Value creation has long been hailed as the major objective of business firms by many management researchers. Some authors state that a firm must create value for its shareholders; some insist that value must be created not just for shareholders but also for all stakeholders. However, most discussions of value creation do not address an important question: "For whom the value is created?" The purpose of this paper is to take a first step to fill this void and propose a (...) model of value creation along three dimensions: financial, nonfinancial, and time. It is hoped that the model will contribute to a better understanding of how strategic and operational decisions of managers may create value for some stakeholders while destroying it for others. (shrink)

Business research and teaching institutions play an important role in shaping the way businesses perceive their relations to the broader society and its moral expectations. Hence, as ethical scandals recently arose in the business world, questions related to the civic responsibilities of business scholars and to the role business schools play in society have gained wider interest. In this article, I argue that these ethical shortcomings are at least partly resulting from the mainstream business model with its taken-for granted basic (...) assumptions such as specialization or the value-neutrality of business research. Redefining the roles and civic responsibilities of business scholars for business practice implies therefore a thorough analysis of these assumptions if not their redefinition. The taken-for-grantedness of the mainstream business model is questioned by the transformation of the societal context in which business activities are embedded. Its value-neutrality in turn is challenged by self-fulfilling prophecy effects, which highlight the normative influence of business schools. In order to critically discuss some basic assumptions of mainstream business theory, I propose to draw parallels with the corporate citizenship concept and the stakeholder theory. Their integrated approach of the relation between business practice and the broader society provides interesting insights for the social reembedding of business research and teaching. (shrink)

A number of multinational enterprises have come under ethical scrutiny over the recent decades. In some cases, this may be due to a lack of maturity of corporate moral reasoning. The article is based on a framework developed by Lawrence Kohlberg. He suggested three main stages of moral development: They are (1) pre-conventional moral reasoning, (2) conventional and (3) post-conventional moral reasoning. The article places different approaches to business ethics into the framework developed by Kohlberg. It is argued that the (...) first two stages form an insufficient basis for ethical guidance for multinational organizations. Five post-conventional ethical perspectives are presented to assist MNC's in their analysis in order to uncover the possible dilemmas, to avoid harming others and also to avoid costly embarrassment at the hands of critics. (shrink)

The primary thesis of this article is that the rights and powers of corporations--to collect, recombine, and resell personal data--have accrued in such a way as to fundamentally circumvent traditional and conventional conceptions of privacy, especially with respect to the sphere of informational privacy. In so doing, informational capitalism has also altered in fundamental ways the public and social sphere itself, the sphere through which one might expect these corporate forces and uses of technology to be controlled.

Morality and business ethics are topics facing increased attention in modern management, yet they tend to be looked at only in relation to external relationships. However one of the most important contributions to management practice and theory (human relations) was built upon a sociological theory that was totally concerned with morality. That sociological theory was borrowed by Mayo (the father of human relations) without reading the original theory; consequently he missed the real point that the theory made, i.e. a common (...) morality embracing everyone was necessary to maintain order and social cohesion. Such a morality was only possible when we realised our social dimension through continuous contact with each other. Moral man had to be social man; occupational groups were a way of attempting to achieve this. Yet morality is a dimension of group dynamics and management training rarely mentioned, partly through ignorance, partly through a fear of what discussions of morality might lead on to, and partly through a structural blindness to non-operational problems. (shrink)

The appropriate MBA curriculum has been debated for nearly a half century. More recently, critics contend that the emphasis on functional fields in MBA education has incorrectly elevated the importance of shareholder value resulting in unethical behavior. Although some criticism of MBA programs has merit, shareholder wealth maximization should remain the dominant management objective because it is relatively easy to implement and generally consistent with the interests of stakeholders.

The 1980s witnessed a dramatic increase in hostile takeovers in the United States. Proponents argue that well- planned mergers enhance the value of the firm and the value of the firm to society. Critics typically argue that undesired takeovers ultimately harm society due to external costs not borne by the acquiring firm. To be socially responsible, the manager must consider the effects of the merger/acquisition on all stakeholders. Different traditional ethical frameworks for decision making are proposed and reviewed. A model (...) is proposed. (shrink)

The topic of Chief Executive Officer (CEO) compensation has been a focus of interest for many years. The purpose of this article is to explore the ethical dimensions of various generally accepted theories of CEO renumeration. We argue that a contractarian approach, based on the Kantian ethical framework, can be used to augment the existing contingent pay models.While the neoclassical economic model of the firm views the maximization of the shareholders'' wealth as the sole responsibility of top management, a contractarian (...) approach regards the balancing of various stakeholders'' interests as the primary task of top management. Ethical problems emerge when there are divergent, yet equally justifiable interests which compete in order to channel organizational resources to meet their own needs. In this situation, given the inherent ambiguities and ever present possibilities of multiple perspectives, it may not always be feasible to provide a categorical answer to the question of whether the CEO''s decisions are ethical. We suggest that a broad interpretation of the neoclassical theory of the firm, one that is grounded in Kantian and contractarian ethics, can serve as a basis for a reconciliation of different theories of executive compensation. (shrink)

Understanding how cooperation evolves is central to explaining some core features of our biological world. Many important evolutionary events, such as the arrival of multicellularity or the origins of eusociality, are cooperative ventures between formerly solitary individuals. Explanations of the evolution of cooperation have primarily involved showing how cooperation can be maintained in the face of free-riding individuals whose success gradually undermines cooperation. In this paper I argue that there is a second, distinct, and less well explored, problem of cooperation (...) that I call the generation of benefit. Focusing on how benefit is generated within a group poses a different problem: how is it that individuals in a group can (at least in principle) do better than those who remain solitary? I present several different ways that benefit may be generated, each with different implications for how cooperation might be initiated, how it might further evolve, and how it might interact with different ways of maintaining cooperation. I argue that in some cases of cooperation, the most important underlying “problem” of cooperation may be how to generate benefit, rather than how to reduce conflict or prevent free-riding. (shrink)

Some 2000 years ago, Virgil wroteThe Georgics, a political tract on Romanagriculture in the form of a poem. Today, as aresult of rising global trade in food andagricultural products, growing economicconcentration, the merging of food andpharmacy, chronic obesity in the midst ofhunger, and new disease and pest vectors, weare in need of a new Georgics that addressesthe two key issues of our time: vigilance andvoice. On the one hand, vigilance must becentral to a new Georgics. Enforceablestandards for food safety, food (...) quality,environmental protection, worker health andsafety, sanitary and phytosanitaryrequirements, animal welfare, and appellationsmust be addressed. On the other hand, a newGeorgics must increase the range of persons whohave voice in the democratic governance of anew global agrifood system. New organizationsand institutions will be needed to accomplishthis task. (shrink)

Often, new technology brings in its train unprecedented problems. As far as computers, e-mail and the internet are concerned, this certainly holds true in many arenas. But there is one aspect of this new technology which does not present additional difficulties: cyber-slacking. The managerial challenges posed by employees using these amenities for job search, shopping sprees, personal relationships, in a word, general goofing off, have long ago already been overcome by employers. There is 'nothing new under the sun' in at (...) least this one dimension of the computer age. (shrink)

Adam Smith is usually thought to argue that the result of everyone pursuing their own interests will be the maximization of the interests of society. The invisible hand of the free market will transform the individual''s pursuit of gain into the general utility of society. This is the invisible hand argument.Many people, although Smith did not, draw a moral corollary from this argument, and use it to defend the moral acceptability of pursuing one''s own self-interest.

A link between biological and human sciences may be established, under the condition that we should admit the existence of reciprocal influences between them. The model for the regulation of agonistic antagonistic couples (MRAAC) is built from the study of biological systems and gives rise to specific types of control. This model can be helpful in decision processes in some human sciences such as management, economical and political strategies. The reason for such an opportunity lies in the fact that MRAAC (...) is a general and phenomenological model able to incorporate the whole of the agonistic antagonistic systems. This type of regulation might be related to the concept of the viability of a system (yet also valid for human science systems) and to a functional and structural pattern which is the basis for agonistic antagonistic networks. (shrink)

This paper presents a theoretical elaboration of the ethical framework of classical capitalism as formulated by Adam Smith in reaction to the dominant mercantilism of his day. It is seen that Smith's project was profoundly ethical and designed to emancipate the consumer from a producer and state dominated economy. Over time, however, the various dysfunctions of a capitalist economy — e.g., concentration of wealth, market power — became manifest and the utilitarian ethical basis of the system eroded. Contemporary capitalism, dominated (...) as it is by large corporations, entrenched political interests and persistent social pathologies, bears little resemblance to the system which Smith envisioned would serve the common man. Most critiques of capitalism are launched from a Marxian-based perspective. We find, however, that by illustrating the wide gap between the reality of contemporary capitalism and the model of amoral political economy developed by Smith, the father of capitalism proves to be the most trenchant critic of the current order. (shrink)

: The idea of enhancing our mental functions through medical means makes many people uncomfortable. People have a vague feeling that altering our brains tinkers with the core of our personalities and the core of ourselves. It changes who we are, and doing so seems wrong, even if the exact reasons for the unease are difficult to define. Many of the standard arguments against neuroenhancements—that they are unsafe, that they violate the distinction between therapy and enhancements, that they undermine equality, (...) and that they will be used coercively—fail to show why the use of any such technologies is wrong in principle. Two other objections—the arguments that such changes undermine our integrity and that they prevent us from living authentic lives—will condemn only a few of the uses that are proposed. The result is that very few uses of these drugs are morally suspect and that most uses are morally permissible. (shrink)

This paper offers an analysis of the logical form of plural action sentences that shows that collective actions so ascribed are a matter of all members of a group contributing to bringing some event about. It then uses this as the basis for a reductive account of the content of we-intentions according to which what distinguishes we-intentions from I-intentions is that we-intentions are directed about bringing it about that members of a group act in accordance with a shared plan.

To know is to cognize, to cognize is to be a culturally bounded, rationality-bounded and environmentally located agent. Knowledge and cognition are thus dual aspects of human sociality. If social epistemology has the formation, acquisition, mediation, transmission and dissemination of knowledge in complex communities of knowers as its subject matter, then its third party character is essentially stigmergic. In its most generic formulation, stigmergy is the phenomenon of indirect communication mediated by modifications of the environment. Extending this notion one might (...) conceive of social stigmergy as the extra-cranial analog of an artifcial neural network providing epistemic structure. This paper recommends a stigmergic framework for social epistemology to account for the supposed tension between individual action, wants and beliefs and the social corpora. We also propose that the so-called "extended mind" thesis offers the requisite stigmergic cognitive analog to stigmergic knowledge. Stigmergy as a theory of interaction within complex systems theory is illustrated through an example that runs on a particle swarm optimization algorithm. (shrink)

This is a translation of selections from Part One, Chapter One of Rehberg's Investigations, which contains his critique of the philosophical principles animating the French Revolution. No English translation of the text currently exists. The Investigations was one of the most influential philosophical treatments of the Revolution in eighteenth-century Germany and remains an important specimen of ‘Kantian’ political theory from the 1790s. The Investigations had a clear impact on Kant's political philosophy and the work of the early Fichte. The translation (...) is accompanied by an editorial introduction that introduces the reader to Rehberg and outlines his core arguments. (shrink)

This article investigates the early modern history of dog labor in small-scale industrial production in Europe and the Americas as a paradigmatic example of the history of animal labor. The turnspit dog was the “product” of material conditions of production as they were forced to labor in butter-churning, knife-grinding, water-raising, sewing, and food industries. Furthermore, their bodies and labor tried to be “perfected” by selective breeding and violent methods of training, mechanical dressage, and labor discipline. The incorporation of dog labor (...) into mechanized industrial production developed hand-in-hand with certain ideas, ideologies, and mentalities, such as the mechanistic interpretation of bodies deprived of soul, mind, and sentience. (shrink)

The idea of the "original position" is one of the most famous concepts in contemporary political philosophy. Since the first publication of A Theory of Justice in 1971, the device of the original position has become a popular theoretical method in many political theorists' writings. Unfortunately, the true meaning of the original position is far from clear both in Rawls's and Rawlsians' accounts. This has caused a lot of misunderstanding and misuse of this concept in contemporary literature. This study attempts (...) to explore the more profound connotation of the original position by sorting out its relationship with Kant's categorical imperative procedure and argues that it is more appropriate to claim that Rawls's original position device is a development of Kant's categorical imperative procedure rather than the standard version of rational choice theory or social contract tradition. I demonstrate three essential similarities between Rawls's original position and Kant's categorical imperative procedure, which embodies Kantian constructivism: justificatory individualism, the reasonable presupposes and subordinates the rational, and the combination of moral and realistic considerations. (shrink)

The role that need plays in dealing with problems of distributive justice is examined in a series of vignette studies. Among other things, it becomes clear that impartial observers make gradual assessments of justice that depend on the extent to which the observed individuals are endowed with a good. If it is known how high their need for that good is, the assessments are made relative to this reference point. In addition, impartial decision-makers make hypothetical distribution decisions that take into (...) account need, productivity, and accountability. The need of individuals is partially compensated even if they have contributed less to the available amount than they themselves require. However, the willingness to do so decreases if they are accountable for needing more than others or for having contributed less than others. Lastly, both impartial observers and impartial decision-makers distinguish between different types of needs, the fulfillment of which is given different levels of importance. (shrink)

In this article, I define a cultural epistemology as a set of socially reinforced assumptions about how knowledge and truth are produced. Unlike a philosophical epistemology, a cultural epistemology is largely the product of culture and largely invisible. As products of culture, cultural epistemology are relatively unquestioned and, in many cases, philosophically unsophisticated. There are three common types of cultural epistemologies, influenced by who holds power in a given society: an epistemological monarchy, an epistemological oligarchy and an epistemological democracy. A (...) given cultural epistemology subsequently influences the legitimacy of culture and government itself. I argue argue that Americans tend to hold an "epistemological democracy" with two distinct facets: a trust in consensus, linked to living in a democratic republic, and a trust in their own self-interest, linked to market economics and capitalism more generally. These two facets combine, interact, and even oppose each other to legitimize and challenge American culture and its political and economic systems. (shrink)

Should businesses engage in moral talk when it becomes profitable? Due to their particular position of visibility, it is reasonable to acknowledge that businesses have specific moral duties. Some might argue that companies ought to help abandon morally repugnant norms by providing examples of alternative behaviors through advertisements. However, the moral talk of businesses might unexpectedly reinforce repugnant norms and increase social tensions in a polarized society. Then, the duty of the companies is not fulfilled when they engage in moral (...) talk. In polarized societies, the positional duty of businesses implies decreasing the risk of social conflict. It is not clear how to do that, yet I argue that if businesses use moral talk with mass marketing strategies, they would strive to shape impartial moral messages aiming to find points of moral convergence among polarized moral positions, which might mitigate social polarization. I call this duty the imperative of doux commerce. (shrink)

Throughout history, schools of economic thought have defined political economy—or economics—and its object of study in multiple ways. This paper reflects on the definitions of economics by schools of economic thought and also proposes the concepts of value and scarcity as key concepts to explain the differences between them. The most important findings of the paper are: (a) the ontological and epistemological characteristics of the concept of value and scarcity have shaped the definitions of economics; (b) the boundaries of the (...) study object of economics have been expanded since today’s mainstream economics deals with multiple topics as diverse as crime, education, development, health, etc. However, the methodological tools used in mainstream economics have been narrowed since approaches such as the philosophical, ethical, historical, and institutional approaches have been left behind; (c) the part of reality that mainstream economics can grasp have left behind important issues of the contemporary world, such as gender, social, and environmental issues. A clear understanding of the scope and boundaries of economics could help to define more realistic research questions for economic science, and it would help to define new economic paradigms that address the contemporary issues. (shrink)

As founder of modern political economics and prominent theorist of the commercial society, Adam Smith’s importance is universally recognized. Little, however, has been done so far to develop Adam Smith’s virtue ethics in the context of modern business, characterized by digitalization. This article aims to rediscover Adam Smith’s virtue of prudence and its relevance for the “e-commercial society”: It presents a framework that considers the central place of prudence in the relationship between a prosperous e-commercial system and societal flourishing. In (...) Smith’s view of the commercial society, prudence enables people to develop habits of character related to industriousness, genuineness, spirit of sacrifice, and self-command, which help in the conduct of a prosperous business activity. This article translates Smith’s virtue of prudence into a language typical of consumers in the current e-commerce scenario, considering their development as persons and the contribution of their activities to the good of society. (shrink)

Este libro promete ser una contribución para el estudio de la teoría crítica en general y para el análisis de la historia de la Escuela de Frankfurt en particular. Todos los trabajos que están contenidos en este volumen hacen parte del amplio marco teórico de la teoría crítica de la sociedad. Muchos siguen las huellas de los fundadores de esta tendencia, mientras que otros se presentan como críticos de la misma y unos cuantos más tratan de vincular problemas y contextos (...) de relevancia a los conceptos más destacados que se empezaron a construir hace cien años en Frankfurt. Encontramos como buena excusa para su publicación precisamente el año centenario del Instituto de Investigación Social. Además, hemos creído conveniente organizar los materiales en secciones que van desde la historia de la Escuela de Frankfurt hasta la consideración de algunos interrogantes de actualidad motivados por el desarrollo de la teoría crítica. No obstante, con esto no pretendemos establecer límites absolutos de clasificación. Confesamos que nuestra forma de organizar los ensayos responde simplemente a criterios editoriales más que a cuestiones teóricas y conceptuales. Claramente las intersecciones entre los estudios aquí presentados son amplias y hacen que cada una de las propuestas pueda dialogar con las otras en función de sus evidentes parecidos de familia. (shrink)

The paper focuses on the mutual interaction as well as the impact of the Scottish Enlightenment on the formation of the Enlightenment in Russia during the reign of Catherine the Great. It focuses on the relationship between the work of Adam Smith and Semyon Efimovich Desnitskii, who, thanks to Desnitskii’s studies at the University of Glasgow, got to know each other as teacher and student. The central point of their interaction is the issues of the philosophy of history based on (...) natural-law assumptions and focus on understanding the formation of history, culture, citizenship, and social transformations through morality and law. The paper examines Desnitskii’s ideas on the stages of human coexistence in which Smith’s concept is projected. The paper is not only an attempt to compare these concepts, but it also characterizes Desnitskii’s interest in adapting the ideas of the Scottish Enlightenment to Russian reality and needs and using them in the environment of the advancing feudal empire, to which Desnitskii wants to contribute with his work. (shrink)

Although Hegel is increasingly recognized as an important figure in the history of political economy, his economic views are never strictly economic. In contrast to other modern thinkers, his primary concern is not the economic efficacy of different practices or institutions but the extent to which they enable and promote the development of human freedom. In this article, I argue that Hegel's pioneering critique of modern liberal economy plays out simultaneously at a more empirical level, corresponding to the properly economic (...) dimension of his analysis, and at a deeper, logical level, which grounds and guides his position. Moreover, I argue that the tendency to favour the first of these levels, found in most of the literature on Hegel's economic thought, reduces the Philosophy of Right's main argument to a more or less vigorous plea for economic interventionism. Against this kind of reading, I show that a renewed focus on the text's logical structure reveals a different and more radical philosophical proposition, which has yet to be fully acknowledged. In particular, I argue that Hegel's dialectical logic leads him beyond the liberalism‐interventionism debate, towards a qualitatively different conception of social and economic relations. (shrink)

In what follows, I attempt to reconstruct Fichte’s and Hegel’s reasons for developing at almost the same time two very different conceptions of a rational economic order. Whereas Hegel, on the basis of his objective notion of reason, would recommend that a rational state, founded on the notion of right, should include a strictly confined, socially embedded market economy, Fichte, on the basis of his subjective notion of reason, thought instead that the very same state must adopt an economic order (...) that might well be described as a ‘planned economy’. Throughout the article I discuss whether it is the stark differences in their methodological premisses or their very different ideas about the individual freedom to be institutionalized in the economic sphere that helps us understand their respective notions of a rational economy. (shrink)

The article explores the problem of preferable technological changes in the context of work. To this end, it addresses the ‘why’ (motives and values) and the ‘how’ (organizational forms) of automation from a normative perspective. Concerning the ‘why,’ automation processes are currently mostly driven by values of economic efficiency. Yet, since automation processes are part of the basic structure of society, as is the division of labor, considerations of justice apply to them. As for the ‘how,’ the article suggests ‘fair (...) hybrid cooperation’ as an alternative ideal to guide automation priorities. It is achieved when the division of labor between humans and machines does not hinder, and preferably enables, workers’ experience of certain primary qualities in their work activity. By analogy with Rawls’ primary goods, these are qualities that it is necessary for every worker to experience in order to pursue their life plans: security, self-direction, self-development, dignity, and recognition. According to this criterion, the tasks to automate first are those hindering these contributive primary qualities. This provides us with a normative vocabulary and a standard to orient automation decisions but also to assess existing organizational forms and envisage alternative cooperative imaginaries. To illustrate how the ideal may play out in the real world, the article concludes with a ‘fair hybrid cooperation test’ and a nurse bots case for meaningful work. (shrink)

What explains and justifies factor shares, that is, the returns that workers and capital owners receive on their contribution to economic production? Arguably, neither economic theory nor theories of distributive justice give a satisfactory answer to this question. One important explanation of this shortcoming, this paper argues, lies in the fact that they fail to take the full measure of the phenomenon of increasing returns from specialisation or, as economist often call it, of total factor productivity. This paper aims to (...) fill this gap by asking what follows for distributive justice from taking this phenomenon seriously. The paper proceeds in four steps. First, it demonstrates in detail how a sophisticated division of labour creates a cooperative surplus. Second, it puts forward a counterfactual experiment to measure this surplus. Third and crucially, the paper argues that justice requires an equal division of this surplus and that this idea turns out to be a surprisingly ecumenical one. The final section defends the equal surplus proposal against two objections, namely the suggestion that an equal distribution of the cooperative surplus is either politically unfeasible or economically inefficient. (shrink)

For the first time, in Hume and Smith, ‘sympathy’ occupies a central position as the principle of moral judgment. The key to solving the relationship between sympathy and economic thought lies in the theory of justice. Hume and Smith inherited Hutcheson’s criticism of the Hobbesian selfish system and considered humans selfish and social. For both, the relationship between selfishness and sympathy is neither a contradiction nor a subordinate structure in which selfishness ultimately dominates sympathy. In this joint project, Hume’s institutional (...) utilitarianism could justify Smith’s economic theories and provide Smith’s theory of government with a proper philosophical foundation. I argue that this is particularly significant because Smith himself failed to provide the foundation in areas where the idea of public utility plays a vital role, such as in the critical case of national defence and the decline of martial spirit. (shrink)

In recent decades, Alasdair MacIntyre has developed a style of moral philosophy and an argument for Neo-Aristotelian virtue ethics that has deeply influenced business ethics. Most of the work inspired by MacIntyre has dealt with individual and organisational dimensions of business ethics rather than the market economic environment in which individuals and organisations operate. MacIntyre has been a fierce critic of capitalism and economics. He has read Adam Smith an advocate of selfish individualism, rule-based ethics and the banishment of teleology. (...) This reading is seriously defective, and Smith in fact offers much of what MacIntyre calls for in economics. MacIntyre's ethical framework can be made more powerful and useful to business ethicists by incorporating Smithian insights, especially Smith's account of market virtues and teleological account of markets as extended cooperation directed towards the common good of wealth creation. Aside from issues of the interpretation of MacIntyre and Smith, this analysis opens new pathways for dialogue between business ethicists and economists. (shrink)

The aim of this paper is to show that, for the purposes of addressing the epistemic aspects of systemic injustice, we need a notion of emancipatory attention. When the epistemic and ethical elements of an injustice are intertwined, it is a misleading idealisation to think of these epistemological elements as calling for the promotion of knowledge through a rational dialectic. Taking them to instead call for a campaign of consciousness-raising runs into difficulties of its own, when negotiating the twin risks (...) of being presumptuous about one’s own ignorance, and patronising in attributing ignorance to others. To arrive at a better response, we should follow Marilyn Frye’s suggestion that the epistemic aspects of injustice are, at root, problems of attention. But we fail to give an adequate account of this if we adhere to the most influential tradition of thinking about attention’s ethics, which takes its lead from Iris Murdoch’s reading of Simone Weil. That tradition addresses attention’s significance in individual contexts, rather than social ones. To get a better conception of the role that is played by attention in projects of social emancipation, we should take some ideas from recent work on the metaphysics of attention, together with ideas from an older tradition – represented here by R.G. Collingwood’s The Principles of Art – concerning the forms of attention that are occasioned by the creation and appreciation of art. (shrink)

This paper revisits Tocqueville’s famous portrait of the American female, which begins with assertions of her equality to males but ends with her self-cloistering in the domestic sphere. Taking a cue from Tocqueville’s extended sketch of the “faded” pioneer wife in “A Fortnight in the Wilderness” and drawing connections to Tocqueville’s criticisms of the division of industrial labor, I argue that the American girl’s ostensibly free choice to remove herself from public life is not an act of freedom. Rather, it (...) is a manifestation of a particular type of unfreedom that reveals underappreciated connections between the two great dangers about which Democracy in America warns: tyrannical majoritarianism and soft despotism. My argument that the girl’s choice to withdraw from public life is coerced rather than free thus highlights the nonpolitical sources of oppression that exist within democratic societies. The paper concludes by raising questions about the need for coercion within Tocquevillian democracy and the implications of this for Tocqueville’s “new” political science—indeed, for his liberalism more generally. (shrink)

In this paper, we argue that, in order to account for the apparently substantive nature of definitional disputes, a commitment to what we call ‘Socratic essentialism’ is needed. We defend Socratic essentialism against a prominent neo-Carnapian challenge according to which apparently substantive definitional disputes always in some way trace back to disagreements over how expressions belonging to a particular language or concepts belonging to a certain conceptual scheme are properly used. Socratic essentialism, we argue, is not threatened by the possibility (...) that some apparently substantive definitional disputes may turn out to be verbal or conceptual, since this pluralist strategy, in our view, requires a commitment to more, rather than fewer, essences. What is more, a deflationary, metaphysically ‘light-weight’ construal of the essence-ascriptions in question leads to a peculiar conception of the pursuit of metaphysicians as behaving like deceptive (or self-deceived) grammarians pretending to be scientists. Moreover, this deflationary attitude, we argue, spreads beyond metaphysics and philosophy more broadly to apparently substantive definitional disputes in the sciences as well as other in other disciplines, such as art criticism. (shrink)

This article analyses Adam Smith's and Sophie de Grouchy's accounts of sympathy to show how they arrive at strikingly different views on whether inequality is a threat to, or precondition of, social order. Where many scholars have recently sought to recover Smith's egalitarianism, I instead focus on how his account of sympathy in The Theory of Moral Sentiments naturalises socioeconomic inequalities, while also highlighting the wider inegalitarian implications of his analysis. I demonstrate that Grouchy was alert to these implications and (...) reveal how her own account of sympathy challenges the moral psychology underlying Smith's position on inequality. By reconstructing Grouchy's response to Smith, I illustrate how retrieving the insights of long‐overlooked thinkers can reorient the way we understand key debates in the history of philosophy, since Grouchy was far more concerned than Smith with exposing how economic inequality imperils the prospects of relating to one another as equals. (shrink)

Polanyi’s concept of “embeddedness” has been the subject of debate. Various authors have argued that it reveals a contradiction. They contend that Polanyi states that all economies are always embedded, while simultaneously maintaining that the modern market economy is exceptional because it is disembedded. Others claim that there is no contradiction in Polanyi’s thought but that he is merely describing a contradiction of the market economy. In this text, I argue that both sides fail to discern two different concepts: “institutedness” (...) and “embeddedness.” “Institutedness” denotes the idea that economic behavior is always dependent on and the result of certain forms of social organization. In turn, the distinction between embeddedness and disembeddedness is inspired by the Aristotelian distinction between natural and unnatural economic behavior. This distinction refers to the finality of economic behavior: is it directed at the thriving of an ethical community or is it instead directed at wealth acquisition as an end in itself? I argue that both institutedness and (dis)embeddedness fulfill a crucial, though different, role in Polanyi’s critique of market capitalism. I conclude by giving a preliminary outline of what could be the implications for a (neo-)Polanyian political economy of my analysis. (shrink)

Journal of Political Philosophy, EarlyView.

There has been much interest in conspiracy theories (CTs) amongst philosophers in recent years. The aim of this paper will be to apply some of the philosophical research to issues in political theory. I will first provide an overview of some of the philosophical discussions about CTs. While acknowledging that particularism is currently the dominant position in the literature, I will contend that the ‘undue scepticism problem’, a modified version of an argument put forward by Brian Keeley, is an important (...) general objection to many CTs. This in turn leads to some substantial conclusions for liberal political philosophy, as the undue scepticism problem sets up a strong argument against non-liberal alternatives to liberal thought. I shall argue that we are justified in having far more doubt about the reliability of official sources in non-liberal societies, and it is legitimate to be more sceptical about claims designed to bolster non-liberal politics. Moreover, because scepticism is often more warranted in non-liberal societies, this may provide the possibility for the state to be stable, even if it is highly tyrannical or ineffective. These considerations are not intended to be decisive, but raise unresolved questions about the viability of non-liberal politics. (shrink)

The concept of negative liberty as non-interference is operative in the concept of a free market and stipulates that market relations remain outside the purview of social control. As a purported self-regulating system, however, the market functions as a system of necessity that facilitates and rules social life. I argue that Isaiah Berlin’s defense of negative liberty leads to a paradox as it entails subjection to the external necessity of a self-regulating market. The argument for the self-defeating nature of negative (...) liberty relies on two philosophical insights that have their roots in G. W. F. Hegel’s theory of self-determination. First, negative liberty fails to account for the inner and outer conditions of freedom and thus reduces to mere whim or arbitrariness, subject to heteronomous forces but masquerading as license. Second, individual freedom is intersubjectively mediated in its deliberative process and framed by social and political institutions in its exercise; thus, free agency must be theorized as embedded agency. I challenge the association of freedom and the market and the automatic and unchallenged implication of deregulation and freedom. Deregulation, rather, leaves the community’s future development to the whims of economic players using a rhetoric of freedom as both lure and principle. (shrink)

This article introduces the Normative Representativeness Requirement (NRR) on any moral objection to a decentralized, profit-oriented system of political economy. I develop and defend the NRR and then show why the most important recent critique of the profit system—which I call The Moderate Critique (developed by, for instance, Elizabeth Anderson)—fails to meet the NRR. This article also defends the radical claim that no objection to the profit system itself, rather than just key aspects or salient instances of it, succeeds in (...) meeting the NRR. Critics of the profit system should not seek an alternative to the profit system, but, at most, an alternative within it. (shrink)

The fields of positive psychology, cognitive behavioral therapy, mindfulness, and goal-setting have all demonstrated that individuals can modify their beliefs, attitudes, intentions, and behaviors to improve their subjective happiness. But which ethical beliefs affect happiness positively? In comparison to ethical belief systems such as deontology, consequentialism, and altruism, rational egoism appears to be alone in suggesting that an individual’s long-term self-interest and subjective happiness is possible, desirable, and moral. Albeit an important theoretical foundation of the rational egoism philosophy, the relationship (...) between rational egoism and subjective happiness has yet to be investigated empirically. Using (Overall and Gedeon, Business and Professional Ethics. 38:43–78, 2018) 24-item rational egoism scale, we test this relationship on a random sample of 534 full-time American workers using partial least squares structural equation modelling (PLS-SEM). Consistent with rational egoism theory, the main contribution to knowledge of this research is finding a statistically significant relationship between rational egoism and subjective happiness. Implications for practice and areas for future study are suggested. (shrink)

Smith’s statements on wealth and happiness are paradoxical. On the one hand, Smith states that individuals’ pursuit of wealth is beneficial for society because it leads to economic growth and establishes rank and order in society. On the other hand, he appears to say that pursuit of wealth leaves individuals unhappy. Griswold refers to this as ‘comic irony’. In this paper, by examining what Smith says about wealth and happiness, we attempt to resolve this paradox. Towards this end, we analyze (...) the unconscious that is implicit in the Theory of Moral Sentiments. As we will describe, analyzing Smith’s statements by considering the role of the unconscious implies that the pursuit of great wealth can make individuals happy. (shrink)

Some economists now predict that technology will eliminate many millions of jobs and lead to a future without work. Much debate focuses on the accuracy of such a prediction—whether, or at what rate, jobs will disappear. But there is a wider question raised by this prediction, namely the merits or otherwise of automating work. Beyond estimating future job losses via automation, there is the normative issue of whether the quality of life would be enhanced in a world where machines replace (...) humans in work. Economics makes particular assumptions about the value of work and the nature of well-being that can address this normative issue. But a deeper enquiry into the scope for living well in a possible automated future requires us to think beyond the limits of standard economic theory and to engage in matters of relevance to business ethicists. This paper shows how automation raises crucial concerns about work—its meaning and contribution to well-being—and how the ability to envisage a better future of work depends on bridging the gap between economics and business ethics. Overall, the paper aims to further understanding of automation as a possible mechanism to raise well-being within work and beyond it. (shrink)