Polanyi analyzes the historical deployment of a “formal” economic science starting from the “market-scarcity-instrumental rationality triptych.” This triptych, and the knowledge associated with it, is shown to be more than merely a “substantial” economic science’s interest in the triptych “need-nature-institution.” While we must agree with Polanyi that economism is ill-suited to the first triptych, we hesitate to accept his suggested alternative, a heterogeneous mixture of naturalism and institutionalism, essentialism and historicism.

Recent corporate scandals raise an old question anew: is capitalism fundamentally infected by immorality? A now almost forgotten answer to this question was advanced at the dawn of capitalism, an answer that students of business ethics would find profit in considering. In the early eighteenth century, Bernard Mandeville authored The Fable of the Bees, which became notorious in its day for arguing that capitalism created wealth while necessarily relying on vicious impulses. The fundamental dilemma is that morality requires self-denial while (...) capitalism runs on self-interest. As such, Mandeville claims that business and ethics are essentially separate.While this would appear to align him with skeptics of business ethics, Mandeville does suggest a role for moral theorists in dealing with the challenges of commercial societies. The Mandevillean business ethicist proceeds by separating the public and private spheres. In the former, where government policy toward business is at issue, the Mandevillean ethicist applies a market-friendly utilitarianism. In the latter, where individual conduct is at issue, the Mandevillean gently articulates a market-critical ethic predicated on self-restraint. (shrink)

Mathematical theorems are cultural artifacts and may be interpreted much as works of art, literature, and tool-and-craft are interpreted. The Fundamental Theorem of the Calculus, the Central Limit Theorem of Statistics, and the Statistical Continuum Limit of field theories, all show how the world may be put together through the arithmetic addition of suitably prescribed parts (velocities, variances, and renormalizations and scaled blocks, respectively). In the limit — of smoothness, statistical independence, and large N — higher-order parts, such as accelerations, (...) are, for the most, part irrelevant, affirming that, in the end, most of the world's particulars may be averaged over (a very un-Scriptural point of view). (We work out all of this in technical detail, including a nice geometric picture of stochastic integration, and a method of calculating the variance of the sum of dependent random variables using renormalization group ideas.) These fundamental theorems affirm a culture that is additive, ahistorical, Cartesian, and continuist, sharing in what might be called a species of modern culture. We understand mathematical results as useful because, like many other such artifacts, they have been adapted to fit the world, and the world has been adapted to fit their capacities. Such cultural interpretation is in effect motivation for the mathematics, and might well be offered to students as a way of helping them understand what is going on at the blackboard. Philosophy of mathematics might want to pay more attention to the history and detailed technical features of sophisticated mathematics, as a balance to the usual concerns that arise in formalist or even Platonist positions. (shrink)

This paper seeks to show that Bernard Mandeville's primary purpose in The Fable of the Bees was to historicize the concept of self?love (amour?propre) articulated by seventeenth?century French Jansenists and moralistes; that in doing so Mandeville constructed a theory designed to explain the inter?subjective constraints and forces of social discipline which characterize commercial societies; and that a full understanding of Mandeville's achievement depends upon an appreciation of the way in which pride in his theory becomes socialized into hypocrisy at a (...) decisive moment in the civilizing process, a moment after which, Mandeville argues, cultural institutions themselves can contain that unfettered self?interest which his contemporaries fearfully associated with the triumph of commerce. (shrink)

As late twentieth-century discourses of modernity and postmodernity invoke their Enlightenment heritage in a search for the origins of their present achievements and predicaments, Adam Smith's works are still seen as a canonic representative of that heritage. Smith has long been evoked as the ‘father’ of economics and the original proponent of laissez-faire capitalism, but the political changes in recent decades have reconstituted his iconic status. With the full range of Smith's published and unpublished writings and lectures now widely available, (...) there has been a huge growth in the scholarly literature on Smith which has subjected this traditional view to searching questions. The overwhelming conclusion to emerge is that Smith's works display a subtlety and complexity that is at odds with the received image of Smith as the spokesman of modernity, but the diversity of interpretation raises some difficult methodological issues. (shrink)

Claims that science may become 'self-fulfilling' through its impact on objects of study have recently risen to prominence. Despite radical statements about the supposed consequences of such accounts, however, the central notion of scientific self-fulfillment has remained obscure, leading to skewed views of its actual prevalence and significance. -/- Self-Fulfilling Science illuminates this underexplored phenomenon, drawing on insights from philosophy of science to address questions of its conceptualization, prevalence, and significance. The book critically engages with the popular notion that economic (...) theories of homo economicus exhibit self-fulfillment, and explores its relevance to various metaphysical, ethical, and epistemic issues. Extreme claims of fundamental incompatibility with our usual notions of scientific success are ill-founded. Instead, self-fulfillment’s true epistemic significance lies in more local, nuanced philosophical issues such as theory evaluation and the thesis of underdetermination. -/- In presenting a novel framework, this book facilitates deeper engagement with the developing field of self-fulfilling science and is of interest to philosophers of science, social scientists, and social constructionists. (shrink)

In the Theory of Moral Sentiments, Adam Smith observed that we live in a fundamentally conflictual world. Although he held that we are creatures who sympathize, he also observed that our sympathy seems to be constrained by geographical limits. Accordingly, traditional theories of cosmopolitanism were implausible; yet, as a moral philosopher, Smith attempted to reconcile his bleak description of the world with his eagerness for international peace. Smith believed that commercial intercourse among self‐interested nations would emulate sympathy on a global (...) scale, balancing national wealth and international peace without a coercive apparatus to enforce compliance with international law. (shrink)

ABSTRACTThis paper strengthens Bhaskar’s case for the possibility of naturalism. Building on Bhaskar’s A Realist Theory of Science and The Possibility of Naturalism, and on more recent contributions by Douglas Porpora, it traces the evolution of Bhaskar’s concept of 'intransitive' and follows his suggestion to treat social structure as an intransitive generative mechanism analogous to the generative mechanisms of the natural sciences. It is suggested, building on Porpora, that the constitutive rules of the market are usefully regarded as generating an (...) intransitive 'basic social structure.' That this same intransitive object is reasonably regarded as continuing to exist and act under different descriptions is illustrated by citing how different scholars have approached it with different concepts and vocabularies. It expands on Bhaskar’s first example of an intransitive object of social science, the mass unemployment that provided a ‘motor’ for Keynes, and on Porpora’s examples of the causal powers of social structures. (shrink)

This article examines Marcel Gauchet’s claim that the political history of religion is the key to a new understanding of contemporary liberal democratic societies in the shape that they have come to assume since the 1970s. The Disenchantment of the World presents a history of religion starting out from the thesis that, from the perspective of universal history, the primary function of religion can be identified with the production of the unity and identity of societies. Present-day liberal democracies, it is (...) argued, perform the same function through an alternative disposition of the constitutive elements of collective life. Where religions institute the identity of the society by accepting dependence upon a supernatural origin, contemporary society is organized as a ‘subjective form of social functioning’, in the sense that it is able to create and transform itself. Gauchet argues that the central structural features of contemporary society – the administrative state, the separation of civil society and the freedom of individuals, and the global orientation to the future – allow the practical accomplishment of the ideal of autonomy announced by the tradition of modern and revolutionary political thought. The explication of this logic establishes the preconditions for the criticism of these societies, by showing the historical decision and the internal articulations that give them their cohesion. (shrink)

This article reports the results of an exploratory investigation of a particular area of moral tension experienced by MBA students in a graduate school of business. During the first phase of the study, MBA students'' own perceptions about the moral climate and culture of the business school were examined. The data gathered in this first part of the study indicate that the students recognize that a central part of this culture is constituted by a shared familiarity with a set of (...) institutionally reinforced premises about human behavior and motivation including the ideas that: 1) people are self-interested utility-maximizers, 2) individuals should be unimpeded in their pursuit of their own self-interest through economic transactions, and 3) virtually all human interactionsare economic transactions. The data further indicated that the business students experience a degree of tension between this ethic of self-maximizing and the everyday ethics prevalent in our broader culture, in which altruism and selflessness are central elements. The final section of the study was an effort to see whether and how these institutionally sanctioned premises were integrated into the students'' arguments about the relationship between self-interest and social responsibility. (shrink)

In the 1970s, deep ecologists developed a radical normative argument for ‘ecological consciousness’ to challenge environmental and human exploita- tion. Such consciousness would replace the Enlightenment dualist ‘illusion’ with a post-Enlightenment holism that ‘fully integrated’ humanity within the ecosphere. By the 2000s, deep ecology had fallen out of favour with many green scholars. And, in 2014, it was described as a ‘spent force’. However, this decline has coincided with calls by influential advocates of ‘corporate social and environmental responsibility’ (CSER) and (...) ‘green growth’ (GG) that urge market actors to ensure voluntarily that social and environmental ‘problems are addressed holistically’. Given that CSER and GG have also been associ- ated with rent seeking, privatisation and reducing incomes of the poor, could it be that some of deep ecology’s once radical ideas today serve to legitimate forms of exploitation that they once decried? A critical realist perspective can problematise deep ecology’s highly normative response to exploitation and alienation. By settling ontological questions in favour of holism and promoting moral voluntarism, deep ecology failed to address how actors with different interests might adopt green ideas. This blind spot can be cured by focusing instead on the active deployment of ethics, morality, values, beliefs, ideas and knowledges by political actors in historically specific contexts. Both critical normative and critical realist modes of engaging with environmental values are important; however, at a time when holism and voluntarism are gaining influence, critical realism offers helpful insight into the uses and abuses of such values. (shrink)

Grounded in newer French socio-political philosophy, this text deals with the paradoxical situation in which the interpretation of society as well as the relation between the individual and the social remains ambiguous even though autonomy and interrogation of the social emerges: Autonomy remains trapped between transcendence and immanence. Modernity is when society claims to know that it has to produce its own myths. Traditional societies did not relate to their myths as if they were their own products. Nevertheless, as soon (...) as the traditional religious points of reference are disclosed and disappear, the community gives itself new points of reference in order to put the social at a distance. Thus the social creates a distance to itself and a mirror for itself in order to perceive itself and work upon itself. The article explores the questions of why this is so and the difference between heteronomous and autonomous autotranscendence. (shrink)

Melanesian ethnography has been a substantial and enduring presence in Strathern’s comparative project of anthropology. The cornerstone of this project was The Gender of the Gift, where a model was established for demonstrating the analogies between Melanesian societies based on a system of common differences. The comparisons created in this work were centred on a real and radical divide between Melanesia and the West. Strathern’s subsequent comparative work has examined the debates surrounding new social and technological forms in the West (...) (e.g. new genetic and reproductive technologies) through drawing analogies with Melanesian social forms; she has simultaneously highlighted the limits of these comparisons. Her intention in this comparative project has been to expand the range of concepts and language used to understand western social and technological innovations that potentially affect the world at large, so that debate is not simply circumscribed by western preoccupations and concerns. As mediated through the analysis of Strathern and the other Melanesian anthropologists she draws on, the voices and interests of non-westerners can potentially inform and even reform the grounds of such deliberations. (shrink)

This article revisits the "harmony doctrine" school of economics and its distinctive understanding of how ethics and economics intersect. Harmony doctrine thinkers staked out a “natural” understanding of economic phenomena that in many ways fused the classical political economy of Adam Smith with the earlier French Physiocratic School. Their metaphysically grounded interpretation was largely eclipsed by the developments of utilitarian and marginalist schools by the end of the nineteenth century. Yet harmony doctrine thinking adhered to a distinct understanding of how (...) ethical processes and outcomes play out within the economic sphere that has to date gone under examined by business ethicists. This paper outlines three characteristics of harmony doctrine views: the belief in curative forces empowered to "heal" the economic order, a dichotomous interpretation of the economic realm that distinguishes the “natural” from the “artificial,” and an overarching belief in a harmonious social order actualized by cooperative interdependencies within economic enterprises. Despite falling into obscurity in the economic discipline, all these ideas found new life in intellectual currents of organizational and political thought at the turn of the twentieth century. After surveying these historical developments, this article concludes by demonstrating how harmony doctrine thinking helpfully illuminates persisting metaphysical dimensions of contemporary business ethics. (shrink)

Others consider them as conditions, positions, or roles assumed in society. Such theoretical uncertainty is followed by a similarly uncertain empirical classification. This confusion probably exists because classes are not ostensible objects but concepts, that is, culturally and mutually constructed cognitive schemas. In order to see classes, scientists have to agree about the culturally framed discourse to use. This has not yet happened. This seems to be the main cause of the endless conflict in the debate on social stratification. This (...) article documents that "class," before becoming a scientific construct, was a "folk category." From ordinary language, "class" reached the social sciences, passing through the natural sciences. (shrink)