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Economic Analysis, Moral Philosophy and Public Policy

New York: Cambridge University Press. Edited by Michael S. McPherson (2006)

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  1. What counts as relevant criticism? Longino's critical contextual empiricism and the feminist criticism of mainstream economics.Teemu Lari - 2024 - Studies in History and Philosophy of Science 104:88-97.
    I identify and resolve an internal tension in Critical Contextual Empiricism (CCE) – the normative account of science developed by Helen Longino. CCE includes two seemingly conflicting principles: on one hand, the cognitive goals of epistemic communities should be open to critical discussion (the openness of goals to criticism principle, OGC); on the other hand, criticism must be aligned with the cognitive goals of that community to count as “relevant” and thus require a response (the goal-relativity of response-requiring criticism principle, (...)
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  • Value-free paradise is lost. Economists could learn from artists.Aleksander Ostapiuk - 2020 - Annales. Ethics in Economic Life 23 (4):7-33.
    Despite the conclusions from the contemporary philosophy of science, many economists cherish the ideal of positive science. Therefore, value-free economics is still the central paradigm in economics. The first aim of the paper is to investigate economics' axiomatic assumptions from an epistemological perspective. The critical analysis of the literature shows that the positive-normative dichotomy is exaggerated. Moreover, value-free economics is based on normative foundations that have a negative impact on individuals and society. The paper's second aim is to show that (...)
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  • The Eclipse of Value-Free Economics. The concept of multiple self versus homo economicus.Aleksander Ostapiuk - 2020 - Wrocław, Polska: Publishing House of Wroclaw University of Economics and Business.
    The books’ goal is to answer the question: Do the weaknesses of value-free economics imply the need for a paradigm shift? The author synthesizes criticisms from different perspectives (descriptive and methodological). Special attention is paid to choices over time, because in this area value-free economics has the most problems. In that context, the enriched concept of multiple self is proposed and investigated. However, it is not enough to present the criticisms towards value-free economics. For scientists, a bad paradigm is better (...)
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  • Are There Moral Limits to Wage Inequality?Kory P. Schaff - 2021 - In Anders Örtenblad (ed.), Equal Pay for All. pp. 167-81.
    Income inequality in democratic societies with market economies is sizable and growing. One reason for this growth can be traced to unequal forms of compensation that employers pay workers. Democratic societies have tackled this problem by enforcing a wage standard that all workers are paid regardless of education, skills, or contribution. This raises a novel question: Should there be equal pay for all workers? To answer it, we need to investigate some factors that are relevant to the unequal conditions of (...)
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  • Some Truths Don’t Matter: The Case of Strong Sustainability.C. Tyler DesRoches - 2019 - Ethics, Policy and Environment 22 (2):184-196.
    1. Social scientific models of sustainable development show that, for the goal of sustainability, the aggregate level of capital must remain intact. With respect to these models, there is no greate...
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  • Are Measures of Well-Being Philosophically Adequate?Willem van der Deijl - 2017 - Philosophy of the Social Sciences 47 (3):209-234.
    The concept of well-being is increasingly gaining acceptance as an object of science, and many different types of well-being measures have been developed. A debate has emerged about which measures are able to capture well-being successfully. An important underlying problem is that there is no unified conceptual framework about the nature of well-being—a hotly debated topic of philosophical discussion. I argue that while there is little agreement about the nature of well-being in philosophy, there is an important agreement on some (...)
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  • Philosophy and Economics.D. Wade Hands - 2008 - In S. N. Durlauf & L. E. Blume (eds.), The New Palgrave Dictionary of Economics, 2nd edition. Palgrave. pp. 410-420.
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  • (1 other version)Philosophy of economics.Daniel M. Hausman - 2008 - Stanford Encyclopedia of Philosophy.
    This is a comprehensive anthology of works concerning the nature of economics as a science, including classic texts and essays exploring specific branches and schools of economics. Apart from the classics, most of the selections in the third edition are new, as are the introduction and bibliography. No other anthology spans the whole field and offers a comprehensive introduction to questions about economic methodology.
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  • Public Policy, Consequentialism, the Environment, and Non-Human Animals.Mark Budolfson & Dean Spears - 2020 - In Douglas W. Portmore (ed.), The Oxford Handbook of Consequentialism. New York, USA: Oup Usa. pp. 592-615.
    The focus of this chapter is public policy and consequentialism, especially issues that arise in connection with the environment – i.e. the natural world, including non-human animals. We integrate some of the existing literature on environmental economics, welfare economics, and policy with the literature on environmental values and philosophy. The emphasis on environmental policy is motivated by the fact that it is arguably the most philosophically interesting and challenging application of consequentialism to policy, as it includes all the challenges of (...)
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  • Nudging and Participation: a Contractualist Approach to Behavioural Policy.Johann Jakob Häußermann - 2020 - Philosophy of Management 19 (1):45-68.
    As behavioural economics reveals, human decision-making deviates from neoclassical assumptions about human behaviour and people (often) fail to make the ‘right’ welfare-enhancing choice. The purpose of Sunstein and Thaler’s concept of ‘nudge’ is to improve individual welfare. To provide normative justification, they argue that the only relevant normative criterion is whether the individual is ‘better off as judged by themselves’, so that the direction in which people are to be nudged is defined by their own preferences. In light of behavioural (...)
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  • The Pareto Argument for Inequality Revisited.A. R. J. Fisher & Edward F. McClennen - manuscript
    One of the more obscure arguments for Rawls’ difference principle dubbed ‘the Pareto argument for inequality’ has been criticised by G. A. Cohen (1995, 2008) as being inconsistent. In this paper, we examine and clarify the Pareto argument in detail and argue (1) that justification for the Pareto principles derives from rational selfinterest and thus the Pareto principles ought to be understood as conditions of individual rationality, (2) that the Pareto argument is not inconsistent, contra Cohen, and (3) that the (...)
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  • Foundations of Contemporary Revealed Preference Theory.D. Wade Hands - 2013 - Erkenntnis 78 (5):1081-1108.
    This paper examines methodological issues raised by revealed preference theory in economics: particularly contemporary revealed preference theory. The paper has three goals. First, to make the case that revealed preference theory is a broad research program in choice theory—not a single theory—and understanding this diversity is essential to any methodological analysis of the program. Second, to explore some of the existing criticisms of revealed preference theory in a way that emphasizes how the effectiveness of the critique depends on the particular (...)
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  • Democratic Rights in the Workplace.Kory P. Schaff - 2012 - Inquiry: An Interdisciplinary Journal of Philosophy 55 (4):386-404.
    Abstract In this paper, I pursue the question whether extending democratic rights to work is good in the broadest possible sense of that term: good for workers, firms, market economies, and democratic states. The argument makes two assumptions in a broadly consequentialist framework. First, the configuration of any relationship among persons in which there is less rather than more coercion makes individuals better off. Second, extending democratic rights to work will entail costs and benefits to both the power and authority (...)
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  • The Singular Plurality of Social Goods / La singolare pluralità dei beni sociali.Marco Emilio - 2022 - Dissertation, Université de Neuchâtel
    According to some philosophers and social scientists, mainstream economic theories currently play an unprecedented role in shaping human societies. This phenomenon can be linked to the dissemination of methodological individualism, where common goods are interpreted as reducible to aggregates of individuals' well-being. Nonetheless, some emergent difficulties of economics in coping with global institutional issues have encouraged some authors to revise that paradigm. In the last three decades, there has been a parallel growing philosophical interest in investigating social sciences' epistemological and (...)
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  • Mark Blaug on the Normativity of Welfare Economics.D. Wade Hands - 2013 - Erasmus Journal for Philosophy and Economics 6 (3):1-25.
    Abstract: This paper examines Mark Blaug's position on the normative character of Paretian welfare economics: in general, and specifically with respect to his debate with Pieter Hennipman over this question during the 1990s. The paper also clarifies some of the confusions that emerged within the context of this debate, and closes by providing some additional arguments supporting Blaug's position that he himself did not provide.
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  • Putting ethics and economic rationality together: an Aristotelian and philosophical approach.Regina Maria da Cruz Queiroz - 2014 - Business Ethics: A European Review 24 (3):332-346.
    The gap between economic rationality, as embedded in utility maximization, and ethical rationality, identified with a set of rules that prescribe the right course of action, has been a challenging issue for economists, philosophers, and business ethicists. Despite the difference and the noncompetition between a scientific economic approach of economics and business ethics, and a behavioral and philosophical one, we highlight the importance of the Aristotelian concept of prudence or phronesis applied to business activity. Phronesis allows for a conceptualization of (...)
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  • Gender Issues in Corporate Leadership.Devora Shapiro & Marilea Bramer - 2013 - Handbook of the Philosophical Foundations of Business Ethics:1177-1189.
    Gender greatly impacts access to opportunities, potential, and success in corporate leadership roles. We begin with a general presentation of why such discussion is necessary for basic considerations of justice and fairness in gender equality and how the issues we raise must impact any ethical perspective on gender in the corporate workplace. We continue with a breakdown of the central categories affecting the success of women in corporate leadership roles. The first of these includes gender-influenced behavioral factors, such as the (...)
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  • Time, justice and the future of mobility : Essays in philosophy of transport.Maria Nordström - unknown
    This thesis in philosophy consists of an introduction and five papers on three themes related to transport: valuations of time, the metric of transport justice, and future mobility solutions. The first paper analyses the properties of time as an economic resource taking into account literature on behaviour concerning time. The intent is to add to the understanding of the underlying assumption of transferability between time and money in the context of transportation. The second paper is on the metric of transport (...)
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  • Order Ethics: Bridging the Gap Between Contractarianism and Business Ethics.Christoph Luetge, Thomas Armbrüster & Julian Müller - 2016 - Journal of Business Ethics 136 (4):687-697.
    Contract-based approaches have been a focus of attention in business ethics. As one of the grand traditions in political philosophy, contractarianism is founded on the notion that we will never resolve deep moral disagreement. Classical philosophers like Hobbes and Locke, or recent ones like Rawls and Gaus, seek to solve ethical conflicts on the level of social rules and procedures. Recent authors in business ethics have sought to utilize contract-based approaches for their field and to apply it to concrete business (...)
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  • Moral Asymmetries and Economic Evaluations of Climate Change: The Challenge of Assessing Diverse Effects.Blake Francis - 2016 - In Adrian J. Walsh, Säde Hormio & Duncan Purves (eds.), The Ethical Underpinnings of Climate Economics. Routledge. pp. 141-162.
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  • Let Me Save You Some Time... On Valuing Travelers' Time in Urban Transportation.Maria Nordström, Sven Ove Hansson & Muriel Beser Hugosson - 2019 - Essays in Philosophy 20 (2):206-229.
    Systems of urban transportation are largely shaped through planning practices. In transport economics, the benefits of infrastructure investments consist mainly of travel time savings calculated using monetary values of time. The economic interpretation of the value of travel time has significantly shaped our urban environment and transportation schemes. However, there is often an underlying assumption of transferability between time and money, which arguably does not sufficiently take into account the specific features of time. In this paper, we analyze the various (...)
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  • Ethics, economics, and markets: an interview with Debra Satz.Debra Satz - 2010 - Erasmus Journal for Philosophy and Economics 3 (1):68.
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  • (1 other version)Corporate governance reform: character‐building structures.Patricia Grant & Peter McGhee - 2014 - Business Ethics: A European Review 23 (2):125-138.
    This paper argues that corporate governance reformers in Anglo-American jurisdictions should consider a different approach in their quest for better corporate governance. Traditionally, corporate governance reform has taken a structural approach, tightening the rules around the number of independent directors required on boards and committees and fine-tuning the definition of independence. However, such an approach has failed to achieve effective corporate governance. Moreover, this approach is informed by the arguably discredited assumption that individuals are rational self-interest utility maximizers. This conceptual (...)
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  • The inexact and separate philosophy of economics: an interview with Daniel Hausman.Daniel M. Hausman - 2011 - Erasmus Journal for Philosophy and Economics 4 (1):67.
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  • Deepening transparency about value-laden assumptions in energy and environmental modelling: improving best practices for both modellers and non-modellers.Mark Budolfson, John Bistline & Blake Francis - 2020 - Climate Policy 20.
    Transparency and openness are broadly endorsed in energy and environmental modelling and analysis, but too little attention is given to the transparency of value-laden assumptions. Current practices for transparency focus on making model source code and data available, documenting key equations and parameter values, and ensuring replicability of results. We argue that, even when followed, these guidelines are insufficient for achieving deep transparency, in the sense that results often remain driven by implicit value-laden assumptions that are opaque to other modellers (...)
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  • Preference satisfaction and welfare economics.Daniel Hausman - 2009 - Economics and Philosophy 25 (1):1–25.
    The tenuous claims of cost-benefit analysis to guide policy so as to promote welfare turn on measuring welfare by preference satisfaction and taking willingness-to-pay to indicate preferences. Yet it is obvious that people's preferences are not always self-interested and that false beliefs may lead people to prefer what is worse for them even when people are self-interested. So welfare is not preference satisfaction, and hence it appears that cost-benefit analysis and welfare economics in general rely on a mistaken theory of (...)
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  • Economics and economic justice.Marc Fleurbaey - 2008 - Stanford Encyclopedia of Philosophy.
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  • Sustainable Stakeholder Capitalism: A Moral Vision of Responsible Global Financial Risk Management.Joseph A. Petrick - 2011 - Journal of Business Ethics 99 (S1):93-109.
    The author identifies the major micro-, meso-, and macro-level financial risk shifting factors that contributed to the Great Global Recession and how the absence of a compelling moral vision of responsible financial risk management perpetuated the economic crisis and undermined the recovery by blind reliance upon insufficiently accountable bailouts. The author offers a new theoretical model of Sustainable Stakeholder Capitalism by exercising moral imagination which inclusively and moderately balances four multi-level factors: types of capitalism, moral theories, human nature drives, and (...)
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  • Wilfred Beckerman's Economics as applied ethics: value judgements in welfare economics. London: Palgrave Macmillan, 2011, 240 pp. [REVIEW]Jonathan B. Wight - 2013 - Erasmus Journal for Philosophy and Economics 6 (1):122.
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  • Aligning Innovation and Ethics: an Approach to Responsible Innovation Based on Preference Learning.Johann Jakob Häußermann & Fabian Schroth - 2020 - Philosophy of Management 19 (3):349-364.
    New technologies not only contribute greatly to society and the economy; they also involve fundamental societal shifts, challenging our values and ideas about ourselves and the world. With a view to aligning technological change and innovation with ethical values, the concept of responsible innovation advocates the inclusion of a variety of stakeholders, in particular from society. In shifting moral responsibility towards the producers of innovations, responsible innovation rejects the standard normative economic view that the ethical evaluation of innovations is a (...)
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  • Ethics in economics: lessons from human subjects research.Megan Blomfield - 2012 - Erasmus Journal for Philosophy and Economics 5 (1):24-44.
    Many economists, it is said, “are inclined to deny that moral philosophy has anything to do with economics” . In this paper I challenge such inclinations bydrawing an analogy between economic interventions and humansubjects research. It is undeniable that investigators engaged in thelatter should adhere to specific ethical principles. I argue that analogousfeatures of economic interventions should lead us to recognise thatsimilar ethical concerns actually arise in both activities, and thusthat economic interventions should also be conducted in accordancewith ethical principles. (...)
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  • The Alignment of Morality and Profitability in Corporate Social Responsibility.J. Semeniuk - unknown
    Nowadays most of the big companies pride themselves on their social responsibility. When visiting the websites of IBM, Cisco, ING, Philips, BP, etc., one will easily find a tab called ‘corporate social responsibility’, or ‘sustainability’.1 Here, companies describe how they contribute to the community and balance their impact on the environment. Why do they do that? There is a long tradition of moral considerations for commerce. In the early days of capitalism, the goal of the business was solely to make (...)
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  • Benevolence, justice, well-being and the health gradient.Daniel M. Hausman - 2009 - Public Health Ethics 2 (3):235-243.
    The health gradient among those who are by historical standards both remarkably healthy and well-off is of considerable moral importance with respect to benevolence, justice and the theory of welfare. Indeed it may help us to realize that for most people the good life lies in close and intricate social ties with others which can flourish only when inequalities are limited. The health gradient suggests that there is a story to be told in which egalitarian justice, solidarity, health and well-being (...)
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  • Is time money? Philosophical perspectives on the monetary valuation of travel time.Maria Nordström - unknown
    This licentiate thesis consists of an introduction and three papers discussing various aspects of time as a commodity and the practice of valuing travel time. The first paper is an analysis of the properties of time as an economic resource taking into account literature on behavior with regard to time. The intent is to provide better understanding of the underlying assumption of transferability between time and money in the context of transportation. The second paper builds on the analysis in the (...)
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  • Moral economic axioms, preference formation and welfare in Islamic economics and business.Necati Aydin - 2018 - Asian Journal of Business Ethics 7 (1):21-36.
    Consumers and producers aim to maximize their welfare through economic transactions. Their welfare is determined by choices and preferences. Therefore, understanding social and economic welfare projected by conventional and Islamic economics requires exploring their underlying paradigms and axioms for preference formation, choices, and welfare maximization. Even though conventional economics assumes that preferences are given, it actually considers that they are driven by self-interest. It does not discuss preference formation along determining moral axioms. Rather, it starts from revealed preferences to understand (...)
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  • Role of normativity for the explanation of Norm-Conformity.Catherine Herfeld - unknown
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  • Egalitarianism and the Great Recession: A Tale of Missed Connections?Pietro Maffettone - 2018 - Res Publica 24 (2):237-256.
    The main aim of this paper is to act as a corrective to the comparatively deafening silence of egalitarian political philosophy’s response to the Great Recession. The paper thus provides an accessible analysis of a new strand of empirical research into the causes of the crisis. This new literature, which has largely gone unnoticed by the broader philosophical community, maintains that the main driver of financial instability is income and wealth inequality coupled with income stagnation at the bottom of the (...)
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  • Prediction and Novel Facts in the Methodology of Scientific Research Programs.Wenceslao J. Gonzalez - 2015 - In Philosophico-Methodological Analysis of Prediction and its Role in Economics. Cham: Imprint: Springer. pp. 103-124.
    In the methodology of scientific research programs (MSRP) there are important features on the problem of prediction, especially regarding novel facts. In his approach, Imre Lakatos proposed three different levels on prediction: aim, process, and assessment. Chapter 5 pays attention to the characterization of prediction in the methodology of research programs. Thus, it takes into account several features: (1) its pragmatic characterization, (2) the logical perspective as a proposition, (3) the epistemological component, (4) its role in the appraisal of research (...)
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  • Jonathan Wight's Ethics in economics: an introduction to moral frameworks. Stanford: Stanford University Press, 2015, 275 pp. [REVIEW]George F. DeMartino - 2016 - Erasmus Journal for Philosophy and Economics 9 (1):156.
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  • Market Reality Versus Religious Morality: Empirical Evidence from the Saudi Arabian Labor Market.Necati Aydin & Aljawhara Ibrahim Alquayid - 2019 - Journal of Business Ethics 156 (3):679-698.
    The paper explores Islamic morality within labor market realities. It presents Islamic moral axioms that are expected to guide employer–employee relationships. It provides an extensive review of Islamic moral ideals related to fairness in the labor market. Based on survey data from 319 individuals in the Saudi labor market, it tests three hypotheses related to religiosity, secular aspirations, and perception and practice of fairness in the labor market. Using multinomial logistic regression, the findings from several models clearly support all three (...)
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  • The Devils in the DALY: Prevailing Evaluative Assumptions.Carl Tollef Solberg, Preben Sørheim, Karl Erik Müller, Espen Gamlund, Ole Frithjof Norheim & Mathias Barra - 2020 - Public Health Ethics 13 (3):259-274.
    In recent years, it has become commonplace among the Global Burden of Disease study authors to regard the disability-adjusted life year primarily as a descriptive health metric. During the first phase of the GBD, it was widely acknowledged that the DALY had built-in evaluative assumptions. However, from the publication of the 2010 GBD and onwards, two central evaluative practices—time discounting and age-weighting—have been omitted from the DALY model. After this substantial revision, the emerging view now appears to be that the (...)
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