Intermediaries, such as accountants, lawyers, and bankers, are gatekeepers, which are parties whose cooperation is necessary for corporations to function and who, by withholding cooperation, are able to prevent significant corporate misconduct. The recent scandals at Enron and other corporations were due, in part, to failures by gatekeeper institutions. However, intermediaries exist primarily to provide for-fee services and not specifically to detect and deter misconduct. Insofar asthese institutions are gatekeepers or guardians, they serve reluctantly. Hence the question: What is the (...) responsibility of intermediaries to act as gatekeepers? This article argues that the appropriate moral, as well as legal, principle for justifying responsibility in a gatekeeper role is cost effectiveness. This conclusion is reached by means of a hypothetical exercise called the investors’ bargain in which investors—who bear the costs and receive the benefits of intermediaries’ gatekeeper role—are asked to choose the best means of protecting their interests. (shrink)

Ethics in the world of business -- Welfare, rights, and justice -- Equality, liberty, and virtue -- Whistle-blowing -- Trade secrets and conflict of interest -- Privacy -- Discrimination and affirmative action -- Employment rights -- Occupational health and safety -- Marketing, advertising, and product safety -- Ethics in finance -- Corporate social responsibility -- Corporate governance and accountability -- International business ethics.

ABSTRACT:Intermediaries, such as accountants, lawyers, and bankers, are gatekeepers, which are parties whose cooperation is necessary for corporations to function and who, by withholding cooperation, are able to prevent significant corporate misconduct. The recent scandals at Enron and other corporations were due, in part, to failures by gatekeeper institutions. However, intermediaries exist primarily to provide for-fee services and not specifically to detect and deter misconduct. Insofar as these institutions are gatekeepers or guardians, they serve reluctantly. Hence the question: What is (...) the responsibility of intermediaries to act as gatekeepers? This article argues that the appropriate moral, as well as legal, principle for justifying responsibility in a gatekeeper role is cost effectiveness. This conclusion is reached by means of a hypothetical exercise called the investors’ bargain in which investors—who bear the costs and receive the benefits of intermediaries’ gatekeeper role—are asked to choose the best means of protecting their interests. (shrink)

Winner of the Los Angeles Times Book Prize With a new preface by the author In his most powerful and important book, renowned psychiatrist Robert Jay Lifton presents a brilliant analysis of the crucial role that German doctors played in the Nazi genocide. Now updated with a new preface, The Nazi Doctors remains the definitive work on the Nazi medical atrocities, a chilling exposé of the banality of evil at its epitome, and a sobering reminder of the darkest side (...) of human nature. (shrink)

This paper offers an overview of "the species problem", arguing for a view of species as homeostatic property cluster kinds, positioning the resulting form of realism about species as an alternative to the claim that species are individuals and pluralistic views of species. It draws on taxonomic practice in the neurosciences, especially of neural crest cells and retinal ganglion cells, to motivate both the rejection of the species-as-individuals thesis and species pluralism.

Drawing on a passage from Ramsey's Truth and Probability, we formulate a simple, plausible constraint on evaluating the accuracy of credences: the Calibration Test. We show that any additive, continuous accuracy measure that passes the Calibration Test will be strictly proper. Strictly proper accuracy measures are known to support the touchstone results of accuracy-first epistemology, for example vindications of probabilism and conditionalization. We show that our use of Calibration is an improvement on previous such appeals by showing how it answers (...) or sidesteps problems that have been raised for previous work in this area. (shrink)

John R. Boatright, editor of this volume, draws together the contributions of distinguished scholars from a wide range of disciplines--including finance, ...

The thirty chapters work through various fundamental metaphysical issues, sometimes focusing more on scholastic thought, sometimes on the seventeenth century.

Are interpersonal comparisons of desire possible? Can we give an account of how facts about desires are grounded, that underpins such comparisons? This paper supposes the answer to the first question is yes, and provides an account of the nature of desire that explains how this is so. The account is a modification of the interpretationist metaphysics of representation that the author has recently been developing. The modification is to allow phenomenological affective valence into the “base facts” on which correct (...) interpretation is grounded. To use this extra resource within that theory to vindicate interpersonal comparisons, we will need to appeal rational connections between level of valence and level of desire, which this paper sets out and examines. (shrink)

This second edition of the ground-breaking Ethics in Finance is an up-to-date, valuable addition to the emerging field of finance ethics. Citing examples of the scandals that have shaken public confidence in Wall Street, John R. Boatright explains the importance of ethics in the operation of financial markets and institutions and in the conduct of finance professionals." "Focusing on standards of fairness in market transactions and the duties of fiduciaries and agents in financial relationships, the author introduces a broad (...) range of practical issues related to financial markets, the financial services industry, investment decision making, and corporate financial management. In addition to the topics considered in the first edition, including unethical sales practices, insider trading, the abuse of bankruptcy, and hostile takeovers, the second edition of Ethics in Finance has a broadened scope, incorporating new discussions of issues in mutual funds, conflict of interest, and the financial theory of the firm." "This timely and comprehensive book provides an analysis of ethical issues in finance, suitable for students of finance and business ethics as well as anyone involved in financial activities."--Jacket. (shrink)

The claim that managers have a fiduciary duty to shareholders to run the corporation in their interests is generally supported by two arguments: that shareholders are owners of a corporation and that they have a contract or agency relation with management. The latter argument is used by Kenneth E. Goodpaster, who rejects a multi-fiduciary, stakeholder approach on the grounds that the shareholder-management relation is “ethically different” because of its fiduciary character. Both of these arguments provide an inadequate basis for the (...) fiduciary duties of officers and directors of corporations. The basis is to be found, rather, in considerations of public policy, a point that was established in the Dodd-Berle exchange of the 1930s. This conclusion also shows the inadequacy of Goodpaster’s solution to the so-called stakeholder paradox, and an alternative solution to the paradox is presented. (shrink)

The claim that managers have a fiduciary duty to shareholders to run the corporation in their interests is generally supported by two arguments: that shareholders are owners of a corporation and that they have a contract or agency relation with management. The latter argument is used by Kenneth E. Goodpaster, who rejects a multi-fiduciary, stakeholder approach on the grounds that the shareholder-management relation is “ethically different” because of its fiduciary character. Both of these arguments provide an inadequate basis for the (...) fiduciary duties of officers and directors of corporations. The basis is to be found, rather, in considerations of public policy, a point that was established in the Dodd-Berle exchange of the 1930s. This conclusion also shows the inadequacy of Goodpaster’s solution to the so-called stakeholder paradox, and an alternative solution to the paradox is presented. (shrink)

The paper offers an analysis of Protagoras’ fr. DK 80 B 1 and rejects the traditional reading of Protagoras as relativist. By considering the ipsissima verba that Protagoras makes use of in his passage, it is argued that alternative interpretations are possible, of which epistemological reism and psychological individualism are proposed. On a more general level, it is discussed to what extent Protagoras’ fragment contains descriptive rather than normative claim.

In the good old days, when general philosophy of science ruled the Earth, a simple division was often invoked to talk about philosophical issues specific to particular kinds of science: that between the natural sciences and the social sciences. Over the last 20 years, philosophical studies shaped around this dichotomy have given way to those organized by more fine-grained categories, corresponding to specific disciplines, as the literatures on the philosophy of physics, biology, economics and psychology--to take the most prominent four (...) examples--have blossomed. In general terms, work in each of these areas has become increasingly enmeshed with that in the corresponding science itself, increasingly naturalistic (in at least one sense of that term), and in my view, increasingly interesting. (shrink)

If the world itself is metaphysically indeterminate in a specified respect, what follows? In this paper, we develop a theory of metaphysical indeterminacy answering this question.

This presidential address to the Society for Business Ethics argues that business ethics rests upon the mistaken assumption thatteaching and research in the field ought to aim at the incorporation of ethics into managerial decision making. An alternative to this Moral Manager Model is a Moral Market Model, in which the aim is to develop markets that produce ethical outcomes. The differencesbetween the two models are discussed with reference to the themes of responsibility, participation, and relationships.

In the 1990s, the role of the chief executive officer (CEO) of major United States corporations underwent a profound transformation in which CEOs went from being bureaucrats or technocrats to shareholder partisans who acted more like proprietors or entrepreneurs. This transformation occurred in response to changes in the competitive environment of U.S. corporations and also to the agency theory argument that high levels of compensation by means of stock options helped to overcome the agency problem inherent in the separation of (...) ownership and control. Some critics charge that this new CEO role is objectionable for a variety of reasons, which may also be applicable to the current financial crisis in which CEO misconduct may have played a part. These objections are based largelyon a team production model of corporate governance, which is held by these critics to be superior to the standard agent-principal model. This article examines the objections offered by critics of the changed role of the CEO and argues that their negative assessment of this development and their use of the team production model to support their conclusions are not warranted. CEOs have changed from hired hands to co-owners, and this change may have contributed in some measure to the current financial crisis. However, in determining the morally preferable role of the CEO, care must be taken not to discard what is sound in the changed role. (shrink)

The general concept of a trope – that of a non-shareable character-grounder – admits of a distinction between modifier tropes and module tropes. Roughly, a module trope is self-exemplifying whereas a modifier trope is not. This distinction has wide-ranging implications. Modifier tropes are uniquely eligible to be powers and fundamental determinables, whereas module tropes are uniquely eligible to play a direct role in perception and causation. Moreover, each type of trope theory faces unique challenges concerning character- grounding. Modifier trope theory (...) faces challenges concerning the inscrutability of predication and the incompatibility with bundle theory, whereas module trope theory faces challenges concerning character overdetermination and a collapse into austere nominalism. These differences indicate that the modifier/module distinction divides the advantages of general trope theory and thus presents the trope theorist with a pivotal choice. (shrink)

My aim is to propose affectivity as a criterion for personal identity. My proposal is to be taken in its weak version: affectivity as _only one_ of the criteria for personal identity. I start by arguing for affectivity being a better candidate as a criterion for personal identity than thinking. Next, I focus on synchronic vs. diachronic and on ontic vs. epistemic distinctions (my proposal will concern diachronic ontic personal identity) and consider the realm of affectivity in its temporal dimension. (...) In my argument, I rely on the genuineness of affectivity and I exploit chiefly long- or everlasting feelings (or emotions) and those which involve the feeling subject more rather than less. I conclude by stating that genuine long-lasting feelings (or emotions) are constitutive of diachronic ontic personal identity. (shrink)

In this paper I explore Michael Loux’s important distinction between “tropes” and “tropers”. First, I argue that the distinction throws into relief an ambiguity and discrepancy in the literature, revealing two fundamentally different versions of trope theory. Second, I argue that the distinction brings into focus unique challenges facing each of the resulting trope theories, thus calling into question an alleged advantage of trope theory—that by uniquely occupying the middle ground between its rivals, trope theory is able to recover and (...) preserve the insights of these views. Ultimately, the distinction suggests that trope theory is a divided house. (shrink)

Se resume en esta obra el vasto y complejo sistema teórico-jurídico de Hans Kelsen, el jurista más grande de nuestro siglo. La doctrina de Kelsen y en particular su Teoría Pura del Derecho han conocido muchas vicisitudes y ataques debidos más a prejuicios políticos y racistas que a una verdadera confrontación con sus tesis. El autor enfatiza en el hecho de que la doctrina jurídica de Kelsen no es una teoría terminada y archivada sino en permanente desarrollo, una teoría a (...) cuya ulterior construcción están convocados todos los juristas. (shrink)

This chapter contains sections titled: Financial markets Financial services Financial management.

Employee governance, which includes employee ownership and employee participation in decision making, is regarded by manyas morally preferable to control of corporations by shareholders. However, employee governance is rare in advanced market economies due to its relative inefficiency compared with shareholder governance. Given this inefficiency, should employee governance be given up as an impractical ideal? This article contends that the debate over this question is hampered by an inadequate conception of employee governance that fails to take into account the difference (...) between employees and shareholders. It offers a different, more adequate conception of employee governance that recognizes a sense in which employees currently have some ownership rights. The argument for this conception of employee governance is built on an expanded understanding of the ownership of a firm. The article also suggests new strategies for strengthening the role of employees in corporate governance. (shrink)

In addressing the theme of this special issue of Business Ethics Quarterly on business ethics in the new millennium, I want to focusnot on business ethics as an academic field of study but rather on ethics in business. By ethics in business I mean the standards for ethical conduct that are generally recognized in business and the ways in which these standards are established. Ethics in business in this sense is, at least in part, what the field of business ethics (...) studies. (shrink)

A common compatibilist view says that we are free and morally responsible in virtue of the ability to respond aptly to reasons. Many hold a version of this view despite disagreement about whether free will requires the ability to do otherwise. The canonical version of this view is reductive. It reduces the pertinent ability to a set of modal properties that are more obviously compatible with determinism, like dispositions. I argue that this and any reductive view of abilities faces a (...) significant challenge: it cannot adequately explain the freedom-grounding element of this ability. The problem has the form of a dilemma. This leaves reasons-responsive compatibilists with two options: abandon theories of free will grounded in abilities or abandon reductive theories of abilities. (shrink)

El profesor Robert Walter, el más eminente representante de la Teoría Pura del Derecho en nuestro tiempo, estudia en "Hans Kelsen, la Teoría Pura del Derecho y el problema de la justicia" y "Normas y enunciados sobre normas", los dos textos que componen esta obra, los puntos centrales del pensamiento filosófico y jurídico de Hans Kelsen.

Initiated by Robert Wesson, _Evolution and Human Values_ is a collection of newly written essays designed to bring interdisciplinary insight to that area of thought where human evolution intersects with human values. The disciplines brought to bear on the subject are diverse - philosophy, psychiatry, behavioral science, biology, anthropology, psychology, biochemistry, and sociology. Yet, as organized by co-editor Patricia A. Williams, the volume falls coherently into three related sections. Entitled Evolutionary Ethics, the first section brings contemporary research to an (...) area first explored by Herbert Spencer. Evolutionary ethics looks to the theory of evolution by natural selection to find values for human living. The second section, Evolved Ethics, discusses the evolution of language and religion and their impact on moral thought and feeling. Evolved ethics was partly Charles Darwin's subject in _The Descent of Man._ The last section bears the title Scientific Ethics. A nascent field, scientific ethics asks about the evolution of human nature and the implications of that nature for ethical theory and social policy. Together, the essays collected here provide important contemporary insights into what it is - and what it may be - to be human. (shrink)

"Among the foremost Catholic philosophers of his generation. He has utilized the fullness of the Catholic intellectual tradition to brilliantly take the measure of modern philosophical thought... This volume is an expression of Robert Wood's singular philosophical outlook." -Jude Dougherty, dean emeritus, school of philosophy, The Catholic University of America.

Doing Greek Philosophy conveys a vivid sense of dynamism and continuity of the Greek philosophical tradition and illustrates how interaction between Greek philosophers creates and sustains that tradition. It concentrates on a set of inter-related challenges and problems that emerged early in the tradition and moves on to the subsequent reactions to them.

Der Wandel der kulturellen Verhältnisse führt zu einer Zuspitzung des Verhältnisses von Gesellschaft und Rechtssystem. In diesem Prozess gestaltet New Political Ecology (NPE) Umwelt und Rechtssystem und ist zugleich evolutiv ausgerichtet. NPE erfährt Evolution in der Zeit als Überfluss und in eigenartiger Vernetzung als knappes Gut. Diese Verbindung basiert auf Zusammenhängen, die bisher noch nicht systematisch bearbeitet worden sind. Dabei geht es ganz wesentlich auch um das Verhältnis von Staat und moderner Risikogesellschaft. Wissenschaftlicher Fortschritt erweist sich vor diesem Hintergrund selbst (...) als ein evolutiver Prozess. (shrink)