The Indian banking system evolved from an exclusive private enterprise controlled by a few wealthy families and trusts, leaving the majority reliant on high-interest private lenders, perpetuating economic disparity. Nationalization of 21 banks under Indira Gandhi aimed to rectify this, aligning with India's constitutional goal of equitable wealth distribution. However, globalization and privatization reshaped the landscape, emphasizing profit-seeking and catering to the corporate sector and affluent classes. The marginalized rural and small business sectors suffered in this pursuit, evident in neglected (...) rural branch postings. To address this, an ethical foundation merging Marxist economics and Shariah banking principles is proposed, seeking inclusivity and ethical grounding. Shariah principles, rooted in Islamic law, extend beyond religious boundaries, while Marxist values amplify voices of the marginalized. By combining these principles, a more inclusive, morally anchored, and holistic Indian banking system can be envisioned. The priority sector's Non-Performing Assets challenge can be addressed without jeopardizing inclusivity. (shrink)

This analysis examines economic collectivization, which is one of the problems in modern economic studies, and reconstruction efforts through a Marxian economic approach with an emphasis on meritocracy. This analysis highlights criticism of modern economic approaches which tend to be abstract, ignore practical aspects of economics, and ignore social problems. The Marxian economic approach is seen as an alternative that prioritizes use-value in economics rather than simply exchange-value. Through Marxian meritocracy, it is hoped that collaboration (...) between econometrics analysts and human resources can produce more relevant economic analysis, consider forgotten social aspects, and support sustainable economic collectivization. (shrink)

The aim of this paper is to paraphrase Theda Skocpol’s theory of social revolutions with the use of the conceptual apparatus of non-Marxian historical materialism. In the successive sections of this paper, the concepts of modernization, the nature of state power, an agrarian bureaucracy, and the mechanism of a victorious revolution are paraphrased. This paraphrase makes it possible to distinguish two kinds of agrarian bureaucracies, each resulting in social revolutions with different outcomes. A victorious revolution led to successful modernization (...) in the case of an economic agrarian bureaucracy, but not in the case of a political agrarian bureaucracy. (shrink)

In the first stage of his thinking Karl Marx founded his revolutionary politics on philosophical speculation, while in the second (mature) stage he relied on economics and the theory of exploitation based on his theory of surplus value. Marxism, however, developed in the opposite direction. After Marx's economic doctrine became vulnerable to powerful objections, Marxists tried to find a refuge in his early philosophical writings and in this way avoid refutation. Ultimately this attempt proved unsuccessful too.

At first blush, values such as diversity appear to be worth striving for. The question is whether or not such values—which have become increasingly prevalent in university mission statements—are values as such, which is to ask whether they are things of moral worth (Value, n.d.), or are something else altogether. My unpopular suspicion leans toward the latter. Personal opinions, of course, are hardly a justification for an impassioned critique, however, my opinions mirror those held by moderate and conservative witnesses to (...) the sociopolitical climate of academia (Pew Research Center, 2017) as well as individuals who would typically be considered classically liberal such as Peter Boghossian (2021). Because of this concordance and in order to understand the constitutive relations of academic production, it becomes necessary to critically examine the nature of institutional values, separate from polemical rhetoric that either seeks to construct a "straw man" of them in order to lay them low or insulate them from outside reproach altogether Since "diversity" seems to be the chief concern among interested groups both in the academic setting and the world at large, this article's point of access to the relations of production in academia will be anchored by a Marxian assessment of diversity as a product of social labour in the academic environment. (shrink)

There is traditionally a division of labor between economics and economic history, the task of economic history being that of studying the evolving constraints of economic mechanisms. Recent theorizing on endogenous structural change challenges this view: if structural change is endogenous to economic mechanisms, any strict division of labor between causal analysis and structural analysis breaks down. Rather such views call for an integration of causal and structural analysis. This paper looks for such a methodology, noting especially the contributions (...) made by two Swedish economists, Johan Åkerman (1896-1982) and Erik Dahmén (1916-2005). With evolutionary, Marxian, Hayekian and critical realist contributions, the paper examines notions of endogenous structural change with the aim of expounding how the notion can be thought in terms of underlying mechanisms to aid such structural analysis. The findings of endogenous mechanisms underlying structural change are crystallized into a mathematical model and a simple methodological framework. (shrink)

Online technologies enable vast amounts of data to outlive their producers online, thereby giving rise to a new, digital form of afterlife presence. Although researchers have begun investigating the nature of such presence, academic literature has until now failed to acknowledge the role of commercial interests in shaping it. The goal of this paper is to analyse what those interests are and what ethical consequences they may have. This goal is pursued in three steps. First, we introduce the concept of (...) the Digital Afterlife Industry, and define it as an object of study. Second, we identify the politico-economic interests of the DAI. For this purpose, we develop an analytical approach based on an informational interpretation of Marxian economics. Third, we explain the practical manifestations of the interests using four real life cases. The findings expose the incentives of the DAI to alter what is referred to as the “informational bodies” of the dead, which in turn is to be seen as a violation of the principle of human dignity. To prevent such consequences, we argue that the ethical conventions that guide trade with remains of organic bodies may serve as a good model for future regulation of DAI. (shrink)

GILBERT JEAN FACCARELLO (Paris, 1950) is professor of economics at Université Panthéon-Assas, Paris, and a member of the Triangle research centre (École Normale Supérieure de Lyon and CNRS). He is presently chair of the ESHET Council (European Society for the History of Economic Thought). He completed his doctoral research in economics at Université de Paris X Nanterre. He has previously taught at the Université de Paris-Dauphine, Université du Maine and École Normale Supérieure de Fontenay/Saint-Cloud (now École Normale Supérieure (...) de Lyon). He is a co-founder of The European Journal of the History of Economic Thought, which he co-edited for 20 years with J. L. Cardoso, Heinz D. Kurz, and A. Murphy. With Alain Béraud, he edited the Nouvelle histoire de la pensée économique (La Découverte, 3 volumes, 1992-2000) and, together with Heinz D. Kurz, he is presently editing a Handbook of the History of Economic Analysis (3 volumes, forthcoming with Edward Elgar). -/- EJPE interviewed Gilbert Faccarello about his research career in the history of economic thought, where he has focused especially on old and new classical and Marxian political economy, and French political economy during the 18th and 19th centuries. G. Faccarello discusses his interest not only in the logical structure and context of the economic ideas of past thinkers but also the links between economic thought, philosophy, and religion. (shrink)

The unresolved dilemma of Marxian theory is whether the overall social constellation may legitimately be called 'mode of production' because mono-causal economic explanations are acceptable or whether there is instead a more complex causality at the level of the 'ökonomische Gesellschaftsformation', i.e. the social constellation as a whole.

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 book is a personal answer to the crisis of the left. The author of this text belongs to a generation habituated to live with global explanations. During our youth, the future of the world was the future of democracy and socialism. We belong to a generation of “leftist” that found in Marx and Freud, phenomenology and structuralism the most important answers that made sense of the everyday world. However, the developments of events during the last sixty years showed that (...) our confidence was ungrounded. The depreciation of the theoretical thought accelerated in direct proportion to the development of technologies, and among them the impact of the digital developments was devastating. One of the most notable consequences of the digitalization of culture was the depreciation of the Marxian thought, but also the less recognized depreciation of all kinds of political-economic thought. The collapse of the world created before the Second World War open for the end of the “grand narratives” and the enthronization of Postmodernism. The production of fragmentary explanations took over the historical perspective with an important influence on social and economic thought. After 60 years of postmodern thinking, we believe that the time of Postmodernism is over. Politicians and economists over the world cannot continue to produce results in small packages. The whole picture must be restituted. Of course it must be done incorporating the lessons of the past to avoid to make the same mistakes. Postmodernism has left behind lots of scattered modernist philosophical remnants. It left a chessboard with only few pieces to work with, and in this allegory, only as references. The philosophical schools remains, but the study of them is strictly for an education in the history of ideas. The situation is aggravating since the most important works from the 1960’s and forth, (post-structuralists) deliberately have avoided obvious identity patterns. A word in Rio de la Plata’s jargon language describes this situation, cambalache, a sort of “flea market” where everything lies higgledy-piggledy. Deconstruction and the focus on differences are vital to Postmodernism. Remaining is therefore the intersections, the contrasts, shadows, and sketches. When trying to orient in such an intellectual environment, the task reminds of patching scatterings, and building with tools of eclecticism. However, we believe that is time to reconstruct instead of deconstruct, moving back to Modernism that we will describe as Cyborgism. (shrink)

The core idea of A Relational Theory of Justice is that normative political and legal philosophy should be grounded on people’s relational features, in particular their ability to commune with others and be communed with by them. Usually, philosophers of justice in the West have based their views on people’s intrinsic features, ones that make no essential reference to others, such as their autonomy, self-ownership, or well-being. In addition, often critics of basing politics and law on justice, whether in the (...) African, feminist/care, Marxian, or Confucian traditions, have appealed to non-intrinsic values as leverage, roughly contending that relationships are more important than justice. In contrast to both major camps, this book articulates and defends accounts of justice based on the dignity of people’s relational nature. A proper valuation of people’s capacity to be party to communal relationships does not transcend categories of justice, but instead calls for certain sorts that differ in plausible ways from those grounded on intrinsic properties. Applications are discussed in the contexts of political, economic, compensatory, criminal, transitional, and global justice. Available for download is the Table of Contents. (shrink)

The post-Marxist stance against class politics unearths significant political demands often neglected by Marxism. However, in Ernesto Laclau and Chantal Mouffe’s approach, this step forward is followed by two steps back. They deny that class struggle against capitalist exploitation has any political significance for the masses or any essential link with the socialist-democratic project. But they do so at the cost of misrepresenting Marxian theory and underestimating the global phenomenon of labour exploitation. This faux pas is due to two (...) misconceptions at the core of the Laclau-Mouffean critique: an ambiguity in the use they make of the economic concept of surplus, and an incorrect identification of working-class and productive workers. With Laclau and Mouffe, I share the firm conviction in the necessity of a post-Marxian theory. Nevertheless, post-Marxism will be just as robust as our Marxist bedrocks. (shrink)

The aim of this book is to explain economic dualism in the history of modern Europe. The emergence of the manorial-serf economy in the Bohemia, Poland, and Hungary in the 16th and the 17th centuries was the result of a cumulative impact of various circumstantial factors. The weakness of cities in Central Europe disturbed the social balance – so characteristic for Western-European societies – between burghers and the nobility. The political dominance of the nobility hampered the development of cities and (...) limited the influence of burghers, paving the way to the rise of serfdom and manorial farms. These processes were accompanied by increased demand for agricultural products in Western Europe. (shrink)

Capital Redefined presents a unique perspective on the nature of “capital,” departing from the prevailing reductionist accounts. Hosseini and Gills offer an expanded perspective on Marxian value theory by addressing its main limitations and building their own integrative value theory. They argue that the current understanding of “value” must be re-examined and liberated from its subservient ties to capital while acknowledging the ways in which capital appropriates value. This is achieved by differentiating between “fetish value” created by capital and (...) “true value” generated through various commons-based forms of coexistence. The authors propose a defetishization of value by rejecting the commonly accepted idea of its objectivity. They introduce their “commonist value theory,” which redefines capital as both the product and process of perverting the fundamental commoning causes of true value into sources of fetish value. Capital is theorized through a “modular” framework, where multiple intersecting processes constitute a comprehensive power structure, a “value regime,” representing an unprecedented degree of the domination of capital over life. Their theory reconciles two apparently incompatible views on the notion of value. One view encompasses all inputs involved in capitalist value production and conflates intrinsic and commodity values. The other warns against this conflation as it treats capital as an entity tightly associated only with commodity production and wage labor. The authors believe that establishing alternative forms of value creation based on normative principles of living in commons is crucial as an analytical base for criticizing existing power structures and economic systems. The book offers a theoretical foundation for transforming our life worlds toward “post-capitalist” futures. It appeals to scholars and students in various fields, such as political economy, capitalism, and post-capitalist studies, economic and political sociology, globalization, development studies, social ecology, and ecological philosophy. The Open Access version of this book, available at taylorfrancis com, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives (CC-BY-NC-ND) 4.0 license. (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.

The authors of this book reconstruct the philosophical, methodological and theoretical assumptions of non-Marxian historical materialism, a theory of historical process authored by Leszek Nowak (1943-2009), a co-founder of the Poznań School of Methodology. In the first part of the book, philosophical assumptions of this theory are compared with the concepts of Robert Nozick, Immanuel Wallerstein, André Gunder Frank and analytical Marxism. In the second part, non-Marxian historical materialism is compared with the concepts of Eva Etzioni-Halevy, Andrzej Falkiewicz, (...) Robert Michels, Vilfredo Pareto, Theda Skocpol and Karl August Wittfogel. (shrink)

This paper offers an account of human dignity based on a discussion of Kant's moral and political philosophy and then shows its relevance for articulating and developing in a fresh way some normative dimensions of Marx’s critique of capitalism as involving exploitation, domination, and alienation, and the view of socialism as involving a combination of freedom and solidarity. What is advanced here is not Kant’s own conception of dignity, but an account that partly builds on that conception and partly criticizes (...) it. The same is the case with the account of socialism in relation to Marx’s work. As articulated, Kantian dignity and Marxian socialism turn out to be quite appealing and mutually supportive. (shrink)

Both Theodor Adorno and Walter Benjamin borrow from Freudian theory in their analyses of fetishism’s relation to the contemporary reception of cultural products. I will argue that both authors have confused the Marxian and Freudian theories of fetishism, resulting in mistaken conclusions about artistic reception. By disentangling the Marxian and Freudian elements in both authors’ positions, I want to show that 1) Adorno’s characterization of regressive listening implies, contrary to his intentions, that the current reception of artwork is (...) in fact antagonistic to fetishism, and that 2) his criticism of Benjamin’s optimism toward “reception in distraction” is nevertheless justified. If I am correct, it may be necessary to reassess Adorno’s demand for asceticism in advanced art. The current danger may not be “fetishism” at all, but rather the troublesome consequences of fetishism’s decline. (shrink)

The purpose of this paper is discuss an application of non-Marxian historical materalism to explanation of non-European societies. Until now this theory has been limited to interpretation of European societies. In order to grasp development of non-European societies (e.gr. Mexico) the extension of typology of societies is proposed which constitutes a new scientific programme based on this theory of historical development.

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)

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)

The first part of this book contains a selection of Leszek Nowak’s (1943-2009) works on non-Marxian historical materialism, which are published here in English for the first time. In these papers, Nowak constructs a dynamic model of religious community, reconstructs historiosophical assumptions of liberalism and considers the methodological status of prognosis of totalitarization of capitalist society. In the second part of the book, new contributions to non-Marxian historical materialism are presented. Their authors analyze mechanisms of the oligarchization of (...) liberal democracy, the democratization of real socialism, and the development of early modern Ottoman and post-war Chinese societies. The volume will be of interest to graduate and undergraduate students, as well as specialists who deal with the development of capitalist society, philosophy of history, the philosophy of social sciences and the political philosophy of liberalism. (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)

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)

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)

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)

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)

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)

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)

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)

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)

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)

The aim of this article is to outline the theory of a historical process developed within the framework of the Poznań School of Methodology, mainly by Leszek Nowak and a team of his co-workers. In the first part of the paper, the meta-philosophical and meta-theoretical assumptions of Poznań school are reconstructed and juxtaposed with the relevant assumptions of Western analytical Marxism. In the central part of the paper, the main ideas of adaptive reconstruction of historical materialism and non-Marxian historical (...) materialism are presented. In its final part, some problems of reception of Leszek Nowak’s theory of historical process in Polish People’s Republic and the Third Republic are discussed. (shrink)

The essay proceeds from the assumptions that for a economic/political integration group to succeed, first, its participants’ motives should ideally be as alike as possible and not oppose one another and, second, their expectations from integration should correspond to the organisation’s capabilities. In light of these assumptions, the study endeavours to assess the Eurasian Economic Union’s (EAEU) potential for stability and development. First, the author analyses the key motives that were driving its member states’ decisions to enter the organisation, compares (...) them with one another and discusses how the countries’ motives influence their conduct in the union. Second, the author confronts those motives against the EAEU’s activities and the general logic of interstate politics on the post-Soviet space to reckon up whether the bloc’s capabilities fit with the expectations of its member countries. Finally, based on that discussion, the author speculates on how the divergence/convergence of EAEU member states’ goals, as well as the (in-)feasibility of their expectations, affect the organisation’s development. (shrink)

One core question in contemporary political economy is whether economic liberties should be constitutionally protected as basic rights. In this article I do not provide a positive argument for the view that economic liberties are basic rights. Rather, I seek to provide a reason for not embracing the opposing view, i.e. that economic liberties should not be constitutionally protected as basic rights. Based on Hayek’s theory of price as signal, I argue that price control, a view usually associated with high (...) liberals, and sometimes endorsed by moderate welfarists, is environmentally sub-optimal. (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)

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.

This research aims at establishing the impact of information and communication technologies (ICT) on e-commerce development of industrial enterprises by means of economic and mathematical modelling. The goal was achieved using the following methods: theoretical generalization, analysis and synthesis (to critically analyse the scientific approaches of scientists regarding the expediency of using mathematical models in the context of enterprises’ e-commerce development), target, comparison and grouping (to reveal innovative methodological approach to assessing ICT impact on e-commerce development of industrial enterprises), tabular, (...) analytical and integral method (for summarizing the analysis results of enterprises readiness to implement ICT, ICT use in the activities of industrial enterprises of Ukraine and the analysis of e-commerce development), mathematical modelling (to build a regression model determining impact of changes in ICT use on the market share occupied by industrial enterprises), generalization (to determine promising directions of e-commerce developing of industrial enterprises). The implementation of a comprehensive approach to understanding the importance of ICT influence on e-commerce development of industrial enterprises will ensure acceleration of the digitalization of business processes, will contribute to the speed increase of enterprises response to customer requests, and increase the market share occupied by enterprises. A new vision of directions for developing e-commerce of industrial enterprises is suggested, which are determined by the need for enterprise rebranding, the development of e-commerce tools and technologies, the importance of outsourcing service automation and promotion of subscription trade. ICT is considered as integration factor that determines prospects for e-commerce development of industrial enterprises and contributes to increasing efficiency of online business management. Research results demonstrate that the use of economic and mathematical modelling is an important tool for assessing ICT impact, and its absence can negatively affect the accuracy and validity of online business management. (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.

Mill (1872, 1874) is an early proponent of the thesis that economics has a special domain in which it can operate relatively independently of findings from other sciences. Contra Mill, I argue that this so-called separateness-thesis is best defendedunder an externalist interpretation of Rational Choice Theory (RCT). Mill’s defence is consistent with an internalist interpretation of RCT. Internalism holds that RCT depicts psychological mechanisms operating in economic agents. I argue that such a defence fails to establish separateness, because it (...) makes economics highly depended on psychological findings. However, externalism understands RCT as an adequate description of how agents react to incentives if certain environmental structures are present. Under this interpretation, we can defend separateness by investigating which features of an environmental structure will lead agents to behave in accordance with RCT. Thereby, we can derive indicators that enable us to demarcate a separate domain for economics. (shrink)

This chapter uses Uskali Mäki’s (2009) concepts of “good” and “bad” imperialism to investigate the “economics imperialism” thesis. If science expands by offering (a) consilience, and (b) epistemological and ontological unity – that is, it explains more phenomena with greater parsimony – then this is good scientific expansion. Economics imperialism is only bad if the methodology of economics expands outside its domain without increasing understanding in the above manners.

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)

The paper considers three questions. First, what is the connection between economics and agency? It is argued that causation and explanation in economics fundamentally depend on agency. So a philosophical understanding of economic explanation must be sensitive to an understanding of agency. Second, what is the connection between agency and causation? A causal view of agency-involving explanation is defended against a number of arguments from the resurgent noncausalist tradition in the literature on agency and action-explanation. If agency is (...) fundamental to economic explanation, it is argued, then so is causation. Third, what is the connection between causal explanation and the natural sciences? It is argued that, though the explanations given in economics and other social sciences are causal explanations, they are different in kind from the causal explanations of the natural sciences. On the one hand, then, the causal explanations of the social sciences are irreducible to those found in the natural sciences. On the other hand, the causal relations described by the social sciences are not completely autonomous; they do not float free of, or operate independently from, the causal relations charted by the natural sciences. (shrink)

The development of technology is unbelievably rapid. From limited local networks to high speed Internet, from crude computing machines to powerful semi-conductors, the world had changed drastically compared to just a few decades ago. In the constantly renewing process of adapting to such an unnaturally high-entropy setting, innovations as well as entirely new concepts, were often born. In the business world, one such phenomenon was the creation of a new type of entrepreneurship. This paper proposes a new academic discipline of (...) computational entrepreneurship, which centers on: (i) an exponentially growing (and less expensive) computing power, to the extent that almost everybody in a modern society can own and use that; (ii) omnipresent high-speed Internet connectivity, wired or wireless, representing our modern day’s economic connectomics; (iii) growing concern of exploiting “serendipity” for a strategic commercial advantage; and (iv) growing capabilities of lay people in performing calculations for their informed decisions in taking fast-moving entrepreneurial opportunities. Computational entrepreneurship has slowly become a new mode of operation for business ventures and will likely bring the academic discipline of entrepreneurship back to mainstream economics. (shrink)

This paper addresses ways of arguing fors ome form of economic democracy from within a broadly Rawlsian framework. Firstly, one can argue that a right to participate in economic decision-making should be added to the Rawlsian list of basic liberties, protected by the first principle of justice. Secondly,I argue that a society which institutes forms of economic democracy will be more likely to preserve a stable and just basic structure over time, by virtue of the effects of economic democratization on (...) the development of an active, democratic character among citizens. Thirdly, I argue that a proper understanding of the demands of the difference principle shows that justice demands more than ex post redistribution, but also requires the ex ante redistribution of power and authority in economic life. This connects to Rawls’s discussion of the badness of inequality, and to his endorsement of a “property-owning democracy”. -/- My conclusion is that, even if we may doubt the success of this first Rawlsian argument,the second and third arguments are both successful, and together establish a strong Rawlsian case forseeing economic democratization as a requirement of justice. (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)

In the context of the digital economy development, the priority component of the economic security of an enterprise is changing from material to digital, constituting an independent element of enterprise security. The relevance of the present research is driven by the need to solve the issue of modernizing the economic security of the enterprise taking into account the new risks and opportunities of digitalization. The purpose of the academic paper lies in identifying the features of preventing internal and external negative (...) influences (threats) in order to guarantee the effective and stable functioning and dynamic social development of the enterprise in the context of digitalization. The research methods are as follows: general scientific research methods, in particular, logical analysis, theoretical substantiation, methods of induction and deduction, formalization and generalization, statistical observation. Results. It has been proposed to introduce the concept of “digital security of the enterprise” for replacing the concept of “information component of economic security” in order to bring the terminology in line with new economic realities. The implementation of the “black box” model has made it possible to identify the latest risks and threats to the economic security of an enterprise within the conditions of the digitalization that differs from the existing ones. The assessment of enterprises’ digital security of the European Union member states has revealed that the digital security level does not depend on the size of the country, however, it is influenced by the institutional environment (in particular, digital development tools in the EU) and the size of enterprises. Also, within the research framework, an assessment of the digital security level of enterprises in the context of digitalization has been proposed. In order to characterize enterprises by the level of digital security, a calculation procedure using the coefficient method has been proposed. (shrink)

The democratic boundary problem raises the question of who has democratic participation rights in a given polity and why. One possible solution to this problem is the all-affected principle, according to which a polity ought to enfranchise all persons whose interests are affected by the polity’s decisions in a morally significant way. While AAP offers a plausible principle of democratic enfranchisement, its supporters have so far not paid sufficient attention to economic participation rights. I argue that if one commits oneself (...) to AAP, one must also commit oneself to the view that political participation rights are not necessarily the only, and not necessarily the best, way to protect morally weighty interests. I also argue that economic participation rights raise important worries about democratic accountability, which is why their exercise must be constrained by a number of moral duties. (shrink)

The article gives a definition of the technical and economic potential of the application of the deforming broaching process. Research of the consequences of introducing deforming broaching into technological processes at manufacturing enterprises is carried out on the basis of application of system resource and matrix approach. On the basis of the performed researches, a methodological basis for the economic evaluation of the results of applying deforming broaching on the pro-duction has been developed. The article has improved the well-known scientific (...) and methodological foundations for the determination of technical and economic results of the application of deforming broaching due to the complex identifica-tion of production-organizational decisions - in technical and forms of evaluation in economic spheres. The developed approach gives an opportunity to more accu-rately assess the economic effect of introducing deforming broaching on the min-ing, metallurgical and machine building industries. It can be used to assess the economic effect of introducing other process parts processing. (shrink)