We often encounter people who we believe are behaving immorally. We routinely try to change minds and often donate to charitable organizations that do the same. Of course, this does not always work. In a liberal, rights-based society, we have to tolerate this. But legal entitlements to act in ways that others find immoral are inefficiently allocated. For example, some meat-eaters value eating meat less than some vegetarians would be willing to pay them to stop. While many have written about (...) the limits of the market, market design, and abuse of right, few have considered the sale of these entitlements. This article proposes a market-based solution, encouraging the sale of these entitlements under certain conditions. This would lead to improvements both on an economic efficiency analysis and on a moral analysis. (shrink)

Efficient markets are alienating if they inhibit us from recognizably caring about one another in our productive activities. I argue that efficient market behaviour is both exclusionary and fetishistic. As exclusionary, the efficient marketeer cannot manifest care alongside their market behaviour. As fetishistic, the efficient marketeer cannot manifest care in their market behaviour. The conjunction entails that efficient market behavior inhibits care. It doesn’t follow that efficient market behavior is vicious: individuals might justifiably commit to (...) efficiency because doing so serves the common good. But efficient market systems nevertheless have significant opportunity costs. The discussion yields a range of desiderata for non-alienated economic organization. (shrink)

Throughout the 20th century, market capitalism was defended on parallel grounds. First, it promotes freedom by enabling individuals to exploit their own property and labor-power; second, it facilitates an efficient allocation and use of resources. Recently, however, both defenses have begun to unravel—as capitalism has moved into its “platform” phase. Today, the pursuit of allocative efficiency, bolstered by pervasive data surveillance, often undermines individual freedom rather than promoting it. And more fundamentally, the very idea that markets are necessary to (...) achieve allocative efficiency has come under strain. Even supposing, for argument’s sake, that the claim was true in the early 20th century when von Mises and Hayek pioneered it, advances in computing have rekindled the old “socialist calculation” debate. And this time around, markets—as information technology—are unlikely to have the upper hand. -/- All of this, we argue, raises an important set of governance questions regarding the political economy of the future. We focus on two: How much should our economic system prioritize freedom, and to what extent should it rely on markets? The arc of platform capitalism bends, increasingly, toward a system that neither prioritizes freedom nor relies on markets. And the dominant critical response, exemplified by Shoshana Zuboff’s work, has been to call for a restoration of market capitalism. Longer term, however, we believe it would be more productive to think about how “postmarket” economic arrangements might promote freedom—or better yet, autonomy—even more effectively than markets, and to determine the practical steps necessary to realize that possibility. (shrink)

Problem statement. Modern marketing requires effective tools to attract and retain customers, as well as improve communication with the audience. In this context, the use of artificial intelligence, in particular, ChatGPT (Generative Pre-trained Transformer), can be a promising innovative solution. However, the conclusions about the potential benefits and limitations of using ChatGPT in marketing are ambiguous, due to the little experience gained in this area. The purpose of the study is to assess the potential of using ChatGPT in marketing strategies, (...) to study the opportunities and challenges it presents for improving the efficiency of communication with customers and brand development. The methodological basis of the study is based on modern research on marketing and artificial intelligence and analysis of the results of using ChatGPT in real marketing campaigns. The main hypothesis of the study is the assumption that the use of ChatGPT in marketing can improve the quality of customer service, increase brand engagement, and increase customer loyalty. Summary of the main research material. The study examines the results of using ChatGPT in marketing strategies, in particular in online communications, especially in areas where personal interaction with customers is important. The working hypotheses were confirmed based on the analysis of data and information collected during the study. Possible limitations and challenges related to the implementation of ChatGPT in marketing practices were identified. The originality and practical significance of the study lies in the fact that the analysis helped to reveal the potential of using ChatGPT in marketing strategies and made it possible to formulate recommendations on the optimal use of this technology to attract and retain customers. Conclusions and prospects for further research. The conducted research allowed us to state that the use of ChatGPT in marketing contributes to increasing the efficiency of marketing activities of the enterprise in general and improving communications with customers in particular. Further research may include the development of new algorithms and strategies for the optimal use of artificial intelligence in marketing. (shrink)

A number of writers have drawn on Hayek’s epistemic defence of market institutions to argue that free-markets and tort law are best placed to overcome the knowledge problems associated with the environmental sphere. This paper argues to the contrary, that this Austrian School approach itself suffers from significant knowledge problems. The first of these relates to the ability of Austrian economics to assign victim compensation and the second to the difficulty of establishing causation in complex environmental problems. The paper (...) will also show how alternative approaches may not suffer from these epistemic challenges and are better placed to overcome them. (shrink)

The aim of the article. The aim of the article is to identify the components of social and economic systems life cycle. To achieve this aim, the article describes the traits and characteristics of the system, determines the features of social and economic systems functioning and is applied a systematic approach in the study of their life cycle. The results of the analysis. It is determined that the development of social and economic systems has signs of cyclicity and is explained (...) methodologically by the axiomatics, rules and laws. Understanding of circular patterns has been formed long ago and now is recorded by scientists monitoring the properties of natural and artificial environment of human activity. During the study, it was found out that in scientific literature there is no unified description of the life cycle elements of social and economic systems at personal, micro, meso, macro and global levels. The paper investigates the cyclical patterns in multilevel social and economic systems for a human, employee, family, product, company, city, industry, elite, macroeconomic indicators, humanity, global processes, global economic system and the Universe. It is noted that at grass-roots administrative levels of the global environment of a human life activity system, a thesis about the cyclicity of development and the stages of the life cycle is considered by a wide circle of scientists and is doubtless. On hierarchically higher management levels of the global environment of human activity system, the scientists noticed the similar patterns of the cyclical nature. Problematic and discussion questions about cyclic development of social and economic systems are identified: the uncertainty of the driving force source of repeated changes; the vague distinction between systemic (internal) and off-system (external) influence on development; the lack of a unified description of development nature at different managerial levels; the use of different descriptive terms for the same constituent elements of repeated changes (period, stage, phase, wave, cycle); the uncertainty of the number of repeated changes constituent elements; the absence of an identification mechanism of the exact time of changes in the constituent elements of repeated changes; the surface description of out-of-system period of the subjects activity («before-system» period of creation and «after-system» period of liquidation); attaching more importance to primary and less importance to ultimate component elements of the repeated changes; the lack of reliable mechanism for predicting and forecasting the dynamics of constituent components of repeated changes. It is noted that all social and economic systems are developed within repeated changes and they have the same attributes of cyclicity: the fluctuation of indicators is marked that characterize the condition of the subject; the presence of system (from creation to liquidation) and out-of-system (creation – «design» and liquidation – «disposal») periods are noted; the subjects are created by the actions of other subjects (that is, subjects do not arise «out of nowhere», but are the result of actions of other subjects – «constructors»); after cessation of subjects functioning, their resources are used by other subjects (that is, the subjects do not disappear «nowhere», and they are transformed into the resources of other subjects – «recovery»); a unidirectional life cycle from «birth» to «death» is observed in the subjects; the subjects do not have to undergo the whole life cycle (each time might be the last); the subjects display similar changes of the indicators during their activity; ascending, peak and descending fluctuations of indicators are observed in the subjects; minor fluctuations occur in the constituent elements; the subjects have individual nature of indicator fluctuations and duration of activity. Conclusions and directions of further researches. The scientific novelty of the study is identification structure of life cycle of social and economic system with definitions of: common («before-system state», «growth», «stabilization», «reduction», «after-system state») and specific («creation», «slow growth», «rapid growth», «growth stabilization», «short stabilization», «rapid reduction», «slow reduction», «liquidation») constituent elements of repeated changes; marginal borders of indicators; dynamics of constituent elements of life cycle; key points of changing nature of the indicators dynamics. Identification of the life cycle of social and economic systems characterizes potentially possible limits of their activity in time and provides the possibility of further research of aspects of the cyclical development for methodological basis formation and the development of applied measures of systemic development in the areas of marketing and management innovations. (shrink)

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

The authors of the book have come to the conclusion that it is necessary to effectively use modern management mechanisms and development strategies of economic entities in order to increase the efficiency of their activities. Basic research focuses on diagnostics threat of bankruptcy, assessment of bioenergy potential, intellectual property, efficiency of corporate governance, use of information support, ensuring competitiveness of banking institutions, functioning of the tax system and its decentralization, assessment of the investment climate and investment risks, functioning of a (...) small business. The research results have been implemented in the different models of cluster structures, mechanisms for monitoring the quality of health care, predicting the convergence of economic development, innovative development models, and development strategies of economic entities in various sectors of the economy in the context of euro integration. The results of the study can be used in decisionmaking at the level of international business, ministries and departments that regulate the processes development of economic systems, ensuring stability and efficiency. The results can also be used by students and young scientists in modern concepts of the development of economic entities in the context of institutional transformations of the global environment. (shrink)

One of the negative legacies of the apartheid era is a markedly skewed mining sector that favours the established companies, and almost completely neglects small-scale mining enterprises. Though a major source of revenue for South Africa(SA), the current state of the mining sector does not directly benefit the previously disadvantaged who dominate small-scale mining. The aim of this study is to explore the support structures and success factors relevant to small scale mining entrepreneurs in South Africa. To achieve this end, (...) the qualitative research approach was utilized to collect and analyze the data. The results affirmed the availability of a comprehensive support structure for aspiring small-scale mining entrepreneurs. A number of factors not limited to having a marketing ethos, requisite business knowledge, possession of appropriate equipment, and the ability to mine effectively and efficiently were reported as being central to successful small-scale mining. Furthermore, it is acknowledged that having passion and the right work ethics worked in favour of successful small-scale entrepreneurs. (shrink)

In the context of Ukraine’s membership in the WTO, the functioning of a free trade area with the EU, the opportunity for agricultural producers to obtain a larger share of the value added is primarily linked to the intensification of trade in domestic livestock products and their processing products. However, their production is one of the high-risk areas and requires a set of measures aimed at ensuring proper quality. Without effective solution of the problem of quality of livestock products it (...) is impossible to ensure its competitiveness in the world market, to guarantee the rational nutrition of the population of the country, the availability of the necessary components for the vital activity of the human body. The aim of the research is to determine the socio-economic factors for ensuring the quality of livestock products in Ukraine. The scientific and specific research methods were used to solve the tasks set in the work: the historical method; abstraction method; method of comparative analysis; system-structural method. The main producer of livestock products in Ukraine are households. They do not have the capabilities to implement technologies of keeping, feeding, veterinary services, programs prerequisites for guaranteeing the safety of products, adherence to the HACCP principles. In Ukraine, real technical, economic and organizational-economic prerequisites for ensuring the safety and quality of livestock products are created only in the poultry meat sector. During 2015-2017, the trends in production of almost all types of livestock products except poultry and honey were identified. One of the reasons for this situation was, firstly, decreasing in capital investment in the livestock sector, and secondly, the low profitability of production of livestock products in the context of accelerated growth in prices for resources. It is proved that insignificant market (price) incentives should be supplemented with instruments of state assistance to improve the quality parameters of products on the basis of specialized enterprises. The necessity of state support for the production of livestock products based on small and medium-sized enterprises is substantiated. This will effectively combine the processes of increasing the production of livestock products with the environmental friendliness of production and steady improvement of quality. It is shown that the low quality of certain livestock products in Ukraine is caused by insufficient living standards of the population and low incomes of the majority of households, which cause them to consume low quality products. It is determined that the problem of guaranteeing the quality of livestock products in Ukraine has deep roots cause due to the influence of socio-economic factors. Therefore, a comprehensive approach is needed to solve it, which is not limited to improving the efficiency of the state control system and successfully harmonizing of the Ukrainian technical regulation system with the European one. The problem of low quality and the danger of livestock production requires a systematic approach for its solution, which is not limited, in particular, by measures to improve the system of state control and ensure approximation of the domestic technical regulation system to the European one. In Ukraine, major high-quality animal products are economically inaccessible to a large part of households. The projected increase in safety parameters and a certain improvement in the quality of livestock products as a result of the implementation of regulations adopted in 2014-2017, will necessarily lead to an increase in its value, and therefore may lead to a decrease in market demand and even greater inaccessibility of these products to people. All this can only aggravate the situation with guaranteeing the food security of the country, forming the prerequisites for increasing the intellectual capacity of the nation. (shrink)

This review essay of Economics Rules situates Dani Rodrik’s contribution with respect to the 2007–2008 global economic crisis. This financial meltdown, which the eurozone did not fully recover from before the Covid-19 pandemic, led to soul- searching among economists as well as a call for heterodox economic approaches. Yet, over the past decade, instead the economics profession has maintained its orthodoxy. Rodrik’s Economics Rules offers a critique of the economics profession that is castigating but mild. It calls for economists to (...) use more and diverse models without becoming wedded to any single model or an overarching vision. Yet Rodrik ratifies many of the benchmark models standard to orthodox economics and provides little ground for a fundamental rethinking of the discipline. This essay analyses the conservatism underlying Rodrik’s approach, which upholds general equilibrium theory and rational expectations underlying the efficient market hypothesis. It argues that the economics discipline’s scope-creep to maintain its applicability to all human decision-making, and its acceptance of all-inclusive utility functions, crowds out moral sentiments and civic virtue. Thus. it argues that rather than urging economists simply to be more cautious in their application of models to address particular social concerns, instead economists must recognise their discipline’s inherent limitations. (shrink)

Honors Research: PPE @ UPenn | This thesis seeks to address some of the most central questions to the fields of political philosophy and political economy. How can social order and government develop from anarchy under standard economic assumptions of rationality, where all agents act strictly in their own interests? What are the deontological limits to the State’s use of force such that political legitimacy is maintained, and how do these ethical boundaries of government relate to moral obligations conferred (...) upon individuals? Finally, what sets of policies and social institutions ought the State implement to achieve the best welfare outcomes for a society, and is there a necessary conflict between policy consequentialism and deontological ethics? This thesis will first show that a laissez-faire capitalist social order spontaneously emerges from the State of Nature as a result of mutual self-interest between rational agents, with the institution of government being a mere product of market forces that is best modeled as a locally-monopolized, excludable, collective entity with global competition. Then, this thesis will defend a theory of natural rights on the basis that persons are normatively separate, before establishing that laissez-faire capitalism and its contractual form of government are uniquely in compliance with these universal moral standards of conduct that predate the institution of any state. Finally, it will be argued in this thesis that the key tenets of laissez-faire capitalism - strong individual rights to life, liberty, and property - produce maximal human welfare from both individualist and collectivist aggregations, before such conclusions are translated into a foundation for limited government. These arguments serve to solidify libertarianism as both the dominant political philosophy and the globally convergent equilibrium of political organization, while also demonstrating that laissez-faire capitalism is the optimal form of social order. (shrink)

Michael Sandel’s latest book is not a scholarly work but is clearly intended as a work of public philosophy—a contribution to public rather than academic discourse. The book makes two moves. The first, which takes up most of it, is to demonstrate by means of a great many examples, mostly culled from newspaper stories, that markets and money corrupt—degrade—the goods they are used to allocate. The second follows from the first as Sandel’s proposed solution: we as a society should deliberate (...) together about the proper meaning and purpose of various goods, relationships, and activities (such as baseball and education) and how they should be valued. -/- Public philosophy is a different genre from academic philosophy, but that does not mean that it cannot be held to high standards. In my view, while this book does provide food for thought and food for conversation, it nevertheless has significant failings as a work of public philosophy rather than journalistic social activism on the model of Naomi Klein’s No logo (1999). (shrink)

The objective of this research is to empirically test a research model on the effect of consumer economic nationalism on consumers’ attitudinal and behavioral responses to the marketing of locally produced foods. Data was collected from a sample of Ghanaians through an online survey using a structured questionnaire. Using structural equation modelling to analyse the data, the study revealed that cognitive and affective involvement influences product familiarity. Also, product familiarity and economic nationalism influence consumers ‘overall attitude towards locally produced foods. (...) Finally, the overall attitude towards the product and economic nationalism both influence consumer buying intention of locally produced foods. This study was limited to the Ghanaian geographical context, thus, for a broader assessment of the robustness of the research model, future studies should undertake a cross-national comparison. The findings provide practitioners with the strategies for influencing consumer attitudes and intentions towards locally produced foods. For policymakers, the findings provide input on strategies for altering consumers’ attitudes and intentions to patronize locally produced foods. Considering the paucity of research in understanding the role of economic nationalism in influencing consumer attitude and intention towards locally produced foods, this study makes a compelling contribution to the literature by incorporating the economic nationalism theory into the theory of planned behavior. (shrink)

The ontology of marketing, particularly the question of what products and brands are, is still largely unexplored. The ontological status of brands hinges on their relationship with products. Idealists about brands see perceptual or cognitive acts of consumers grouped under the heading ‘brand awareness’ or ‘brand image’ as constitutive for the existence of brands so that, in their view, tools of the marketing mix can influence relevant mental dispositions and attitudes. Brand realists, on the other hand, reject the view of (...) brands as mere marks or names and interpret them as emergent products with properties that afford branding in the sense of Gibson’s ecological psychology. Brand strength is a function of the degree to which brands occupy defensible niches in product space. Branding as a process involves changing external or internal boundaries of products. Several arguments are proposed in favor of brand realism. The fragments of an ontology of marketing are developed in a broadly Aristotelian framework. Brand realism has significant implications for a new understanding of issues ranging from the effects of advertising to financial brand valuation, the nature of trademarks, and marketing strategy in general. It permits one to treat brand equity as a real phenomenon not dependent on associations, attitudinal states such as brand loyalty, or spurious constructs such as brand character or personality. (shrink)

According to an often repeated definition, economics is the science of individual choices and their consequences. The emphasis on choice is often used – implicitly or explicitly – to mark a contrast between markets and the state: While the price mechanism in well-functioning markets preserves freedom of choice and still efficiently coordinates individual actions, the state has to rely to some degree on coercion to coordinate individual actions. Since coercion should not be used arbitrarily, coordination by the state needs to (...) be legitimized by the consent of its citizens. The emphasis in economic theory on freedom of choice in the market sphere suggests that legitimization in the market sphere is “automatic” and that markets can thus avoid the typical legitimization problem of the state. In this paper, I shall question the alleged dichotomy between legitimization in the market and in the state. I shall argue that it is the result of a conflation of choice and consent in economics and show how an independent concept of consent makes the need for legitimization of market transactions visible. Footnotes1 For helpful comments and suggestions I am most grateful to Marc Fleurbaey, Alain Marciano, Herlinde Pauer-Studer, Thomas Pogge, Hans Bernhard Schmid, to seminar or conference participants in Aix-Marseille, Tutzing, Paris, and Amsterdam, and to two anonymous referees. (shrink)

Efficiency requires legislative political institutions. There are many ways efficiency can be promoted, and so an ongoing legislative institution is necessary to resolve this choice in a politically sustainable and economically flexible way. This poses serious problems for classical liberal proposals to constitutionally protect markets from government intervention, as seen in the work of Ilya Somin, Guido Pincione & Fernando Tesón and others. The argument for the political nature of efficiency is set out in terms of both Pareto optimality and (...) aggregate welfare maximisation, and similar arguments can be generalised to other social values. (shrink)

Jason Brennan and Peter Jaworski argue in recent work that “semiotic” or “symbolic” objections to markets are unsuccessful. I counter-argue that there are indeed some semiotic limits on markets and that anti-commodification theorists are not merely expressing disgust when they disapprove of markets in certain goods on those grounds. One central argument is that, contrary to what Brennan and Jaworski claim, semiotic arguments against markets do not depend fundamentally on meanings that prevail about markets. Rather, they depend on the (...) meanings that attach to various goods, meanings that give us moral bases on which to make judgments about their prospective commodification. (shrink)

The market failures approach to business ethics has recently garnered substantial critical attention (see, e.g., Cohen and Peterson 2019; Moriarty 2020; Steinberg 2017; Hsieh 2017; von Kriegstein 2016; Smith 2018; Endorfer and Larue 2022; Singer 2018). Though precursors of this view can be found in the literature (e.g., McMahon 1981; Friedman 1970), it was Joseph Heath (2004, 2006, 2014, 2023) who developed the approach and gave it its name. The market failures approach (henceforth: MFA) is concerned with the (...) ethical obligations of managers of firms (Heath 2014, 69). Roughly, it holds that managers ought not to conduct their businesses in a way that exploits market failures. “Market failure” is a technical term, meaning any failure of the conditions of the first fundamental welfare theorem, sometimes called the “Pareto conditions” (see Arrow 1951). The theorem states that if the Pareto conditions hold, then the market equilibrium will use society’s scarce resources efficiently, meaning that no one could be made better-off without making anyone else worse off. Efficiency, according to Heath (2014, chapter 7), is the implicit morality of the market. We coordinate much of our shared activity using markets, Heath claims, because of their ability to produce efficient results. Markets are good forms of social organization, according to Heath, because they are the best way to promote our values given empirical facts about the frailties of human psychology and the informational constraints that we face. As such, managers ought not compromise the very conditions that justify a market economy by profiting from breakdowns in the market’s efficiency. Managers are permitted to maximize profits, so long as they do not violate the market’s norm of efficiency in so doing. This is because the fundamental justification for the profit motive is that it is necessary for the operation of the price system which is essential to the efficiency properties of markets. In this paper, I will argue that the MFA is more general than even Heath himself claims. The MFA describes the professional obligations of managers, but the view I develop, the generalized market failures approach, describes the obligations of all market participants. Since efficiency is the implicit morality of the market, it binds not just managers, but all market participants, including consumers, investors and workers. Market participants are permitted to maximize the benefit they gain from market interactions, as long as they do so in a way that does not take advantage of any market failures. Generalizing the MFA in this way has three benefits: first, we gain a unified understanding of the ethics of non-managerial market roles; second, we will develop an even better understanding of the duties of managers; finally, it gives us the resources to respond to some familiar objections to the MFA found in the literature. In the next section, I will further motivate the MFA and explain how this motivation can be easily generalized to other market roles. Importantly, one can avoid benefiting from a market failure in two distinct ways: by avoiding transactions that exploit market failures or by transacting in such markets and then remediating the harm done, by compensating those negatively affected by the market failure. This section concludes by discussing how the remediation duties are to be split between the transacting parties and how to identify the parties to whom compensation is owed. In section 3, I use the tools of the generalized MFA to develop a unified ethics of consumption, investment and labor, respectively. This is the basis of a grand abductive argument for the generalized MFA. The view is strongly supported by the fact that it provides attractive and unifying explanations of our obligations in domains as variegated as carbon offsetting, CEO compensation, the reparations white Americans owe to black Americans and occupational licensure. Section 4 briefly concludes. (shrink)

In this essay, I challenge Charles Mills’s use of the category of moral personhood for advancing a robust anti-racist political critique in nonideal circumstances. I argue that the idea of the moral equality of persons is necessary but insufficient for reparative justice. I enrich the normative basis of political critique to include: (1) a clarification of what the public recognition of moral personhood can legitimately entail as a requirement of justice enforceable by the state, especially with respect to economic reforms (...) that advance equal opportunity and (2) a conception of non-alienated labor that assails identity-based occupational segregation in the labor market. These additional components do not exhaust the plausible bases for political critique, but enrich it in a way that the idea of moral equality alone cannot. (shrink)

Politics, Philosophy & Economics, Volume 21, Issue 2, Page 165-189, May 2022. It is generally acknowledged that a certain amount of state intervention in health and health care is needed to address the significant market failures in these sectors; however, it is also thought that the primary rationale for state involvement in health must lie elsewhere, for example in an egalitarian commitment to equalizing access to health care for all citizens. This paper argues that a complete theory of justice (...) in health can be derived from a commitment to correcting market failure, or in other words promoting Pareto-efficiency, in the domain of health. This approach can address familiar problems around access to care, as well as problems related to resource allocation and rationing, the control of health care costs, and the foundations of public health. Egalitarian theories of justice in health cannot make sense of the depth and pervasiveness of state involvement in health and health care; only a theory rooted in the need to correct market failure can. (shrink)

This paper proposes that goods (the things exchanged in financial transactions and an object of study in economics) should be individuated according to a two-place relation constituted by an object and a description. Several of the problems in contemporary philosophy of economics involve shifting focus from objects to descriptions, while certain phenomena central to micro-economics, market regulation, and political economy require consideration of one of the two places. The paper argues thatby considering both constituents in a relation, many of (...) those issues can be more effectively addressed, communicated, and even resolved. The issues that may be so resolved include the seminal discussions of transformable goods, or goods whose existenceor relevant properties are impacted by their means of acquisition (e.g., buying, giving, awarding, etc.). The two-place approachto individuation shows how the cases of transformable goods can be more effectively addressed without incurring problematicmetaphysical commitments which may spiral out into confusion in the ethical and social scientific literature. The paper thenargues that the two-place approach can be leveraged into more fruitful discussion in microeconomics and the ongoing literature inthe metaphysics and ethics of markets. -/- . (shrink)

Status of the national currency of Ukraine exchange rate has been characterized as unstable in recent years. Herewith, the Government has not implemented decisive measures on its stabilization, as a rule, underestimating the importance of the Hryvnia exchange rate stability for the successful economic growth in terms of socio-economic transformations. It should also be noted that in modern conditions among scientific and methodical approaches to the State exchange rate formation mechanisms some uncertainty regarding basic and additional tools for such regulatory (...) activities allocation is still persist. The problem relevance is exacerbated by the lack of effective policy (coordination between the NBU and the Government actions) regarding the national currency stabilization as an indispensable prerequisite for an effective macroeconomic development. These circumstances determine the importance of factors influencing the national currency exchange rate and its regulation tools research, as well as new organizational and economic mechanisms for the national currency exchange rate in Ukraine stabilization identification. In the emerging market economy conditions formation of the efficient State currency exchange-rate regulation system provides an opportunity not only to stabilize its exchange rate in different socio-economic conditions, but to create the basis for improvement the country economic development as a whole. Given this, the issue of effective tools for the national currency exchange-rate regulation by the state determination is of theoretical, practical and methodological significance. This emphasizes the relevance of further scientific-methodological and practical principles in-depth development for the national currency exchange-rate regulation. (shrink)

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

The ‘limits of markets’ debate broadly concerns the question of when it is (im)permissible to have a market in some good. Markets can be of tremendous benefit to society, but many have felt that certain goods should not be for sale (e.g., sex, kidneys, bombs). Their sale is argued to be corrupting, exploitative, or to express a form of disrespect. InMarkets without Limits, Jason Brennan and Peter Jaworski have recently argued to the contrary: For any good, as (...) long as it is permissible to give it for free, then it is permissible to give it for money. Their thesis has led to a number of engaging objections, and I leverage recent work on the nature of feasibility within political philosophy to offer a new challenge.I argue that feasibility offers a constraint on which markets can be permissibly implemented. Though it may be possible to create a morally acceptable version of an otherwise repugnant market, some of these markets may be infeasible, and so we are not permitted to implement them. After laying out this challenge, I consider several replies. They concern the relevance of feasibility, and whether any markets really are infeasible. This provides an opportunity to explore the dangers of pursuing the infeasible and with markets generally. I conclude by considering what might lead us to pursue these markets despite their infeasibility, or how knowledge of infeasibility may prove useful regardless. (shrink)

The resources and resource potential of the innovative component of nanoeconomics are analyzed. The factors of production – classical types of resources such as land, labor, capital and technology – are described. Ways of influencing the security resources of nanoeconomics within the innovation paradigm are evaluated. The purpose of the study is to identify the factor of nanoeconomics in the formation of resource security potential in the innovation paradigm. To achieve this goal, the following tasks were set: to characterize the (...) importance of the land resource as a factor in the potential of economic nanosystems; to highlight the importance of capital as a factor of nanoproduction and an indicator of the innovation paradigm; to determine the labor resource in the development of innovative nanosystems; to analyze the intellectual potential of nanoeconomic development of the innovation paradigm; to identify clusters of innovative nanopotential in the regions of countries with transition economies. Each resource is examined separately with the first analysis of a resource security assessment such as land. The other resource under consideration is labor. Demographic factors become decisive in describing the development of labor resources. The capital factor allows the formation of independent economic systems, when the state budget affects the possibility of developing science, education and health care. A number of methods were applied during the study: methods of induction and deduction (to assess the importance of the innovation paradigm for the development of nanoeconomics); system analysis and structural approach (to determine the aggregate state of production factors); method of comparing the quality of production factors in market economies and in developed countries; an observation method (for assessing the state of resources in different countries); method of cluster analysis (to determine the existence of innovation-territorial regions in countries with economies in transition). The analysis is carried out to identify the conditions of the impact of production factors on the innovative paradigm of nanoeconomics. It reveals theoretical approaches to the formation of nanoeconomics and its active development. As a result of the study of intellectual and resource potential of security, a cluster analysis was carried out to assess the conditions for the formation of innovation-territorial regions. This study allows to understand the role of production security factors in the formation of the innovation paradigm and the efficiency of the development of nanoeconomics. The way of providing the basis for the development of nanoeconomics in the form of efficient use of production factors is considered as a perspective. (shrink)

Purpose ‐ The purpose of this paper is to explore the "resource curse" problem as a counter-example of creative performance and innovation by examining reliance on capital and physical resources, showing the gap between expectations and ex-post actual performance that became clearer under conditions of economic turmoil. Design/methodology/approach ‐ The analysis uses logistic regressions with dichotomous response and predictor variables on structured tables of count data, representing firm performance as an outcome of capital resources, physical resources and innovation where appropriate. (...) Findings ‐ Key findings relevant to economic and business practice follow. First, a typical characteristic of successful Vietnamese firms in the transition period is their reliance on either capital resources or physical asset endowments. Second, poor performers exhibit evidence of over-reliance on both capital and physical assets. Third, firms that relied on both types of resources tended to downplay creative performance. Some evidence suggests that firms face more acute problem caused by the law of diminishing returns in troubled times. Fourth, the "innovation factor" has not been tapped as a source of economic growth. Research limitations/implications ‐ This study has some limitations. The size of the survey sample is approximately 150 firms, while the potential sample of > 300 should be possible in the future. When the size increases, the research could be expanded to include further variables that will help investigate more deeply into the related issues and business implications. With regard to the implications of the study, the absence of innovations has made the notion of "resource curse" identical to "destructive creation" implemented by ex-ante resource-rich firms, and worsened the problem of resource misallocation in transition turmoil. The Vietnamese corporate sector's addiction to resources may contribute to economic deterioration, through a downward spiral of lower efficiency leading to consumption of more resources. Practical implications ‐ Insights obtained from this study could save transition economies' resources which have almost always been considered sine qua non before any critical major policymaking, while this is not necessarily true, and in many cases, even counterproductive. Originality/value ‐ Original data set on Vietnam stock market are collected, processed, prepared and used by the authors. Original design by the authors for regression equations with dichotomous predictor variables: dependence on endowed physical assets, reliance on capital resources and significant signs of creative performance/innovations. Original idea of viewing "resource curse" as absence of innovation and due to uncreative "destructive creation" of poor-performing commercial operations by resource-rich firms is used in the paper. We have searched the literature in business research and found that the empirical results have not been previously reported. (shrink)

In Free Market Fairness, John Tomasi tries to show that ‘thick’ economic liberties, including the right to own productive property, are basic liberties. According to Tomasi, the policy-level consequences of protecting economic liberty as basic are essentially libertarian in character. I argue that if economic liberties are basic, just societies must guarantee their fair value to all citizens. And in order to secure the fair value of economic liberty, states must guarantee that citizens of roughly similar dispositions and talents (...) are roughly equally able to use their economic liberties to develop and pursue a conception of the good. This, I will argue, is a very demanding standard that requires aggressive taxation and redistribution. (shrink)

After Marx, dissenting economics almost always used 'the labour theory' as a theory of value. This paper develops a modern treatment of the alternative labour theory of property that is essentially the property theoretic application of the juridical principle of responsibility: impute legal responsibility in accordance with who was in fact responsible. To understand descriptively how assets and liabilities are appropriated in normal production, a 'fundamental myth' needs to be cleared away, and then the market mechanism of appropriation can (...) be understood. On the normative side, neoclassical theory represents marginal productivity theory as showing that (a metaphorical version of) the imputation principle is satisfied ('people get what they produce') in competitive enterprises. Since that shows the moral commitment of neoclassical economics to the imputation principle, the labour theory of property is presented here as the actual non-metaphorical application of the imputation principle to property appropriation. The property-theoretic analysis at the firm level shows how the neoclassical (and much heterodox) analysis in terms of 'distributive shares' wholly misframed the basic questions. Finally, the paper shows how the imputation principle (modernised labour theory of property) is systematically violated in the present wage labour system of renting persons. The paper can be seen as taking up the recent challenge posed by Donald Katzner for a dialogue between neoclassical and heterodox microeconomics. (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)

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

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

The entire world community, since 2019, affected by the global pandemic COVID-19. The pandemic caused by this virus, led not only to significant human losses worldwide, but also imposed significant restrictions on the socio-cultural life of the population and radically changed the trends of the global economy and the further functioning of socio-economic systems. Now, huge economic losses have been recorded, which affected almost all sectors of the national economy and the state in the short, medium and long term. However, (...) it is important to consider individual economic development forecasts and measures developed by the governments of the world’s leading countries to overcome the negative effects of the COVID-19 pandemic. This will allow to form a real vision of the possible course of economic processes that will directly affect the living standards of the population and the restoration of socio-economic systems. To further restore the socio-economic system it is necessary to developing modern strategies and forecasts to ensure the effective functioning of economic entities through innovation, digitalization, marketing and use of competitive advantages in the consumer markets in conditions of limited resources, development promising sectors of the national economy, etc. The purpose of writing this scientific monograph is to substantiate the theoretical and methodological foundations, the formation new strategies for restoring socio-economic systems and overcoming the negative consequences of the caused by the COVID-19 pandemic, taking into account changes and challenges in the modern world. The object of the authors’ research is the process of forming new approaches, strategies and mechanisms for managing socio-economic systems in the context of the COVID-19 pandemic, eliminating the negative consequences in the activities of economic entities. The subject of research is socio-economic, organizational and institutional processes of formation and effective implementation of approaches, strategies and mechanisms for managing socio-economic systems; stabilization of the functioning of economic entities; introduction of innovative processes and digital technologies; implementation of best practices in the managing of socio-economic systems using world experience in various sectors of the economy caused by the COVID-19 pandemic. (shrink)

The financial turmoil of the past several years has caused many to question the integrity, stability, and very purpose of financial systems which, in today’s world, represent a unique blend of primarily capitalism but also aspects of socialism and collectivism as well. A key factor contributing to this sustained period of economic upheaval has been the uncertainty surrounding capital markets – the fuel that powers all modern economies. Capital markets have, in the minds of many, come to represent the embodiment (...) of greed, unrestrained egoism, and exploitation of the vulnerable – conceptions at complete odds with the central values of social justice as set forth in both Christian and Jewish primary sources: caring for the poor, protecting the weak, and the promotion of justice. -/- In this paper I argue that capital markets, rather than being a means for the powerful to exploit the weak, have in fact become a force for social good in the aggregate. Indeed capital markets are, in fact, a social contract and as such must be governed by a set of normative ethical principles – both self imposed, and imposed by government regulation. I explore the ethical difficulties that have led to the systemic problems and market failures that lead to not only this current financial crisis, but literally all financial crises over the past eight hundred years. Capital markets, left to their own devices and without both self and governmental oversight, quickly become hotbeds of manipulation and exploitation. In order for markets to function properly, principles of basic fairness must become normative. It is when capital markets become unfair and unjust, that they fail. Thus, these markets must be structured in such a way as to 1) promote Rawl’s “Justice as Fairness” principle and 2) align the interests of market participants to produce universally beneficial market efficiency and stability. -/- Finally, I propose concrete ways in which the power of capital markets may be harnessed to promote the central moral values of Christian tradition and be used by people of faith to promote the ideals of social justice. (shrink)

The World Economic Forum notes that there is an economic gap between Indonesia and Malaysia every year as seen from GDP per capita. The economic disparity between the two countries caused differences in available employment opportunities. Limited employment opportunities in Indonesia cause an increase in unemployment in Indonesia. The high unemployment rate in West Kalimantan is the main cause of the migration of Indonesians to Malaysia with the aim of carrying out economic and trade activities in the Serikin Market (...) which is located in Sarawak, East Malaysia. The market only takes about 15 minutes from the Jagoi Babang. This study used primary data collected by using in-depth interview and observation techniques which was analyzed qualitatively. The study found that in general the migration patterns of Indonesian traders who traded in the Serikin Market practiced non-permanent mobility patterns. The opportunities of cross-border trade carried out by Indonesian traders are reducing unemployment, facilitating product marketing, increasing income. While the challenges faced are the inadequacy of the road infrastructure, the quality of merchandise that is not good, the unavailability of lodging for Indonesian traders in the border area of Jagoi Babang, shop rental prices are relatively expensive. Basically, this research is to provide empirical data regarding to opportunities and challenges of cross-border traders that will be able to be used for future research related to strategies in managing cross-border trade Hopefully, this research will contribute significantly to generate an effective migration policy in order to minimize transnational crimes. (shrink)

The authors of the book have come to the conclusion that it is necessary to effectively use modern approaches the management of competitiveness the economic entities in order to increase the efficiency of using the resource potential, formation of competitive advantages and development strategies. Basic research focuses on economic diagnostics of ensuring the competitiveness of economic entities, marketing and logistics, analysis of energy-efficient potential, assessment of development potential. The research results have been implemented in the different models of inventory management, (...) corporate social responsibility management, business process management and project management. The results of the study can be used in decision-making at the level the economic entities in different areas of activity and organizational-legal forms of ownership, ministries and departments that promote of development the economic entities and increase their competitiveness. The results can also be used by students and young scientists in modern concepts and mechanisms for management of competitiveness the economic entities in the context of efficient use the resource potential and introduction of modern innovations. (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)

The republican tradition has long been ambivalent about markets and commercial society more generally: from the contrasting positions of Rousseau and Smith in the eighteenth century to recent neorepublican debates about capitalism, republicans have staked out diverse positions on fundamental issues of political economy. Rather than offering a systematic historical survey of these discussions, this chapter will instead focus on the leading neo-republican theory—that of Philip Pettit—and consider its implications for market society. As I will argue, Pettit’s theory is (...) even friendlier to markets than most have believed: far from condemning commercial society, his theory recognizes that competitive markets and their institutional preconditions are an alternative means to limit arbitrary power across the domestic, economic, and even political spheres. While most republican theorists have focused on political means to limit such power—including both constitutional means (e.g., separation of powers, judicial review, the rule of law, federalism) and participatory ones (democratic elections and oversight)—I will examine here an economic model of republicanism that can complement, substitute for, and at times displace the standard political model. Whether we look at spousal markets, labor markets, or residential markets within federal systems, state policies that heighten competition among their participants and resource exit from abusive relationships within them can advance freedom as non-domination as effectively or even more effectively than social-democratic approaches that have recently gained enthusiasts among republicans. These conclusions suggest that democracy, be it social or political, is just one means among others for restraining arbitrary power and is consequently less central to (certain versions of) republicanism than we may have expected. So long as they counteract domination, economic inroads into notionally democratic territory are no more worrisome than constitutional ones. (shrink)

In this article the key aspects of logistical support of the airline’s innovation activity on the market of air transport services have been defined, the structure of the airline’s innovation system, logistics approach to managing the innovation activity of an airline enterprise have been considered and the main objectives of logistical activity in the context of innovation activity support of airlines have been clarified. The importance and peculiarities of logistical support of the airline’s innovation activity as an innovation flow (...) control system have been studied. The algorithm of formation of the logistical support mechanism for the airline’s innovation activity has been elaborated and specified. The objectives tree for improving the efficiency of logistical support of the airline’s innovation activity has been created. (shrink)

The entry of Ukraine into the European Union significantly expands the boundaries of cooperation with different countries of the world. Compliance with the European requirements in the marketing sector will greatly increase the efficiency of its operation in the regions of Ukraine. The method of estimating the development of social infrastructure in the resource support of the management mechanism aimed at increasing the competitiveness of the transport system of the region by the integral indicator, which characterizes the level of social (...) development of the region, is developed in the work. The integral indicator is defined as the sum of the ratios of the current and maximum partial indicators of population security by type of services in the region. The components of the process of social development assessment have been introduced: a limitation on the magnitude of each type of resource used to improve social development indicators; specific expenses of each type of resource in the region in support and improvement of the indicator of social development; the magnitude of the growth of the provision of the region for each indicator of social development; the function of the priorities of social development in the region for each indicator. It is believed that using the results of calculations using the proposed method will increase the validity of relevant management decisions. (shrink)

A citizens’ movement in Berlin advocates for the expropriation of housing corporations and has won a significant majority in a popular referendum in September 2021. Building on this proposal, this paper develops a general account of expropriation as a measure for corporate reform and thereby contributes to the ongoing debate on the democratic accountability of business corporations. It argues that expropriation is a valuable tool for intervention in a dire situation in some economic sector to enable a re-structuring of the (...) governance of the assets in question. Compared with other tools available, expropriation is a more forward-looking, genuinely political measure that does not depend on the legal assignment of guilt but rather proceeds in a pragmatic and problem-oriented manner. It also allows us to reconsider in how far the market mechanism should be employed in the administration of assets. Objections from private property rights against expropriation fail as corporations generally are privileged, quasi-public institutions that can justifiably be subject to democratic interventions. Expropriation is thus an important addition to the arsenal of corporate reform proposals, especially for those concerned with a broad democratization of the corporation. (shrink)

This article discusses the management of cycli- cal dynamics of the credit sphere. Considering the fact that conventional methods of monetary policy proved to be vulnerable to the process of accumula- tion and realization of risk in the credit sector, we aim to study heterodox methods of credit market regula- tion – administrative (direct) methods of control over fluctuations on the credit market. In particular, based on the analysis of credit limits used in the Socialist Republic of (...) Vietnam, we come to conclusion about comparative effectiveness of this method in curbing excessive amplitude of the credit cycle. However, the price of using this method may be connected with re- duction in the rate of economic growth and a shift in the accumulation of risk to other areas of the credit market. (shrink)

Contemporary republicanism is characterized by three main ideas: free persons, who are not subject to the arbitrary power of others; free states, which try to protect their citizens from such power without exercising it themselves; and vigilant citizenship, as a means to limit states to their protective role. This book advances an economic model of such republicanism that is ideologically centre-left. It demands an exit-oriented state interventionism, one that would require an activist government to enhance competition and resource exit from (...) dominating relationships within markets of all types, be they marital, labour, or residential. The substantial intervention and redistribution necessitated by such an approach make it leftist, while its tendency to work with rather than against the grain of markets makes it centrist. It is, in short, a contribution to progressive republican political thought, but one that is less social-democratic than market-democratic in character. (shrink)

The authors of the book have come to the conclusion that it is necessary to effectively use the methodological tools for assessing the competitiveness of financial and insurance markets, methodological approaches to assessing the effectiveness of regional policy, internal audit of resources. Basic research is aimed at researching the main trends in the international economy, socialization of global economic development, investment aspects of development countries, functioning of consumer market in the international economic system, trends of international population migration, processes (...) of European integration in the field of energy efficiency. The research results have been implemented in the different models of the behavior of the economic system in the conditions of crisis, provision competitiveness of national economy in the face of increasing burden of public debt. The results of the study can be used in decision-making at the level of international business, ministries and departments that regulate international relations, ensuring security and overcoming risks. The results can also be used by students and young scientists in modern concepts of the formation of international economic relations in the context of strengthening European integration processes and globalization of the economy. (shrink)

This paper critically evaluates institution reconstructing critique—the central methodological strategy employed by Axel Honneth in his latest book Freedom’s Right designed to articulate and justify the normative standards employed by a critical theory of the present. It begins by considering, at a general level, the promises and limits of three ideal-typical normative methodologies of social critique: first principles critique, intuition refining critique, and institution reconstructing critique. It then turns to the details of Honneth’s history and diagnosis of market (...) spheres of society as one key example of institution reconstruction critique. This leads to a consideration of some challenges facing this kind of critique, paying particular attention to problems posed by alternative reconstructions of the same data. It argues, in particular, that there is a troubling indeterminacy in this reconstruction, since alternative teleologies yield substantively different normative analyses of capitalism, and hence substantively different social critiques. In conclusion, the paper suggests some methodological remedies which might need to be adopted in order to make good on the promise of institution reconstructing critique while avoiding some of its most challenging problems. (shrink)

This discussion revises and extends Jonny Anomaly's ‘public goods’ account of public health ethics in light of recent criticism from Richard Dees. Public goods are goods that are both non-rival and non-excludable. What is significant about such goods is that they are not always provided efficiently by the market. Indeed, the state can sometimes realize efficiency gains either by supplying such goods directly or by compelling private purchase. But public goods are not the only goods that the market (...) may fail to provide efficiently. This point to a way of broadening the public goods account of public health to accommodate Dees' counterexamples, without abandoning its distinctive appeal. On the market failures approach to public health ethics, the role of public health is to correct public health-related market failures of all kinds, so far as possible. The underlying moral commitment is to economic efficiency in the sense of Pareto: if we can re-allocate resources in the economy so as to raise the welfare of some without lowering the welfare of any other, we ought to do so. (shrink)

The foundation of every society is the result of an arbitrary act: one of its parts takes control over the rest and (re)makes the world in its own image. Any sort of tribal, theocratic, feudal, political dimension in the history of our civilisation has indeed shaped reality according to its peculiar needs and aims, by means of a system of thought that could justify its permanence in time. The creation of artificial needs requires a distorted perception of inherent threshold values; (...) otherwise, Debord says, we wouldn't be the well-oiled cogs we're expected to be in the machinery of the system. The list of our natural needs is indeed quite short: only a few biological functions and a couple of psychophysical drives to be satisfied when necessary, such as sex and sociality. As a matter of fact, it doesn't take much for a human being to survive. Modern society can't afford to accept the concept of 'strictly necessary' though, not after its very existence became anachronistic and even threatening to a world ruled by the market-a world that needs buyers and consumers in order to survive. What Debord clearly points out is indeed the fake sense of freedom in our choices, the great lie presiding over our lives as consumers-a surrogate freedom that was bestowed upon us as yet another commodity. Even our dirtiest excesses are fed their daily fix of filth by the market; as long as our kinks imply some sort of purchase, we'll always find an industry willing to satisfy them. a use of the commodity arises that is sufficient unto itself; what this means for the consumer is an outpouring of religious zeal in honor of the commodity's sovereign freedom. waves of enthusiasm for particular products, fueled and boosted by the communications media, are propagated with lightning speed. a film sparks a fashion craze, or a magazine launches a chain of clubs that in turn spins off a line of products. the sheer fad item perfectly expresses the fact that, as the mass of commodities becomes more and more absurd, absurdity becomes a commodity in its own right... The spectacle is the moment when the commodity has attained the total occupation of social life. Not only is the relation to the commodity visible but it is all one sees: the world one sees is its world. Modern economic production extends its dictatorship extensively and intensively. In the least industrialized places, its reign is already attested by a few star commodities and by the imperialist domination imposed by regions which are ahead in the development of productivity. In the advanced regions, social space is invaded by a continuous superimposition of geological layers of commodities. At this point in the \"second industrial revolution,\" alienated consumption becomes for the masses a duty supplementary to alienated production. (shrink)

Vietnam has exhibited rapid economic growth over thirty years of comprehensive economic reforms. However, about half of the country’s active population remains in agriculture. In order to characterize the role of agriculture and livestock in Vietnam’s structural transformation, we assess ongoing dynamics at three complementary scales: national, sectoral (agriculture and livestock) and local (district of Bavi). We show that the transition since Doi Moi (Renovation) has given rise to a political economy that provides incentives to industries and services. However, labor (...) abundance (due to population density) and limited land availability (85% of agricultural land is composed of less than 1 ha farms) have slowed the canonical structural transformation, and widened income inequality between agriculture and non-agricultural workers. In this ‘Lewis trap’ context, intensive livestock (as it is the case for aquaculture and horticulture) has played a significant role in increasing labor and land productivity, offering some perspectives to secure smallholder agricultural systems. But the emergence of those very intensive systems producing a lot of effluents has in the same time jeopardized sustainable development of rural and peri-urban areas. More recently, the political shift towards industrial corporate agriculture and large-scale farming has increased this pressure on the environment, and endangered inclusive agricultural development. Today, smallholder farming and rural communities encounter many challenges to exploit resources efficiently and gain access to input markets to achieve higher productivity and value added. To avoid the risk of poverty trap and to pursue a sustainable and inclusive development over the long run, deeper and wider reforms are needed based on smallholder viability, agroecological principles, and crop-livestock integration. (shrink)

Human civilization is very clearly reaching a point of critical mass when it comes to technology and how it transforms culture and the economics that is therefore driven forward. The conversation around the practical aspects of generative artificial intelligence (Chat GPT, Q Star, Bard, Claude, Genesis, Firefly, and others) and their ethical implications is massively trending. The political conversations around it are slow to catch up but will soon take over once the general public feels their impact, which is likely (...) to happen in the next two to three years. -/- What is not being spoken of is the need for new economic models that can integrate the enormous and continuous shifts in trade that will occur, as we continue to implement more efficient manufacturing and logistics. Things like 3D printing in hub regions, the automation of transportation, augmented and virtual reality, and new creativity-based industries will all disrupt capital markets as well as social systems due to what we could call "meta-scarcity", which is to say, "the scarcity of scarcity"; In effect, we will lack the scarcity to maintain predictive power over the future. This is because when technology is capable of optimizing for creativity, people come up with new demands, and when new demands are supplied as quickly as they arise, no one is capable of knowing what kind of trends the market will take, yet it is necessary to try as public discussion could beneficially shape the economic landscape. (shrink)

This paper points to some limitations of law and economics as both an explanative and a normative theory. In explaining law as the result of efficiency promoting decisions, law and economics theorists often dismiss the reasons actors in the legal system give for their behavior. Recognizing that sometimes actors may be unaware of why institutions evolve as they do, I argue that the case for dismissing reasons for action is weaker when those reasons make reference to rules of practices that (...) constitute the meaning of actions within those practices, or when they have otherwise been given well-considered defenses. In criticizing law and economics as a normative theory, I acknowledge that economic considerations are often important in deciding how to act in the personal sphere and how government should allocate its scarce resources. I argue that while the use of institutions to promote our ideals forces us to take their costs into account, it is a mistake to infer from this that the question of determining social policy is a purely economic problem, and that we should acknowledge the non-utilitarian moral ideals our law and practices promote. This is the basis of both an internal criticism--law and economics theorists have not sufficiently evaluated and weighed the value of fairness and other ideals in their utility calculations--and an external criticism-- these ideals are important in ways that can not be measured in utiles. (shrink)