While libertarians affirm personal responsibility as a central moral and political value, libertarian theorists write relatively little about the theory and practice of this value. Focusing on the work of F. A. Hayek and David Schmidtz, this article identifies the core of a libertarian approach to personal responsibility and demonstrates the ways in which this approach entails a radical revision of the ethics and American politics of personal responsibility. Then, I highlight several central implications of this analysis in the American (...) political and economic status quo. First, this analysis makes a mockery of so-called libertarian/conservative ‘fusionism’, such that libertarian personal responsibility cannot partner with meritocratic conservative thought to provide a plural grounding for rejecting progressive or redistributive economic policy. Next, preferred libertarian policies threaten the status, esteem and social bases of self-respect of citizens who are worse-off through little or no fault of their own. Finally, these policies undermine the ethics of personal responsibility that Americans from across the ideological spectrum value and many conservatives and libertarians celebrate. In the American status quo, those who value personal responsibility must reserve a central place for policies that mitigate opportunity and distributive inequalities. (shrink)

One of cinematic science fiction’s most popular plot lines is to imagine an invasion of earth by an advanced alien species. James Cameron’s Avatar turns the tables on that premise. Humans attack a peaceful, less technologically sophisticated race in order to exploit their natural resources. Driving the assault is a mining company hell-bent on improving its bottom line. The villain of Avatar is not a person, but those people who seek profit. To put it starkly, business is evil. But why (...) has the entertainment business cast business as a heavy? Hollywood has now made Immanuel Kant as the director of moral sentiment. Not, of course, directly, but rather the ghostwriter of Hollywood’s ideas about morality. The works of Kant are not discussed or debated in the public arena, but their principles have influenced the way people think about what is just and good. The ideas of Kant have filtered into the contemporary discourse and are one of the key ingredients in the national dialogue over what it means to be moral. The categorical imperative holds that an action is moral only if it is free from calculation of reward or gain. To be truly, moral people must abandon all practical considerations of need or desire; they must be directed by pure good will alone. Business people can never measure up to Kant’s standard. They always make choices based on cost and benefit. Their businesses would quickly go bankrupt, if they made decisions on good will rather than interest. Kant’s principles have raised the moral standard so high that even the common inclination to seek one’s own benefit is looked on with some mistrust. In Kantian-influenced movies, business people have come to play the evil antagonist; they seek gain instead of the good. How would Adam Smith, the father of economic rationality, respond to popularized Kantian morality? (shrink)

Most twenty-first century ethicists conceive of character as a stable, enduring state that is internal to the agent who possesses it. This paper argues that writers in the 17th and 18th centuries did not share this conception: as they conceived it, character is fragile and has a social ontology. The paper goes on to show that Hume’s conception of character was more like his contemporaries than like ours. It concludes with a look at the significance of such a conception for (...) current debates about the place of character in ethics. (shrink)

This dialogue engages with the ethics of politics of capitalism, and enacts a debate between two participants who have divergent views on these matters. Beginning with a discussion concerning definitions of capitalism, it moves on to cover issues concerning our different understandings of the costs and benefits of global capitalist systems. This then leads into a debate about the nature and purposes of regulation, in terms of whether regulation is intended to make competition work better for consumers, or to prevent (...) negative outcomes for citizens. The conclusion speculates about the usefulness or otherwise of this Socratic method of dialogue. (shrink)

This paper introduces the concept of business-related conspiracy theories. Drawing on Aristotelian virtue ethics and undertaking a narratological and ethical analysis of 28 BrCTs found online, I emphasize that BrCTs are narratives with structures rooted in other latent macro- and meta-narratives, including centuries-old myths. In particular, I reconstruct the fictional world of BrCTs – one in which CSR and social contracts have failed – before identifying eight different types of actors as which people can morally situate themselves in their relationships (...) with business. Finally, I elaborate on the actors’ performances and their use of external and legitimate forces to end the story. The paper concludes with a discussion of potential future research to help combat BrCTs, as well as a call for the critical study of political CSR. (shrink)

Over four decades, research and policy have created layers of understandings in the quest for "good" corporate governance. The corporate excesses of the 1970s sparked a search for market mechanisms and disclosure to empower shareholders. The UK-focused problems of the 1990s prompted board-centric, structural approaches, while the fall of Enron and many other companies in the early 2000s heightened emphasis on director independence and professionalism. With the financial crisis of 2007–09, however, came a turn in some policy approaches and in (...) academic literature seeking a different way forward. This paper explores those four phases and the discourse each develops and then links each to assumptions about accountability and cognition. After the financial crisis came pointers in policy and practice away from narrow, rationalist prescriptions and toward what the philosopher Stephen Toulmin calls "reasonableness". Acknowledging that heightens awareness of complexity and interdependence in corporate governance practice. The paper then articulates a research agenda concerning what "reasonably" good corporate governance might entail. (shrink)

In a regressive tax system, lower-income taxpayers pay larger percentages of their incomes in taxes compared to higher-income taxpayers. Although most policymakers and citizens view regressive taxation as generally unfair and unethical, the U.S. tax system taxes wage, salary, and self-employment income in a manner that deliberately subjects lower-income taxpayers to marginal tax rates that are greater than those imposed on higher-income taxpayers. As a result, some lower-income taxpayers pay a larger percentage of their income in taxes than higher-income taxpayers. (...) In this essay, we argue that this regressiveness in the taxation of salaried income is unfair and unethical. We then evaluate President Obama’s social security plan, which would retain most of the current tax system’s regressive structure. Finally, we offer two simple alternative proposals that are non-regressive, and thus more fair and ethical approaches to the taxation of salaried income. (shrink)

Abstract Modern reflection on the ideal of personal autonomy has its Western origin in the philosophy of Jean-Jacques Rousseau, where autonomy, or self-legislation, involves citizens joining together to make laws for themselves that reflect their collective understanding of the common good. Four features of this conception of autonomy continue to be relevant today. First, autonomy, a type of freedom, is introduced into modern philosophy in order to make up for a perceived deficiency, or incompleteness, in merely ?negative? freedom (the right (...) to do as one pleases, unimpeded by others). Second, autonomy is taken to be not merely a complement of negative freedom but a higher, more valuable species of freedom. Third, at its origin personal autonomy is not conceived individualistically; rather, on Rousseau's account, autonomy is achievable only if citizens surrender part of their status as individuals and think of their social membership as essential, not merely accidental, to who they are. Finally, Rousseau's conception of autonomy is distinct from the contemporary ideal of autonomy defined as judging or deciding for oneself (according to one's own reason). Nevertheless, there is an important sense in which autonomy as Rousseau conceives it also requires the developed capacity for independent, self-determined judgment. (shrink)

My brand of evolutionary economics recognizes, highlights, that modern economies are always in the process of changing, never fully at rest, with much of the energy coming from innovation. This perspective obviously draws a lot from Schumpeter. Continuing innovation, and the creative destruction that innovation engenders, is driving the system. There are winners and losers in the process, but generally the changes can be regarded as progress. The processes through which economic activity and performance evolve has a lot in common (...) with evolution in biology. In particular, at any time the economy is marked by considerable variety, there are selection forces winnowing on that variety, but also continuing emergence of new ways of doing things and often economic actors. But there also are important differences from biological evolution. In particular, both innovation and selection are to a considerable degree purposive activities, often undertaken on the basis of relatively strong knowledge. (shrink)

A comment on Paul Schoemaker's target article in Behavioral and Brain Sciences, 14 (1991), p. 205-215, "The Quest for Optimality: A Positive Heuristic of Science?" (https://doi.org/10.1017/S0140525X00066140). This comment argues that the optimizing model of decision leads to an infinite regress, once internal costs of decision (i.e., information and computation costs) are duly taken into account.

The paper''s broad aim is to provide a wider understanding of a complex virtue, "meekness". This interest is pragmatic. Contemporary research by Collins (2001) has identified "meekness" as a personal quality for highest-level leadership at great businesses, a theme identifiable also in religious and ancient philosophical narratives. Two strands of enquiry are pursued. Firstly, features of "meekness" are inferred by reference to Plato, Aristotle and Xenophon, as also to the gospel writer, Matthew, source of the title''s quotation. It concludes that (...) "meekness" is not about powers foregone but "powers controlled and exercised with discernment". The second strand addresses whether there are intrinsic differences between the ethics of business and religious activities. Narrative of a New Testament incident, apparently condemning traders, is briefly explored as a case study. Closer examination points how an inappropriate fusing of regulatory and commercial roles had created market abuses. The timeless account warns against inadequately controlled powers and provides an enduring example of how "the meek" should respond assertively against unethical conduct and avoid it themselves. While the paper acknowledges that there may be distinctive "guardian" and "commercial" syndromes for ethical prioritisation, a spiritual virtue, such as "meekness", transcends individual and organisational purposes, being aspirational for any activities that involve providing services and being accountable. (shrink)

Tocqueville’s incomplete, conflicted reflections on whether honor and war have been safely consigned to the past should alert us to the psychological, not merely sociological, difficulty of adjusting to modernity. His thoughts about memory suggest that one form of adjustment is the attempt to re‐enchant the world. Among such attempts are both the European ideologies that have spread to the Middle East—nationalism, communism, and fascism—and religious fundamentalism. The latter, in particular, responds not only to the loss of premodern enchantment, but (...) to the complexity that makes the modern world so chaotically contingent and changeable—deepening the allure of simple precepts, imposed from above, experienced directly, and adhered to inflexibly. (shrink)

Because psychotherapists are not moral teachers, they ought not to advise their clients about evaluative questions. This means that their advice must be limited to a concern with the client''s view of reality. It happens that in our times, there are prefabricated views of reality on offer from a variety of ideologies-Marxism and feminism being currently the most influential. Ideologists not only offer prefabricated realities-called consciousness- but also present a set of arguments to show that because choice is unreal, consciousness (...) is all that matters. Adopting the ideological concept of consciousness thus becomes a backdoor variant of the ultimate sin against scientific method: namely smuggling unsubstantiated, indeed undiscussed, values into therapy. (shrink)

The theoretical challenge posed by this paper is to find a conceptualisation of value for entrepreneurship theory grounded in Indigenous knowledge from a Māori perspective capable of guiding entrepreneurs operating for sustainability and wellbeing. We review Western and Māori theories of value, values, and valuation. We argue that Indigenous concepts of value centre on collective wellbeing as opposed to self-interest, and have spiritual and material elements. The paper proposes a tentative Māori theory of value we call manahau, which combines mana (...) (power, authority, and dignity) and hau (vitality of people, places, and objects). We define manahau as an axiological agent Māori entrepreneurs employ to synergistically negotiate cultural and commercial imperatives to achieve multidimensional wellbeing, human potential, and relational balance. We discuss research which illustrates manifestations of manahau in the Māori cultural ethics of utu (reciprocity) in Māori entrepreneurship and tauutuutu (reciprocity and balance) in Māori agribusiness. We argue that an Indigenous Māori theory of value has implications for entrepreneurship theory and practice. (shrink)

In his new book, "The Romantic Conception of Life: Science and Philosophy in the Age of Goethe," Robert J. Richards argues that Charles Darwin's true evolutionary roots lie in the German Romantic biology that flourished around the beginning of the nineteenth century. It is argued that Richards is quite wrong in this claim and that Darwin's roots are in the British society within which he was born, educated, and lived.

Comparable worth is a controversial compensation strategy. In this paper, research issues that arise when employers perform point-based job evaluations, but deviate from them because of market factors, are discussed. Greater research attention to the actual operation of markets and to the consequences of conflicts in equity perceptions is encouraged.

It is commonplace to say that the modern economy is knowledge based but a moment’s reflection points to the vacuity of this notion. For all economies are knowledge based and could not be otherwise. The question is rather how is one kind of knowledge based economy to be distinguished from another? This essay proposes that the answer may lie in three directions: (1) in terms of the variety of knowledge that is engaged; (2) in terms of the processes by which (...) the production of knowledge is organised, and its corollary the resources devoted to knowledge production and dissemination; and, (3) in terms of the purposes to which knowledge is put. In respect of each of these dimensions, the rise of the modern university as a custodian of knowledge in Western economy and society has been of central importance; but universities are not alone in this role, a wide range of other agencies, private firms, public research laboratories for instance play an important role in defining a knowledge economy and have done so increasingly since the turn of the nineteenth century—a first indication of the systemic dimensions of a modern knowledge economy. (shrink)

The recent arrival ofFrom Economics Imperialism to Freakonomicsby Fine and Milonakis is especially propitious given the context of the Great Recession of 2008 – and the associated decline of public faith in the verities of mainstream economics. Fine and Milonakis provide a magisterial critical survey of contemporary economics and demonstrate the need for a ‘new and truly interdisciplinary political economy’ capable of ‘incorporating the social and historical from the outset’. But their cause requires the explicit development of value analysis within (...) the framework of dialectical social theory. This requires foregrounding the ways in which Marx’s categories inCapitalare from the start historical precipitates that acknowledge their own inherent historicity. (shrink)

Insider trading has received a bad name in recent decades. The popular press makes it sound like an evil practice where those who engage in it are totally devoid of ethical principles. Yet not all insider trading is unethical and some studies have concluded that certain kinds of insider trading are actually beneficial to the greater investment community. Some scholars in philosophy, law and economics have disputed whether insider trading should be punished at all while others assert that it should (...) be illegal in all cases. This paper explores the nature of insider trading and analyzes the issues to determine the positive and negative aspects of insider trading, and how policy should be changed. The best hope would be for studies to be made that isolate the individuals or groups who are fraudulently harmed by insider trading. If any such groups exist, then clearly worded legislation could be passed to prevent any fraud from being committed against these individuals and groups, while allowing non-fraudulent transactions to be completed without fear of prosecution. Until it can be clearly determined that someone is fraudulently harmed by insider trading, there should be no law or regulation restricting the practice, since such restrictions violate individual rights and will likely have a negative market reaction. (shrink)

Insider trading has received a bad name in recent decades. The popular press makes it sound like an evil practice where those who engage in it are totally devoid of ethical principles. Yet not all insider trading is unethical and some studies have concluded that certain kinds of insider trading are actually beneficial to the greater investment community. Some scholars in philosophy, law and economics have disputed whether insider trading should be punished at all while others assert that it should (...) be illegal in all cases. This paper explores the nature of insider trading and analyzes the issues to determine the positive and negative aspects of insider trading, and how policy should be changed. The best hope would be for studies to be made that isolate the individuals or groups who are fraudulently harmed by insider trading. If any such groups exist, then clearly worded legislation could be passed to prevent any fraud from being committed against these individuals and groups, while allowing non-fraudulent transactions to be completed without fear of prosecution. Until it can be clearly determined that someone is fraudulently harmed by insider trading, there should be no law or regulation restricting the practice, since such restrictions violate individual rights and will likely have a negative market reaction. (shrink)

The paper considers apprenticeship as a model of education that both teaches technical skills and provides the grounding for personal formation. The research presented is based on long-term anthropological fieldwork with minaret builders in Yemen, mud masons in Mali and fine-woodwork trainees in London. These case studies of on-site learning and practice support an expanded notion of knowledge that exceeds propositional thinking and language and centrally includes the body and skilled performance. Crafts -- like sport, dance and other skilled physical (...) activities -- are largely communicated, understood and negotiated between practitioners without words, and learning is achieved through observation, mimesis and repeated exercise. The need for an interdisciplinary study of communication and understanding from the body is therefore underlined, and the paper suggests a way forward drawing on linguistic theory and recent neurological findings. It is argued that the validation and promotion of skilled practice as 'intelligent' is necessary for raising the status and credibility of apprenticestyle learning within our Western systems of education. (shrink)

This study explored local controls relating to trees and spacesof the local environment in Nyamaropa Communal Lands in theNyanga District of eastern Zimbabwe. Controls were consideredin a broad and inclusive framework encompassing codified rules,taboos, and, regulatory norms and emotions. Special emphasis waslaid on people‘s emotional and ethical investment in the abovecomponents of the environment – trees and spaces. The studyemployed intensive informal and group interviews. Results showthat there is tremendous emotional and ethical investment intrees and spaces of the environment in (...) Nyamaropa. Emotions comein a variety of forms: fear, shunning, love, reverence, andconfidence and security enhancement. The emotional and ethicalnorms are designed to govern behavior and the context of resourceutilization. These norms have implications on the organization ofspaces of the local environment and regimes of resource utilizationoccurring in them. Location of resources in spaces of the environmenthas implications on the management of resources within them. Thedomains of human habitation – home bases and home fields – werefound to be the most emotionally laden spaces with trees in thembeing actively planted, nurtured, conserved, eliminated, or destroyedon the basis of certain emotions and norms. The findings of the studyhave implications within the framework of decentralization and ofdemocratization of natural resource management. (shrink)

The concept of religion as an anthropological category and the idea of race as an organizing principle of human identification and social organization played a major role in the formation of modern/colonial systems of symbolic representation that acquired global significance with the expansion of Western modernity. The modern concepts of religion and race were mutually constituted and together became two of the most central categories in drawing maps of subjectivity, alterity, and sub-alterity in the modern world. This makes the critical (...) theory of religion highly relevant for the theory of race, and both of them crucial for ethics. It follows from this, not only that religion and race have been profoundly intertwined in modernity, but also that any ethics that seeks to take seriously the challenges created by modernity/coloniality has to be, at least to some extent, decolonial. (shrink)

It is a common enough view that market agents are self-interested, not benevolent or altruistic – call this market egoism – and that this is morally defensible, even morally required. There are two styles of defence – utilitarian and deontological – and while they differ, they confront a common problem. This is the availability problem. The problem is that the more successful the moral justification of self-interested economic activity, the less there is for the justification to draw upon. Religious justifications (...) of market egoism at least make a stab at dealing with the problem; secular accounts typically do not. (shrink)

This paper examines how it is possible for firms in controversial sectors, which are often marked by social taboos and moral debates, to act in socially responsible ways, and whether a firm can be socially responsible if it produces products harmful to society or individuals. It contends that a utilitarian justification can be used to support the legal and regulated provision of goods and services in these areas, and the regulated and legal provision of these areas produces less harm than (...) the real alternative—illegal and unregulated supply. Utilitarianism is concerned as much with harm minimisation as good maximisation, and both are equally important when it comes to maximising welfare (Bentham 1789, 1970; Mill [1863] 1964). Any adequate theory of CSR must, therefore, have the capacity to handle a business that minimises harm as well as those that more straightforwardly maximise good. In this paper we therefore attempt two tasks. First, we argue that the legal but regulated provision of products and services may be better from an overall utilitarian perspective than a situation in which these harmful or immoral goods and services are illegal but procurable via a black market. Porter and Kramer’s (2006) strategic CSR framework is then presented to describe how firms in these controversial sectors can act in socially responsible ways. This model highlights the importance of firm strategy in selecting areas of socially responsible behaviours that can be acted upon by firms in each industry. (shrink)

In a historical perspective, what is novel about computer games is that they are not pure games but cultural objects which allow the playful desires identified by Caillois to be fused with craftsmanship, the desire to do a job well for its own sake (Sennett). Play is often defined in opposition to work, for example by Huizinga and Caillois, but craftsmanship has two qualities which can be found in both. Firstly, craftsmanship entails creative attention to the material at hand pleasurably (...) and patiently built up through rehearsal (cf. Sennett on “material consciousness”)—“creative” is used in a sense read from Bergson which is almost synonymous with “possibility-widening”. Secondly, craftsmanship entails the satisfaction of seeing the end result of one's labours. Both qualities are essential to human well-being (Marx, Sennett, Smith). (shrink)

The paper questions current assumptions about the benefits of corporate social responsibility and the claims that corporations make on behalf of their corporate social responsibility programmes. In particular, the paper suggests that the use of corporate social responsibility for public relations ends raises moral problems over the motivation of corporations. The paper cautions that the justifications which corporations employ may either be immoral or inaccurate with regard to the empirical evidence gained from a small-scale qualitative study carried out in the (...) UK at a time when the practice of corporate social responsibility was expanding quickly (1989). It is noticeable, in retrospect, that great emphasis is placed upon environmental rather than social responsibility. This implies that organisations are primarily reactive in their development of corporate social responsibility programmes and that they respond to external pressures rather than working out the nature of their corporate responsibilities. It might suggest that corporations only take such actions when they feel compelled to do so by consumerist and environmentalist lobbies. The paper argues that corporations do need to find moral justifications for their moral activities and to ensure that corporate social responsibility practice lives up to the claims made by public relations practitioners. The paper explores the nature of public relations and illustrates how its responsibility for corporate social responsibility extends beyond truthfulness in publicity. (shrink)

This essay revisits Karl Marx’s understanding of consumption, in an effort to rescue it from the overshadowing legacy of critical theory which has construed Marx as inveighing against false needs. It is argued that Marx regarded the expansion of needs entailed by capitalism in a generally favourable way, but saw capitalism as a system yoking use-value to the imperatives of profit accumulation, hence limiting and subjugating the consumption of the masses. While Marx’s position was radically different from conventional anti-consumerism it (...) is equally incompatible with complacent affirmations of ‘the consumer society’ in that Marx at all times aimed at a revolutionary change which will transform consumption both quantitatively and qualitatively. Marx’s views are first discussed as expressed in the perennially-cited text, the 1844Economic and Philosophical Manuscripts. The second part moves on to examine the further evolution of Marx’s ideas as found in later texts, particularly theGrundrisse. (shrink)

The article explores the early Marx’s vision of communal relationships, which is centered on the idea that in producing for others individuals can be concerned with satisfying the needs of others, and may reciprocally value their interdependence in producing for one another. It is argued that if the ideal of communal reciprocity is to be realized in a viable and desirable form, it must be compatible with some forms of self-interest, social indifference and instrumental action, typically realized through the institution (...) of the market. The article shows that communal reciprocity may go together with market reciprocity as long as market relations are structured such that exploitative motives are not systematically promoted. The article examines various economic institutions that could meet the non-exploitation requirement, either by transforming the constitutive rules of the market, in contrast to its regulative rules, or by regulating the market internally, in contrast to its external regulation. (shrink)

Children and adults may not realize how much they depend on external sources in understanding word meanings. Four experiments investigated the existence and developmental course of a “Misplaced Meaning” effect, wherein children and adults overestimate their knowledge about the meanings of various words by underestimating how much they rely on outside sources to determine precise reference. Studies 1 and 2 demonstrate that children and adults show a highly consistent MM effect, and that it is stronger in young children. Study 3 (...) demonstrates that adults are explicitly aware of the availability of outside knowledge, and that this awareness may be related to the strength of the MM effect. Study 4 rules out general overconfidence effects by examining a metalinguistic task in which adults are well calibrated. (shrink)

If it is accepted that the real marketplace does not necessarily distribute wealth in the manner that the ideal market would have done, and that societal institutions have an obligation to bring the real and ideal market distributions into accord, then it can be argued that economic actors have a responsibility to consider the effects of their activities on the distribution of wealth in society. This paper asserts that businesses have a responsibility to consider the wealth distribution effects of their (...) wealth-creating decisions. We use arguments from moral economics and Catholic social teaching to support this assertion, deriving decision principles that we apply to the Starbucks fair trade coffee case. (shrink)

Discussions of altruism occur in three importantly different contexts. During the past four decades, evolutionary theory has been concerned with the possibility that forms of behaviour labelled as altruistic could emerge and could be maintained under natural selection. In these discussions, an agent A is said to act altruistically towards a beneficiary B when A's action promotes the expected reproductive success of B at expected reproductive cost to A. This sort of altruism, biological altruism, is quite different from the kind (...) of behaviour important to debates about ethical and social issues. There the focus is on psychological altruism, a notion that is concerned with the intentions of the agent and that need have no connection with the spread of anyone's genes. Psychological altruists are people with other-directed desires, emotions or intentions (this is a rough preliminary characterization, to be refined below). Finally, in certain kinds of social scientific research, the important concept is that of behavioural altruism. From the outside, behavioural altruists look like psychological altruists, although their motives and preferences may be very different. (shrink)

This article describes answerability, a fundamental component of social reason and action. "Holding answerable" and "being answerable" are characterized in terms of their roles in the drama of human relations, and our general tendency to anticipate answerable, rather than ethical, behavior in situations that are ethically problematic is discussed.

Over the past few decades the pace of change in the business environment has been rapid, as the effects of electronic innovations and the acceptance of the globalisation mind-set have occurred. Communism has collapsed and the power of corporations has grown in the global community that has developed. It has become imperative that business decision-makers become aware that their decisions may limit the choices of future generations by irretrievably destroying the currently existing physical and social environment. Decision-making in today's business (...) environment will have a profound affect on human well-being in general and specifically on the breadth of options that are provided to the business decision-makers of tomorrow. Against this background it is argued that senior managers should adopt a new paradigm through which to view the world and assess the import of their decisions. Managers need to consider the effects of their decisions not only on the economy but also on the environment and the social world, which the economy is meant to serve. Managers must ensure their ways of doing business are sustainable. (shrink)