David Hull accounts for the success of science in terms of an invisible hand mechanism, arguing that it is difficult to reconcile scientists' self-interestedness or their desire for recognition with traditional philosophical explanations for the success of science. I argue that we have less reason to invoke an invisible hand mechanism to explain the success of science than Hull implies, and that many of the practices and institutions constitutive of science are intentionally designed by scientists with (...) an eye to realizing the very goals that Hull believes need to be explained by reference to an invisible hand mechanism. Thus, I reduce the scope of Hull's invisible hand explanation and supplement it by appealing to a hidden hand explanation. (shrink)

The unintendedness of the phenomenon that is to be explained is a constraint visible in the various applications and clarifications of invisible-hand explanations. The article casts doubt on such a requirement and proposes a revised account. To have a role in an invisible-hand process, it is argued, agents may very well act with a view to contributing to the occurrence of the social outcome that is to be explained, provided they see what they do as an (...) aggregation of their individual actions rather than as something they jointly perform. (shrink)

Critical theory has long resisted the notion that an “invisible hand” can operate within the real social dynamics of a free market. But despite the most radical desires of the socially critical imagination, the optimization of that “spontaneous order” or depersonalized way of ordering things known as “the economy” has become the dominant playing field and decisive electoral issue of modern politics. Within this broad contemporary context, Michel Foucault made a strange theoretical intervention that, to this day, continues (...) to baffle readers. During a lecture, he argued that Adam Smith’s invisible hand was, after all, truly and purposively, that is, for technical rather than ideological reasons, “invisible.” This article argues that there is a counter-positivism or tactical irony contained within the logic of such a controversial thesis; namely, that when one acknowledges that the principle of economic competition encourages an efficient self-organizing effect at all times, regardless of context, one is also immediately in a position to appreciate why the art of government should always maintain its political primacy over the spontaneous order of the market. (shrink)

When Adam Smith published his celebrated writings on economics and moral philosophy he famously referred to the operation of an invisible hand. Adam Smith's Political Philosophy makes visible the invisible hand by examining its significance in Smith's political philosophy and relating it to similar concepts used by other philosophers, revealing a distinctive approach to social theory that stresses the significance of the unintended consequences of human action. This book introduces greater conceptual clarity to the discussion of (...) the invisible hand and the related concept of unintended order in the work of Smith and in political theory more generally. By examining the application of spontaneous order ideas in the work of Smith, Hume, Hayek and Popper, Adam Smith's Political Philosophy traces similarities in approach and from these builds a conceptual, composite model of an invisible hand argument. While setting out a clear model of the idea of spontaneous order the book also builds the case for using the idea of spontaneous order as an explanatory social theory, with chapters on its application in the fields of science, moral philosophy, law and government. (shrink)

We make the case that scientifically accurate and politically feasible responses to the climate crisis require a complex understanding of human cultural practices of niche construction that moves beyond the adaptive significance of culture. We develop this thesis in two related ways. First, we argue that cumulative cultural practices of niche construction can generate stable equilibria and runaway selection processes that result in long-term existential risks within and across cultural groups. We dub this the back of the invisible (...) class='Hi'>hand. Second, we argue that the ability of cultural groups to innovate technological solutions to environmental problems is highly constrained in ways that are exacerbated by sustained intergroup conflict, inequality and by inherently unpredictable cascades in climate change and human migration patterns. After developing these theoretical points about human cultural practices of niche construction in detail, we conclude our discussion with some tentative practical suggestions about the way that cultural evolutionary history can more fruitfully be used in efforts to remit the climate crisis and contribute to sustainable practices of human climate change adaptation. (shrink)

I reconstruct Adam Smith’s theory of irony and its application. I illustrate how he defines it as a combination of something “grand” with something “mean” and how this is consistent with his anti-Cartesian and post-skeptic epistemology. I suggest that, for Smith, “systems” of any kind, from Cartesian physics to philosophical monotheism, Stoic ethics, and the “mercantile system” draw their apparent plausibility from some disease of human imagination. I argue that in every field, including political economy, in his view, the philosopher’s (...) task is partially sceptical and partially ironical. That is, it is the task to fight erroneous systems by showing how these arise from unwarranted associations of ideas between apparently “grand” ideas —say, the public interest— with “mean” ones, say, the merchants’ self-interest. In this light, the phrase “invisible hand” turns out to be both an ironic joke and one more application of Smith’s post-skeptical theory of knowledge whose target is dismantling all kind of “invisible” entities that human imagination tends to create. (shrink)

Marxism has found its home in the academic world in various disciplines: economics, philosophy, sociology, and political science. An under-appreciated area is Marxist accounting. At first, this seems like a rather strange field in which to develop the theories of Marxism, but Rob Bryer, in his book Accounting for Value in Marx’s Capital: The Invisible Hand, has brought attention to Marxist accounting and its necessity for understanding Marxist theory. This is relevant not only to those who study accounting (...) but to all who have an interest in Marxism’s basis for value and, even more importantly, the labour theory of value as a whole. (shrink)

I intend to dismantle a piece of historiographic mythology created by self-styled ‘Revisionists’ (Hill, Alvey, Oslington, etc.). According to the myth, Adam Smith endorsed several of the traditional proofs of God’s existence; he believed that the order existing in the world is a morally good order implemented by Divine Providence; he believed that evil in the world is part of an all-encompassing Divine Plan; and that the ‘invisible hand’ is the hand of the Christian God who leads (...) the rich to employ their wealth for the greater benefit of the greatest number. -/- I argue instead that there is a remarkable analogy between Smith’s and Kant’s theory of religion. Smith’s philosophy is a third way between Rationalism and Phyrronism, arguing that doctrines confirmed by reason in every field, from natural science to theology, are nothing more than combinations of ideas agreeable to the imagination; if we try, on the basis of both Smithian texts and their context and co-text, to reconstruct his lectures on natural theology, all kind of evidence converge in indicating that he reduced proofs of God´s existence to ‘inventions of the imagination’ and argued that philosophical theism is not different in status from primitive belief in invisible beings, or that it is as unwarranted as any system is, and besides that it generates a moral conundrum; he argued also that teleological explanations are no more and no less imaginary than those based on efficient causes, that the teleological order we may imagine in the world is not too bad from a ‘consequentialist’ point of view, and yet it is far below any moral standard; I argued that this is by no means a proof of Smith’s ‘irreligion’ and also that no convincing proof of any turn from religion to irreligion on his part has been provided so far, and finally that the two viable options he left open were either dismal unbelief or Theism on a moral basis. -/- I defend this third way by proving that what Smith’s lost lectures on natural religion said can be reconstruct with some plausibility and what they did not say with absolute certainty; I argue that he developed a sharp criticism of natural theology, that he argued that at the root of religion there are a number of principles of the mind that make religious belief a ‘natural belief’; I do so by reconstructing, first, the context of the missing lectures (sect. 2); then the contents of their first part, considering the proofs of God’s existence and his attributes (sects 3-4); the ‘principles of the mind’ lying at the root of polytheism (sect. 5), of philosophical monotheism (par. 6), and of pure and rational religion (par.7); I contend, then, that his vindication of toleration is consistent with ‘pure and rational religion’ (par. 8) and that attempts to prove a phantom conversion to ‘natural religion’ or ‘irreligion’ result from misreading (par.9). -/- My conclusions are: i) Adam Smith claimed that any natural theology is impossible; ii) There is in fact some kind of order in the world, and it proves useful to a point in allowing for humankind’s survival, but it doesn’t meet any minimal moral criterion; iii) the world is not teleologically ordered; we may indeed imagine such order for mental economy, but the world abounds in misery and depravity; iv) consequences of human wickedness and insanity do, happily enough, deviate from intended outcomes; we may feign invisible mechanisms at work behind, but to mistake them for a hidden mechanism is as childish as the primitive’s belief in ‘invisible beings’. v) there are indeed themes from theological doctrines in Smithian economic theory, but they not the kind of rational theology ‘discovered’ by the ‘New View’; they are instead Augustinian and Jansenist themes. vi) Smith’s theological doctrines did – as suggested by Waterman – have a bearing on his economic theory not by ‘doctrinal dependence’ but – as suggested by Harrison – in the more modest role of source of blueprints for economic explanation. (shrink)

Everyone has heard of "the invisible hand," the famous metaphor used by Adam Smith (1723-1790) in The Wealth of Nations. Although he uses the expression only once in the book, it has given rise to controversy that has lasted for over two centuries. -/- The famous expression has been understood, in (at least) two very different ways. In one way by most of academia, and in a very different way by Keynes, Noah Chomsky and more lately by Mark (...) Blaug (in the second edition of The New Palgrave, 2008). -/- In the standard textbook interpretation, it is considered a poetical name for "the price mechanism" and presented as an argument in favor of laisser-faire and free trade. In this paper we recall the less well-known interpretation (of Keynes, Blaug and Chomsky), showing that Smith was more reserved towards laisser-faire than is commonly believed and that by "invisible hand" he did not mean the price mechanism. (shrink)

We present a model of the distribution of labour in science. Such models tend to rely on the mechanism of the invisible hand . Our analysis starts from the necessity of standards in distributed processes and the possibility of multiple standards in science. Invisible hand models turn out to have only limited scope because they are restricted to describing the atypical single-standard case. Our model is a generalisation of these models to J standards; single-standard models such (...) as Kitcher are a limiting case. We introduce and formalise this model, demonstrate its dynamics and conclude that the conclusions commonly derived from invisible hand models about the distribution of labour in science are not robust against changes in the number of standards. (shrink)

Within the Anglo-American world, economic liberalism is generally viewed as having only one progenitor—Adam Smith—and one offspring—neoliberalism. But it actually has two. The work of G. W. F. Hegel was also very influential on the development of economic liberalism, at least in the German-speaking world, and the most powerful contemporary instantiation of economic liberalism within that world is not neoliberlaism, but ordoliberalism, although this is generally unknown and certainly unacknowledged outside of Continental Europe. Accordingly, what I am going to be (...) doing in this piece is trying to bring ordoliberalism more directly into the light—I will argue that by comparing and contrasting the views of Smith and Hegel or at least between how Smith and Hegel tend to be currently (mis)understood, we can better understand both the roots and the nature of these two contemporary incarnations of economic liberalism, and the light this sheds, in turn, brings some interesting and important features of these two contemporary theories into view. From Smith, for example, neoliberals took the idea of the invisible hand, although I am going to argue that contemporary advocates of invisible hand theory have largely misconstrued or at the very least overstated the significance of this metaphor. From Hegel, in contrast, ordoliberals took the idea of the civil society, and I will argue that the civil society is a much better metaphor not only for Hegel's but also for Smith's views. Indeed, I will argue that ordoliberalism, not neoliberalism, is a better and more coherent instantiation of economic liberalism than neoliberalism could ever be. (shrink)

As these opening quotes acknowledge, the Prisoner’s Dilemma (PD) represents a core puzzle within the formal mathematics of game theory.3 Its rise in conspicuity is evident figure 2.1 above demonstrating a relatively steady rise in incidences of the phrase’s usage between 1960 to 1995, with a stable presence persisting into the twenty first century. This famous two-person “game,” with a stock narrative cast in terms of two prisoners who each independently must choose whether to remain silent or speak, each advancing (...) self-interest at the expense of the other and thereby achieving a mutually suboptimal outcome, mires any social interaction it is applied to into perplexity. The logic of this game proves the inverse of Adam Smith’s invisible hand: individuals acting on self interest will achieve a mutually suboptimal outcome. However, as this chapter illuminates, the assumptions underlying game theory drive this conclusion. (shrink)

Even in a regulated and competitive market economy the behavior of firms leaves much to be desired. Looking beyond the invisible hand of the market and the iron hand of the law, this chapter outlines and assesses arguments for the intangible hand of civil society. The central mechanisms in our model depend on the importance of social esteem and self-esteem. Such esteem depends on assessments of true intentions and dispositions for costly pro-social actions. Instrumental or reputation-shaping (...) pro-social actions matter little in the economy of esteem. What is required is a common belief that conformity to certain costly standards benefits all; and that conformity is observable and elicits social approval (and vice versa). We acknowledge and review why in the realm of competitive commercial organizations, the challenges may be considerable for the intangible hand model to take hold. Moralizing (or professionalizing) the firm’s agents, inducting the voice of affected parties in the deliberation of firms, public (if strategically delayed) disclosure of internal deliberations, and public commitments by senior leaders all offer promise in enacting an economy of esteem in the world of competitive commercial firms. (shrink)

Introduction. The book is a study in Adam Smith's system of ideas; its aim is to reconstruct the peculiar framework that Adam Smith’s work provided for the shaping of a semi-autonomous new discipline, political economy; the approach adopted lies somewhere in-between the history of ideas and the history of economic analysis. My two claims are: i) The Wealth of Nations has a twofold structure, including a `natural history' of opulence and an `imaginary machine' of wealth. The imaginary machine is a (...) kind of Newtonian theory, whose connecting links are principles; provided either by `partial' characteristics of human nature or by analoga of physical mechanisms transferred to the social world; ii) a domain of the economic, understood as a self-standing social sub-system, was discovered first by Adam Smith. His `discovery' of the new continent of the economic was an `unintended result' of a deviation in his voyage to the never-found archipelago of natural jurisprudence. -/- 1. Imaginary machines and invisible chains: natural philosophy and method. The first chapter reconstructs Smith's views on the method in natural philosophy, presented primarily in the History of Astronomy (HA). The peculiar kind of semi-sceptical Newtonianism which permeates the essay is highlighted. Its reconstruction of the history of one natural science is shown to be based on the assumptions of Hume’s epistemology, and to lead to a self-aware deadlock. Smith's dilemma is between an essentialist realism and sceptical instrumentalism; the Cartesian presuppositions he shares with Hume and with the 18th century as a whole make it impossible for him to overcome his dilemma. The following chapters will show how, on the one hand, Smith's skeptical methodology encourages him in the enterprise to `carve off' a new self-contained discipline and how, on the other hand, his epistemological dilemma is reflected in the inner tensions of his moral and political theory as well as in a number of basic oscillations concerning the status of the new discipline. -/- 2. Chessboards and clocks: moral philosophy and method. -/- The second chapter reconstructs Smith's views on the method in the parallel field of moral philosophy, including the theory of moral sentiments and natural jurisprudence. I argue that The Theory of Moral Sentiments, when considered together with with the Lectures on Jurisprudence, where Smith's peculiar version of a `weaker' form of natural law is presented, wins special interest, not only for the history of ethics but even more for the history of political theory and the social sciences. The two most striking features of Smith's work in this area are highlighted. First, his effort at reformulating the `practical science' is a methodologically self-aware attempt at applying the Newtonian method to moral subjects. Secondly, this attempt ends in a stalemate as two distinguished kinds of normative order are introduced: one ultimate order of Reason, ultimately justifiable but inaccessible, and one weaker order of our `natural sentiments', to which we have empirical access, but which is so variable as to lack any ultimate value as a basis for grounding our normative claims. These two parallel conundrums may arguably account for the author's inability to publish during his lifetime both The History of Astronomy and the projected history and theory of law and government. -/- 3. Wheels, dams, and gravitation: the structure of scientific argument in The Wealth of Nations. -/- The third chapter provides the core of the book, dealing with the structure of the argument in WN. I argue that the main presupposition that makes the shift possible from a `natural history' to a `system' approach is the Newtonian contrast of `mathematical' with `physical' explanation; that is, Smith drops any discussion of the "original qualities" of human nature that could account for economic behaviour, while introducing, as `principles' for the system, a set of `hypothetical' statements of `observed' regularities in human behaviour and of `observed' super-individual self-regulating mechanisms. In bringing this presupposition to light, the coexistence of a teleological with a mechanistic approach is clarified; fresh light is shed on the notion of the invisible hand by a comparison of its occurrence in Smith with the occurrence of the same expression (until now overlooked) in the correspondence between Newton and Cotes. Finally, the peculiar semi-prescriptive and semi-descriptive character of political economy are highlighted, and the consistency of Smith's `impure' semi-prescriptive social science, when understood in his own terms, is defended against familiar charges with inconsistency and against even more familiar strained modernizations. -/- 4. Apples, deer, and frivolous trinkets: the construction of the economic. -/- The fourth chapter draws consequences from the third, examining how Smith's achievement in political economy, marking its transition to scientific status, carried a re-description of the phenomena, creating the comparatively independent and unified field of the economic. Smith's achievement is interpreted not as the `discovery' of an autonomous character already possessed by the economy out there, so much as a Gestalt-switch by which our perception of social phenomena is modified making us `see' the partial order of the economy as an isolated system. To sum up, the autonomy of the economic in social reality and the autonomy of the economic in social consciousness are shown to be two sides of one process. -/- 5. Concluding considerations: Political economy and the Enlightenment halved. -/- A few suggestions on the status of economic theory two centuries after The Wealth of Nations in its relationship to ‘practical philosophy’ are illustrated. (shrink)

A theory of property needs to give an account of the whole life-cycle of a property right: how it is initiated, transferred, and terminated. Economics has focused on the transfers in the market and has almost completely neglected the question of the initiation and termination of property in normal production and consumption (not in some original state or in the transition from common to private property). The institutional mechanism for the normal initiation and termination of property is an invisible- (...) class='Hi'>hand function of the market, the market mechanism of appropriation. Does this mechanism satisfy an appropriate normative principle? The standard normative juridical principle is to assign or impute legal responsibility according to de facto responsibility. It is given a historical tag of being "Lockean" but the basis is contemporary jurisprudence, not historical exegesis. Then the fundamental theorem of the property mechanism is proven which shows that if "Hume's conditions" (no transfers without consent and all contracts fulfilled) are satisfied, then the market automatically satisfies the Lockean responsibility principle, i.e., "Hume implies Locke." As a major application, the results in their contrapositive form, "Not Locke implies Not Hume," are applied to a market economy based on the employment contract. It is shown the production based on the employment contract violates the Lockean principle (all who work in an employment enterprise are de facto responsible for the positive and negative results) and thus Hume's conditions must also be violated in the marketplace (de facto responsible human action cannot be transferred from one person to another—as is readily recognized when and employer and employee together commit a crime). (shrink)

Since the publication of Kitcher’s influential paper The Division of Cognitive Labor, some philosophers wondered about these two related issues: (1) which is the optimal distribution of cognitive efforts among rival methods within a scientific community?, and (2) whether and how can a community achieve such an optimal distribution? Though not committing to any specific answer to question (1), I claim that issue (2) does not depend exclusively on an invisible hand like mechanism, since both intra-scientific and extra-scientific (...) institutions may play a major role. Finally, I examine some practical difficulties of reallocating scientists from a method to another, which leads to stress the importance of well-planned training and recruitment. (shrink)

An extended analysis compared to observations shows that modern “globalised” world civilisation has passed through the invisible “complexity threshold”, after which usual “spontaneous”, empirically driven kind of development (“invisible hand” etc.) cannot continue any more without major destructive tendencies. A much deeper, non-simplified understanding of real interaction complexity is necessary in order to cope with such globalised world development problems. Here we introduce the universal definition, fundamental origin, and dynamic equations for a major related quantity of (systemic) (...) risk characterising real complex system development tendencies at any level of dynamics. Practically important conclusions are derived, opening further detailed applications in economy, finance and development practice. (shrink)

In a world of partially overlapping and partially conflicting interests there is good reason to doubt that self-seeking behaviour at the micro-level will spontaneously lead to desirable social outcomes at the macro-level. Nevertheless, some sophisticated economic writers advocating a laissez-faire policy prescription have proposed various 'invisible hand' mechanisms which can supposedly be relied upon to 'educe good from ill'. Smith defended the 'simple system of natural liberty' as giving the greatest scope to the unfolding of God's will and (...) the working out of 'natural' providential processes free of interference by 'artificial' state intervention - the expression not of divine order but of fallible human reason. Hayek, adopting a similar policy stance, based it in an evolutionary process in which those institutional forms best adapted to reconciling individual interests would, he believed, spontaneously be selected for in the inter-group struggle for survival. Keynes shares the holistic approach of Smith and Hayek, but without their reliance on invisible hand mechanisms. If spontaneous processes cannot be relied upon to generate desirable social outcomes then we have to take responsibility for achieving this ourselves by establishing the appropriate institutional framework. Keynes takes a historical view of the role of capitalism and analyses its pathology as rooted in what we would now refer to as a multi-player prisoners' dilemma. The paper draws out the significance of his methodological standpoint here. Keynes's policy standpoint assigns a critical role to his own class, the 'educated bourgeoisie' in the reform process he maps out. A distinction, but also an intimate connection, is highlighted between, on the one hand, micro-level individualism (the 'Manchester System, and, on the other, the macro-level collective action ('planning') required to preserve it. Finally Keynes is considered in relation to the themes of laissez-faire, holism, reductionism, providentialism and the invisible hand. (shrink)

This thesis argues for the fundamental importance of the opposition between holistic and reductionistic world-views in economics. Both reductionism and holism may nevertheless underpin laissez-faire policy prescriptions. Scrutiny of the nature of the articulation between micro and macro levels in the writings of economists suggests that invisible hand theories play a key role in reconciling reductionist policy prescriptions with a holistic world. An examination of the prisoners' dilemma in game theory and Arrow's impossibility theorem in social choice theory (...) sets the scene. The prisoners' dilemma epitomises the collective irrationality coordination problems lead to. The source of the dilemma is identified as the combination of interdependence in content and independence in form of the decision making process. Arrovian impossibility has been perceived as challenging traditional views of the relationship between micro and macro levels in economics. Conservative arguments against the possibility in principle of a social welfare function are criticised here as depending on an illicit dualism. The thesis then reviews the standpoints of Smith, Hayek and Keynes. For Smith, the social desirability of individual self-seeking activity is ensured by the 'invisible hand' of a god who has moulded us so to behave, that the quantity of happiness in the world is always maximised. Hayek seeks to re-establish the invisible hand in a secular age, replacing the agency of a deity with an evolutionary mechanism. Hayek's evolutionary theory, criticised here as being based on the exploded notion of group selection, cannot underpin the desirability of spontaneous outcomes. I conclude by arguing that Keynes shares the holistic approach of Smith and Hayek, but without their reliance on invisible hand mechanisms. If spontaneous processes cannot be relied upon to generate desirable social outcomes then we have to take responsibility for achieving this ourselves by establishing the appropriate institutional framework to eliminate macroeconomic prisoners' dilemmas. (shrink)

This paper reconstructs the ways in which metaphors are used in the text of “The Wealth of Nations”. Its claims are: a) metaphor statements are basically similar to those in the “Theory of the Moral Sentiments”; b) the metaphors’ ‘primary subjects’ refer to mechanics, hydraulics, blood circulation, agriculture, medicine; c) metaphors may be lumped together into a couple of families, the family of mechanical analogies, and that of iatro-political analogies. Further claims are: a basic physico-moral analogy is the framework for (...) Smith’s psychological theory as well as for his overall social theory and for his theory of market mechanisms; a iatro-mechanical analogy is as pervasive as the physico-moral analogy and provides the framework for his overall evolutionary theory of society; the invisible-hand simile relies on the physico-moral analogy, and elaborates on the role of vis attractiva and vis a tergo in mechanics. (shrink)

I argue that Adam Smith does more than providing an account of competitive behavior loosely linked to an underlying psychology since the joint between the complex psychology of The Theory of Moral Sentiments and the invisible hand pages in The Wealth of Nations explains why some of the basest affections, greed and ambition, prevail over other tendencies in certain social groups, namely merchants and manufacturers, in a commercial and urban society.

The world never stands still. There is always a Brownian movement of economic subjects and objects on the face of it. But, if we have been visualizing this movement over a relatively long period of time, then we can distinguish the acceleration and increase in the volume of movements along individual commodity routes, the growth and formation of new subjects of international economic relations. From time to time, "accelerators" of this movement appear, either in the form of new types of (...) energy to service production, or technologies to simplify the exchange and distribution of benefits. The market, controlled by the "invisible hand", is gradually taking over the whole world, and some new goods appear to meet the needs. We use technologies and devices described in unreal fantasy plots of classical literature already today in real life. The speed of change is exciting on the one hand and is frightening on the other hand. In the modern world, it would seem, everything is mobile. The quality and cost of transportation has no longer been a physical obstacle to any exchange and travel. The forms of modern financial transactions for service international economic relations, their speed and coverage are impressive. Enterprises, in terms of capitalization, exceed the national incomes of states and do not have spatial territorial boundaries, being the main players in international economic relations along with states, their associations and international organizations. Digitalization is no longer a challenge for society, but our present. It seems sometimes that the world allegedly wants to slow down the further development of mankind and creates obstacles in the form of wars, epidemics and crises. Such obstacles become challenges for the development of economic entities of all levels. Change always creates unexpected opportunities for someone and insurmountable restrictions for other one. Change always leads to a redistribution of forces. Changes are needed to overthink the nature and direction of movement. Changes are the certain reorganization of the world economic system. The world is always on the verge of changes. What will they be this time? (shrink)

Thomas C. Leonard presents an intellectual history of the Progressive Era from the perspective of economists. It is hard to understate the influence this group had in developing Progressive ideas. Leonard brilliantly details how Progressive economists wielded enormous influence not only in spreading ideas about traditional economic concepts, but also ideas and theories that influenced political and civil liberties. For example, the Progressives gave us the social science professor, the scholar-activist, social worker, muckraking journalist, and expert government advisor. All of (...) these reform-vocations, according to Leonard, sought to replace the invisible hand of the market with the visible hand of the administrative state. In short, Leonard’s book is a must-read for everyone remotely interested in political economy. (shrink)

Background: The United States symbolizes democracy in the new world and contributes to global prosperity. Nevertheless, incrementalism is a historically dominant national approach to public policy implementation that delays democracy and undermines human dignity. Human flourishing and national development are endangered by slow-moving democratic changes. This necessitates a social justice framework that traces the exploitation of incrementalism and the consequences of opportunity gaps. Objectives: This study aims to construct a grounded theory to address and answer the following research question: Are (...) anti-democratic concepts part of a process or strategy that hinders democratic change, and what reinforces it, if anything? Methods: Two categories emerged from a grounded theory of democratic social change. This combination of anti-democratic tenets and democratic principles led to abductive reasoning to fill the research gap. Results: The key finding was the existence of a systematic approach that led to democracy while simultaneously disempowering the same group through legal and extralegal means. Two processes hinder democracy: incrementalism and an anti-democratic demoralizing process. A constructivist social justice grounded theory was developed to analyze and evaluate public policy for barriers and facilitators of democracy. A thorough analysis and evaluation of the impact and consequences of public policy is recommended to better understand how such policies impede democracy and influence American perceptions of justice. (shrink)

Adam Smith is respected as the father of contemporary economics for his work on systemizing classical economics as an independent field of study in The Wealth of Nations. But he was also a significant moral philosopher of the Scottish Enlightenment, with its characteristic concern for integrating sentiments and rationality. This article considers Adam Smith as a key moral philosopher of commercial society whose critical reflection upon the particular ethical challenges posed by the new pressures and possibilities of commercial society remains (...) relevant today. The discussion has three parts. First I address the artificial separation between self-interest and morality often attributed to Smith, in which his work on economics is stripped of its ethical context. Second I outline Smith’s ethical approach to economics, focusing on his vigorous but qualified defence of commercial society for its contributions to prosperity, justice, and freedom. Third I outline Smith’s moral philosophy proper as combining a naturalistic account of moral psychology with a virtue ethics based on propriety in commercial society. (shrink)

Business ethics denial refers to one of two claims about moral motivation in a business context: that there is no need for it, or that it is impossible. Neither of these radical claims is endorsed by serious theorists in the academic fields that study business ethics. Nevertheless, public commentators, as well as university students, often make claims that seem to imply that they subscribe to some form of business ethics denial. This paper fills a gap by making explicit both the (...) various forms that business ethics denial can take, and the reasons why such views are ultimately implausible. The paper argues that this type of serious engagement with business ethics denial should be an important part of the job description for teachers of business ethics. (shrink)

The present work is to be a critique of Rawls’ Veil of Ignorance as well as putting forth an alternative analytical tool when constructing societies known as the L’echelle Naturelle. My paper hopes to argue that inequalities in a society are not only essential in society contrary to Rawls’ Egalitarian ideology, but do in fact contain equality so long as the autonomy of the citizen is fully exercisable. I contend that institutions such as government and their extensions namely the law, (...) have debilitated the exercisability of autonomy. The consequence of that is an artificial hierarchy monopolized by a minority rather than a natural hierarchy where every citizen is a means unto themselves. The phenomenon of a natural hierarchy that is made possible by unchained autonomy is what the L’echelle Naturelle hopes to expound upon in the forthcoming work. (shrink)

Capitalism: The Birth of an Idea. Amongst the Enlightenment’s emancipatory slogans was a call for the liberation of economic energy, a call that was most fully expressed by Adam Smith in Inquiry into the Nature and Causes of the Wealth of Nations. Smith provided a final analysis of the mercantilist system that had been prevailing from the beginning of the sixteenth century. By justifying the superiority of the free market economy models, Smith created the intellectual foundations for the capitalist order. (...) He proposed a model for the production and distribution of goods that was based on two pillars: the right to private property and free market institutions. The vision of capitalism created by Smith was a system of power and freedom: a system of individual sovereignty over the world of objects and a system of the free circulation of goods. The combination of these two principles resulted in a coherent system which, when used in practice, has shown remarkable efficiency. Smith’s work proved to be a reliable way to achieve worldly success, one that has worked wherever it was tried out. Capitalism, and the accompanying moral philosophy, was the most commonly pursued idea of the eighteenth century. (shrink)

Shame is notoriously ambivalent. On one hand, it operates as a mechanism of normalization and social exclusion, installing or reinforcing patterns of silence and invisibility; on the other hand, the capacity for shame may be indispensible for ethical life insofar as it attests to the subject’s constitutive relationality and its openness to the provocation of others. Sartre, Levinas and Beauvoir each offer phenomenological analyses of shame in which its basic structure emerges as a feeling of being exposed to (...) others and bound to one’s own identity. For Sartre, shame is an ontological provocation, constitutive of subjectivity as a being-for-Others. For Levinas, ontological shame takes the form of an inability to escape one’s own relation to being; this predicament is altered by the ethical provocation of an Other who puts my freedom in question and commands me to justify myself. For Beauvoir, shame is an effect of oppression, both for the woman whose embodied existence is marked as shameful, and for the beneficiary of colonial domination who feels ashamed of her privilege. For each thinker, shame articulates the temporality of social life in both its promise and its danger. (shrink)

Abstract. Traditional epistemology of knowledge and belief can be succinctly characterized as JTB-epistemology, i.e., it is characterized by the thesis that knowledge is justified true belief. Since Gettier’s trail-blazing paper of 1963 this account has become under heavy attack. The aim of is paper is to study the Gettier problem and related issues in the framework of topological epistemic logic. It is shown that in the framework of topological epistemic logic Gettier situations necessarily occur for most topological models of knowledge (...) and belief. On the other hand, there exists a special class of topological models (based on so called nodec spaces) for which traditional JTB-epistemology is valid. Further, it is shown that for each topological model of Stalnaker’s combined logic KB of knowledge and belief a canonical JTB-model (its JTB-doppelganger) can be constructed that shares many structural properties with the original model but is free of Gettier situations. The topological model and its JTB-doppelganger both share the same justified belief operator and have very similar knowledge operators. Seen from a somewhat different perspective, the JTB-account of epistemology amounts to a simplification of a more general epistemological account of knowledge and belief that assumes that these two concepts may differ in some cases. The JTB-account of knowledge and belief assumes that the epistemic agent’s cognitive powers are rather large. Thereby in the JTB-epistemology Gettier cases do not occur. Eventually, it is shown that for all topological models of Stalnaker’s KB-logic Gettier situations are topologically characterized as nowhere dense situations. This entails that Gettier situations are epistemologically invisible in the sense that they can neither be known nor believed with justification with respect to the knowledge operator and the belief operator of the models involved. (shrink)

The paper discusses a posthuman reading of Merleau-Ponty’s later works and an application of the concept of flesh to the digital dimension. Whereas, in the Phenomenology of Perception, the world and other beings are seen from an egological and human perspective, in The Visible and the Invisible this perspective is reshaped. Human body is made of the same stuff of other bodies, and they constitute a common being, the flesh of the world. Merleau-Ponty sets out a path through flat (...) ontology and posthumanism, opposing human perspective as a privileged one. His posthuman turn passes through the concepts of reversibility and divergence. Humans are made of the same stuff as non-humans, so they reverse into one another, but, on the other hand, they are not reduced to an undifferentiated entity, because of their divergence. Merleau-Ponty’s problematizing perspective is here actualized and applied to the hybridization between human bodies and digital protheses. (shrink)

The relations between Searle, Derrida, CP and phenomenology are complex. The writings of Derrida, the most influential figure within CP, are inseparably bound up with phenomenology and with the transformation of phenomenology effected by Heidegger. Indeed a large part of CP grew out of phenomenology. It has often been claimed that Searle's own contributions to the philosophy of mind advance claims already put forward by the phenomenologists, and Searle himself has given his own account of phenomenology, in particular of the (...) role of idealism in phenomenology. In what follows I argue that the preoccupations of early phenomenology are often those of later analytic philosophers - a point that remains invisible so long as phenomenology is looked at from the point of view of what phenomenology became - but that Searle's philosophy of mind differs on most central points from that given by Husserl. On the other hand, Searle's criticisms of Derrida and of the philosophical parts of postmodernism do indeed have much in common with the criticisms put forward by the early phenomenologists and by Husserl himself of what they saw as phenomenology's gradual transformation and degeneration and of related irrationalisms. A grasp of these similarities will suggest the beginnings of an answer to the question why Searle's anti-Derridas and anti-postmodernisms are such splendidly isolated examples of the genre. (shrink)

Lloyd Jones’s *The Book of Fame*, a novel about the stunningly successful 1905 British tour of the New Zealand rugby team, represents both skilled group action and the difficulty of capturing it in words. The novel’s form is as fluid and deceptive, as adaptable and integrated, as the sweetly shaped play of the team that became known during this tour for the first time as the All Blacks. It treats sport on its own terms as a rich world, a set (...) of bodily skills, and an honest profession in itself. A reading of *The Book of Fame* can contribute to the interdisciplinary study of literature and cognition, exemplifying two-way ‘exchange values’. On the one hand, we gain insights into the nature of skilful group agency, of distinct forms and at distinct timescales, by focussing on the precise forms taken by the All Blacks’ creation of space. Here, we treat The Book of Fame as a brilliant evocation of features of collective thought, movement, and emotion that both everyday and scientific inquiry can easily miss. On the other hand, we also read back into the novel a subtle, fascinated interrogation of the mechanisms by which small groups form, evolve, and act. In this more ambitious mode of analysis, we use independently motivated theoretical concerns to help us see real features of the literary work that might otherwise remain invisible. We focus on the relationship between skilful performance and collective action. These topics fall outside the ambit of much current work by literary theorists using cognitive research, who tend to focus on theory of mind and modularity, metaphor and blending, emotion and empathy, consciousness and concepts, representation and so on. But skilled performance and collective action comprise surprisingly lively research fields across the sciences, from neuropsychology to philosophy of mind and cognitive anthropology. These areas of inquiry may provide even more productive avenues for future work in the interfield of literary and cultural theory and the cognitive sciences. (shrink)

Martin Heidegger defines the world as ‘the ever non-objective to which we are subject as long as the paths of birth and death . . . keep us transported into Being’. He writes that the world is ‘not the mere collection of the countable or uncountable, familiar and unfamiliar things that are at hand . . . The world worlds’. Being able to fully and richly express how the world worlds is the task of the artist, whose artwork is (...) the crystallization of this ‘worlding’. For Heidegger it is especially the poet who is attuned to this ‘worlding’, for the poet’s work is focussed on and happens within language itself. The poet is a ‘world-maker’, but this ‘worlding’ is not directed at creating a fictional world; rather it is aimed at revealing the world itself, drawing to the foreground the ‘ever non-objective’ nature of the world, the world happening and unfolding through and with us. This paper, using T.S. Eliot’s poetry, particularly Four Quartets as an example, will delve into how the language of the poet is able to articulate this seemingly invisible boundary between the everyday world and that same world revealed as a mysterious potential that ‘worlds’. The ‘religious imagination’ is central in how this transformation of reality, through poetic language, can manifest. Paul Ricoeur’s work on the poetic and religious dimensions of imagination, particularly the notion of ‘hope’ provides the theoretical underpinnings to explain this transformation. (shrink)

This book studies the technognomies of memory in scripto as in texts, lists, dictionaries and databases and less the technognomies of memory in vivo (as in remembering). There are of course some relations between these two kinds of memories, being memory-in-scripto a development parallel to the development of written language. We notice that the historical presentation is built upon both forms of memory. We notice that the historical explanation is tied to the concrete experience of persons belonging to a culture. (...) In the history of memory then, it is necessary to distinguish two important aspects, the development of spoken memory and the development of written memory. The essential characteristic of written memory is its muteness. Muteness is also associated to spatiality and to stability. On the other hand, audial presentations are inseparable of the notions of movement and time passing. According to Don Ihde the spheres of the invisible and the silent, limit the spheres of the visual and the audial. These two spheres overlap partially in visual presentations that also are audial presentations; however, their natural being is to be independent from each other. [Ihde, Don. Listening and Voice. Phenomenologies of Sound; State University Press; 2007; p. 50-51.] In our time, which is also the time of the globalization and digitalization of culture, a new philosophical paradigm is going on characterized by the fragmentation of experience. This fragmentation does not allow an overview of the totality of a field of experience, which is only possible to reduce to singular analytical moments. The fragmentation of experience is the result of a new jump of the capability to concretion. Inside this new paradigm, the world becomes multistable. The multistability of the world creates a gap between intention and implementation that distinguishes the “full” history as Natural history from the “broken” history as Cultural history. (shrink)

This essay claims that ‘access to justice’ has erroneously been assumed to be synonymous with invisible concepts instead of access to a lawyer’s language. The Paper outlines how a language concerns the relation between signifiers, better known as word-images, on the one hand, with signfieds, better known as concepts, on the other. The signifieds are universal, artificial and empty in content. Taking the Canadian Charter of Rights and Freedoms as an example, officials have assumed that Charter knowledge has (...) involved signifieds (such as rules, principles, doctrines and tests) as if the signifiers were transparent. But any one signifier differs from another signifier without the lawyer ever accessing the invisible signifieds. Ironically, although the lawyer, law professor or law student believes that s/he is studying legal ‘practice’ and although legal knowledge has been considered a matter of signified concepts, the knowledge has really concerned the differentiating relations of signifiers. As a consequence, the moment of accessing the concepts (signifieds) has been forever deferred. ‘Access to justice’ has become access to the special language of signifiers, a language which lawyers alone are privileged to enforce. Turning to the Charter, lawyers claiming to know the special Charter language became indispensable to social life. Even the meaning-constituting human subject became a signifier, better known as ‘the legal person’ defined by Charter rights. Charter language, however, has deferred an access to the invisible concepts such as ‘freedom’ or ‘democracy’, terms in Section of the text. Access to justice’ has become access to the language of the privileged class of lawyers. The lawyer’s language has become a theoretical language in the name of access to justice. And yet, because the theoretical language has been propagated as concerned with ‘practice’, it has been difficult to challenge the social-cultural content of the language of lawyers. (shrink)

Believing is what makes the believer believe what the believer wants to believe and this belief lures the energy to flow from the external to the internal; from the invisible to the visible; what we consider as a phenomenon or fulfilment of dreams in our lifetime. Cosmic energy naively progresses to create and recreate; to form and reform; to rise and give rise to and to fill and fulfil the desires of a being. Belief drives the experience of the (...) experiencer; for it fills the being to its completeness and renders the achiever to achieve and believe in oneself. The belief of a believer is therefore unique and special to the believer and can never be or should never be taken away; for if so, may lead to loss of the being’s ability to perceive the ever prevalent energy; for there is no alternative to belief and believing for the higher being. On the other hand, if belief is coerced or foisted, it may lead to an excruciating irremediable change in the energy with a forfeiture of the soul, mind and consciousness. (shrink)

Today, a consistent part of our everyday interaction with art and aesthetic artefacts occurs through digital media, and our preferences and choices are systematically tracked and analyzed by algorithms in ways that are far from transparent. Our consumption is constantly documented, and then, we are fed back through tailored information. We are therefore witnessing the emergence of a complex interrelation between our aesthetic choices, their digital elaboration, and also the production of content and the dynamics of creative processes. All are (...) involved in a process of mutual influences, and are partially determined by the invisible guiding hand of algorithms. -/- With regard to this topic, this paper will introduce some key issues concerning the role of algorithms in aesthetic domains, such as taste detection and formation, cultural consumption and production, and showing how aesthetics can contribute to the ongoing debate about the impact of today’s “algorithmic culture”. (shrink)

When considering the possibility of a vision of God, a paradox seems to appear in John Scot-tus Eriugena’s philosophy. On the one hand, God is said to be invisible, unthinkable, inac-cessible to any creature, be it rational or intellectual, man or angel. On the other hand, a vision of God, a contemplation, is said to be the reward of all nature in paradise, and this very contemplation the condition of all future souls. The solution of this false (...) problem is to be found in the notion of theophany. Its analysis and interpretation are the core of this article. Eriugena finds this ancient greek term, which means literally ‘manifestation of God’, in the corpus of the Pseudo-Dionysus and promptly uses it in a new philosophical way. Four different meanings of theophany may be found in John Scottus’ writing. They are: the manifestation of the first principle, the sensible world, the Christ, and finally human nature deified. This order encompasses Eriugena’s whole philosophical system: everything is a theophany, and the creatures participate in the creation of the creator. A theophany is thus a manifestation of God, as in a manifestation of himself to himself. According to Eriugena, God as principle isn’t yet a being; for God to be, he has to show himself and see himself through humankind. (shrink)

“John Hands has attempted a remarkable thing: nothing less than an exhaustive account of the current state of scientific knowledge about the origins and evolution of the cosmos, life and humanity. His driving questions are those that have inspired all of science, religion and philosophy: What are we? Where do we come from? What is the source of consciousness, value and meaning? Hands painstakingly summarises the current state of knowledge in a huge variety of fields, from cosmology to evolutionary psychology, (...) in enviably lucid prose. His conclusions are measured and sceptical, and his conception of the limits of science is well-argued: he gives an extremely clear view of what science has established, what it has not established, and what it never will. This is a truly exceptional piece of work.” —TIM CRANE, Knightbridge Professor of Philosophy, University of Cambridge . (shrink)

The relationship between economics and the philosophy of natural science has changed substantially during the last few years. What was once exclusively a one-way relationship from philosophy to economics now seems to be much closer to bilateral exchange. The purpose of this paper is to examine this new relationship. First, I document the change. Second, I examine the situation within contemporary philosophy of science in order to explain why economics might have its current appeal. Third, I consider some of the (...) issues that might jeopardize the success of this philosophical project. (shrink)

This paper challenges Mäki's argument about commonsensibles by offering a case study from contemporary microeconomics – contemporary revealed preference theory (hereafter CRPT) – where terms like "preference," "utility," and to some extent "choice," are radical departures from the common sense meanings of these terms. Although the argument challenges the claim that economics is inhabited solely by commonsensibles, it is not inconsistent with such folk notions being common in economic theory.

The paper traces the sequence of events which brought Popperian philosophy (including Lakatos) to its position on the issues of excess content, novelty and scientific progress. The general approach is to analyze Popper's and Lakatos's positions on these issues as an appropriate response to a particular philosophical problem situation in which they found themselves. The paper closes with a discussion of how these issues relate to economics and economic methodology.