Since the global financial crisis in 2008, corporations have faced a crisis of trust, with growing sentiment against ‘elites and ‘big business’ and a feeling that ‘something ought to be done’ to re-establish public regard for corporations. Trust and trustworthiness are deeply moral significant. They provide the ‘glue or lubricant’ that begets reciprocity, decreases risk, secures dignity and respect, and safeguards against the subordination of the powerless to the powerful. However, in deciding how to restore trust, it is difficult (...) to determine precisely what should be done, by whom, and who will bear the cost, especially if any action involves a risk to overall market efficiency and corporate profitability. The paper explores whether corporations have a moral duty to be trustworthy, to bear the cost of being so and thus contribute to resolving the current crisis of trust. It also considers where the state and other social actors have strong reason to protect and enforce such moral rights, while acknowledging that other actors have similar obligations to be trustworthy. It outlines five ‘salient factors’ that trigger specific rights to trustworthiness and a concomitant duty on corporations to be trustworthy: market power, subordination (threat and intimidation), the absence of choice, the need to preserve systemic trust, and corporate political power which might undermine a state’s legitimacy. Absent these factors and corporations do not have a general duty to be trustworthy, since a responsible actor in fair market conditions should be able to choose between the costs and benefits of dealing with generally trustworthy corporations. (shrink)

Abstract: We examine how trustworthy behaviour can be achieved in the financial sector. The task is to ensure that firms are motivated to pursue long-term interests of customers rather than pursuing short-term profits. Firms’ self-interested pursuit of reputation, combined with regulation, is often not sufficient to ensure that this happens. We argue that trustworthy behaviour requires that at least some actors show a concern for the wellbeing of clients, or a respect for imposed standards, and that the behaviour of these (...) actors is copied in such a way that it becomes a behavioural norm. We briefly suggest what such behavioural norms might need to be if trustworthy behaviour is to be achieved, and consider how they might be supported; we describe the research that is necessary in order to understand these norms in more detail. We argue that the norms of traders are different from the norms of those engaged in other activities, since they are inevitably self-interested, and we consider the risk that traders’ norms might undermine those of other actors. We analyse the task for governance in dealing with this problem, and the role which leadership by a corporate board and management might play in doing this. We describe the need for further research in to describe how this might be done. (shrink)

Societies need markets, so just as trustworthy professionals are needed in fields such as healthcare, law and education, modern societies need trustworthy market managers, including corporate officers and directors. But in its screening of candidates, U.S. corporate business has lagged behind fields such as medicine and law, which in the nineteenth century addressed their need for screening by upgrading professional education and establishing licensing of individual practitioners. Corporate business, by contrast, has been too tolerant of problematic executives, (...) particularly executives of a type shown by recent research in psychology to exhibit a set of personality traits including below average concern about bad effects of their actions on other people. Over-representation of this problematic type has cost corporate business the trust and respect it could earn by resting fully on a time-honored alternative foundation already espoused by many trustworthy teachers and practitioners of business. Society needs these trustworthy people of business to work together to establish screening of candidates for high level corporate positions by upgrading MBA education and establishing licensing for these positions. For reasons again based on current findings in psychology, screening candidates for the MBA could be significantly strengthened by requiring historical studies, particularly history of the corporate legal structure in the U.S. and history of the MBA itself. Upgrading the MBA and establishing correlated licensing could open the way toward corrections in the legal form of the corporation to bring it into line with hospitals, law courts and universities as places where responsible professionals pursue their callings on behalf of society. (shrink)

Since anonymous agents can spread misinformation with impunity, many people advocate for greater accountability for internet speech. This paper provides a veritistic argument that accountability mechanisms can cause significant epistemic problems for internet encyclopedias and social media communities. I show that accountability mechanisms can undermine both the dissemination of true beliefs and the detection of error. Drawing on social psychology and behavioral economics, I suggest alternative mechanisms for increasing the trustworthiness of internet communication.

Overconfidence is typically damaging to one’s reputation as a trustworthy source of information. Previous research shows that the reputational cost associated with conveying a piece of false information is higher for confident than unconfident speakers. When judging speaker trustworthiness, individuals do not exclusively rely on past accuracy but consider the extent to which speakers expressed a degree of confidence that matched the accuracy of their claims (their “confidence-accuracy calibration”). The present study experimentally examines the interplay between confidence, accuracy and (...) a third factor, namely evidence, in the assessment of speaker trustworthiness. Experiment 1 probes the hypothesis that overconfidence does not backfire when a confident but inaccurate claim is justified: the trustworthiness of a confident speaker who turns out to be wrong is restored if the confidence expressed is based on strong evidence (good confidence-evidence calibration). Experiment 2 investigates the hypothesis that confidence can backfire if a confident and accurate claim is not justified: the trustworthiness of a confident speaker who turns out to be right is damaged if the confidence expressed is based on weak evidence (bad confidence-evidence calibration). Our results support both hypotheses and thus suggest that “confidence-evidence calibration” plays a crucial role in the assessment of speaker trustworthiness. (shrink)

Situationists such as John Doris, Gilbert Harman, and Maria Merritt suppose that appeal to reliable behavioral dispositions can be dispensed with without radical revision to morality as we know it. This paper challenges this supposition, arguing that abandoning hope in reliable dispositions rules out genuine trust and forces us to suspend core reactive attitudes of gratitude and resentment, esteem and indignation. By examining situationism through the lens of trust we learn something about situationism (in particular, the radically revisionary moral implications (...) of its adoption) as well as something about trust (in particular, that the conditions necessary for genuine trust include a belief in a capacity for robust dispositions). (shrink)

Corporate social responsibility (CSR) is one of the most prominent concepts in the literature and, in short, indicates the positive impacts of businesses on their stakeholders. Despite the growing body of literature on this concept, the measurement of CSR is still problematic. Although the literature provides several methods for measuring corporate social activities, almost all of them have some limitations. The purpose of this study is to provide an original, valid, and reliable measure of CSR reflecting the responsibilities (...) of a business to various stakeholders. Based on a proposed conceptual framework of CSR, a scale was developed through a systematic scale development process. In the study, exploratory factor analysis was conducted to determine the underlying factorial structure of the scale. Data was collected from 269 business professionals working in Turkey. The results of the analysis provided a four-dimensional structure of CSR, including CSR to social and nonsocial stakeholders, employees, customers, and government. (shrink)

Where does entitlement to trust come from? When we trust someone to φ, do we need to have reason to trust them to φ or do we start out entitled to trust them to φ by default? Reductivists think that entitlement to trust always “reduces to” or is explained by the reasons that agents have to trust others. In contrast, anti-reductivists think that, in a broad range of circumstances, we just have entitlement to trust. even if we don’t have positive (...) reasons to do so. In this paper, we argue for a version of anti-reductivism. Roughly, we argue that we have default entitlement to trust someone to φ so long as there is an operative norm that requires S to φ. At least in such circumstances (and absent defeaters), we don’t need any positive reasons to trust S to φ. (shrink)

Simion and Kelp explain the trustworthiness of an AI based on that AI’s disposition to meet its obligations. Roughly speaking, according to Simion and Kelp, an AI is trustworthy regarding its task if and only if that AI is obliged to complete the task and its disposition to complete the task is strong enough. Furthermore, an AI is obliged to complete a task in the case where the task is the AI’s etiological function or design function. This account has (...) a strength in that it can provide a unificatory rationale for the trustworthy-making properties of AIs. According to this account, being explainable, being safe, and being transparent are the trustworthy-making properties of an AI because an AI can fulfill its etiological or design functions in the case where it is explainable, safe, and transparent. This paper shows that though Simion and Kelp’s account has a strength, this account is not satisfactory for two reasons. The first reason is that an AI’s trustworthiness is not determined just by the AI’s disposition to meet obligations, and the second reason is that it is difficult to explain how an AI’s etiological function and design function have to do with that AI’s obligations. To provide a full-fledged account, Simion and Kelp should dismiss these concerns. (shrink)

A widespread assumption in debates about trust and trustworthiness is that the evaluative norms of principal interest on the trustor’s side of a cooperative exchange regulate trusting attitudes and performances whereas those on the trustee’s side regulate dispositions to respond to trust. The aim here will be to highlight some unnoticed problems with this asymmetrical picture – and in particular, how it elides certain key evaluative norms on both the trustor’s and trustee’s side the satisfaction of which are critical (...) to successful cooperative exchanges – and to show that a symmetrical, ‘achievement-first’ approach to theorising about trust and trustworthiness (and their relation to each other) has important advantages by comparison. The view I develop is guided by a structural analogy with practical reasoning. Just as practical reasoning is working as it should only when there is realisation (knowledge and action) of states (belief and intention) with reverse directions of fits (mind-to-world and world-to-mind), likewise, cooperation between trustor and trustee is functioning as it should only when there is an analogous kind of realisation on both sides of the cooperative exchange – viz., when the trustor ‘matches’ her achievement in trusting (an achievement in fitting reliance to reciprocity) with the trustee’s achievement in responding to trust (an achievement in fitting reciprocity to reliance). An upshot of viewing cooperation between trustor and trustee as exhibiting achievement-theoretic structure is that we will be better positioned to subsume trustworthiness (and its cognates on the trustee’s side), like trust, under a wider suite of evaluative norms that regulate attempts, dispositions, and achievements symmetrically on both sides of a cooperative exchange, with ‘matching achievements’ as the gold standard. (shrink)

This paper examines how science advice can provide policy recommendations in a trustworthy manner. Despite their major political importance, expert recommendations are understudied in the philosophy of science and social epistemology. Matthew Bennett has recently developed a notion of what he calls recommendation trust, according to which well-placed trust in experts’ policy recommendations requires that recommendations are aligned with the interests of the trust-giver. While interest alignment might be central to some cases of public trust, this paper argues against the (...) significance of interest-alignment to meritorious public trust. First, political bodies and citizens can have a basic kind of well-placed recommendation trust in science advice based on an all-things-considered judgement regarding the possession of relevant competencies, responsible conduct, and a proper institutional design. Moreover, scientists’ policy recommendations can be seen as open-ended and as dynamic proposals that enable inter-institutional reasoning and political deliberation. Finally, by providing conditional recommendations, scientists can expand the scope of feasible policy options from which political bodies can choose, thus making the condition of interest alignment even less significant to the trustworthy provision of recommendations. (shrink)

Trust can be thought of as a three place relation: A trusts B to do X. Trustworthiness has two components: competence (does the trustee have the relevant skills, knowledge and abilities to do X?) and willingness (is the trustee intending or aiming to do X?). This chapter is about the willingness component, and the different motivations that a trustee may have for fulfilling trust. The standard assumption in economics is that agents are self-regarding, maximizing their own consumption of goods (...) and services. This is too restrictive. In particular, people may be concerned with the outcomes of others, and they may be concerned to follow ethical principles. I distinguish weak trustworthiness, which places no restrictions on B’s motivation for doing X, from strong trustworthiness, where the behaviour must have a particular non-selfish motivation, in finance the fiduciary commitment to promote the interests of the truster. I discuss why strong trustworthiness may be more efficient and also normatively preferable to weak. In finance, there is asymmetric information between buyer and seller, which creates a need for trustworthy assessment of products. It also creates an ambiguity about whether the relationship is one of buyer and seller, governed by caveat emptor, or a fiduciary relationship of advisor and client. This means that there are two possible reasons why trust may be breached: because the trustee didn’t realise that the truster framed the relationship as a fiduciary one, or because the trustee did realise but actively sought to take advantage of the trust. Correspondingly, there are two possible types of agent: normal people who are not always self-regarding and who are trust responsive (if they believe that they are being trusted then they are likely to fulfill that trust), and knaves, after Hume’s character who is always motivated by his own private interest. We can increase the trustworthiness of normal people by getting them to re-frame the situation as one of trust, so they will be strongly trustworthy (i.e. change of institutional culture), and by providing non-monetary incentives (the correct choice of incentive will depend on exactly what their non-selfish motivation is). Knaves need sanctions, which can make them weakly trustworthy. However, this is a delicate balance because sanctions can crowd out normative frames. We can also increase the trustworthiness of financiers by making finance less attractive to knaves; changing the mix of types in finance could help support the necessary cultural change. (shrink)

This essay analyses the Confucian conception of xin, an attribute that broadly resembles what we would ordinarily call trustworthiness. More specifically, it provides an analysis of the psychology of someone who is xin and highlights a feature of the Confucian conception of trustworthiness: the trustworthy person has to ensure that there is a match between her self-presentation and the way she is. My goal is not to argue against any of the existing accounts of trustworthiness but to (...) draw on Confucian insights so as to shed light on features of trustworthiness that are overlooked in current discussions. I hope to show that the Confucian conception of trustworthiness puts more emphasis on the way a trustworthy person actively tries to make sure another’s dependency on her is not unwarranted than on how the trustworthy person responds to the one who gives trust. (shrink)

Recently, a number of people have argued that certain entities embodied by groups of agents themselves qualify as agents, with their own beliefs, desires, and intentions; even, some claim, as moral agents. However, others have independently argued that fully-fledged moral agency involves a capacity for reactive attitudes such as guilt and indignation, and these capacities might seem beyond the ken of “collective” or “ corporate ” agents. Individuals embodying such agents can of course be ashamed, proud, or indignant about (...) what the agent has done. But just as an entity needs to have its own beliefs, desires, and intentions to qualify as a bona fide agent, the required capacity for reactive attitudes is a capacity to have one’s own reactive attitudes. If fully-fledged moral agency requires reactive attitudes, the corporate agent must itself be capable of guilt and indignation. In this paper, we argue that at least certain corporate agents are. Or, more precisely, we argue that if there are bona fide corporate agents, these agents can have the capacities that are both associated with guilt and indignation and plausibly required for moral agency; in particular certain epistemic and motivational capacities. (shrink)

Corporations have often been taken to be the paradigm of an organization whose agency is autonomous from that of the successive waves of people who occupy the pattern of roles that define its structure, which licenses saying that the corporation has attitudes, interests, goals, and beliefs which are not those of the role occupants. In this essay, I sketch a deflationary account of agency-discourse about corporations. I identify institutional roles with a special type of status function, a status role, in (...) which the collectively accepted function is expressed in part through its occupier’s intentional expression of her agency in that role. I identify institutions as systems of status roles and show how this is compatible with seeing the agency of institutions generally, even over time periods in which there is complete change in role occupiers, as a matter of the contributions only of individual agents. I explain how the reduction of the institution to its members is compatible with its potentially having had a completely different membership. I show in the case of the corporation in particular that, once we see its origins and function, the surface features of legal discourse about corporate agency are misleading and are compatible with a deflationary account of corporate agency. I show in connection with this that the corporation is to be identified with its shareholders, and that where a corporation separates ownership and control, its managers and employees are proxy agents of the shareholders doing business under the corporate form. Finally, I canvass the legitimate ways of construing ordinary talk about corporate intention, belief, and so on, in light of this, none of which support the attribution of genuine agency or intentionality to any group per se associated with the corporation. (shrink)

Algorithm engineering is sometimes portrayed as a new 21st century return of manipulative social engineering. Yet algorithms are necessary tools for individuals to navigate online platforms. Algorithms are like a sensory apparatus through which we perceive online platforms: this is also why individuals can be subtly but pervasively manipulated by biased algorithms. How can we better understand the nature of algorithm engineering and its proper function? In this chapter I argue that algorithm engineering can be best conceptualized as a type (...) of environmental engineering aimed at making the online environment more hospitable to human use, in particular by safeguarding the conditions that allow for trust. (shrink)

Trustworthiness is typically regarded as a desirable feature of national identification systems (NISs); but the variegated nature of the trustor communities associated with such systems makes it difficult to see how a single system could be equally trustworthy to all actual and potential trustors. This worry is accentuated by common theoretical accounts of trustworthiness. According to such accounts, trustworthiness is relativized to particular individuals and particular areas of activity, such that one can be trustworthy with regard to (...) some individuals in respect of certain matters, but not trustworthy with regard to all trustors in respect of every matter. The present article challenges this relativistic approach to trustworthiness by outlining a new account of trustworthiness, dubbed the expectation-oriented account. This account allows for the possibility of an absolutist (or one-place) approach to trustworthiness. Such an account, we suggest, is the approach that best supports the effort to develop NISs. To be trustworthy, we suggest, is to minimize the error associated with trustor expectations in situations of social dependency (commonly referred to as trust situations), and to be trustworthy in an absolute sense is to assign equal value to all expectation-related errors in all trust situations. In addition to outlining the features of the expectation-oriented account, we describe some of the implications of this account for the design, development, and management of trustworthy NISs. (shrink)

Despite decades of theorising and empirical research, the problems of corporate governance seem intractable, particularly the relationships between investors and companies. The thought experiment in this paper asks us to look at the problem through a fresh lens. It draws on the quaint British legal custom of calling shareholders “members”, and then uses the political philosopher Michael Walzer’s idea of membership in states, clubs, neighbourhoods, and families to draw lessons for the corporate world. This paper suggests that seeing (...) how Walzer conceives “strangers” in a polity, with fewer rights but a path to membership, lets us rethink shareholder rights as something to be earned, through engagement and commitment, that is, through stewardship. Rethinking what membership of a company might mean points to a pragmatic escape from short-termism without institutional reform. (shrink)

Authors critical of corporate power focus almost exclusively on one solution: bringing it under democratic control. However important this is, there are at least two other options, which are rarely discussed: reducing powerful firms’ size and influence, or accepting corporate power as a necessary evil. This article provides a comparative perspective for evaluating all three options. It argues that the trade-offs we face in responding to corporate power have a trilemmatic structure. The pure strategies of accepting powerful (...) firms, breaking them up, or rendering them more accountable are each incompatible with one of three important values: power balance, economies of scale, and minimizing agency costs, respectively. While the latter two concepts are purely economic and efficiency-based, the value of power balance can be grounded in a variety of reasons. Different normative interpretations of power balance are discussed, along with their implications for policy choices within the trilemma. (shrink)

The aim of this paper is twofold: first, I provide a cluster of theories of truth in classical logic that is (internally) consistent with global reflection principles: the theories of positive truth (and falsity). After that, I analyse the _epistemic value_ of such theories. I do so employing the framework of cognitive projects introduced by Wright (Proc Aristot Soc 78:167–245, 2004), and employed—in the context of theories of truth—by Fischer et al. (Noûs 2019. https://doi.org/10.1111/nous.12292 ). In particular, I will argue (...) that theories of positive truth are _trustworthy_, analogously to the theories of full disquotational truth. Moreover, I argue that, for a given cognitive project, _if_ the acceptance of trustworthy theories is taken to be an _epistemic norm_ of cognitive project, then one has good reasons to accept theories of positive truth over other rival theories of truth in classical logic. On the other hand, the latter theories are deemed epistemically unacceptable. (shrink)

Cyberspace relies on information technologies to mediate relations between different people, across different communication networks and is reliant on the supporting technology. These interactions typically occur without physical proximity and those working depending on cybersystems must be able to trust the overall human–technical systems that support cyberspace. As such, detailed discussion of cybersecurity policy would be improved by including trust as a key value to help guide policy discussions. Moreover, effective cybersystems must have resilience designed into them. This paper argues (...) that trustworthy cybersystems are a key element to resilient systems, and thus are core to cybersecurity policy. The paper highlights the importance of trustworthiness for resilient cybersystems. The importance of trustworthiness is shown through a discussion of three events where trustworthiness was the target or casualty of cyberattacks: Stuxnet, hacking of communications and the Edward Snowden revelations. The impact of losing trust is highlighted, to underpin the argument that a resilient cybersystem ought to design in trustworthiness. The paper closes off by presenting a general set of policy implications arising from recognition of the interplay between trust, trustworthiness and resilience for effective cybersecurity. (shrink)

Worsening energy crises and the growing effects of climate change have spurred, among other things, concerted efforts to tackle global problems through what the United Nations calls Sustainable Development Goals (SDGs). These are in turn argued to be best achieved via the adoption of environmental, social, and corporate governance (ESG) as the vehicle for guiding our efforts. However, though these things are often presented as the solution to global issues, they are increasingly being used as a means to centralize (...) power and exacerbate growing authoritarian trends. This article aims to demonstrate how the narratives surrounding ESG mask this reality, taking as a solution one of the foundational causes of global wealth and power disparity. (shrink)

We argue that, to be trustworthy, Computa- tional Intelligence (CI) has to do what it is entrusted to do for permissible reasons and to be able to give rationalizing explanations of its behavior which are accurate and gras- pable. We support this claim by drawing par- allels with trustworthy human persons, and we show what difference this makes in a hypo- thetical CI hiring system. Finally, we point out two challenges for trustworthy CI and sketch a mechanism which could be (...) used to gener- ate sufficiently accurate as well as graspable rationalizing explanations for CI behavior. (shrink)

Most business ethicists maintain that corporate actors are subject to a variety of moral obligations. However, there is a persistent and underappreciated concern that the competitive pressures of the market somehow provide corporate actors with a far-reaching excuse from meeting these obligations. Here, we assess this concern. Blending resources from the history of philosophy and strategic management, we demonstrate the assumptions required for and limits of this excuse. Applying the idea of ‘the state of nature’ from Thomas Hobbes, (...) we suggest that corporate actors would be excused from duties if complying with them threatened their vital interests. We show how this excuse is not available for most individuals within firms; instead, it is an excuse perhaps available to firms themselves, but only given substantive assumptions about corporate personhood. For those willing to make these assumptions, we apply the competitive advantage construct to delimit the scope of this excuse. We suggest that firms are excused from fulfilling an obligation when complying leads to a competitive disadvantage, as this imperils the firm’s vital interests. After revealing why this excuse does not generalize, we conclude by considering when we should reform the market to avoid the legitimacy of this excuse. (shrink)

Can a group be morally responsible instead of, or in addition to, its members? An influential defense of corporate responsibility is based on results in social choice theory suggesting that a group can form and act on attitudes held by few, or even none, of its members. The members therefore cannot be (fully) responsible for the group’s behavior; the group itself, as a corporate agent, must be responsible. In this paper, I reject this view of corporate responsibility (...) by showing how it pays insufficient attention to individual agency. By accounting for group members’ strategic behavior, we shall see how they control collective attitude formation and are therefore responsible for their group’s behavior. (shrink)

A theme running through Katherine Hawley’s recent works on trust and trustworthiness is that thinking about the relations between these and Miranda Fricker’s notion of testimonial injustice offers a perspective from which we can see several limitations of Fricker’s own account of testimonial injustice. This paper clarifies the aspects of Fricker’s account that Hawley’s criticisms target, focusing on her objections to Fricker’s proposal that its primary harm involves a kind of epistemic objectification and her characterization of testimonial injustice in (...) terms of prejudicial credibility deficits. I also offer an assessment of the potency of Hawley’s objections, concluding that they do point to genuine limitations of Fricker’s account, but that we can appreciate Hawley’s points without adopting her trust-centric approach to testimonial injustice, or her specific commitment-based accounts of trust and trustworthiness. However, in the last section I examine the positive picture of testimonial injustice that emerges from Hawley’s discussion of unequally distributed obstacles to both being trustworthy and maintaining a reputation for trustworthy testimony in her recent book How To Be Trustworthy, considering how this picture contrasts with Fricker’s account and where it might have important affinities with other accounts in the literature. (shrink)

AI systems that demonstrate significant bias or lower than claimed accuracy, and resulting in individual and societal harms, continue to be reported. Such reports beg the question as to why such systems continue to be funded, developed and deployed despite the many published ethical AI principles. This paper focusses on the funding processes for AI research grants which we have identified as a gap in the current range of ethical AI solutions such as AI procurement guidelines, AI impact assessments and (...) AI audit frameworks. We highlight the responsibilities of funding bodies to ensure investment is channelled towards trustworthy and safe AI systems and provides case studies as to how other ethical funding principles are managed. We offer a first sight of two proposals for funding bodies to consider regarding procedures they can employ. The first proposal is for the inclusion of a Trustworthy AI Statement’ section in the grant application form and offers an example of the associated guidance. The second proposal outlines the wider management requirements of a funding body for the ethical review and monitoring of funded projects to ensure adherence to the proposed ethical strategies in the applicants Trustworthy AI Statement. The anticipated outcome for such proposals being employed would be to create a ‘stop and think’ section during the project planning and application procedure requiring applicants to implement the methods for the ethically aligned design of AI. In essence it asks funders to send the message “if you want the money, then build trustworthy AI!”. (shrink)

Abstract: There are epistemic manipulators in the world. These people are actively attempting to sacrifice epistemic goods for personal gain. In doing so, manipulators have led many competent epistemic agents into believing contrarian theories that go against well-established knowledge. In this paper, I explore one mechanism by which manipulators get epistemic agents to believe contrarian theories. I do so by looking at a prominent empirical model of trustworthiness. This model identifies three major factors that epistemic agents look for when (...) trying to determine who is trustworthy. These are (i) ability, (ii) benevolence, and (iii) moral integrity. I then show how manipulators can manufacture the illusion that they possess these factors. This leads epistemic agents to view manipulators as trustworthy sources of information. Additionally, I argue that fact-checking will be an ineffective – or even harmful – practice when correcting the beliefs of epistemic agents who have been tricked by this illusion of epistemic trustworthiness. I suggest that in such cases we should use an alternative correction, which I call trust undercutting. (shrink)

While researchers in business ethics, moral philosophy, and jurisprudence have advanced the study of corporate agency, there have been very few attempts to bring together insights from these and other disciplines in the pages of the Journal of Business Ethics. By introducing to an audience of business ethics scholars the work of outstanding authors working outside the field, this interdisciplinary special issue addresses this lacuna. Its aim is to encourage the formulation of innovative arguments that reinvigorate the study of (...) corporate agency and stimulate further cross-fertilization of ideas between business ethics, law, philosophy, and other disciplines. (shrink)

Social epistemologists often operationalize the task of indirectly assessing experts’ trustworthiness to identifying whose beliefs are more reliably true on matters in an area of expertise. Not only does this neglect the philosophically rich space between belief formation and testimonial utterances, it also reduces trustworthiness to reliability. In ethics of trust, by contrast, explicitly relational views of trust include things like good will and responsiveness. One might think that relational aspects can be safely set aside for social epistemology (...) of trust in experts, that such considerations may be relevant for personal relationships but not for expert trustworthiness. Against these claims I argue for the social-epistemic relevance of relational aspects of trust in experts, and to that end I discuss three sorts of considerations – responsively positive, neutral, and negative factors – that can make a difference for expert trustworthiness. (shrink)

The fear that business corporations have claimed unwarranted constitutional protections which have entrenched corporate power has produced a broad social movement demanding that constitutional rights be restricted to human beings and corporate personhood be abolished. We develop a critique of these proposals organized around the three salient rationales we identify in the accompanying narrative, which we argue reflect a narrow focus on large business corporations, a misunderstanding of the legal concept of personhood, and a failure to distinguish different (...) kinds of constitutional rights and the reasons for assigning them. Corporate personhood and corporate constitutional rights are not problematic per se once these notions are decoupled from biological, metaphysical, or moral considerations. The real challenge is that we need a principled way of thinking about the priority of human over corporate persons which does not reduce the efficacy of corporate institutions or harm liberal democracies. (shrink)

In the correspondence with Arnauld, Leibniz contends that each corporeal substance has a substantial form. In support he argues that to be real a corporeal substance must be one and indivisible, a true unity. I will show how this argument precludes a tempting interpretation of corporeal substances as composite unities. Rather it mandates the interpretation that each corporeal substance is a single monad.

I reply to Piazza's objection to my reductio against phenomenal conservatism.

There are two main questions that any account of corporate lawyers’ moral obligations needs to answer: (1) Do corporate lawyers have moral obligations to third parties? and (2) In cases of conflict between obligations to the corporation and obligations to third parties, which should prevail? This Article offers answers to these questions in the context of lawyers working in medical corporations. I argue that lawyers do have moral obligations to third parties, and that in cases where patients’ rights (...) are being violated by a medical company, patients’ rights should prevail. Consequently, attorney–client confidentiality rules should be relaxed to allow for attorney disclosures in egregious cases of potential harm to third parties. (shrink)

The corporate meltdowns of this and the previous decade in the US - WorldCom, Enron, Tyco, and in Australia - FAI, HIH and AWB being among the many examples - have resulted in the governments of those two countries introducing legislation and policy guidelines aimed at minimising future corporate misbehaviour. -/- The US has introduced the Sarbanes Oxley Act, with requirements on corporate accountants and auditors, as well as its whistleblowing provisions. It has revised the Federal Sentencing (...) Guidelines for Organizations. New rules for the NYSE and NASDAQ have also been introduced. In addition, the U.S. Securities and Exchange Commission and U.S. Department of Justice have further strengthened the Foreign Corrupt Practices Act 1977, last revised in 1997. -/- Australia has revised the Corporations Act to include whistleblower protection clauses as well as adopted the ASX Corporate Governance guidelines. Standards Australia has issued its handbook on corporate governance. Although not a business issue, the Australian government has also announced that it will introduce whistleblower protection legislation for the public sector by the end of its first term in office. This legislation will likely influence whatever the private sector does in this respect. The inclusion of whistleblower protection in both Sarbanes–Oxley and the Corporations Act reflects a growing body of research that finds that people internal to an organisation are the most effective way to identify corporate wrongs. The Commonwealth Treasury has recently issued an options paper, stating that the Corporations Act has been ineffectual. It has sought submissions on revisions to the legislation that the Australian Government could take. This paper examines the policies advocated by over 20 organisations and academics concerned with whistleblowing issues. It draws the conclusion that on current indications, even after further reform, Australian legislation and policies are still likely to be less effectual than overseas practices. -/- --------------------------------- . (shrink)

Expert-informed public policy often depends on a degree of public trust in the relevant expert authorities. But if lay citizens are not themselves authorities on the relevant area of expertise, how can they make good judgements about the trustworthiness of those who claim such authority? I argue that the answer to this question depends on the kind of trust under consideration. Specifically, I maintain that a distinction between epistemic trust and recommendation trust has consequences for novices judging the (...) class='Hi'>trustworthiness of experts. I argue for this by identifying the unique difficulties that emerge when a novice is asked not just to believe expert testimony, but to follow expert recommendations. I outline criteria for novice judgements of expert trustworthiness that have been proposed by Elizabeth Anderson and show that novel problems emerge for her criteria when we shift focus from epistemic trust to recommendation trust. More is needed when we are asked not just to believe the experts but to act as they recommend, because novices looking for trustworthy expert recommendations need to establish whether the recommended course of action supports what is important to them and accords with their values. (shrink)

The Call for Papers for this conference suggests the topic, “international codes of business conduct.” This paper is intended to present a shift from a discussion of codes, or constraints to be placed upon business, to an entirely different topic: to responsibility, which yields duty, and the reciprocal concept, right. Beyond the framework of external regulation and codes of conduct, voluntary or otherwise, lies another possible accounting system: one of real corporate responsibility, which arises out of the evident capability (...) of businesses to engage in rationally self-regulated activity. If such responsibility can be shown to be comprehensible, then it could bind the activities of corporations ethically, and in rationally compelling legitimate law, just as your activities and mine are bound. Perhaps we can bind the officers of corporations as responsible persons, but I would like to introduce an undiminished conception of responsibility that will back legitimate law for the corporations themselves, as artificial persons. That is the purpose of Part 1 of this paper. In Part 2 I will turn to the case of multinational corporations in particular. I will draw conclusions regarding their general duties and rights, and will dip explicitly into ethical formulations, as well as the ground of legitimate law. I will also indicate a particular rational requirement, or duty, for politically and environmentally sustainable business practices of multinationals. In Part 3 I will discuss jurisdiction for instituting legal sanctions in multinational cases. I will argue that the national laws and civil suits that may be pursued within a court in one nation can actually stand as legitimate checks against abuses carried out by the arms of multinational corporations that reside in other nations. (shrink)

Any effort to specify identity conditions for corporations faces significant challenges. Corporations are amorphous. Nature draws no hard lines defining where they start or stop, whether in space or time. Corporations are also frustratingly dynamic. They often change the most basic aspects of their composition by exchanging parts, splitting and merging, changing ownership, and reworking fundamental internal operations. -/- Even so, we apply corporate identity conditions all the time. Both law and common intuition recognize that corporations do things—like pollute (...) environments or mislabel addictive medications—that call for judgment. Imposing judgment on corporations presupposes some implicit view of corporate identity that allows us to say, “This corporation that we now judge is the same one that misbehaved.” -/- This chapter draws on evidence from court decisions and experimental philosophy to unpack the fundamentally different visions of corporate identity implicitly encoded in law and in common intuition. The discrepancies suggest important lessons for lawmakers and corporate managers. (shrink)

How can we know whether we are punishing the same corporation that committed some past crime? Though central to corporate criminal justice, legal theorists and philosophers have yet to address the basic question of how corporate identity persists through time. Simple cases, where crime and punishment are close in time and the corporation has changed little, can mislead us into thinking an answer is always easy to come by. The issue becomes more complicated when corporate criminals undergo (...) any number of transformations—rebranding, spinning-off a division, merging, changing ownership, changing management, swapping lines of business, etc. These changes are common among all corporations, including those trying to conceal or limit liability for past crimes. This article takes a first step toward developing a workable and philosophically satisfying theory of corporate personal identity and discusses its prospects for fulfilling the retributive, rehabilitative, and deterrent purposes of criminal law. (shrink)

When people must either save a greater number of people from a smaller harm or a smaller number from a greater harm, do their choices reflect a reasonable moral outlook? We pursue this question with the help of an experiment. In our experiment, two-fifths of subjects employ a similarity heuristic. When alternatives appear dissimilar in terms of the number saved but similar in terms of the magnitude of harm prevented, this heuristic mandates saving the greater number. In our experiment, this (...) leads to choices that are inconsistent with all standard theories of justice. We argue that this demonstrates the untrustworthiness of distributive judgments in cases that elicit similarity-based choice. (shrink)

While most discussions of corruption focus on administration, institutions, the law and public policy, little attention in the debate about societal reform is paid to the “internalities” of anti-corruption efforts, specifically to character-formation and issues of personal and corporate integrity. While the word “integrity” is frequently mentioned as the goal to be achieved through institutional reforms, even in criminal prosecutions, the specifically philosophical aspects of character-formation and the development of corporate and individual virtues in a rational and systematic (...) way tend to be neglected. This paper focuses on the “internalities” of anti-corruption work with special emphasis on the pre-requisites that need to be ensured on behalf of the social elites in order for proper individual and collective character- formation to take place throughout the society. The author argues that a systematic pursuit of socially recognised virtues, both those pertaining to society as a whole and those specific to particular professions and social groups, is the most comprehensive and strategically justified way of pursuing anti-corruption policy, while institutional and penal policies can only serve an auxiliary role. The pursuit of institutional and criminal justice policies against corruption in a society that is subject to increasing relativism with regard to values and morality is at best ineffective, and at worst socially destructive. Thus the paper suggests a re-examination of the social discourse on the level of what the author calls “value strategy” and the gradual building of a plan to create and solidify specifically designed features of “corporate character” for key sectors of the society. This approach can serve as the main long-term strategy to improve the public profile of integrity and reinforce morality in both the public and civil sectors. (shrink)

In its January 20th, 2010 decision in Citizens United vs. Federal Election Commission, the United States Supreme Court ruled that certain restrictions on independent expenditures by corporations for political advocacy violate the First Amendment of the Constitution, which provides that “Congress shall make no law […] abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.” Justice Kennedy, writing for the 5-4 majority, (...) held that “[b]y suppressing the speech of manifold corporations, both for-profit and non-profit, the Government prevents their voices and view-points from reaching the public and advising voters on which person or entities are hostile to their interests” (Citizens United vs. Federal Election Commission 558 U.S. 38-9 (2010); emphasis added). Much of the language of the opinion, and some of its reasoning, as this passage illustrates, presupposes that corporations are agents capable of speech, and that it is (at least in part) in the light of this that limitations on political advocacy by corporations are prohibited by the Constitution. -/- While there are other strands in the argument, they are interwoven with the conception of the corporation as agent and speaker, with its voice and its viewpoints. The dissenters on the court objected on precisely this point (among others). Justice Stevens wrote sarcastically in his dissent, joined by Justices Ginsburg, Breyer, and Sotomayor, that “[u]nder the majority’s view, I suppose it may be a First Amendment problem that corporations are not permitted to vote, given that voting is, among other things, a form of speech” (558 U.S. 33 (2010)). Justice Sotomayor suggested in oral argument that the Court’s century-old practice of treating corporations as persons rests on a conceptual mistake. -/- My concern in this essay is not with the question whether the restrictions violate the Constitution. There are many issues that bear on this which will be outside the scope of my discussion. My concern is with the proper conceptual framework for understanding the agency of corporations and corporate speech, and the role that conceptions of these play in the background of the majority’s reasoning. The issue is legal, but it also has philosophical, conceptual and semantic aspects. It will be the latter aspects, and their potential to shed light on legal reasoning, that are my main focus. An adequate framework requires saying what properly speaking the corporation is, how agency is expressed through the corporation, whose agency it is, centrally whether the corporation is an agent or person in its own right, and in what sense it can be said to be capable of speech. I draw on recent work in collective action theory, particularly with respect to the semantics of collective action sentences (Ludwig 2007) and the analysis of the proxy agency in collective action (Ludwig 2014), to show (i) that corporations are neither genuine agents nor (therefore) capable of engaging in genuine speech, (ii) that consequently the First Amendment does not apply to corporations per se, and (iii) that a better understanding of the mechanisms of corporate agency casts doubt on more indirect arguments for extending the First Amendment to “corporate speech” as well. (shrink)

The moral issues that occur for profit corporations are a unique function of many internal and external factors, including corporate policies and purpose, business regulations, and business governance's economic and political system. Several possible theoretical frameworks prescribe behavioral norms and standards of conduct to companies, such as utilitarianism, deontological ethics, or virtue ethics. In this paper, we argue although there are signs cant similarities between Kantian Ethics and ideal corporate cultures, Kantian ethics cannot fully be integrated into contemporary (...) corporate practices. Kant's theory of morality fundamentally fails to consistently accommodate the infamous given purpose of corporations, namely the profit-maximizer. We also provide empirical insights from a case study in developing a semi-Kantian corporate code of conduct in a large technology-based company. (shrink)

Corporate bond appeared in 1992-1994 in Vietnamese capital markets. However, it is still not popular to both business sectors and academic circles. This paper explores different dimensions of Vietnamese corporate bond market using a unique and perhaps, most complete data set. State not only intervenes in the bond markets with its powerful budget and policies but also competes directly with enterprises. The dominance of state-owned enterprises and large corporations also prevents small and medium enterprises from this debt financing (...) vehicle. Whenever a convertible term is available, bondholders are more willing to accept lower fixed income payoff. But they would not likely stick to it. On the one hand, prospective bondholders could value the holdings of equity when realized favourably ex ante. On the other hand, the applicable coupon rate for such bonds could turn out negative inflation-adjusted payoff when tight monetary policy is exercised and the corresponding equity holding turns out valueless, ex post. Given the weak primary market and virtually non-existent secondary market, the corporate bond market in Vietnam reflects our perception of the relationship-based and rent-seeking behaviour in the financial markets. For the corporate bonds to really work, they critically need a higher level of liquidity to become truly tradeable financial assets. Updated entries in 2010 affirm the findings and conclusions. (shrink)

ABSTRACTIn this article, we explore the debate on corporate citizenship and the role of business in global governance. In the debate on political corporate social responsibility it is assumed that under globalization business is taking up a greater political role. Apart from economic responsibilities firms assume political responsibilities taking up traditional governmental tasks such as regulation of business and provision of public goods. We contrast this with a subsidiarity-based approach to governance, in which firms are seen as intermediate (...) actors who have political co-responsibilities in society endowed upon them by national governmental institutions. We argue that both approaches face conceptual and empirical problems, and do not make clear the content and scope of political corporate responsibility. Based on Iris Marion Young’s account of political responsibility we argue that corporate actors and governmental actors have a shared responsibility to tackle societal problems. Taking political corporate responsibility not only entails engaging in private action or engaging in public–private partnerships, but it also includes aiding governmental actors to remedy injustice or even create public institutions where they do not yet exist. By adding this perspective we contribute to the debate on responsibility in corporate citizenship and clarify the political role business can play in global governance. (shrink)

This paper seeks to determine the extent of anti-corruption information disclosure in the sustainability reports originating from Gulf countries. Focus primarily on the fight against corruption, this study utilizes a deeply-rooted content analysis technique of corporate sustainability reporting, covering 66 Gulf Cooperation Council (GCC) firms during 2014. Strengthened by the application of institutional theory, insight into the results points to a state of limited maturity regarding the disclosure of anti-corruption procedures in the region. More specifically, the results highlight the (...) compliance in the reporting of conduct code, while reporting information on whistle-blowing was significantly less in comparison. Firms in Qatar and UAE ultimately release better informed reports; inclusive of detailed information on internal anti-corruption practices. (shrink)

Because corporate social responsibility can be beneficial to both companies and its stakeholders, interest in factors that support CSR performance has grown in recent years. A thorough integration of CSR in core business processes is particularly important for achieving effective long-term CSR practices. Here, we explored the individual CSR-related competencies that support CSR implementation in a corporate context. First, a systematic literature review was performed in which relevant scientific articles were identified and analyzed. Next, 28 CSR directors and (...) managers were interviewed. The literature review complemented with interview data resulted in the following eight distinct CSR-related competencies: Anticipating CSR challenges; Understanding CSR-relevant systems and subsystems; Understanding CSR-relevant standards; CSR management competencies, including Leading CSR programs, Managing CSR programs, and Identifying and realizing CSR-related business opportunities; Realizing CSR-supportive interpersonal processes; Employing CSR-supportive personal characteristics and attitudes; Personal value-driven competencies, including Ethical normative competencies, Balancing personal ethical values and business objectives, and Realizing self-regulated CSR-related behaviors and active involvement; and Reflecting on personal CSR views and experiences. Based on these results, implications for further research on this topic, as well as implications for practitioners, are discussed. (shrink)

In this paper we raise the question whether technological artifacts can properly speaking be trusted or said to be trustworthy. First, we set out some prevalent accounts of trust and trustworthiness and explain how they compare with the engineer’s notion of reliability. We distinguish between pure rational-choice accounts of trust, which do not differ in principle from mere judgments of reliability, and what we call “motivation-attributing” accounts of trust, which attribute specific motivations to trustworthy entities. Then we consider some (...) examples of technological entities that are, at first glance, best suited to serve as the objects of trust: intelligent systems that interact with users, and complex socio-technical systems. We conclude that the motivation-attributing concept of trustworthiness cannot be straightforwardly applied to these entities. Any applicable notion of trustworthy technology would have to depart significantly from the full-blown notion of trustworthiness associated with interpersonal trust. (shrink)

In the correspondence with Arnauld, Leibniz contends that each corporeal substance has a substantial form. In support he argues that to be real a corporeal substance must be one and indivisible, a true unity. I will show how this argument precludes a tempting interpretation of corporeal substances as composite unities. Rather it mandates the interpretation that each corporeal substance is a single monad.

Ever since Freud pioneered the “talking cure,” psychologists of various stripes have explored how autobiographical narrative bears on self-understanding and psychic wellbeing. Recently, there has been a wave of philosophical speculation as to whether autobiographical narrative plays an essential or important role in the constitution of agentic selves. However, embodiment has received little attention from philosophers who defend some version of the narrative self. Catriona Mackenzie is an important exception to this pattern of neglect, and this paper explores Mackenzie’s work (...) on embodiment and self-narrative with the aim of better understanding the adequacy of autobiographical narrative as an account of the agentic self. I argue that Mackenzie’s narrative account of embodied subjectivity and agency is incomplete, for it over-estimates the reach of narrative and underestimates the cognitive and agentic powers of the lived body. (shrink)