In Human Well-Being and the Natural Environment, Partha Dasgupta explores ways to measure the quality of life. In developing quality-of-life indices, he pays particular attention to the natural environment, illustrating how it can be incorporated, more generally, into economic reasoning in a seamless manner. Professor Dasgupta puts the theory that he develops to use in extended commentaries on the economics of population, poverty traps, global warming, structural adjustment programmes, and free trade, particularly in relation to poor countries. (...) The result is a treatise that goes beyond quality-of-life measures and offers a comprehensive account of the newly emergent subject of ecological economics. (shrink)

Social thinkers frequently remind us that people differ in their views on what constitutes personal well-being, but that even when they don't differ, they disagree over the extent to which one person's well-being can be permitted to be traded off against another's. In this paper I show, by offering an account of the development of development economics, that in professional debates on social policy, economists speak or write as though they agree on values but differ on their reading of facts. (...) A number of ethicists have concluded from this near-exclusive interest in facts that modern economics must be an ethical desert. It is shown here that the reason research economists analyze facts rather than values is that modern economics is built on broad ethical foundations, capable of being reduced as special cases to the various ethical theories that are currently on offer. Ethics has taken a back seat in modern economics not because contemporary economists are wedded to a “value-free” enterprise, but because the ethical foundations of the subject were constructed over five decades ago and are now regarded to be a settled matter. (shrink)

Economists have in recent years found the theory of games to be an attractive route for exploring imperfectly competitive markets. In this collection of articles, some of the best minds in contemporary economics on both sides of the Atlantic explore both the potential and the limitations of this theoretical framework.

This article reports on a conversation convened by Quentin Skinner at the invitation of the Editors of The Journal of Political Philosophy and held in Cambridge on 13 February 2001.

Social thinkers frequently remind us that people differ on what constitutes personal well-being, but that even when they don't differ, they disagree over the extent to which one person's well-being can be permitted to be traded off against another's. They tell us that political differences are to be traced to differences in people's conceptions of personal and social well-being. We are given to understand, in other words, that people's ethics differ.

Combining a global approach with examples from everyday life, Partha Dasgupta describes the lives of two children who live very different lives in different parts of the world: in the Mid-West USA and in Ethiopia. He compares the obstacles facing them, and the processes that shape their lives, their families, and their futures. He shows how economics uncovers these processes, finds explanations for them, and how it forms policies and solutions. Along the way, Dasgupta provides an intelligent (...) and accessible introduction to key economic factors and concepts such as individual choices, national policies, efficiency, equity, development, sustainability, dynamic equilibrium, property rights, markets, and public goods. (shrink)

In Human Well-Being and the Natural Environment, Partha Dasgupta explores ways to measure the quality of life. In developing quality-of-life indices, he pays particular attention to the natural environment, illustrating how it can be incorporated, more generally, into economic reasoning in a seamless manner. Professor Dasgupta puts the theory that he develops to use in extended commentaries on the economics of population, poverty traps, global warming, structural adjustment programmes, and free trade, particularly in relation to poor countries. (...) The result is a treatise that goes beyond quality-of-life measures and offers a comprehensive account of the newly emergent subject of ecological economics.With the publication of this new paperback edition, Professor Dasgupta has taken the opportunity to update and revise his text in a number of ways, including developments to facilitate its current use on a number of gradate courses in environmental and resource economics. The treatment of the welfare economics of imperfect economies has been developed using new findings, and the Appendix has been expanded to include applications of the theory to a number of institutions, and to develop approximate formulae for estimating the value of environmental natural resources. (shrink)

As part of an article symposium on their “Narrow Identities”, Partha Dasgupta and Sanjeev Goyal respond to commentaries by Jean-Paul Carvalho, John B. Davis, Peter Finke, and Miriam Teschl.

In developing the basis on which climate change should be priced, I do five things. First, I review the ethical foundations for valuing future consumption relative to present consumption (i.e. social discount rates). Second, I report that the criterion for both assessing and prescribing economic policies should not be an economy's GDP, but an inclusive measure of an economy's wealth adjusted for the distribution of wealth. Third, I apply the resulting analysis to the problem of pricing carbon concentration in the (...) atmosphere. I give prominence to future uncertainties. Fourth, I show that the existing models of human behaviour on the basis of which these questions have been analysed by economists have serious deficiencies, in as much as the idea of personhood embodied in them has been built on the psychology of confirmed egotists. Fifth, I sketch the motivations of a social being and show how the altered specification of the human person affects the social price of climate change. (shrink)

The present note will be concerned only with Sir Partha Dasgupta's recent article in this journal (Dasgupta 2005). What is more, it will concentrate on those parts of the article which contain a serious misreading of Hilary Putnam's position on the entanglement of facts, theories and values. These philosophical matters can perhaps be clarified for economist readers (they should require no clarification for philosophers) by considering, to begin with, Dasgupta's interpretation of the Bergson–Samuelson position. What (Bergson) (...) Burk (1938) and Samuelson (1947) were doing, according to Dasgupta, was to establish ‘the ethical foundations of the subject. . .over five decades ago’ (Dasgupta 2005: 221–2).2 Thus a major theme of the article is heard at once: economics is supposedly based on sound ethical foundations, and these can be traced (it is supposed) to specific work written long ago, and hence needing no augmentation. These ethical foundations, it is claimed, ‘are now regarded to be a settled matter’ (2005: 222). (shrink)

The present note will be concerned only with Sir Partha Dasgupta's recent article in this journal. What is more, it will concentrate on those parts of the article which contain a serious misreading of Hilary Putnam's position on the entanglement of facts, theories and values. These philosophical matters can perhaps be clarified for economist readers by considering, to begin with, Dasgupta's interpretation of the Bergson–Samuelson position. What Burk and Samuelson were doing, according to Dasgupta, was to (...) establish ‘the ethical foundations of the subject...over five decades ago’.2 Thus a major theme of the article is heard at once: economics is supposedly based on sound ethical foundations, and these can be traced to specific work written long ago, and hence needing no augmentation. These ethical foundations, it is claimed, ‘are now regarded to be a settled matter’. (shrink)

This paper considers the debate between economists and philosophers about the role of values in economic analysis by examining the recent debate between Hilary Putnam and Sir Partha Dasgupta. It argues that although there has been a failure to communicate there is much more agreement than it seems. If Dasgupta's work is seen as part of the methodological tradition expounded by John Stuart Mill and John Neville Keynes, economists and philosophers will have a better basis for understanding (...) each other. Unlike the logical-positivist tradition, which treats facts and values as two mutually exclusive concepts, the Mill- Keynes tradition recognizes that facts and values are intertwined. Unlike the Smithian tradition, which blends the study of facts and normative rules, it divides economics into a science that studies "what is" and an art which considers "what ought to be done". (shrink)

It has been suggested that many philosophical theses—physicalism, normative naturalism, phenomenalism, and so on—should be understood in terms of ground. Against this, Ted Sider (2011) has argued that ground is ill-suited for this purpose. Here I develop Sider’s objection and offer a response. In doing so I develop a view about the role of ground in philosophy, and about the content of these distinctively philosophical theses.

The forms of liberal government that emerged after World War II are in the midst of a profound crisis. In I Am the People, Partha Chatterjee reconsiders the concept of popular sovereignty in order to explain today’s dramatic outburst of movements claiming to speak for “the people.” To uncover the roots of populism, Chatterjee traces the twentieth-century trajectory of the welfare state and neoliberal reforms. Mobilizing ideals of popular sovereignty and the emotional appeal of nationalism, anticolonial movements ushered in (...) a world of nation-states while liberal democracies in Europe guaranteed social rights to their citizens. But as neoliberal techniques shrank the scope of government, politics gave way to technical administration by experts. Once the state could no longer claim an emotional bond with the people, the ruling bloc lost the consent of the governed. To fill the void, a proliferation of populist leaders have mobilized disaffected groups into a battle that they define as the authentic people against entrenched oligarchy. Once politics enters a spiral of competitive populism, Chatterjee cautions, there is no easy return to pristine liberalism. Only a counter-hegemonic social force that challenges global capital and facilitates the equal participation of all peoples in democratic governance can achieve significant transformation. Drawing on thinkers such as Antonio Gramsci, Michel Foucault, and Ernesto Laclau and with a particular focus on the history of populism in India, I Am the People is a sweeping, theoretically rich account of the origins of today’s tempests. (shrink)

This comprehensive analysis dives deep into the intricate interplay between artificial intelligence (AI) and human agency, examining the remarkable capabilities and inherent limitations of large language models (LLMs) such as GPT-3 and ChatGPT. The paper traces the complex trajectory of AI's evolution, highlighting its operation based on statistical pattern recognition, devoid of self-consciousness or innate comprehension. As AI permeates multiple spheres of human life, it raises substantial ethical, legal, and societal concerns that demand immediate attention and deliberation. The metaphorical illustration (...) of humans as “shepherds” of AI, coupled with a thought-provoking examination of “agency without intelligence,” engenders deep reflections on the future of human-AI interplay and the associated philosophical, ethical, and practical ramifications. The paper further elucidates critical challenges associated with AI, such as ethical dilemmas, “agency without intelligence,” the role of human oversight, and the environmental impact of AI technologies. In the pursuit of solutions, the paper maps prospective directions, emphasizing the need for robust AI policies, improved AI literacy, sustainable AI practices, and a continued dialogue on the multifaceted issues surrounding AI. Through a holistic exploration of AI, this paper underlines the necessity for a multidisciplinary, collaborative approach to chart an ethical, beneficial, and sustainable AI future, enabling society to harness the potential of AI responsibly while mitigating the associated risks. (shrink)

Recent data breaches underscore the importance of organizational cybersecurity. However, the high costs of such security can force chief financial officers (CFOs) to make difficult financial and ethical trade-offs that have both business and societal implications. We employ a 2 × 2 randomized experiment that varies both an observed scenario CFO’s investment decision (invest/not invest in security) and organizational outcomes (positive/negative) to investigate these trade-offs. Participant managers assess the observed CFO’s investment behavior and indicate their own intentions to invest. Results (...) indicate that when the observed scenario CFO invests in security, managers primarily follow their peers when making investment decisions. However, when the observed CFO does not invest in security, managers make their own decisions by engaging in more in-depth reasoning that includes assessment of the seriousness of consequences, as well as the ethical and societal considerations. Moderated mediation findings further deconstruct and corroborate these relationships. (shrink)

Linguists intuitions about language change can be captured by adynamical systems model derived from the dynamics of language acquisition.Rather than having to posit a separate model for diachronic change, as hassometimes been done by drawing on assumptions from population biology (cf.Cavalli-Sforza and Feldman, 1973; 1981; Kroch, 1990), this new modeldispenses with these independent assumptions by showing how the behavior ofindividual language learners leads to emergent, global populationcharacteristics of linguistic communities over several generations. As thesimplest case, we formalize the example of (...) two grammars and show that eventhis situation leads directly to a nonlinear (quadratic) dynamical system.We study this one parameter model in a variety of situations for differentkinds of acquisition algorithms and maturational times, showing howdifferent learning theories can have very different evolutionaryconsequences. This allows us to formulate an evolutionary criterion for theadequacy of grammatical and learning theories. An application of thecomputational model to the historical loss of Verb Second from Old French toModern French is described showing how otherwise adequate grammaticaltheories might fail the evolutionary criterion. (shrink)

[opening paragraph]: Dr. Ramachandran is a distinguished researcher in the field of cognitive neuroscience whose work is grounded in impressive clinical data. As a scientific materialist, he has provided powerful arguments against the metaphysical notion of the ‘self', suggesting that our consciousness is really a biological function of the brain. He and his collaborator, William Hirstein, have now turned to human artistic activity, putting forward the argument that it is essentially a product of neural mechanism. They employ the experimental ‘peak (...) shift effect’ to sustain this hypothesis. The experiment demonstrates that a rat's cognitive achievements are related to the reward it receives for discriminating different shapes. Applying this principle to human responses to the visual image, they argue that certain simplified and exaggerated images, as for instance, caricature, appeal to our emotions and have the innate ability to give us pleasure. Furthermore, the binding of correlated features creates unitary objects that provide further grounds for aesthetic appeal. This is because, given our limited ability to concentrate, the most appealing art is one that produces heightened activity within a single dimension. (shrink)

Are social sciences that are indigenous to the West necessarily universal for other cultures? This collection of South Asian scholarship draws on the experiences of the region to discuss this question in depth.