Individuals and businesses make numerous payments every day. They sometimes have choices about what forms of payment to make or accept, and at other times are effectively forced to use a particular form. Often there is an asymmetric power relationship between payer and payee that raises the issue of whether one side unfairly exploits the other. Is it unethical exploitation for an employer to pay employees with a fee-laden payroll card over other more convenient forms of payment? Does the fee (...) structure of payment networks such as Visa and MasterCard unfairly exploit merchants? The bitcoin payment system is an ethical as well as technological evolution as it was designed to be an electronic payment system that does not rely upon trust. Can an entire payment system like bitcoin be “evil,” as charged by Krugman? Payment tools as such are ethically neutral, but can be used in an ethical or unethical manner. (shrink)

Recently there has been an outpouring of consumer frustration over rising food and energy prices. Many politicians railed against “speculators” who allegedly drove up the prices of key necessities. Is speculation unethical? This article reviews the traditional arguments against speculation. Many of the standard criticisms confuse speculation with gambling. In much the same way as ethicists now draw distinctions between usury and normal business interest, we draw a distinction between socially useful speculation and gambling. Gambling involves taking on risk with (...) no plausible expectation of making a profit. Gambling may provide entertainment value to some people, but like other addictive activities causes grave harm to a subset of users. Speculation involves taking on a business risk with a plausible expectation that a profit will result. Speculators provide an important risk bearing service by taking on risks that others do not want. They help markets to function better by helping to incorporate information into prices as well as providing liquidity. Speculators may actually reduce shortages by causing quicker price increases that motivate producers to increase production and consumers to conserve. But even socially useful speculation may have an ethical dark side. Does such speculation cause damage by adding excess volatility to prices? Speculators may contribute to price bubbles. At what point does legitimate speculation become odious “price gouging?” We also draw an ethical distinction between speculation, which seeks to benefit from changing prices, and manipulation, actions taken to push prices away from their economically appropriate levels. (shrink)

This paper examines the ethics of contemporary managerial compensation in the context of executive stock options. Economic considerations would dictate that executive stock options should be adjusted to eliminate the effect of overall stock market movements which are beyond the control of the executive. However, in practice, most executive stock options are not adjusted to control for these outside factors. Agency considerations are the most likely culprit. Adjusting for the influence of outside factors, such as a generally rising stock market, (...) from executive stock options sets a higher bar for managers to reach. Furthermore, traditional accounting standards permitted firms that did not adjust options to avoid reporting options as expenses. This presents CEOs and boards of directors with a major ethical dilemma. On the one hand, their duty to their shareholders and stakeholders dictates that executive stock options should be adjusted to eliminate outside noise from unrelated movements in the overall stock market. However, financial statements are presented in the language of accounting. If the overwhelming majority of the users of a language define a particular item in one way, then to deviate from the norm implies that the recipient of such a deviant statement may not properly interpret the statement. Likewise, if the standard practice is for firms to use unadjusted options and thus under-report expenses, to deviate from this industry norm risks that users of financial statements would not properly interpret the financial statements, with perhaps negative consequences for the shareholders. In short, if "everyone else does it," then it could be wrong for an individual firm to deviate from the norm as that would harm the shareholders. (shrink)

The controversy over short selling has continued unabated from the introduction of modern equity trading in Amsterdam in 1610 to the present day. Nevertheless, the business ethics literature has not really addressed short selling. Short sellers not only profit from the misery of others, they also create it through their selling activities. However, they also provide a socially useful service by making prices better reflect true values, protecting other investors from purchasing overpriced securities. Short sellers can also help to provide (...) liquidity in the markets. Recently, there has been a hue and cry against so called "naked" short selling, which involves not delivering the shares that have been sold. This gives manipulators a tool for depressing stock prices and deprives purchasers of voting rights and potential stock lending revenue. Naked short selling creates ethical issues for short sellers, buyers, brokers, market makers, and regulators. Is it ethical to exploit a legal loophole that permits sellers to sell stock and delay delivering shares indefinitely? (shrink)

Recent concern over “high frequency trading” (HFT) has called into question the fairness of the practice. What does it mean for a financial market to be “fair”? We first examine how high frequency trading is actually used. High frequency traders often implement traditional beneficial strategies such as market making and arbitrage, although computers can also be used for manipulative strategies as well. We then examine different notions of fairness. Procedural fairness can be viewed from the perspective of equal opportunity, in (...) which all market participants are treated alike. The same rules apply to HFT as to other traders. Another approach to fairness is in the equality of outcomes. Many HFT strategies are beneficial to other market participants, so one cannot categorically denounce the practice as unfair. Other strategies, for both high and low frequency trading, are not. It is thus important to distinguish between the technology and the use of the technology to make judgments on fairness. (shrink)

What are the ethical obligations of the sellers of financial products to their customers? Stockbrokers in the U.S. have a legal and ethical requirement to recommend only “suitable” investments to their customers. This is a fairly weak standard. Currently, there are proposals to raise the standard to a fiduciary one in which the recommendations would have to be in the best interests of the clients. Brokers sell solutions to financial problems. Similar to an auto mechanic or a doctor, the product (...) often consists of both the professional advice and its implementation. There are numerous conflicts of interest between brokerage firms and their customers in that the products that pay the highest commissions may not be the best ones for the customers. The societal perspective adds complications, however. Society depends on modern financial markets to raise capital for productive enterprises and to spread risk. Issuers of financial products need distribution channels for their products just like the producers of any other products. Commissions create powerful incentives for the distribution channels, but at the same time produce conflicts of interest—a type of ethical pollution. Just as our society tolerates some pollution as a byproduct of other useful activities, it may be useful to tolerate some of these financial conflicts of interest. The nature of the relationship should govern the ethical standard. Those selling advice, regardless of how they label themselves, should adhere to a best-interest fiduciary standard. More limited relationships should be limited to the mandate involved in the relationship. (shrink)

Nowadays in certain scientific gatherings the mention of the Name of God seems to produce a feeling of tension and hostility among the audience, and it is as if something extraneous and unscientific had been introduced. Hence it is heartening to see a scientist of the stature of Professor Coulson effectively taking up the cudgels on the side of the angels.

In lieu of an abstract, here is a brief excerpt of the content:Buddhist-Christian Studies 22.1 (2002) 251-254 [Access article in PDF] James Fredericks Interview The 2002 winner of the Frederick J.Streng Book Award is James Fredericks, professor ofTheological Studies at Loyola Marymount University in Los Angeles, California. Professor Fredericks received the award for his book, Faith Among Faiths: Christian Theology and the Non-Christian Religions, published by Paulist Press (New York) in 2001. Buddhist-Christian Studies asked James about his (...) writing of the volume.Buddhist-Christian Studies: Why did you write Faith Among Faiths?James Fredericks: I wanted to help Christians think about the problems that the "pluralist" view of religious diversity poses for inter-religious dialogue.How does the book do that?By making a sustained criticism of the claim that religions are differing interpretations of the same transcendent "Reality." This notion is a problem for a religion of revelation, like Christianity, but also for a religion like Buddhism that has a sophisticated critique of metaphysics. Pluralist thinkers impose a meta-religious grand narrative on all the religions and demand that the religions conform to this grand narrative in the name of "tolerance."This kind of thinking has roots in the European Enlightenment and has affinities with some strands of Hindu thought, especially the "neo-Hindu" thinkers. I do not think that this approach fosters dialogue in depth. If Buddhism and Christianity are varying interpretations of the same ultimate "Reality," then what does Buddhism have to teach Christians that is of genuine theological importance? The obvious differences that distinguish Buddhism from Christianity are of little theological interest to Christians because they are of no soteriological consequence. The pluralist approach is a dead end for dialogue.And the way forward?What I call "comparative theology." I think of this as an alternative to what Christians call the "theology of religions."What's the difference?Theologies of religion interpret the meaning of other religious traditions from within the perspective of Christian tradition. Karl Rahner's theology of the anonymous Christian and Karl Barth's rejection of all religions as "unbelief" are both examples of a theology of religion. John Hick's pluralist model of religions is also a kind of theology of religions. This entire project has reached an impasse within Christianity. As an alternative, I propose that Christians recognize that Buddhism and Christianity [End Page 251] are linked by some significant similarities and distinguished from each other by significant differences.How does that break the impasse?Christians have something of genuine value to learn by entering humbly into dialogue with Buddhists. By taking differences seriously, dialogue becomes a way for Christians to do their own theology collaboratively with Buddhists. In the medieval period, Christians did theology in dialogue with Aristotle and Plato. Today, I want Christians to do theology in dialogue with Nagarjuna and Dogen. Therefore doing theology comparatively is to step beyond the notion of a theology of religions. Comparative theology does not begin with the assumption that Buddhism is a relatively obscured form of the same truth Christians affirm (Rahner) or that Buddhism and Christianity are relatively equal expressions of a truth that transcends them both (Hick). The purpose of dialogue is not to show how we are all really trying to say the same thing. ForChristians, at least, dialogue with Buddhists is a genuinely demanding way of doing theology.Any other reasons for the book?Yes. To promote friendships among Buddhists and Christians. These "inter-religious friendships" are a good way for Christians to practice their faith. My own friendships with Buddhists, both here in the USA and in Asia, are central to my spirituality and my work as a theologian. In a sense, I have never been in dialogue with "Buddhism." All my dialogues have been with actual Buddhists, with all their personal strengths and weaknesses, successes and failures. I am happy to say that, over the years, I have had some skillful teachers who have taught me not only the Dharma, but also taught me new ways to think about Christianity.Was it a difficult book to write?My book was written after years of dialogue with Buddhists and much research and... (shrink)

We are likely to have immersive virtual reality and ubiquitous augmented reality in the coming decades. At least some people will use extended reality or “the metaverse” to work, play and shop. In order to achieve the best possible versions of this virtual future, however, we will need to learn from three decades of regulating the Internet. The new virtual world cannot consist of walled corporate fiefdoms ruled only by profitmaximization. The interests of workers, consumers and citizens in virtuality require (...) proactive legislation and oversight. -/- This white paper first addresses the central question the metaverse poses, whether virtual life is inherently more alienating and less authentic than face-to-face life experiences. This question is both a philosophical question about the nature of the good life and an empirical question about the accumulating evidence about the impacts of the digital on subjective well-being. -/- . (shrink)

This is a book about how we see: the environment around us (its surfaces, their layout, and their colors and textures); where we are in the environment; whether or not we are moving and, if we are, where we are going; what things are good for; how to do things (to thread a needle or drive an automobile); or why things look as they do.The basic assumption is that vision depends on the eye which is connected to the brain. The (...) author suggests that natural vision depends on the eyes in the head on a body supported by the ground, the brain being only the central organ of a complete visual system. When no constraints are put on the visual system, people look around, walk up to something interesting and move around it so as to see it from all sides, and go from one vista to another. That is natural vision—and what this book is about. (shrink)

Both the psychology of perception and the philosophy of perception seem to show a new face when the process is considered at its own level, distinct from that of sensation. Unfamiliar conceptions in physics, anatomy, physiology, psychology, and phenomenology are required to clarify the separation and make it plausible. But there have been so many dead ends in the effort to solve the theoretical problems of perception that radical proposals may now be acceptable. Scientists are often more conservative than philosophers (...) of science. I end, therefore, as I began, with a plea for help. (shrink)

This authoritative volume provides a comprehensive road map of the important and rapidly growing field of emotion regulation.

A provocative work by medical ethicist James Hughes, Citizen Cyborg argues that technologies pushing the boundaries of humanness can radically improve our quality of life if they are controlled democratically. Hughes challenges both the technophobia of Leon Kass and Francis Fukuyama and the unchecked enthusiasm of others for limitless human enhancement. He argues instead for a third way, "democratic transhumanism," by asking the question destined to become a fundamental issue of the twenty-first century: How can we use new cybernetic (...) and biomedical technologies to make life better for everyone? These technologies hold great promise, but they also pose profound challenges to our health, our culture, and our liberal democratic political system. By allowing humans to become more than human - "posthuman" or "transhuman" - the new technologies will require new answers for the enduring issues of liberty and the common good. What limits should we place on the freedom of people to control their own bodies? Who should own genes and other living things? Which technologies should be mandatory, which voluntary, and which forbidden? For answers to these challenges, Citizen Cyborg proposes a radical return to a faith in the resilience of our democratic institutions. (shrink)

Modern emotion theories emphasise the adaptive value of emotions. Emotions are by no means always helpful, however. They often must be regulated. The study of emotion regulation has its origins in the psychoanalytic and stress and coping traditions. Recently, increased interest in emotion regulation has led to crucial boundary ambiguities that now threaten progress in this domain. It is argued that distinctions need to be made between (1) regulation of emotion and regulation by emotion; (2) emotion regulation in self and (...) emotion regulation in others; and (3) conscious and nonconscious emotion regulation. Using a process model of emotion generation, this review considers promising research on basic processes and individual differences in emotion regulation and poses five theoretical challenges. (shrink)

Emotion regulation has the odd distinction of being a wildly popular construct whose scientific existence is in considerable doubt. In this article, we discuss the confusion about whether emotion generation and emotion regulation can and should be distinguished from one another. We describe a continuum of perspectives on emotion, and highlight how different (often mutually incompatible) perspectives on emotion lead to different views about whether emotion generation and emotion regulation can be usefully distinguished. We argue that making differences in perspective (...) explicit serves the function of allowing researchers with different theoretical commitments to collaborate productively despite seemingly insurmountable differences in terminology and methods. (shrink)

This classic book by Theodor W. Adorno anticipates many of the themes that have since become common in contemporary philosophy: the critique of foundationalism, the illusions of idealism and the end of epistemology.

For centuries psychologists have been trying to explain how a man or an animal could perceive space. They have thought of space as having three dimensions and the difficulty was how an observer could see the third dimension. For depth, as Bishop Berkeley asserted at the outset of the New Theory of Vision (1709), “is a line endwise to the eye which projects only one point in the fund of the eye.” Space was its dimensions. It was empty save for (...) a collection of objects or bodies. For an observer, the objects were in different directions at various distances and the question was how these distances could be detected. For two hundred and fifty years we have tried to answer this question and failed. The explanations have been controversial, contradictory, and confused. (shrink)

Speakers often do not state requests directly but employ innuendos such as Would you like to see my etchings? Though such indirectness seems puzzlingly inefficient, it can be explained by a theory of the strategic speaker, who seeks plausible deniability when he or she is uncertain of whether the hearer is cooperative or antagonistic. A paradigm case is bribing a policeman who may be corrupt or honest: A veiled bribe may be accepted by the former and ignored by the latter. (...) Everyday social interactions can have a similar payoff structure (with emotional rather than legal penalties) whenever a request is implicitly forbidden by the relational model holding between speaker and hearer (e.g., bribing an honest maitre d’, where the reciprocity of the bribe clashes with his authority). Even when a hearer’s willingness is known, indirect speech offers higher-order plausible deniability by preempting certainty, gossip, and common knowledge of the request. In supporting experiments, participants judged the intentions and reactions of characters in scenarios that involved fraught requests varying in politeness and directness. (shrink)

Kant's Religion within the Boundaries of Mere Reason is one of the great modern examinations of religion's meaning, function and impact on human affairs. In this volume, the first complete English-language commentary on the work, James J. DiCenso explains the historical context in which the book appeared, including the importance of Kant's conflict with state censorship. He shows how the Religion addresses crucial Kantian themes such as the relationship between freedom and morality, the human propensity to evil, the status (...) of historical traditions in relation to ethical principles, and the interface between individual ethics and social institutions. The major arguments are clearly and precisely explained, and the themes are highlighted and located within Kant's mature critical philosophy, especially his ethics. The commentary will be valuable for all who are interested in the continuing relevance of religion for contemporary inquiries into ethics, public institutions and religious traditions. (shrink)

One of the most fundamental distinctions in the field of emotion is the distinction between emotion generation and emotion regulation. This distinction fits comfortably with folk theories, which view emotions as passions that arise unbidden and then must be controlled. But is it really helpful to distinguish between emotion generation and emotion regulation? In this article, we begin by offering working definitions of emotion generation and emotion regulation. We argue that in some circumstances, the distinction between emotion generation and emotion (...) regulation is indeed useful. We point both to citation patterns, which indicate that researchers from across a number of sub-areas within psychology are making this distinction, and to empirical studies, which indicate the utility of this distinction in many different research contexts. We then consider five ways in which the distinction between emotion generation and emotion regulation can be problematic. We suggest that it is time to move beyond debates about whether this distinction is useful to a more specific consideration of when and in what ways this distinction is useful, and in this spirit, we offer recommendations for future research. (shrink)

This paper analyzes the ethical-political dilemma in Kant’s work, sometimes expressed through the metaphor of the “crooked wood of humanity.” Kant separates external and internal freedom and the types of legislation each form of freedom requires (coercive and noncoercive). Yet, he also argues that corrupt political institutions adversely affect individual ethical development, and, reciprocally, corrupt inner dispositions of a populace adversely affect the establishment of just political institutions. I argue that a major way in which Kant addresses this vicious circle (...) is through ethical institutions, that is, noncoercive public resources for articulating and disseminating the principles of the moral law. I discuss the idea of an ethico-civil society or ethical community formulated in the Religion as an ideal model for ethical institutions mediating the ethical and the legal-political in a noncoercive, progressive manner. (shrink)

It examines three core questions. First, what is the scope and direction of neuroscientific inquiry?

One of the most fundamental distinctions in the field of emotion is the distinction between emotion generation and emotion regulation. This distinction fits comfortably with folk theories, which view emotions as passions that arise unbidden and then must be controlled. But is it really helpful to distinguish between emotion generation and emotion regulation? In this article, we begin by offering working definitions of emotion generation and emotion regulation. We argue that in some circumstances, the distinction between emotion generation and emotion (...) regulation is indeed useful. We point both to citation patterns, which indicate that researchers from across a number of sub-areas within psychology are making this distinction, and to empirical studies, which indicate the utility of this distinction in many different research contexts. We then consider five ways in which the distinction between emotion generation and emotion regulation can be problematic. We suggest that it is time to move beyond debates about whether this distinction is useful to a more specific consideration of when and in what ways this distinction is useful, and in this spirit, we offer recommendations for future research. (shrink)

Postgenderism is an extrapolation of ways that technology is eroding the biological, psychological and social role of gender, and an argument for why the erosion of binary gender will be liberatory. Postgenderists argue that gender is an arbitrary and unnecessary limitation on human potential, and foresee the elimination of involuntary biological and psychological gendering in the human species through the application of neurotechnology, biotechnology and reproductive technologies. Postgenderists contend that dyadic gender roles and sexual dimorphisms are generally to the detriment (...) of individuals and society. Assisted reproduction will make it possible for individuals of any sex to reproduce in any combinations they choose, with or without "mothers" and "fathers," and artificial wombs will make biological wombs unnecessary for reproduction. Greater biological fluidity and psychological androgyny will allow future persons to explore both masculine and feminine aspects of personality. Postgenderists do not call for the end of all gender traits, or universal androgyny, but rather that those traits become a matter of choice. Bodies and personalities in our postgender future will no longer be constrained and circumscribed by gendered traits, but enriched by their use in the palette of diverse self-expression. (shrink)