Commodities and Capabilities presents a set of inter-related theses concerning the foundations of welfare economics, and in particular about the assessment of personal well-being and advantage. The argument presented focuses on the capability to function, i.e. what a person can do or can be, questioning in the process the more standard emphasis on opulence or on utility. In fact, a person's motivation behind choice is treated here as a parametric variable which may or may not coincide with the pursuit of (...) self-interest. Given the large number of practical problems arising from the roles and limitations of different concepts of interest and the judgement of advantage and well-being, this scholarly investigation is both of theoretical interest and practical import. (shrink)

Mark Sagoff has written an engaging and provocative book about the contribution economics can make to environmental policy. Sagoff argues that economics can be helpful in designing institutions and processes through which people can settle environmental disputes. However, he contends that economic analysis fails completely when it attempts to attach value to environmental goods. It fails because preference-satisfaction has no relation to any good. Economic valuation lacks data because preferences cannot be observed. Willingness to pay is benchmarked on market price (...) and thus may reflect producer cost not consumer benefit. Moreover, economists cannot second-guess market outcomes because they have no better information than market participants. Mark Sagoff's conclusion is that environmental policy turns on principles that are best identified and applied through political processes. Written with verve and fluency, this book will be eagerly sought out by students and professionals in environmental policy as well as informed general readers. (shrink)

In this book Taylor brings together some of his best essays, including "Overcoming Epistemology," "The Validity of Transcendental Argument," "Irreducibly Social ...

One of the core debates concerning equity in the response to the threat of anthropogenic climate change is how the responsibility to reduce greenhouse gas emissions should be allocated, or, correspondingly, how the right to emit greenhouse gases should be allocated. Two alternative approaches that have been widely promoted are, first, to assign obligations to the industrialized countries on the basis of both their ability to pay and their responsibility for the majority of prior emissions, or, second, to assign emissions (...) rights on a equal per capita basis. Both these proposals ignore intra-national distributional equity. Instead, we develop a policy framework we call 'Greenhouse Development Rights' which allocates obligations to pay for climate policies on the basis of an individually quantified metric of capacity and responsibility . Crucially, the GDRs framework looks at the distribution of income within countries and treats people of equal wealth similarly, whatever country they live in. Thus even poor countries have obligations proportional to the size and wealth of their middle and upper classes, defined relative to a 'development threshold'. While this method nominally identifies the 'right to development' as applying to people, not countries, as a proposal for a treaty among sovereign nations, there is no obvious way to give legal meaning to that right. In this paper, then, we raise some of the philosophical and political questions that arise in trying to quantify capacity and responsibility and to use the 'right to development' as a principle for allocating costs.*. (shrink)

One of the core debates concerning equity in the response to the threat of anthropogenic climate change is how the responsibility to reduce greenhouse gas emissions should be allocated, or, correspondingly, how the right to emit greenhouse gases should be allocated. Two alternative approaches that have been widely promoted are, first, to assign obligations to the industrialized countries on the basis of both their ability to pay (wealth) and their responsibility for the majority of prior emissions, or, second, to assign (...) emissions rights on a (possibly modified) equal per capita basis. Both these proposals ignore intra-national distributional equity. Instead, we develop a policy framework we call ‘Greenhouse Development Rights’ (GDRs) which allocates obligations to pay for climate policies (both mitigation and adaptation) on the basis of an individually quantified metric of capacity (ability to pay) and responsibility (prior emissions). Crucially, the GDRs framework looks at the distribution of income within countries and treats people of equal wealth similarly, whatever country they live in. Thus even poor countries have obligations proportional to the size and wealth of their middle and upper classes, defined relative to a ‘development threshold’. While this method nominally identifies the ‘right to development’ as applying to people, not countries, as a proposal for a treaty among sovereign nations, there is no obvious way to give legal meaning to that right. In this paper, then, we raise some of the philosophical and political questions that arise in trying to quantify capacity and responsibility and to use the ‘right to development’ as a principle for allocating costs.Footnote**The ‘Greenhouse Development Rights’ (GDRs) framework is a collective project. The core team includes the author, Tom Athanasiou, Sivan Kartha and Eric Kemp-Benedict; this is the ‘we’ that appears where the text refers to the project, as in ‘we intended this’, and so on. This paper, however, is primarily the author's own product and, beyond the description of GDRs, my collaborators have not read or approved it; thus much of the writing and philosophical speculation uses the first person singular. And, while credit for useful work goes to all team members, the blame for philosophical sloppiness remains with the author. (shrink)