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.

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)

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)

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)

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)

To the age-old debate over what it means to be human, the relatively new fields of sociobiology and artificial intelligence bring new, if not necessarily compatible, insights. What have these two fields in common? Have they affected the way we define humanity? These and other timely questions are addressed with colorful individuality by the authors of _The Boundaries of Humanity_. Leading researchers in both sociobiology and artificial intelligence combine their reflections with those of philosophers, historians, and social scientists, while the (...) editors explore the historical and contemporary contexts of the debate in their introductions. The implications of their individual arguments, and the often heated controversies generated by biological determinism or by mechanical models of mind, go to the heart of contemporary scientific, philosophical, and humanistic studies. (shrink)

This book approaches Hobbes's philosophy from a completely new perspective: his creativity. Creativity is the production of something which experts consider to be original, valuable and of high quality. James Hamilton explores Hobbes's creativity by focusing on his development, personality, and motivation in the context of his culture and environment, and on the ways in which he thought creatively, as inferred from his writings. Identification of the ideas which Hobbes drew upon is an important part of the study for (...) two reasons. First, they are necessary to determine which of Hobbes's ideas and theories are original and which are not. Second, analysis of his creativity requires an understanding of the ideas from which he drew. Hamilton concludes that Hobbes became a great philosopher because of his creative virtuosity. (shrink)

The biopolitics of intervening directly in the body with drugs, genes, and wires have always been far more fraught than the issues surrounding the use of gadgets. This chapter explores the way that conscience apps and morality software are an underexplored bridge between the traditional forms of moral enhancement and the more invasive methods that we will develop eventually. It discusses the core elements such as self‐control, caring, moral cognition, mindfulness, and wisdom or intelligence. Critics of morality apps point to (...) the alleged inauthenticity and shallowness of behavior change when it is technologically assisted. But humans have long enlisted technology in the aid of moral enhancement, from visible markers of vows like rings and uniforms, to self‐ or state‐imposed castration. The forms of pharmaceutical and genetic modification of moral behavior currently being discussed as forms of “moral enhancement.”. (shrink)

This book presents a lively and accessible way to use the ancient figure of Socrates to teach modern psychology that avoids the didactic lecture and sterile textbook. In the online age, is a living teacher even needed? What can college students learn face-to-face from a teacher they cannot learn anywhere else? The answer is what most teachers already seek to do: help students think critically, clearly define concepts, logically reason from premises to conclusions, engage in thoughtful and persuasive communication, and (...) actively engage the franchise of democratic citizenship. But achieving these outcomes requires an intimate, interpersonal learning community. This book presents a plan for using the ancient figure of Socrates and his Method to realize humane learning outcomes in the context of psychology. (shrink)

In Sensations of History, James J. Hodge argues that animation in new media art transforms historical experience in the digital age. Combining close textual analysis of experimental new media artworks with discussion of key phenomenological texts, Sensations of History argues for the broad critical significance of animation as we shift from analog to digital technologies. Hodge looks closely at animation aesthetics, which allow for a clear grasp of the ways digital technologies transform our sense of historical experience.

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)

This volume -- a companion to Thomas Reid: Selected Philosophical Writings (2012) -- makes available material from Thomas Reid's autograph manuscripts and student notes of his lectures. It includes an introductory essay by Nicholas Wolterstorff.

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

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)

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)

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)

This paper and its subsequent parts (Part II and Part III) build on an earlier publication (McKenna 1986). They suggest that important clinical data on the relationship between infantile constitutional deficits and microenvironmental factors relevant to SIDS can be acquired by examining the physiological regulatory effects (well documented among nonhuman primates) that parents assert on their infants when they sleep together.I attempt to show why access to parental sensory cues (movement, touch, smell, sound) that induce arousals in infants while they (...) sleep could possibly help one of many different subclasses of infants either to override certain kinds of sleep-induced breathing control errors suspected to be involved in SIDS or to avoid them altogether. I do not suggest that solitary nocturnal sleep “causes” SIDS, that all parents should sleep with their infants, or that traditional SIDS research strategies should be abandoned. However, using evolutionary data, I do suggest that an adaptive fit exists between parent-infant sleep contact and the natural physiological vulnerabilities of the neurologically immature human infant, whose breathing system is more complex than that of other mammals owing to its speech-breathing abilities. This “fit” is best understood, it is argued, in terms of the 4–5 million years of human evolution in which parent-infant contact was almost certainly continuous during at least the first year of an infant’s life. Thus, to dismiss the idea that solitary sleep has no physiological consequences for infants does not accord with scientific facts. (shrink)

Postnatal parent-infant physiological regulatory effects described in the previous paper (Part I) are viewed here as being biologically contiguous with events that occur prenatally, preparing and sensitizing the fetus to the average microenvironment into which the infant is expected, based on its evolutionary past, to be born. Following McKenna (1986), evidence (some of which is circumstantial) is presented concerning fetal hearing and fetal amniotic liquid breathing as they are affected both by maternal cardiovascular blood flow sounds in the uterus and (...) by fluctuating maternal blood sugar levels. These data are linked in turn to the infant’s postulated postnatal responsivity to parental sensory cues, including auditory and vestibular respiratory cues that may assist infants as they “learn” to breathe and, for some, to resist a SIDS event. Data on the respiratory and vocalizing behavior of normal and hearing-impaired persons are used to show that not all forms of human breathing are innate; some forms develop with experience. These data reveal how human infants learn, for example, to coordinate higher and lower brain respiratory nuclei in the context of learning initially to cry with intent and purpose and later to speak. Voluntary, cortex-based breathing emerges at the same time that infants are most likely to die from SIDS, between 2 and 4 months of age. This switch between voluntary and involuntary breathing during both sleep (while dreaming) and wake cycles, which depends on the integration of higher cortical and lower brain stem nuclei, is complex and is possibly the basis of the human species’ unique susceptibility to SIDS—a syndrome as yet unrecognized in other species. These human infant vulnerabilities, including delayed maturity, can explain in part why natural selection ought to favor increased infant sensitivity to parental sensory cues provided by a caregiver—stimuli available in the evolving parental care environment that included parent-infant co-sleeping for more than 4–5 million years of human evolution. (shrink)

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)