This essay investigates the structure of fiduciary obligations, specifically the obligation of loyalty. Fiduciary obligations differ from promissory obligations with respect to the possibility of “accidental compliance.” Promissory obligations can be satisfied through behavior that conforms to a promise, even if that behavior is done for inappropriate reasons. By contrast, fiduciary loyalty necessarily has an intentional dimension, one that prevents satisfaction through accidental compliance. The intentional dimension of fiduciary loyalty is best described by what we call the “shaping” account. This (...) account both explains the conscientiousness that loyalty demands and improves on other accounts of the intentional dimension of loyalty. Our analysis challenges two of the most prominent ways of conceptualizing fiduciary obligations. “Contractarianism” configures fiduciary obligations as a species of contractual duties. The view that we call “proscriptivism” reduces fiduciary obligations to the juridical prohibitions that apply to fiduciaries. Neither of these approaches is satisfactory, because each neglects the intentional dimension of fiduciary loyalty. (shrink)

The explanation of promising is fraught with problems. In particular the problem that promises can be valid even when nothing good comes of keeping the promise (the problem of ‘bare wrongings’), and the bootstrapping problem with explaining how the mere intention to put oneself under an obligation can create such an obligation have been recognized since Hume’s famous discussion of the topic. In part 1, I showed that two main views of promising which attempt to solve these problems fall short (...) of explaining the promissory obligation nonetheless. In this second part, I will explain what it takes to show that there is such an obligation (rather than just a reason of a different kind) to keep one’s promises, and discuss a further account of promissory obligation – the normative powers account – which perhaps stands a chance to solve both the bootstrapping and the bare wrongings problem (or rather, to show why we needn’t be worried about those problems after all), and to successfully explain promissory obligation. It comes in at least two different forms: one which regards the normative power to promise as based on our ability to form special relationships, and another which regards the promisee’s ‘authority interest’ as the basis. (shrink)

The explanation of promising is fraught with problems. In particular the problem that promises can be valid even when nothing good comes of keeping the promise (the problem of ‘bare wrongings’), and the bootstrapping problem with explaining how the mere intention to put oneself under an obligation can create such an obligation have been recognized since Hume’s famous discussion of the topic. There are two influential accounts of promising, and promissory obligation, which attempt to solve the problems: The expectation account (...) and the practice account. While those accounts solve both the bootstrapping problem and the problem of bare wrongings, it turns out that they encounter numerous problems of their own. (shrink)

Conventionalists about promising believe that it is wrong to break a promise because the promisor takes advantage of a useful social convention only to fail to do his part in maintaining it. Anti-conventionalists claim that the wrong of breaking a promise has nothing essentially to do with a social convention. Anti-conventionalists are right that the social convention is not necessary to explain the wrong of breaking most promises. But conventionalists are right that the convention plays an essential role in any (...) satisfactory account of promising. A new conventionalism can explain this by appealing to special features of social conventions. Two of these special features have important implications for any moral requirements they mediate, such as the requirement to keep one's promises and the moral requirements attached to social or occupational roles. First, these requirements will not depend on features of a situation that are inaccessible to typical participants in the convention. Second, these requirements often cannot be tailored to fit the overly unusual circumstances of participants. (shrink)

p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Times} Thomas Scanlon provides a theory of why we ought to keep our promises according to which the wrong of breaking a promise is a moral wrong that does not depend on any social practice. Instead a promise provides a recipient with assurance and the value of assurance establishes a moral obligation to keep our promises. However, it is often charged that theories like Scanlon’s are untenable because they are subject to a (...) vicious circularity. I address some recent critics of Scanlon’s theory, all of whom maintain that his account does not adequately show how a promise provides assurance and therefore does not overcome the charge of circularity in explaining why we are obligated to keep our promises. I revise Scanlon’s theory and show how a promise can provide a recipient with assurance, demonstrating that Scanlon’s account is a tenable theory of why we have an obligation to keep our promises. (shrink)