De um modo geral, queríamos mostrar que a filosofia tem suas próprias áreas, mas tem também subáreas em interdisciplinaridade com as ciências. As ciências e as disciplinas acadêmicas em geral têm problemas, cuja a solução pode ser encontrada empiricamente, por meio de experimentos, entrevistas, documentos, ou formalmente, por meio de cálculos etc, porém os problemas das filosofias dessas disciplinas são justamente os problemas mais fundamentais dessas disciplinas, que fundam o quadro conceitual e de pesquisa das mesmas, e que só poderiam (...) ser respondidos por meio de uma extensa argumentação. A filosofia de cada uma dessas disciplinas é uma mistura (a) de metafísica da disciplina, perguntando-se qual a natureza e justificação das entidades que formam o quadro teórico da disciplina, i.e., quais delas realmente existem na realidade (não sendo meros instrumentos para obter resultados) e quais as suas categorizações fundamentais, naturezas e funções teóricas, (b) de epistemologia dessa disciplina, ao nos perguntarmos sobre como tal área poderia obter conhecimento de modo confiável e se ela de fato o faz, e (c) de teorias do valor, ao nos perguntarmos, por exemplo, sobre qual o valor moral do desenvolvimento de uma certa disciplina e, finalmente, (d) a lógica, que perpassa tudo, ao nos perguntarmos sobre a consistência das teses assumidas pela disciplina. Não é à toa que falamos que a filosofia é mãe de todas as ciências. Ela é mãe tanto num sentido geracional, pois a maioria das ciências foram desenvolvimentos particulares, empíricos ou de cálculo, das questões filosóficas sobre um certo tema, quanto num sentido fundamental, pois é a filosofia que fornece os fundamentos mais gerais, metafísicos, epistêmicos, valorativos e lógicos, na construção do quadro teórico de cada ciência e na qualidade dos métodos para se aproximar da verdade que a disciplina utiliza. A biologia, por exemplo, foi criada por Aristóteles, tal como os primeiros desenvolvimentos da meteorologia (na verdade, esta começa com os pré-socráticos), e grande parte do fundamento da física atual jaz nas discussões de filosofia da física. Sendo você filósofo ou cientista de outra área, a filosofia promete te dar as bases para uma reflexão geral ou sobre sua área, que seja muito mais informada e profunda do que aquilo que você poderia realizar sem ela. /// In general, we wanted to show that philosophy has its own areas, but it also has subareas in interdisciplinarity with the sciences. The sciences and academic disciplines in general have problems, the solution of which can be found empirically, through experiments, interviews, documents, or formally, through calculations etc., but the problems of the philosophies of these disciplines are precisely the most fundamental problems. of these disciplines, which build their conceptual and research framework, and which could only be answered through extensive argumentation. The philosophy of each of these disciplines is a mixture (a) of metaphysics of the discipline, asking what is the nature and justification of the entities that form the theoretical framework of the discipline, ie, which ones really exist in reality (not being mere instruments for achieving results) and what are its fundamental categorizations, natures and theoretical functions, (b) the epistemology of this discipline, when we ask ourselves how such an area could obtain knowledge reliably and if it does, and (c) theories of value, when we ask ourselves, for example, about the moral value of the development of a certain discipline and, finally, (d) the logic, which permeates everything, when we ask ourselves about the consistency of the theses assumed by the discipline. It is not for nothing that we say that philosophy is the mother of all sciences. It is a mother both in a generational sense, as most sciences were particular empirical or formal developments of philosophical questions on a certain topic, and in a fundamental sense, as it is philosophy that provides the most general, metaphysical, epistemic, evaluative and logical foundations, in the construction of the theoretical framework of each science and in the quality of the methods to approach the truth that the discipline uses. Biology, for example, was created by Aristotle, like the first developments in meteorology (in fact, it starts with the pre-Socratics), and much of the foundation of current physics lies in discussions of the philosophy of physics. Whether you are a philosopher or scientist from another area, philosophy promises to give you the basis for a general reflection or about your area, which is much more informed and profound than what you could accomplish without it. (shrink)

Ethical investors are widely thought of as having two main goals. The negative goal of avoiding their investments to be morally tainted. The positive goal to further a certain ethical value they embrace or some normatively laden idea they hold by investing their money in a certain company. In light of these goals, the purpose of this paper is to provide an account of how we can explicitly include investors’ intentions when conceiving of ethical investment. The central idea is that (...) an investor’s intentions may act as both a negative and a positive qualifier for making investing ethical. If we subscribe to this account, there are interesting upshots with respect to how ethical investing compares to ethical giving as effective altruists construe it. (shrink)

de Bruin et al. (The Stanford Encyclopedia of Philosophy, Stanford University, Stanford, 2018) write that it is a philosophically interesting question “whether there is such a thing as an 'intrinsic' value of financial assets” noting that the calculation of any intrinsic price will depend, in part, on subjective elements. McCauley suggest that there are at least five different notions of the ‘true value’ of an asset in finance theory, and argues, consistent with de Bruin et al. that in many cases (...) the calculation of such values “makes impossible information demands on our knowledge of future dividends and returns”. This paper explores some of the subjective elements involved in calculating the intrinsic value of an asset, and their implications for the Law of One Price. The Law of One Price states that investors should not pay different prices for the same investment. Consequently, the existence, and persistence, of arbitrage opportunities is often attributed to investor irrationality. However, if subjectivity is involved in the calculation of intrinsic value then two investors can, rationally, disagree about the value of a security. This implies that arbitrage opportunities may not always be instances of irrationality, or genuine mispricing, but reflect different investors perceptions of the security. In economics, value is taken to be subjective, and Postigo describes how goods have value because of the role they play in the satisfaction of our needs. By applying this to finance, this paper will argue that a security can play a number of roles in a portfolio, depending on an investor's strategy. Given these different roles, different investors will be working with different data in their assessment of intrinsic value. In order to establish that an arbitrage opportunity exists it is therefore necessary to understand what information is relevant to pricing the investment in different locations, or markets. It may, in fact, be the case that the same security can trade at different prices because different investors do not see it as the ‘same thing’ at all. This analysis can also be used to throw doubt on the emphasis that fundamental analysis receives in discussions of rationality. (shrink)

Theories of justice rely on a variety of criteria to determine what social arrangements should be considered just. For most theories, the distribution of financial resources matters. However, they take the existence of money as a given and tend to ignore the way in which the creation of money impacts distributive justice. Those with access to collateral are favoured in the creation of credit or debt, which represents the main form of money today. Appealing to the idea that access to (...) credit confers freedom, and that inequalities in this freedom are morally arbitrary, this article shows how the advantage to those with collateral plays out in different ways in today’s economy. The article identifies several forms of bias inherent in money creation, and its subsequent destruction: loans from commercial banks to individuals and corporations, interbank lending, lending from central banks to commercial banks, and selective bail-outs by central banks. These are not mere inequalities: they are unjust since alternative designs of the financial architecture exist that would significantly reduce them. The paper focuses on one possible reform with the potential to address several of the types of bias identified, namely the separation of money creation from private bank credit. (shrink)

In this article, we identify three key design dimensions along which cryptocurrencies differ -- privacy, censorship-resistance, and consensus procedure. Each raises important normative issues. Our discussion uncovers new ways to approach the question of whether Bitcoin or other cryptocurrencies should be used as money, and new avenues for developing a positive answer to that question. A guiding theme is that progress here requires a mixed approach that integrates philosophical tools with the purely technical results of disciplines like computer science and (...) economics. Note: this article is the second entry within a two-part sequence on the Philosophy, Politics, and Economics of Cryptocurrency. (shrink)

The main goal of this thesis is to provide a clear basis for the analysis of alternative currencies, such as Bitcoin, LETS, Local currencies, the WIR or Carbon currencies. It attempts to determine whether alternative currencies might constitute just and workable alternatives, either in the form of small-scale experiments or in the form of more radical reforms. The first chapter proposes a new way to classify currencies. The second examines the case in favour of monetary plurality. The third analyses the (...) claims in favour of restricting the use of money locally, within a community, or to certain goods. The fourth studies the link between money and the market. Finally, a post-scriptum focuses on Bitcoin and cryptocurrencies. This thesis highlights that these currencies are drivers of several potential conflicts. Their widespread use might conflict with the adequate management of monetary policy, with social justice, and with liberal values. These conflicts are potential, for they would come into existence only if alternative currencies increased in scope. However, there is no reason to disregard potential conflicts when the case in their favour relies mostly on their potential benefits. (shrink)

O escritor A. J. Jacobs (2018) decidiu agradecer todas os envolvidas na preparação de seu cafezinho diário; isso o levou a uma jornada épica para contatar milhares de pessoas, desde a barista que lhe vendia o expresso matinal, passando por designers e inventores, até os agricultores que plantaram e colheram o grão em outro continente. Não existe um único indivíduo ou grupo responsável pelo seu café: é preciso um mundo para produzi-lo; é resultado de uma cadeia produtiva, uma rede decentralizada (...) que envolve diversos serviços espalhados internacionalmente – e todas essas pessoas, por sua vez, consomem outros produtos, com outras cadeias. Como este livro. Contraste esse exemplo com a anedota do diplomata soviético que, visitando Londres, fica maravilhado com as padarias – e então pergunta pelo encarregado da distribuição de pães na cidade (Harari, 2016, p. 372). Para seu espanto, os economistas ingleses respondem que ninguém tem esse cargo: o fornecimento de pães é resultado de um agregado de decisões individuais, em que cada fornecedor de matéria-prima (como farinha, sal, fermento) e serviços (transporte, padaria, limpeza) regula sua oferta a partir do que espera que os consumidores querem consumir – e o quanto estes estão dispostos a pagar. É o caso clássico do funcionamento de uma economia de mercado – em contraste com uma economia de comando, onde um grupo de pessoas, conscientemente, toma decisões sobre produção e distribuição. Esses exemplos ressaltam as “vantagens” dos mercados; pode ser tentador pensar, a partir deles, que todos os bens e serviços deveriam ser fornecidos dessa forma, porque isso maximiza a liberdade individual ou tende a 553 levar ao bem-estar coletivo, e que o melhor a fazer é evitar interferências nesse sistema – ideias associadas ao liberalismo econômico, uma teoria política e econômica que tem por patrono Adam Smith (o primeiro economista clássico). No entanto, mesmo economistas liberais reconhecem que há falhas de mercado (como bens públicos e monopólios129). Voltemos a A. J. Jacobs, o qual frisa seu agradecimento ao serviço de fornecimento de água, um “milagre moderno”: ao longo da história, a imensa maioria das pessoas não teve acesso a água encanada – mesmo hoje, 2 bilhões de pessoas ainda carecem de condições sanitárias adequadas (água e esgoto), o que causa doenças que matam 829 mil por ano (WHO, 2015). É um problema que não pode ser resolvido só por mercados, nem por associações filantrópicas; na maior parte do mundo, é um serviço público, geralmente fornecido ou regulado por estados – e sua ausência decorre de falhas de governo. (shrink)