Although widely used across psychology, economics, and philosophy, the concept ofeffort is rarely ever defined. This article argues that the time is ripe to look for anexplicit general definition of effort, makes some proposals about how to arrive at thisdefinition, and suggests that a force-based approach is the most promising. Section 1presents an interdisciplinary overview of some chief research axes on effort, and arguesthat few, if any, general definitions have been proposed so far. Section 2 argues thatsuch a definition is (...) now needed and proposes a basic methodology to arrive at it, whosefirst step is to make explicit the various tacit assumptions about effort made acrosssciences and ordinary thinking. Section 3 unearths 4 different conceptions of effortfrom research on effort so far:primitive-feelings accounts,comparator-based accounts,resource-based accountsandforce-based accounts. It is then argued that the first 2kinds of accounts, although interesting in their own right, are not strictly speaking abouteffort. Section 4 considers the 2 most promising general approaches to efforts: re-source-based and force-based accounts. It argues that these accounts are not only compatible but actually extensionally equivalent. This notwithstanding, it explains why force-based accounts should be regarded as more fundamental than resource-basedaccounts -/- . (shrink)

Istvan Hont’s classic work on the theoretical links between the seventeenth-century natural jurists Hugo Grotius and Samuel Pufendorf and the eighteenth-century Scottish political economists remains a popular trope among intellectual and economic historians of various stamps. Despite this, a common criticism levelled at Hont remains his relative lack of engagement with the relationship between religion and economics in the early modern period. This paper challenges this aspect of Hont’s narrative by drawing attention to an alternative, albeit complementary, assessment of the (...) natural jurisprudential heritage of eighteenth-century British political economy. Specifically, the article attempts to map on to Hont’s thesis the Christian Stoic interpretation of Grotius and Pufendorf which has gained greater currency in recent years. In doing so, the paper argues that Grotius and Pufendorf’s contributions to the ‘unsocial sociability’ debate do not necessarily lead directly to the Scottish school of political economists, as is commonly assumed. Instead, it contends that a reconsideration of Grotius and Pufendorf as neo-Stoic theorists, particularly via scrutiny of their respective adaptations of the traditional Stoic theory of oikeiosis, steers us towards the heart of the early English ‘clerical’ Enlightenment. (shrink)

This forum contribution addresses two major themes in de Goede’s original essay on ‘Financial security’: (1) the relationship between stable markets and the proverbial ‘security dilemma’; and (2) the development of new decision-technologies to address risk in the post-World War II period. Its argument is that the confluence of these two themes through rational choice theory represents a fundamental re-evaluation of the security dilemma and its relationship to the rule of law governing market relations, ushering in an era of perpetual (...) physical and financial insecurity. (shrink)

In this paper I criticize the current standards for the acceptability of expert testimony in current US legislation. The standards have been the subject of much academic literature after the Frye and Daubert cases. I expose what I call the Paradox of Proof, and argue that the historical and current standards have sidestepped the problem of determining who is an expert and who is not in a court of law. I then investigate the problem of recognizing expertise from the layperson’s (...) standpoint, and suggest what courses of action the future research ought to take on the problem of identifying expertise. (shrink)

In the course of the eighteenth and nineteenth centuries the paradigm of a new science, political economy, was established. It was a science distinct from the Aristotelian sub-disciplines of practical philosophy named oikonomía and politiké, and emphasis on its character of science not unlike the natural sciences – still called ‘natural philosophy’ – mirrored precisely a willingness to stress its autonomy from two other sub-disciplines of practical philosophy, that is, ethics and politics. However, the new science resulted from a transformation (...) of part of traditional practical philosophy, allowing the inclusion of bodies of knowledge accumulated by experts of commerce and public finance. Such bodies of knowledge were unified by the (true or alleged) discovery of regularities, mechanisms, causal connections making for a new partial order within the overall social order. How far this paved the way to a science similar to mathematics rather left a normative discipline as alive as ever was a recurrent question for at least a century, until the marginalist revolution opened the way for a sharp division, leaving ‘economics’ as a science of causes and effects facing ‘economic policy’ as a discourse on ends. (shrink)

For Foucault, Hobbes is important for the transition from sovereignty to governmentality, but he does not always go into great detail how. In “Society Must Be Defended”, Hobbes’s reactions against the political historicism of his time lead him to an ahistorical foundation to the state. In Security, Territory, Population, his contract is emblematic of the art of government still caught in the logic of sovereignty. Management techniques, one of which being inheritance laws like primogeniture, inducing changes in a population’s milieu (...) so that its interest is properly directed allow the art of government to escape this logic. Hobbes supports primogeniture, but its historical position in the common law makes this support unexpected. This article examines the historical context of primogeniture and the reasoning for Hobbes’s support of it in light of Foucault’s claims about him in order to give more precision to those claims. The result is that primogeniture as a law of nature produces the family as an interested unit of the population. Yet this interest is itself historicized, so Hobbes’s attempt to de-historicize politics did not fully succeed. (shrink)

Taxation of residential property is difficult to be implemented in many jurisdictions and in this respect Lithuania is not an exception. Many taxpayers do not comprehend why property should be levied by the government. Indeed, any owner of real estate would usually resist to any attempts to increase this tax burden. However, even when the threshold is once overstepped and a new unpopular statutory framework is introduced, the government still faces new dilemmas regarding the administration of this tax. Sometimes weak (...) tax administration but not the tax itself undermines the credibility of the public. Commercial premises as well as land have been continuously levied in the Republic of Lithuania since 1990. Thus, the taxes paid by enterprises and the land tax were not a big issue of public debate in Lithuania. The burden of this tax was not very significant in the light of all taxes paid by enterprises or land owners. The most problematic issue remains the taxation of residential property. (shrink)

The diffusion of digital information and communication technologies is strongly supported by many countries of the world. Today, as well as in the past, new technologies are charged with high expectations, but at a closer look one can see that these expectations then are very different from now. Today they depend on the various interests of different groups of people. Globally acting enterprises see DICT as essential stra-tegic instruments in gaining competitive power; some governments hope to reach military hegemony, others (...) to control terrorism and crime, while grass root movements expect to become more influential on some aspects of society. The paper identifies and analyses basic tendencies which promote the various hopes: the effects of DICT on reducing production and transaction costs, and the possibility to transform information goods into marketable services or commodities. The final part of the paper is devoted to a few examples of how the potential of DICT can be used for social improvements. (shrink)

The paper argues that the notion of Pareto efficiency builds on two normative assumptions: the more general consequentialist norm of any efficiency criterion, and the strong no-harm principle of the prohibition of any redistribution during the economic process that hurts at least one person. These normative concerns lead to a constrained and static notion of efficiency in mainstream economics, ignoring dynamic efficiency gains from more equal allocations of resources. The paper argues that a weak no-harm principle instead provides an endogenous (...) efficiency criterion, which shifts attention away from equilibrium analysis in hypothetically perfect markets towards an evolutionary analysis of efficiency in real-world, non-equilibrium markets. Moreover, such an evolutionary notion of efficiency would be less normative than the Paretian concept. (shrink)

El divorcio entre ética y economía tiene lamentables consecuencias en nuestra sociedad contemporánea. El Nobel de Economía Amartya Sen constata el hecho y analiza las raíces del problema en la propia estructura y práctica de la disciplina económica. El presente artículo sintetiza las ideas que al respecto ha elaborado Sen por tres décadas. Se exponen los argumentos de este autor donde se entrelazan el razonamiento económico, el filosófico y el histórico crítico, ofreciendo una síntesis de esta contribución de Sen a (...) una discusión más amplia, de la que depende parcialmente la construcción de formas de convivencia más justas y equitativas. (shrink)

The article presents a survey of what is meant in the social sciences by an "invisible hand explanation", dealing in special with the ideas of Bernard Mandeville, Adam Smith, Carl Menger, Friedrich August von Hayek, Robert Nozick and Edna Ullmann-Margalit, and evaluates whether these explanations meet the standards of sound scientific arguments. The answer is affirmative with two different kinds of invisible hand explanations (IHE), the "causal-mechanical"-IHE and the "functional-evolutionary"-IHE.

Adam Smith, in Wealth of Nations, used gravitation as a rhetorical metaphor and not in a formal philosophical sense, as used by Newton, Aristotle or Empedocles. Physical gravitational attraction is predictable, accurate and rule-bound; metaphoric gravity, as in relationships between natural and market prices, are neither strictly rule-based nor predictable. Market exchange relationships between independent people are subject to the vagaries of imperfect rhetorical persuasion....

In Adam Smith’s Inquiry into the Nature and Causes of the Wealth of Nations the term ‘rational’ occurs only twice. Neither of these uses assigns the property of rationality either to human beings or to economic agents. Despite that, Smith is widely recognised as the founder of modern mainstream economics, a science which is defined by the assumption of the rationality of an economic agent. This paper aims to locate and discuss the notion of rationality which is implied by Smith’s (...) work. To achieve that a double-track approach is taken. First, the current paper reconstructs Smith’s general view on human nature which was presented mainly in his earlier book The Theory of Moral Sentiments. This is followed by a discussion of Smith’s theses on selected mechanisms which drive the economy as presented in The Wealth of Nations. (shrink)

The culture-economy dialectic (CED) – the opposition of the concepts and phenomena of culture and economy – is one of the most important ideas in the modern history of ideas. Both disciplinary boundaries and much theoretical thought in social science are strongly influenced or even determined by the CED. For that reason, a thorough analysis and evaluation of the CED is needed to improve understanding of the history of ideas in social science and the currently fashionable research on the cultural (...) influences on economic differences between countries and regions. This thesis is an attempt to do just that. The concepts of “culture” and “economy” (and related concepts) and the (assumed) relations therebetween are compared and analyzed. Empirical results from earlier studies are summarized and some new test are presented. These new tests are partly based on a measurement of Dutch regional culture. However, most theories of the CED are (nearly) impossible to verify (empirically). There appears to be some influence of wealth on specific cultural phenomena (such as individualism and post-materialism), but the often assumed influence of culture on entrepreneurship and economic growth remains unconfirmed. Moreover, from an analysis of the theories themselves, it appears that most of these cannot be falsified and are, therefore, hardly 'scientific'. Many of the theories of the CED and, in fact, many theories of social science in general are of a conceptual rather than a causal nature. These theories cannot be falsified (or verified) by empirical means alone, but must be studied by means of conceptual analysis. In the final conclusions, this thesis, therefore, argues for conceptual analysis in – and a more anarchist approach to – social science. (shrink)

As recent newspaper headlines show the topic of patents/patent laws is still heavily disputed. In this paper I will approach this topic from a theoretical-historical and history of economic thought-perspective. In this regard I will link the patent controversy of the nineteenth century with Walter Eucken's Ordoliberalism – a German version of neoliberalism. My paper is structured as follows: The second chapter provides the reader with a historical introduction. At the heart of this paragraph are the controversy and discourse on (...) patent laws in nineteenth century Europe as well as the pro and contra arguments presented by the anti-patent/free-trade movement respectively by the advocates of patent protection. The focus of my paper is on the struggle for the protection of inventions and innovations in nineteenth century Germany, since Walter Eucken, main representative of the Freiburg School of Law and Economics, picks up the counter-arguments presented in the national debate and in particular by the Kongress deutscher Volkswirthe. The third chapter deals intensively with the question whether patent laws are just 'nonsense upon stilts' from an ordoliberal perspective. Here, Eucken's arguments against the current patent system are elaborated in great detail. The paper ends with a summary of my main findings. Read the Open Peer Discussion on this paper ». (shrink)

There is no room for the concept of need in the prevailing neoclassical school of economics. Not so, however, in classical political economy. Through close analysis in this paper, I wish to trace the concept’s prominence in Adam Smith’s thought and to fine-tune its definitional aspects. The thrust of Smith’s argument is to delineate the mechanism via which the needs of the poorest in society are satisfied. Grounded in an understanding of need as limited and exhaustive rather than infinite, like (...) desire or preference, his theory is one of affluence rather than scarcity. But his justification of commercial society (from which the neoclassical school only lifts the conclusion) rests on becoming actually satisfied that these needs are, indeed, satisfied—an erroneous belief (at least according to the terms of Smith’s own definition) and an internal contradiction in the development of his argument, occasioned, I wish to suggest, by certain colonialist discourses. Finally, Smith’s ontology of need, as reconstructed here, corresponds to similar enquiries recently undertaken in philosophy and in some heterodox schools of economics. (shrink)

There are three main claims in the paper: first, there is sufficient evidence for affirming that Ricardo adhered to Smith’s productivity theory; second, Ricardo’s original demonstration of the comparative- advantage proposition is indeed compatible and complementary with respect to the … More ›.

Control over food supply was advanced in the kingdom of France in the Eighteenth century by Physiocrat economists under the seemingly advantageous label of 'freedom of grain trade'. In 1764 these reforms brought about a rise in grain prices and generated an artificial dearth that ruined the poor, some of whom died from malnutrition. The King halted the reform and re-established the old regime of regulated prices; in order to maintain the delicate balance between prices and wages, the monarchy tried (...) to limit speculation in subsistence goods and achieved some success in regulating the provisioning of public markets. Le Mercier de la Riviere concluded that executing these reforms required more effective political control. After 1774 the new king gave the Physiocratic reforms a second chance, reforming property rights and establishing an aristocracy of the landed rich. Again, this led to price hikes and as a result so-called 'popular emotions' erupted. Turgot ordered military intervention to dispel the protesters, marking a first rupture between the monarchy and the people over speculation on subsistence. Turgot's experiment failed and he was dismissed, but the Physiocracy had discovered that the market in subsistence offered new opportunities for economic power under the misleading legitimacy of 'economic laws'. Turgot's followers, Dupont de Nemours and Condorcet, continued to develop this 'theory' that was later translated into a 'scientific language' that ultimately asserted the autonomy of the economic sphere and its alleged independence from ethics and politics. The paper examines the continuity of events through the six great jacqueries and the French Revolution, including the all- important agrarian reform that ensued after 1792. Robespierre's concept of 'popular political economy' is analysed and compared with the notion of unfettered private property rights that lies at the heart of neoliberalism. (shrink)

The so-called Ricardian trade model of contemporary economic textbooks is not a rational reconstruction of Ricardo's famous numerical example in chapter seven of the Principles. It differs from the latter in terms of the definition of the four numbers, relevant cost comparison, rule for specialisation, assumptions and theoretical implications. Thus, the widespread critique regarding the unrealistic assumptions of the textbook trade model does not apply to Ricardo's original proof of comparative advantage.