This paper explores the implications of empirical theories of migration for normative accounts of migration and distributive justice. It examines neo-classical economics, world-systems theory, dual labor market theory, and feminist approaches to migration and contends that neo-classical economic theory in isolation provides an inadequate understanding of migration. Other theories provide a fuller account of how national and global economic, political, and social institutions cause and shape migration flows by actively affecting people's opportunity sets in source countries and (...) by admitting people according to social categories such as class and gender. These empirical theories reveal the causal impact of institutions regulating migration and clarify moral obligations frequently overlooked by normative theorists. (shrink)

Sumantra Ghoshal’s condemnation of “bad management theories” that were “destroying good management practices” has not lost any of its salience, after a decade. Management theories anchored in agency theory (and neo-classical economics generally) continue to abet the financialization of society and undermine the functioning of business. An alternative approach (drawn from a more classic institutional, new ecological, and refocused ethical approaches) is reviewed.

This article critically discusses the concept of economic rationality, arguing that it is too narrow and specific to encompass the full concept of practical rationality. Economic rationality is identified here with the use of the optimizing model of decision, as well as of expected utility apparatus to deal with uncertainty. To argue that practical rationality is broader than economic rationality, the article claims that practical rationality includes bounded rationality as a particular case, and that bounded rationality cannot be reduced to (...) economic rationality as defined here. (shrink)

Liberal thought (in the sense of classical liberalism) is based on the juxtaposition of consent to coercion. Autocracy and slavery were seen as based on coercion whereas today's political democracy and economic 'employment system' are based on consent to voluntary contracts. This paper retrieves an almost forgotten dark side of contractarian thought that based autocracy and slavery on explicit or implicit voluntary contracts. To answer these 'best case' arguments for slavery and autocracy, the democratic and abolitionist movements forged arguments (...) not simply in favour of consent, but arguments that voluntary contracts to legally alienate aspects of personhood were invalid 'even with consent' – which made the underlying rights inherently inalienable. Once understood, those arguments have the perhaps 'unintended consequence' of making the neo-abolitionist case for ruling out today's self-rental contract, the employer-employee contract. The paper has to also retrieve these inalienable rights arguments since they have been largely lost on the Left, not to mention in liberal thought. (shrink)

It is difficult to advance a point beyond what Keynes himself commented about his own vision in The General Theory of Employment, Interest and Money in 1936 (hereafter TGT) in its Chapter 24. It is also difficult to express a deeper thought than what Skidelsky wrote about Chapter 24 of TGT (cf. Skidelsky, 1997). The purpose of this article is to identify whether Chapter 24 of TGT is the gist of Keynes’s legacy, having set the foundations of macroeconomics in the (...) previous 23 Chapters. Relevant topics included in Chapter 24 are the consequences of full employment, the fate of income distribution, the future of overall wealth, the socialization of investment, saving, expectations, the role of the State in economies, the future of financial markets and the interaction between economics and other disciplines. Indeed this Chapter displays Keynes’s genius as a social philosopher, following the tradition of The Economics Possibilities for our Grandchildren (1930). In Chapter 24 he was taking a glance at his product as did Phillip II when he was observing the construction of his castle El Escorial in XVII Spain. Within his vision, is this piece of work a justification of capitalism? Keynes sees the State as both the spender and the employer of last resort, thereby proposing a new role for the government (Skidelsky, 1998). He also suggests a new role for the private sector and reconsiders the interrelation between the two sectors. He is fully optimistic about this issue, which he considers as evolutionary. In addition, Keynes blurs the distinction between economics and sociology, advancing new interdisciplinary hints in his thinking. Keynes is also concerned on the epistemological role of assumptions in order to obtain defensible conclusions. Thereafter the British economist proposes new methods. He was a neo-realist and was against the inductive method. In addition, it can be stated that TGT is grounded on new psychological laws and motivations, that is, on a new vision of humankind, especially the analyzed chapter. His topics are the bypassing of Classical Economics; the destiny of macroeconomics in both theoretical and policy terms, highlighting new roles for interest rates; savers and rentiers; and the relevance of the concepts of ideas, interests and power. In all these respects Keynes is once again far ahead of his time. Finally a debatable topic dealt with by Keynes in Chapter 24 of TGT is 1 PhD in Economics, Lancaster University, UK; Professor-researcher at ISEC Universidad de Negocios, Mexico City. socialisation of investment. This is in words of Skidelsky, a shift in the balance of social power. Keynes is thus in Chapter 24 of TGT a visionary and an idealist, a reformer, and certainly a trans-generational thinker. When he talks about the passion of thriftiness and the setting of reasonable financial rewards arising from financial instruments he is advancing explications for financial crises in terms of speculation. The open conclusion is that Chapter 24 contains the gist of Keynes’s mature philosophical thinking and legacy, confirming that for him attitudes are one of the most relevant issues in life. In addition, he considers that both social and psychological elements are necessary for a thorough understanding of economic issues and their consequences, such as peace and happiness. Section 1 is an introduction. Section 2 is both a literature review and a summary of Keynes’s general philosophical insights. Section 3 is an analysis of Chapter 24 of TGT in the specific fields of Epistemology, Ethics, Ontology, and Political and Social Philosophy. Section 4 is a conclusion. References are listed at the end of the article. (shrink)

Istvan Hont’s classic work on the theoretical links between the seventeenth-century natural jurists Hugo Grotius and Samuel Pufendorf and the eighteenth-century Scottish political economists remains a popular trope among intellectual and economic historians of various stamps. Despite this, a common criticism levelled at Hont remains his relative lack of engagement with the relationship between religion and economics in the early modern period. This paper challenges this aspect of Hont’s narrative by drawing attention to an alternative, albeit complementary, assessment of (...) the natural jurisprudential heritage of eighteenth-century British political economy. Specifically, the article attempts to map on to Hont’s thesis the Christian Stoic interpretation of Grotius and Pufendorf which has gained greater currency in recent years. In doing so, the paper argues that Grotius and Pufendorf’s contributions to the ‘unsocial sociability’ debate do not necessarily lead directly to the Scottish school of political economists, as is commonly assumed. Instead, it contends that a reconsideration of Grotius and Pufendorf as neo-Stoic theorists, particularly via scrutiny of their respective adaptations of the traditional Stoic theory of oikeiosis, steers us towards the heart of the early English ‘clerical’ Enlightenment. (shrink)

The article discusses Friedman's classic claim that economics can be based on irrealistic assumptions. It exploits Samuelson's distinction between two "F-twists" (that is, "it is an advantage for an economic theory to use irrealistic assumptions" vs "the more irrealistic the assumptions, the better the economic theory"), as well as Nagel's distinction between three philosophy-of-science construals of the basic claim. On examination, only one of Nagel's construals seems promising enough. It involves the neo-positivistic distinction between theoretical and non-theoretical ("observable") terms; (...) so Friedman would in some sense argue for the major role of theoretical terms in economics. The paper uses a model-theoretic apparatus to refine the selected construal and check whether it can be made to support the claim. This inquiry leads to essentially negative results for both F-twists, and the final conclusion is that they are left unsupported. (shrink)

This article aims to provide a metaphysical elucidation of the notion of Theism and a coherent theological synthesis of two extensions of this notion: Classical Theism and Neo-Classical Theism. A model of this notion and its extensions is formulated within the ontological pluralism framework of Kris McDaniel and Jason Turner, and the (modified) modal realism framework of David Lewis, which enables it to be explicated clearly and consistently, and two often raised objections against the elements of this notion (...) can be successfully answered. (shrink)

Historically, republicans were of different minds about markets: some, such as Rousseau, reviled them, while others, like Adam Smith, praised them. The recent republican resurgence has revived this issue. Classical liberals such as Gerald Gaus contend that neo-republicanism is inherently hostile to markets, while neo-republicans like Richard Dagger and Philip Pettit reject this characterization—though with less enthusiasm than one might expect. I argue here that the right republican attitude toward competitive markets is celebratory rather than acquiescent and that republicanism (...) demands such markets for the same reason it requires the rule of law: because both are essential institutions for protecting individuals from arbitrary interference. I reveal how competition restrains—and in the limit, even eradicates—market power and thereby helps us realize “market freedom,” i.e., freedom as non-domination in the context of economic exchange. Finally, I show that such freedom necessitates “Anglo-Nordic” economic policies. (shrink)

1 Introduction1 In the 1980s, hermeneutics was often incorporated into deconstructionism and literary theory. Rather than focus on authorial intentions, the nature of writing itself including codes used to construct meaning, socio-economic contexts and inequalities of power,2 Gadamer introduced a different perspective; the interplay between effects of history on a reader’s understanding and the tradition(s) handed down in writing. This interplay in which a reader’s prejudices are called into question and modified by the text in a fusion of understanding and (...) topic revitalized the study of the printed word. Gadamer’s turn to language for understanding the meaning of Being also appealed to the post-modern antipathy toward modernity and metaphysics.3 If the truth and validity of interpretations are limited to communities of language, then our mode of being in history cannot but be historical. This point of view rendered Gadamer’s phenomenological hermeneutics vulnerable to the critique of moral and epistemological relativism. However, Gadamer’s theory of interpretation also stems from re-examination of the beginning of knowledge in the Pre-Socratics and Plato, and on this basis, is receptive to another dimension of inquiry than that which was trending in North America. -/- At the East-West Center, University of Hawai’i at Manoa in 1982, Chung-ying Cheng for the first time introduced onto-hermeneutics to an audience of esteemed philosophers including Li Zehou, Ren Jiyu, Feng Youlan, and Zhang Liwen.4 In contrast to schools of deconstruction and literary theory that had disengaged the interpreter from trans-historical sources of meaning and truth, Cheng explained that interpreters exist within a cosmological order inextricable from responsibility to harmonize Heaven and Earth in creative acts of interpretation. By integrating Chinese cosmology into hermeneutics through ontology, he tacitly challenged philosophers in the West to re-examine assumptions about humanity’s place in nature and by implication, Gadamer’s recovery of the beginnings of knowledge in Western philosophy. -/- Cheng’s Neo-Confucianism is inspired by the method and goals of Thomé H. Fang. The following words by Fang seem to prefigure, although in an indistinct and bundled way, aspects of Cheng’s philosophy including a Mencian theory of human nature, comprehensive observation, and creativity: “In the very process of living in concord with creative Nature, Man is charged with an ideal to be fully realized in the light of the principle of comprehensive harmony.”5 Like Fang, Cheng reinvigorates Chinese culture and language, but not solely in order to vindicate the insights of Neo-Confucianism. He has studied Western thought, from pragmatism and the analytic school to German idealism and phenomenology, to unlock and clarify philosophical concepts within the Yijing tradition and thereby render them intelligible to Anglophones. The result has been an awakening of Western scholars to the moral and cultural consequences of decoupling their thought from metaphysical foundations that are neither dogmatic nor doctrinal. -/- Not unlike the dialectic of Gadamer’s dialogue form, onto-generative hermeneutics integrates contrary positions on the same topic in order to blend both sides into a world philosophy, or as Cheng says, a “totalizing or integrative theory,”6 not to be confused with a theoretical rewording of a theory. On the contrary, the universal scope and relevance of hermeneutics stems from personal experience. Just as Gadamer, in response to faction and strife, immersed himself in Plato during the war years, and developed a method with which to harmonize opposites, so too, according to On-cho Ng, was Cheng moved by faction, strife and political persecution to develop a path toward unity.7 Gadamer taught at McMaster University in Hamilton, Ontario, and Cheng at the University of Hawai’i at Manoa among other institutions in North America. They facilitated trans-continental educational and cultural ties. Similar experiences yield similar insights irrespective of differences of time and place. Hence, authors in this issue who reside in Europe, China and North America, delineate the differences between Gadamer and Cheng, yet also, in light of Cheng’s onto-generative method and cosmology, develop integrative theories. Due to the page-budget restriction of the publisher, certain articles of this special theme will be subsequently published in the next issue. -/- 2 Integrative Theory This special issue of The Journal of Chinese Philosophy confirms a dimension of hermeneutics that Cheng has both motivated and inspired. The contributors do not abide by the conviction that since thought is mediated by language, interpretations cannot transcend culture. On the contrary, their research exemplifies the fruits of trans-historical onto-dialogical hermeneutics within limits defined by their field inquiry, organized into Parts I and II, around three themes: language, the philosophy of history and ethics. -/- Andrew Fuyarchuk introduces the theme of ontology in relation to Gadamer’s turn to language. Fuyarchuk argues that Chung-ying Cheng’s criticism of Gadamer’s hermeneutics is informed by Heidegger’s concept of Dasein and thereby overlooks how Gadamer’s Platonic-Pythagorean problem of the division between the One and Many is harmonized in the event of language, which in turn positions Gadamer in proximity to the presupposed grounds of receptivity in Cheng’s onto-generative hermeneutics. Lauren Pfister’s contributing article addresses the year 2000 meeting between Cheng and Gadamer in Heidelberg and expands the transhistorical grounds of meaning in Gadamer to matters of theology. Pfister’s summary of the written Chinese record of their conversation indicates that Cheng does not address the role of Christian philosophy and hence, the role of the inner word in Gadamer’s hermeneutics. This is important not only for detecting changes in Cheng’s philosophical development, but also for modifying his hermeneutics along the lines of a living conversation, possibilities explored by Pfister in a sequel to the article submitted to this issue. Nevertheless, by raising the issue of how Gadamer’s turn to language for understanding the meaning of Being extends possibilities in Cheng’s thought, Pfister anticipates the article by Katarina Gajdosova. She returns to the roots of Chinese thought during the Warring States period and broadens the meaning of names in recently excavated texts. Contrary to the conventions about how to understand terms, she appeals to both Heidegger’s ontology and Cheng’s notion of receptivity and creativity to reinterpret naming in relation to cosmology. Along the same lines, insofar as the event of Being is lingual, Jay Goulding captures its emergent structure in an evolving community of scholars and scholarship. He recalls his philosophical journey toward Cheng’s philosophy that begins in conversations with Gadamer at McMaster University in Hamilton, leads to Heidegger and Asian thought, expands into turning points with teachers and colleagues from various backgrounds that by increments contributed to Goulding’s formulation of “Daoist phenomenology.” -/- Although differing traditions guide their inquiries and research, Cheng and Gadamer recall the wisdom of the past to ameliorate the fragmentation in contemporary life. This leads them to re-examine the origins of philosophy; historical roots and thus sources of creative re-interpretations East and West whose affinities are developed in contributions by Hyun Höchsmann and Friederike Assandri. Höchsmann assesses convergences and divergences in the origins of Chinese and Western philosophy (Confucius and Socrates, the Yijing and Pre-Socratics) that culminates in pairing Gadamer’s understanding of paideia in the context of Plato’s political cosmology in the Timaeus with moral and social cultivation in The Western Inscription. She delineates the limits of this comparison which in turn justifies introducing Vattimo’s notion of locality. Assandri’s comparative analysis moves between India and China, Buddhism and Tang Daoism. Based on Gadamer’s argument that writing detaches concepts from their cultural moorings, she defines and applies three levels of understanding in onto-generative hermeneutics to Buddhist terms that were assimilated into the Benji Jing and in so doing clarifies essential dimensions of Daoism. -/- Contributions by Stephen Palmquist and Nicholas Brasovan position Cheng in relation to Kant and Gadamer by way of Aristotle’s ethics respectively. On the one hand, Palmquist plots Cheng’s evolving criticism of Kant’s moral philosophy and draws on crucial dimensions of Gadamer’s hermeneutics to reposition that criticism in a constructive relation to Kant’s emphasis on the philosophical conditions of morality while also indicating how religious dimensions of his thought answer Cheng’s concerns for lived moral action. For Palmquist, Gadamer enables a constructive criticism of Cheng. On the other hand, Brasovan compares Cheng’s Yijing-based account of moral deliberation with Gadamer’s Aristotelian-based ethics and reasons that in contrast to Cheng, Gadamer’s hermeneutical consciousness is disengaged from practical knowledge. For Brasovan, Cheng is a constructive critic of Gadamer. Palmquist and Brasovan’s divergent angles on Gadamer and Cheng map onto a dialectic of contrast and complementarity that constitutes the inner logic of Cheng’s philosophy. In other words, Gadamer and Cheng ought to be read alongside one another for the sake of removing discrepancies and contradictions, which constitutes the organic structure of their thinking. -/- 3 Our Mode of Being in History Is Not Historical The conversations between Cheng and Gadamer in this issue of The Journal of Chinese Philosophy pivot on language, philosophy of history and ethics within a comparative framework of analysis, but also explore the grounds that make the comparisons possible. Those grounds are informed by Chinese cosmology, and function to wrest Gadamer from the shadow of Heideggerian facticity and reposition him within the range of Cheng’s ideas about our place in nature that is embedded in his question about how mind emerges from inorganic matter.8 -/- For Gadamer scholars of Heidegger, human finitude, our ownmost individuating death ensures that hermeneutics is always open to the other as other, always on the way toward understanding the meaning of Being. To arrest the process in a concept of “the Absolute” cannot but represent someone’s point of view, and thereby render hermeneutics indistinguishable from ideology. However, insofar as finitude is defined by them in terms of an onto-theological concept of immorality, finitude is a metaphysical concept consistent with epistemologies and confuse beings with the meaning of Being. As a result, the celebrated political value of hermeneutics to always be on the way toward an understanding of the meaning of Being admits subtle variations on the same worldview that are insufficiently self-critical. -/- Gadamer scholars of Heidegger are right. A transformation in ethos and opening to the meaning of Being depends on awareness of finitude. Yet this awareness does not yield openness to more of the same, i.e., discourse structurally incapable of coming to unity but instead, for both Gadamer and Cheng, openness to a distinctly different ontological dimension of reality. As Sandra Wawrytko and So-Seong Park indicate,9 this ontological dimension is prefigured in the experience of being-as-a-whole or the totality of all possible relations in both Chinese totemic shamanistic rituals,10 and Greek Dionysian festivals.11 Through these religious experiences human ethos and therefore consciousness is expanded and elevated from being centered on one’s ownmost concerns toward an affinity with all sentient beings from insects and plants to animals. The channel for this affinity is an auditory disposition and hence, the emotions, compassion, and feeling response. -/- The capacity for an auditory disposition, or as Gadamer calls it, listening consciousness to respond to the inter-relationality and therefore inherent balance of nature is developed through music, song and dance of the religious rituals and festivals. They facilitate the unity of mind with nature. This use of music, that transforms ordinary consciousness, explains Cheng’s emphasis on the receptivity of feeling response in comprehensive observation, and Gadamer’s emphasis on openness to the other in attunement. However, an auditory disposition characteristic of pre-literate oral cultures that reveals the “All” need not rely on religion. As theorists about the evolution of language have explained,12 modern languages preserve their pre-historical past in music or prosody. That is to say, the song and dance that revealed the totality of inter-related beings to an ethos of comprehensive observation and attunement toward beings in classical civilizations is retained in the back-and-forth movement or rhythm of the dialogue form. Our mode of being in history is a mode of being in nature – through the music of language. -/- While alerting the reader to the limits of a nominalist interpretation, Gadamer expresses the inner law of the nature as follows: “in perishing there is always becoming, and in becoming there is always perishing.”13 Considered in process, opposites generate and blend into each other. This law of nature applies to everything.14 Hence, in a manner comparable to Pfister’s concluding insights, onto-dialogical hermeneutics is not only open to discrete events of otherness but moreover, to the moving structure of reality expressed, as Gajdosova suggests, in the existential moment of naming. Considered as interplay of tension and resolution with a life of its own, the dialectic of a dialogue is self-similar to the way in which an organism grows (by instinct). There is, therefore, a sense in which the art of interpretation extends the human mind into the eternal cycles of nature such that we participate in the articulation of the inner telos/homeostasis toward which all beings strive and importantly for Gadamer scholars of Heidegger, within the material limits of energy to which our embodied minds are self-evidently subject. In mortality there is always immortality. (shrink)

It is exhibited that mature scientific economical theory is a set of propositions that describe the relationship between theoretical objects of two types - basic objects and derivative ones. The set of basic objects makes up the aggregate of initial idealizations (the Fundamental Theoretical Scheme or FTS) with no direct reference to experimental data. The derivative theoretical objects are formed from the basic ones according to certain rules. The sets of derivative objects form partial theoretical schemes or PTS. Any mature (...) economics scientific theory grows due to transitions, in order to describe each new experimental situation, from FTS to PTS. Each PTS construction from the FTS represents a problem that cannot be reduced to a strict algorithm. (shrink)

This paper was read at the University of Virginia at the XXXVIII ALDEEU conference of June 2018. -/- The phrase ‘Life, Liberty, and the pursuit of Happiness’ was Thomas Jefferson’s rewriting of Locke’s dictum, ‘Life, Liberty, and the pursuit of Property.’ Locke’s political philosophy speaks of a coming liberal age, engendering the Declaration of Independence. Anglo-Saxon historiography seemed to assure that Locke’s ideas were the autochthonous result of a historical process centered on the Reformation, Cromwellian parliamentary supremacy, and English commercial (...) practices. Some continental philosophers look instead to the theologians of the School of Salamanca for the European origins of liberty. In this paper I will examine the recent scholarship about the impressive contribution of this School which led Jefferson to ground the Declaration of Independence in scholastic thought. These scholastics provided the philosophical, legal, and economic framework for modern Europe, as it transitioned from its medieval concepts of social organization to the more liberal and individualistic one now. They were influential for a simple reason. The scholastic program used reason to develop its concepts of free will, popular sovereignty, and property rights – which well correspond to Locke’s phrase – and placed them in a congruent philosophical system derived from first principles using natural law. It was this coherent, logical framework that appealed most to the later thinkers Jefferson relied on when searching for a sound philosophical basis for the Declaration. The Hispanic neo-scholastics applied natural law to prior Conciliarist parliamentary ideas to establish a new relationship between the individual, the community, and the state. This framework emphasized a greater separation of church and state, popular sovereignty, deposition of kings, and checks on monarchical power. Others, including Protestants and Enlightenment thinkers, were later drawn to this system due to its sound basing in an essentialist, classical, natural law drawn from first principles. It was this foundational coherence which attracted others, including Jefferson, who tended to mistrust the basis of the resistance theorists that also relied on historicism or scripture, such as George Buchanan, the authors of Vindiciae Contra Tyrannos, or Locke himself. -/- . (shrink)

: The theory of objective value is the central feature in the paradigm of political economy. The Newtonian heritage plays a major role in giving political economy the status of a self-standing empirical science, and a reconstruction of this heritage casts fresh light on the idea of value and its role in the definition of the subject matter of political economy. Cognitive progress carried by classical political economy turns out to be related with the dilemmas of Newtonian epistemology and (...) the alternative between essentialist realism and instrumental conventionalism. (shrink)

This essay is my extended review of Eamonn Butler’s outstanding primer, Classical Liberalism. In his book, Butler notes that the phrase “classical liberal” encompasses a wide spectrum of views, from conservatism to libertarianism. Butler lays out 10 principles that characterize classical liberalism, sketches its history, and discusses the value classical liberals place on freedom and toleration. He also examines the classical liberal views of politics, government, and society, and some useful compendia for the reader.

Edward Feser defends the ‘Neo-Platonic proof ’ for the existence of the God of classical theism. After articulating the argument and a number of preliminaries, I first argue that premise three of Feser’s argument—the causal principle that every composite object requires a sustaining efficient cause to combine its parts—is both unjustified and dialectically ill-situated. I then argue that the Neo-Platonic proof fails to deliver the mindedness of the absolutely simple being and instead militates against its mindedness. Finally, I uncover (...) two tensions between Trinitarianism and the Neo-Platonic proof. (shrink)

There is a fault line running through classical liberalism as to whether or not democratic self-governance is a necessary part of a liberal social order. The democratic and non-democratic strains of classical liberalism are both present today—particularly in America. Many contemporary libertarians and neo-Austrian economists represent the non-democratic strain in their promotion of non-democratic sovereign city-states (startup cities or charter cities). We will take the late James M. Buchanan as a representative of the democratic strain of classical (...) liberalism. Since the fundamental norm of classical liberalism is consent, we must start with the intellectual history of the voluntary slavery contract, the coverture marriage contract, and the voluntary non-democratic constitution (or pactum subjectionis). Next we recover the theory of inalienable rights that descends from the Reformation doctrine of the inalienability of conscience through the Enlightenment (e.g., Spinoza and Hutcheson) in the abolitionist and democratic movements. Consent-based governments divide into those based on the subjects' alienation of power to a sovereign and those based on the citizens' delegation of power to representatives. Inalienable rights theory rules out that alienation in favor of delegation, so the citizens remain the ultimate principals and the form of government is democratic. Thus the argument concludes in agreement with Buchanan that the classical liberal endorsement of sovereign individuals acting in the marketplace generalizes to the joint action of individuals as the principals in their own organizations. (shrink)

This paper argues that there is a need to reconstruct a new paradigm for poverty policy planning in Africa because Neo-liberalism, Ubuntu ethics and African Socialism as proposed paradigms for Africa’s development are untenable. This is so because the above trio are sexist, androcentric and oblivious to structural injustices that feminize poverty in Africa. The paper further argues that even in the Western world, the neo-liberal GDP metric has been challenged and the search for alternative development indicators and paradigms is (...) on. In addition, there is a fully fledged post-neo-liberalism movement in Latin America and a de-growth and post-growth social movement in the West against neo-liberalism and its nebulous economic growth understanding of wellbeing. The paper contends that Africa cannot afford to remain aloof to all these developments. There is therefore a need to develop Pan African paradigms to articulate an endogenous perspective to African development. The paper thus advocates for the Dignified Humanness Paradigm (DHP) as an alternative to neo-liberalism, Ubuntu ethics and African Socialism. The paper also surmises that the actualization of the DHP requires an immediate awakening of the Pan African Moral Consciousness since this will militate on decolonization of the African mind from the amoral neo-liberal economism. (shrink)

Although the economic thought of Marshall and Pigou was united by ethical positions broadly considered utilitarian, differences in their intellectual milieu led to degrees of difference between their respective philosophical visions. This change in milieu includes the influence of the little understood period of transition from the early idealist period in Great Britain, which provided the context to Marshall’s intellectual formation, and the late British Idealist period, which provided the context to Pigou’s intellectual formation. During this latter period, the pervading (...) Hegelianism and influences of naturalism arising from the ideas of Charles Darwin and Herbert Spencer were challenged by Hermann Lotze, a key transitional thinker influencing the Neo-Kantian movement, who recognised significant limits of naturalism, on the one hand, and the metaphysical tenor of absolute idealism, on the other, and attempted to provide a balance between the two. The goal of this paper is to make the provisional case for the argument that Pigou’s views on ethics were not only directly influenced by utilitarian thinkers like Mill and Sidgwick, but they were also indirectly influenced by Hermann Lotze, via the influence of the Neo- Kantian movement on late British idealism. To that end, Pigou’s essays in The Trouble with Theism (1908), including his sympathetic consideration of the ethics of Friedrich Nietzsche, reflect the influence of Lotze indirectly through the impact at Cambridge of: James Ward’s critique of associationist psychology, and consideration of the limits of naturalism including the critique of evolutionary ethics; Bertrand Russell’s rejection of neo-Hegelianism and, together with Alfred North Whitehead, the development of Logicism; and G.E. Moore’s critique of utilitarian ethics on the basis of the naturalistic fallacy and the development of his own intuitionist system of ethics. (shrink)

Variation, adaptation, heredity and fitness, constraints and affordances, speciation, and extinction form the building blocks of the (Neo-)Darwinian research program, and several of these have been called “Darwinian principles.” Here, we suggest that caution should be taken in calling these principles Darwinian because of the important role played by reticulate evolutionary mechanisms and processes in also bringing about these phenomena. Reticulate mechanisms and processes include symbiosis, symbiogenesis, lateral gene transfer, infective heredity mediated by genetic and organismal mobility, and hybridization. Because (...) the “Darwinian principles” are brought about by both vertical and reticulate evolutionary mechanisms and processes, they should be understood as foundational for a more pluralistic theory of evolution, one that surpasses the classic scope of the Modern and the Neo-Darwinian Synthesis. Reticulate evolution moreover demonstrates that what conventional (Neo-)Darwinian theories treat as intra-species features of evolution frequently involve reticulate interactions between organisms from very different taxonomic categories. Variation, adaptation, heredity and fitness, constraints and affordances, speciation, and extinction therefore cannot be understood as “traits” or “properties” of genes, organisms, species, or ecosystems because the phenomena are irreducible to specific units and levels of an evolutionary hierarchy. Instead, these general principles of evolution need to be understood as common goods that come about through interactions between different units and levels of evolutionary hierarchies, and they are exherent rather than inherent properties of individuals. (shrink)

The growing appreciation of the global environmental crisis has generated what should have been a predictable response: those with power are using it to appropriate for themselves the world’s diminishing resources, augmenting their power to do so while further undermining the power of the weak to oppose them. In taking this path, they are at the same time blocking efforts to create forms of society that would be ecologically sustainable. If there is one word that could bring into focus what (...) is wrong with this response it is ‘democracy’. Democracy means power in the hands of the people, which, by definition, means opposition to the concentration of power. It is inconceivable that if we had genuine democracy, where people were fully informed of the issues, they would not choose to share the burdens of scarcity and organize to live in accordance with the limits of their environment. Yet the notion of democracy is problematic. Those striving to concentrate power are pursuing this in the name of democracy. They have identified democracy with the imposition of free markets and the freedom of people to use their wealth to dominate others. In this paper I will show how process philosophy provides the basis for justifying and further developing the traditional notion of democracy to counter this reformed notion, providing a vision of a democratic form of society that could address environmental problems. To achieve this, I will argue, it is necessary to reformulate the grand narrative of civilization on the basis of human ecology, a science which, construing humans as participants in a creative nature, can replace economics as the master science for formulating public policy. (shrink)

This article discusses the rationality principle, especially in Popper's version, on the occasion of a commentary of Maurice Lagueux's book, Rationality and Explanation in Economics (2010).

The paper discusses the possibility of constructing economic models using the methodology of model construction in classical mechanics. At the same time, unlike the "econophysical" approach, the properties of economic models are derived without involvement of any equivalent physical properties, but with account of the types of symmetry existing in the economic system. It has been shown that at this approach practically all known mechanical variables have their "economic twins". The variational principle is formulated on the basis of formal (...) mathematical construction without involving the subjective factor common to the majority of models in economics. The dynamics of interaction of two companies has been studies in details, on the basis of which we can proceed to modeling of more complex and realistic economic systems. Prediction of the possibility of constructing economic theory on the basis of primary principles analogously to physics has been made. (shrink)

Given the endowment effect, the role of attention in decision-making, and the framing effect, most behavioral economists agree that it would be a mistake to accept the satisfaction of revealed preferences as the normative criterion of choice. Some have suggested that what makes agents better off is not the satisfaction of revealed preferences, but ‘true’ preferences, which may not always be observed through choice. While such preferences may appear to be an improvement over revealed preferences, some philosophers of economics (...) have argued that they face insurmountable epistemological, normative, and methodological challenges. This article introduces a new kind of true preference – values-based preferences – that blunts these challenges. Agents express values-based preferences when they choose in a manner that is compatible with a consumption plan grounded in a value commitment that is normative, affective, and stable for the agent who has one. Agents who choose according to their plans are resolute choosers. My claim is that while values-based preferences do not apply to every choice situation, this kind of preference provides a rigorous way for thinking about classic choice situations that have long interested behavioral economists and philosophers of economics, such as ‘Joe-in-the-cafeteria.’. (shrink)

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)

The political, economic and environmental policies of a hegemonic, oligarchic, political-economic international caste are the origin and cause of the ecological and political dystopia that we are living in. An utilitarian, resourcist, anthropocentric perspective guides classical economics and sustainable development models, allowing the enrichment of a tiny part of the world's population, while not impeding but, on the contrary, directly inducing economic losses and environmental destruction for the many. To preserve the integrity of natural systems we must abandon (...) the resourcist anthropocentric ethical fiction that is the current moral foundation underlying our relationship with nature and instead promote the realization of a new developmental landmark for democratic institutions: direct democracy, i.e. democracy truly governed by the people for the people, and ultimately for nature as well. (shrink)

For over two decades now, Sub-Saharan Africa has been superimposed in a coercive and contradictory neo-liberal development economism agenda. According to this paradigm, markets and not states are the fundamental determinants of distributive justice and human flourishing through the promotion of economic growth that is believed to trickle down to the poor in due time. Despite the global intellectual criticism of this neo-liberal development economics orthodox of measuring development and wellbeing in terms of market induced economic growth, autocratic states (...) in Sub-Saharan Africa that have accumulated un-dimensional growth continue to be applauded as role models on poverty reduction, wellbeing and social justice by donors and global development institutions such as the World Bank and international monetary fund (IMF). This is basically because they have wholly embraced the implementation of the anti-pro-poor neo-liberal structural adjustment tool kit. This study uses a critical hermeneutics methodology to expose the distortions embedded in neo-liberal gross domestic product (GDP) growth cartographies and how these disguise the social injustices against the poor in Sub- Saharan Africa with particular reference to Uganda. The study contends that in measuring development and wellbeing, human rights and social justice must take precedence over economic efficiency and GDP growth for that matter. (shrink)

The founding fathers of neoliberalism are usually imagined as very rational neoclassical economists uninterested in cultural and religious issues. The aim of this paper is to paint a different picture by discussing the ideas of (neo)liberal economists regarding spiritual heritage, with an emphasis on eastern religions. Starting from the existing historiographical debate on the role of Daoist notions in the birth of political economy in 18th-century Europe, as an example of cultural transfer par excellence, argumentation develops into a comparative analysis (...) of philosophical underpinnings of modern laissez-faire liberalism and neoliberalism. The main thesis of the paper is that important epistemological differences between analysed doctrines imply the differences in the attitude of modern economic liberalism towards religion, which is demonstrated via examples of appropriations and translations of eastern heritage. This is a preliminary analysis but with the potential to shed new light on the political theology of contemporary culture and neoliberalism itself. (shrink)

The paper discusses the sense in which the changes undergone by normative economics in the twentieth century can be said to be progressive. A simple criterion is proposed to decide whether a sequence of normative theories is progressive. This criterion is put to use on the historical transition from the new welfare economics to social choice theory. The paper reconstructs this classic case, and eventually concludes that the latter theory was progressive compared with the former. It also briefly (...) comments on the recent developments in normative economics and their connection with the previous two stages. (Published Online April 18 2006) Footnotes1 This paper suspersedes an earlier one entitled “Is There Progress in Normative Economics?” (Mongin 2002). I thank the organizers of the Fourth ESHET Conference (Graz 2000) for the opportunity they gave me to lecture on this topic. Thanks are also due to J. Alexander, K. Arrow, A. Bird, R. Bradley, M. Dascal, W. Gaertner, N. Gravel, D. Hausman, B. Hill, C. Howson, N. McClennen, A. Trannoy, J. Weymark, J. Worrall, two annonymous referees of this journal, and especially the editor M. Fleurbaey, for helpful comments. The editor's suggestions contributed to determine the final orientation of the paper. The author is grateful to the LSE and the Lachmann Foundation for their support at the time when he was writing the initial version. (shrink)

This article identify catalysts of synthetic economic crisis. These catalysts are the subject of transnational corporations, international financial, trade organizations, regional integration groupings. Generalized mechanism for the flow of synthetic economic crisis and their types. This article also proves that the response of governments to the process flow of synthetic economic crisis with the help of the classical fiscal, monetary and administrative-legislative instruments are not effective.

The present paper discusses the problem of quantum-mechanical properties of a subject’s consciousness. The model of generalized economic measurements is used for the analysis. Two types of such measurements are analyzed – transactions and technologies. Algebraic ratios between the technology-type measurements allow making their analogy with slit experiments in physics. It has been shown that the description of results of such measurements is possible both in classical and in quantum formalism of calculation of probabilities. Thus, the quantum-mechanical formalism of (...) the description of states appears as a result of idealization of the selection mechanism in the proprietor's consciousness. (shrink)

This paper examines 18th-century Annamese Neo-Confucian discourse on conceptual issues related to zhongguo and the hua-yi dichotomy as expressed across a diversity of 18th-century writings. I engage with Huang Chun-chieh’s theory of “contextual turn” and localized subjectivity in 18th-century East Asian Confucianisms by arguing that 18th-century Annamese Neo-Confucianism operated along a dissimilar ideological trajectory which affirmed “geographic China, political China, and cultural China” as a transdynastic and singular zhongguo from which Annam received its politico-cultural legitimation and prestige. This discourse of (...) dependence on institutional recognition and geographical connection to the Chinese zhongguo distinguished 18th-century Annamese literati not only from contemporaneous modes of Confucian intellectuality in Japan and Joseon, but also from foundational conceptions of Vietic statehood characteristic of the early Le dynasty. My analysis of metaphysical theories invoked by 18th-century Annamese literati in their discussions of zhongguo and the rise of human civilization engages with both Huang Chun-chieh’s theory of a philological turn away from the metaphysical commitments in 18th-century East Asian Confucianisms and Alexander Woodside’s theory of pre-modern Vietnamese Confucianism being characterized by a non-metaphysical “classical primordialism.”. (shrink)

This chapter briefly reviews the present state of judgment aggregation theory and tentatively suggests a future direction for that theory. In the review, we start by emphasizing the difference between the doctrinal paradox and the discursive dilemma, two idealized examples which classically serve to motivate the theory, and then proceed to reconstruct it as a brand of logical theory, unlike in some other interpretations, using a single impossibility theorem as a key to its technical development. In the prospective part, having (...) mentioned existing applications to social choice theory and computer science, which we do not discuss here, we consider a potential application to law and economics. This would be based on a deeper exploration of the doctrinal paradox and its relevance to the functioning of collegiate courts. On this topic, legal theorists have provided empirical observations and theoretical hints that judgment aggregation theorists would be in a position to clarify and further elaborate. As a general message, the chapter means to suggest that the future of judgment aggregation theory lies with its applications rather than its internal theoretical development. (shrink)

This forum contribution addresses two major themes in de Goede’s original essay on ‘Financial security’: (1) the relationship between stable markets and the proverbial ‘security dilemma’; and (2) the development of new decision-technologies to address risk in the post-World War II period. Its argument is that the confluence of these two themes through rational choice theory represents a fundamental re-evaluation of the security dilemma and its relationship to the rule of law governing market relations, ushering in an era of perpetual (...) physical and financial insecurity. (shrink)

Digital records, from chat transcripts to social media posts, are being used to create chatbots that recreate the conversational style of deceased individuals. Some maintain that this is merely a new form of digital memorial, while others argue that they pose a variety of moral hazards. To resolve this, I turn to classical Chinese philosophy to make use of a debate over the ethics of funerals and mourning. This ancient argument includes much of interest for the contemporary issue at (...) hand, including the use of impersonators of the dead to help the bereaved to deal well with their grief. I connect this historical discussion with a modern trend in clinical psychology that reframes therapeutic interventions with bereaved individuals. The trend directs practitioners away from facilitating detachment and toward affirming continuing bonds. I conclude that these chatbots can offer an important source of support to mourners, but also discuss parameters and features of social context that will be important to avoid the moral hazards identified by sceptics. (shrink)

This dissertation undertakes a philosophical analysis of “natural capital” and argues that this concept has prompted economists to view Nature in a radically novel manner. Formerly, economists referred to Nature and natural products as a collection of inert materials to be drawn upon in isolation and then rearranged by human agents to produce commodities. More recently, nature is depicted as a collection of active, modifiable, and economically valuable processes, often construed as ecosystems that produce marketable goods and services gratis. Nature (...) is depicted as consisting of various unproduced mechanisms or “natural machines” that are first discovered and then channeled so as to serve human ends. In short, nature as an ideal is a kind of garden that is characterized by natural objects purposefully arranged by intentional human agents. This dissertation first lays out working definitions of the key terms, such as capital and Nature, and then traces the historical roots of natural capital in the writings of eminent classical political economists, such as Adam Smith, John Stuart Mill, and Karl Marx. I then examine the question of substitutes for “critical natural capital”, and argue that the preservation paradox is warranted: no one can restore or preserve a part of Nature without turning it into an artifact. Following the recent work of Debra Satz and Michael Sandel, I finish my dissertation by situating the question of natural capital in the broader context of whether some goods should not be for sale, particularly those I define as Basic Ecological Goods. (shrink)

Given the robust reputation of Nigeria in Africa, as a continental giant, and the need to harness the potentials of the nation to strategically reposition her economy on the global map in the 21st century, the nation is in dire need of speedy development. With a population of over 160 million, the country is blessed with both human and natural resources. Like other African countries, Nigeria has had her fair share of colonial experience which ended on October 1st, 1960 when (...) the nation was granted independence by the British government. Nigeria’s independence is undoubtedly a political phenomenon as the nation still largely depends economically and socially on foreign nations especially developed countries like Britain, America and China. (shrink)

Scholastics were a group of Christian theologians mainly active in Europe during the 12th to 17th centuries. One of the notable teachings in scholastic literature is the theory of just price, which can be considered one of the most frequent theories in the history of economic ideas. This study tries to reassess the theory of just price in the economic thought of scholastic thinkers by referring to classical scholastic texts, through which it examines the general experiences of scholastic theology (...) in confrontation with economic phenomena. For this purpose, the theory of just price is examined from the roots of its formation in scholastic practical wisdom to its most superficial form as an economic institution. Through this investigation, the question of how theology can play a role in its practical field, up to the most superficial economic institutions can be answered. The results of this study show that scholastic thinkers in the theoretical field of practical theology had significant achievements in promoting theology through their writings and teachings in schools. In its practical field, they tried to implement theology in the human foundations of society by building various divine institutions such as a just price. In this regard, the theory of dual human happiness in scholastic theology has significantly impacted the formation of economic issues as part of scholastic practical wisdom. Despite these achievements, their thought is wanting from two aspects: (1) systematic lack of understanding of modern phenomena such as capitalism and (2) no effort to implement their teachings in the social and economic construction of society. -/- . (shrink)

The standard perception of the dichotomy between population thinking and essentialism (typological thinking) in evolutionary economics descends from the golden age of the neo-Darwinian Synthesis. Over the last few decades the received view on population thinking has been seriously challenged in biology and its philosophy. First, the strong version of population thinking that banishes essentialism witnessed important tensions stemming from the ontological status of species. These tensions have been amplified by the demise of positivism and the rise of a (...) new essentialism in philosophy of science. Second, the soft version that transforms the opposition between population thinking and essentialism to the dichotomy between ultimate and proximate causation has led to contradictory interpretations regarding the locus of ultimate causes. Taking stock of the previous discussion the paper addresses the limits to population thinking in the socio-economic realm. The upshot is that without denying the important achievements made by the application of population thinking in sub-disciplines like industrial dynamics and economic anthropology, the idea to generalize these applications into the whole socio-economic realm is problematic. The aforementioned achievements cannot come to grips with the structural aspects of capitalism, its different periods (e.g. the contemporary finance-led capitalism) and its geographical varieties. The resulting gap points to the importance of structural analysis (essentialism) and evolutionary political economy. The latter is distinguished from the rest of evolutionary economics by its project to go beyond the surface of economic phenomena and to critically analyze their underlying social structures. (shrink)

This book is a collection and reworking of research done by Pascal Salin since around 1990. Salin is an economist in the tradition of the Austrian school of economics. He emphasizes the centrality of individual choice in an uncertain world in which individual actions interact to produce spontaneous orders. But he is no mere conduit of established ideas. He also offers his own highly original insights honed after a lifetime as an economist, one who has earned the respect in (...) which he is now held by his peers worldwide. The book makes delightful reading. Salin covers a lot of ground in this book, mostly within the topics indicated by the title, though in the final two chapters he goes beyond these and into the foundations of economic science. The book is divided into five parts: (1) firms, markets and competition, (2) globalization and international economic problems, (3) monetary integration, (4) money, finance and economic policies, and (5) foundations of economic theory. (shrink)

When this article was first planned, writing was going to be exclusively about two things - the origin of life and human evolution. But it turned out to be out of the question for the author to restrict himself to these biological and anthropological topics. A proper understanding of them required answering questions like “What is the nature of the universe – the home of life – and how did it originate?”, “How can time travel be removed from fantasy and (...) science fiction, to be made scientific and practical?”, and “How can the proposed young age of genus Homo be made to actually be reasonable – when simply stating it would be solid ground for instant rejection and dismissal?” The result is that the article also talks about subjects like Artificial Intelligence, General Relativity, and cosmology. -/- From where did life originate? God? Evolution? Panspermia? If the tendency of humans and scientists to regard undiscovered science as pseudoscience can be overcome, Einstein gave another alternative to consider when he introduced General Relativity. Time isn’t linear – progressing in a straight line from past to present to future. That assumption ignores Relativity which states that space AND TIME are curved. Where did life and the genetic code come from? Can the answer build AI? -/- The first question can be answered by the section of this article titled SETI, Evolution, and Time which says life (possibly multicellular and intelligent) and the genetic code came from humans acquiring knowledge of these things over the centuries, then applying that knowledge – via terraforming, accumulation of raw materials like amino acids and nucleic acids, genetic engineering - to a time in the past when life didn’t exist. From that origin, life evolved through innumerable mutations and adaptations, with humans once again acquiring knowledge of it in cyclic (nonlinear) time. -/- The second question is answered by saying artificial intelligence (AI) as the product of life is only half of the equation. The other half refers to Relativity’s curved space-time and violation of the notion that time always travels from past to future. We have always lived in an artificially intelligent, non-probabilistic universe where everything in time and space is connected into one thing by quantum entanglement – making the brain and genes products of binary-digit activity or artificial intelligence (life is not merely dependent on biology’s “lock and key” mechanisms but also possesses AI). -/- The earliest documented representative of the genus Homo is Homo habilis, which evolved around 2.8 million years ago. Scientists used to believe there was a straight line from H. habilis to us, Homo sapiens. This article will use the “advanced” waves loved by Physics Nobel laureate Richard Feynman, view the history of science through the lens of Conic Sections applied to Relativity’s curved space-time, and incorporate the necessity of so-called imaginary time * – popularized by Prof. Stephen Hawking. While the evolutionary proposals are more in agreement with this early straight line than with modern theories, Albert Einstein’s General Relativity is used to transform the straight line into a curved line, ultimately concluding that Homo habilis (H. habilis) originated only (and unbelievably, as far as today’s science and technology is concerned) ~250,000 years ago. Other branches and dead ends of Homo – e.g. Neanderthals – are the result of mutations and adaptations, with the resultant modifications to anatomy and physiology. The surprisingly young age of H. habilis allows nearly 200,000 years for habilis, or one of its descendants, to reach Australia … if this country’s indigenous Aboriginal population did, as claimed, reach this “island continent” 60,000 years ago. -/- * The ultraviolet catastrophe, also called the Rayleigh–Jeans catastrophe, is a failure of classical physics to predict observed phenomena: it can be shown that a blackbody - a hypothetical perfect absorber and radiator of energy - would release an infinite amount of energy, contradicting the principles of conservation of energy and indicating that a new model for the behaviour of blackbodies was needed. At the start of the 20th century, physicist Max Planck derived the correct solution by making some strange (for the time) assumptions. In particular, Planck assumed that electromagnetic radiation can only be emitted or absorbed in discrete packets, called quanta. Albert Einstein postulated that Planck's quanta were real physical particles (what we now call photons), not just a mathematical fiction. From there, Einstein developed his explanation of the photoelectric effect (when quanta or photons of light shine on certain metals, electrons are released and can form an electric current). So it appears entirely possible that another supposed mathematical trickery (imaginary time and the y-axis of Wick rotation) will find practical application in the future. -/- The article includes mathematical references to cosmology (spoiler alert – you’ll read about things like Vector-Tensor-Scalar Geometry, topology, the “eternal present”, Einstein’s Unified Field, the inverse-square law, and there being no Big Bang and no multiverse - but there will also be no equations). -/- The other subheadings in this essay are – -/- NONLINEAR TIME AND ELECTRICAL ENGINEERING (about a 2009 electrical engineering experiment at America’s Yale University, and cosmic wormholes) -/- BITS AND TOPOLOGY (base-2 maths aka Binary digiTS, Mobius strips, and figure-8 Klein bottles) -/- WICK ROTATION, CAUSALITY, AND UNITING TIME (do past, present and future co-exist in an “eternal present”?) -/- DIGITAL BRAIN, DIGITAL UNIVERSE (if the brain and the universe are ultimately composed of binary digits, we'll someday be able to do the same things with the brain and universe that we now do with computers) -/- PROPOSAL: HUMAN AND ANIMAL INSTINCTS ARE THE RESULT OF THE UNIVERSE BEING UNIFIED BY BINARY DIGITS (AND TOPOLOGY) (If everything in the universe is ultimately composed of electronic BITS, then the universe must possess Artificial Intelligence - some prefer the term Cosmic Consciousness) -/- INFORMATION THEORY CONQUERS A RED GIANT (preserving Earth by keeping the Sun near today’s level of activity forever). 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Nancy MacLean’s book, Democracy in Chains, raised questions about James M. Buchanan’s commitment to democracy. This paper investigates the relationship of classical liberalism in general and of Buchanan in particular to democratic theory. Contrary to the simplistic classical liberal juxtaposition of “coercion vs. consent,” there have been from Antiquity onwards voluntary contractarian defenses of non-democratic government and even slavery—all little noticed by classical liberal scholars who prefer to think of democracy as just “government by the consent of (...) the governed” and slavery as being inherently coercive. Historically, democratic theory had to go beyond that simplistic notion of democracy to develop a critique of consent-based non-democratic government, e.g., the Hobbesian pactum subjectionis. That critique was based firstly on the distinction between contracts or constitutions of alienation (translatio) versus delegation (concessio). Then the contracts of alienation were ruled out based on the theory of inalienable rights that descends from the Reformation doctrine of inalienability of conscience down through the Enlightenment to modern times in the abolitionist and democratic movements. While he developed no theory of inalienability, the mature Buchanan explicitly allowed only a constitution of delegation, contrary to many modern classical liberals or libertarians who consider the choice between consent-based democratic or non-democratic governments (e.g., private cities or shareholder states) to be a pragmatic one. But Buchanan seems to not even realize that his at-most-delegation dictum would also rule out the employer-employee or human rental contract which is a contract of alienation “within the scope of the employment.”. (shrink)

Following Anthony Downs’s classic economic analysis of democracy, it has been widely noted that most voters lack the incentive to be well-informed. Recent empirical work, however, suggests further that political partisans can display selectively lazy or biased reasoning. Unfortunately, political knowledge seems to exacerbate, rather than mitigate, these tendencies. In this paper, I build on these observations to construct a more general skeptical challenge which affects what I call creedal beliefs. Such beliefs share three features: (i) the costs to the (...) individual of being wrong are negligible, (ii) the beliefs are subject to social scrutiny, and (iii) the evidential landscape relevant to the beliefs is sufficiently complex so as to make easy verification difficult. Some philosophers and social scientists have recently argued that under such conditions, beliefs are likely to play a signaling, as opposed to a navigational role, and that our ability to hold beliefs in this way is adaptive. However, if this is right, I argue there is at least a partial debunker for such beliefs. Moreover, this offers, I suggest, one way to develop the skeptical challenge based on etiological explanation that John Stuart Mill presents in On Liberty when he claims that the same causes which lead someone to be a devout Christian in London would have made them a Confucian in Peking. Finally, I contend that this skeptical challenge is appropriately circumscribed so that it does not over-extend in an implausible way. (shrink)

Indigenous people often do not get the full benefits of economic development, regardless of their proximity to production factors. While many academics have recognised and investigated indigenous people’s problems, relatively few have suggested entrepreneurship as a means to addressing them. In this paper, we explore Peredo et al.’s (2004) work, ‘Towards a theory of indigenous entrepreneurship – a theory of entrepreneurship that accounts for indigenous people and sustainability’. Using Scopus and Google Scholar, a bibliometric analysis confirmed the impact of this (...) work, first published some 16 years ago. The analysis reveals that the paper has been referenced over 300 times, with over 70% of these citations originating from online academic journal articles and books and 30% from different types of websites. The paper’s substantial impact on future research in indigenous entrepreneurship indicates that it is and will continue to be a foundational work on indigenous entrepreneurship. (shrink)

Mental accounting is a concept associated with the work of Richard Thaler. According to Thaler, people think of value in relative rather than absolute terms. They derive pleasure not just from an object’s value, but also the quality of the deal – its transaction utility (Thaler, 1985). In addition, humans often fail to fully consider opportunity costs (tradeoffs) and are susceptible to the sunk cost fallacy. Why are people willing to spend more when they pay with a credit card than (...) cash (Prelec & Simester, 2001)? Why would more individuals spend $10 on a theater ticket if they had just lost a $10 bill than if they had to replace a lost ticket worth $10 (Kahneman & Tversky, 1984)? Why are people more likely to spend a small inheritance and invest a large one (Thaler, 1985)? According to the theory of mental accounting, people treat money differently, depending on factors such as the money’s origin and intended use, rather than thinking of it in terms of the “bottom line” as in formal accounting (Thaler, 1999). An important term underlying the theory is fungibility, the fact that all money is interchangable and has no labels. In mental accounting, people treat assets as less fungible than they really are. Even seasoned investors are susceptible to this bias when they view recent gains as disposable “house money” (Thaler & Johnson, 1990) that can be used in high-risk investments. In doing so, they make decisions on each mental account separately, losing out the big picture of the portfolio. (See also partitioning and pain of paying for ideas related to mental accounting.) . (shrink)

ES: La economía tradicional explica la evolución de los individuos y del conocimiento de forma muy parcial. Los nuevos medios exigen una reconsideración del papel del individuo y del valor comunal del conocimiento que permita una reorientación del sentido económico y las acciones individuales. Frente a la teoría de juegos tradicional de suma 0, es posible encontrar formulaciones cooperativas que muestran su robustez y pertinencia. EN: Classical economics explains the evolution of individuals and knowledge in a very partial (...) way. New technological means require a reconsideration of the role of individuals and communal value of knowledge. This rethinking allows a reorientation of both the economic sense and individual actions to become a reality. Against a classical theory of zero-sum games, it is possible to reshape cooperative ways that show their robustness and pertinence. (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)

This chapter aims to draw on the critical threads of those vibrant theological conversations within the formative years of Islamic thought in considering the different theological models of the Divine within the broader Islamic tradition under the purview of classical theism as it is understood today in the contemporary philosophy of religion. In doing so, it makes reference to the major strands within the theological (‘ilm al- kalām & atharī scripturalism) and philosophical (falsafa) schools of the Islamic tradition. It (...) aims to consider how these different trends, schools, and thinkers construct a model of God in light of the classical and neo-classical theistic model of God. (shrink)

This article examines the integration of the Gulen Movement into the neoliberal economy. In spite of the Gulen Movement currently undergoes a severe persecution under President Erdogan and charged as FETO (FethullahTerrorist Organization), Gulen’s success story in the economy is of interest for any Islamic movements to emulate. In contrast to those belong to the revivalist Islam that rejects the neo-liberal economy, Gulen does accept the neoliberal economy. He integrates neoliberalism into Islam, and vice versa. Gulenacceptance of the neo-liberal economy, (...) in turn, encouraged his movement to adopt for further neoliberal principles such as human rights, multiculturalism, cosmopolitanism, etc. Since Gulen willingly immerses in the neo-liberalist system, he could be categorized into a progressive Islam. Nevertheless, Galen shows his critical attitude toward the capitalist economy despite his acceptance of the system. This article argues that Gulen’s adoption of the neo-liberal economy is a method of da’wah. This article calls it as ‘da’wah in the economic field’.As it is the case, Gulen’s adoption of neo-liberal economics does not appear simultaneously once, rather through gradual processes in which it goes through three stages of his da’wah: individual transformation, social transformation, and the state. (shrink)

The idea that «natural» environments should be protected is a relatively recent one. This new attitude is reflected in the activities of preservation and restoration of natural environments, ecosystems, flora and wildlife that, when scientifically based, can be defined as conservation. In this paper, we would like to examine the framework of values behind these activities. More specifically, we would like to show that there is no single specific reason that can justify conservation in each of its manifestations It is (...) therefore necessary to adopt a complex framework of values, which must be composed carefully, since many of the canonical arguments used to justify conservation provide, when combined together, an incoherent or, at least, incomplete set of reasons. One way to avoid these inconsistencies or incompleteness is, in our view, to adopt, in conjunction with the classic economic and ecological arguments for conservation, a set of arguments appealing to the importance of nature for human flourishing. (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)