Religion inspires honesty. The love of money incites dishonesty. Religious and monetary values apply to all religions. We develop a formative theoretical model of monetary wisdom, treat religiosity (God) and the love of money (mammon), as two yoked antecedents—competing moral issues (Time 1), and frame the latent construct in good barrels (performance or humane contexts, Time 2), which leads to (dis)honesty (Time 3). We explore the direct and indirect paths and the model across genders. Our three-wave panel (...) data (411 participants) show that religious and monetary values are negatively correlated. Directly, religiosity consistently curbs dishonesty; surprisingly, the love of money has no impact on dishonesty. In the performance context, the two mediation effects reduce dishonesty. Across genders, this mediation effect is nonsignificant for males but significantly excites females' honesty. In the humane context, the two mediation effects are nonsignificant. Across genders, for the love of money, males passively curb dishonesty by omission, and females actively engage in honesty by commission. Decision-makers must challenge people's moral issues, frame them in good barrels, and help people become good apples, choice architects, and moral and ethical decision-makers, promoting the Matthew effect in religion. We offer practical implications to individuals and organizations. (shrink)

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

Robert King Merton’s article published in Science popularized the Matthew Effect: “For to everyone who has, more will be given and he will grow rich; but from the one who has not, even what he has will be taken away”. The Matthew Effect prevails at the individual, organization-industry, and country-global levels. This interdisciplinary review connects the Holy Bible with agency theory, tournament theory, corporate social responsibility, prospect theory, behavioral economics, the psychology of money, and business ethics in the literature. I (...) expand the Matthew Effect, incorporate prospect theory and the love of money, and develop a multi-level theory of the Matthew Effect in Monetary Wisdoms: Individual decision-makers apply their deep-rooted values as a lens, frame the critical concerns in the immediate and omnibus contexts, and maximize expected utility and ultimate serenity-happiness across people, context, and time at the individual, organization-industry, and country-global levels. The rich serve God, enjoying the ultimate joy and happiness. The poor serve mammon, destroying their lives. The rich get richer. The poor get poorer. Scholars of business ethics and CSR must explore this phenomenon in future studies. (shrink)

Slight absolute changes in the Shanghai Stock Exchange Index (SHSE) corresponded to the city’s immediate increases in coronary heart disease deaths and stroke deaths. Significant fluctuations in the Shenzhen Stock Exchange Index (SZSE) corresponded to the country’s minor, delayed death rates. Investors deal with money, greed, stock volatility, and risky decision-making. Happy people live longer and better. We ask the following question: Who are the investors with the highest and most sustainable stock happiness, and why? Monetary wisdom asserts: (...) Investors apply their deep-rooted values (avaricious love-of-money aspiration and locus of control, Level 2) as a lens to frame critical concerns in the proximal-immediate (Shanghai Stock Exchange Index changes, Level 1) and the omnibus-distal contexts (domicile: city vs. country, Level 2) to maximize expected utility (portfolio changes, Level 1) and ultimate serenity (stock happiness, Level 1). We collected multilevel data—the longitudinal SHSE and 227 private investors’ daily stock happiness and portfolio changes for 36 consecutive trading days in four regions of China. Investors had an average liquid asset of $76,747.41 and $54,660.85 in stocks. This study is not a “one-shot” game with “nothing at stake.” We classified Shanghai and Beijing as the city and Shenzhen and Chongqing as the country. Our cross-level 3-D visualization reveals that regardless of SHSE volatility, investors with low aspiration, external control, and country domicile enjoy the highest and most sustainable stock happiness with minimum fluctuations. Independently, investors with low aspiration, external control, and country domicile tend to make fewer portfolio changes than their counterparts. Behaviorally, less is more, debunking the myth—risky decisions excite stock happiness. Our longitudinal study expands prospect theory, incorporates attitude toward money, and makes robust contributions to behavioral economics and business ethics. We help investors and ordinary citizens make happy, healthy, and wealthy decisions. Most importantly, the life you save may be your own. (shrink)

Mindfulness—the awareness of the present moment and experiences in daily life—contributes to genuine intrinsic and social-oriented values and curbs materialistic and hedonistic values. In the context of materialism, money is power. Avaricious individuals take risks and are likely to engage in dishonesty. Very little research has investigated the effects of mindfulness in reducing the avaricious monetary attitudes and enhancing ethical consumer beliefs. In this study, we theorize that mindfulness improves consumer ethics directly and indirectly by lowering avaricious monetary (...) attitudes. To test our theory, we collected data from 523 individuals with the Mindfulness-Based Stress Reduction training and 307 individuals without MBSR. The results of our whole sample support our theory. Three multiple-group confirmatory factor analyses reveal intriguing discoveries. First, with MBSR training, mindfulness excites consumer ethical beliefs directly and indirectly. Without training, trait mindfulness fails to reduce monetary attitudes—mindfulness training matters. Second, the power of MBSR training holds for participants completing the training within 1 year, but wears off after 1 year—the duration after training matters. Finally, after 1 year, the training retains its strength for those who practice mindfulness, but weakens its power for those who do not—practice matters. We shed light on mindfulness, monetary wisdom, and consumer ethics, in particular, and business ethics, in general. (shrink)

Professor Wisdom gives an elementary introduction to the applications in philosophy of the analytical method. He believes that the aim of analysis is clarity, whereas the aim of speculative philosophy is truth. After a brief introduction on what analysis is, he discusses the relation of body and mind and seeks for causal relations between mental and material events. He concludes this section with a chapter on Free will, before turning to perception and the external world.

Gasking, D. A. T. The philosophy of John Wisdom.--Thomson, J. J. Moore's technique revisited.--Yalden-Thomson, D. C. The Virginia lectures.--Dilman, I. Paradoxes and discoveries.--Ayers, M. R. Reason and psycholinguistics.--Roberts, G. W. Incorrigibility, behaviourism and predictionism.--Hinton, J. M. "This is visual sensation."--Gunderson, K. The texture of mentality.--Newell, R. W. John Wisdom and the problem of other minds.--Lyon, A. The relevance of Wisdom's work for the philosophy of science.--Morris, H. Shared guilt.--Bambrough, R. Literature and philosophy.--Chronological list of published writings of (...) John Wisdom, 1928-1972 (p. [293]-300). (shrink)

When making decisions, humans can observe many kinds of information about others' activities, but their effects on performance are not well understood. We investigated social learning strategies using a simple problem-solving task in which participants search a complex space, and each can view and imitate others' solutions. Results showed that participants combined multiple sources of information to guide learning, including payoffs of peers' solutions, popularity of solution elements among peers, similarity of peers' solutions to their own, and relative payoffs from (...) individual exploration. Furthermore, performance was positively associated with imitation rates at both the individual and group levels. When peers' payoffs were hidden, popularity and similarity biases reversed, participants searched more broadly and randomly, and both quality and equity of exploration suffered. We conclude that when peers' solutions can be effectively compared, imitation does not simply permit scrounging, but it can also facilitate propagation of good solutions for further cumulative exploration. (shrink)

This book is based on previously unpublished lectures that Wisdom delivered at the University of Virginia. Its content goes significantly beyond that of his other books. Here he is concerned with how misunderstandings about what it is to prove something or what it is to explain something can infect our thinking in many different fields.

A common line of thought in contemporary metaethics is that certain facts about the evolutionary history of humans make moral realism implausible. Two of the most developed evolutionary cases against realism are found in the works of Richard Joyce and Sharon Street. In what follows, I argue that a form of moral realism that I call proper-function moral realism can meet Joyce and Street's challenges. I begin by sketching the basics of proper-function moral realism. I then present what I take (...) to be the essence of Street's and Joyce's objections, and I show how proper-function realism answers them. (shrink)

The current study sought to assess the mediating role of green market orientation dimensions in the relationship between social risk and new product performance among European Multinational Enterprises (EMNEs). We also assessed the moderating role of entrepreneurial orientation in the relationship between green market orientation and new product performance. The study was based on primary data gathered from 317 EMNEs in Ghana. After various validity and reliability checks, ordinary least squares (OLS) analysis was performed to estimate the various relationships hypothesized (...) in the study. The study finds that social risk has a negative effect on the success of EMNEs' new products. This negative effect is however nullified by the positive mediating effects of strategic green market orientation, tactical green market orientation and internal green market orientation. Entrepreneurial orientation also played a significant moderating effect in the relationship between green market orientation dimensions and EMNEs' new product performance. Based on this, theoretical and managerial contributions were made. (shrink)

Originally published in 1952. This book is a critical survey of the views of scientific inference that have been developed since the end of World War I. It contains some detailed exposition of ideas – notably of Keynes – that were cryptically put forward, often quoted, but nowhere explained. Part I discusses and illustrates the method of hypothesis. Part II concerns induction. Part III considers aspects of the theory of probability that seem to bear on the problem of induction and (...) Part IV outlines the shape of this problem and its solution take if transformed by the present approach. (shrink)

Nearly 30 years ago, Terry Horgan and Mark Timmons published a now- popular article that combines Hilary Putnam’s Twin Earth scenario with G.E. Moore’s open question argument in an effort to show that moral naturalism – the view that moral facts are at bottom ordinary, natural facts of some sort – is probably false. Responses to Horgan and Timmons’s “revised open question argument” have been legion, but surprisingly, no one has attempted to test the core assumption upon which the argument (...) is based; namely, that competent language users univocally treat natural kind-terms as rigid designators. Here, I present evidence that the intuitions of competent English speakers are not as univocal as Horgan and Timmons need them to be to ground their argument against moral naturalism. I also briefly sketch a way that the moral naturalist can respond even if competent language speakers do treat natural-kind terms in the way that Horgan and Timmons suggest. (shrink)

1. ‘How do we know the material world?’, ‘What is it to know the material world?’, ‘In what ways is knowledge of the material world like and in what ways is it unlike other sorts of knowledge?’ We know how we know the material world and what it is to know the material world and in what ways such knowledge is like and unlike other sorts of knowledge. But a man who knows what poetry is like and how it is (...) like and unlike prose may ask ‘What is poetry?’, and a mathematician who knows what it is like to do mathematics may ask ‘What is mathematics?’ It is in a rather like way that we ask ‘What is knowledge of the material world?’ The ways in which knowledge of the material world is like and unlike other sorts of knowledge are familiar to us but we wish for a still better grasp of these likenesses and unlikenesses. (shrink)

Conflicting Systems in the History of Philosophy. Hegel's logic consists, as is well known, in a chain of categories, connected by a relation of dialectic, which proceeded from the featureless Being, Nothing, and Becoming through more important ones such as Substance, Cause, and Reciprocity to the highest category of all, the Absolute Idea. Now Hegel also pointed to an interesting correlation between the categories of his logic and the dominant concepts of those philosophies that preceded his own: that is to (...) say, the logical order of categories given by him corresponded to the temporal order of the history of philosophy. Such connexion was not, however, to be regarded as an accident but as a necessary truth: for the Absolute manifested itself temporally in the form of the history of philosophy. Seeing that this contention probably contains some psychological truth and is probably assumed in Marxian interpretations of Hegel, it may be of some interest to see how far it can be substantiated. (shrink)

Nearly 30 years ago, Terry Horgan and Mark Timmons published a now- popular article that combines Hilary Putnam’s Twin Earth scenario with G.E. Moore’s open question argument in an effort to show that moral naturalism – the view that moral facts are at bottom ordinary, natural facts of some sort – is probably false. Responses to Horgan and Timmons’s “revised open question argument” have been legion, but surprisingly, no one has attempted to test the core assumption upon which the argument (...) is based; namely, that competent language users univocally treat natural kind-terms as rigid designators. Here, I present evidence that the intuitions of competent English speakers are not as univocal as Horgan and Timmons need them to be to ground their argument against moral naturalism. I also briefly sketch a way that the moral naturalist can respond even if competent language speakers do treat natural-kind terms in the way that Horgan and Timmons suggest. (shrink)

Instrumentalism is an approach to science that treats a theory as a tool and only as a tool for computation; it dispenses with the concept of truth.Conventionalism treats a theory as true by convention if it forms a pattern of observations from which correct predictions can be made.Operationalism denies meaning to the concepts of a theory unless they can be defined operationally. It is argued in this paper that truth-value is indispensable to science, because a theory can be rejected only (...) if an empirical consequence is false and if falsity of a conclusion entails falsity of a premise. This undermines the above positions. The fourth interpretation isinduction. Induction, by contrast, uses the notion of truth-value. What is focused on here is its reliance on the ultimacy ofobservation. The present thesis is that instrumentalism, conventionalism, and induction are different attempts to handle observations. The common problem is the gap between data and theory.All these interpretations share a philosophy of observationalism. The aim of this paper is to show that the several orthodox interpretations of science all fail to solve the problem of the data-theory gap, and to show that they all presuppose a philosophy of observation. (shrink)