Ludwig von Mises’s methodological apriorism is frequently attributed to the broader Austrian School of economics, of which, of course, Mises was a prominent member. However, there is considerable controversy concerning the meaning of Mises’s various attempts to justify his apriorism. There are prima facie inconsistencies within and across Mises’s methodological writings that engender massive confusion in the secondary literature. This confusion is aggravated by the fact that Mises’s apriorism cannot be straightforwardly interpreted as an artifact (...) of his historical milieu. Indeed, the two prevailing families of interpretation both treat Mises’s apriorism as radically anachronistic, albeit in different senses. According to “extreme” interpretations, Mises’s apriorism reflects an epistemology several decades, if not centuries, beyond its expiration date. According to “moderate” interpretations, however, Mises’s apriorism anticipates ideas that would not appear in the epistemological literature for several decades to come. Finally, there is evidence to suggest that Mises’s actual methodological beliefs are not reflected in his writings, that Mises either obfuscated or exaggerated his methodological position, for whatever reasons, making it seem more radical than it was in fact. I conclude that we have no idea what justification Mises actually intended when he asserted the a priori nature of the fundamental propositions of economics. If this is right, then, whatever method(s) they follow, Austrian economists cannot (deliberately) follow Mises’s apriorism. (shrink)

. The author has compared the world-view attitudes of oligarchy and capitalism on the basis of analysis of Ludwig von Mises’ writings. The results of such comparison allow us to maintain that there is neither market economy nor competition, and so nor capitalism in Ukraine. The world-view basis of capitalism is the philosophy of liberalism, which has such principles as equality, freedom, inviolability of private property, cooperation in favor of profits of the whole society. On the contrary, oligarchy based (...) on the strong desire of infinitive enrichment and exploitation hasn’t any philosophical basis. (shrink)

In the following we will investigate whether von Mises’ frequency interpretation of probability can be modified to make it philosophically acceptable. We will reject certain elements of von Mises’ theory, but retain others. In the interpretation we propose we do not use von Mises’ often criticized ‘infinite collectives’ but we retain two essential claims of his interpretation, stating that probability can only be defined for events that can be repeated in similar conditions, and that exhibit frequency stabilization. (...) The central idea of the present article is that the mentioned ‘conditions’ should be well-defined and ‘partitioned’. More precisely, we will divide probabilistic systems into object, initializing, and probing subsystem, and show that such partitioning allows to solve problems. Moreover we will argue that a key idea of the Copenhagen interpretation of quantum mechanics (the determinant role of the observing system) can be seen as deriving from an analytic definition of probability as frequency. Thus a secondary aim of the article is to illustrate the virtues of analytic definition of concepts, consisting of making explicit what is implicit. (shrink)

The economic paradigms of Ludwig von Mises on the one hand and of John Maynard Keynes on the other have been correctly recognized as antithetical at the theoretical level, and as antagonistic with respect to their practical and public policy implications. Characteristically they have also been vindicated by opposing sides of the political spectrum. Nevertheless the respective views of these authors with respect to the meaning and interpretation of probability exhibit a closer conceptual affinity than has been acknowledged in (...) the literature. In particular it is argued that in some relevant respects Ludwig von Mises´ interpretation of the concept of probability exhibits a closer affinity with the interpretation of probability developed by his opponent John Maynard Keynes than with the views on probability espoused by his brother Richard von Mises. Nevertheless there also exist significant differences between the views of Ludwig von Mises and those of John Maynard Keynes with respect to probability. One of these is highlighted more particularly: where John Maynard Keynes advocated a monist view of probability, Ludwig von Mises embraced a dualist view of probability, according to which the concept of probability has two different meanings each of which is valid in a particular area or context. It is concluded that both John Maynard Keynes and Ludwig von Mises presented highly nuanced views with respect to the meaning and interpretation of probability. (shrink)

This paper will attempt to reposition Ludwig von Mises’s methodological Apriorism and the Austrian economic method firmly in the Aristotelian realist tradition of Apriorism, rather than the more problematic Apriorism associated with Kantian idealism. The author will argue that the Misean method whilst aesthetically Kantian, is far more nuanced than semantics suggest.

The paper deals with von Mises’ metaphysics and argues that his methodological dualism concerns only his epistemology. The framework of Mises´s ontology is materialistic monism. Although Mises strongly criticizes materialism, his critique does not concern metaphysical ontological materialism as long as it does not try to eliminate the specific method of the social sciences. In this sense Mises’ metaphysics is fully naturalistic – it does not include any “spiritual” agents and postulates a world consisting exclusively of (...) elementary physical particles. The study illustrates this point on Mises’ determinism and his rejection of the free will as well as on his Darwinian account of the evolution of human mind. The specific method of the social sciences which makes use of the category of finality serves merely as an efficient heuristics and is based on a pragmatic view of science. It allows us to describe the irreducible complexity of social phenomena that cannot (at least not yet) be grasped by the physicalist vocabulary alone. Thus the argument of complexity is seen as a cornerstone of Misesian methodological dualism. (shrink)

The article focuses on the anti-naturalism of Menger and Mises. It presents a methodological approach formulated by both scholars as stemming from epistemological anti-naturalism and demonstrating similarities to social phenomenology. The article also discusses the development of the anti-naturalistic perspective on the basis of Hayek’s conception of sensory order. The latter allowed addressing the problem of validity of methodological dualism and established a sound foundation for the methodological approach of the Austrian School of Economics.

This Article outlines a vision of responsible innovation and outlines a public policy and implementation strategy for it.

In this paper I confront what I take to be the crucial challenge for fictional realism, i.e. the view that fictional characters exist. This is the problem of accounting for the intuition that corresponding negative existentials such as ‘Sherlock Holmes does not exist’ are true (when, given fictional realism, taken literally they seem false). I advance a novel and detailed form of the response according to which we take them to mean variants of such claims as: there is no concrete (...) x such that x is Sherlock Holmes. (shrink)

In diesem Eintrag werden zwei miteinander zusammenhängende Aspekte betrachtet. Nun betreffen diese zwei Aspekte aber nicht ontologische Fragen erster Ordnung, d. h. Fragen, was es gibt. Vielmehr sind es Fragen zweiter Ordnung, ›metaontologische‹ Fragen dazu, wie philosophisch untersucht werden sollte, was es gibt. Der Fokus dieses Eintrags liegt dabei auf der Standardauffassung ontologischer Untersuchung, die die philosophische Literatur der letzten Jahre dominiert hat. Diese Auffassung haben wir zum größten Teil dem Einfluss von Willard Van Orman Quine zu verdanken.

Western societies are experiencing a crisis of trust: we no longer enjoy high levels of confidence in social institutions and are increasingly skeptical of those holding positions of authority. The crisis of trust, however, seems paradoxical: at the same time we report greater feelings of mistrust or an erosion of trust in institutions and technologies we increasingly entrust our wellbeing and security to these very same technologies and institutions. Analyzing trust not only will help resolve the paradox but suggests that (...) the crisis entails normative expectations linked to collective identity, and as such, trust can be understood as a public virtue. (shrink)

Einige versuchen, Wunder mit den Naturgesetzen vereinbar zu machen, indem sie „Wunder“ als etwas anderes als göttliche Eingriffe definieren. Dieser Aufsatz behauptet hin- gegen, daß Wunder die Naturgesetze nicht verletzen, obwohl sie göttliche Eingriffe sind. Wunder sind auch keine „Ausnah- men“ der Naturgesetze, noch treffen die Naturgesetze nicht auf sie zu. Naturgesetze haben nie Ausnahmen, sie werden nie verletzt oder ausgesetzt, sie sind wahrscheinlich notwen- dig und unveränderlich, und sie treffen auch auf göttliche Ein- griffe zu. Wir sollten nicht unsere (...) Vorstellung von Wundern, sondern unsere Vorstellung der Naturgesetze in Frage stel- len. Die Hauptthese dieses Aufsatzes ist, daß Naturgesetze keine Abfolgeregelmäßigkeiten implizieren und daß deshalb Wunder die Naturgesetze nicht verletzen. Wir brauchen eine neue Theorie der Naturgesetze: die Tendenztheorie. (shrink)

Achievements have recently begun to attract increased attention from value theorists. One recurring idea in this budding literature is that one important factor determining the magnitude or value of an achievement is the amount of effort the achiever invested. The aim of this paper is to present the most plausible version of this idea. This advances the current state of debate where authors are invoking substantially different notions of effort and are thus talking past each other. While the concept of (...) effort has been invoked in the philosophical analysis of a number of important concepts such as desert, attention, competence, and distributive justice, it has hardly ever been analyzed itself. This paper makes headway in this regard by discussing three ambiguities in the everyday notion of effort. It continues to develop two accounts of effort and shows how both of them are achievement-enhancing. (shrink)

This policy brief explores important trends for the future of science for policy in Europe and the challenges and opportunities that they present for the development of science for policy ecosystems in the European Union. On the background of an increasing prominence of science in public debates and an increasing willingness of governments to mobilize scientific advice, the policy brief explores trends that shape the practices and processes of information exchange between knowledge actors and policy-makers with the intention to produce (...) scientifically informed policies in Europe, and frame important challenges and opportunities for science for policy ecosystems in the EU. (shrink)

In line with the tradition running from Ancients through Christian thought, Kant affirms the idea of moral freedom: that true freedom consists in moral self-determination. The idea of moral freedom raises the problem of moral freedom: if freedom is moral self-determination, it seems that the wicked are not free and therefore not responsible for their wrongdoings. In this essay I discuss Kant's solution to this problem. I argue that Kant distinguishes between four modalities of freedom as moral self-determination and that (...) the problem of moral freedom disappears when these distinctions are brought to light. (shrink)

Many authors hold that we cannot have the kind of free will that we seem to have. This article spells out and defends that kind of free will. Most libertarians hold that a free action involves a probabilistic process at some stage. Like the compatibilists, I hold that this is not only not required for free will but even reduces or excludes freedom. But contrary to the compatibilist and contrary to most libertarians, I claim that free will requires that we (...) can bring about events that have no preceding cause. That is what our experience suggests, and there are no beliefs that contradict this and are justified. (shrink)

Open science will make science more efficient, reliable, and responsive to societal challenges. The European Commission has sought to advance open science policy from its inception in a holistic and integrated way, covering all aspects of the research cycle from scientific discovery and review to sharing knowledge, publishing, and outreach. We present the steps taken with a forward-looking perspective on the challenges laying ahead, in particular the necessary change of the rewards and incentives system for researchers (for which various actors (...) are co-responsible and which goes beyond the mandate of the European Commission). Finally, we discuss the role of artificial intelligence (AI) within an open science perspective. (shrink)

Holt argues that Rawls’s first principle of justice requires democratic control of the economy and that property owning democracy fails to satisfy this requirement; only liberal socialism is fully democratic. However, the notion of democratic control is ambiguous, and Holt has to choose between the weaker notion of democratic control that Rawls is committed to and the stronger notion that property owning democracy fails to satisfy. It may be that there is a tension between capitalism and democracy, so that only (...) liberal socialism can be fully democratic, but if so, we should reject, rather than argue from, the theory of democracy we find in justice as fairness. (shrink)

Initially, astrobiology subsumed into philosophy. However, philosophy has increasingly subsumed into astrobiology concurrent with it steadily becoming an observational and experimental activity that mainly focuses on the link between life and the cosmos, rather than on extra-terrestrial life per se. However, the steadily increasing probability of locating such extra-terrestrial life and the questions this will lead to might require a refinement of astrobiology, with a bifurcation into astrobiology and astrophilosophy. There are many reasons for the emergence and necessity of astrobiology. (...) One barely realized reason for its emergence, I will argue, is the dawning realization that biology, until now, has been under a geocentric limitation, which has unavoidably pervaded the perception of life. Additionally, as astrobiology can be said to be a long last movement away from this limitation, astrophilosophy represents a movement away from that limitation because philosophy has, strictly speaking, been restrained by the frames for one species, Homo sapiens. Thus, philosophy has, strictly speaking, been anthropomorphic. Thus, when philosophy, like astrobiology, incorporates the Copernican principle, assuming that terrestrial life, and the thinking of Homo sapiens, is not privileged in the universe, astrophilosophy emerges. Astrobiology and astrophilosophy are not competitors but are rather two distinct but complementary activities that address questions with their own well-defined methods and rigor while still informing each other in an inter-dependent manner. Astrophilosophy concerns questions that are philosophical in nature but are procured by an astrobiological perspective. By including scenarios procured by astrobiology, a number of questions regarding value, rights, communication and intelligence that could arise in the interaction between Homo sapiens and extra-terrestrial life can be addressed. (shrink)

The paper aims to establish that Terence Hutchison’s argument in The Politics and Philosophy of Economics (1981) to the effect that the young F.A. Hayek maintained a methodological position markedly similar to that of Ludwig von Mises fails to establish the relevant conclusion. The first problem with Hutchison’s argument is that it is not clear exactly what conclusion he meant to establish with regard to the methodological views of the two paragons of 20th century Austrian economics. Mises (in)famously (...) maintained a rather extreme methodological apriorism. However, Hutchison’s argument does not support the claim that Hayek was ever an apriorist of the Misesian variety. The concept of a priori knowledge that emerges from Hayek’s epistemology – specifically the epistemology implied by Hayek’s work in theoretical psychology – is the direct opposite of Mises’ treatment of a priori knowledge. Simply stated, Hayek conceived of a priori knowledge as fallible and relative, while Mises considered a priori knowledge to be infallible and absolute. Thus, it cannot be maintained – if, indeed, Hutchison meant to establish – that Hayek was a Misesian apriorist during the years in question. What’s more, the paper shows that Hutchison’s argument does not support a weaker interpretation of the relevant conclusion. There are alternative interpretations of the evidence adduced by Hutchison that are both more charitable and more in line with Hayek’s epistemology that undermine Hutchison’s conclusion. (shrink)

In this essay I discuss a powerful challenge to high-liberalism: the challenge presented by neoclassical liberals that the high-liberal assumptions and values imply that the full range of economic liberties are basic rights. If the claim is true, then the high-liberal road from ideals of democracy and democratic citizenship to left-liberal institutions is blocked. Indeed, in that case the high-liberal is committed to an institutional scheme more along the lines of laissez-faire capitalism than property-owning democracy. To present and discuss this (...) challenge, I let John Rawls represent the high-liberal argument that only a narrow range of economic liberties are basic rights and John Tomasi represent the neoclassical liberal argument that the full range of economic liberties are basic rights. I show that Rawls’s argument is inadequate, but also that Tomasi’s argument fails. I thus conclude that high-liberalism is in a precarious situation, but is not yet undone by the neoclassical liberal challenge. (shrink)

The explication of the Christian hope of resurrection requires Christianity to spell out the way in which God actually deals in the world. Only if we succeed, with regard to past, present, and future, in making the talk of God’s special action in history plausible, are we able to reasonably assert essential Christian beliefs. Yet due to past horrors, present ongoing suffering, and a future that promises of little else, it is precisely this talk that has become doubtful. This article (...) tries to describe God’s action as a process enabling freedom and love in order to develop a theodicy-sensitive speech about God’s action. (shrink)

Affect and emotion have come to dominate discourse on social and political life in the mobile and networked societies of the early 21st century. This volume introduces a unique collection of essential concepts for theorizing and empirically investigating societies as Affective Societies. The concepts engender insights into the affective foundations of social coexistence and are indispensable to comprehend the many areas of conflict linked to emotion such as migration, political populism, or local and global inequalities. Each chapters provides historical orientation; (...) detailed explication of the concept in question, clear-cut research examples, and an outlook toward future research. (shrink)

It is widely held that our beliefs can be epistemically faultless despite being morally flawed. Theories of moral encroachment challenge this, holding that moral considerations bear on the epistemic status of our attitudes. According to attitude-based theories of moral encroachment, morality encroaches upon the epistemic standing of our attitudes on the grounds that we can morally injure others with our epistemic practices. In this paper, I aim to show that current attitude-based theories have asymmetric mechanisms: moral features only make it (...) harder for attitudes to secure epistemic merits. I argue that, if attitudes can incur moral injury, failure to form attitudes can too. To make sense of this, I contend, attitude-based accounts require symmetric mechanisms, allowing that moral considerations make it both harder and easier for attitudes to attain epistemic merits. I maintain that, once we recognize this, attitude-based encroachment views must soon concede that they sometimes demand we believe against the evidence. (shrink)

Responsible Research and Innovation (RRI) reflects an innovation paradigm that acknowledges that market innovations do not automatically deliver on socially desirable objectives, and requires a broad governance of knowledge coalitions of governmental bodies as well as industrial and societal actors to address market deficits. Responsible Innovation should be understood as a new paradigm for innovation which requires institutional changes in the research and innovation system and the public governance of the economy. It also requires the institutionalisation of an ethics of (...) co-responsibility as well as the introduction of new standards and certification processes for products. Dr. Dr. phil. von Schomberg will introduce Responsible Innovation against the background of 6 deficits of the (global) research and innovation system. (shrink)

This paper critically assesses existing accounts of the nature of difficulty, finds them wanting, and proposes a new account. The concept of difficulty is routinely invoked in debates regarding degrees of moral responsibility, and the value of achievement. Until recently, however, there has not been any sustained attempt to provide an account of the nature of difficulty itself. This has changed with Gwen Bradford’s Achievement, which argues that difficulty is a matter of how much intense effort is expended. But while (...) this account captures something important about the relationship between difficulty and achievement, it fails to account for the fact that part of what makes achievements great is that they are difficult in a moderately agent-neutral kind of way. Nor is this thought captured by any other extant account. I argue that to fill this gap we should think of difficulty in terms of low probability of success. (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)

The theory of Gestalt qualities arose from the attempt to explain how a melody is distinct from the collection of the tones which it comprehends. In this essay from 1890 Christian von Ehrenfels coined the term 'Gestaltqualität' to capture the idea of a pattern which is comprehensible in a single experience. This idea can be applied not only to melodies and other occurrent patterns, but also to continuant patterns such as shapes and colour arrays such as the array of a (...) chess board. Ehrenfel's essay gave birth to the Gestalt movement in psychology. (shrink)

he Handbook constitutes a global resource for the fast growing interdisciplinary research and policy communities addressing the challenge of driving innovation towards socially desirable outcomes. This book brings together well-known authors from the US, Europe, Asia and South-Africa who develop conceptual, ethical and regional perspectives on responsible innovation as well as exploring the prospects for further implementation of responsible innovation in emerging technological practices ranging from agriculture and medicine, to nanotechnology and robotics. The emphasis is on the socio-economic and normative (...) dimensions of innovation including issues of social risk and sustainability. (shrink)

The concept of innovation has entered a turbulent age. On the one hand, it is uncritically understood as ‘technological innovation’ and ‘commercialized innovation.’ On the other hand, ongoing research under the heading responsible research and innovation suggests that current global issues require innovation to go beyond its usual intent of generating commercial value. However, little thought goes into what innovation means conceptually. Although there is a focus on enabling outcomes of innovation processes to become more responsible and desirable, the technological (...) and commercial nature of these processes is rarely questioned. For these reasons, this paper poses the following research question: what concept of innovation is implicitly taken up by the RRI discourse and what implications does this concept have for the societal purpose of RRI? As a first step, we analyze the extent to which the concept of innovation in the RRI literature is uncritically presupposed to be technological. Subsequently, we examine the diverse meanings innovation has had over time and argue that while innovation originally had a political connotation it is only recently restricted to the meaning of technological innovation. We go on to show that even though the concept of technological innovation can contribute to the societal purpose of RRI, this requires certain conditions that are difficult to guarantee. Consequentially, we argue that future research should explore alternative understandings of innovation that better enable the overall feasibility of the emerging frameworks of RRI. (shrink)

Praised as a panacea for resolving all societal issues, and self-evidently presupposed as technological innovation, the concept of innovation has become the emblem of our age. This is especially reflected in the context of the European Union, where it is considered to play a central role in both strengthening the economy and confronting the current environmental crisis. The pressing question is how technological innovation can be steered into the right direction. To this end, recent frameworks of Responsible Innovation focus on (...) how to enable outcomes of innovation processes to become societally desirable and ethically acceptable. However, questions with regard to the technological nature of these innovation processes are rarely raised. For this reason, this paper raises the following research question: To what extent is RI possible in the current age, where the concept of innovation is predominantly presupposed as technological innovation? On the one hand, we depart from a post-phenomenological perspective to evaluate the possibility of RI in relation to the particular technological innovations discussed in the RI literature. On the other hand, we emphasize the central role innovation plays in the current age, and suggest that the presupposed concept of innovation projects a techno-economic paradigm. In doing so, we ultimately argue that in the attempt to steer innovation, frameworks of RI are in fact steered by the techno-economic paradigm inherent in the presupposed concept of innovation. Finally, we account for what implications this has for the societal purpose of RI. (shrink)

ABSTRACTAchievements are among the things that make a life good. Assessing the plausibility of this intuitive claim requires an account of the nature of achievements. One necessary condition for achievement appears to be that the achieving agent acted competently, i.e. was not just lucky. I begin by critically assessing existing accounts of anti-luck conditions for achievements in both the ethics and epistemology literature. My own proposal is that a goal is reached competently, only if the actions of the would-be-achiever make (...) success likely, and that this is the reason why she acts that way. (shrink)

We reflect on a decade of Responsible Research and Innovation (RRI) as a discourse emerging from the European Commission (EC) 10 years ago. We discuss the foundations for RRI, its emergence during the Seventh Framework programme and its subsequent evolution during Horizon 2020. We discuss how an original vision for RRI became framed around five so-called ‘keys’: gender, open access, science communication, ethics and public engagement. We consider the prospects for RRI within the context of the EC’s Open Science agenda (...) and Horizon Europe programme, before closing with some reflections on the contribution RRI has made to debates concerning the relationship between science, innovation and society over the last decade. (shrink)

Business ethics denial refers to one of two claims about moral motivation in a business context: that there is no need for it, or that it is impossible. Neither of these radical claims is endorsed by serious theorists in the academic fields that study business ethics. Nevertheless, public commentators, as well as university students, often make claims that seem to imply that they subscribe to some form of business ethics denial. This paper fills a gap by making explicit both the (...) various forms that business ethics denial can take, and the reasons why such views are ultimately implausible. The paper argues that this type of serious engagement with business ethics denial should be an important part of the job description for teachers of business ethics. (shrink)

We reflect on a decade of Responsible Research and Innovation (RRI) as a discourse emerging from the European Commission (EC) 10 years ago. We discuss the foundations for RRI, its emergence during the Seventh Framework programme and its subsequent evolution during Horizon 2020. We discuss how an original vision for RRI became framed around five so-called ‘keys’: gender, open access, science communication, ethics and public engagement. We consider the prospects for RRI within the context of the EC’s Open Science agenda (...) and Horizon Europe programme, before closing with some reflections on the contribution RRI has made to debates concerning the relationship between science, innovation and society over the last decade. (shrink)

The legend of Robin Hood exemplifies a distinct concern of justice neglected by theorists: the distributive results of systemic injustices. Robin Hood’s redistributive activities are justified by the principle that the distributive results of systemic injustices are unjust and should be corrected. This principle has relevance beyond the legend: since current inequalities in the US are results of systemic injustices, the US has good reason to take from the rich and give to the poor.

This article introduces the notion of the directedness of a process, which underlies event causation as well as the persistence of things. Using this notion it investigates what happens in typical cases of active event causation. Causes never necessitate their effects because even non- probabilistic causes can be counteracted.

Among recent developments in the anthropological sciences, hardly any have found so much attention and led to so much controversy as have the views advanced by the late Benjamin Whorf.The hypothesis offered by Whorf is,“that the commonly held belief that the cognitive processes of all human beings possess a common logical structure which operates prior to and independently of communication through language, is erroneous. It is Whorf's view that the linguistic patterns themselves determine what the individual perceives in this world (...) and how he thinks about it. Since these patterns vary widely, the modes of thinking and perceiving in groups utilizing different linguistic systems will result in basically different world views”.“We are thus introduced to a new principle of relativity which holds that all observers are not led by the same physical evidence to the same picture of the universe, unless their linguistic backgrounds are similar. … We cut up and organize the spread and flow of events as we do largely because, through our mother tongue, we are parties to an agreement to do so, not because nature itself is segmented in exactly that way for all to see”. (shrink)

This article argues that shareholder primacy cannot be defended on the grounds that there is something special about the position of shareholders that grounds a right to preferential treatment on part of management. The notions of property and contract, traditionally thought to ground such a right, are now widely recognized as incapable of playing that role. This leaves shareholder theorists with two options. They can either abandon the project of arguing for their view on broadly deontological grounds and try to (...) advance consequentialist arguments instead, or they can search for other morally relevant properties that could ground shareholder rights. The most sustained argument in the latter vein is Marcoux’s attempt to show that the vulnerability of shareholders mandates that managers are their fiduciaries. I show that this argument leads to the unacceptable conclusion that it would be unethical for corporations to make incomplete contracts with nonshareholding stakeholders. (shrink)

This paper responds to the Radical Behavioral Challenge to normative business ethics. According to RBC, recent research on bounded ethicality shows that it is psychologically impossible for people to follow the prescriptions of normative business ethics. Thus, said prescriptions run afoul of the principle that nobody has an obligation to do something that they cannot do. I show that the only explicit response to this challenge in the business ethics literature is flawed because it limits normative business ethics to condemning (...) practitioners’ behavior without providing usable suggestions for how to do better. I argue that a more satisfying response is to, first, recognize that most obligations in business are wide-scope which, second, implies that there are multiple ways of fulfilling them. This provides a solid theoretical grounding for the increasingly popular view that we have obligations to erect institutional safeguards when bounded ethicality is likely to interfere with our ability to do what is right. I conclude with examples of such safeguards and some advice on how to use the research findings on bounded ethicality in designing ethical business organizations. (shrink)

According to the order ethics approach to business ethics, moral rules must be im-plemented by institutions that provide incentives for following the rules. As a minimal (normative) condition, these institutions must be able to motivate the homo eco-nomicus. But even if an institution passes this test, it will only motivate actual people (i.e. the homo psychologicus) to follow moral rules, if they have the relevant compe-tences and self-efficacy beliefs. Consequently, good institutional design includes com-prehensive change management. At this point applied (...) order ethics can draw on find-ings of psychology and experimental economics. It turns out, that role models can support self-efficacy beliefs and are thus more important for order ethics than has traditionally been assumed. (shrink)

Review of The Philosophical Origins of Austrian Economics, by David Gordon. Auburn, Alabama: Ludwig von Mises Institute, 1993.

This article is an introduction to moral concepts. Its purpose is to introduce and explain vocabulary that can be used both in examining ethical theories, and in talking about the ethically significant aspects of concrete situations. We begin by distinguishing descriptive and normative claims, and explaining how moral claims are a special type of normative claims. We then introduce terms for the moral evaluation of actions, states of affairs, and motives. Focusing on the question ‘what should be done?’, we talk (...) at some length about factors that influence the moral evaluation of actions, such as rights, duties, and consequences. We also cover related concepts such as justifications, excuses, praise, and blame. Finally, we discuss ethical reasoning and the roles played therein by principles, values, and theories. (shrink)

Economistic Business Ethics Denial (BED) is the belief that contemporary business has features that make it systematically incompatible with ethics. Using over 1200 participants across seven separate samples we established the substantive validity of a BED Scale, confirmed its theorized structure, psychometric properties, convergent, and discriminant validity. The results suggest that the scale assesses four correlated factors of economistic BED. The scale can be used in future research on ethical decision making in business, and business ethics education.

This book features the contribution of major European research projects on the governance and ethics of Nanotechnology. They focus on the responsible development of nanotechnology and on the understanding of public debate.

At or near the beginning of many textbooks and syllabi in applied or professional ethics is a unit on philosophical moral theories (such as utilitarianism, deontology, and virtue ethics). However, teaching such theories is of questionable value in this context. This article introduces the moral vocabulary approach. Instead of burdening students with complex ethical theories, they are introduced to the logic of elementary moral concepts. This avoids many of the drawbacks of teaching ethical theories, while preserving the benefit of equipping (...) students with the conceptual tools they need to critically analyse ethical issues. (shrink)