This dissertation undertakes a philosophical analysis of “natural capital” and argues that this concept has prompted economists to view Nature in a radically novel manner. Formerly, economists referred to Nature and natural products as a collection of inert materials to be drawn upon in isolation and then rearranged by human agents to produce commodities. More recently, nature is depicted as a collection of active, modifiable, and economically valuable processes, often construed as ecosystems that produce marketable goods and services gratis. Nature (...) is depicted as consisting of various unproduced mechanisms or “natural machines” that are first discovered and then channeled so as to serve human ends. In short, nature as an ideal is a kind of garden that is characterized by natural objects purposefully arranged by intentional human agents. This dissertation first lays out working definitions of the key terms, such as capital and Nature, and then traces the historical roots of natural capital in the writings of eminent classical political economists, such as Adam Smith, John Stuart Mill, and Karl Marx. I then examine the question of substitutes for “critical natural capital”, and argue that the preservation paradox is warranted: no one can restore or preserve a part of Nature without turning it into an artifact. Following the recent work of Debra Satz and Michael Sandel, I finish my dissertation by situating the question of natural capital in the broader context of whether some goods should not be for sale, particularly those I define as Basic Ecological Goods. (shrink)

The notion that business organizations are akin to Aristotelian political communities has been a central feature of research into virtue ethics in business. In this article, I begin by outlining this “community thesis” and go on to argue that psychological research into the “just world fallacy” presents it with a significant challenge. The just world fallacy undermines our ability to implement an Aristotelian conception of justice, to each as he or she is due, and imperils the relational equality required for (...) shared participation in communities. In the final section, I offer a description of what Aristotelian community might look like within organizations, and some suggestions about how it may be possible to resist the challenge posed by the just world fallacy. (shrink)

Scholarship on Aristotle’s NICOMACHEAN ETHICS (hereafter “the Ethics”) flourishes in an almost unprecedented fashion. In the last ten years, universities in North America have produced on average over ten doctoral dissertations a year that discuss the practical philosophy that Aristotle espouses in his Nicomachean Ethics, Eudemian Ethics, and Politics. Since the beginning of the millennium there have been three new translations of the entire Ethics into English alone, several more that translate parts of the work into English and other modern (...) languages, and half a dozen collections of new articles discussing Aristotle’s Ethics. Such an outpouring of scholarship has produced an almost unmanageable wave of books, articles, and reviews. Through my topical bibliography, I seek to organize this wealth of scholarly writing so as to make it manageable both to scholars working across the disciplines of philosophy, classics, history, and politics, and to scholars pursuing theses on specific topics within the Ethics. The bibliography takes as its model and is much indebted to that compiled by Barnes, Schofield, and Sorabji in their Articles on Aristotle, Volume 2: Ethics and Politics (1977), which was further updated and incorporated into the complete bibliography to all of Aristotle’s writings in Barnes’s Cambridge Companion to Aristotle (1995). Although I have taken guidance from their model, my bibliography differs in one main respect. Whereas Barnes et al. were more selective and annotated their bibliography, I have been more comprehensive in my inclusion of items. I have sought to include all books and journal articles concerned with the Ethics written in English over the last 120 years; additionally, I have sought to include representative and central works of scholarship written on the Ethics in French, German, and Italian during the same period of time. (shrink)

Seaford’s recent work has revived and further substantiated a line of argument that had been developed by Marxist scholars claiming a central role for money in the genesis of philosophical thought. In a nutshell, this line of argument holds that beneath the abstractions in which philosophy breathes and with which philosophy works we can trace the real abstraction of the money form as embodiment of abstract social labour. Following this perspective, I will try to demonstrate the role money plays in (...) Plato’sRepublic, focusing on Booki. (shrink)

This paper interprets Karl Polanyi through dialectical critical realism. The paper maintains that this interpretation offers Polanyi methodological coherence and philosophical support. It further provides dialectical critical realism with an exemplar of explanatory critique. It is argued that the social theory of Polanyi aims at the demystification of market-systems as they are theoretically constructed by both orthodox and heterodox accounts of capitalism. Dialectical critical realism is best capable of situating the theoretical accomplishment of Polanyi’s historical and dialectical critiques of social (...) being. (shrink)

Modality and Anti-Metaphysics critically examines the most prominent approaches to modality among analytic philosophers in the twentieth century, including essentialism. Defending both the project of metaphysics and the essentialist position that metaphysical modality is conceptually and ontologically primitive, Stephen McLeod argues that the logical positivists did not succeed in banishing metaphysical modality from their own theoretical apparatus and he offers an original defence of metaphysics against their advocacy of its elimination. -/- Seeking to assuage the sceptical worries which underlie modal (...) anti-realism, McLeod provides an original contribution to essentialist epistemology, engaging with current debates about modality and suggesting that standard essentialist approaches to some issues in the philosophies of logic and language require revision. -/- This book offers valuable insights to professional philosophers, postgraduates and advanced undergraduates interested in metaphysics, philosophy of logic or the history of twentieth-century analytic philosophy. (shrink)

It is generally agreed that the current methods of providing health care in the West need to be reformed. Such reforms must operate within the practical limitations to which any future system of health care will be subject. These limitations include an increase in the demand for costly end-of-life health care coupled with a reduction in the proportion of the population who are working taxpayers (and hence a reduction in the proportionate amount of health care funding that can be secured (...) through taxation) and the fact that the imposition of bureaucratic regulations on health care systems is costly. Recognizing these limitations should naturally lead one to consider market-based reforms. Yet despite the practical impetus for such reforms, there is still widespread concern that market-based health care is unethical. The purpose of this paper is to address this concern and, in so doing, to pave the way for the market-based reform of health care to proceed. (shrink)

A renewed concern with Aristotle’s thought about the economic aspects of human life and society can be observed. Aristotle dealt with the economic issues in his practical philosophy. He thus considered ‘the economic’ within an ethical and political frame. This vision is coherent with a specific ontology of ‘the economic’ according to Aristotle. In a recent paper, I analysed this ontology and left its consequences, especially for Ethics and Politics, for another paper. In this article, I firstly summarise the reasoning (...) and conclusions of the aforementioned paper. Then, I extract the ethical and political “lessons” of the Aristotelian conception. I finally add a section with epistemological “lessons”, and consequences for the teaching of Economics. (shrink)

Christian economic theology is distinguished from Christian social ethics by its methodological reflection on the emergence, formation, and proper boundaries of the economic sphere, as well as transcendental reflection on the conditions of possibility of economic science. In practice, this often amounts to anxiety about the authority of Christianity in the economic sphere, as well as about the extent to which Christianity can be held responsible for the system of impersonal economic domination known as capitalism. This review essay draws upon (...) three recent works on or about Christian economic theology, and argues that this genre's anxiety about Christian authority manifests in the ways that it draws temporal boundaries between ancient, medieval, and modern economies. Ultimately, its ambivalence about economy itself is traceable to Aristotle's understanding of money as containing two natures, one defined by quality (use value) and the other by quantity (exchange value). Christianity here becomes a cipher for quality. (shrink)

European Journal of Philosophy, EarlyView.

Resumen En el presente trabajo nos acercaremos a las reflexiones aristotélicas sobre lo económico, desde la perspectiva de Karl Polanyi, precisamente porque éste acude al filósofo griego con el ánimo de obtener elementos útiles para construir una profunda crítica de la moderna sociedad de mercado. Aristóteles intuyó el futuro incierto de un orden social devorado por relaciones económicas en hipertrófica expansión. En su época, desde luego, tal amenaza sólo era potencial y jamás vio la culminación efectiva de nada semejante. No (...) obstante, a pesar de ello, fue capaz de visualizar el significado último de lo que estaba en juego, además pudo comprender que un crecimiento desmedido y descontrolado de las relaciones mercantiles acabaría trastocando irremediablemente el equilibrio cívico; entendió que la extensión irrestricta del deseo de ganancia a todos los lazos humanos supondría una potente amenaza contra la médula misma de la comunidad política.This study approaches Aristotelian reflections on economy through the eyes of Karl Polanyi, as he resorts to the Greek philosopher to find useful elements when building a profound criticism of the modern market society. Aristotle intuited the uncertain future of a social order devoured by economic relations expanding at a hypertrophic rate. In his time, indeed, this was only a potential threat -he never saw the effective culmination of anything like what we are seeing today-. But he was nevertheless able to see the ultimate meaning of what was at stake, and to understand that the unmeasured, uncontrolled growth of market relations would irremediably affect the civic balance. He understood that the unrestricted extension of the desire for profit to all human ties would be a powerful threat to the heart of the political community. (shrink)

Normal 0 false false false EN-US X-NONE X-NONE Normal 0 false false false EN-US ZH-TW X-NONE It is commonly believed that impartial utilitarian moral theories have significant demands that we help the global poor, and that the partial virtue ethics of Mencius and Aristotle do not. This ethical partiality found in these virtue ethicists has been criticized, and some have suggested that the partialistic virtue ethics of Mencius and Aristotle are parochial (i.e., overly narrow in their scope of concern). I (...) believe, however, that the ethics of Mencius and Aristotle are both more cosmopolitan than many presume and also are very demanding. In this paper, I argue that the ethical requirements to help the poor and starving are very demanding for the quintessentially virtuous person in Mencius and Aristotle. The ethical demands to help even the global poor are demanding for Mencius’ jun-zi ( 君子 chün-tzu / junzi ) and Aristotle’s megalopsuchos . I argue that both the jun-zi and megalopsuchos have a wide scope of concern for the suffering of poor people. I argue that the relevant virtues of the jun-zi and megalopsuchos are also achievable for many people. The moral views of Mencius and Aristotle come with strong demands for many of us to work harder to alleviate global poverty. . (shrink)

This paper explores the relationship between revolution and corruption in Jean Genet’s accounts of the Palestinian movement in his final work, Prisoner of Love. For Genet, corruption does not simply expose the actions of a revolutionary subject as an empty impersonation, performed for the actual ends of acquiring personal power and fortune. Rather, it exposes the ‘pretension’ inherent in the revolution it undermines as well as in the accumulation of value. For Genet, the misappropriation of money by the Palestinian leadership (...) makes manifest the imaginary character of both devotion to a revolutionary cause and greed for the commodity-fetish. Corruption, in other words, betrays revolution as well as the ‘imaginary wealth and power’ which the ‘game of revolution’ attempts to destroy. (shrink)

Le marché constitue le point crucial du débat qui a régné depuis le xvme siècle dans l'histoire de l'économie antique. La question a été rendue particulièrement complexe pour le monde grec parce que beaucoup d'historiens et d'anthropologues (comme Karl Polanyi) y situent la naissance de l'économie de marché comme une rupture avec la période antérieure. L'histoire doit abandonner une position trop dogmatique sur cette émergence du marché et considérer d'abord les étapes de la constitution d'une place de marché, l'agora, à (...) partir de la fin de l'époque archaïque. La cité grecque intervient de cette manière dans les échanges. Dans cet article sont étudiées ces interventions sur les conditions de la vente et de lachat, les pratiques, les valeurs et les prix, les approvisionnements, afin de comprendre l'innovation réelle que cela représente. (shrink)

What are the contents, limits, and possibilities of Aristotle’s works for critical thinking about money? Recent scholarship has (re)turned to Aristotle as an authority for two key political approaches to money. The first aims to democratize the governance of monetary institutions in order to realize more just economic outcomes. The second seeks to prevent money, or its inherently deleterious excesses, from corrupting political actors and political life. Arguing that these two approaches are insightful, important, and incomplete, I reengage Aristotle’s account (...) of money across the Nicomachean Ethics and the Politics to theorize money as a vital but underexplored means of political subject formation. I illuminate how the use of money produces collective and constitutive relations that emerge by way of people’s engagements and entanglements with the things they produce, acquire, desire, and exchange. Bringing this to light also makes visible, I argue, how Aristotle understands money as something capable of being used to both bring about social justice and to pervasively corrupt the foundations of shared democratic life. Taking stock of this dual capacity of money, I show how money’s relationship to subjectivity simultaneously makes money the site of a seemingly intractable problem for politics under capitalism and the means to revive it and reconnect it to democratic life. (shrink)

Neo‐Aristotelian virtue ethics applied to work and business theory have received increasing attention due to Alasdair MacIntyre's philosophy. At the same time, this approach has been accused of being inapplicable, a romantic nostalgia for an ideal world far from the reality of today's markets. Moreover, the more this theory evolves, the bigger the gap seems to become, as if good work were at odds with its economic dimension. This paper aims to address this gap by explaining how MacIntyre's neo‐Aristotelianism conceives (...) of the economic dimension of good work. In particular, we claim that it is consistent with MacIntyre's philosophy that said economic dimension of work can be defined in terms of excellence and virtue, particularly in accordance with the virtues of justice and unity of life. However, for these virtues of good work to be practicable, a reconsideration of market practices performed under the logic of giving and receiving is needed. Hence, defining and sustaining an economic dimension of good work in MacIntyre also depend on the possibility of market practices being defined as excellent. (shrink)

AbstractDuring the last 20 years, the financial sector has undergone an unprecedented transformation due to new regulations and the implementation of several technological advancements. The combination of regulation and technology has brought about new financial processes that have fundamentally changed how financial market making is done. This paper studies the ethics of financial market making and its implications for one of the most controversial financial innovations of modern times, namely high-frequency trading (HFT). We claim that the Aristotelian distinction between natural (...) chrematistics, which is aimed at serving the real economy, and unnatural chrematistics, whose ultimate purpose is wealth accumulation, can be a useful criterion to assess the ethics of financial market making and the goodness of an innovation as HFT, and how it can serve the common good of society. This approach can be defined as ‘purpose oriented’ or ‘purpose fulfillment’. (shrink)

This article proposes an interpretation of the chapters of theNicomachean Ethicsconcerning exchange and friendship. Rejecting approaches where Aristotle anticipates modern labour or need-based theories of value, the article claims that those notions of labour and need are required for a satisfactory interpretation of the most obscure passages of Book V. Finally, Aristotle's texts on exchange and friendship are related in such a way that the latter, since it is free from any political considerations, allows us to better understand the philosopher's (...) view on exchange. (shrink)

Realism has been a central object of attention among analytical philosophers for some decades. Starting from analytical philosophy, the return of realism has spread into other contemporary philosophical traditions and given birth to new trends in current discussions, as for example in the debates about “new realism.” Discussions about realism focused on linguistic meaning, epistemology, metaphysics, theory of action and ethics. The implications for politics of discussion about realism in action theory and in ethics, however, are not much discussed.

In just proportional exchange, under Aristotle's theory of reciprocal justice, superior sharers in a community materially assist the weaker, and receive honour as a reward. Aristotle's economic thought is represented with a system of 18 formulae. Explained are: (1) What Aristotle means when he says that it is impossible for two sharers or their erga to be commensurable; (2) The extent to which the variables in Aristotle's proportions can be quantified. (3) What diagonal pairing ( ?ατ δ? ??τ?o? σ ??????) (...) is; (4) How need makes sharers and their erga ?sufficiently' commensurable; and (5) Aristotle's theory of what is just in exchange. (shrink)

This paper reviews Aristotle’s problematic relationship with modern economic theory. It argues that in terms of value and income distribution theory, Aristotle should probably be seen as a precursor to neither classical nor neoclassical economic thought. Indeed, there are strong arguments to be made that Aristotle’s views are completely at odds with all modern economic theory, since, among other things, he was not necessarily concerned with flexible market prices, opposed the use of money to acquire more money, and did not (...) think that the unintended consequences of human activity were generally beneficial. The paper argues however, that this interpretation goes too far. The Benthamite neoclassical theory of choice can be seen as a dumbing down of Aristotle’s theory, applicable to animals, not humans. Adam Smith and Karl Marx were deeply influenced by Aristotle’s work and both started their main economic works with Aristotle: Smith ultimately rejecting, and Marx ultimately developing Aristotle’s views of the use of money to acquire more money. Possibilities for the future development of a new Aristotelian Economics are explored. (shrink)

This paper presents and illustrates the concept of sustainable corporate finance. Sustainability is a well-established concept in the disciplines of environmental economics and business ethics. The paper uses a broader definition of what is called the firm to pinpoint sustainability to the finance literature. The concept of sustainable finance is compared to traditional and behavioral finance. Four criteria are used to systematically analyze the basic differences. First on the order is the theory of the firm: the definition of the firm (...) is reconsidered by integrating behavioral aspects and by expanding financial analysis to a three-dimensional goal setting. Secondly, a closer look is taken at the assumed behavior of economic agents and its consequences for the applied methodology. The shareholders paradigm is discussed against the background of growing stakeholder importance. Finally, the fourth criterion deals with the different ethical framework and its implication for financial behavior. (shrink)

Pricing policies and fair-trade practices are critical for sustaining commercial relationships between firms and customers. Nevertheless, in current business practices, fairness has been mistakenly reduced to a minimalistic ethic wherein justice only demands legal and explicit norms to which commercial parties voluntarily agree. Aimed at giving a different explanation of commercial agreements, this paper will introduce a Virtue Ethics (VE) explanation of the relationship between pricing and the common good by taking up classical concepts related to justice in commerce. In (...) particular, we will explore three principles associated with the notion of fairness in commerce as defined in Neo-Aristotelian ethics towards a relationship between a common good and justice in pricing, i.e., proportionality, benevolence and well-being. To exemplify how these criteria of justice apply to decision-making in commercial practices, we will discuss several cases of fair and unfair commercial relationships. (shrink)

Šio straipsnio tikslas – aptarti geriausios santvarkos problemą Aristotelio politinėje teorijoje, atsižvelgiant į Nikomacho etikoje pateiktą žmogiško klestėjimo sampratą. Joje Aristotelis teigia, kad monarchija yra geriausia santvarka (1160a35–36). Šis teiginys pakartojamas ir Politikoje (1288a15–18). Straipsnyje aiškinama, kodėl šie Aristotelio teiginiai prieštarauja Politikoje aptartoms teleologinėms polio, piliečio ir gero piliečio vs. gero žmogaus dorybių sampratoms. Atsižvelgiant į Aristotelio filosofinį valstybės apibrėžimą, jog ji yra „lygių asmenų susivienijimas dėl geriausio įmanomo gyvenimo“, ir teiginį, kad „geriausia yra laimė, o tai susideda iš tobulumo, (...) tobulo jos aktualizavimo ir panaudojimo“, be to, jo argumentus apie gero žmogaus ir gero piliečio santykį, straipsnyje teigiama, kad geriausia politinė santvarka yra politėja, o ne monarchija. Tačiau tokios interpretacijos nepakanka, jei norime išgelbėti Aristotelį nuo jo nenuoseklumo ir filosofiškai abejotinų teiginių apie „prigimtinę nelygybę“. Siūloma radikalesnė Aristotelio interpretacija, atmetanti šio filosofo ontologinę skirtį tarp oikos ir polio. Teigiama, kad Aristotelio socialinių santykių šeimoje-ūkyje (oikos) vertikalumas yra filosofiškai nepagrįstas ir prieštarauja revoliuciniams šio filosofo normatyvinės teleologijos aspektams ir jos radikalioms implikacijoms. (shrink)

The doctrine of the “just price” is more than often described as the core of the “economic” thinking of the Scholastics (de Roover 1958; Baldwin 1959; Wilson 1975; Worland 1977). In fact, one could hardly contest that the notion occupies a place of high importance in the economic reflections of the Medieval Doctors. It is of no doubt that their study of economic reality led them to call up very frequently the said notion of “just price”. Yet the insistence with (...) which modern historiography has itself treated this – central but particular – element of the Scholastic economic thinking conceals, to our opinion, some of its important sights and interests. An “objective” approach of the scholastic theory seems to command such an interpretation. But why is the phrase “just price” so often used and developed by the Doctors? Such a simple question cannot be answered simply by focusing on the notion. From a more “methodological” point of view, just price appears only like the final result of a complex argumentation. Little attention has been given to the fact that (1) the issue at stake is less a problem of correctness in limited bargaining than a general question of social justice; (2) the method used to deal with this vast subject in the field of economic relations is a systematic “contractual” analysis. The second point forms the main theme of this paper. (shrink)

Stakeholder theory is an important part of modern business ethics. Many scholars argue for a normative instead of an instrumental approach to stakeholder theory. Recent examples of such an approach show that problems appear with respect to the ethical foundation as well as the specification of the norms and the relation between corporate and individual responsibilities. This paper argues for the relevance of Aristotle's ideas on ethics and politics, and especially the link between them, for stakeholder theory. An Aristotelian approach (...) suggests that the corporation should be considered as existing to allow the decision maker, who normally is a manager, to live a complete and good life and to make decisions that involve the interests of different stakeholders. This approach leads to a number of implications regarding the role of organizational politics and the managerial function. (shrink)