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Disentangling the Epistemic Failings of the 2008 Financial Crisis

In David Coady & James Chase (eds.), The Routledge Handbook of Applied Epistemology. New York: Routledge. pp. 196-210 (2018)

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  1. Organizational Good Epistemic Practices.Lisa Warenski - forthcoming - Journal of Business Ethics:1-16.
    Epistemic practices are an important but underappreciated component of business ethics; good conduct requires making epistemically sound as well as morally principled judgments. Well-founded judgments are promoted by epistemic virtues, and for organizations, epistemic virtues are arguably achieved through organizational good epistemic practices. But how are such practices to be developed? This paper addresses this normative and practical challenge. The first half of the paper explains what organizational good epistemic practices are and outlines a means for their construction. The second (...)
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  • Epistemic Responsibility in Business: An Integrative Framework for an Epistemic Ethics.Erwan Lamy - 2022 - Journal of Business Ethics 183 (1):1-14.
    How can we make businesspeople more concerned about the truth of the information they spread or allow to circulate? In this age of ‘fake news’, ‘business bullshit’ and ‘post-truth,’ the issue is of the utmost importance, especially for business trustworthiness in the internet economy. The issue is related to a kind of epistemic responsibility, that consists in accounting for one’s own epistemic wrongdoings, such as making a third party believe something false. Despite growing interest in epistemic misbehavior in the literature (...)
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  • Organisational integrity as an epistemic virtue.Marco Meyer - 2024 - In Muel Kaptein (ed.), Research Handbook on Organisation Integrity. Cheltenham: Edward Elgar Publishing. pp. 377–392.
    Integrity is often conceived as a moral virtue that pertains to the coherence between one’s moral convictions and actions, as well as consistency in convictions over time. By contrast, I argue that integrity is primarily an epistemic virtue. To act with integrity, an individual or organisation must engage in responsible inquiry; that is, the collection, processing, sharing, and storage of information in ways that promote truth. Organisational structures such as division of labour and hierarchy present challenges to responsible inquiry, thereby (...)
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  • JPMorgan's 'London Whale' Trading Losses: A Tale of Human Fallibility.Lisa Warenski - 2024 - In Joakim Sandberg & Lisa Warenski (eds.), The Philosophy of Money and Finance. Oxford, UK: Oxford University Press. pp. 129-47.
    Good epistemic practices are essential to the well-functioning of organizations. Epistemic practices are adopted norms, policies, procedures, and general methodologies that further our epistemic aims or realize our epistemic values. This chapter argues for the importance of organizational good epistemic practices through an analysis of the failures of risk management implicated in JPMorgan’s notorious ‘London Whale’ trading losses, which roiled the financial markets in 2012. A number of these failures of risk management exemplified ways in which we, as fallible reasoners, (...)
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  • philosophy of money and finance.Boudewijn De Bruin, Lisa Maria Herzog, Martin O'Neill & Joakim Sandberg - 2012 - In Peter Adamson (ed.), Stanford Encyclopedia of Philosophy. Stanford Encyclopedia of Philosophy.
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