The financial crisis of 2008–2009 presents us with the opportunity to not only understand what has happened in the markets but also to reflect on the purpose of the marketplace. Drawing from expert economic analyses, we first assess the central lesson of the crisis—the failure of self-regulation by rational self-interest to moderate externalized risk in financial markets. Second, we ask the philosophical question occasioned by the crisis concerning the moral meaning of economic activity: Is market exchange (...) solely for the sake of self-interest? Reflecting on the poetry of Kahlil Gibran and engaging with the recent encyclical of Pope Benedict XVI, we turn our attention from political economy to moral economy: the relationships among market exchange, self-interest, and the common good—and, in particular, the prior conditions of market exchange and their moral significance for the present crisis. (shrink)

I discuss first Adam Smith’s ethical theory and the peculiar function played by the quadrangle of sympathy, the social function of sympathy with the rich and powerful and the unavoidable corruption of moral sentiments it carries. Secondly, I examine human nature in Smith’s work, and show how diverging tendencies are carried by different social roles. Thirdly I discuss the modest normative claims advanced by his ethical theory and show how these are not from utilitarian ones, how ethical pluralism is mirrored (...) in Smith’s triad of private virtues, prudence, justice, benevolence and of public virtues, liberty, justice, equality, how these are far from being utilitarian virtues, being rather the result of overlapping between several reasonable normative ethics. Fourthly I discuss Smith’s attitude to merchants and master-manufacturers, showing how, far being the theorist of ‘bourgeois virtues’, he was a radical critic of both the aristocratic establishment and the new emerging class in the name of oppressed. My conclusion is that ‘The Wealth of Nations’ is not an argument for self-regulating markets but instead an argument for a less authoritarian society where political authority, under pressure from a newly formed public opinion made by people in the middling ranks of life, would cease favouring the most powerful pressure group and leave ‘civil society’ in a condition where an adjustment in the distribution of wealth, revenue, knowledge and power could take place through a quasi-spontaneous process. (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 modern university and the academic profession itself are facing new challenges: First, the increasing complexity of labor markets and globalization are undermining the structure of the academic profession, and secondly, the rise in cost of university research calls into question the autonomy of the university. The internationalization of the academic labor market encourages rethinking the structure of academic professions that have historically been focused on national (regional) contexts. The university is too expensive for the state and/or for students. (...) One way to preserve the autonomy of the university is to offer society, the state, and businesses a wide range of services. This study seeks to answer the following questions: Can bureaucratic (self-)management effectively regulate the growing body of the university? Is it necessary to relinquish part of the university’s autonomy to a hired manager? Can “soft managerialism” and new economic instruments help unleash the modern university’s potential for society and sustain its autonomy? (shrink)

The purpose of this chapter is to analyse approaches to the sharing economy from the perspective of public policy science. In the first part of the text, attention is paid to perceiving the development of the emerging sharing economy not only as phenomenon with positive economic effects but also as a set of public problems (e.g., on the labour market and for existing economic structures) that require intervention at the level of national governments as well as at international level. Subsequent (...) sections identify possible actions for regulating the development of the sharing economy. The role of soft law, stakeholders’ networks, self-regulation and standardisation are discussed in the chapter. The summary includes potential directions for further research. (shrink)

One of the explanations for the Great Crisis of 2007-2008 was that financial authorities should have issued stricter regulations to prevent the housing bubble. However, according to Alan Greenspan, President of the Federal Reserve System (FED) from 1987 to 2006, this is to judge with hindsight. No one can guess when a “bubble” begins, nor when it ends; they happen because of the “irrational exuberance” in investors’ behavior, which causes boom and bust cycles. Regulators are not in a better situation (...) for assessing risks, though: since market participants supposedly know their own risks better than the regulator (a kind of informational asymmetry), an intervention (except to ensure law-enforcement) would imply unjustified paternalism. However, a regulator does not have to be conceived as a paternalistic authority. We sketch an objection to Greenspan's argument, arguing that crises don’t require a defective reasoning such as the “irrational exuberance” – our usual bounded rationality might be enough to provide the kind of “self-fulfilling prophecy” observed in the rise and fall of bubble assets value. Given the possibility of grave externalities, authorities are justified in adopting measures to ensure investors behave in a prudent way, even if they supposedly know better their own risks. (shrink)

Deskripsi pemikiran Adorno terhadap fenomena ekonomi memberi isyarat bahwa neoliberalisme bisa dibongkar. Neoliberalisme mempresentasikan diri dalam wujud rasional. Neoliberalisme sangat meyakinkan dan tampak alamiah berdasarkan klaim bahwa pasar dapat mengatur diri (self-regulating market). Klaim tersebut membuat neoliberalisme dalam perkembangannya dianggap sebagai koordinasi masyarakatyang memiliki rasionalitas. Bagi Adorno sejarah tentang sesuatu yang alamiah selalu berdasarkan pada mitos. Kapitalisme menurutnya adalah fakta sosial yang tidak natural. Penulis berkesimpulan bahwa neoliberalisme adalah fenomena yang tidak natural. Kapitalisme dan neoliberalisme hanya tampak alamiah. (...) Mitoslah yang membentuk kepercayaan bahwa sesuatu alamiah dan merupakan pokok dari sejarah. Adorno menolak pandangan tersebut dengan menyatakan bahwa sejarah mesti dimengerti secara kritis sebagai kemampuan manusia untuk mengonstitusikan bentuk sosial yang baru dalam relasinya dengan alam itu sendiri. Bagian berikutnya dari artikel ini membahas bagaimana neoliberalisme bekerja lewat distorsi komunikasi dalam sendi-sendi kehidupan sosial ekonomi, budaya dan politik. Demokrasi mengalami erosi pada substansinya. Rakyat kehilangan kemampuannya untuk berkomunikasi mengorganisir kehidupan bersamanya. Rakyat secara umum cenderung ikut terseret dalam arus neoliberalisasi. Kesadaran kritis melemah dan terdapat potensi hilangnya kedaulatan rakyat atas politik dan ekonomi. (shrink)

The research identified the key element on P. R. China’s incentives in modern history on techtransfer practices. With reviewing on the state funding surrogacy in the natural sciences, the author identified the key militant coercive contracting clauses in the document of the National Natural Science Foundation of China. With its combined workings with the statutory & martial laws, the analysis takes a com- parative culture approach that partially counteracts the work of the “United Front Working Group of the CPC”, which (...) constitutes as the major cyber espionage organization that manifests upon the communication & information technologies. The “United Front”’s work has substabtially undermined the premices of market economy and eroded the markets’ self-organizing & self-regulating functionalities. With heterogenous semantic networks taken into consideration, the psychosociological elements were taken into consideration even with the psychological data codings in the semantic networks of P. R. China. (shrink)

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

Confucianism demands that individuals comport themselves according to the strictures of ritual propriety—specific forms of speech, clothing, and demeanor attached to a vast array of life circumstances. This requires self-regulation, a cognitive resource of limited supply. When this resource is depleted, a person can experience undesirable consequences such as social isolation and alienation. However, one’s cultural background may be an important mediator of such costs; East Asians, in particular, seem to have comparatively greater self-regulatory strength. I offer some (...) considerations as to why this may be so, and what insights it may afford to theories of virtue generally. (shrink)

Recent popularity of the relationship of 'ethics' and 'economics' is at once revealing and misleading. It marks the withering away of a dogmatic confidence in a self-regulating and water-proof economic 'sphere'. It is also a muddled way of treating a number of interrelated but different issues: the interrelations between moralities (as historically given institutions) and markets (as partially self-regulating socially institutionalized mechanisms), the relationship between ethics and economic theory, and finally issues of distributive justice.

Psychopathic individuals are characterized by impaired affective processing, impulsivity, sensation-seeking, poor planning skills and heightened aggressiveness with poor self-regulation. Based on brain self-regulation studies using neurofeedback of Slow Cortical Potentials (SCPs) in disorders associated with a dysregulation of cortical activity thresholds and evidence of deficient cortical functioning in psychopathy, a neurobiological approach seems to be promising in the treatment of psychopathy. The results of our intensive brain regulation intervention demonstrate, that psychopathic offenders are able to gain control of (...) their brain excitability over fronto-central brain areas. After SCP self-regulation training, we observed reduced aggression, impulsivity and behavioral approach tendencies, as well as improvements in behavioral-inhibition and increased cortical sensitivity for error-processing. This study demonstrates improvements on the neurophysiological, behavioral and subjective level in severe psychopathic offenders after SCP-neurofeedback training and could constitute a novel neurobiologically-based treatment for a seemingly change-resistant group of criminal psychopaths. (shrink)

The preconditions and features of the formation of post-industrial society are defined in the article. The distinctive role of active innovation infrastructure of the country in integrating into the European community and society based on knowledge are proved. The characteristic features of the economy of post-industrial society are the increasing role of intangible resources in ensuring social reproduction, “softization” and “servization” the subjects of innovation infrastructure. The essence of economic category “innovation infrastructure“ is defined in the article. It is a (...) dynamic self-regulating system of markets and subjects that entering these markets in certain economic relations and it provides the necessary conditions for implementation of the innovation processes. Mechanism of functioning of the constituent elements of innovation infrastructure in market economy is proposed, relationships between them are defined. (shrink)

After an intensive 4-year process, the World Medical Association (WMA) has revised its International Code of Medical Ethics (ICoME). In their report outlining this process, Parsa-Parsi et al not only describe how the WMA sought to ‘cultivat[e] international agreement’ on a ‘global medical ethos’, but also outline the philosophical framework of the ICoME: how the WMA, as the ‘global representation of the medical profession’, created and revised the ICoME through the process of international professional self-regulation.1 However, there is a (...) significant tension to be found in this framework—one which contrasts the international scope of the ICoME with the supposed source of its legitimacy. Here, we seek to characterise this tension and the doubt which it casts on the legitimacy of the ICoME. (shrink)

Drawing upon the Conservation of Resources Theory, we investigated the hitherto unexplored role of ‘social resources’ (i.e., trust in supervisor and social interaction) in mediating the relationship between ‘self-regulation of emotions’ (i.e., a personal resource) and work engagement. The data were collected from 296 IT professionals at four well-established IT firms in Ukraine. As we hypothesized, self-regulation of emotions positively affected work engagement, yet this effect partially disappeared when controlling for the role of social resources. Together, these findings (...) illustrate the dynamic role of an individual's personal and social resources in fostering work engagement. (shrink)

What does it mean to say that an emotion can be shared? I consider this question, focusing on the relation between the phenomenology of emotion experience and self-regulation. I explore the idea that a numerically single emotion can be given to more than one subject. I term this a “collective emotion”. First, I consider different forms of emotion regulation. I distinguish between embodied forms of self-regulation, which use subject-centered features of our embodiment, and distributed forms of self-regulation, (...) which incorporate resources beyond the subject. Next, I focus on the latter. After discussing the possibility of musically distributed emotion regulation, I consider interpersonally distributed emotion regulation. I then examine Max Scheler’s (1954) phenomenological characterization of the shared grief experienced by the parents of a recently-deceased child. Drawing on the notion of interpersonally distributed emotion regulation, I argue that, with some further clarifications, Scheler’s example gives us a plausible example of a collective emotion. I conclude by briefly indicating why the notion of collective emotions may be of broader interest to debates in both philosophy of mind and emotion science. (shrink)

This article evaluates the effects of two types of rewards (performance-contingent versus engagement-contingent) on self-regulation, intrinsic motivation and creativity. Forty-two undergraduate students were randomly assigned to three conditions; i.e. a performance-contingent reward group, an engagement-contingent reward group and a control group. Results provide little support for the negative effects of performance rewards on motivational components. However, they do indicate that participants in the engagement-contingent reward group and the control group achieved higher rated creativity than participants in the performance-contingent reward (...) group. Alternative explanations for this finding are discussed. (shrink)

Understanding the autonomic nervous system and homeostatic changes associated with emotions remains a major challenge for neuroscientists and a fundamental prerequisite to treat anxiety, stress, and emotional disorders. Based on recent publications, the inter-relationship between respiration and emotions and the influence of respiration on autonomic changes, and subsequent widespread membrane potential changes resulting from changes in homeostasis are discussed. We hypothesize that reversing homeostatic alterations with meditation and breathing techniques rather than targeting neurotransmitters with medication may be a superior method (...) to address the whole body changes that occur in stress, anxiety, and depression. Detrimental effects of stress, negative emotions, and sympathetic dominance of the autonomic nervous system have been shown to be counteracted by different forms of meditation, relaxation, and breathing techniques. We propose that these breathing techniques could be used as firstline and supplemental treatments for stress, anxiety, depression, and some emotional disorders. (shrink)

This paper proposes the idea of thinking about practical rationality in terms of self-regulation and defends the thesis that self-regulation is a virtue, insofar as we have reason to think it is our highest form of practical rationality. I argue that understanding self-regulation as a virtuous form of practical reasoning is called for given the kinds of limitations we face in developing agency and pursuing our goals, and presents us with several advantages over traditional understandings of practical (...) rationality. (shrink)

The acquisition of virtue can be conceptualized as a self-regulatory process in which deliberate practice results in increasingly higher levels of skillfulness in leading a virtuous life. This conceptualization resonates with philosophical virtue theories as much as it converges with psychological models about skill development, expertise, goal motivation, and self-regulation. Yet, the conceptualization of virtue as skill acquisition poses the crucial question of motivation: What motivates individuals to self-improvement over time so that they can learn from past (...) experience, correct mistakes, and expand their ethical knowledge to new and unfamiliar circumstances? In this paper, it is argued that the motivation to increase one’s level of skillfulness in leading a virtuous life is supported by a specific identity goal, namely the goal to be a moral person. However, this moral identity goal needs to carry specific goal characteristics in order to effectively provide this motivation. It needs to be sufficiently abstract, internally motivated and promotion- rather than prevention-oriented. Research in developmental psychology suggests that the moral identity of children is rather concrete, externally motivated, and prevention-oriented. With development, higher levels of abstraction, internal motivation, and promotion-orientation gain importance providing an important motivational basis for a self-regulated process of virtue acquisition. (shrink)

: This article critically examines the constitution of impairment in prenatal testing and screening practices and various discourses that surround these technologies. While technologies to test and screen prenatally are claimed to enhance women's capacity to be self-determining, make informed reproductive choices, and, in effect, wrest control of their bodies from a patriarchal medical establishment, I contend that this emerging relation between pregnant women and reproductive technologies is a new strategy of a form of power that began to emerge (...) in the late eighteenth century. Indeed, my argument is that the constitution of prenatal impairment, by and through these practices and procedures, is a widening form of modern government that increasingly limits the field of possible conduct in response to pregnancy. Hence, the government of impairment in utero is inextricably intertwined with the government of the maternal body. (shrink)

This essay proposes that Socrates practiced various spiritual exercises, including meditation, and that this Socratic practice of meditation was habitual, aimed at cultivating emotional self-control and existential preparedness. Contemporary research in neurobiology supports the view that intentional mental actions, including meditation, have a profound impact on brain activity, neuroplasticity, and help engender emotional self-control. This impact on brain activity is confirmed via technological developments, a prime example of how technology benefits humanity. Socrates attains the balanced emotional self-control (...) that Alcibiades describes in the Symposium because of the sustained mental effort he exerts that directly impacts his brain and his emotional and philosophical life. The essay concludes that Socratic meditative practices aimed at manifesting true dignity as human beings within the complexities of a technological world offer a promising model of self-care worthy of embracing today. (shrink)

The monograph presents the ideas about the main changes that occurred in the development of technologies from the emergence of Homo sapiens till present time and outlines the prospects of their development in the next 30–60 years and in some respect until the end of the twenty-first century. What determines the transition of a society from one level of development to another? One of the most fundamental causes is the global technological transformations. Among all major technological breakthroughs in history the (...) most important are three production revolutions: 1) the Agrarian Revolution; 2) the Industrial Revolution; and 3) the Cybernetic one. The book introduces the theory of production revolutions which is a new valuable explanatory paradigm that analyzes causes and trends of dramatic shifts in historical process. The authors describe the course of technological transformations in history and demonstrate a possible application of the theory to explain the present and forthcoming technological changes. They analyze the technological shifts which took place in the second half of the twentieth and early twenty-first centuries and forecast the main shifts in the next half a century. On this basis the authors present a detailed analysis of the latest production revolution which is denoted as ‘Сybernetic’. They make some predictions about its development in the nearest five decades and up to the end of the twenty-first century and show that the development of various self-regulating systems will be the main trend of this revolution. The authors argue that the transition to the starting final phase of the Cybernetic Revolution (in the 2030–2040s) will first occur in the field of medicine (in some its innovative branches). In future we will deal with the started convergence of innovative technologies which will form the system of MANBRIC-technologies (i.e. the technological paradigm based on medicine, additive, nano- and bio- technologies, robotics, IT and cognitive technologies). The monograph gives an outline of the future breakthroughs in medicine and some other technologies (between the 2010s and 2070s). (shrink)

The republican case for workplace democracy is presented and defended from two alternative means of ensuring freedom from arbitrary interference in the firm—namely, the right to freely exit the firm and workplace regulation. This paper shows, respectively, that costless exit is neither possible nor desirable in either perfect or imperfect labor markets, and that managerial discretion is both desirable and inevitable due to the incompleteness of employment contracts and labor legislation. The paper then shows that WD is necessary, from (...) a republican standpoint, if workers’ interests are to be adequately tracked in the exercise of managerial authority. Three important objections are finally addressed— that WD is redundant, that it is unnecessary provided that litigation and unionism can produce similar outcomes, and that it falls short of ensuring republican freedom compared to self-employment. (shrink)

The effect of time pressure on metacognitive control is of theoretical and empirical relevance and is likely to allow us to tap into developmental differences in performances which do not become apparent otherwise, as previous studies suggest. In the present study, we investigated the effect of time pressure on metacognitive control in three age groups (10-year-olds, 14-year-olds, and adults, n = 183). Using an established study time allocation paradigm, participants had to study two different sets of picture pairs, in an (...) untimed and a timed condition. The results showed that metacognitive self-regulation of study time (monitor-based study time allocation) differed between age groups when studying under time pressure. Even though metacognitive control is firmly coupled at 10 years of age, the overall level of self-regulation of adults was higher than that of children and adolescents across both study time conditions. This suggests that adults might have been more sensitive to experiential metacognitive cues such as JoL for the control of study time. Moreover, the timed condition was found to be more effective than the untimed, with regard to study time allocation. Also, there was an age effect, with adults being more efficient than 10- and 14-year-olds. (shrink)

The chapter describes the sharing economy in Germany as a heterogeneous dynamic, combining local trends and histories with economic forms drawing on experiences mainly from across Europe and North America. Increasingly taken into account by policymakers in the regulation of markets and the redesign of innovation governance frameworks, “sharing” as a complex nexus linking the exercise of citizenship to sustainable consumption and informational self-determination in digital societies will continue to drive and frame the creation of value chains. Of (...) particular interest are linkages between sharing economies and the traditions of cooperativism, currently experiencing a renaissance. The latter is key because it shapes the context in which sharing economy initiatives exist and expand—an opening of definitions and narrative of innovation, of value, and of collaborative agency and cooperative management. (shrink)

The neo-liberal upsurge of the last twenty years and the neo-liberal case against the welfare state has gained much of its emotional force from a sub-text which is highly gendered. Whereas social liberalism had contained the promise of more autonomy within the private sphere and more caring values in the public sphere, neo-liberalism depicts the results of social liberalism as a loss of self reliance – through ‘over-protection’ by the state in the public sphere and usurpation of male roles (...) in the private sphere. The identification of the welfare state as female (the ‘nanny state’) helps fuel resentment on the part of those already confused by rapidly changing gender roles. This paper tracks the sex change which took place in the image of the liberal state as it evolved out of the night watchman state – the link between the women's suffrage movement and social regulation, maternal principles of distribution and demands for the public organization of caring. It examines the neo-liberal rejection of the breast and neo-liberal claims that the maternal state is incompatible with ‘self-reliance’ and a barrier to competitiveness in the world market. (shrink)

Whilst India has been debating how to regulate 'surrogacy' the UK has undergone a major consultation on increasing the amount of 'expenses'paid to egg 'donors', while France has recently finished debating its entire package of bioethics regulation and the role of its Biomedicine Agency. Although it is often claimed that there is no alternative to the neo-liberal, market-based approach in regulating (or not) reproductive medicine--the ideology prevalent in both India and the UK--advocates of that position ignore the alternative model (...) offered by France's tighter regulation, as well as its overarching concern with protecting the vulnerable and ensuring social justice. Whilst the concepts underpinning the French model of regulation also have their provenance in Western political philosophy and not in the developed world, they embody a very different attitude and suggest that there is indeed an alternative to letting the market decide. However, even in France that alternative is highly contested. (shrink)

The article introduces the concept of "surveillance-capitalist biopolitics" to problematize the recent expansion of "data extractivism" in health care and health research. As we show, this trend has accelerated during the ongoing Covid pandemic and points to a normalization and institutionalization of self-tracking practices, which, drawing on the "quantified self", points to the emergence of a "quantified collective". Referring to Foucault and Zuboff, and by analyzing key examples of the leading "Big Tech" companies (e.g., Alphabet and Apple), we (...) argue that contemporary forms of digital biopolitics are privatized, opaque, flexible, and not limited to the state. Instead, especially through the integration of wearable technologies, the biopolitical regulation of bodies is increasingly mediated by private tech companies. These companies rely on a questionable narrative of participation, responsibility, and care despite owning, and ultimately controlling, access to intimate health data and the proprietary algorithms mediating this data. The article shows that the proliferation of "surveillance-capitalist biopolitics" ultimately strengthens not only market power but also the epistemic and infrastructural power of the dataowning and gadget-producing firms. Finally, against an exclusively repressive and negative reading of biopolitics, and to effectively counter the forms of power emerging from surveillance-capitalist biopolitics, we propose four dimensions that are central to its democratizationnamely privacy/individual sovereignty, democratic deliberation, pluralism, and epistemic equality. -/- DOI: 10.1007/s41358-021-00309-9. (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)

(2023) Employees are commodities to the employer. The employer purchases commodities to maximize profitability. This brief reflection essay looks at a single passage from the “Economic and Philosophical Manuscripts” by Marx, Engels and Werke in discussion of what labor is and what it produces. This paper will interpret the passage and defend that interpretation as the case. Then it will look at a possible implication and suggest that it too is the case. This paper will come to argue that employees (...) can never be happy with their work for an employer because commodities are not purchased with happiness of the commodity in mind or as a primary mission for the employer. (shrink)

Many artificial intelligence (AI) systems currently used for decision-making are opaque, i.e., the internal factors that determine their decisions are not fully known to people due to the systems’ computational complexity. In response to this problem, several researchers have argued that human decision-making is equally opaque and since simplifying, reason-giving explanations (rather than exhaustive causal accounts) of a decision are typically viewed as sufficient in the human case, the same should hold for algorithmic decision-making. Here, I contend that this argument (...) overlooks that human decision-making is sometimes significantly more transparent and trustworthy than algorithmic decision-making. This is because when people explain their decisions by giving reasons for them, this frequently prompts those giving the reasons to govern or regulate themselves so as to think and act in ways that confirm their reason reports. AI explanation systems lack this self-regulative feature. Overlooking it when comparing algorithmic and human decision-making can result in underestimations of the transparency of human decision-making and in the development of explainable AI that may mislead people by activating generally warranted beliefs about the regulative dimension of reason-giving. (shrink)

There is a libertarian argument for live donor organ markets, according to which live donor organ markets would be permitted if we simply refrained from imposing any substantive and controversial moral assumptions on people who reasonably disagree about morality and justice. I argue that, to the contrary, this endorsement of live donor organ markets depends upon the libertarians’ adoption of a substantive and deeply controversial conception of strong, extensive property rights. This is shown by the fact that (...) these rights would prevent states intervening in cases of preventable and intuitively impermissible wronging of others that can arise when free individuals engage in voluntary offers and exchanges. I outline two forms of such wronging: discrimination and disrespectful demands. I argue that although these types of acts are morally impermissible, the policy question of whether and how they should be regulated by states is non-trivial. I then argue that there is good reason to think that organ markets would rely on disrespectful demands. This may help explain the widespread moral repugnance people feel toward organ trading. It also provides a prima facie, though not decisive, case for states to prohibit such markets. (shrink)

According to the Market Failures Approach to business ethics, beyond-compliance duties can be derived by employing the same rationale and arguments that justify state regulation of economic conduct. Very roughly the idea is that managers have a duty to behave as if they were complying with an ideal regulatory regime ensuring Pareto-optimal market outcomes. Proponents of the approach argue that managers have a professional duty not to undermine the institutional setting that defines their role, namely the competitive market. This answer (...) is inadequate, however, for it is the hierarchical firm, rather than the competitive market, that defines the role of corporate managers and shapes their professional obligations. Thus, if the obligations that the market failures approach generates are to apply to managers, they must do so in an indirect way. I suggest that the obligations the market failures approach generates directly apply to shareholders. Managers, in turn, inherit these obligations as part of their duties as loyal agents. (shrink)

Most commonplace moral failure is not conditioned by evil intentions or the conscious desire to harm or humiliate others. It is more banal and ubiquitous – a form of moral stupidity that gives rise to rationalization, self‐deception, failures of due moral consideration, and the evasion of responsibility. A kind of crude, perception‐distorting self‐absorption, moral stupidity is the cause of many moral missteps; moral development demands the development of self‐knowledge as a way out of moral stupidity. Only once (...) aware of the presence or absence of particular desires and beliefs can an agent have authority over them or exercise responsibility for their absence. But what is the connection between self‐knowledge and moral development? I argue that accounts (such as Kant's and Richard Moran's) which construe instances of self‐knowledge as like the verdicts of a judge cannot explain its potential role in moral development, and claim that it must be conceived of in a way that makes possible a process of self‐refinement and self‐regulation. Making use of Buddhist moral psychology, I argue that when self‐knowledge plays a role in moral development, it includes a quality of attention to one's experience best modeled as the work of the craftsperson, not as judge. (shrink)

Self-awareness represents the capacity of becoming the object of one’s own attention. In this state one actively identifies, processes, and stores information about the self. This paper surveys the self-awareness literature by emphasizing definition issues, measurement techniques, effects and functions of self-attention, and antecedents of self-awareness. Key self-related concepts (e.g., minimal, reflective consciousness) are distinguished from the central notion of self-awareness. Reviewed measures include questionnaires, implicit tasks, and self-recognition. Main effects and functions (...) of self-attention consist in selfevaluation, escape from the self, amplification of one's subjective experience, increased self-knowledge, self-regulation, and inferences about others' mental states (Theory-of-Mind). A neurocognitive and socioecological model of self-awareness is described in which the role of face-to-face interactions, reflected appraisals, mirrors, media, inner speech, imagery, autobiographical knowledge, and neurological structures is underlined. (shrink)

Researchers often claim that self-control is a skill. It is also often stated that self-control exertions are intentional actions. However, no account has yet been proposed of the skillful agency that makes self-control exertion possible, so our understanding of self-control remains incomplete. Here I propose the skill model of self-control, which accounts for skillful agency by tackling the guidance problem: how can agents transform their abstract and coarse-grained intentions into the highly context-sensitive, fine-grained control processes (...) required to select, revise and correct strategies during self-control exertion? The skill model borrows conceptual tools from ‘hierarchical models’ recently developed in the context of motor skills, and asserts that self-control crucially involves the ability to manage the implementation and monitoring of regulatory strategies as the self-control exercise unfolds. Skilled agents are able do this by means of flexible practical reasoning: a fast, context-sensitive type of deliberation that incorporates non-propositional representations into the formation and revision of the mixed-format intentions that structure self-control exertion. The literatures on implementation intentions and motivation framing offer corroborating evidence for the theory. As a surprising result, the skill of self-control that allows agents to overcome the contrary motivations they experience is self-effacing: instead of continuously honing this skill, expert agents replace it with a different one, which minimizes or prevents contrary motivations from arising in the first place. Thus, the more expert you are at self-control, the less likely you are to use it. (shrink)

On an account of virtue as skill, virtues are acquired in the ways that skills are acquired. In this paper I focus on one implication of that account that is deserving of greater attention, which is that becoming more skillful requires learning from one’s failures, but that turns out to be especially challenging when dealing with moral failures. In skill acquisition, skills are improved by deliberate practice, where you strive to correct past mistakes and learn how to overcome your current (...) limitations. A similar story applies to virtue acquisition, as moral failures will be a part of anyone’s life, and we will all have to learn from these experiences. However, despite the importance of being able to learn from our mistakes, this is very difficult in practice, given that failure of any kind can be distressing, and especially so for moral failure. The distress created by a recognition of moral failure often prompts responses of anger, avoidance, or defensiveness; rather than attempts to make amends and when necessary to work on self-improvement. The most potentially distressing response to moral failure is shame, as it is often associated with defensiveness. It is here where emotion regulation will be important to manage that distress, and I focus on the skill of emotion differentiation. I argue that emotion differentiation is a promising strategy for distinguishing the emotions we may experience in the wake of failure, including shame, and to encourage those emotions that motivate self-improvement. Thus, emotion regulation is important for virtue acquisition. (shrink)

One powerful argument against self-ownership is that it degrades personhood by leading individuals to view themselves and others as mere instrumental goods, alienable commodities to be exchanged in markets like other products and services. In general terms, this line of criticism (called the “commodification argument”) maintains that a direct and causal relationship exists between certain legal institutions (self-ownership) and certain attitudes (instrumentalism) and that the undesirability of the latter justifies restrictions on the former. In this article, I (...) will critically examine Margaret Jane Radin’s book Contested Commodities (1996), which presents a well-developed, compelling version of the commodification argument. I will advance three central points over the course of the article: first, the purported causal connection between self-ownership and instrumentalism is either weak or nonexistent; second, the commodification argument does little independent moral work, tending instead to be parasitic on arguments against economic, racial, and gender inequality; and third, what independent moral work it does do seems to be directed not so much at self-ownership as at liberal neutrality. I will conclude by showing that the weaknesses of Radin’s diverse defenses of the commodification argument cast doubt upon the anticommodificationist enterprise as a whole. (shrink)

Behavioural techniques or ‘nudges’ can be used for various purposes. In this paper, we shift the focus from government nudges to nudges used by for-profit market agents. We argue that potential worries about nudges circumventing the deliberative capacities or diminishing the control of targeted agents are greater when it comes to market nudges, given that these (1) are not constrained by the principles that regulate government nudges (mildness, sensitivity to people’s interests and public justifiability) and (2) are often ‘stacked’ – (...) they come in great numbers that overwhelm agents. In addition, we respond to possible objections and derive several policy suggestions. (shrink)

Self-control is the ability to inhibit temptations and persist in one’s decisions about what to do. In this article, we review recent evidence that suggests implicit beliefs about the process of self-control influence how the process operates. While earlier work focused on the moderating influence of willpower beliefs on depletion effects, we survey new directions in the field that emphasize how beliefs about the nature of self-control, self-control strategies, and their effectiveness have effects on downstream regulation (...) and judgment. These new directions highlight the need to better understand the role of self-control beliefs in naturalistic decision-making. (shrink)

The German Tradition of Self-Cultivation (Bil dung) and its Historical Meaning. This article aims at analysing the historical meaning of the German ideal of self-cultivation (Bildung), considering its different uses and interpretations over time. Based on the historical semantics of Reinhart Koselleck and the bibliography on the subject, it reconstructs the core transformations in its semantic structure from the beginnings in the late Middle Ages to its institutionalization in the German school system in the nineteenth century. The development (...) of the ideal of Bildung in Germany is characterised by the tension between its function as means of integration through education and its function as instrument of social distinction. The reflexion on this educational ideal is presented as a counterpoint to some of the contemporary educational practices, based on the imperatives of the market and the neoliberal management of human capital. (shrink)

In this paper I argue that much of the confusion and mystery surrounding the concept of "self" can be traced to a failure to appreciate the distinction between the self as a collection of diverse neural components that provide us with our beliefs, memories, desires, personality, emotions, etc (the epistemological self) and the self that is best conceived as subjective, unified awareness, a point of view in the first person (ontological self). While the former can, (...) and indeed has, been extensively studied by researchers of various disciplines in the human sciences, the latter most often has been ignored -- treated more as a place holder attached to a particular predicate of interest (e.g., concept, reference, deception, esteem, image, regulation, etc). These two aspects of the self, I contend, are not reducible -- one being an object (the epistemological self) and the other a subject (the ontological self). Until we appreciate the difficulties of applying scientific methods and analysis to what cannot be reduced to an object of inquiry without stripping it of its essential aspect (its status as subject), progress on the "self", taken as a pluralistic construct, will continue to address only one part of the problems we face in understanding this most fundamental aspect of human experience. (shrink)

Food security is one of the major concerns in the Philippines. Although livestock and poultry production accounts for a significant proportion of the country’s agricultural output, smallholder households are still vulnerable to food insecurity. The current study aims to examine how livestock production and selling difficulties affect smallholder households’ food-insecure conditions. For this objective, Bayesian Mindsponge Framework (BMF) analytics was employed on a dataset of the Food and Agriculture Organization’s Data in Emergencies Monitoring (DIEM) system. We found that production and (...) selling difficulties significantly adversely affect food insecurity in the Philippines. However, their effects vary according to the severity of food insecurity. In particular, production and selling difficulties affect the households’ likelihood of eating less healthy and nutritious food equally. However, the production difficulties have more negligible impacts on the possibility of skipping meals and even ambiguous impacts on the likelihood of not eating for a whole day compared to the effects of selling difficulties. Moreover, we also found that the market plays a crucial role in facilitating not only livestock trading but also livestock production (e.g., purchase of feed and medicines). Based on these findings, we suggest that the livestock market needs to be expanded and regulated to maintain the balancing prices between livestock products and products and services used for livestock production, and facilitate the product-exchanging mechanism. (shrink)

Philosophers have given sustained attention to the controversial possibility of (legal) markets in transplantable human organs. Most of this discussion has focused on whether such markets would enhance or diminish autonomy, understood in either the personal sense or the Kantian moral sense. What this discussion has lacked is any consideration of the relationship between self-ownership and such markets. This paper examines the implications of the most prominent and defensible conception of self-ownership--control self-ownership (CSO)--for both (...) market and nonmarket organ-allocation mechanisms. The paper contends that CSO rules out a large set of nonmarket mechanisms, including escheatage ("presumed consent"), compensated takings of organs, and restricted gifting. It also argues that CSO, if accompanied by an economistic concern for welfare, can underwrite varying types of markets in human organs, ranging from mutual-insurance pools to inter vivos (i.e., live donor) organ sales. (shrink)

There has been considerable debate over regulated organ markets. Especially current markets, where people sell one of their kidneys while still alive, have received increased attention. Futures markets remain an interesting and under-discussed alternative specification of a market-based solution to the organ shortage. Futures markets pertain to the sale of the right to procure people’s organs after they die. There is a wide range of possible specifications of the futures market. There are, however, some major unaddressed (...) efficiency concerns. This article presents this class of concerns and discusses the implication for organ futures markets. It identifies a number of inefficiency sources pertaining to crowding out, bad organs, costs and missed opportunities, family refusals, moral hazard and strength of the provided incentive. However, a complete assessment of futures market requires better knowledge regarding the potential reaction from donors, families and health professionals. (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)

This essay argues that recent evidence in neurobiology and psychology supports Aristotle’s foundational psychology and account of self-control and demonstrates that his account of virtue is still relevant for understanding human agency. There is deep correlation between the psychological foundation of virtue that Aristotle describes in The Nicomachean Ethics (NE)—namely his distinction between the rational and nonrational parts of the soul, the way that they interact, and their respective roles in self-controlled action—and dual-process models of moral judgment. Furthermore, (...) Aristotle’s conception of character traits requires emotion regulation, and there is growing evidence in neurobiology and psychology of this ability. Most importantly, individuals can intentionally influence and control their “emotion-generating” system, and furthermore can generate lasting neurological and behavioral changes through deliberate practice. This essay briefly reviews Aristotle’s account of the ψυχή (psyche/soul) and moral virtue in the Nicomachean Ethics, and then reviews contemporary evidence of emotional self-regulation or self-control that correlates with Aristotle’s account of virtue, demonstrating the ongoing relevance of Aristotle for understanding human agency. (shrink)

Emotion processing is known to be impaired in psychopathy, but less is known about the cognitive mechanisms that drive this. Our study examined experiencing and suppression of emotion processing in psychopathy. Participants, violent offenders with varying levels of psychopathy, viewed positive and negative images under conditions of passive viewing, experiencing and suppressing. Higher scoring psychopathics were more cardiovascularly responsive when processing negative information than positive, possibly reflecting an anomalously rewarding aspect of processing normally unpleasant material. When required to experience emotional (...) response, by ‘getting into the feeling’ of the emotion conveyed by a negative image, higher factor 1 psychopathic individuals showed reduced responsiveness, suggesting that they were less able to do this. These data, together with the absence of corresponding differences in subjective self-report might be used to inform clinical strategies for normalising emotion processing in psychopathic offenders to improve treatment outcome, and reduce risk amongst this client group. (shrink)

A network of gene regulation organized in a hierarchical and combinatorial manner is crucially involved in the development of the neural network, and has to be considered one of the main substrates of genetic change in its evolution. Though qualitative features may emerge by way of the accumulation of rather unspecific quantitative changes, it is reasonable to assume that at least in some cases specific combinations of regulatory parts of the genome initiated new directions of evolution, leading to novel capabilities (...) of the brain. These notions are applied, in this paper, to the evolution of the capability of cognition-based human empa­thy. It is suggested that it has evolved as a secondary effect of the evolution of strategic thought. Development of strategies depends on abstract representations of one’s own pos­sible future states in one’s own brain to allow assessment of their emotional desirability, but also on the representation and emotional evaluation of possible states of others, allowing anticipation of their behaviour. This is best achieved if representations of others are con­nected to one’s own emotional centres in a manner similar to self-representations. For this reason, the evolution of the human brain is assumed to have established representations with such linkages. No group selection is involved, because the quality of strategic thought affects the fitness of the individual. A secondary effect of this linkage is that both the actual states and the future perspectives of others elicit vicarious emotions, which may contribute to the motivations of altruistic behaviour. (shrink)