This paper gives prescriptions for introducing ethical concerns into the economic theory of the firm. Topics include social responsibility, corporate governance, profit maximization, competition barriers, collusion, the market system, and welfare economics. The need for such prescriptions is based on a content analysis of 21 managerial economics texts for their coverage of ethics. My analysis finds that substantive discussions of ethics are conspicuous by their absence. As ethical breaches can involve significant monetary damages to a firm – particularly through adverse (...) market reactions – moral-reasoning abilities can complement analytical skills. Consequently, my analysis demonstrates how ethics figure into the opportunity costs of managerial decision making, which is central to the economic definition of profit. (shrink)

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 (...) programs, and (5) its place as a value for scientific research. -/- The notion of “novel facts” is highly relevant in his conception, where several aspects are involved: the directions of novel facts, the different kinds of novelty, and the transition from six possible options of “novel facts” to four choices. Thereafter, the prediction of novel facts as the criterion of appraisal is considered. On the one hand, this requires analyzing the theoretical, empirical, and heuristic possibilities of appraisal; and, on the other, whether there is an overemphasis on the role of prediction in methodology of scientific research programs. As a consequence, there is an analysis of Lakatos’ criterion of appraisal in MSRP and economics. (shrink)

The language of ‘human security’ arose in the 1990s, including from UN work on ‘human development’. What contributions can it make, if any, to the understanding and especially the valuation of and response to the impacts of climate change? How does it compare and relate to other languages used in describing the emergent crises and in seeking to guide response, including languages of ‘externalities’, public goods and incentives, cost-benefit and cost-effectiveness analysis? The paper examines in particular the formulations in those (...) terms in Stiglitz's Making Globalization Work and Stern's The Economics of Climate Change and Blueprint for a Safer Planet, and how these authors are left groping for frameworks to motivate the changes required for global sustainability. It undertakes comparison also with the languages of human development and human rights, and suggests that, not least through enriching our skills of ‘narrative imagination’, the human security framework supports a series of essential changes in orientation—in our conceptions of selfhood, well-being and situatedness in Nature—and supports a required greater solidarity and greater awareness of our inter-connectedness. (shrink)

The development of access rights as, perhaps, a replacement for copyright in digital rights management (DRM) systems, draws our attention to the importance of ‚the balance problem’ between information industries and the individual user. The nature of just what this ‚balance’ is, is often mentioned in copyright writings and judgments, but is rarely discussed. In this paper I focus upon elucidating the idea of balance in intellectual property and propose that the balance concept is not only the most feasible way (...) to examine whether past solutions to copyright problems are fair, but it also provides the ability to predict what will be the better solution for all affected parties. Based upon an envy-free contribution towards predicting the efficient balance, game theory is applied in a novel manner to the DRM problem to infer where and what might be the optimal balance in the debate over the nature of access right. (shrink)

Systemism and social mechanisms, as articulated by Bunge, are concepts with great potential for application to assessment of research progress. This study will use the conceptual tools made available by systemism and social mechanisms to evaluate the International Crisis Behavior (ICB) Project as a scientific effort toward the greater understanding of crises in world politics. Systemism and social mechanisms are articulated as key concepts in the quest for scientific progress. The goals and basic characteristics of the ICB Project as a (...) scientific venture then are described. The ICB Project is assessed in terms of how well it lives up to standards for scientific progress. Finally, conclusions and ideas about future research are presented. The basic finding of this study is that the ICB Project is quite successful in meeting the standards for scientific progress entailed by the concepts of systemism and social mechanisms. Key Words: scientific progress • international relations • international crises • paradigm. (shrink)