Our latest contribution to the world’s battle against climate and biodiversity crises was an expert commentary on Vietnamese forests and the prospect of carbon credits trade. The article appeared in the Land and Climate Review on Feb. 2, 2024.

Trong khu vực Đông Nam Á, Indonesia là nền kinh tế lớn và cũng là quốc gia phát thải khí nhà kính lớn nhất. Tuy nhiên, Indonesia cũng cam kết mạnh mẽ với mục tiêu giảm mạnh ảnh hưởng phát thải của khu vực sản xuất điện năng, đang chủ yếu vận hành các nhà máy nhiệt điện đốt than.

Vietnam’s forests are at risk - carbon offset schemes could be the best chance of saving them, say Dr. Quan-Hoang Vuong and Minh-Hoang Nguyen. The value of forests is deeply ingrained in Vietnamese culture. Rừng vàng, biển bạc” [“forests of gold and seas of silver”] is both a metaphor for Vietnam, and a description of its natural wealth. The phrase is everywhere, from political speeches to daily conversation, as is Nhất phá sơn lâm, nhì đâm hà bá [“the worst (...) crime is to destroy the mountains and forests, the second worst is to kill the river”]. Deforestation is a Vietnamese taboo. (shrink)

The three main types of policies for addressing climate change are command and control regulation, carbon taxes (or price instruments), and cap and trade (or quantity instruments). The first question in the ethics of carbon pricing is whether the latter two (price and quantity instruments) are preferable to command and control regulation. The second question is, if so, how should we evaluate the relative merits of price and quantity instruments. I canvass relevant arguments to explain different ways (...) of addressing these important policy questions, suggesting that carbon pricing is preferable to command and control regulation, and that price instruments have the theoretical edge over quantity instruments. [Open access]. (shrink)

A question arising from the COVID-19 crisis is whether the merits of cases for climate policies have been affected. This article focuses on carbon pricing, in the form of either carbon taxes or emissions trading. It discusses the extent to which relative costs and benefits of introducing carbon pricing may have changed in the context of COVID-19, during both the crisis and the recovery period to follow. In several ways, the case for introducing a carbon price (...) is stronger during the COVID-19 crisis than under normal conditions. Oil costs are lower than normal, so we would expect less harm to consumers compared to normal conditions. Governments have immediate need for diversified new revenue streams in light of both decreased tax receipts and greater use of social safety nets. Finally, supply and demand shocks have led to already destabilized supply-side activities, and carbon pricing would allow this destabilization to equilibrate around greener production for the long-term. The strengthening of the case for introducing carbon pricing now is highly relevant to discussions about recovery measures, especially in the context of policy announcements from the European Union and United States House of Representatives. Key Policy Insights: • Persistently low oil prices mean that consumers will face lower pain from carbon pricing than under normal conditions. • Many consumers are more price-sensitive during the COVID-19 context, which suggests that a greater relative burden from carbon prices would fall upon producers as opposed to consumers than under normal conditions. • Carbon prices in the COVID-19 context can introduce new revenue streams, assisting with fiscal holes or with other green priorities. • Carbon pricing would contribute to a more sustainable COVID-19 recovery period, since many of the costs of revamping supply chains are already being felt while idled labor capacity can be incorporated into firms with lower carbon-intensity. (shrink)

Do carbon-offsetting schemes morally offset emissions? The moral equivalence thesis is the claim that the combination of emitting greenhouse gasses and offsetting those emissions is morally equivalent to not emitting at all. This thesis implies that in response to climate change, we need not make any lifestyle changes to reduce our emissions as long as we offset them. An influential argument in favor of this thesis is premised on two claims, one empirical and the other normative: (1) When you (...) emit + offset, the net result is the same as that of not emitting. (2) With emissions, the net result is what matters morally. I argue against both premises. The net result of emitting + offsetting is never equivalent to that of not emitting, and even if it were equivalent, the net result is not the only thing that matters morally. My conclusion is that although we should offset our emissions, avoiding emissions is morally preferable. This conclusion supports a stronger claim: that carbon offsets cannot relieve us of our duty to make significant lifestyle changes so as to reduce emissions and thus lesson our contribution to the harms of climate change. (shrink)

In this paper, I show that Polleit and Mariano (2011) are right in concluding that Credit Default Swaps (CDS) are per se unobjectionable from Rothbard’s libertarian perspective on property rights and contract theory, but that they fail to derive this conclusion properly. I therefore outline the proper explanation. In addition, though Polleit and Mariano are correct in pointing out that speculation with CDS can conceivably hurt the borrowers’ interests, they fail to grasp that this can be the case only (...) in some peculiar circumstances that I identify. In other words, they miss the bigger picture, the one outside special circumstances, in which CDS trading has the opposite effect. That is, CDS facilitate debt accumulation, including government debt accumulation. Finally, I point out how this can precipitate the collapse of fiat money regimes. An incidental goal of the analysis is to provide a better account than Polleit and Mariano of recent government interventions in and around CDS markets. (shrink)

This teaching and learning guide accompanies the following article: Mintz-Woo, K., 2022. Carbon Pricing Ethics. Philosophy Compass 17(1):article e12803. doi:10.1111/phc3.12803. [Open access].

The credit crises experienced in the US in year 2008 is labeled as perhaps the most significant crises since the great depression. The roots of the crises were found in the default of the sub-prime mortgages and the failure occurred in both the US and the UK. Due to the integrated nature of international financial systems the spillover impacted many countries as the economies in Asia and Europe were purchasers of the sub-prime mortgages that originated in both UK and (...) US. The impact of the credit crises in Canada is of unique importance due to the close proximity to US, and both the US and Canada being of great strategic importance to each other as well as one of the largest trading partners.Even though the international financial credit crises adversely impacted many countries, the evidence that has come across recent years point towards the conclusion that Canada was able to weather the crises much better than many other countries. (shrink)

This research is concerned with understanding the factors behind the trade-off between child labor and child schooling, given the well-documented links between the two. It examines parents' behavior in their decision-making on their children's schooling or practicing child labor. Depending on qualitative research methods including 28 semi-structured interviews and two focus group discussions conducted in the rural areas of Bangladesh in 2020, this study reveals the following: subsistence needs compel households, particularly the ultra-poor and the female-headed, to trade (...) off child labor with schooling; due to higher demand of labor, parents engage their children into work instead of schooling; parents of labor-intensive occupations tend to trade off child labor with schooling; sexual division of labor remains obvious; finally, credit constraints and cultural beliefs have negative impacts on parental decision-making on child schooling. Interventions aiming to reduce child labor and increase schooling in these rural areas must remain mindful of the socio-economic and cultural needs. (shrink)

This chapter argues for deregulation of the credit-rating market. Credit-rating agencies are supposed to contribute to the informational needs of investors trading bonds. They provide ratings of debt issued by corporations and governments, as well as of structured debt instruments (e.g. mortgage-backed securities). As many academics, regulators, and commentators have pointed out, the ratings of structured instruments turned out to be highly inaccurate, and, as a result, they have argued for tighter regulation of the industry. This chapter shows, (...) however, that the role of credit-rating agencies in achieving justice in finance is not as great as these commentators believe. It therefore argues instead for deregulation. Since the 1930s, lawgivers have unjustifiably elevated the rating agencies into official, legally binding sources of information concerning credit risk, thereby unjustifiably causing many institutional investors to outsource their epistemic responsibilities, that is, their responsibility to investigate credit risk themselves. (shrink)

Non-technical summary: -/- When developing and deploying negative emissions technologies (NETs), little attention has been paid to where. On the one hand, one might develop NETs where they are likely to contribute most to global mitigation targets, contributing to a global climate solution. On the other hand, one might develop NETs where they can help support development on a regional basis, justified by regional demands. I defend these arguments and suggest that they reflect the values of efficiency and responding to (...) need, respectively. To the extent that these values conflict, they introduce what I call the Need-Efficiency Trade-off Effect (‘NET Effect’). -/- Technical summary: -/- Unlike other geoengineering methods, the effectiveness of negative emissions technologies (NETs) tends to be sensitive to regional siting. This paper argues that this point raises morally and legally important implications by identifying a trade-off between ‘efficiency’ and ‘need’. First, it introduces two arguments justifying NETs: one focused on contributions to global mitigation and the other focused on contributions to regional development. Second, reflecting the two arguments, the paper discusses the moral values of efficiency and need, respectively. For instance, if the strategy is to try to use NETs to maximize expected mitigation contributions to reflect efficiency, then deployment should occur in regions with the best prospects for success (e.g. Western countries). However, if the strategy is to try to use NETs to improve the chances of simultaneous development and mitigation to respond to need, then deployment should occur in regions with limited development and expected growth of demand for NETs (e.g. Asian countries). When these values conflict, I call that a Need-Efficiency Trade-off Effect (‘NET Effect’). The paper concludes by considering the NET Effect in the context of bioenergy with carbon capture and storage as well as direct air carbon capture and storage. [Open access]. (shrink)

The article considers the problem of ensuring the economic security of trade enterprises by forming an optimal pricing policy. The methodology of formation the minimum and maximum selling prices of trade enterprise, maintenance of margin of economic security, which is based on research of turnover costs and working capital of trade enterprise is offered. Based on statistical data of trade enterprises, the types of prices by product range are determined, which form a stable economic situation and (...) ensure economic security of trade enterprise. The necessity of forming the optimal price policy and selling prices of trade enterprises with the use of Pareto efficiency tools and construction of single-criteria and multi-criteria tasks, indicators of quality of commodity resources of trade enterprises is substantiated. Using the Excel software processor and the «Regression» function, economic-mathematical models of optimal prices for the product range of trade enterprises are built. The results testified to the effectiveness of the proposed model of the optimal pricing policy of trade enterprises, as the obtained values are within the minimum selling prices, which provides economic security of trade enterprises. The process of forming the pricing policy of trade enterprises to ensure economic security is proposed, which is based on the principles of pricing, appropriate methodological tools and monitoring of market environment factors. Organizational, economic, legal, social and market (marketing) mechanisms for the formation of effective pricing policy of trade enterprises aimed at ensuring economic security are identified. This study is practically interesting for personnel of trade enterprises, regardless of organizationallegal forms of ownership and activities, and theoretically – for researchers dealing with pricing. (shrink)

Statements such as “X is beautiful but I don’t like how it looks” or “I like how X looks but it is not beautiful” sound contradictory. How contradictory they sound might however depend on the object X and on the aesthetic adjective being used (“beautiful”, “elegant”, “dynamic”, etc.). In our study, the first sentence was estimated to be more contradictory than the latter: If we describe something as beautiful, we often intend to evaluate its appearance, whereas it is less counterintuitive (...) to appreciate an appearance without finding it beautiful. Furthermore, statements including “beautiful” appeared more contradictory than those including “elegant” and “dynamic”, pointing to its greater evaluative component. When related to artworks, sentences could appear less contradictory due to readers’ consideration of the divergence between conventional beauty and art-related sensory pleasures that can even include negative valence. Such ambivalence might be more frequent in art-objects than in other artefacts. Indeed, in our study, sentences referring to artworks were estimated to be less contradictory compared to sentences referring to other artefacts. Meanwhile, an additional small group of graphic design students showed a less clear difference between art-related and non-art-related sentences. We discuss the potential influence of art experience and interest as well as theoretical and methodological challenges like the conceptualization of beauty. (shrink)

In his Christian and Metaphysical Meditations (1683) Malebranche develops a reflection in which the self discovers in its interiority that the interlocutor able to answer some of its questions is the divine Word. Through references to the Holy Scriptures and to Augustine, Malebranche constructs a meditative itinerary that differs from the one proposed by Descartes, as it moves from the lumière naturelle in the Cartesian sense to the lumière of the Word. In the light of these historical-theoretical data, we propose (...) a reconstruction of the role played by interiority and meditation in certain texts by Malebranche, highlighting the moments in which he appropriated the Cartesian heritage and those in which he distanced himself from Descartes’ philosophical paradigm. (shrink)

Biological ontologies are used to organize, curate, and interpret the vast quantities of data arising from biological experiments. While this works well when using a single ontology, integrating multiple ontologies can be problematic, as they are developed independently, which can lead to incompatibilities. The Open Biological and Biomedical Ontologies Foundry was created to address this by facilitating the development, harmonization, application, and sharing of ontologies, guided by a set of overarching principles. One challenge in reaching these goals was that the (...) OBO principles were not originally encoded in a precise fashion, and interpretation was subjective. Here we show how we have addressed this by formally encoding the OBO principles as operational rules and implementing a suite of automated validation checks and a dashboard for objectively evaluating each ontology’s compliance with each principle. This entailed a substantial effort to curate metadata across all ontologies and to coordinate with individual stakeholders. We have applied these checks across the full OBO suite of ontologies, revealing areas where individual ontologies require changes to conform to our principles. Our work demonstrates how a sizable federated community can be organized and evaluated on objective criteria that help improve overall quality and interoperability, which is vital for the sustenance of the OBO project and towards the overall goals of making data FAIR. Competing Interest StatementThe authors have declared no competing interest. (shrink)

The Planteome project provides a suite of reference and species-specific ontologies for plants and annotations to genes and phenotypes. Ontologies serve as common standards for semantic integration of a large and growing corpus of plant genomics, phenomics and genetics data. The reference ontologies include the Plant Ontology, Plant Trait Ontology, and the Plant Experimental Conditions Ontology developed by the Planteome project, along with the Gene Ontology, Chemical Entities of Biological Interest, Phenotype and Attribute Ontology, and others. The project also provides (...) access to species-specific Crop Ontologies developed by various plant breeding and research communities from around the world. We provide integrated data on plant traits, phenotypes, and gene function and expression from 95 plant taxa, annotated with reference ontology terms. (shrink)

In this article we analyse the role that artificial intelligence (AI) could play, and is playing, to combat global climate change. We identify two crucial opportunities that AI offers in this domain: it can help improve and expand current understanding of climate change and it contribute to combating the climate crisis effectively. However, the development of AI also raises two sets of problems when considering climate change: the possible exacerbation of social and ethical challenges already associated with AI, and the (...) contribution to climate change of the greenhouse gases emitted by training data and computation-intensive AI systems. We assess the carbon footprint of AI research, and the factors that influence AI’s greenhouse gas (GHG) emissions in this domain. We find that the carbon footprint of AI research may be significant and highlight the need for more evidence concerning the trade-off between the GHG emissions generated by AI research and the energy and resource efficiency gains that AI can offer. In light of our analysis, we argue that leveraging the opportunities offered by AI for global climate change whilst limiting its risks is a gambit which requires responsive, evidence-based and effective governance to become a winning strategy. We conclude by identifying the European Union as being especially well-placed to play a leading role in this policy response and provide 13 recommendations that are designed to identify and harness the opportunities of AI for combating climate change, while reducing its impact on the environment. (shrink)

In the given article the problems of choice as for the types and forms of debt and share financing on the developing and “frontier markets” with high interest rates have been considered, the definition of what kind of interest rates can be viewed as high and under which circumstances nominal interest rate and in which ones – the real interest rate is important for business. Also, the classification of debt and sharing financing is given and the comparative analysis of such (...) financing is made. Some close attention has been paid to the calculation of the real interest rate according to the inflation forecast. Recommendations concerning attracting of relatively cheap trade financing including international financial and credit organizations, development of operation factoring, financing from captive financial institutions of the exporters of the materials and equipment from the EU and the US have been grounded. The opportunity of relatively free of charge share financing through the mechanism of placing shares IPO/SPO is emphasized, exemplified by the results of placing shares on stock exchanges and their alternative platforms of issuing banks with businesses in Ukraine in 2005 – 2013. As a result, the conclusion concerning the necessity of thorough analysis of financial conditions on the developing and frontier markets before gaining such financing has been made. High interest rates within the average indicators even on the basis of prime rates do not necessarily mean absence of attractive conditions of financing. (shrink)

Climate change policy decisions are inescapably intertwined with future generations. Even if all carbon dioxide emissions were to be stopped today, most aspects of climate change would persist for hundreds of years, thus inevitably raising questions of intergenerational justice and sustainability. -/- The chapter begins with a short overview of discount rate debate in climate economics, followed by the observation that discounting implicitly makes the assumption that natural capital is always substitutable with man-made capital. The chapter explains why non-substitutability (...) matters if we are to take intergenerational justice seriously and invest aptly in mitigation. Non-substitutability simply implies that there are some forms of capital that cannot be substituted by another, and so consumption of one cannot be compensated with additional stocks of the other. The non-substitutability of critical natural capital can be defended without empirical data about preferences or the need to view the environment as a superior good, and the argument is presented through the language of keeping options open. -/- Those alive today make decisions about what natural capital to use and what to save for future. These choices are often represented as different points in a continuum of sustainability: weak sustainability is associated with a high degree of substitutability and therefore a lot of flexibility over what capital to consume, whereas strong sustainability is more stringent on substitutability. While it may be that in economical understanding weak and strong sustainability collapse into one another, philosophically the emphasis is slightly different. The chapter discusses how normative sustainability can be supported without ignoring opportunity costs and trade-offs. (shrink)

First, with respect to our personal relationship to fossil fuels, this chapter introduces arguments about whether we should or even can address our own usage of fossil fuels. This involves determining whether offsetting emissions is morally required and practically possible. Second, with respect to our relationship with fossil fuels at the national level, it discusses forms of local resistance, especially divestment and pipeline protesting. Finally, with respect to our relationship with fossil fuels at the international level, it considers two types (...) of policy. On the one hand, some have argued that we should stop most trade in oil, on the basis that most oil that is traded is not subject to the control of citizens. On the other hand, some have argued that we should price the costs of fossil fuels so that there are market incentives to avoid digging them out of the ground. (shrink)

Termination in international contracts is considered a harsh sanction that harms international trade for each breach of contract or its provisions. The interest of international trade is fulfilled in maintaining and completing performance of contract, even if with a breach rectifiable by remedy. The termination destroys the contract and results in returning goods after their dispatch in addition to the accompanying new freight and insurance expenses and administrative and health procedures necessary for the entry and exit of goods (...) and to pay then refund the price. Moreover, the goods are exposed again to damage and perishing risks. Furthermore, the international sale contract is inherently associated with other international contracts such as goods transport contract, insurance contract and documentary credit through which the price is paid. If the sale contract is terminated, its effect will apply to all other associated contracts, if not performed, which produces many issues and hardships. (shrink)

Abstract : This research work examined how major macro economic variables in Nigeria such as Gross Domestic Product (GDP), Gross Fixed Capital Formation (GFCF) and National Savings (NS) reacted to International Monetary Fund (IMF) conditionality from 1986 to 2016. Many policy makers and researchers have questioned the benefits of IMF credit facilities to developing nations. This work therefore seeks to evaluate the impact of IMF conditionality like Reduction in Government Expenditure (TGE), Devaluation of Local Currencies (RER), and Trade (...) openness (TO) on the Identified Macro Economic Variable in Nigeria. The data for the analysis were sourced from the data bank of World Bank. Granger causality test and ordinary Least Square (OLS) method were used to test the formulated hypotheses. The result revealed that IMF conditionality has significant effect on GDP, GFCF and NS of Nigeria. Devaluation of local currency is the greatest IMF conditionality that exerts great negative influence on economic growth of Nigeria. The work recommends among others that: instead of currency devaluation, protectionist policies via guided liberalization should be promoted combined with the use of fiscal policy in order to encourage local production and usage of locally produced goods. TGE that showed significant positive effect on GDP, GFCF and NS is an indication that government can positively influence the economic positions of Nigeria with the use of fiscal policy. (shrink)

Abstract: Entrepreneurship education is very imperative in Nigeria especially now that unemployment rate has reached an alarming proportion. Entrepreneurship education is not a straight-jacketed process in any nation. It is a function of many factors which include good leadership, creation of business-friendly environment, drawing academic curriculum that will inculcate skill acquisition. This study, against this backdrop, focuses on the enterepreurship education alongside trade subjects. Also, the place of entrepreneurship training, government/institutional support, societal value re-orientation, entrepreneurial career selection were interrogated. (...) The study relied heavily on content analysis technique. The position of the paper is inter alia: provision of financial assistance for self-employment through a properly articulated micro credit scheme that would enable enterprising youths obtain soft loans for the establishment of micro businesses. Beefing up electricity generation. Currently 3,231 MHW generated as against 50,000 MHW calls for serious rethinking by the Federal Government of Nigeria. (shrink)

Although the country is endowed with abundant natural resources, rates of unemployment among the youth of Chad remain alarmingly high. Aim: To determine the factors which militate against the youth engaging in entrepreneurial activities in N’Djamena, the capital city of Chad. Method: A random sample 150 young Chadian entrepreneurs was selected from a research population which comprised all of the young entrepreneurs in N’Djamena who were registered on the databases of the FONAJ, a national fund which provides financial support to (...) young entrepreneurs in Chad, and the Trade and Personal Property Credit Register (TPPCR) of Chad. Results: the paper revealed that young entrepreneurs in Chad were faced with obstacles such as a lack of funding, a lack of support from the government for SMEs, and lack of encouragement and financial support from their families. Although there are programmes to assist young entrepreneurs, it was evident from the findings that many experience great difficulty in ensuring the success and sustainability of their businesses. Consequently, they still require additional support with respect to funding, equipment, and assistance and encouragement from their families, financial institutions, and the government, in order to achieve success in their businesses. The paper concludes with appropriate recommendations for both the government and the young entrepreneurs of N’Djamena to provide relevant insights into how the youth can best be integrated into the entrepreneurial sector in the interests of combating unemployment and enabling them to make a meaningful contribution to the growth of the national economy. Uniqueness: the paper validates the extent to which the current support systems mitigate the problems faced by youth entrepreneurs. (shrink)

This article offers a characterization of what I call multiple-models juxtaposition, a strategy for managing trade-offs among modeling desiderata. MMJ displays models of distinct phenomena to...

The coronavirus disease 2019 (COVID-19) crisis ought to serve as a reminder about the costs of failure to consider another long-term risk, climate change. For this reason, it is imperative to consider the merits of policies that may help to limit climate damages. This essay rebuts three common objections to carbon taxes: (1) that they do not change behaviour, (2) that they generate unfair burdens and increase inequality, and (3) that fundamental, systemic change is needed instead of carbon (...) taxes. The responses are (1) that there is both theoretical and empirical reason to think that carbon taxes do change behaviour, with larger taxes changing it to a greater extent; (2) that undistributed carbon taxes are regressive but distributing the tax receipts can alleviate that regressivity (and, in many cases, make the overall effect progressive); and (3) that while small changes for increasing democratic decision-making may be helpful, (fundamental) change takes time and the climate crisis requires urgent action. [Open access] //// -/- La crise de lamaladie à coronavirus 2019 (COVID-19) devrait servir de rappel sur les coûts de la non-prise en compte d’un autre risque à long terme, les changements climatiques. Pour cette raison, il est impératif de considérer lesmérites des politiques susceptibles de contribuer à limiter les changements climatiques. Cet essai réfute trois objections courantes aux taxes sur le carbone : (1) qu’elles ne changent pas les comportements (2) qu’elles génèrent des charges injustes et augmentent les inégalités, et (3) qu’un changement fondamental et systémique est nécessaire au lieu de taxes sur le carbone. Les réponses sont (1) qu’il existe des raisons à la fois théoriques et empiriques de penser que les taxes sur le carbone modifient effectivement les comportements, et que des taxes plus élevées les modifient dans une plus grande mesure; (2) que les taxes sur le carbone non distribuées sont régressives,mais que la distribution des recettes fiscales peut atténuer cette régressivité (et, dans de nombreux cas, rendre l’effet global progressif); et (3) que, bien que de petits changements pour l’amélioration de la prise de décision démocratique peuvent être utiles, un changement (fondamental) prend du temps et la crise climatique exige une action urgente. (shrink)

A book chapter (about 9,000 words, plus references) presenting an act-consequentialist approach to the ethics of climate change. It begins with an overview of act consequentialism, including a description of the view’s principle of rightness (an act is right if and only if it maximizes the good) and a conception of the good focusing on the well-being of sentient creatures and rejecting temporal discounting. Objections to act consequentialism, and replies, are also considered. Next, the chapter briefly suggests that act consequentialism (...) could reasonably be regarded as the default moral theory of climate change, in the sense that a broadly act-consequentialist framework often seems implicit in both scholarly and casual discussions of the ethics of climate change. The remainder of the chapter explores three possible responses to the threat of climate change: having fewer children to reduce the number of people emitting greenhouse gases; taxing greenhouse-gas (GHG) emissions (commonly called a “carbon tax”) to discourage GHG-emitting behavior; and reducing poverty to lessen personal, familial, and community vulnerability to the harms of climate change. (shrink)

Ideal carbon tax policy is internationally coordinated, fully internalizes externalities, redistributes revenues to those harmed, and is politically acceptable, generating predictable market signals. Since nonideal circumstances rarely allow all these conditions to be met, moral issues arise. This paper surveys some of the work in moral philosophy responding to several of these issues. First, it discusses the moral drivers for estimates of the social cost of carbon. Second, it explains how national self-interest can block climate action and suggests (...) international policies—carbon border tax adjustments and carbon clubs—that can help address these concerns. Third, it introduces some of the social science literature about the political acceptability of carbon taxes before addressing a couple common public concerns about carbon taxes. Finally, it introduces four carbon revenue usage options, arguing that redistributive and climate compensation measures are most morally justified. [Open access]. (shrink)

This paper presents a Least Square Monte Carlo approach for accurately calculating credit value adjustment (CVA). In contrast to previous studies, the model relies on the probability distribution of a default time/jump rather than the default time itself, as the default time is usually inaccessible. As such, the model can achieve a high order of accuracy with a relatively easy implementation. We find that the valuation of a defaultable derivative is normally determined via backward induction when their payoffs could (...) be positive or negative. Moreover, the model can naturally capture wrong or right way risk. (shrink)

While there are a variety of moral issues that relate to carbon pricing policies, I will focus on one that has received a large amount of attention: is carbon pricing unjust? Campaigners and civil society groups, especially those involved in environmental and climate justice spaces, have rejected carbon pricing as unjust. This claim deserves some discussion and, in this perspective, I discuss a few potential dimensions of justice that could be relevant to this claim. My goal is (...) to show that, for the most important dimensions of justice, distributive and procedural, carbon pricing is not unjust as a policy instrument for addressing climate change. [Open access]. (shrink)

The protracted history of consuming carbon-based energy sources in Iran culminated in 1908 with the momentous discovery of the inaugural oil field in Masjed Soleyman. This newfound carbon-based source not only brought a lot of revenues to Iran but also, brought forth a multitude of materialities like pipelines, roads, bridges, refinery factories, tankers, and rigs into Iran. This new materiality exerted a profound influence on the perception and imagination of Iranians, particularly Iranian artists. Consequently, carbon permeated diverse (...) manifestations within Iranian artworks assuming various artistic approaches; in other words, carbon was inevitably introduced into aesthetics. Serendipitously, the ascension of Reza Shah Pahlavi to power in Iran almost coincided with the discovery of oil. Reza Shah and his successor, Mohammadreza Shah, sought to position themselves as a novel international force governing a "developed" nation for which they needed to lubricate the production-consumption cycle in Iran. To achieve this objective, they championed extensive governmental propagandas that celebrated carbon-based consumerism, and with that, they introduced aesthetics into carbon. Drawing inspiration from Walter Benjamin's notions “politicizing aesthetic” and “aestheticizing politics” and insisting that in Iran, oil/carbon is politics, this paper aims to historicize the process of carbonization of aesthetics in Iranian art realm on the one hand, and aestheticization of carbon in governmental propaganda on the other hand. This paper focuses on visual ideologies in visual artworks, including architecture, painting, and sculpture in the artwork realm and postal stamps, postcards, and paper moneys, on the other hand. (shrink)

There is a commonly made distinction between two types of scientists: risk-taking, trailblazing mavericks and detail-oriented followers. A number of recent papers have discussed the question what a desirable mixture of mavericks and followers looks like. Answering this question is most useful if a scientific community can be steered toward such a desirable mixture. One attractive route is through credit incentives: manipulating rewards so that reward-seeking scientists are likely to form the desired mixture of their own accord. Here I (...) argue that this idea is less straightforward than it may seem. Interpreting mavericks as scientists who prioritize rewards over speed and risk, I show in a deliberatively simple model that there is a fixed mixture which is not particularly likely to be desirable and which credit incentives cannot alter. I consider a way around this result, but this has some major drawbacks. I conclude that credit incentives are not as promising a way to create a desirable mixture of mavericks and followers as one might have thought. (shrink)

This study contributes to the micro-credit literature by addressing the lack of philosophical dialogue concerning the issue of trust between micro-credit NGOs and rural poor women. The study demonstrates that one of the root causes of NGOs’ contested roles in Bangladesh is the norm that they use (i.e., trust) to rationalize their micro-credit activities. I argue that Bangladeshi micro-credit NGOs’ trust in poor village women is not genuine because they resort to group responsibility sustained through aggressive (...) surveillance. I maintain so by drawing on a trust-based theoretical framework that uses various philosophical insights. Drawing on the same conceptual framework, I also contend, somewhat softening the previous claim, that if micro-credit trust is trust at all, it is at most strategic, not generalized. For being strategic, it has many undermining effects on local social solidarity norms, rendering Bangladeshi micro-credit NGOs and strategic trust an odd couple with no moral compass. To bring forth the moral impetus in micro-credit activities, I lay out some recommendations intended for organizations, managers, and policymakers, consistent with normative corporate social responsibility initiatives. However, further studies can be initiated based on this paper, suggesting its importance for future research. (shrink)

[Newspaper opinion] To give carbon storage sites the greatest chance of success, it makes sense to develop them in places where the geology has been thoroughly explored and where there is lots of relevant expertise. This would imply pumping carbon into underground storage sites in northern Europe, the Middle East and the US, where companies have spent centuries looking for and extracting fossil fuels. On the other hand, it might be important to develop storage sites in economies where (...) the current and future demand for carbon capture and storage is greatest. The regions with the best prospects are not often those with the greatest expected need. [Open access]. (shrink)

[Newspaper Opinion] Before the COVID-19 pandemic and the accompanying fall in oil prices, a carbon price would have been immediately painful for the countries that imposed it, but far better for everyone over the longer term. In this unprecedented moment, introducing a carbon price would be beneficial both now and for the future.

Critics of carbon mitigation often appeal to what Jonathan Glover has called ‘the argument from no difference’: that is, ‘If I don’t do it, someone else will’. Yet even if this justifies continued high emissions by the industrialised countries, it cannot excuse business as usual. The North’s emissions might not harm the victims of climate change in the sense of making them worse off than they would otherwise be. Nevertheless, it receives benefits produced at the latter’s expense, with the (...) result that it has more than it deserves, and that victims will have less. This enrichment is unjust; unjustly enriched agents ought to make compensation. The best form of compensation is vigorous action against climate change. (shrink)

Many real-world agents recognise that they impose harms by choosing to emit carbon, e.g., by flying. Yet many do so anyway, and then attempt to make things right by offsetting those harms. Such offsetters typically believe that, by offsetting, they change the deontic status of their behaviour, making an otherwise impermissible action permissible. Do they succeed in practice? Some philosophers have argued that they do, since their offsets appear to reverse the adverse effects of their emissions. But we show (...) that they do not. In practice, standard carbon offsetting does not reverse the harms of the original action, nor does it even benefit the same group as was harmed. Standard moral theories hence deny that such offsetting succeeds. Indeed, we show that any moral theory that allows offsetting in this setting faces a dilemma between allowing any wrong to be offset, no matter how grievous, and recognising an implausibly sharp discontinuity between offsettable actions and non-offsettable actions. The most plausible response is to accept that carbon offsetting fails to right our climate wrongs. (shrink)

On the traditional relationalist conception of singular thought, a thought has singular content when it is based on an ‘information relation’ to its object. Recent work rejects relationalism and suggests singular thoughts are distinguished from descriptive thoughts by their inferential role: only thoughts with singular content can be employed in ‘direct’ inferences, or inferences that ‘trade on identity’. Firstly this view is insufficiently clear, because it conflates two distinct ideas—one about a kind of inference, the other a kind of (...) process that grounds inferences—under the title, ‘trading on identity’. Secondly, this leaves us without a notion that can be used as an alternative to relationalism about singular thought. The first notion is no more applicable to singular than to descriptive thought. The second may help us better understand singular thought, but does so, not by replacing the view that singular thoughts are information-based, but by helping us understand the nature of information-based thought. (shrink)

Abstract: This study has effectively tackled the critical challenge of accurate calorie prediction in dishes by employing a robust neural network-based model. With an outstanding accuracy rate of 99.32% and a remarkably low average error of 0.009, our model has showcased its proficiency in delivering precise calorie estimations. This achievement equips individuals, healthcare practitioners, and the food industry with a powerful tool to promote healthier dietary choices and elevate awareness of nutrition. Furthermore, our in-depth feature importance analysis has shed light (...) on the indispensable role played by specific nutritional attributes in calorie estimation. This unveiling of crucial factors provides valuable insights for further research endeavors and practical applications. Notably, this research extends its impact beyond the immediate context by making substantial contributions to the domains of nutrition science and dietary planning. It underscores the transformative potential of artificial intelligence, demonstrating how it can revolutionize our approach to food, nutrition, and health. As the world grapples with the challenges of diet-related health issues and environmental concerns, the accuracy and precision achieved in calorie prediction through neural networks represent a significant stride towards more informed and conscientious dietary practices. In this era of data-driven decision-making, our research paves the way for healthier lifestyles, heightened nutritional awareness, and a more health-conscious society. (shrink)

Carbon offsetting remains contentious within, at least, philosophy. By posing and then answering a general question about an aspect of the morality of carbon offsetting—Does carbon offsetting make luxury emissions morally permissible?—this essay helps to lessen some of the topic’s contentiousness. Its central question is answered by arguing and defending the view that carbon offsetting makes luxury emissions morally permissible by counteracting potential harm. This essay then shows how this argument links to and offers a common (...) starting point for further examination of offsetting across various disciplines and domains, such as policy and other branches of philosophy like the ethics of risk. (shrink)

Abstract:Trust is important for a variety of social relationships. Trust facilitates trade, which increases prosperity and induces us to interact with people of different backgrounds on terms that benefit all parties. Trade promotes trustworthiness, which enables us to form meaningful as well as mutually beneficial relationships. In what follows, I argue that when we erect institutions that enhance trust and reward people who are worthy of trust, we create the conditions for a certain kind of moral progress.

The paper begins by reviewing two problems for fallibilism: the lottery problem, or the problem of explaining why fallible evidence, though otherwise excellent, is not enough to know that one will lose the lottery, and Gettier problems. It is then argued that both problems can be resolved if we note an important illocutionary force of knowledge attributions: namely, that when we attribute knowledge to someone we mean to give the person credit for getting things right. Alternatively, to say that (...) a person knows is to say that she got things right due to her own abilities, efforts and actions, rather than due to dumb luck, or blind chance, or something else. (shrink)

The fail-safe makes sure the fee is high enough to meet carbon emission reduction targets. The safeguard keeps the fee from getting any higher than needed. -/- One of the ways that we could account for the unpredictability of the price elasticity of demand for carbon would be to provide a fail-safe mechanism to ensure that we definitely stay on the carbon reduction schedule. If we keep Energy Innovation Act (HR 763) essentially as it is and scale (...) up the annual carbon fee increase by Number-of-Years-Behind-Schedule * 0.15. (shrink)

We argue that deliberative decision-making that is inclusive, transparent and accountable can contribute to more trustworthy and legitimate decisions on difficult ethical questions and political trade-offs during the pandemic and beyond.

Trong nhiều biện pháp chống biến đổi khí hậu thế giới đang nghiên cứu và áp dụng, không phải lúc nào cũng là những thứ tối tân, hiện đại và lớn lao kỳ vĩ. Có những biện pháp thuộc về cải tiến phương thức nuôi trồng, và thực tế đã cho thấy, hiệu quả đo đếm được, bằng những tín chỉ có khả năng quy đổi thành giá trị tiền tệ thông qua mậu dịch carbon. Hiệu quả này có (...) thể xem như vế số 1 của mệnh đề nguyên lý trao đổi giá trị môi sinh-tiền tệ, trường hợp tạo ra thặng dư sinh thái. Bài viết này đề cập tới một trường hợp tiêu biểu của thế giới, và xem xét cơ sở khoa học của nguyên lý vận hành, trực tiếp liên quan. Sau cùng, một số ý kiến về những điều kiện cần có chuẩn bị cho triển khai trong thực tiễn tại Việt Nam sẽ được trình bày. (Tạp chí Kinh tế & Dự báo; ngày 4-10-2023). (shrink)

Credit risk, also known as default risk, is the likelihood of a corporation losing money if a business partner defaults. If the liabilities are not met under the terms of the contract, the firm may default, resulting in the loss of the company. There is no clear way to distinguish between organizations that will default and those that will not prior to default. We can only make probabilistic estimations of the risk of default at best. There are two types (...) of credit risk default models in this regard: structural and reduced-form models. Structural models are used to calculate the likelihood of a company defaulting based on its assets and liabilities. If the market worth of a company's assets is less than the debt it owes, it will default. Reduced form models often assume an external cause of default, such as a Poisson jump process, which is driven by a stochastic process. They model default as a random event with no regard for the balance sheet of the company. This paper provides a Review of credit risk default models. (shrink)

This article begins by distinguishing between two approaches to egalitarian trade justice – the explicative approach and the applicative approach – and notes that the former has been used to defend conclusions that are less strongly egalitarian than those defended by advocates of the latter. The article then engages with the primary explicative account of trade egalitarianism – that offered by Aaron James – and argues that its egalitarian conclusions are unduly minimalistic. The aim of the article is (...) not to criticize the explicative approach, but rather to show that the arguments and commitments of its best-known defender – James – either fail to rule out, or in fact positively support, more robustly egalitarian conclusions. (shrink)

There is growing concern that decision-making informed by machine learning (ML) algorithms may unfairly discriminate based on personal demographic attributes, such as race and gender. Scholars have responded by introducing numerous mathematical definitions of fairness to test the algorithm, many of which are in conflict with one another. However, these reductionist representations of fairness often bear little resemblance to real-life fairness considerations, which in practice are highly contextual. Moreover, fairness metrics tend to be implemented in narrow and targeted toolkits that (...) are difficult to integrate into an algorithm’s broader ethical assessment. In this paper, we derive lessons from ethical philosophy and welfare economics as they relate to the contextual factors relevant for fairness. In particular we highlight the debate around acceptability of particular inequalities and the inextricable links between fairness, welfare and autonomy. We propose Key Ethics Indicators (KEIs) as a way towards providing a more holistic understanding of whether or not an algorithm is aligned to the decision-maker’s ethical values. (shrink)

Climate change and other harmful large-scale processes challenge our understandings of individual responsibility. People throughout the world suffer harms—severe shortfalls in health, civic status, or standard of living relative to the vital needs of human beings—as a result of physical processes to which many people appear to contribute. Climate change, polluted air and water, and the erosion of grasslands, for example, occur because a great many people emit carbon and pollutants, build excessively, enable their flocks to overgraze, or otherwise (...) stress the environment. If a much smaller number of people engaged in these types of conduct, the harms in question would not occur, or would be substantially lessened. However, the conduct of any particular person (and, in the case of climate change, of even quite large numbers of people) could make no apparent difference to their occurrence. My carbon emissions (and quite possibly the carbon emissions of much larger groups of people dispersed throughout the world) may not make a difference to what happens to anyone. When the conduct of some agent does not make any apparent difference to the occurrence of harm, but this conduct is of a type that brings about harm because many people engage in it, we can call this agent an overdeterminer of that harm, and their conduct overdetermining conduct. In this essay we explore the moral status of overdetermining harm. (shrink)