRADA) partners. The only exemptions appear to be for health care institutions at which NIH employees provide clinical care and some forms of writing—e.g., an NIH physician who moonlights at her/his local hospital's emergency room or submits a manuscript to a peer-reviewed journal that receives only unrestricted funding from a prohibited entity. Prohibited and/or restricted holdings include stock in biotechnology, pharmaceutical, and medical device companies and others in research, development, or manufacture of medical devices, equipment, preparations, treatments, or products. The prohibitions apply to senior NIH employees; restrictions in the amount of such holdings apply to all remaining employees. Both apply to the spouses and minor children of NIH employees. If an NIH employee wins an award, the monetary allowance in most cases is limited to $200. In sum, the scope of this policy is vast, too vast to be reasonable. Too many employees are restricted in too many ways. Where appropriate restrictions have been placed on senior NIH employees, even these constructive aspects of the policy are overshadowed by the unfairness and destructiveness of other aspects. This policy far exceeds anything that could be considered sound. Fortunately, the policy has a built-in assessment process to begin at the end of the policy's first year of implementation. One can only hope that a fair and open evaluation will be conducted, the results of which surely must result in major revisions to what is now bad regulation. Why the Policy... (shrink)

In lieu of an abstract, here is a brief excerpt of the content:110 DAVID HUME'S INVISIBLE HAND IN THE WEALTH OF NATIONS THE PUBLIC CHOICE OF MORAL INFORMATION Introduction The thesis I shall defend is that there are systematic aspects of Adam Smith's economics which make little sense when read in isolation from a literature in which David Hume provides the signal contributions. Consequently, parts of Hume's own work are stripped of meaning, isolated as they are from later developments. (...) The puzzles about Smith's analysis which I find illuminated by Hume's are the following: 1. Why does Smith both defend the importance of economic growth for the material of well-being of the working class and claim that property originates as spoil, impoverishing the working class? After all, in the classical system the existence of property is one requisite for economic growth. 2. Why does Smith exalt the assumption of self-interested behavior in private activity but claim that irrationality dominates the political process? 3. Why does Smith deny the importance of benevolence in Wealth of Nations and insist on the importance of morality Sentiment morality in Theory of Moral its?3 The three questions have a common feature: they are related to the question of how public goods are provided. The particular public good in question is the institution of private property. As with all true I am obligated to the Center for Study of Public Choice for generous support of my research. Suzanne Levy gets the credit for the extent to which this approaches English. I have benefited from acute comments from Charles Rowley and Charles Griswold. The errors and obscurities which remain are solely my responsibility. Ill public goods, society considered as a whole benefits from having such an institution, but each individual considered separately can gain by anti-social behavior.4 Public goods provide a considerable difficulty for any social institution; neither competition in the market nor government requests that individuals reveal how much they wish to be taxed are certain to be efficient. There are aspects of the classical economic analysis which stress the importance of moral information as a partial solution to the public goods problem. By "moral information" I only require that the theory is employed as a guide and that if an individual acts contrary to the theory, this choice is not cited as "falsifying" the theory. Rather, something is said to be "wrong" or "wicked" about the choice.6 Much of modern economic analysis assumes that individuals have perfect information; this postulate rules out any significant role for moral information in the provision of the public goods. To avoid assuming away such a role for morality, we will drop the perfect information assumption and then examine if we can make sense of the classics' attack on the public goods problem. Of course, the specification that individuals see their own interests very poorly is consistent with Smith's general approach. The technique employed below is to look at the issue which Hume and Smith addressed as a problem in modern economics. The key difficulty is to determine under what conditions moral information could guide individuals with very imperfect perceptions to maximize their utility. In particular, suppose we find that moral guidance tells an individual how efficiently to produce. Is this morality self-enforcing or are resources required to persuade people to act in accord with these teachings? If resources are required, we will not pay much attention to just how this persuasion 112 is provided, e.g., whether we tell people that theft is "evil" or whether we hang a few thieves. General production theory tells us we probably will do both, but this is a separate issue. The argument to be advanced is that moral information has self-enforcement properties in private activities but these properties are missing in public activities. In this account, then, real resources will be required for implementing the morality. This consideration in turn raises an interesting issue. If the government expends these resources, what reason is there to believe that they will be provided to serve the public interest and not the interest of the government? Is it possible that the government can prosper by keeping people ignorant or by giving them advice... (shrink)

This collection of original essays by leading and emerging scholars in the field examines the history, conditions, organization, and strategies of pro bono lawyering. Private Lawyers and the Public Interest: The Evolving Role of Pro Bono in the Legal Profession traces the rise and impact of the American Bar Association's campaign to hold lawyers accountable for a commitment to public service and to encourage public service within law schools. Combining empirical legal research with reflections by practitioners (...) and theorists about the meaning and practice of pro bono legal work, this collection of essays interrogates the public service ideals that are inscribed within the legal profession and places these ideals within a broader social, economic, ideological, and normative context. Particular attention is paid to the factors that explain why lawyers engage in pro bono work and the ways in which their views of pro bono are mediated by the institutional context of their legal practice. The book also explores the concept of "public" in public service and compares pro bono as a means of delivering legal services with other mechanisms such as state funding. Collectively, these essays investigate the evolving role of pro bono in the legal profession and in law schools, the relationship between pro bono ideals and pro bono in practice, the way that pro bono is shaped by external forces beyond the individual practitioner, and the multi-faceted nature of legal professionalism as expressed through pro bono practice. (shrink)

This volume explores the opportunities and challenges facing the accounting profession in an increasingly globalized business and financial reporting environment. It looks back at past experiences of the profession in attempting to meet its public interest obligation. It examines the role and responsibilities of accounting to society including regulatory requirements, increased emphasis on corporate social responsibility, accounting fraud and whistle-blowing implications, internationalization of public interest obligations, and providing the education needed to be successful. The book incorporates (...) an ethical dimension in making these assessments. Its focus is a conceptual, theoretical one drawing on classical philosophy, the sociology of professions, economic theory, and the public interest dimension of accountants as professionals. The authors of papers are long-time contributors to the annual symposium on Research in Accounting Ethics sponsored by the Public Interest Section of the AAA.. (shrink)

>With assets of over US$1.0 trillion and growing, public pension funds in the United States have become a major force in the private sector through their holding of equity positions in large publicly traded corporations. More recently, these funds have been expanding their investment strategy by considering a corporations long-term risks on issues such as environmental protection, sustainability, and good corporate citizenship, and how these factors impact a companys long-term performance. Conventional wisdom argues that the fiduciary responsibility of the (...) pension funds trustees must be solely focused on their beneficiaries and, therefore, their investment criteria must be based strictly on narrowly defined financial measures. It is also asserted that well-established financial measurements of corporate performance already include long-term risk assessment through discounted present value of future flow of earnings. Consequently, all other criteria are contrary to the best interest of the pension funds beneficiaries. In this paper, we assert that, contrary to conventional wisdom, pension funds, and for that matter other mutual funds, must be concerned with the long-term survival and growth of corporations. These measures are generally referred to socially responsible investing (SRI) and when applied to corporations, it is termed socially responsible corporate conduct (SRCC). We demonstrate that current measurement of future risk assessment invariably understates, and quite often completely overlooks, these long-term risks because of the inherent bias towards short-run on the part of financial intermediaries whose compensation depends greatly on short-term results. Furthermore, there is ample evidence to suggest that these intermediaries have been engaging in self-serving practices and thus failing in their duties to serve their clients, i.e. pension funds, best interests. Because of their large holdings in the total market as well as individual companies, these funds cannot easily divest from poorly performing companies without destabilizing the companies stock and overall markets. Hence, they must opt for a strategy of emphasizing investment criteria that encourage companies to take into account long-term aspects of their operations in terms of their impact on environment, sustainability, and community welfare, to name a few. We argue that an exclusionary, and even a primary, focus on short-term financial criteria is no longer a viable option. It also calls for the pension funds to encourage greater transparency and accountability of the entire corporate sector through improved corporate governance. Thus socially responsible investing practices are not merely discretionary and desirable activities; they are a necessary imperative, which both the corporations and public pension funds, and other large institutional holders, will ignore at serious peril to themselves. Finally, the paper considers some of the recent developments where corporations have been responding to these challenges and how their actions might be strengthened through greater disclosure and transparency of corporate activities. It also makes recommendations for the pension funds to support further research in creating new measurement standards that further refine the concept of socially responsible investing as a necessary ingredient of long-term corporate survival and growth in the context of a changing economic, environmental and socio-political dynamic. (shrink)

National decline is typically blamed on special interests from the demand side of politics corrupting a country's institutions. The usual demand-side suspects include crony capitalists, consumer activists, economic elites, and labor unions. Less attention is given to government insiders on the supply side of politics - rulers, elected officials, bureaucrats, and public employees. In autocracies and democracies, government insiders have the motive, means, and opportunity to co-opt political power for their benefit and at the expense of national well-being. (...) Many storied empires have succumbed to such inside jobs. Today, they imperil countries as different as China and the United States. Democracy - government by the people - does not ensure government for the people. Understanding how government insiders use their power to subvert the public interest - and how these negative consequences can be mitigated - is the topic of this book by Mark A. Zupan. (shrink)

The scientific development of 3D bioprinting is rapidly advancing. This innovative technology involves many ethical and regulatory issues, including theoretical, source, transplantation and enhancement, animal welfare, economic, safety and information arguments. 3D bioprinting technology requires an adequate bioethical debate in order to develop regulations in the interest both of public health and the development of research. This paper aims to initiate and promote ethical debate. The authors examine scientific aspects of 3D bioprinting technology and explore related ethical (...) issues, with special regard to the protection of individual rights and transparency of research. In common with all new biotechnologies, 3D bioprinting technology involves both opportunities and risks. Consequently, several scientific and ethical issues need to be addressed. A bioethical debate should be carefully increased through a multidisciplinary approach among experts and also among the public. (shrink)

With assets of over US$1.0 trillion and growing, public pension funds in the United States have become a major force in the private sector through their holding of equity positions in large publicly traded corporations. More recently, these funds have been expanding their investment strategy by considering a corporation's long-term risks on issues such as environmental protection, sustainability, and good corporate citizenship, and how these factors impact a company's long-term performance. Conventional wisdom argues that the fiduciary responsibility of the (...) pension funds' trustees must be solely focused on their beneficiaries and, therefore, their investment criteria must be based strictly on narrowly defined financial measures. It is also asserted that well-established financial measurements of corporate performance already include long-term risk assessment through discounted present value of future flow of earnings. Consequently, all other criteria are contrary to the best interest of the pension funds' beneficiaries. In this paper, we assert that, contrary to conventional wisdom, pension funds, and for that matter other mutual funds, must be concerned with the long-term survival and growth of corporations. These measures are generally referred to "socially responsible investing" and when applied to corporations, it is termed "socially responsible corporate conduct." We demonstrate that current measurement of future risk assessment invariably understates, and quite often completely overlooks, these long-term risks because of the inherent bias towards short-run on the part of financial intermediaries whose compensation depends greatly on short-term results. Furthermore, there is ample evidence to suggest that these intermediaries have been engaging in self-serving practices and thus failing in their duties to serve their clients', i.e. pension funds', best interests. Because of their large holdings in the total market as well as individual companies, these funds cannot easily divest from poorly performing companies without destabilizing the companies' stock and overall markets. Hence, they must opt for a strategy of emphasizing investment criteria that encourage companies to take into account long-term aspects of their operations in terms of their impact on environment, sustainability, and community welfare, to name a few. We argue that an exclusionary, and even a primary, focus on short-term financial criteria is no longer a viable option. It also calls for the pension funds to encourage greater transparency and accountability of the entire corporate sector through improved corporate governance. Thus socially responsible investing practices are not merely discretionary and desirable activities; they are a necessary imperative, which both the corporations and public pension funds, and other large institutional holders, will ignore at serious peril to themselves. Finally, the paper considers some of the recent developments where corporations have been responding to these challenges and how their actions might be strengthened through greater disclosure and transparency of corporate activities. It also makes recommendations for the pension funds to support further research in creating new measurement standards that further refine the concept of socially responsible investing as a necessary ingredient of long-term corporate survival and growth in the context of a changing economic, environmental and socio-political dynamic. (shrink)

When President Reagan and Prime Minister Thatcher adopted the neoliberal doctrine as the paradigm of economics, there was no evidence that the move would have been successful, but thirty years on, the recurrent crises that culminated in 2008 suggest a serious mis-match between expectations and outcomes: a re-examination of the paradigm is in order. This book focuses on Milton Friedman's formulation of the neoliberal doctrine, and analyses two aspects that were essential to turning it into a fully-fledged paradigm: the attribution (...) of scientific status to positive economics, which led to informing public policies on the requirements of the market; and the characterisation of economic freedom as capable of promoting political freedom, which led to identifying free market with democracy. The book exposes Friedman's methodological argument for attributing positive economics scientific status as a failure, and his characterisation of economic freedom as a delusion; it identifies in the emergence as the mainstream in economics of the neoclassical synthesis, which borrowed from Walras' the mathematical treatment of equilibrium but not the ethical and social framework in which it was inscribed, a development that facilitated the transition from the Keynesian to the neoliberal paradigm. Dr. Mosini shows that the gigantic bail-outs carried out courtesy of the public purse, which institutionalised the practice of collectivising losses while keeping profits private, were no accident, but the consequence of the rethinking of the function of lender of last resort according to Friedman's conception of rationality in relation to risk, combined with his interpretation of the 1930s recession. The book concludes that the neoliberal paradigm has served the interests of the economically powerful social strata it was designed to benefit extremely well, but that the deep, and deepening, injustice it has brought about calls for a complete rethinking of the paradigm of economics according to ethical principles respectful of human values. This book should be of interest to students and researchers of Political Economy, Economic Methodology, History of Economic Thought and Philosophy. (shrink)

Public goods, as well as commercial commodities, are affected by exclusive arrangements secured by intellectual property (IP) rights. These rights serve as an incentive to invest human and material capital in research and development. Particularly in the life sciences, IP rights regulate objects such as food and medicines that are key to securing human rights, especially the right to adequate food and the right to health. Consequently, IP serves private (economic) and public interests. Part of this charge (...) claims that the current IP regime is privatizing the very building blocks of research and development – that used to be part of the commons. The public domain, in contrast to the private domain, may be the locus of much more diverse forms of creativity that at the same time ensures a wider plurality of productive traditions. An IP regime must support a sense of public morality because it is dependent upon civil support. This inevitably prompts questions of what are “good” exclusive rights and what are “bad” exclusive rights, and how shall such IP rights be developed. We argue that the democratization of the current IP regimes is an important first step to respond to these issues. (shrink)

The aim of this paper is to analyze the factors that influence the occurrence of the criminal offense of theft as well as the roles of all parties involved in its preventive activities. Ownership creates rights and obligations, and it should serve the well-being of the individual and the community. No one can be deprived of, nor limited from property and the rights deriving from it, except when it comes to the public interest determined by law. Belongings can (...) be movable and real estate. The subject of the criminal offense of theft can be only related to movable items that have economic value and serve to human needs and not in cases when they are abandoned. In the process of preventive fight against crime, it is of great importance to define explicitly and concretely the roles, the tasks, and the goals of certain subjects of preventive activities. (shrink)

This book offers ways to overcome problems that arise when voters, politicians, and bureaucrats pursue selfish interests rather than the general interest in their political behavior. It combines previously published ideas about charging people the costs of their political actions and selling insurance against unfavorable political outcomes, with new ideas about competing legislatures and incentives for generating efficient political outcomes. The book includes new are discussed, as well as a proposed constitution and its rationale.

Within the context of the insurable interest in cargo insurance contracts, in this publication the writer analyses the theoretical aspects of the insurable interest and the relevant laws. Dealing with the problems of determining the insurable interest in cargo insurance contracts the writer has examined the possible options of insurance of the cargo in transit, and while analysing the law governing transport and the sale of goods he examines a person‘s insurable interest in the cargo insured (...) and legal remedies to protect such an interest by concluding a cargo insurance contract. The writer believes that the legal regulation of the insurable interest in Lithuania, interpreting the insurable interest as a loss sustained by a policyholder, the insured or the beneficiary upon an event insured against, fails to guarantee the protection of proprietary and economic interests of persons engaged in the circulation of commodities. Laws governing cargo insurance contracts in Lithuania do not provide a flexible protection of interests of the participants in trade operations and impedes the development of trade and transit, therefore the legal regulation of cargo insurance, especially of the insurable interest should be improved. (shrink)

The purpose of this paper is to take a critical look at some of the assumptions and theories found in economics and management and discuss their implications for the practices found in the management of business and in public management. Two sets of assumptions are of interest here. First and foremost, the assumption that economic agents are only actuated by self-interest, accompanied by assumptions about the motivating effect of pecuniary incentives and assumptions about the regulation of (...) behaviour through rules, controls and sanctions; secondly, assumptions about “scientificness” and objectivity, accompanied by demands for mathematical formalism, clear goals, quantifiable models and measurements. The assertion is that unrealistic assumptions of economics have become taken for granted and tacitly included into theories and models of management. Guiding management to behave in a fashion that apparently makes these assumptions become “true”. Cases and illustrative examples are used to show how this influences the practice of decision makers and managers. (shrink)

Many studies relate modern science to modern political and economic thought. Using one shift in order to explain the other, however, has begged the question of modernity's origins. New scientific and political reasoning emerged simultaneously as controversial forms of probabilistic reasoning. Neither could ground the other. They both rejected logical systems in favor of shifting, incomplete, and human-oriented forms of knowledge which did not meet accepted standards of speculative science. This study follows their shared development by tracing one key (...) political stratagem for linking human desires to the advancement of knowledge: the collaborative wish list. Highly controversial at the beginning of the seventeenth century, charismatic desiderata lists spread across Europe, often deployed against traditional sciences. They did not enter the academy for a century but eventually so shaped the deep structures of research that today this once controversial genre appears to be a musty and even pedantic term of art. (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)

Between 1787, and the end of his life in 1832, Bentham turned his attention to the development and application of economic ideas and principles within the general structure of his legislative project. For seventeen years this interest was manifested through a number of books and pamphlets, most of which remained in manuscript form, that develop a distinctive approach to economic questions. Although Bentham was influenced by Adam Smith's An Inquiry into the Nature and Causes of the Wealth (...) of Nations, he neither adopted a Smithian vocabulary for addressing questions of economic principle and policy, nor did he accept many of the distinctive features of Smith's economic theory. One consequence of this was that Bentham played almost no part in the development of the emerging science of political economy in the early nineteenth century. The standard histories of economics all emphasize how little he contributed to the mainstream of late eighteenth and early nineteenth-century debate by concentrating attention on his utilitarianism and the psychology of hedonism on which it is premised. Others have argued that the calculating nature of his theory of practical reason reduced the whole legislative project to a crude attempt to apply economics to all aspects of social and political life. Put at its simplest this argument amounts to the erroneous claim that Bentham's science of legislation is reducible to the science of political economy. A different but equally dangerous error would be to argue that because Bentham's conception of the science of legislation comprehends all the basic forms of social relationships, there can be no science of political economy as there is no autonomous sphere of activity governed by the principles of economics. This approach is no doubt attractive from an historical point of view given that the major premise of this argument is true, and that many of Bentham's ‘economic’ arguments are couched in terms of his theory of legislation. Yet it fails to account for the undoubted importance of political economy within Bentham's writings, not just on finance, economic policy, colonies and preventive police, but also in other aspects of his utilitarian public policy such as prison reform, pauper management, and even constitutional reform. All of these works reflect a conception of political economy in its broadest terms. However, this conception of political economy differs in many respects from that of Bentham's contemporaries, and for this reason Bentham's distinctive approach to problems of economics and political economy has largely been misunderstood. (shrink)

In the modern world, science and technology touch our lives every day, and if they are to serve the public interest it is more important than ever that society discusses the way in which scientific research is performed, funded, organized and reported. Science for Survival provides an accessible and readable examination of the ways in which society interacts with science and the means by which political and other leaders use and misuse science and engineering. Case studies, such as (...) the handling of 'mad cow disease' and the internet revolution, reveal both how mistakes are often made in handling science and technology, and also how good practice can contribute to the public interest. Each of the first eight chapters of Science for Survival is focused on an issue of public debate – such as the environment, unemployment, defence, pensions, or transport policy – and uses recent examples and historical parallels to demonstrate different aspects of the relationship between science and the rest of society. The final chapter examines some of the ways in which society can discuss science, technology and engineering in order to maximise mutual understanding between scientists and non-scientists. Science for Survival is written for anyone who cares about the public interest in twenty-first century society, and about how science and technology can be used to serve the public good. (shrink)

AI for social good is a thriving research topic and a frequently declared goal of AI strategies and regulation. This article investigates the requirements necessary in order for AI to actually serve a public interest, and hence be socially good. The authors propose shifting the focus of the discourse towards democratic governance processes when developing and deploying AI systems. The article draws from the rich history of public interest theory in political philosophy and law, and develops (...) a framework for ‘public interest AI’. The framework consists of (1) public justification for the AI system, (2) an emphasis on equality, (3) deliberation/ co-design process, (4) technical safeguards, and (5) openness to validation. This framework is then applied to two case studies, namely SyRI, the Dutch welfare fraud detection project, and UNICEF’s Project Connect, that maps schools worldwide. Through the analysis of these cases, the authors conclude that public interest is a helpful and practical guide for the development and governance of AI for the people. (shrink)

ABSTRACT Four decades ago, Gerald Kramer showed that economic conditions affect electoral outcomes. Some researchers took this to mean that voters were self-interested, voting their “pocketbooks,” while others, such as Leif Lewin, took it to mean that voters were sociotropic, motivated by the public interest—and therefore altruistic. It is important, however, to avoid conflating sociotropic voters with altruistic ones. Voters might be voting in favor of politicians or parties that they think will further the public (...) class='Hi'>interest as an indirect route to furthering their own interests, as members of the public. More research, perhaps conducted using novel methodologies, is needed in order to settle the extent to which voters are motivated by self-interest or by the public interest. (shrink)

ABSTRACT Four decades ago, Gerald Kramer showed that economic conditions affect electoral outcomes. Some researchers took this to mean that voters were self-interested, voting their “pocketbooks,” while others, such as Leif Lewin, took it to mean that voters were sociotropic, motivated by the public interest—and therefore altruistic. It is important, however, to avoid conflating sociotropic voters with altruistic ones. Voters might be voting in favor of politicians or parties that they think will further the public (...) class='Hi'>interest as an indirect route to furthering their own interests, as members of the public. More research, perhaps conducted using novel methodologies, is needed in order to settle the extent to which voters are motivated by self-interest or by the public interest. (shrink)

The principle of subsidiarity can be an effective tool for adjusting economic systems and establishing the social rule-of-law concept in public organisation. In considering the usability of the principle of subsidiarity, the following aspects thereof are discussed: the role in the development of the European social model; employment in determining limits for the powers of the public and private sectors; the application in the market and planned economy systems; and the social justice function in the development of (...) a social welfare state. The principle of subsidiarity as an instrument for individuals’ interests, balancing and adjusting in the regulation of economic systems, helps to establish the relative sizes of public policy and the market, as subsidiarity can help ensure a more equitable distribution of public goods while guaranteeing the maintenance of the creative potency of operators and minimal satisfaction of vital needs of individuals unable to contribute to the production of goods. It amounts to a constitutional measure determining the balance of productive and protective state, thus ensuring the stability of the state organisation. In the concept of a social rule-of-law state, subsidiarity draws clear limits to the state’s powers, institutionally bringing together efforts of all members of the community to achieve welfare in the state. (shrink)

In the 21st century, as the peoples of the world grow more closely tied together, the question of real transnational government will finally have to be faced. The end of the Cold War has not brought the peace, freedom from atrocities, and decline of tyranny for which we hoped. It is also clearer now that problems like economic risks, tax havens, and environmental degradation arising with global markets are far outstripping the governance capacities of our 20th century system of (...) distinct nation-states, even when they try to work together through intergovernmental agreements and organized bureaucracies of specialists. This work defends a cosmopolitan approach to global justice by arguing for new ways to combine the strengths of democratic nations in order to prevent mass atrocities and to secure other global public goods. While protecting cultural pluralism, Davenport argues that a Democratic League would provide a legal order capable of uniting the strength and inspiring moral vision of democratic nations to improve international security, stop mass atrocities, assist developing nations in overcoming corruption and poverty, and, in time, potentially address other global challenges in finance, environmental sustainability, stable food supplies, immigration, and so on. This work will be of great interest to students and scholars of international relations, international organizations, philosophy and global justice. (shrink)

ABSTRACT Four decades ago, Gerald Kramer showed that economic conditions affect electoral outcomes. Some researchers took this to mean that voters were self-interested, voting their “pocketbooks,” while others, such as Leif Lewin, took it to mean that voters were sociotropic, motivated by the public interest—and therefore altruistic. It is important, however, to avoid conflating sociotropic voters with altruistic ones. Voters might be voting in favor of politicians or parties that they think will further the public (...) class='Hi'>interest as an indirect route to furthering their own interests, as members of the public. More research, perhaps conducted using novel methodologies, is needed in order to settle the extent to which voters are motivated by self-interest or by the public interest. (shrink)

This article is about the 829/1426 charitable trust deed of the Gawhar Shād Mosque and its social and economic implications. The deed was for a public-private trust : the private aspect advanced Gawhar Shād’s family interests, while the public aspect promoted the commonweal, being income for the Shiʿi shrine-complex of Imām Riżā, the Gawhar Shād Mosque, and the Sunni shrine-complex of Aḥmad-i Jām; funding for the maintenance of hydrological systems; increasing agricultural production and employment; and increasing revenues (...) to the Timurid fisc. The Persian text, an annotated translation, and a map of certain endowed blocks are included. (shrink)

The legal institute of whistleblowing as a tool for detecting wrong-doing, especially in large corporations, and at the same time as an institute of whistleblower protection is a matter of modern law and its wider use has been registered only in recent decades. However, some aspects of whistleblowing, in particular the protection of the public interest and the possibility for weaker parties to report offences to an official, can already be found in older law in many different countries. (...) Moravian provincial law was the main law on the territory of the Margraviate of Moravia, although there were other legal circuits (with regard to the personality of the law) paying quite a lot of attention to the issue of reporting offences to an official authority. This issue is connected not only with the police regulations for the protection of the country, but is also strongly reflected in the set of provisions concerning the serfs. (shrink)

continent. 1.4 (2011): 253—278. A Sense of French Politics Politics itself is not the exercise of power or struggle for power. Politics is first of all the configuration of a space as political, the framing of a specific sphere of experience, the setting of objects posed as "common" and of subjects to whom the capacity is recognized to designate these objects and discuss about them.(1) On April 14, 2011, France implemented its controversial ban of the niqab and burqa , commonly (...) referred to as the Islamic veil, in public places. On the coattails of the 2004 prohibition of religious artifacts, including the less concealing hijab or Islamic headscarves, in schools, the veil ban sparked equal outrage across both political and theological spectra, and many on both sides of the debate were quick to inquire about enforcement. As Steven Erlanger reports, “The police do not have the authority under the law to remove full veils, only to fine or require citizenship lessons for those who violate the new law.”(2) While the legal and social implications of this interdiction are ripe for study, the reprisals for breaking the law, notably compulsory citizenship classes, illuminate the strategic governmentality underlying the French government's targeting of the Muslim community, particularly those elements it considers affiliated with fundamentalist factions and/or terrorist organizations, if only through fashion—an integral component of French citizenship. Indeed, in allowing the (fashion) police to mandate instructional courses in citizenship for offenders, France implies that any Muslim choosing to wear the niqab or burqa , perhaps even for those who are already citizens, must not be aware of the subtle nuances of dress indicative of the French citizenry within public space. Furthermore, the degree of instruction requisite to citizenship, which clearly can and must be updated as the state sees fit, cements the imagined relation between citizens and states within the discourses on the veil ban. As Sharma contends, “Concepts of citizenship are the ideological glue that bonds the nation to the state. Citizenship provides the legal framework through which the state performs its role as ruler for the nation.”(3) Speaking for/as the state, French President Nicolas Sarkozy declared in a 2009 presentation before members of the government and other citizens that the burqa “is not welcome on the territory of France.”(4) Although there is nothing unique, especially recently, about a nation-state taking extreme measures to guard itself against what it deems to be threats to its sovereignty, the way in which the ongoing discourses on hijab have (d)evolved, which coincide with recent pronouncements by governmental leaders in Germany, Britain, and France that policies of multiculturalism have “failed,”(5) points toward nationalist reterritorializations, which is also to say physical and ideological re-appropriations, of public space within democratic milieux, which remain predicated upon the mediation of spaces. As Panagia deduces from Rancière, “Democracy […] is not an institutional form of government […], but an appearance whose visibilities and audibilites arise out of the dissonant blur of the everyday.”(6) Ultimately, the veil ban represents a calculated move to regulate the every day, which is to say the micropolitics of, that which is visible and invisible within French society, which makes it nothing short of a struggle to manage (the sensation of) bodies. Re-situating the political within the context of sense, Rancière argues that the fundamental essence of politics lies within the distinction between consensus and dissensus , and whereas most consider politics proper as fundamentally concerned with the fluid operations of the state— consensus , Rancière actually locates the political within events that disrupt the normative sensory order of things— dissensus . He explains, “Politics revolves around what is seen and what can be said about it, around who has the ability to see and the talent to speak, around the properties of spaces and the possibilities of time.”(7) This reformulation of politics centers on agency and, albeit perhaps unintended, representationality and offers a useful formulation for spatializing the discourses surrounding the Islamic veil, which are mired within seemingly senseless policies and practices of objectification. Instituting a normative “regime of visibility,” the French veil ban encapsulates the political economy of agency, now both mediated and representational, under the rule of nationalist governmentalities in increasingly transnational contexts.(8) Adjudicating presence within public space signals a concern with the sensory aspects of agency itself—what Rancière terms the “distribution of the sensible,” which is “a matrix that defines a set of relations between sense and sense: that is, between a form of sensory experience and an interpretation which makes sense of it.”(9) To be concerned with sense is to focus upon the body, and this somatic repositioning of the (fashionable) citizen within the territory of the state augurs the resurgence of nationalist bio-politics within Europe, since, as Hage explicates, “Nationalism, before being an explicit practice or a mode of classification, is a state of the body. It is a way of imagining one's position within the nation and what one can aspire to as a national.”(10) The French government's attempt to make (bodily) sense of public space for its citizens by and through policies aimed against a burqa-clad Muslim minority, which might only apply to “less then 400 to fewer than 2,000” women(11), reveals the necessary, yet mercurial, transmutation of public space into national space through bio-political strategies of sense-making, which, as Hage observes, denotes that “nationalists perceive themselves as spatial managers.”(12) At the center of this concern over public space is the equally contentious dimension of governing female Islamic identity, which has become one of the main critiques levied against Islam from outsiders who view the veil in its various forms as a clear sign of the religion's actual and symbolic violence against women, even if such critiques remain ensconced within nationalist discourses. As Halim and Meyers argue, “Although Western news media may focus their coverage of Muslim women on the debate over whether and the extent to which the veil may by oppressive to the women who wear it, they have exhibited little interest in the physical oppression of violence against women in Islamic countries.”(13) While it falls outside of the scope of this analysis to arbitrate all of the dimensions of this debate, understanding some of the issues related to female identity and hijab within public space are crucial to this study. As these topics are extraordinarily complex, even and perhaps especially within the Muslim community, it is necessary to provide some context concerning the value, purpose, and meaning of the Islamic veil, which has a rich and arduous history. The Art of the Veil At present, there are only two countries, Iran and Saudi Arabia, that require women to wear hijab , which is a decidedly problematic term and concept whose locus is itself caught within a struggle of sensation. Noting the strategic reterritorialization of the term, Berger explains: The choice of the name, hijab , now widely adopted to designate the “Islamic veil,” it itself interesting, although the semantic shift it operates is not directly commented upon by its users. Although the design (both the cut and the symbolic function) of the hijab and the Iranian chador are indeed the same, as opposed, for instance, to the traditional Algerian haik , the word hijab has come to replace the term chador popularized by the Iranian revolution, as a properly Arabic (hence Koranic) designation. This discursive shift points to the successful reclaiming of the national revolution in Iran by a transnational pan-Islamic movement, whose language of reference can only be Koranic Arabic.(14) While the hijab is certainly a point of contention within various countries dealing with immigrant Islamic populations (of which France has the largest in Europe as part of its colonial legacy in Algeria), it is clear that the veil is a historically contextualized artifact of Muslim identity with a variety of manifestations, even as forces outside of and within Islam seek to codify its actual and symbolic value. Ultimately, the varieties of hijab , including the full-faced burqa and niqab , are complex assemblages of meaning that speak to the multitudinous flows of Islamic identities over time and space. As Gökariksel and McLarney observe, “Wearing a certain style of veil may simultaneously be a disciplinary practice crucial to the cultivation of piety (Mahmood 2005; Gokariksel 2009) and a gendered performance of social distinction in terms of class, taste, and urbanity (White 1999; Navaro-Yashin 2002; Gokariksel and Secor 2009) or of ethnicity and race (Dwyer 1999).”(15) The ideological marketplace from which the varieties of hijab ebb and flow serves both as a reflection of the ever-present materiality and dynamic functionality of spiritual economies, which are derivative of the equally ubiquitous flows of transnational capital driving agency and representationality within our historical moment. Keeping these dual, yet deeply interconnected, capital ecologies as the site of exploration for how the veil is represented within public space, one might begin to sense what lurks behind such veiled agendas. Examining the symbolic and representational nature of the Islamic “veil” in its various forms, this project situates the decidedly political contestations of public space at stake in the French ban alongside recent condemnations of multiculturalism as calculated efforts to re-distribute the sensible so as to valorize national identity within increasingly transnational and globalized socio-economic spaces, which collapse exchange values between distinct, yet interwoven, economies of (cultural/material/spiritual) capital. As the discourses on the veil rely upon representational imag(in)ings, it seems fitting to explore the political economy and art of the veil through the phenomenon of street art, which, much like hijab , is a complex assemblage of meaning of sensation mired in representationality and capital exchange. As street artists have taken up hijab in various forms, the movement offers a lens with which to situate critical responses to the veil debate across both spiritual and material economies. Situating this street art both aesthetically and historically, Lewisohn explains, “'Street art' is a sub-genre of graffiti writing and owes much to its predecessor. Though there is a good deal of crossover between the genres, they are distinct and separate in their own right.”(16) Evolving out of the graffiti explosion of the late 1970's and 1980's, street art broke the unspoken rules of the artistic underground by challenging and re-examining one's sensory experience of art in public space by experimenting with both content and form in ways that harken back to the Situationist International, which as a collective challenged one's experience of urban space through various media and experiential phenomena. Again, Lewisohn observes, “It's important to note street art's break with the tradition of the tag, and its focus on visual symbols that embrace a much wider range of media than graffiti writers would use.”(17) From stencils to prints and murals to one-liners, street artists developed a reputation for critical social and political commentary, and while it is certainly the case that not all street art is intentionally political, in challenging the normative “regime of visibility,” as Rancière puts it, of public space, street artists—even if unconsciously—call into question the common sensory experience of the politics underlying the formation of (nationalist) space.(18) Indeed, Rancière refers to the partisan sensory managers as “police,” who ultimately forge “the rules governing the circulation of appearances, of their visibility and audibility, and the proper distribution of bodies therein.”(19) As such, one can sense that street art's relationship with the police is tenous for a variety of reasons. Writing about his own experience as a street artist, Shepard Fairey observes, “With street art, there's no committee deciding whether I can put my work up on the street, there's no censorship, and I have total freedom of expression, and that concept of freedom is expressed just by using the street as a medium.”(20) As Fairey and other street artists demonstrate, the medium, to paraphrase Marshall McLuhan, is the most glaring aspect of street art's message, and even as it now finds itself in galleries and usurped by private collectors, the ethos of the movement remains relavent to politics as it is, first and foremost, concerned with the configuration and experience of space. Just as examining the punishments for breaking the veil ban can map the terrain of French politics, a representational genealogy of street artist's deployment of hijab and female Muslim identity can assist in mining the depths of public space as a site of bio-political control and contestation in light of recent events in France and the rising tide of anti-multiculturalist rhetoric across Europe, even though the Islamic presence there is radically heterogenous. Using the work of Shepard Fairey, Princess Hijab, br1, and Banksy, this paper sets out to answer a number of key questions concerning the deployment of hijab, and female Islamic identity in particular, within street art as a movement now integral to and critical of the economies of exchange underlying global capitalism, which as a force of influence cannot be underestimated as a driver in the resurgence of nationalist biopolitical governmentalities. Although there exists a litany of artists to choose from, the aforementioned quartet of designers integrate hijab into their work in a seminal and critical fashion, and all have been working with the veil in some way prior to the French ban, which grants some additional context to their usage of it as a symbol in regards to the breakdown of multiculturalism across Europe, even if unconsciously. Although each artist depicts various amalgamations of hijab in their respective corpus, they share common tropes that raise significant questions concerning the veil debate, namely: what are the conditions of possibility for hijab to become a marker of Islamic identity within public space? How can we make sense of the representational topologies within street art's utilization of the hijab and female Islamic identity in light of the French ban? How might these aesthetic imag(in)ings simultaneously inhabit and combat normative discourses concerning hijab , multiculturalism, female Islamic identity, and public space? With these considerations as a backdrop, it is first necessary to outline more fully the hijab as a representative marker of female Islamic identity. The (Veiled) Writing on the Wall

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James Madison is the thinker most responsible for laying the groundwork of the American commercial republic. But he did not anticipate that the propertied class on which he relied would become extraordinarily politically powerful at the same time as its interests narrowed. This and other flaws, argues Stephen L. Elkin, have undermined the delicately balanced system he constructed. In Reconstructing the Commercial Republic , Elkin critiques the Madisonian system, revealing which of its aspects have withstood the test of time and (...) which have not. The deficiencies Elkin points out provide the starting point for his own constitutional theory of the republic—a theory that, unlike Madison’s, lays out a substantive conception of the public interest that emphasizes the power of institutions to shape our political, economic, and civic lives. Elkin argues that his theory should guide us toward building a commercial republic that is rooted in a politics of the public interest and the self-interest of the middle class. He then recommends specific reforms to create this kind of republic, asserting that Americans today can still have the lives a commercial republic is intended to promote: lives with real opportunities for economic prosperity, republican political self-government, and individual liberty. (shrink)

This book shows through argument and numerous policy-related examples how understanding moral philosophy can improve economic analysis, how moral philosophy can benefit from economists' analytical tools, and how economic analysis and moral philosophy together can inform public policy. Part I explores the idea of rationality and its connections to ethics, arguing that when they defend their formal model of rationality, most economists implicitly espouse contestable moral principles. Part II addresses the nature and measurement of welfare, utilitarianism and (...) cost-benefit analysis. Part III discusses freedom, rights, equality, and justice - moral notions that are relevant to evaluating policies, but which have played little if any role in conventional welfare economics. Finally, Part IV explores work in social choice theory and game theory that is relevant to moral decision making. Each chapter includes recommended reading and discussion questions. (shrink)

Genetic modification of trees has the potential to change our forests forever, yet there has been little publicly available information or debate on this important topic. Ethical analysis of genetic modification of plants to date has been focussed mainly on food and feed crops and pharmaceutical production. The purpose of this paper is to examine one major ethical issue arising in connection with the genetic modification of trees, the necessity to examine the practice in its full scientific, social, economic, (...) political and environmental context. It is argued that if this is not done, important factors that play a role in a through ethical critique will be overlooked. The analysis focuses mainly on the Canadian situation, but there are implications for other timber-producing nations as well. The paper concludes that a thorough ethical critique must take into account the ends for which biotechnology is being pursued. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Re-examining Empirical Data on Conflicts of Interest Through the Lens of Personal NarrativesEmily E. Anderson and Elena M. KrausIntroductionThe personal stories submitted by physicians and researchers for this symposium add much–needed dimension to conversations on conflicts of interest in medicine and research. Narratives from individuals living with conflicts of interest can serve as a unique lens through which to consider psychological and economic theories and (...) survey data on physician and patient views. In our reading of these personal narratives, we identified four primary themes that will serve as springboards for our commentary. We aim to triangulate clusters of meaning drawn from the narratives with relevant data from published empirical studies and identify gaps in knowledge where more research is needed. These themes are: the unique environments of medicine and research; weighing the potential benefits of conflicts of interest against the risks; conflict of interest management; and the roles and responsibilities of diverse stakeholder groups.The Unique Challenges of the Medical and Research EnvironmentsThe reflections of the narrative authors draw attention to many of the unique environmental aspects of medicine and medical research that make physicians and researchers especially vulnerable to conflicts of interest. Conflicts of interest may be more ubiquitous in medicine than in any other industry (Kassirer, 2006). As the narratives demonstrate, conflicts of interest emerge across a range of health care delivery and research activities. Surveys have shown that 94 percent of physicians have some kind of relationship with industry (Campbell, Gruen, Mountford, et al., 2007). There is also evidence that physician interactions with medical industry begin early and are a regular part of a physician’s professional practice along the career continuum (Wazana, 2000).Medicine as a profession is distinct from banking or law. It is often said that medicine is an art; in treating patients, creative individualized solutions and gut instinct are as (if not more) important than the application of scientific knowledge. Uncertainty surrounds medical decision making. There is limited precision with respect to diagnoses and prognoses, limited data regarding the effectiveness of many treatments, and a range of patient values and preferences. Because of this uncertainty, rules about practice standards, especially with respect to avoidance and management of conflicts of interest, cannot be as explicit as they are in law or business. As demonstrated by the story presented by Sal Cruz–Flores, research and practice often intersect. And, there is no system in greater need of reform—and no system about which there are more divergent opinions as to what shape that reform should take—than the United States health care [End Page 91] system. The narratives of Tony Mikulec, Govind Nagaldinne, and David M. Zientek demonstrate how various aspects of the structure of healthcare service provision and third–party payer arrangements have the potential to harm patients. Conflicts of interest comprise more than relationships with pharmaceutical and medical device manufacturers.The narratives of Laura Jean Bierut and David M. Zientek also discuss examples of conflicts of interest that arise from factors beyond relationships with industry or the direct potential for financial gain. This may be somewhat unique to the medical milieu. Non-financial conflicts such as a desire for the prestige bestowed upon scientists who make key discoveries, a requirement to publish for tenure and promotion, the need to maintain one’s license or other privileges, or simply the pressure of a competitive environment can influence physician and researcher behavior. As noted by Bierut, more research on how to identify and manage non-financial conflicts is needed.The Potential Benefits and Harms of Conflicts of InterestConflicts of interest are usually presented in a negative light, particularly those that involve physician relationships with the pharmaceutical industry. To “have a conflict of interest” is to be in a situation or role where there is potential for personal interests to be prioritized over professional responsibilities. However, in terms of public perception, it seems that conflicts of interest have become almost synonymous with wrongdoing. Perhaps this is due to the barrage of media reports during the last decade on significant harms caused by financial conflicts of interest in business, journalism, and sports as well as in medicine (Steinbrook, 2004). Amidst... (shrink)

Self-Interest before Adam Smith inquires into the foundations of economic theory. It is generally assumed that the birth of modern economic science, marked by the publication of The Wealth of Nations in 1776, was the triumph of the 'selfish hypothesis'. Yet, as a neo-Epicurean idea, this hypothesis had been a matter of controversy for over a century and Smith opposed it from a neo-Stoic point of view. But how can the Epicurean principles of orthodox economic theory (...) be reconciled with the Stoic principles of Adam Smith's philosophy? Pierre Force shows how Smith's theory refutes the 'selfish hypothesis' and integrates it at the same time. He also explains how Smith appropriated Rousseau's 'republican' critique of modern commercial society, and makes the case that the autonomy of economic science is an unintended consequence of Smith's 'republican' principles. (shrink)

We report an experiment on two treatments of an ultimatum minigame. In one treatment, responders’ reactions are hidden to proposers. We observe high rejection rates reflecting responders’ intrinsic resistance to unfairness. In the second treatment, proposers are informed, allowing for dynamic effects over eight rounds of play. The higher rejection rates can be attributed to responders’ provision of a public good: Punishment creates a group reputation for being “tough” and effectively “educate” proposers. Since rejection rates with informed proposers drop (...) to the level of the treatment with non-informed proposers, the hypothesis of responder’s enjoyment of overt punishment is not supported. (shrink)

Han Fei was a central figure in Chinese Legalism, which was a leading school of thought in the Warring States period of China, and which left a huge imprint on political culture in imperial China. This article examines the complex duality of public and private interests in Han Fei’s political thought, a crucial aspect of his thinking. I argue that Han Fei adopted a sophisticated statist approach to understanding public and private interests. For Han Fei, public interests (...) are embodied in the state while private ones have dual functions. On the one hand, private interests threaten public ones by inviting corrupt material interests, personal morality, and knowledge, as well as human relationships. On the other hand, self-centered human psychology plays a dialectic role in strengthening the state. (shrink)