Dozens of countries have established Sovereign Wealth Funds (SWFs) in the last decade or so, in the majority of cases employing those funds to manage the large revenues gained from selling resources such as oil and gas on a tide of rapidly rising commodity prices. These funds have raised a series of ethical questions, including just how the money contained in such funds should eventually be spent. This article engages with that question, and specifically (...) seeks to connect debates on SWFs with debates onglobaljustice. Just how good are national claims to the great wealth contained in SWFs in the first place? Using the example of Norway's very large SWF – derived from selling North-Sea petroleum – I show that national claims are at least sometimes very weak, with the implication that the wealth in many such funds is ripe for redistribution in the interests of global justice. I conclude by offering some guidance for how the money contained in such funds could best be spent, with the goal of advancing global justice. (shrink)

In this paper I give some reasons why ‘saving for future generations’ is not as straightforward as it sounds and when we might be skeptical of the permissibility of states saving for future citizens, even though such savings are often seen to be morally praiseworthy. I emerge with an account of when state savings for future citizens through sovereign wealth funds may be morally permissible. I argue that we ought to follow a modified version of Armstrong’s criteria (...) for the moral permissibility of sovereign wealth fund savings. That is, states are entitled to the full proceeds from the sale of a natural resource until their citizens’ basic rights are secured. Once they are, states are entitled only to the improved value of the resource, so long as they have not excluded others from the opportunity also to improve the resource. States may create sovereign wealth funds based on this improved value and, due to justified compatriot partiality, may choose to distribute those funds to current or future members of the state, even if non-citizens may be worse off and/or in greater need. Any residual value of the resource extraction must be redistributed globally. (shrink)

Business Ethics: A European Review, EarlyView.

Reasons for the rapid appearance and growth of SWFs is contributed by increase in oil prices and the accumulation of large balance-of-payments surpluses. Purpose of the article is to investigate size of observed Sovereign Wealth Funds in 2013. Moreover, to describe what explain differences in the size of SWFs, on the other hand what determines the amount of foreign exchange reserves. Is the size of observed funds closely related to rate of growth of the countries? Is (...) return of observed funds is closely related to fund value bn USD, GDP growth and inflation rate of the country? Methodology/methods deployed in this paper has been done illustrations by using available data from official websites of funds, Sovereign Wealth Fund Institute, International Monetary Fund, CIA The World Factbook and author’s calculations due the fact that most of funds do not provide data to the public. In addition to this, we present the estimations by using regression analysis, transferring observed data using the least squares method, The two-sample t-test for mean value, ANOVA, TINV. Scientific aim is to examine whether AUM of SWFs, moreover the size of 14 observed funds is closely related to rate of growth of the countries at 90 percent of probability. Second, if return of 14 observed funds is closely related to fund value bn USD, GDP growth and inflation rate of the country at 95 percent of probability. Third, if there are significant differences between return in 2010 and 2013. Findings indicates that paper came to the conclusion that the return of 14 observed funds is closely related to fund value bn USD, GDP growth and inflation rate of the country at 95 percent of probability. Furthermore, there are significant differences between return in 2010 and 2013. Conclusions pointed out that the influence of SWFs has become undeniable, with total assets topping 6,585tn USD in June 2014, these investors have reached a size comparable to that of the entire alternative assets industry. (shrink)

Sovereign Wealth Funds have attracted significant attention over the past few years, as a result of their increasing role in the global economy and their controversial minority investments in distressed financial and infrastructure companies in Western economies. Although SWFs provide important benefits to home, host and global markets, they have been perceived by the Western mind as a growing threat to economic supremacy and national security. While the current legal scholarship provides an incomplete policy response, by either (...) selectively referring to specific legal instruments within the international law framework or proposing an entirely new legal regime, this Article attempts to address this crucial lacuna by providing an original and comprehensive legal analysis of the SWF phenomenon and its interaction with the preexisting framework of international law. The various abovementioned concerns have prompted various Western attempts to block SWF cross-border investments through legislative reforms or ad hoc protectionism of the executive branch. These governmental policies frequently violate international commitments in the international economic law arena and call for a closer look at the nature of such commitments and their respective implementation in the SWF environment. The Article looks at recent practices in Western countries aimed at blocking SWF investments, especially in the context of iconic brands and national champions. It then reviews various relevant provisions in international legal instruments, which are applicable to these potential investments, and examines the question of their violation by capital-importing countries. A proposed innovative adaptation to this new reality is provided. I argue that the existing framework of international investment law can provide adequate solutions to investment protectionism against SWFs. Regarding regulation of SWFs’ investments, since recent experience has underlined that SWFs function largely like any other commercial entities, there is a need to shift the discussion and terminology towards regulation of sovereign activity rather than sovereign funds. Finally, the Article explores the broad consequences of investment law and corporate governance reforms following the debate around SWF investments on maintaining healthy and productive cross-border economic relations in a globalized world. (shrink)

The Norwegian state-owned Petroleum Fund's market value is more than one trillion US dollars, and the Norwegian state has become one of the world's largest stockowners. The Fund was established in 1990 and in 2006 and renamed the 'Government Pension Fund Global', as savings for future generations. What kind of values form the basis for describing the Petroleum Fund in this way? This article shows that the idea that present generations should not empty the North Sea of oil and gas (...) without saving something for future generations has been stable since the 1970s. However, over time, the understanding of how to save has changed. More specifically experts, bureaucrats and politicians have shifted their arguments during four phases: moderation in oil extraction (1974-1983); introduction of the national wealth model (1984-1990); a financial fund for the present and the future (1991-2006); and increased income and new protests (2007-2019). These four periods show that over time the idea of weak sustainability and value commensurability have increasingly come to dominate the argumentation in public documents about the Petroleum Fund. (shrink)

The Norwegian Oil Fund (‘Government Pension Fund – Global’) is worth over NOK 10.6 trillion (USD 1.15 USD trillion)1 making it the largest sovereign wealth fund in the world (Norges Bank Investment...

As a sovereign wealth fund, the $1 trillion Norwegian Government Pension Fund-Global, which is managed by Norges Bank Investment Management on behalf of the welfare of Norway’s citizens, is supposed to be a flagship for socially responsible investments through its Council of Ethics. However, its investment in Delta Topco, the holding company of Formula 1 world championship that, through Formula One Group, brokered a deal with Russia to host a Formula 1 Grand Prix in 2014, raises the question (...) of whether the Oil Fund should enhance its due diligence processes. Although no evidence of corruption related to the race is introduced, the complex relation between financial logic and the world of sports still raises questions about the ethical solidity of the Oil Fund’s investment. Drawing upon reports of the relationship between political economy and sporting events, this paper therefore analyses, in light of the Oil Fund’s ethical guidelines, the complexities of its investment in Delta Topco. As a result, it is argued that a new set of examination methods by the Council of Ethics may be warranted. (shrink)

Sustainability as a narrative has mainstreamed, but practice is stuck in the ‘valley of death,’ with exemplary business action to internalize social and environmental externalities remaining ad hoc and small scale. Civil regulation has had significant impacts, but appears unable to act as a driver of systemic change. Addressing change at the system level requires the evolution of corporate governance away from intensive towards an extensive accountability, embedded within a ‘public fiduciary.’ Such a shift in fiduciary arrangements is needed to (...) institutionalize and leverage the growing involvement of the state in economic and industrial practice through direct enterprise ownership, the increasing importance of sovereign wealth funds and national development banks, and the significance of public-private partnerships. This re-emergence of the role of the state in economic governance will underpin the next generation of corporate responsibility, framed largely by an international political economy led by major emerging economies. (shrink)

Sustainability as a narrative has mainstreamed, but practice is stuck in the ‘valley of death,’ with exemplary business action to internalize social and environmental externalities remaining ad hoc and small scale. Civil regulation has had significant impacts, but appears unable to act as a driver of systemic change. Addressing change at the system level requires the evolution of corporate governance away from intensive towards an extensive accountability, embedded within a ‘public fiduciary.’ Such a shift in fiduciary arrangements is needed to (...) institutionalize and leverage the growing involvement of the state in economic and industrial practice through direct enterprise ownership, the increasing importance of sovereign wealth funds and national development banks, and the significance of public-private partnerships. This re-emergence of the role of the state in economic governance will underpin the next generation of corporate responsibility, framed largely by an international political economy led by major emerging economies. (shrink)

This chapter examines the role of investors, and asks whether they may be able to affect positively international public health. It is often said that most investors primarily take a short-term profit perspective. This chapter introduces the role of universal ownership by large fund managers (mutual funds, retirement funds, and sovereign wealth funds) around the world. Ethics and long-term self-interest can here work together as an engine for positive social change.

How can finance be durably democratized? In the centers of financial power in both the United States and the United Kingdom, proposals now circulate to give workers and the public more say over how flows of credit are allocated. This article examines five democratization proposals: credit union franchises, public investment banks, sovereign wealth funds, inclusive ownership funds, and bank nationalization. It considers how these plans might activate worker and public engagement in decision making about finance by (...) focusing on three modes of public participation: representative democracy, direct democracy, and deliberative minipublics. It then considers the degree to which democratization plans might be resilient to de-democratization threats from business. It argues that of the five, bank nationalization goes furthest in guarding against de-democratization threats but is still pocked with pitfalls if it relies solely on representative democracy. It argues that two criteria appear necessary for democratically durable alternatives: the active direct participation of workers and citizens and the weakening of businesses’ capacity for democratic retrenchment. (shrink)

The COVID-19 pandemic is global and affects all countries in the world. The difference in the financial impact assessment of its outbreak concerns, inter alia, the state of preparation of the public sector in the previous period. The article assumes that countries which coordinated the structure of sovereign assets and liabilities before 2020 were less exposed to the negative effects of financial risks resulting from the COVID-19 pandemic. The study uses data and methodology of the International Monetary Fund and (...) the authors’ measures dedicated to the public sector to assess the sovereign asset and liability management (SALM). As part of the results, the negative value of net worth and the national net welfare index for the studied countries, including Poland in the period before the pandemic crisis, were indicated. In addition, the level of the loans mismatch on the public balance sheet and the scale of the increase in financial risk in the first year of COVID-19 are presented. Conclusions of research make it possible to assess the impact of COVID-19 on Sovereign Asset and Liability Management. (shrink)

This work upholds the leading role of virtue in the happy life against competition from goods of fortune, such as health, beauty, wealth, and honor. "Sovereign" in the title--a translation of kurios--may mean two things: complete and dominant. White holds that complete virtue, and more especially the activity in accordance with it, is dominant in Aristotle's version of the happy life.

In lieu of an abstract, here is a brief excerpt of the content:Liberalism, Art, and FundingDale Francis MurrayLiberalism, Art, and FundingSince Ronald Dworkin published A Matter of Principle, a host of critics have attempted to systematically dismantle his arguments advocating state support for the arts that appear in a chapter entitled, "Can a Liberal State Support Art?"1 The combined critical force of Noël Carroll, Samuel Black, and most recently, Harry Brighouse, has dislodged the main supports of Dworkin's position on this (...) subject.2 However, while I am skeptical that the arguments of liberals who endorse state support for the arts can be fully resurrected, I reckon that a few remarks can be presented to try to deflect at least a fraction of the contentions cast on Dworkin's argument by the critics listed above. In order to refine our understanding of precisely why state support for cultural expression should or should not be permitted, it is imperative that some sort of response to the critics of state support for the arts is offered.In this essay, I focus primarily on Brighouse's objections that Dworkin's arguments supporting arts funding fail primarily because they are not sensitive enough to the ways in which such support violates two demands of justice in a liberal state — state neutrality and publicity. I examine these two objections since they seem to be the most interesting, compelling, and damaging to Dworkin's case if substantiated. If Brighouse is correct, these violations act as heavy bulwarks against state support for arts funding, especially since public distrust of the state's intent (and the state's perceived advocacy of notions of the good with which the public disagrees) is high. I will employ Brighouse's neutrality of intent constraint, because it best represents the alleged specific violations of state neutrality that may undermine Dworkin's case. Additionally, neutrality of intent is the most plausible form of neutrality for advocates of public arts funding to build a case for in the space of a short essay.I also wish to make a distinction, which for the most part, is ignored by Dworkin's critics — that there is a degree to which moral value and aesthetic value are different and that this effects a possible alternative reading of the term "ways of life" as most liberals understand it. As a final note of preface, I will assume that the background conditions of income and wealth are just.3 This proviso will become important when we examine the role of the market in funding arts projects in lieu of the government. Now let us reiterate the two requirements of any just liberal state that are at issue when considering the legitimacy of state support for the arts. [End Page 116]Brighouse sets the pair of constraints on any just liberal state (neutrality and publicity) as the centerpieces of his essay. Neutrality of intent, that he appeals to more specifically, can be understood to mean, as Brighouse himself explains, "[T]hat while it is unobjectionable that state actions will have differential effects on conceptions of the good, the government should not intend to favor some conceptions over others" (NPS, 38, emphasis mine). The publicity constraint can be characterized by saying that in any just, liberal regime, justice must not only be done, but it must also be seen as being done. While this serves as the motto of the publicity constraint, it is significant to acknowledge that it stipulates that the real reasons for governmental action must be comprehensible to, and available for inspection by, reasonable citizens. In addition, it must be readily apparent to citizens that the demands of justice are being met. I will return to this constraint on the state later in this essay.Neutrality is of chief interest, since recent liberal political philosophers have emphasized the primacy of the right over the good (RLD, 245). Presumably, individuals, via their rational autonomy, shall define the good for themselves beyond the dictates of government. Our morality is our own personal affair, just so long as we remain within the confines of the harm principle and do not violate the equal liberty of others.On the surface, it is not apparent that state funding for the... (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Liberalism, Art, and FundingDale Francis MurrayLiberalism, Art, and FundingSince Ronald Dworkin published A Matter of Principle, a host of critics have attempted to systematically dismantle his arguments advocating state support for the arts that appear in a chapter entitled, "Can a Liberal State Support Art?"1 The combined critical force of Noël Carroll, Samuel Black, and most recently, Harry Brighouse, has dislodged the main supports of Dworkin's position on this (...) subject.2 However, while I am skeptical that the arguments of liberals who endorse state support for the arts can be fully resurrected, I reckon that a few remarks can be presented to try to deflect at least a fraction of the contentions cast on Dworkin's argument by the critics listed above. In order to refine our understanding of precisely why state support for cultural expression should or should not be permitted, it is imperative that some sort of response to the critics of state support for the arts is offered.In this essay, I focus primarily on Brighouse's objections that Dworkin's arguments supporting arts funding fail primarily because they are not sensitive enough to the ways in which such support violates two demands of justice in a liberal state — state neutrality and publicity. I examine these two objections since they seem to be the most interesting, compelling, and damaging to Dworkin's case if substantiated. If Brighouse is correct, these violations act as heavy bulwarks against state support for arts funding, especially since public distrust of the state's intent (and the state's perceived advocacy of notions of the good with which the public disagrees) is high. I will employ Brighouse's neutrality of intent constraint, because it best represents the alleged specific violations of state neutrality that may undermine Dworkin's case. Additionally, neutrality of intent is the most plausible form of neutrality for advocates of public arts funding to build a case for in the space of a short essay.I also wish to make a distinction, which for the most part, is ignored by Dworkin's critics — that there is a degree to which moral value and aesthetic value are different and that this effects a possible alternative reading of the term "ways of life" as most liberals understand it. As a final note of preface, I will assume that the background conditions of income and wealth are just.3 This proviso will become important when we examine the role of the market in funding arts projects in lieu of the government. Now let us reiterate the two requirements of any just liberal state that are at issue when considering the legitimacy of state support for the arts. [End Page 116]Brighouse sets the pair of constraints on any just liberal state (neutrality and publicity) as the centerpieces of his essay. Neutrality of intent, that he appeals to more specifically, can be understood to mean, as Brighouse himself explains, "[T]hat while it is unobjectionable that state actions will have differential effects on conceptions of the good, the government should not intend to favor some conceptions over others" (NPS, 38, emphasis mine). The publicity constraint can be characterized by saying that in any just, liberal regime, justice must not only be done, but it must also be seen as being done. While this serves as the motto of the publicity constraint, it is significant to acknowledge that it stipulates that the real reasons for governmental action must be comprehensible to, and available for inspection by, reasonable citizens. In addition, it must be readily apparent to citizens that the demands of justice are being met. I will return to this constraint on the state later in this essay.Neutrality is of chief interest, since recent liberal political philosophers have emphasized the primacy of the right over the good (RLD, 245). Presumably, individuals, via their rational autonomy, shall define the good for themselves beyond the dictates of government. Our morality is our own personal affair, just so long as we remain within the confines of the harm principle and do not violate the equal liberty of others.On the surface, it is not apparent that state funding for the... (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Beyond the Ethics of Wealth and a World of Economic InequalityMark D. WoodAnalyzing the ethics of wealth and the relationship between the dominant ethics of wealth and economic inequality is vital to creating a humane mode of global life. We are living during a period in which the unequal concentration of wealth—which is to say, the unequal concentration of the resources that make human existence, (...) development, and fulfillment possible—has never been greater.1 The World Bank reports that almost “1.3 billion people remain below the extreme poverty line with an income of US $1.25 or less a day. Close to 2.5 billion—more than one-third of the world’s population—live on less than US $2 a day, another common measurement of deep deprivation,”2 and a staggering 80 percent of the world’s population struggles to survive on less than US $10 dollars a day.3 Credit Suisse’s 2012 Global Wealth Report indicates “the bottom half of the global population [or more than 3.5 billion persons] possess barely 1 percent of total wealth... In sharp contrast, the richest 10 percent own 86 percent of the world’s wealth, with the top 1 percent alone accounting for 46 percent of global assets.”4 Given the history of international colonial and neocolonial relations, it comes as no surprise that wealth is highly concentrated in Western Europe and North America, while the overwhelming majority of individuals living in poverty are concentrated in Africa, India, Asia, and Central and South America.5The wealth gap between the top 10 percent and the bottom 90 percent is, however, also reaching record levels in developed nations. While in 2012, the United States had the seventh highest average wealth holdings per adult in the world, “among nations with at least a quarter-million adults, only Russia, Ukraine, and Lebanon are more unequal” than the United States.6 A Reuters investigative report published in 2012 reveals that “inequality has risen not just in plutocratic hubs such as Wall Street and Silicon Valley, but also in virtually every corner of the world’s richest nation: Inequality has increased in 49 of 50 states since 1989,” with Mississippi being the only exception, even as it still “ranks worst in the nation on both counts.”7 In 2010, “the top 1 percent of households (the upper class) owned 35.4 percent of all privately held wealth, and the next 19 percent (the managerial, professional, and small business stratum) had 53.5 percent, which means that just 20 percent of the people owned a remarkable 89 percent, leaving only 11 percent of the wealth for the bottom 80 percent [End Page 125] (wage and salary workers).”8 In The Price of Inequality (2012), Nobel Prize–winning economist Joseph E. Stiglitz indicates that the “six heirs to the Walmart empire command wealth of $69.7 billion dollars, which is equivalent to the entire wealth of the bottom 30 percent of U.S. society.”9 In short, six individuals possess more wealth than do ninety-six million individuals—though this figure is misleading inasmuch as most of the ninety-six million own almost nothing but mounting debt. Most significantly, the top 10 percent own between 81 percent and 94 percent of all stocks, bonds, trust funds, and business equity, and almost 80 percent of non-home real estate.10 G. William Domhoff makes the vital point that inasmuch as “financial wealth is what counts as far as the control of income-producing assets,” that is, control of the means of producing wealth, “we can say that just 10 percent of the people own the United States of America.”11 Meanwhile, according to the latest census, fifty million Americans qualify as poor and another 100 million qualify as low income.12The concentration of the lion’s share of wealth in the hands of a tiny fraction of humanity is devastating for the majority of people living on the planet and ultimately for everyone. On the ground, capitalism’s champagne glass–shaped distribution of wealth means that hundreds of millions of persons have barely enough of the basics necessary to exist. Between 24,000... (shrink)

Around the world the wealthy can get their lives extended while the poorget little basic medical help. Over the same years that the field ofbioethics has prospered and expanded, this disparity has increased.Reasons for the failure of bioethics to successfully address thishealth/wealth issue include its identification with the cognitiveand social authority of medicine; its gatekeeping behavior;its funding sources; its questionable use of ``principlism'' andits emphasis on crises and dilemmas to the neglect of ``housekeeping''issues. The work of most women in (...) bioethics rarely addresses thehealth/wealth issue; if it does, their work may be ignored, aswere the recommendations of Canadian feminists working under governmentgrants. To achieve equity in health care, the structure of both medicineand bioethics needs to be changed. Yet, since bioethicists generallyhave accepted the status quo, this seems unlikely to happen. (shrink)

Unfortunately, Adam Smith’s undeserved legacy as a proponent of laissez-faire and liberal institutions at the international scope inhibits profiting from his refined analysis of international affairs. I argue that the Wealth of Nations’ chapter on colonies contains Smith’s discussion of the sovereign’s adaptation to ignorance in global politics. I examine the sense in which the sovereign is ignorant according to Smith and how sovereigns adapt to ignorance with varying success. His comparative analysis suggests that reduction of one’s (...) share in ignorance is not always desirable, and a priori rejection of ignorance is impractical because it deprives of a potentially advantageous resource. A careful reading of his work enables learning from his approach to global politics, without filtering it through his ideas on the free market. (shrink)

In Capital in the Twenty-First Century, Thomas Piketty argues that markets, absent political intervention, tend toward economic divergence and that this has deleterious consequences for democratic ideals of equal voice and meritocracy. His goal is to foster a public conversation about what a society dominated by wealth—which we already beginning to experience as the twenty-first century begins—would look like if we wish to maintain an egalitarian ethos. His work will contribute to and further motivate several discussions in feminist bioethics, (...) namely, on the funding and organization of care labor, reproductive rights, global health, and commodification. (shrink)

In Capital in the Twenty-First Century, Thomas Piketty argues that markets, absent political intervention, tend toward economic divergence and that this has deleterious consequences for democratic ideals of equal voice and meritocracy. His goal is to foster a public conversation about what a society dominated by wealth—which we already beginning to experience as the twenty-first century begins—would look like if we wish to maintain an egalitarian ethos. His work will contribute to and further motivate several discussions in feminist bioethics, (...) namely, on the funding and organization of care labor, reproductive rights, global health, and commodification. (shrink)

In this comparative analysis of the UK and Sweden, we consider, if inherited wealth is most deserving of redistributive taxation, then what lessons, if any, may be learned from the difficult paths faced by this tax in these countries. We conclude that the political momentum behind the Swedish family business was distinct, and, possibly, capable of travel to the UK. The research for this article is part of the FairTax EU project, which is funded by the European Union’s Horizon (...) 2020 research and innovation programme 2014-2018, grant agreement No. FairTax 649439. (shrink)

Charitable foundations are being called upon to operate in more pen and democratic ways and to involve a more diverse constituency. This unprecedented study details the inner workings of a democratically organized philanthropy, where funding decisions are made by community activists. Susan A. Ostrander spent two years doing intensive field research at the Haymarket People's Fund -- a small, Boston-based foundation. Based on a philosophy of raising and giving away money called "Change, Not Charity," the Fund makes grants to local (...) grassroots social change organizations. The world of social movement funding comes alive with Ostrander's descriptions of grantmaking and policy meetings, donor events, and the day-to-day work of the Fund staff. Within this fascinating behind-the-scenes account, Ostrander argues that the "social relations of philanthropy" are more important and more varied than previously understood. Written at a time when Haymarket was dealing with crisis, this book tells a story of organizational change as the Fund moved from an informal collective to a more formal structure; it is also the story of a struggle to build a multi-race, multi-class, gender-equal organization. Ostrander details these ongoing struggles and addresses the larger issue of how fundraising can itself be a kind of social movement organizing among the progressive people with wealth who continue to be Haymarket's main donors. (shrink)

We draw on the behavioral agency model to explore the ethical consequences of CEO equity incentives. We argue that CEOs are more concerned with funding pension plans when they have more to gain from their stock options yet will increasingly underfund employee pension funds as their current option wealth increases. Our findings reveal that both effects hold when the CEO has greater power (also occupying board chair) over firm decision making. Our study suggests that there is an ethical (...) dimension to equity incentives, given they are intended to align CEO interests with shareholders, yet potentially incentivize CEO behaviors with adverse consequences for employees. Insights from our findings provide boards and regulators with behavioral levers to protect employee well-being in the context of pension funding. (shrink)

continent. 1.4 (2011): 242—252. Introduction The following two works were produced by visual artist Jonas Staal and writer Vincent W.J. van Gerven Oei during a visit as artists in residence at The Bag Factory, Johannesburg, South Africa during the summer of 2010. Both works were produced in situ and comprised in both cases a public intervention conceived by Staal and a textual work conceived by Van Gerven Oei. It was their aim, in both cases, to produce complementary works that could (...) be read “through each other,” in which the movement of artistic construction would be imitated by textual deconstruction and vice versa. Both works deal with the way in which capital, apartheid, and monumentality are interwoven in South-African society. The Missing Link addresses a monument for democracy, erected on the premises of a private corporation running both an amusement park and the Apartheid Museum franchise. The textual intervention accompanying this public intervention investigates the limits of the inclusiveness of the anti-discrimination section in the South-African constitution, itself a monumental work of democracy. The Monument for the Distribution of Wealth deals with the history and eventual dissolution of a monumental square, commemorating the Soweto Uprising, in one of the poorest townships of Johannesburg. The history accompanying this public dismemberment of memory is equally fragmented, which is expressed by the many voices recounting uncertain and perhaps even irrelevant “facts” about the genius loci, the way in which the memorial space has actually entered into the memory of the inhabitants surrounding it. Next to their individual practices, Staal and Van Gerven Oei have worked together on a number of projects ever since 2007, including several art residencies. Their work involves an investigation of the different interfaces between art, politics, and public space in media ranging from theater and public interventions, to video installations and (co-authored) textual works. The Missing Link Missing Link (1) Missing Link (2) Missing Link (3) Intervention on the monument entitled The Seven Pillars of the Constitution , part of the Apartheid Museum in Johannesburg, South Africa. The Seven Pillars represent the constitutional values propagated in South Africa since the abolition of the apartheid regime. The monument and museum were built by the Gold Reef Resorts corporation, which is also responsible for the theme park and casino next to it. By placing the word “capitalism” on the wall surrounding the museum, the capitalist system and the constant social divisions that it implies are interpreted as sophistic continuations of apartheid politics. Through the capitalist system, apartheid is still operational within South African society. Whereas during the apartheid regime, the separation clearly ran along race divisions, in the current, “democratic” system, the same actual separation is sustained without it being an explicit element of the foundations of the country, i.e. the constitution. This intervention foregrounds the constant role of capitalism is both periods. At the same time the intervention acknowledges that contemporary Western artisthood is a mirror of the privileges that are offered by the capitalist system, and the type of artist that it produces. The intervention initiates a critical discourse concerning the capitalist system situated within the disaster of capitalism itself, in other words: through the desire to break with the presumption that art would be able to operate outside the capitalist system and to confirm that art—and the artist himself—is in fact modeled on this system. The public intervention by Staal was supplemented by a textual intervention by Van Gerven Oei: a proposition to alter the seventeenth amendment of the South African constitution. Even though the anti-discrimination legislation in South-Africa is one of the most stringent and inclusive in the world, one factor—wealth—remains outside its scope, thus continuing the schisms along racial lines produced during the apartheid regime: §9.3. The state may not unfairly discriminate directly or indirectly against anyone on one or more grounds, including race, gender, sex, pregnancy, marital status, ethnic or social origin, colour, sexual orientation, age, disability, religion, conscience, belief, culture, language, birth, and wealth. Monument for the Distribution of Wealth Intervention concerning the June 16 Memorial Acre in Central Western Jabavu, one of the poorest townships of Johannesburg. The monument comprises a park on which different are placed recalling an important protest the black population against the former apartheid regime. In 1976, from a school adjacent to the park, they started a massive protest against the introduction of Afrikaans in the school curriculum. The police reacted violently, and shot several hundreds of students. The construction of the June 16 Memorial Acre was started in 2005, and from the start was the paragon of corruption. Coordinated by local politicians, some family members of the protest leader from 1976 gained control of the realization of the monument, outside the regulation through external institutions. The available budget of 41 million rand (at that time well over 5 million euro) was largely embezzled. In the meantime, the monument has become fully dilapidated and defaced. The park has become overgrown with weeds and covered in a layer of dirt, and the local population is slowly plundering the square to use the material for the construction and decoration of their own houses. The Monument for the Distribution of Wealth develops the dynamics already existent around the June 16 Memorial Acre. Without obtaining official permission in advance, several local inhabitants were hired to break down the monument, sort the materials, and offer it to the neighborhood. Thus, the redistribution of wealth after the fall of the apartheid regime is finally taking place, albeit from the mere remains of the capital that was once invested in the community. The words “monument” and “for free” are spray-painted on the stacks of material, both in English and Zulu, as these are locally the most common languages. Van Gerven Oei supplemented Staal’s public intervention with an account of the history of the monument based on a series of interviews. The account clarifies how the different interests within the protest 1976 are reflected in the exceeding decay of the park, and how in the end those interests were represented by the June 16 Memorial Acre. Monument for the Distribution of Wealth 1: Removing stones Monument for the Distribution of Wealth 3: Pulling down statues Monument for the Distribution of Wealth 4: Offering the material Monument for the Distribution of Wealth 5: Offering the material Monument for the Distribution of Wealth 6 The next day A Fragmentary History of the Monument for the Distribution of Wealth, Formerly Known as the June 16 Memorial Acre in Central Western Jabavu, Soweto Vincent W.J. van Gerven Oei The following text, based on interviews and online research aims to provide parts of a history of the park in front of Morris Isaacson High School in Central Western Jabavu, Soweto. The idea for the transformation of the park into a memorial site has its source in the events of June 16, 1976: the start of the the student uprising in Soweto. The development of the park was started in the early 1980s, and the actual transformation into a memorial site, the June 16 Memorial Acre, was initiated in 2005. Over the last few years, several monumental additions have been made to the park: A marble monument with three pillars was revealed on June 16, 2006. A sculpture of a book and several billboards on June 16, 2008. A sculpture of student leader Tsietsi Mashinini on June 16, 2010. The park was transformed into the Monument for the Distribution of Wealth on August 3, 2010. According to the entry “Youth Struggle” on the website South African History Online, the Bantu Education Act was introduced in 1953 . In 1954 , Dr Verwoerd, Minister of Native Affairs, stated: “What is the use of teaching the Bantu child mathematics when it cannot use it in practice? That is quite absurd.” According to the entry “Soweto uprising” on Wikipedia, the Afrikaans Medium Decree was issued in 1974 , forcing all black schools to use Afrikaans and English in a 50-50 mix as languages of instruction. The Regional Director of Bantu Education (Northern Transvaal Region), J.G. Erasmus, told Circuit Inspectors and Principals of Schools that from January 1, 1975 , Afrikaans had to be used for mathematics, arithmetic, and social studies from standard five (7th grade). English would be the medium for general science and practical subjects. Indigenous languages would be used for religion instruction, music, and physical culture. According the entry “Soweto uprising” on Wikipedia, on April 30, 1976 , students from the Orlando West Junior School in Soweto went on strike, refusing to go to school. Their example was followed by other schools in Soweto. A student from Morris Isaacson High School, Toboho “Tsietsi” Mashinini, proposed a meeting on June 13, 1976 to discuss further action. According to Weizmann Hamilton’s article “The Soweto Uprising 1976,” which appeared in the September 1986 edition of Inqaba Ya Basebenzi (Fortress of the Revolution), on June 13, 1976 , the South African Students’ Movement called a meeting at the Donaldson Community Center in Orlando. 300-400 Students representing 55 schools decided to hold a mass demonstration on June 16. According to Brian Mokhele, member of the Joint Community Safety Forum, Dr Edelstein was the first victim of the Soweto uprising and killed the day before the march on June 15, 1976 . Edelstein was an administrator at the pass office in Jabavu and gave golf courses to the local community. Edelstein was put in a garbage bin and pierced by pickaxes. The garbage bin was left at the very spot of the murder for many years. A few years ago, a child was beheaded at the same spot, and the basketball court next to it has been abandoned since. According to Marcus Neustetter, founder of the Trinity Session, this story is untrue. According the entry “Soweto uprising” on Wikipedia, on June 16 , Tsietsi Mashinini led students from Morris Isaacson High School to join up with others who walked from Naledi High School. A crowd of between 3,000 and 10,000 eventually ended up near Orlando High School. According to Raymond Marlowe, a local photographer, Tsietsi Mashinini was heading the march. According to the entry “Hector Pieterson” on Wikipedia, Dr Edelstein died on June 16, 1976 , stoned to death by mob and left with a sign around his neck proclaiming “Beware Afrikaaners.” The first child to die that day was called Hastings Ndlovu. According to Pat Motsiri, Orlando West is claiming struggle heritage through the Hector Pieterson Museum, while Hector Pieterson was from Jabavu. According to Pat Motsiri, his generation effectively struggled between 1980 and 1991, forcing the release of Nelson Mandela and negotiations with the apartheid regime while the 1976-generation was safely in exile. Nevertheless, this has not been recognized in any monument. After the abolition of apartheid, the generation from 1976 returned from exile, occupied important government and ANC positions, creating an abundance of 1976 memorials and refusing to acknowledge that this was only possible because of the younger generation’s struggle. He calls this a generational conflict. According to Archibald Dlamini, the park officer responsible for the Memorial Acre, he started working for the municipality in 1978. In 1981/82 , Isaac Makhele from Pimville, who used to work in the cemetery business, was the first developer of the park. It used to be just a normal park until City Parks decided to develop the Memorial Acre in 2006. In 2007 the work was stopped by the community. According to Brian Mokhele, he left the country in 1989 after he participated in the riots of 1986. But when he returned in 1999 he found that nothing had changed. He says that they were promised to be protected by the Constitution, but that reality is different. The police uses fear to suppress them so that they don’t come out to talk openly. He has been arrested twice, both times harassed and tortured by the police, but in the end always released without indictment. He says that this is their way to threaten communities to back off from politics. According to Moses, who is sitting outside rolling a joint, Brian knows everything. He tells Brian to tell me everything he knows. According to Brian Mokhele, Tsietsi Mashinini was possibly murdered in 1990 during his exile in New York. Two weeks before he was supposed to return to South Africa, his papers in order, he was found dead under mysterious circumstances. His coffin was sealed when he was buried. According to Pat Motsiri, he came up with the idea for the Memorial Acre in 2003 . He submitted the documents for the proposal to the council, which sidelined him as soon as the budget came out in 2005 . According to Brian Mokhele, there was on estimation R 41,000,000 spent to redesign the park and turn it into the Memorial Acre. The millions were divided by Amos Masondo, the mayor of Soweto, the local councilor Bongani D. Zondi, and the director of the city of Johannesburg, Pat Lephunya. They were dividing the money between several contractors: Tsietsi Mashinini’s brothers were involved in the development of the park, they got the tender to do the green areas, the landscaping. Construction was done by other companies, some did the paving, the toilets, etc. EMBA, a private company appointed by the municipality was in control of the money flow, but the money was quickly gone. According to Raymond Marlowe, the contractor bought a BMW with the money. According to Archibald Dlamini, the Mashinini brothers got the tender, so the space would look more like the other places around in Soweto. It was agreed that after they were done, they would return the property to the municipality. They did whatever they could do. According to Mafaisa, a member of the Jabavu business community, he was one of the contractors for the landscaping and the pavement under Mpho Mashinini, one of the brothers. He says that I should contact Mavi for information on Mpho. According to Poi Stuurman, a local youth worker, Mafaisa is one of the guys who ran away with the money. According to Mavi, Mpho Mashinini was never a contractor. The contracts were organized by Sbu Butelezi, the former head of the Gauteng Department for Public Works. The June 16 Foundation and the Mashinini brothers will be the beneficiaries of the park when it is finished. According to Brian Mokhele, City Parks did not accept the Memorial Acre because it was not finished. The rest of the year, the unfinished park is not maintained, as should have happened. This was done deliberately so that in the end they can just clean the whole thing up and have a reason to redo the whole park. According to Brian Mokhele, the Mashinini brothers now work for the government. People that manipulate for money purposes always come from the government’s side. Because the park was left unfinished, the people from the neighborhood are taking away the stones to decorate their own homes with. According to Archibald Dlamini, because City Parks doesn’t accept responsibility of the park, he officially has nothing the guard, except for his cottage, which is municipal property. The thieves come at night and destroy the park, but he cannot do anything because he is sleeping. According to the website of the Thanda Foundation on June 16, 2006 a bronze statue of Hector Pieterson, the first child to die in the 1976 protests, made by Kobus Hattingh and Jacob Maponyane was unveiled in the Maponya Mall in Soweto. The statue is sculpted after the famous image shot by Sam Nzima of Mbuyisa Makhubo carrying the dead body of the boy. The sculpture was sponsored by the Thanda Foundation, founded by the Swedish entrepreneur Dan Olofsson and South-African entrepreneur Matthews Phosa. According to the official website of the City of Johannesburg, the Memorial Acre and Artwork were unveiled in 2006. According to a blog post on sowetouprisings.com, the Memorial Acre was still under development on July 24, 2006. According to Archibald Dlamini, City Parks only cleans up the park once a year just before the June 16 celebrations. Everybody is waiting for the Mashinini brothers to finish their job. The last time he talked with them was in 2007 . According to a sign on the school grounds of the Morris Isaacson High School, the June 16 Trail will be finished in 2008 . According to a blog post on sowetouprisings.com, the Memorial Acre contains another monument erected in Tsietsi’s honor. The monument was created as part of the Sunday Times Heritage Public Art program. Its physical form resembles a giant book which symbolizes the crisis in education experienced in 1976. On the face of the book is the map of the route taken by the students from Morris Isaacson High School in Central Western Jabavu to Phefeni Junior Secondary in Orlando West (currently the site of the Hector Pieterson Museum), while the back cover of the ‘book’ is inscribed with a tribute to Tsietsi Mashinini. The monument was revealed on June 16, 2008 . According to Marcus Neustetter, the billboards on the Memorial Acre were part of a school project realized in 2008. Following several workshops, the students from different high schools along the June 16 Trail were invited to work with artists on the billboards, while the neighborhood community was invited to watch the process during the festivities on June 15 and 16, 2008 . The billboards were supposed to be removed because of construction works on the Memorial Acre, which never ended up happening. According to Brian Mokhele, the former toilet facilities were converted into a house for the park officer. This park officer has been working for city parks for more than 12-15 years, but does nothing here, because the park, including the new toilet buildings, is not finished. The government is now moving around looking for people to take this job because they stopped it. They confronted everybody who was going in and chased them away. According to John, in 2009 , some girls, around 16 or 17 years old, were raped by four men who had been drinking in a local shebeen. When the bar quit they said that they would go home by car, but instead raped the girls on the Memorial Acre nearby. This happened in the unfinished toilets, because the doors couldn’t be closed. According to Brian Mokhele, there used to be some fences around the park because of the construction work that was eventually stopped, but these were also stolen. According to Archibald Dlamini, people from the neighborhood started about two and a half years ago, and the last piece was stolen near the end of 2009 . Sometimes he would catch someone with a roll of fence, and then use it for his own cottage. According to the official website of the City of Johannesburg, a statue of Tsietsi Mashinini by Johannes Pokhela was revealed on June 16, 2010 , “Youth Day.” According to Shirley Makutoane, deputy principal of Isaac Morrison High School, the statue of Tsietsi Mashinini, funded by the June 16 Foundation, has temporarily been placed within the school perimeter. The statue will be moved to the Memorial Acre when it will be finished, in 2011 . According to Brian Mokhele, beside the June 16 Foundation, there is also a June 16 Memorial Acre Foundation. Both foundations are quarreling about the money involved in the Memorial Acre project. Nobody knows who’s involved in them. According to Marcus Neustetter, the June 16 Foundation consists of people that were part of 1976 protest movement, local government officials, representatives of the Hector Pieterson Museum, and the council. According to students from the Isaac Morrison High School, the statue of Tsietsi Mashinini is on the school ground because on the Memorial Acre it would be vandalized by youths from White City, an adjacent neighborhood. Accorcing to Brian Mokhele, the statue of Tsietsi should eventually be mounted on the Memorial Acre. It is wrong that the statue is in the school at the moment, because it is not a public school. He wants the statues to depict the massiveness of the force that was coming into Soweto after the protests. According to Brian Mokhele, City Parks, City of Jo’burg, City Lights, and SAPS are making some sort of plan to take the plan back. They want to remove the trees from the Memorial Acre, and redesign the Memorial Acre into a relaxing park, without political content. They want to depoliticize the square. In doing so,they will have their own employment and not use local workforces. According to Brian Mokhele, the community wants to remove the monuments, amphitheater, and sculptures from the Memorial Acre because they do not resemble anything. The sculptures should be depicting the truth of what happened, because the Memorial Acre is a political heritage site. He wants to involve the people that actually participated in the struggle to make the monument so that everyone can enjoy it and get a better understanding of the struggle heritage. Therefore, he proposes collective ideology in which everyone has a say. This would prevent future vandalization of the monument. According to Pat Motsiri, the sculptures must depict the event around June 16, 1976. Like the story of Dr Edelstein, who was pierced by pickaxes, forced into a garbage bin and burned alive. According to Jonas Staal, the Memorial Acre should be destroyed, its elements stacked on pallets, thus forming the Monument for the Distribution of Wealth . According to Mafaisa, his men can do the work quickly. He has about twenty men working under him. (shrink)

Philanthropy is a contentious and often polarising topic within egalitarian social movements. There are good reasons for this. Philanthropy is reliant on the inequalities inherent in the capitalist system, is fundamentally at odds with democratic relationships, and can moderate or control the activities of recipients. This article therefore starts from the premise that philanthropy violates egalitarian ideals in very significant ways. However, it goes on to suggest that, absent a ruptural change that would drastically weaken the bases of philanthropic (...) class='Hi'>wealth, there is a strategic and contingent case for its selective use so long as it pushes existing configurations of power in more egalitarian directions. In making this case, the article draws primarily on the work of Wright ( 2010 ) but also on recent developments in the political theory of philanthropy. It calls for a critical literacy around philanthropy that combines an openness to experimentation with a clear-eyed sense of its significant risks. In this respect, it outlines specific conditions and strategies that movements should adopt if they pursue or accept philanthropic funding. Firstly, movements must deliberately articulate and actively defend their transformative vision, clarifying in the process the tactical place of philanthropy within this. Secondly, they must resist funder conditionalities, and preserve egalitarian modes of organising in the face of practices which undermine participatory ideals and threaten relations of care and solidarity. The article’s chief contribution is to integrate normative insights with lessons from the sociological literature on movement-philanthropy relations, for the sake of systematically untangling a live and troublesome issue within the praxis of radical movements. (shrink)

The Eurozone Crisis is not just a monetary and economic challenge. It is as well the first tremendous challenge of the European Community and as well the national institutions and constitutions of the member states not only within the Eurozone. On one side the European Commission, the European Parliament and the ECB with its endeavours to safeguard and stabilize the single currency EURO within the Eurozone, to support the suffering countries in the south with its struggle against speculative hedge (...) class='Hi'>funds, to render financial relief measures to those countries and its financial industry. Irrespective the fact governments and citizens within that countries, less appear to appreciate or honor that measures as efficient help to stabilize but condemn as form of European paternalism and patronage. On the other hand the countries and its citizenship especially in the north of the Eurozone to set a stop sign to the EU and the ECB. Therefore they stress the Maastricht criteria and cite the Art 125 of the TEU, which prohibits one nation to stand for or to be liable for the Government debts of another nation. Especially in the German perspective the demarcation line appears to run along between the European Commission, European Central Bank and European Court on the European side and the Bundesverfassungsgericht, the Bundesbank on the national German side. Each of the institutions feels to be bound to its origin functions and principles and save the respective constitution and the task rendered by that constitution. For a better understanding it is essential to get aware of and to reinforce the constitutional role which the Grundgesetz awarded to the Bundesverfassungsgericht and the Bundesbank and the German citizenship placing their confidence in these institutions. Es soll konkret das Verhältnis zur Nichtbeistandsklausel No-Bail-out Klausel Art 125 AEUVertrag, den Europäischen Fiskalpakt / dem ESFS, ESM / dem OMT-Programm der EZB, möglichen Entwicklung des EU zur Haftungs- und Transferunion mit einem zukünftigen Haftungsautomatismus der Mitglieder, der Unterscheidung von gemeinsamer Währungspolitik und nationaler Wirtschaftspolitik, der drohenden Vergemeinschaftung von Staatsschulden einzelner EU-Länder, die Budgethoheit des nationalen Parlaments als freie Entscheidung über die Verwendung des nationalen Haushaltes untersucht werden. Mit allen diesen Fragen mussten sich das höchste Deutsche und Europäische Gericht in jüngster Vergangenheit intensiv beschäftigen. (shrink)

Preparing the Next Generation of Oral Historians is an invaluable resource to educators seeking to bring history alive for students at all levels. Filled with insightful reflections on teaching oral history, it offers practical suggestions for educators seeking to create curricula, engage students, gather community support, and meet educational standards. By the close of the book, readers will be able to successfully incorporate oral history projects in their own classrooms.

No matter one’s wealth or social position, all are subject to the threats of natural hazards. Be it fire, flood, hurricane, earthquake, tornado, or drought, the reality of hazard risk is universal. In response, governments, non-profits, and the private sector all support research to study hazards. Each has a common end in mind: to increase the resilience of vulnerable communities. While this end goal is shared across hazards, the conception of how to get there can diverge considerably. The earthquake (...) and hurricane research endeavors in the US provide an illustrative contrast. The earthquake community sets out to increase resilience through a research process that simultaneously promotes both high quality and usable – preparedness-focused - science. In order to do so, the logic suggests that research must be collaborative, responsive, and transparent. Hurricane research, by contrast, largely promotes high quality science – predictions - alone, and presumes that usability should flow from there. This process is not collaborative, responsive, or transparent. Experience suggests, however, that the latter model – hurricane research - does not prepare communities or decision makers to use the high quality science it has produced when a storm does hit. The predictions are good, but they are not used effectively. Earthquake research, on the other hand, is developed through a collaborative process that equips decision makers to know and use hazards research knowledge as soon as an earthquake hits. The contrast between the two fields suggests that earthquake research is more likely to meet the end goal of resilience than is hurricane research, and thus that communities might be more resilient to hurricanes were the model by which research is funded and conducted to change. The earthquake research experience can provide lessons for this shift. This paper employs the Public Value Mapping (PVM) framework to explore these two divergent public value logics, their end results, and opportunities for improvement. (shrink)

The Health Impact Fund (HIF) is a project aimed at expanding access to life-saving drugs worldwide and incentivizing pharmaceutical companies to invest in research and development for neglected diseases. The HIF would invert the existing patent framework by rewarding ideas through their diffusion rather than protecting against this diffusion, by encouraging a collective rather than privatized wealth scheme. The basic idea behind the HIF is the creation of a new competitive market that centers on individuals who, under normal circumstances, (...) exert very little force on the tide of market demand. The HIF does not operate on standard market measures of demand, but instead measures demand as a product of needs, while in conventional market scenarios, private citizens and national welfare states pay for needs. The idea is that the HIF would create a functional, competitive market in which pharmaceutical profit is determined by the actual health impact of each new drug, a measure born from pharmacological and distributive efficacy. In this article, the basic features of and main challenges to the HIF are addressed. (shrink)

The world has been going through the process of economical, political and cultural integration for a long time. At the end of the 20th century, the integration received a new meaning. In the world?s policy, sovereign countries were in conflict or collaborated earlier. A stricter hierarchy of economical and political power hubs is being established now. In such processes of globalization, differences in development, wealth and power arise, people are less safe, the sovereignity of national states is being (...) violated. The story of equality remains in the sense of disappearance of cultural differences in floods of non-cultural culture. It is difficult to talk about democracy when the world?s power is getting stronger and stronger. Is it possible to have a globalization which would not affect human rights, and which would not prevent people from taking care of truth, freedom and happiness? Svet se odavno ekonomski, politicki i kulturno objedinjuje. Krajem 20. veka je objedinjavanje dobilo novo znacenje. U svetskoj politici su se ranije podrazumevali sukobi ili saradnja suverenih drzava. Sada se uspostavlja sve cvrsca hijerarhija medju raznim ekonomskim i politickim sredistima moci. Kod ovakvog globalizovanja se razlike u razvijenosti, bogatstvu i snazi povecavaju, ljudi postaju sve manje bezbedni, a suverenost nacionalnih drzava se osipa. Prica o jednakosti ima smisla samo kao nestajanje kulturnih razlika u poplavi nekulturne kulture. O demokratiji je tesko govoriti uz sve cvrscu dominaciju svetske moci. Da li bi moglo da postoji globalizovanje koje ne bi ugrozavalo ljudska prava, koje ne bi sprecavalo ljude da brinu o istini, slobodi i sreci? PR Projekat Ministarstva nauke Republike Srbije, br. 179006. (shrink)

This article has three main parts, Section 2 considers the nature and extent to which individuals who are well-off have a moral obligation to aid the worlds needy. Drawing on a pluralistic approach to morality, which includes consequentialist, virtue-based, and deontological elements, it is contended that most who are well-off should do much more than they do to aid the needy, and that they are open to serious moral criticism if they simply ignore the needy. Part one also focuses on (...) the United States, and illustrates both how incredibly wealthy the U.S. is and some of the spending habits of its citizens; however, its considerations apply to the well-off generally. Section 3 considers whether justice provides reasons for helping the needy. Noting that justice in an extremely complex notion, it discusses numerous considerations relevant to justices scope and implications, including an extended Rawlsian conception of justice, an absolute conception, a comparative conception, the distinction between natural and social justice, and various elements of common-sense morality. Section 2 also distinguishes between agent-relative justice-based reasons, which are relevant to whether we act justly, and agent-neutral justice-based reasons, which are relevant to whether we have reasons of justicefor acting. Correspondingly, it argues that even if one can ignore the needy without acting unjustly, as philosophers like Robert Nozick and Jan Narveson contend, there may be powerful reasons of justicefor addressing their plight. Section 4 briefly address the responsibilities of international organizations like the World Bank, the International Monetary Fund (IMF), and World Trade Organization (WTO). Drawing on Section 2, it is suggested that in addition to standard reasons to act justlytowards needy members of the worlds community, there will be reasons of justicefor such organizations to aid the needy in both present, and future, generations. The article concludes by contending that the well-off in countries like the U.S. have reason to view international organizations like the World Bank, IMF, and WTO as their agents, and to seek to insure that they alleviate misfortunes amongst the worlds needy. (shrink)

Many political theorists have turned to the dramatic political events of the post-9/11 world – terrorism, war, and the erosion of civil liberties – for insight into our changing sense of the political. Yet few have examined the economic dimensions of these events or sought to learn what they might tell us about the changing nature of political community today. This article seeks to fill this gap by drawing on the work of Michel Foucault and Georgio Agamben to examine the (...) intimate and changing relationship between the political and the economic in the contemporary world. Now more than ever, there is a particular conception of politics at stake in global efforts to govern economic relations. Global economic institutions like the IMF and World Bank are policing the definition of political community and, in doing so, extending the scope of liberal governmentality. At the same time, the character of their implementation and justification is that of the sovereign exception, as state autonomy must continually be breached through extensive conditionality in order for it to be re-established in the form of a more ‘sound’ political and economic order. This is a sovereign exception with a difference: for the norm that is being established is one that necessarily limits the scope of sovereign power in the interests of market freedom. Paradoxically, while the economy is often the exception to politics as usual, is it an exception that simultaneously enables and constrains the possibility of exercising sovereignty itself? (shrink)

Justification for public funding of academic research is based on the linear model of technological advance first proposed by Francis Bacon. The model hypothesizes that government subsidized science generates new technology which creates new wealth. Mainstream economics supports Bacons model by arguing that academic research is a public good. The Bayh–Dole Act allows universities to privatize federally funded research and development (R&D) which is in direct conflict with the public good argument. Diminishing returns to university R&D, challenges to Bacons (...) linear model and the labor exploitation of young scientists by research universities suggest that policy makers may want to reconsider the system for allocating federal R&D to universities and colleges. (shrink)

Effective Altruism is a popular social movement that encourages individuals to donate to organizations that effectively address humanity’s most severe poverty. However, because Effective Altruists are committed to doing the most good in the most effective ways, they often argue that it is wrong to help those nearest to you. In this paper, I target a major subset of Effective Altruists who consider it a moral obligation to do the most good possible. Call these Obligation-Oriented Effective Altruists (OOEAs), and their (...) movement Obligation-Oriented Effective Altruism (OOEA). I argue that insofar as this variety of OOEA seems to commit us to refrain from helping the people right in front of us, there is something intuitively wrong about it. In response, I introduce an alternative model that embraces partiality: Mutual Aid. Mutual Aid is a network of community members, usually from the same geographical region, who share a commitment to offer, receive, and exchange material goods, wealth, and social support. I recommend Mutual Aid as a liberatory model, which—through empathy, solidarity, and care—mobilizes community building and provides a catalyst for community advocacy. As such, we should resist the claims of OOEAs that partially distributing our funds to people or causes we care about is morally wrong or even less than ideal. We do not have a moral obligation to use our funds “effectively;” rather, we have a broader obligation to address human suffering, and Mutual Aid is one moral alternative for discharging this duty. (shrink)

I seek to answer the question of whether publicly funded higher education ought to aim intrinsically to promote certain kinds of ‘‘blue-sky’’ knowledge, knowledge that is unlikely to result in ‘‘tangible’’ or ‘‘concrete’’ social benefits such as health, wealth and liberty. I approach this question in light of an African moral theory, which contrasts with dominant Western philosophies and has not yet been applied to pedagogical issues. According to this communitarian theory, grounded on salient sub-Saharan beliefs and practices, actions (...) are right insofar as they respect relationships in which people both share a way of life, or identify with one another, and care for others’ quality of life, or are in solidarity with each other. I argue that while considerations of identity and solidarity each provide some reason for a state university to pursue blue-sky knowledge as a final end, they do not provide conclusive reason for it to do so. I abstain from drawing any further conclusion about whether this provides reason to reject the Afro-communitarian moral theory or the intuition that blue-sky knowledge is a proper final end of public higher education. I do point out, however, that the dominant Western moral theories on the face of it do no better than the African one at accounting for this intuition. (shrink)

In this article I discuss the conditions under which sovereign debts are not morally binding for a state. Following an old legal doctrine, I call non-binding debts ‘odious'. I proceed as follows. First, I argue that alternative accounts on the morality of debts are unsatisfactory. The problem these accounts have are that they do not clearly identify the philosophical issues that underlie the notion of odious debts, or that they fail to specify what exactly the immorality of odious debts (...) consists in. Second, I defend the view that a debt is odious when two conditions are satisfied: borrowed funds were used by public officials for purposes for which they were not authorised lenders knew, or should have known, about possible unauthorised uses of those funds. If these two conditions are both satisfied, debts should not be considered debts of the state, but rather personal debts of rulers. Third, I discuss the feasibility of my approach by exploring how it would work in the current world. Finally, I d.. (shrink)

For three centuries, philosophers have mounted defenses against the melan genie with an obsessive intensity comparable to the Reaganite determination to squander American wealth on defenses against a Communist threat. And for three centuries, skeptics have argued for the futility of the expenditure of conceptual effort with no more success than critics of the Pentagon have had in stemming the flow of funds to the military and its industrial minions. My own sympathies are with the skeptics. However, their (...) own intense involvement with the obsessions of the epistemological fear mongers and their failure to address the analogue of the problem of conversion from military to civilian industry in an acceptable manner often deprive the skeptical position of the subversive force it ought to have. (shrink)