Virtue ethics is widely recognized as one of three major approaches in contemporary moral philosophy and arguably the most influential normative theory in business ethics. Despite its rich pedigree in Western and Eastern philosophy, most work in contemporary virtue ethics is part of the Western tradition. The purpose of this Thematic Symposium is to foster dialogue between Western and Eastern conceptions of virtue in business and engage them with questions about the nature, justification, and content of the virtues in each (...) tradition. This Editorial offers a brief introduction to the problem, a summary of Western and Eastern varieties of virtue ethics, an overview of the six articles included in this Thematic Symposium, and a section with five common themes for further exploration and future collaborative research. (shrink)

Donald Davidson has claimed that for every logical truth 5 of a language L, a theory of meaning for L will entail that S is a logical truth of L. Jim Edwards has argued (2002) that this claim is false if we take 'entails' to mean 'has as a logical consequence. In this paper, I first show that, pace Edwards, Davidson's claim is correct even under this strong reading. I then discuss the argument given by Edwards and offer a diagnosis (...) of where he went wrong. (shrink)

Neglected diseases are severe conditions that mainly affect the world's poorest people. Those suffering from neglected diseases are mostly suffering from tropical infections that have failed to receive priority in pharmaceutical research and development programs, as well as in public health policies aimed at improving availability and access to preventive, diagnostic and curative medicine. The World Health Organization has issued a number of documents directing attention to the plight affecting one third of the world's population, assisted by active support from (...) private organizations, notably the Bill and Melissa Gates Foundation, but the overall situation remains dismal. In the wake of major socioeconomic processes including globalization, steadily growing economic disparity, healthcare inequality, the instability created by rogue states and terrorism, as well as massive migration, and epidemic outbreaks, the features of neglected diseases have been changing. Neglected populations affected by tropical diseases are suffering increasingly from non-infectious degenerative conditions and disabilities due to untreated chronic maladies. Pockets of poverty and neglect can also be detected in high-income countries, contributing to the emergence of new diseases and the reemergence of infections believed to be disappearing such as tuberculosis and the measles. Included in the issues of neglect are rare diseases, mostly of genetic origin, affecting a small number of patients that suffer from multiple life-shortening functional impairment and organ defects. Effective medicines are extremely expensive, allegedly because research and development of appropriate drugs is resources and time consuming, requiring exorbitant prices to recoup investment from a small number of consumers. Bioethics has been tardy in addressing the suffering and destitution of neglected and rare diseases. Convinced that permanently repeated denunciations blunt the sensitivity towards suffering, whereas statistics are bloodless and unable to elicit commitment, this book attempts to explore a different strategy. In an upstream approach, bioethics needs to engage in ethnographic fieldwork that confronts and shares the context in which people suffer, vividly presenting what epidemiological research has blunted into statistical data. Additionally, a downstream approach is suggested, requiring bioethics to vigorously and openly denounce unethical biomedical and pharmaceutical research, misdeeds in registration and marketing of drugs, and misalignment of policies with the unmet healthcare needs of the destitute. More than being critical observers, bioethicists ought to shed lurking conflicts of interests and seek active participation in planning research and public healthcare practices aimed at improving the lives of medically neglected populations. (shrink)

This original book brings together some of the world's leading critics of economics orthodoxy to debate Lawson's contribution to the economics literature.

This article interprets the accounts and testimonies of native Chilean Pentecostalism, from a philosophical approach. In these accounts Pentecostal dilemmas are expressed and that oppressed beings prove by the economical and social conditions that the Chilean society lived in the 20th century. These dilemmas manifest anguish produced by absurd, emptiness and loneliness; that rise due to illness, alcoholism and poverty, which leads the individual to critical situations that push him to choose being Pentecostal, stigmatized beings and socially excluded, or to (...) suffer and death. Once they have chosen being Pentecostal the symbolic exodus starts, interpreting the past, the society and individuality in a tragic way. (shrink)

Business scholars pay increasing attention to the expanded influence of stakeholders on firm strategies, legitimacy, and competitiveness. At the same time, analysts have noted that the transformed regulatory and legislative environments of recent decades have encouraged firms to become much more politically active. Surprisingly, relatively little research has tied together these two trends. The present study integrates perspectives on stakeholder management with research on corporate political activity to develop an understanding of the structural sources of stakeholder mobilization in professional grassroots (...) lobbying campaigns. This study employs a unique, original data source to consider how the adoption of grassroots lobbying by a firm relates to its industry, degree of inside lobbying, partisan PAC contributions, and more. This research shows that corporate grassroots lobbying is shaped most significantly by a firm’s degree of inside lobbying, as highly active firms take a diversified strategy for gaining influence. Firms in industries with a heavy public presence as well as those concerned with taxation, government appropriations, and economic development also adopt these strategies readily. PAC contributions to Republican, but not Democratic, candidates also heighten firms’ propensity to lobby the public. (shrink)

This article provides a summary of economic issues found in Atlas Shrugged. It discusses the role of individual initiative, creativity, and productivity in economic progress as illustrated in this novel. It also shows the novel's depiction of the benefits of trade—and the destruction of exchange relationships and production that results from government intervention in the economy. Rand included a great many valuable insights about money in the novel's famous “money speech.” In addition, the book analyzes Galt's Gulch as (...) a free market economy. The novel is, in part, a treatise on economics providing a literary treatment of proper economic principles. (shrink)

The dominant academic paradigm and the main inspiration of anticorruption policies is the economic theory of corruption, according to which anticorruption policies should be focused on raising the costs associated with corrupt behavior. In this article, I provide three reasons to explain why anticorruption interventions in organizations inspired by the economic theory of corruption frequently fail. I contribute to the current literature by integrating the literature on constructive deviance, on personality psychology, and on managerial biases in ethical decision-making (...) into the study of corruption and into the design and implementation of anticorruption interventions. Research propositions are advanced. Research and practice implications are discussed. (shrink)

Ayn Rand wrote and lectured on economic concepts and topics. This volume addresses the economic and business aspects of her writings. The authors of this anthology are from a variety of fields and all of them are enthusiastic supporters of her ideas.

This book emphasizes the compatibility of Aristotelianism, Austrian economics, and Ayn Rand's Objectivism, arguing that particular ideas from these areas can be integrated as a potential paradigm of human flourishing and happiness in a free society. It constructs an understanding from various disciplines into a clear, consistent, and systematic whole.

This article presents a skeleton of a potential paradigm of human flourishing and happiness in a free society. It is an exploratory attempt to construct an understanding from various disciplines and to integrate them into a clear, consistent, coherent, and systematic whole. Holding that there are essential interconnections among objective ideas, the article specifically emphasizes the compatibility of Aristotelianism, Austrian Economics, Positive Psychology, and Ayn Rand’s Objectivism arguing that particular ideas from these areas can be integrated into a paradigm of (...) human flourishing and happiness based on the nature of man and the world. Such a paradigm will help people to understand the world and to survive and flourish in it. It is hoped that the paradigm will grow and evolve as scholars engage, question, critique, interpret, and extend its ideas. Our goal is to have a paradigm that accords with reality and there is always more to learn from reality. (shrink)

A guide to the pluralist movement threatening to revolutionise mainstream economics. It looks at how neoclassical economics gained its stranglehold, particularly in the United States, and how the social and intellectual underpinnings of economics have enabled it to maintain this in the face of inconsistent evidence from the real world.

Eleventh-century Europe was dominated by a single political and economic elite with position based on control of the means of coercion; by the end of the fifteenth. century there were various elites with power based on control of some form of production. Theories based on trade, population, and the class struggle have been advanced to account for this change but are inadequate because they posit causal relationships running from some single independent factor. A different form of explanation emphasizes the (...) network of relationships among economic and political units. Here economic power is crucial. The development of new technology shifted the economic leverage of the nobility to the mer chants, then to town craftsmen, with detailed effects on all other economic relationships. The argument is primarily theoretical, not a reconstruction of events, and a mathematical model is provided. (shrink)

Until the time of Karl Marx and John Stuart Mill, philosophers generally held economics to be an integral element of moral philosophy. These days, the language of values—moral, aesthetic, and cognitive—dominates philosophic discourse, even though contemporary philosophers rarely hold economics to be integral to moral philosophy. Examining the thought of Friedrich Nietzsche and the art of Marcel Proust, Edward Andrew provides the first sustained critical analysis of values discourse, an analysis that deconstructs its content and its form.

El objetivo de este artículo es reflexionar acerca de los modos en los que la política y la economía se articulan en la cosmovisión aristotélica. Para ello trabajaremos dos ejes temáticos. En primer lugar, la relación entre oíkos y polis y, en segundo lugar, la relación entre economía y los regímenes políticos. uno de los aspectos nodales del trabajo gira en torno a mostrar nuestras diferencias con respecto a la hermenéutica de Arendt y, en tal sentido, el artículo hace énfasis (...) en la importancia que también tiene para Aristóteles la dimensión económica para pensar la política, cuestión más que clara en el régimen que el Estagirita considera el mejor posible: la politeia. The aim of this paper is to examine the ways in which politics and economy are articulated in the Aristotelian view. To achieve this end, two thematic axes are developed. First, the relationship between oikos and polis and, secondly, the relationship between economy and political regimes. One of the central features of this work is to show our differences with Arendt's hermeneutic. Thus, our paper emphasizes the importance of the economic dimension within Aristotle's political thought, even for thinking politics itself -an aspect that becomes clear in the constitution that Aristotle considered the best possible: the politeia. (shrink)

This article focuses on the relationship between democracy and education in the thought of Alexis de Tocqueville. According to de Tocqueville the progress of democracy as a political system throughout history is a universal; it is gradual and unavoidable. It also aims at equality among humankind. This idea is based on the existence of a common human nature that causes a definite morality; the Christian variety. For this author the idea of social and political freedom and the growth of a (...) healthy and democratic society are strongly linked to education for the development of personal and social virtues. As a result of this, the State must create social institutions with a double function. The first one is that it should protect the citizen against anything that might threaten his freedom. In addition the State should reduce all injustices and economic differences. Secondly, it must help each person to develop freely and use his own responsibility and his virtues within society. (shrink)

This paper attempts to better define the areas of conflict and agreement between value ethics and the theoretical ethics of the market processes at work in the biotechnology industry. Despite the apparent lack of ethics in an oligopolistically competitive pharmaceuticals industry, the paper concludes that the current stage of development of the medical biotechnology subindustry offers unparalleled opportunities for ethical systems to influence the market-based development of biotechnology. Ethical conversations between doctors and biologists with ethicists can help the market absorb (...) more of the reflective wisdom that ethics brings when discussing such issue areas as justice, patents of the human genome, and modifications of the human genome. If conversations between ethicists and biotechnological managers and doctors are successful the metaphors of market-based financing may be refined and the knowledge base of the good increased. (shrink)

Instead of relying on the usual price elasticity technique, this book combines economic and engineering analysis to study economic growth and energy demands to the year 2000. It asserts that future energy demand will be determined by two basic factors--the gross national product and the efficiency with which energy is used to produce this output in the household, commercial, industrial, and transport sectors of the economy.Labor hours multiplied by a productivity factor results in the GNP. This study predicts (...) that, in the long run, productivity in the United States will recover most of the sharp losses registered in the past five years. The study points out the decelerating population growth, the higher number of women in the labor force, and new investments as having an influence on this situation.After projecting the size and composition of each of the four energy consuming sectors that account for the total GNP. Energy and Economic Growth estimates efficiency improvements for each. It shows, for example, that higher levels of thermal insulation will reduce sharply energy needs for household heating and cooling. Similarly, the study notes that improvements in energy consumption per dollar of output can be made for each of the energy intensive manufacturing industries, nothing that although the savings in energy are significant, none is a consequence of pushing improvements to known technological limits. Finally, the book establishes the price elasticities that are inherent in the calculated energy requirements and checks these against elasticity estimates made by other researchers. (shrink)

Traditional economics treats the defining subjective properties of economic agents as if they are determined independently of individual and collective relations with other agents. This collection of essays reflects the increasingly common view that economics cannot continue to disregard all economic phenomena inconsistent with this conception. The volume is especially concerned with the idea of intersubjective influences on market outcomes. A team of expert international contributors have been brought together to address the question of intersubjectivity from a variety (...) of perspectives. Using methods of description and analysis they explore the structures and effects of concrete interdependencies between individual subjectivities engaged in economic activity, and develop conceptual and analytical tools for this task. Many of the essays are interdisciplinary in scope and in addition to economics the book should provide valuable lessons in psychology, sociology, social theory, philosophy, political science and history. (shrink)

One of the greatest objects of judicial activity and academic commentary in European Union (EU) law has been the free movement of goods. The free movement of goods continues to generate intense debates because it is at the intersection of complex and difficult choices between public regulation and market freedom, on the one hand, and EU and state powers on the other. This chapter provides an overview of such debates and how they affected the development of EU law on the (...) free movement of goods. It uses the General Agreement on Tariffs and Trade (GATT) to identify some specificities of the European system. Under the GATT, discrimination tests are preceded by a market equivalence analysis of the relevant products, requiring an economic and empirical analysis of the market prior to determining whether the products are subject to differentiated treatment. (shrink)

Abstract:Opportunism impacts the behavior of firms in market situations where they purchase goods and services externally and create dependency relationships with other firms. Opportunism as a business issue is addressed in economics and marketing literature as an important factor in transaction cost analysis and market governance. Management and business ethics scholars, however, do not address this issue in depth, if at all.The recent bankruptcy of MCI WorldCom highlights some of the risks inherent in a world economy where customers and companies (...) of one society are dependent upon the business practices of partner companies in other societies. Telecommunications customers and companies in Asia, Europe and other places, who depended upon MCI WorldCom for connections to North America, now have important areas of their business in jeopardy because of the uncertainty about the fate of a critical business partner.MCI WorldCom’s situation appears to be the result of an attempt to obtain personal gain, at the expense of others, by at least one senior manager. This is called opportunism. Williamson (1985) defined opportunism as “self-interest seeking with guile.” It can wreak havoc with companies, customers, stock markets and economies and is demonstrated regularly in press accounts of misstatements on financial reports and other ways senior managers use their positions to enhance their personal wealth and influence.This paper will focus on the ethical issues surrounding business relationships and how Confucianism, with its focus on trust, reciprocity and mutual benefit in relationships, can offer a moral foundation to the inter-firm arrangements that are so much a part of the contemporary business landscape. (shrink)

Abstract:Opportunism impacts the behavior of firms in market situations where they purchase goods and services externally and create dependency relationships with other firms. Opportunism as a business issue is addressed in economics and marketing literature as an important factor in transaction cost analysis and market governance. Management and business ethics scholars, however, do not address this issue in depth, if at all.The recent bankruptcy of MCI WorldCom highlights some of the risks inherent in a world economy where customers and companies (...) of one society are dependent upon the business practices of partner companies in other societies. Telecommunications customers and companies in Asia, Europe and other places, who depended upon MCI WorldCom for connections to North America, now have important areas of their business in jeopardy because of the uncertainty about the fate of a critical business partner.MCI WorldCom’s situation appears to be the result of an attempt to obtain personal gain, at the expense of others, by at least one senior manager. This is called opportunism. Williamson (1985) defined opportunism as “self-interest seeking with guile.” It can wreak havoc with companies, customers, stock markets and economies and is demonstrated regularly in press accounts of misstatements on financial reports and other ways senior managers use their positions to enhance their personal wealth and influence.This paper will focus on the ethical issues surrounding business relationships and how Confucianism, with its focus on trust, reciprocity and mutual benefit in relationships, can offer a moral foundation to the inter-firm arrangements that are so much a part of the contemporary business landscape. (shrink)

International agricultural development as practiced by U. S. sponsored research groups in developing countries has emphasized technical questions of production, ignoring more fundamental social and economic issues that underline rural poverty and hunger. Rethinking the role of U. S. development assistance will require transcending the view that the only way to impact agriculture in the Third World is by increasing the intensity of land use in high potential agricultural areas. The challenge is to find ways of how to further (...) increase agricultural productivity so that the rural poor significantly benefit, while at the same time conserving and regenerating the resource base. U. S. scientists must realize that this is only possible by improving the access of resource-poor farmers to land, water, other natural resources, as well as to equitable credit, markets, appropriate technologies, etc. Solidarious collaboration will emerge from the U. S. siding with progressive governments and/or community-based initiatives that promote political change aimed at securing farmers' control over resources and inputs, and changing the structural conditions and policies that perpetuate poverty. (shrink)

:Opportunism impacts the behavior of firms in market situations where they purchase goods and services externally and create dependency relationships with other firms. Opportunism as a business issue is addressed in economics and marketing literature as an important factor in transaction cost analysis and market governance. Management and business ethics scholars, however, do not address this issue in depth, if at all.The recent bankruptcy of MCI WorldCom highlights some of the risks inherent in a world economy where customers and companies (...) of one society are dependent upon the business practices of partner companies in other societies. Telecommunications customers and companies in Asia, Europe and other places, who depended upon MCI WorldCom for connections to North America, now have important areas of their business in jeopardy because of the uncertainty about the fate of a critical business partner.MCI WorldCom’s situation appears to be the result of an attempt to obtain personal gain, at the expense of others, by at least one senior manager. This is called opportunism. Williamson defined opportunism as “self-interest seeking with guile.” It can wreak havoc with companies, customers, stock markets and economies and is demonstrated regularly in press accounts of misstatements on financial reports and other ways senior managers use their positions to enhance their personal wealth and influence.This paper will focus on the ethical issues surrounding business relationships and how Confucianism, with its focus on trust, reciprocity and mutual benefit in relationships, can offer a moral foundation to the inter-firm arrangements that are so much a part of the contemporary business landscape. (shrink)

Philosophers of Capitalism provides an interdisciplinary approach, attempting to discover the feasibility of an integration of Austrian Economics and Ayn Rand's philosophy of Objectivism. Edward W. Younkins supplies essays presenting the essential ideas of Carl Menger, Ludwig von Mises, and Ayn Rand, as well as scholarly essays discussing the theorists and the interaction of their theories.

Many traditional agroecosystems found in Latin America constitute major in situ repositories of crop genetic diversity. This native germplasm is crucial to developing countries and industrialized nations alike. Native varieties expand and renew the crop genetic resources of developed countries while also performing well under the ecological and economic conditions of the traditional farms where they are grown. With agricultural modernization and environmental degradation, crop genetic diversity is decreasing in peasant agricultural systems. Research is urgently needed to document rates (...) and causes of genetic erosion in these systems and the role that peasants play in maintenance of crop genetic diversity. It is proposed that multi-disciplinary teams that work under the paradigms of ethnoecology and agroecology be assembled to integrate farmers’ knowledge with Western scientific approaches to design meaningful in situ crop genetic conservation strategies. (shrink)

Part 1. Economies and violence. Economies and economics -- Cumulative causation : a dynamic common to violence and the economy -- The economy and the law -- Violence in war and the economy -- Characteristics of peaceable economies -- Part 2. Finding a peaceable economy. Models of ideal economy -- Can we get there from here? -- Alternatives to violence.

Drawing on the success of his Lindahl lectures, Edward Glaeser provides a rigorous account of his research and unique thinking on cities. Using a series of simple models and economic theory, Glaeser illustrates the primary features of urban economics including the concepts of spatial equilibrium and agglomeration economies. Written for a mathematically inclined audience with an interest in urban economics and cities, the book is written to be accessible to theorists and non-theorists alike and should provide a basis (...) for further empirical work. (shrink)

Read Miguell Ramirez's original paper Credit, Indebtedness and Speculation in Marx's Political Economy Read Stavros Mavroudeas' comment on Miguel Ramirez' paper Comment on Miguel Ramirez's paper, 'Credit, Indebtedness and Speculation in Marx's Political Economy'...

Ayn Rand and Friedrich A. Hayek were two of the most influential thinkers of the 20th century in the effort to turn the current of opinion away from collectivism and toward what could be called classical liberalism or libertarianism. The purpose of this pedagogical article is to explain, describe, and compare the essential ideas of these great advocates of liberty in language that permits generally educated readers to understand, recognize, and appreciate their significance. It that sense, it hopes to make (...) the the ideas of Rand and Hayek accessible to a wide range of readers through the use of clear explanations. To aid in this endeavor, the article concludes with the presentation and discussion of a table that summarizes and compares their ideas on a variety of problems in and dimensions of philosophy and social science. The target audience of this essay includes educated laypeople and college students, many of whom may decide to read and study the original works of these prominent theorists of a free society after being exposed to their essential ideas. (shrink)

This book is written for individuals who want to learn about the philosophical foundations of political and economic freedom. It is an introduction and a guide to the principal theoretical ideas on liberty produced by the most influential and creative thinkers in history, with chapters on Adam Smith, Ludwig von Mises, and Carl Menger.

Climate change represents a significant challenge to the entire planet and its inhabitants. While few, if any, will be able to escape totally the effects of climate change, it will fall most heavily, at least initially, on the poor, regardless of where they reside. We may observe already possible scenarios. The tragic situation in Darfur may be less an ethnic conflict and more a clash between marginal farmers and herdsmen in an increasingly more arid local climate. More powerful storms on (...) the scale of hurricane Katrina, which affected the poor more than other economic groups, may become commonplace. The alteration of the maple sugar cycle may be a harbinger of stress on the world's flora and fauna that humanity depends upon. Mainstream climatologists have concluded that human behavior, primarily the effects of industrialization, causes human-induced climate change. Left unchecked climate change will have serious consequences for humanity, especially the poor. Business, the primary agent of industrialization, is both the problem and the solution. This paper will apply the ethics of philosophers John Rawls, Robert Nozick, and Aristotle, along with the work of strategist Michael Porter. Understanding how climate change management fits into a firm's strategic opportunity will contribute to the ability of business to develop the technologies and business processes necessary to cope with climate change. The paper will conclude with a brief discussion of GE's Ecomagination program as an example of a promising moral response to climate change. (shrink)

Philosophers of Capitalism provides an interdisciplinary approach, attempting to discover the feasibility of an integration of Austrian Economics and Ayn Rand's philosophy of Objectivism. Edward W. Younkins supplies essays presenting the essential ideas of Carl Menger, Ludwig von Mises, and Ayn Rand, as well as scholarly essays discussing the theorists and the interaction of their theories.

The paper proposes a financial model suitable for ensuring the economic, financial and social sustainability of this basic protection. We have calculated the estimated cost for the Spanish population in 2010 and have estimated the cost for the following 12 years (three legislatures) under a range of demographic and economic assumptions. The results are then analysed to draw conclusions about the viability and sustainability of this basic social protection floor. A remarkable finding is that it is feasible to (...) obtain greater coverage, but by requiring contributions of the State or other financial resources. (shrink)

Karl Marx (1818-1883) was trained as a philosopher and steeped in the thought of Hegel and German idealism, but turned away from philosophy in his mid-twenties towards politics, economics and history. It is for his these subjects Marx is best known and in which his work and ideas shaped the very nature of the nineteenth and twentieth centuries. However, Marx's engagement with philosophy runs through most of his work, especially in his philosophy of history and in moral and political philosophy. (...) In this outstanding introduction to Marx's philosophy Jaime Edwards and Brian Leiter begin with an overview of Marx's life and intellectual development, before examining and assessing the following important topics: Marx's theory of history: Hegel, dialectics, teleology, materialism functionalism and the causal explanation of historical change economics, history and the transition from communism to capitalism ideology, morality and religion human nature, alienation and the good life for human beings Marx's legacy and influence, including Western Marxism and the Frankfurt School. The addition of chapter summaries, annotated further reading and a glossary of technical terms make this an indispensable introduction to Marx's philosophy. It will also be useful to those in related disciplines such as politics, sociology, history and economics. (shrink)

This essay will postulate that Adam Smith's view of society was formulated out of historical influences far broader than generally conceded by many commentators in economic thought. Smith's basic behavioral concepts of sympathy and self-interest are significant contributions to economic thought as are his philosophy of human nature being based on liberty and freedom and not simply the creation of wealth. The vectors of influence that converged on Adam Smith were of varied and even contradictory natures. Yet the (...) result of this collision of philosophical forces was clearly an event of significance in the history of philosophical and economic thought. (shrink)