The COVID-19 pandemic has caused a lot of challenges to the globalized world. Globally, it has decimated over six million lives. Since 2019, it has shook the world in many respects, especially, it disrupted economies and societies and halted the majority of human endeavor. Commentaries and reports from the World Health Organization (WHO) and the media showed an alarming situation that could be damning in low and middle income countries. Economic pundits and global public health experts also anticipated doom (...) and gloom for African countries. However, in terms of mortality, the Americas, Europe and Asia have suffered more losses. Irrespective of these loses in Europe, Africa’s case needs better appreciation within our contemporary historical discourse. The burgeoning challenge of the COVID disease and mortalities arising thereby, among other things, necessitated the introduction of policies based on the WHO’s historical understanding of how the world has dealt with pandemics in the past. Some of the strategies that were deployed to fight the pandemic included hand washing under running water with soap, the use of alcohol based hand sanitizers, the wearing of nose masks, social distancing, self isolation as well as partial and complete lockdowns of states and communities. The major economic disruption really came about as a result of many lockdown policies that were implemented by several countries in Africa without proper reference to their own societal contexts. These issues notwithstanding, it is important to emphasize that the extent of the impact on different communities differed to a large extent, even though there were similar levels of the nature of the infection and the general economic outlook among the global community. This current contribution on the COVID-19 discourse used political economy and economic shock as bases to highlight the extent of the impact of the disease by highlighting examples from respective countries in Africa, namely, Ghana, Cameroon, Ethiopia, Algeria and South Africa. In particular, the impact of policies like lock-down on some of these African countries are highlighted for further discussions in future empirical research. The study relied on contemporary historical evidence from multidisciplinary sources on health, economics, policy, and other related studies on epidemiology, public health, health education and promotion, reports and sources from the World Health Organization (WHO). Specifically, the authors have used published research in Lancet, the International Journal of Infectious Diseases, BMJ Global Health, Frontiers in Public Health and the Pan African Medical Journal. The others were African Development Review, Transportation Research Interdisciplinary Perspectives, Africa Spectrum and International Journal of Financial Research including several other empirical research. In attempting a social and economic interpretation based on contemporary historical sense, the findings of this present study suggest that African political actors or leaders should make persistent or steady efforts to strengthen the economies of their states to lessen economic shocks and social costs that come about as a result of pandemics such as the COVID-19. It also identified the fact that within the globalized space, application of policies from other countries including international organizations should not be devoid of context. (shrink)

The urgent need to address climate change poses a range of complex moral and practical concerns, not least because rising to the challenge will require cooperation among countries that differ greatly in their wealth, the extent of their contributions to the problem, and their vulnerability to environmental and economic shocks. This thesis by publication in the field of climate ethics aims to characterise a range of national responsibilities associated with acting on climate change (Part I), and to identify proposals (...) for fulfilling those responsibilities through fair and feasible institutional arrangements (Part II). I aim not only to address substantive gaps in scholarly understanding of those responsibilities, but also to strengthen the ability of climate ethics to engage meaningfully with climate policy. Chapter 2 addresses the question of whether wealthy countries owe a “climate debt” to poor countries. It finds that even if climate debt (suitably interpreted) may provide a coherent and morally plausible concept, its political value as a discursive frame that can provide a basis for cooperation is limited. Chapter 3 investigates the role that equity may play in negotiations on a long-term climate change agreement. It argues that developed and developing countries may reach a “principled bargain” if both converge on a way of differentiating their responsibilities that places less emphasis on a rigid dichotomy between the two groups and more emphasis on objective criteria relating to their contribution to the problem and capacity to address it. Chapter 4 explores a question largely overlooked in climate ethics, namely whether wealthy countries owe compensation to those who are adversely affected by the climate policies which they enact. I find that enacting countries have responsibilities to compensate both domestic and foreign citizens who would suffer disproportionate losses from the effects of policies. Chapter 5 assesses whether wealthy countries may legitimately adopt unilateral (or “fragmented”) rather than multilaterally coordinated approaches to raising climate finance for developing countries. It finds that coordinated target-setting, effort sharing and oversight arrangements are essential, but that a mix of unilateral and coordinated approaches to raising funds will be necessary for securing legitimacy. In Chapter 6, through addressing the broader question of what should count as official aid, I consider whether wealthy countries may draw on aid budgets to support developing countries’ efforts to address climate change. I find that the current definition of official aid should be retained but supplemented by specified exclusions from eligibility in order to preserve the aid regime’s integrity. Nevertheless, some climate finance may justifiably be counted as aid provided that concerns relating to the diversion of aid funding are addressed. In addressing these research questions, the thesis seeks not only to make original theoretical contributions to climate ethics but also to strengthen broader scholarly understanding of the ways in which ethics and international public policy may inform one another, particularly by highlighting the role of framing considerations (Chapter 2), feasibility considerations (Chapter 3), and the ways in which principles of fairness and legitimacy map onto institutional functions (Chapters 4, 5 and 6). (shrink)

As a response to the COVID-19 crisis, governments have turned to various discretionary measures such as cash transfers to consumers and businesses with mixed results. Universal Basic Income (UBI) is back on the agenda as well. One of the main advantages of UBI, as scholars like F.A. Hayek, Milton Friedman, and James M. Buchanan have argued, is that it does not depend upon competent and benevolent government discretion—which is often in short supply—but upon pre-established rules. This paper argues that the (...) UBI scheme holds tentative promise from the point of view of improving the institutional crisis preparedness of a complex socioeconomic order. The pre-established rules of UBI buttress the rule of law framework that improves the ability of economic agents to spontaneously coordinate their actions in times of crisis characterized by radical uncertainty, disequilibrium shocks, and institutional instability. Furthermore, UBI combines the distribution of fungible resources with the delegation of independent decision-making power to millions of crisis-struck individuals and communities. Compared to discretionary tax-and-transfer schemes, the rules of UBI therefore appear more compatible with the polycentric discovery of novel solutions from the bottom-up. In times of crisis, UBI may be relied upon as one cornerstone of what I shall call the permanent crisis management framework. Having such a permanent scheme may minimize - although it does not altogether eliminate - the need for discretionary transfers, targeted intervention, and technocratic management in times of crisis. However, this theoretical model of UBI as a facilitator of polycentric crisis preparedness faces several practical challenges that need to be addressed in further research. (shrink)

Collective imagination has traditionally associated architecture with political and economic power. As a result, when quoting Edward Said: «Modern Western culture is, in large part, the work of exiles, émigrés, refugees», the last people we typically consider are exiled architects. But is the heritage left by exiled architects truly insignificant? Can we find expressions of their spiritual quest, new life experiences, nostalgic feelings, and aesthetic shocks in their works? When does Modernism cease to be a universal language and instead (...) becomes an existential language of the exile – and can they both coexist? The international conference Architects in Exile. Stories of New Spatial Experiences" aims to address these questions. (shrink)

1. The most original discovery in Beauvoir’s book is one more Columbus’s egg, namely that it is far from evident that a woman is a woman. That is, she discovers that a woman is the result of a process that made so that she is like she is. The paper discusses two aspects of the so-to-say ‘ideology’ inspiring the work. The first is its ideology in the proper, Marxian sense. My claim is that the work still pays a heavy price (...) to the dominating ideology. It leaves still too much unquestionedof what was assumed at the time to be obvious, necessary, and unchanging. This ballast depends firstly on the inherited prevailing climate of opinion, corresponding to a situation of alienation, producing two distorted views of the male and female gender. On the other hand, it depends on an unquestioned legacy from the modern episteme (in Foucault’s sense of the word) carrying presupposed Cartesian dualism. The other side of the work’s ideology, that is, the positive program presented or better the utopia it formulates is less innovative than it could be, In a few passages, where she seems to make use of suggestions from Merleau-Ponty, she points at a view where the bodily and emotional dimension is rescued from its negation in the male-dominated Capitalist society. Still, these suggestions are forgotten in the bulk of the work. -/- 2. The making of a philosophical work does not depend just on the kind of philosophical influences behind it. A book is also the product of an author with a story living in one society at a given time of social history. In this case, the book was written in the afterwar time when women were pushed back home again from the wartime labor market and when several of the goals reached by the first phase of feminist movements had gone lost in several European countries under Fascist or semi-fascist regimes and were being eroded in America by the reactionary climate of McCarthyism. It was a book written by an intellectual young woman in almost total isolation. These circumstances account for some more naïve suggestions from work: for ex., the idea that the alternative to the strategy once adopted by nineteenth-century emancipationist movements should be an individual inner process of transformation confined within the boundaries of one woman’s consciousness, or also, the idea that the goal of women’s liberation should be to bring all women to a condition similar of Simone de Beauvoir herself who, as an educated woman, earning her life by her work, and living in an allegedly equal state with an enlightened man (Jean-Paul Sartre!) in a relationship free from constraints (an unmarried couple!), was already exemplifying what a liberated woman’s life would be. -/- 3. The reconstruction of the idea of femininity is still the most fruitful part of the work. It rejects the notion of femininity as an essence depending on biology or other factors and explores the making of this image as a result of a condition made of the social and economic state of affairs but as revived and actively mirrored through and by the consciousness of the very subjects suffering an oppressive situation. And the main novelty is the ‘discovery’ of asymmetry between the self-image of the male and the (self)-image of the woman, an asymmetry depending on the fact that the woman sees herself through the other’s eyes. -/- 4. Later feminist writers such as Shulamit Firestone remarked that 'The Second Sex' heavily depended on several key-ideas from Sartre existential ontology. One crucial aspect is accepting the mind-body dualistic framework without any suspicion that such dualism could have been itself a projection of the basic experience of the male-female duality. I suggest that the philosophical legacy inherited from Sartre is on occasion an asset for Beauvoir’s innovative existential analysis of the feminine ‘condition,’ but on several occasions, it creates unnecessary obstacles for her project of a new comprehension of the feminine ‘situation,’ aimed at rescuing women from an 'inauthentic' self-definition. -/- 5. The first among these poisoned gifts is Sartre’s idea of the individual as pure freedom and project. Merleau-Ponty’s criticism is well-known: Sartre draws a picture of the world as containing no more than ‘human beings and things,’ thus denying any substance to social relations, institutions, and culture. -/- 6. The second is Sartre’s reconstruction of dialectics, understood as dialectics without synthesis. This is an enlightening tool when used to describe conflicts, in so far as it accounts for the emergence of the ‘other’ as what is excluded. But it becomes a boomerang when used to interpret any kind of relationship, leading to equate inter-subjectivity with conflict. -/- 7. Suggestions coming from Merleau-Ponty’s phenomenological approach of positive value of the bodily dimension as such, and hence of the feminine body, are evoked here and there but never fully spelled out. The most shocking consequence of acceptance of the Cartesian or Sartrean dualist view is an almost total de-evaluation of sexuality, understood as an activity involving just one tiny part of the human body, going with the idea that overcoming the oppression of women implies de-empathizing biological differences that are after all tiny and devoid of value. Besides, Beauvoir falls back into the trap of grounding claims of equality between men and women on the assumption that biological differences are of limited relevance. The eventual reason for such a step back is the distorting Cartesian mirror into which Beauvoir still looks in the vain hope of discovering a disembodied self as the (Cartesian) subject of an impossible kind of liberation.The first among these poisoned gifts is Sartre’s idea of the individual as pure freedom and project. Merleau-Ponty’s criticism is well-known: Sartre draws a picture of the world as containing no more than ‘human beings and things’, thus denying any substance to social relations, institutions and culture. The second is Sartre’s reconstruction of dialectics, understood as a dialectic without a synthesis. This view of dialectics is an enlightening tool when used to describe conflicts. It may account for the emergence of the ‘other’ as what is excluded. However, it becomes a boomerang when used to interpret any relationship, leading to equate inter-subjectivity with conflict. Suggestions coming from Merleau-Ponty’s phenomenological approach would tend to admit that the bodily dimension as such has a positive value, and hence the feminine bodily dimension is not just indifferent, but instead gives women a point of view on the world different from the male point of view. These suggestions, yet, are evoked here and there but never fully spelt out. The most shocking consequence of acceptance of the Cartesian or Sartrean dualist view is an almost total de-evaluation of sexuality, understood as an activity involving just one tiny part of the human body, going with the idea that overcoming the oppression of women implies understressing biological differences that are after all tiny and devoid of value. Furthermore, Beauvoir falls back into the trap of grounding claims of equality between men and women on the assumption that physical differences are of limited relevance. The eventual reason for such step back is the distorting Cartesian mirror into which Beauvoir still looks in the vain hope of discovering a disembodied self as the (Cartesian) subject of an impossible kind of liberation. -/- . (shrink)

This article has provided a philosophical discourse approach in deconstructing Ceteris Paribus (CP) as applied in contemporary Africa. The concept of CP, which affirm the notion of ‘all things are equal’ does not always hold true in the real world. The author has gone beyond the normal interpretation of the word shock, which is making it impossible for the CP concept to hold true in reality. The paper has unraveled critical discourses spanning corruption element as a key factor in (...) the current state of Africa’s economic malaise. It is therefore incumbent on African scholars and professionals to continue their strides in promoting critical hermeneutic space, pursued through empirical endeavours or otherwise in support of developing a philosophy that is based on pragmatism for the enhancement of economic methodology, focused on the continent’s pathway of (sustained) economic development. (shrink)

Who and how revised Marxism in Poland? The simple answer is that it was done by young intellectuals seeing themselves as obligated to social and political activity, eager to participate in the process of the constitution of a new postwar Communist society. Marxism was for them a philosophical world-view and a political program rising hopes for a better socio-economic reality. Revisionists were committed Communists and their attitude toward Marxism was almost religious. Marxism, Promethean and scientific at the same time, (...) was supposed to replace religion, for which the radically secular revisionists saw no place in the new society. (See: Mikołajczyk 2013, p. 44-48) After the shock of 1956 they stuck by the slogan: ’socialism–yes, distortions–no,’ they thought that “Marxist socialism was possible without Leninist political forms, that Communism might be attacked within «the framework of Marxism»,” and they “believed for some time ... that Stalinism was curable in the sense that Communism could be restored or «democratized» without questioning its foundations” (Kolakowski 1978, p. 461). They saw themselves in an elitist way, i.e., as true and devoted Marxists fighting with dogmas, orthodoxy, myths, and unfounded faith both within Marxism-Leninism and outside it. They were willing to accept the position of sectarians, heretics, or apostates. Their political and ideological involvement forced them to attack pre-war but still active Polish philosophers of the Lvov-Warsaw School and other nonMarxist thinkers (Roman Ingarden, Władysław Tatarkiewicz, Stanisław Ossowski), who were classified as “bourgeois thinkers” unable to understand and assimilate Marxism. (shrink)

Over the past decades, the idea that national sovereignty and the authority of the state have been increasingly challenged or even substantially eroded has been a dominant one. Economic globalization advancing a neo-liberal dis-embedding of the economy is seen as the major reason for this erosion. Concerns have increased about the negative consequences for the social fabric of societies, deprived of the strong shock absorption capacity that the welfare states had established in the time of the embedded liberalism (...) to use a term John Ruggie coined. The concerns have also helped nationalistic movements to gain power in many high-income countries, not at least in the United States, calling for putting their economy first. Accordingly, a number of commentators have announced a return of the nation state. In this special issue, we will show that the retreat-of-the-state thesis as well as the return-of-the-state thesis shares the same shortcomings. They conflate state and authority. As a consequence, both theses underestimate important transformations of authority that have taken place since the end of the “short 20TH century,” to use Eric Hobsbawm's periodization. With this special issue, we seek to contribute to a more nuanced analysis of the transformation of authority. The issue is the outcome of a conference that took place at the Copenhagen Business School in 2015, hosted by the research project ‘Institutional Transformation in European Political Economy: A Socio-Legal Approach’ and funded by the European Research Council. (shrink)

This dissertation compares the notions of homo rationalis in Philosophy and homo oeconomicus in Economics. Particularly, in Part I, we claim that both notions are close methodological substitutes. Accordingly, we show that the constraints involved in the notion of economic rationality apply to the philosophical notion of rationality. On these premises, we explore the links between the notions of Kantian and Humean rationality in Philosophy and the constructivist and ecological approaches to rationality in economics, respectively. Particularly, we show that (...) the constraints involved in both approaches to rationality in economics apply to the notions of Kantian and Humean rationality. That is why we introduce the notion of minimal global rationality. In a nutshell, the latter links one’s rationality to one’s ability to make good use of their cognitive apparatus to process contextual variables. On this basis, in Part II, we present two empirical tests showing that minimal global rationality is at work in philosophical experiments because systematic manipulations of contextual variables predictably affect philosophical judgment in the Trolley Problem and in some Knobe-like vignettes. In the first case, the manipulation of the information provided to subjects predictably causes inconsistent judgments. More precisely, subjects’ response to information shocks predictably causes them to issue inconsistent judgments. Instead, in the second case, our experimental results reveal that the Knobe Effect activates only if the perpetrator of an action is likely to be perceived as evil and unfriendly. Besides, when the Knobe-like vignettes include probabilistic outcomes, the Knobe Effect does not activate or is reduced in magnitude. For these reasons, we maintain that the availability heuristic bias arguably affects one’s judgment in Knobe-like experiment settings. Eventually, in Part III, we survey the general implications of the findings presented in Part II. First and foremost, we show that when manned social media algorithms produce wide-ranging availability cascades, agents predictably respond to those cascades by herding around biased claims. Interestingly, we find that the exposure to similarly redundant online content makes new social groups emerge unhindered. That is why populists and conspiracy theorists obtain such a large follow-up online. Secondly, we find that manned social media algorithms can exploit the flaws of minimal global rationality at a faster pace than humans. Yet, given that latter algorithms cannot do so on their own, we argue that the Turing Test is still an open game. Specifically, we argue so because state-of-the-art technology can request a service to be supplied (e.g., Google Duplex) but cannot operate direct sales. This constraint of state-of-the-art technology is linked to its inability to exploit the flaws of global minimal rationality as well as humans can. Importantly, we show that if algorithms were able to do so, the involved sociopolitical risk would be high. Therefore, we argue that only some form of regulation over state-of-the-art technology can prevent and reduce such sociopolitical risks. -/- In case you want a copy of this dissertation, please email me. (shrink)

The importance, and urgency, of a Roboethics lay in the lesson of our recent history. Two of the front rank fields of science and technology, Nuclear Physics and Genetic Engineering, have already been forced to face the ethical consequences of their research’s applications under the pressure of dramatic and troubling events. In many countries, public opinion, shocked by some of these effects, urged to either halt the whole applications, or to seriously control them. Robotics is rapidly becoming one of the (...) leading field of science and technology, so that we can forecast that in the XXI century humanity will coexist with the first alien intelligence we have ever come in contact with - robots. It will be an event rich in ethical, social and economic problems. Public opinion is already asking questions such as: “Could a robot do "good" and "evil”? “Could robots be dangerous for humankind?”. (shrink)

Over the past decades, the idea that national sovereignty and the authority of the state have been increasingly challenged or even substantially eroded has been a dominant one. Economic globalization advancing a neo-liberal dis-embedding of the economy is seen as the major reason for this erosion. Concerns have increased about the negative consequences for the social fabric of societies, deprived of the strong shock absorption capacity that the welfare states had established in the time of the embedded liberalism (...) to use a term John Ruggie coined. The concerns have also helped nationalistic movements to gain power in many high-income countries, not at least in the United States, calling for putting their economy first. Accordingly, a number of commentators have announced a return of the nation state. In this special issue, we will show that the retreat-of-the-state thesis as well as the return-of-the-state thesis shares the same shortcomings. They conflate state and authority. As a consequence, both theses underestimate important transformations of authority that have taken place since the end of the “short 20TH century,” to use Eric Hobsbawm's periodization. With this special issue, we seek to contribute to a more nuanced analysis of the transformation of authority. The issue is the outcome of a conference that took place at the Copenhagen Business School in 2015, hosted by the research project ‘Institutional Transformation in European Political Economy: A Socio-Legal Approach’ and funded by the European Research Council. (shrink)

This work aims to understand the affective dimension that permeates human relationships and the variation that characterizes their forms. The concepts presented here aim to situate man in relation to these two poles of his existence, servitude and freedom, which are urgent for us to reflect on the subject of ethics today. Considering instability as a constitutive mark of the affective field through which man relates, we will resort to concepts which will support and illustrate the idea which we intend (...) to present, namely the economic nature of the bodily forces which motivate and intervene in such relations which pass, as they are established, to a configuration of power. From the philosophical concepts of affection, servitude and freedom, according to Spinoza, it is possible to understand the existential and ethical dimension that runs through human life. The Freudian concepts of herd instinct, identification and love can be understood as affections belonging to the soul of the herd which, in its psychic process, leads man to his state of servitude. From these foundations, one can think about human freedom and how man can, through sublimatory processes, become the cause of himself, and thus show new possibilities, outlets that man has under his own power to make his life more joyful and, in this way, not to live at the mercy of external causes that result in shocks, condemning him to the bondage of his own passions. This research brings these questions to reflection to show how the traditional way of thinking directly impacts man in his way of relating, freely or not, to the world and, finally, how another perspective of understanding this which constitutes its nature allows a new posture in the face of desire itself. -/- . (shrink)

Recent scholarship on climate and conflict has increasingly examined the dynamic relationship between environmental scarcities and geopolitical tensions. Overall, climate-related shocks often lead to escalated disputes over natural resources, thus positioning climate hazards not only as an environmental issue but also as a catalyst that intensifies existing geopolitical and social frictions. The discourse on climate and conflict has mostly centred on its direct effects on natural resources and environmental conditions. However, its role in precipitating conflicts underscores the critical need to (...) incorporate climate considerations within broader security and policy frameworks. In recent decades, one of the most compelling developments in this field is the inclusion of environmental issues within the security paradigm. Environmental degradation, global warming, and climate change are now recognized as critical threats that transcend national borders, impacting personal, national, and international security . These factors have broadened our comprehension of the relationships among environmental transformation, conflict, and vulnerability, and have highlighted the importance of conservation and sustainable development in fostering peace, stability, and human security. Despite the increased attention on climate in conflict and security studies, the mechanisms through which an environmental catastrophe, or the threat of it, gets securitized in conflict remain under investigated. Understanding how these threats are framed and leveraged by conflicting parties can provide critical insights into the intersection of environmental risks and geopolitical strategies, thereby enriching the discourse on environmental security and conflict dynamics. Most case studies focus on the securitization of natural resources, such as water in the Nile and Indus basins, concentrating on resource scarcity rather than potential catastrophes. Additionally, research on the Israeli-Palestinian conflict and domestic politics in the United Kingdom and the Netherlands shows how framing environmental threats as national security issues can influence power dynamics and foster global action. However, these cases suggest that previous research has predominantly investigated how states strategically employ environmental narratives within the framework of national security for political and economic advantages, often in contexts removed from direct conflict scenarios. Moreover, much of the discussion on environmental securitization has focused on state-centric perspectives and inter-state conflicts. This emphasis on state actions, both in domestic and international arenas, has left a significant gap concerning the weaponization of environmental threats by non-state actors within ongoing conflicts. In that sense, the contribution of my thesis is twofold. First, it analyzes the weaponization of a looming environmental catastrophe within a conflict setting. Second, it focuses on a case where non-state actors, specifically the Houthis, are primary securitization actors. More specifically, my thesis addresses the existing gap in the literature by analysing the case of the FSO Safer, a deteriorating oil storage tanker moored off the coast of Yemen. Before the United Nations’ successful offloading plan, the tanker held over one million barrels of crude oil, posing a significant risk of massive ecological and economic damage due to its poor condition and lack of maintenance since the onset of the Yemeni conflict. Despite the imminent threat of an ecological disaster, the conflicting parties in Yemen – the Houthis and the internationally recognized government – have used the Safer as a bargaining chip rather than prioritizing immediate remedial action. This has put the entire region in a state of suspense, with the potential for disastrous oil leakage that could impact the Red Sea's marine ecosystems and the broader geopolitical stability. The FSO Safer crisis has directly inspired the research question of this study, highlighting the need to understand the strategic use of environmental threats in geopolitical conflicts. This crisis vividly illustrates how impending ecological disasters are not solely managed as environmental or humanitarian issues but are intricately woven into the fabric of international security and conflict negotiation strategies. It prompts critical inquiries into how and why such existential threats are leveraged by involved parties to advance their geopolitical agendas. Therefore, the research question formulated for this study is: How are environmental threats utilized as strategic tools in geopolitical conflicts? (shrink)

The subprime mortgage crisis in the United States (U.S.) in mid-2008 suggests that stock prices volatility do spillover from one market to another after international stock markets downturn. The purpose of this paper is to examine the magnitude of return and volatility spillovers from developed markets (the U.S. and Japan) to eight emerging equity markets (India, China, Indonesia, Korea, Malaysia, the Philippines, Taiwan, Thailand) and Vietnam. Employing a mean and volatility spillover model that deals with the U.S. and Japan shocks (...) and day effects as exogenous variables in ARMA(1,1), GARCH(1,1) for Asian emerging markets, the study finds some interesting findings. Firstly, the day effect is present on six out of nine studied markets, except for the Indian, Taiwanese and Philippine. Secondly, the results of return spillover confirm significant spillover effects across the markets with different magnitudes. Specifically, the U.S. exerts a stronger influence on the Malaysian, Philippine and Vietnamese market compared with Japan. In contrast, Japan has a higher spillover effect on the Chinese, Indian, Korea, and Thailand than the U.S. For the Indonesian market, the return effect is equal. Finally, there is no evidence of a volatility effect of the U.S. and Japanese markets on the Asian emerging markets in this study. (shrink)

In economics, economic value is a measure of the benefit provided by a good or service to an economic agent, and value for money represents an assessment of whether financial or other resources are being used effectively in order to secure such benefit.

"Is research in social sciences in Vietnam lagging behind?" is the big question that Prof. Vuong Quan Hoang from NVSSH, a network of researchers in social sciences and humanities under Phenikka University, and his co-workers conducted a survey to find why this had occurred.

This paper defends an account of moral shock as an emotional response to intensely bewildering events that are also of moral significance. This theory stands in contrast to the common view that shock is a form of intense surprise. On the standard model of surprise, surprise is an emotional response to events that violated one's expectations. But I show that we can be morally shocked by events that confirm our expectations. What makes an event shocking is not that (...) it violated one's expectations, but that the content of the event is intensely bewildering. What causes moral shock is, I argue, our lack of emotional preparedness for the event. And I show that, despite the relative lack of attention to shock in the philosophical literature, the emotion is significant to moral, social, and political life. (shrink)

To become more useful and efficient in sustaining the Earth's health, economics must undergo a paradigm shift in its thinking. From a humanistic perspective, humans should be the center of everything. However, from the standpoint of physics and the universe, this is not the case. As a species, having a planet among the millions in the universe where humans can survive and thrive is already a great fortune. Through this book, we also try to answer one of our long-standing questions: (...) why has economics learned so little from physics, the oldest and most rigorous academic discipline that studies nature? -/- Learning from the quantum and information theories, we also provide a new definition of value, which is expected to help economists relax assumptions and loosen established economic principles in order to change and evolve. The new definition is also expected to enable social scientists to address newly arising phenomena or events that are not accounted for by existing value systems, such as environmental crises, artificial intelligence (AI), and interdisciplinary information, more proactively and productively. (shrink)

There are two aims of this paper: (1) to explore the affective dimensions of moral shock and how it relates to normative marginalization of those furthest from dominant society, but also, more specifically; (2) to articulate the trans experience of constantly being under moral attack because the dominant “world” normatively defines you out of existence. Toward these ends, I build on Katie Stockdale’s recent work on moral shock, arguing that moral shock needs to be contextualized to “worlds” (...) of sense to understand how marginalized people affectively experience shocking events. My focus is the trans experience of moral shock due to the way trans people are positioned outside of dominant society, creating the conditions to experience cyclical, chronic shock. These affective conditions point to a collective responsibility to ease the affective stress that the most marginalized experience. (shrink)

I propose that shock can be morally significant independently of its consequences but only as part of an ongoing commitment to certain norms, in particular norms that constitute recognizing another as a person. When we witness others in agony, or being severely wronged, or when we ourselves severely wrong or mistreat others, our shock can reflect our recognition of them as persons, a recognition constituted by our commitment to certain moral norms. However, if we do not in fact (...) respond to the suffering or wrong in accordance with these norms—if, for example, we do not act to relieve their suffering or to properly address the wrong done, and do not avoid or prevent its recurrence—then our commitment to the relevant norms is undermined. When we consistently violate the norms whose violation initially shocked us, our lingering shock upon repeated violations gradually loses its significance and becomes a mere impulse—a fossil of a past commitment, so to speak—before it disappears completely. The failure to be shocked in such instances marks the failure of our moral commitments, which is the failure to recognize others as persons. (shrink)

Analytic philosophy and phenomenology represent two major movements in the study of the mind. Both developed in the twentieth century, having roots that go back well before. Even though the two schools of thought have been in dialogue in the past, they are currently at an impasse. In this paper, I examine the origin of this impasse and suggest that at a crucial point in the conversation, right when the issues were clearly articulated and there was broad agreement on the (...) key questions, analytic philosophy abruptly changed the subject. Early analytic philosophers, like Carnap and Schlick, sought to establish a sharp distinction between the objective content of one’s claims and beliefs and what is merely subjective or perspectival. Phenomenologists denied this distinction. When efforts to defend the distinction failed, analytic philosophy took the distinction to be obvious and in no need of defense. I call this a shocking non sequitur. (shrink)

This paper examines the lack of philosophical/moral clarity at the root of speciesism. Focusing on the many reasons animal rights deserves a closer look, it investigates such issues as animal experimentation, human diet, and what should be the foundation of our moral reasoning when dealing with human and nonhuman animal relationships.

We present bibliometric evidence for increasing estrangement between the philosophy of economics and economics itself. Our analysis centers on research articles published in the Journal of Economic Methodology (JEM) between 1994 and 2021. We analyze the citations within these research articles, in particular with respect to the citations of economics. Our results are fourfold. (1) The share of economic citations in JEM articles has been decreasing. (2) The remaining economic citations in JEM articles are increasingly older relative (...) to citation patterns within economics. (3) The profile of economic citations in JEM articles is increasingly dissimilar when compared to what is cited within economics. (4) There is decreasing diversity with regards to the share of attention towards different economic subfields in the articles published in JEM when compared to economics. We discuss interpretations of this evidence for estrangement between philosophy of economics and economics. (shrink)

Real-world economies are open-ended dynamic systems consisting of heterogeneous interacting participants. Human participants are decision-makers who strategically take into account the past actions and potential future actions of other participants. All participants are forced to be locally constructive, meaning their actions at any given time must be based on their local states; and participant actions at any given time affect future local states. Taken together, these essential properties imply real-world economies are locally-constructive sequential games. This paper discusses a modeling approach, (...) Agent-based Computational Economics, that permits researchers to study economic systems from this point of view. ACE modeling principles and objectives are first concisely presented and explained. The remainder of the paper then highlights challenging issues and edgier explorations that ACE researchers are currently pursuing. (shrink)

Economic sanctions are envisaged as a sort of punishment, based on what should be an institutional decision not unlike a court ruling. Hence, the conditions for their lifting should be clearly stated and once those are met sanctions should be lifted. But this is generally not what happens, and perhaps is precluded by the very nature of international sanctioning. Sanctions clearly have political, economic, military and strategic consequences, but the question raised here is whether sanctions can also have (...) moral justification. Illustrated by the example of international sanctions against Yugoslavia, the authors show how the process of escalating demands on a target country, inherent to the very process of sanctioning, can lead ultimately even to overt aggression. As a result of this logic of escalation, economic sanctions cannot be articulated properly in any law-like system. Economic sanctions have much more in common with war than legal punishment, and in fact represent a form of siege. As such, they cannot be ended simply on the basis of their initial rationale, for the very process of sanctions implementation opens up possibilities for setting new goals and a continuous redefinition of the goal that sanctions are seen to have. (shrink)

Although neoclassical economics faces frequent criticism, it remains the dominant paradigm, largely due to its immunisation strategies that rely on unfalsifiable concepts of utility and rationality. In this paper, I use Karl Popper’s philosophy to assess whether these strategies are justified. Firstly, I reconstruct Popper’s ideas on immunisation strategies, situational analysis, the rationality principle, and the metaphysical research programme. Next, I examine how neoclassical economics’ immunisation strategies counter critiques from behavioural economics. I conclude that neoclassical economics’ method does not produce (...) empirical conjectures. I assess and evaluate this finding in relation to the “rationality principle”, as it parallels neoclassical economics’ optimisation axiom. Furthermore, I explore Popper’s relevance in the context of neoclassical economics’ recent incorporation of behavioural economics’ insights to show that my analysis is not purely historical. (shrink)

In this essay I discuss a powerful challenge to high-liberalism: the challenge presented by neoclassical liberals that the high-liberal assumptions and values imply that the full range of economic liberties are basic rights. If the claim is true, then the high-liberal road from ideals of democracy and democratic citizenship to left-liberal institutions is blocked. Indeed, in that case the high-liberal is committed to an institutional scheme more along the lines of laissez-faire capitalism than property-owning democracy. To present and discuss (...) this challenge, I let John Rawls represent the high-liberal argument that only a narrow range of economic liberties are basic rights and John Tomasi represent the neoclassical liberal argument that the full range of economic liberties are basic rights. I show that Rawls’s argument is inadequate, but also that Tomasi’s argument fails. I thus conclude that high-liberalism is in a precarious situation, but is not yet undone by the neoclassical liberal challenge. (shrink)

This paper rigorously examines the primitive foundations of economic reasoning through an original framework based on symbolic logic. Extending previous work, it formalizes economic conceptions (\(\mathbb{C}\)), symbols (\(s_i\)), and introduces a structured language (\(\mathcal{L_{\mathbb{C}}}\)) to define their formation and interpretation. Organized as a continuous chain of declarations and illustrations, the paper offers a concise, systematic approach to understanding the philosophy of economic reasoning through formal representations.

Despite extensive evidence for its effectiveness, ECT remains the subject of fierce opposition from those contesting its benefits and claiming extreme harms. Alongside some reflections on my experiences of this treatment, I examine the case against ECT, and find that it appears to rest primarily on unsubstantiated claims about major ethical violations, rather than clinical factors such as effectiveness and risk.

The interdisciplinary economics book “Better Economics for the Earth: A Lesson from Quantum and Information Theories” by Prof. Quan-Hoang Vuong and Dr. Minh-Hoang Nguyen introduces a new concept of “growth” and “eco-surplus culture,” aiming toward an economic system that “heals” the Earth.

The results revealed that students who remained in China experienced challenges which included anxiety, closure of campuses, lockdown, their parents’ concern regarding health issues, and not being able to meet with friends. On the other hand, students who had left China during the pandemic were confined to their home countries. This group of students experienced more severe problems than the students who remained in China. Since the transition to home countries was “unplanned,” they were not ready to readjust to their (...) native culture and were vulnerable to severe reverse culture shock. Upon returning to their home countries, international students faced a number of challenges, including readjustment to their home countries and changes in their lives in host and home countries. In addition, they lost social and academic resources, such as the disruption of study environment, losing important group memberships, financial constraints, visa expiry, graduation delay, and academic suspension. (shrink)

The beliefs of economists are not solely determined by empirical evidence in direct relation to the theories and models they hold. Economists hold 'ontological presuppositions', fundamental ideas about the nature of being which direct their thinking about economic behaviour. In this volume, leading philosophers and economists examine these hidden presuppositions, searching for a 'world view' of economics. What properties are attributed to human individuals in economic theories, and which are excluded? Does economic man exist? Do markets have (...) an essence? Do macroeconomic aggregates exist? Is the economy a mechanism, the functioning of which is governed by a limited set of distinct causes? What are the methodological implications of different ontological starting points? This collection, which establishes economic ontology as a coordinated field of study, will be of great value to economists and philosophers of social sciences. (shrink)

The theme of this issue of the St. Gallen Business Review is "Harmony". For this reason, we would like to discuss whether two aspects of our life- world are in harmony, namely economic optimization and morality. What is the relation between them? According to a widely shared view, which is one aspect of the doctrine of "mainstream economics", the functioning of an economic system does not require moral behaviour on the part of the individual economic agent. In (...) what follows, we will try to convince you that this is false. If all economic agents – managers, employees, bankers, consumers and so on – were purely self-interested, as mainstream economics assumes, our economic practice would fail. There are various reasons for this. Here we will focus on one of them, namely the pivotal role of interpersonal communication. (shrink)

This paper addresses the project of philosophical autobiography, using two different perspectives. On the one hand, the societal, economic, and family contexts of William James are addressed, and connected a modern academic context of business ethics research, marketing and purchasing decision making, and the continuing financial crisis. The concepts of “stream of consciousness” and “acting as-if” are connected to recent literature on William James. On the other hand, the significance of family context, and the possible connection between the William (...) James family and the author, is addressed through shared family narratives interspersed throughout the paper. (shrink)

“Better Economics for the Earth: A Lesson from Quantum and Information Theories” by Quan-Hoang Vuong and Minh-Hoang Nguyen is an eye-opener to many aspects of my life and existence.

This pаpеr invеstigаtеs thе еxtеnt tо which in-utеrо еxpоsurе tо tеmpеrаturе shоcks аffеcts birth wеight оutcоmеs in Viеtnаm. Еxplоiting thе vаriаtiоns аcrоss districts аnd cоncеptiоn timing within districts, wе shоw thаt а оnе stаndаrd dеviаtiоn incrеаsе in tеmpеrаturе rеlаtivе tо thе lоcаl nоrm (аpprоximаtеly 0.52 dеgrее Cеlsius) during thе first trimеstеr оf prеgnаncy rеducеs thе child’s wеight аt birth by 67 grаms оr 2.2%. Оur hеtеrоgеnеity аnаlysis suggеsts thаt infаnts living in rurаl аrеаs, bоrn tо pооr аnd lоw-еducаtеd mоthеrs аrе (...) еspеciаlly vulnеrаblе tо tеmpеrаturе shоcks. (shrink)

According to what I call the ‘argument from public bads’, if a researcher deceived subjects in the past, there is a chance that subjects will discount the information that a subsequent researcher provides, thus compromising the validity of the subsequent researcher’s experiment. While this argument is taken to justify an existing informal ban on explicit deception in experimental economics, it can also apply to implicit deception, yet implicit deception is not banned and is sometimes used in experimental economics. Thus, experimental (...) economists are being inconsistent when they appeal to the argument from public bads to justify banning explicit deception but not implicit deception. (shrink)

Austrian economics starts out from the thesis that the objects of economic science differ from those of the natural sciences because of the centrality of the economic agent. This allows a certain a priori or essentialistic aspect to economic science of a sort which parallels the a priori dimension of psychology defended by Brentano and his student Edmund Husserl. We outline these parallels, and show how the theory of a priori dependence relations outlined in Husserl’s Logical Investigations (...) can throw light on the Austrian account of entrepreneurship. (shrink)

Economic theories of democratic legitimacy (discussed here as minimalist theories) have criticized deliberative accounts of democratic legitimacy on the grounds that they do not represent a practical possibility and that they create conditions that make actual democracies worse. It is not simply that they represent the wrong ideal. Rather, they are too idealistic – failing to show proper regard for the cognitive and moral limitations of persons and the depth of disagreement in democratic society. This article aims to show (...) (1) that the minimalist criterion of democratic legitimacy is self-defeating and (2) that even if there are minimal cognitive, moral, and social requirements for the possibility of practicable deliberative democracy, these limitations do not necessarily impose insuperable barriers for democratic deliberation as the normative basis of democratic legitimacy. Thus, the limiting facts do not dictate the structure of appropriate normative models of democracy in the way minimalists have supposed. (shrink)

In this paper, I compare the methodology of the Austrian school to two alternative methodologies from the economic mainstream: the ‘orthodox’ and revealed preference methodologies. I argue that Austrian school theorists should stop describing themselves as ‘extreme apriorists’ (or writing suggestively to that effect), and should start giving greater acknowledgement to the importance of empirical work within their research program. The motivation for this dialectical shift is threefold: the approach is more faithful to their actual practices, it better illustrates (...) the underlying similarities between the mainstream and Austrian research paradigms, and it provides a philosophical foundation that is much more plausible in itself. (shrink)

What are economic exchanges? The received view has it that exchanges are mutual transfers of goods motivated by inverse valuations thereof. As a corollary, the standard approach treats exchanges of services as a subspecies of exchanges of goods. We raise two objections against this standard approach. First, it is incomplete, as it fails to take into account, among other things, the offers and acceptances that lie at the core of even the simplest cases of exchanges. Second, it ultimately fails (...) to generalize to exchanges of services, in which neither inverse preferences nor mutual transfers hold true. We propose an alternative definition of exchanges, which treats exchanges of goods as a special case of exchanges of services and which builds in offers and acceptances. According to this theory: (i) The valuations motivating exchanges are propositional and convergent rather than objectual and inverse; (ii) All exchanges of goods involve exchanges of services/actions, but not the reverse; (iii) Offers and acceptances, together with the contractual obligations and claims they bring about, lie at the heart of all cases of exchange. (shrink)

When it comes to the discussions of ancient economic thought, the Stoics rarely come to the forefront. By and large, the lack of focus on this Hellenistic philosophical school is understandable: there is no evidence of the Stoics writing treatises entitled oikonomikos or similar or, in fact, showing any substantial interest in the matters pertaining to wealth management or money acquisition. There is an extant fragment, however, depicting a debate between Diogenes of Babylon and Antipater of Tarsus in which (...) the latter advocates for the moral permissibility of the behaviour that comes very close to exhibiting economic rationality. In this paper, I analyse this passage and, noting its complex transmission history, I argue that it reveals an engagement with various ideas pertaining to the oikonomia genre. Although some of them resemble the contemporary notion of economic rationality, ultimately, the Stoic argument is embedded in ethical debates with the Peripatetics and it concerns moral value rather than the homo economicus style of reasoning about maximizing gains. (shrink)

It can hardly be denied that each field of knowledge has its own subject-matter and aims, scope and limits, specific method and distinctive characteristics. Every science has its own historical background and dynamics which explain its emergence and raison d'etre, as well as influence its development over time, expanding and contracting as it were in response to the prevailing Zeitgeist and alongside societal, legal, and political changes. Consequently, each discipline inevitably reflects the realities, beliefs, needs, tendencies, and interests of the (...) individuals (or groups) who undertake its study and instruction, or try to apply and develop it further. In other words, each field of knowledge is mirroring a certain Weltansicht, or worldview‒that is, a comprehensive framework through which individuals or cultures interpret and understand the world around them. In scientific enterprise, worldviews not only provide a broader context for interpreting data, but also influence their research directions, methodological preferences, and final conclusions. Economics is no exception to this phenomenon. This modest essay aims to open up the epistemological foundations of modern economics to closer scrutiny with a view to pinpointing some tacit assumptions, cultural or other biases, and preconceived notions operating beneath the surface of economic models, theories, and methodologies. (shrink)

Effective stakeholder engagement and inclusive governance are essential for effective and equitable ocean management. However, few cross-national studies have been conducted to examine how stakeholders’ economic and cultural benefit perceptions influence their support level for policies focused on ocean preservation. The current study aims to fill this gap by employing the Bayesian Mindsponge Framework (BMF) analytics on a dataset of 709 stakeholders from 42 countries, a part of the MaCoBioS project funded by the European Commission H2020. We found that (...) economic and cultural benefit perceptions are generally negatively associated with the policy support level. Regarding economic aspects, stakeholders considering transportation and shipping, renewable energy generation, and oil and gas provision as the most crucial benefits their countries’ oceans provide tend to obtain less support for policies focusing on ocean preservation. Meanwhile, for cultural aspects, perceiving recreation and tourism, aesthetic pleasure, mental health and well-being support, and sense of identity provision as the most important benefits provided by the country’s ocean are negatively associated with the policy support level. The perceived economic, cultural, and environmental tradeoffs when supporting policies focused on ocean preservation were discussed. Recommendations for improving the effective management of multi-use marine space are also provided to reduce the perceived competing interests among stakeholders. (shrink)

Coastal protection is crucial to human development since the ocean has many values associated with the economy, ecosystem, and culture. However, most ocean protecting efforts are currently ineffective due to the burdens of finance, lack of appropriate management, and international cooperation regimes. For aiding bottom-up initiatives for ocean protection support, this study employed the Mindsponge Theory to examine how the public’s perceived economic and cultural values influence their willingness to support actions to protect the ocean. Analyzing the European-Union-Horizon-2020-funded dataset (...) of 709 respondents from 42 countries, we discovered that perceived economic values have negative effects on the tendency of ocean protection supports (i.e., food, transportation, renewable energy, oil and gas, and recreation). In contrast, certain perceived cultural values can help increase the willingness to do so (i.e., mental well-being and sense of identity). However, the effects of perceived cultural values are only moderately reliable. These findings suggest that designing cultural information delivery campaigns can help promote coastal reserve supports, such as fundraisings and preserving the oceans from the community. (shrink)

Exploitation and Economic Justice in the Liberal Capitalist State offers the first new, liberal theory of economic justice to appear in more than 30 years. The theory presented is designed to offer an alternative to the most popular liberal egalitarian theories of today and aims to be acceptable to both right and left libertarians too.

The economic point of view in American Independence is explained.

This article was championed in view of the notion of (perceived) economic rationalisation which seem to be the foremost of patients' care in the NHS as opposed to addressing distress to their existing well-being, while in a state of being tormented with agonising news of prolonged ill health. Serious consideration is given to addressing the need to rationalise resources in ensuring the long standing history of the NHS' free health care is critically addressed, but not in a way that (...) destroys confidence on the ability of professionals to manifest ethical prudence in their acts of judgments about whether patients' care is to be imminent or prolonged on a waiting list. There is certainly serious impacts to be comprehended with in situations of economic rationality through services provided by the NHS, but it is believed that tangible outcomes about definitive care for patients should be addressed collaboratively. (shrink)

It is sometimes claimed that forgiveness involves the cancellation of a moral debt. This way of speaking about forgiveness exploits an analogy between moral forgiveness and economic debt-cancellation. Call the view that moral forgiveness is like economic debt-cancellation the Economic Model of Forgiveness. In this article I articulate and motivate the model, defend it against some recent objections, and pose a new puzzle for this way of thinking about forgiveness.

This research paper attempts to get pragmatic way to deal with few questions like, 'Will Indian Economic thoughts be able to give directions to crises-ridden global economic system?', 'Can India show solutions to the World's Present Socio-economical crises?'' and What are the Alternatives available before mankind to avoid economic crises?' The concept of economic exploitation or “exploitation” which has been the focal point of solemn philosophical debate is one of the favorite nouns in the glossary of (...) critics of the free market economy. The strongest version of the claim that the free market necessarily involves exploitation is that of Karl Marx. The aim of this research paper is to bring to the notice of economist, policy makers, research scholars, professors and students of economics as well as of philosophy and layman, that what kind of solution, a Philosopher from India, like Prof. Surendra S. Barlingay has to offer to the discipline of economics at large. (shrink)