This sparkling collection of essays both defines and reassesses the concept of Utility. Using it as a touchstone for the consideration of the place of ethics in the recent history of design, the collection offers a way into the issues which concern design decision-makers today. It offers previously unpublished research into diverse topics such as the investigation into the hitherto undiscovered designs for a utility vehicle, and it reveals a fresh perspective on the philosophy behind the concept of Utility as (...) a design theory. (shrink)

Feminist economists have demonstrated that interrogating hierarchies based on gender, ethnicity, class and nation results in an economics that is biased and more faithful to empirical evidence than are mainstream accounts. This rigorous and comprehensive book examines many of the central philosophical questions and themes in feminist economics including: · History of economics · Feminist science studies · Identity and agency · Caring labor · Postcolonialism and postmodernism With contributions from such leading figures as Nancy Folbre, Julie Nelson and Sandra (...) Harding, Toward a Feminist Theory of Economics looks set to become the book on feminist economics for some time to come and will be greatly appreciated by all those interested in gender studies, economic methodology and social theory. (shrink)

Much existing economic theory overlooks ethics. Rather than situating the market and values at separate extremes of a continuum, Ethics and the Market contends that the two are necessarily and intimately related. This volume brings together some of the best work in the social economics tradition, with contributions on the social economy, social capital, identity, ethnicity and development, the household, externalities, international finance, capability, and pedagogy. Proceeding from an examination of the moral implications of markets, the book goes on to (...) explore such themes as the institutional arrangements of social economies, individual and household decision-making, and economic development in a global context. Ethics and the Market illuminates the diverse and dynamic theoretical approaches that are employed in social economics, reflecting on their continuously evolving relationship with neoclassical economics. This book will prove vital reading for students and academics in the fields of Economics, Sociology, Gender Studies, and Public Policy. (shrink)

: Carol Gilligan's temporally embedded caring subjects reason in terms of relationships with and forward-looking responsibilities to others, and consider how their decisions will shape future ties. Subsequent work in philosophy and economics has had difficulty developing these aspects because of an underlying social ontology that excludes them. This paper draws on a heterodox tradition, post-Keynesianism, to develop an alternative social ontology and an analysis of material life that takes time fully into account.

The moral intuitions and arguments of some prominent business ethics authors regarding the ethics of monopoly are drenched with contestable economic theory. Discussions too typically ignore theoretical alternatives and debates about the nature of monopolies, their assets and liabilities. I review the theoretical debates and show why they matter to business ethics. That there may be genuine cases of rivalrous monopoly, that monopolies might in the odd circumstance prove more efficient or become advantageous in contests with labor or useful in (...) respect of a nation''s international affairs does not imply we should unwary of monopolies. However, not only the best theory to date, but also the mere fact of serious disagreement in the field suggests that there is no necessary connection between monopolies and practices such as price discrimination, price fixing, bribery, collusion, and so on. This frustrates the most pervasive and most prominent argument so far for the claim that monopolies are intrinsically unethical. (shrink)

Recent theories of negative freedom see it as a value-neutral concept; the definition of freedom should not be in terms of specific moral values. Specifically, preferences or desires do not enter into the definition of freedom. If preferences should so enter then Berlin's problem that a person may enhance their freedom by changing their preferences emerges. This paper demonstrates that such a preference-free conception brings its own counter-intuitive problems. It concludes that these problems might be avoided if the description of (...) the constraints which specify an agent's lack of freedom include the intentions of those who constrain the agents. (Published Online July 31 2007) Footnotes1 Versions of this paper have been read to a diverse set of academics in Bayreuth, Germany; Groningen, Netherlands; LSE, UK; and in Dublin, Ireland. We would like to thank participants at those sessions for their comments. We also thank anonymous referees, Ian Carter and Luc Bovens for their help in improving the paper. (shrink)

The concept of preference dominates economic theory today. It performs a triple duty for economists, grounding their theories of individual behavior, welfare, and rationality. Microeconomic theory assumes that individuals act so as to maximize their utility – that is, to maximize the degree to which their preferences are satisfied. Welfare economics defines individual welfare in terms of preference satisfaction or utility, and social welfare as a function of individual preferences. Finally, economists assume that the rational act is the act that (...) maximally satisfies an individual's preferences. The habit of framing problems in terms of the concept of preference is now so entrenched that economists rarely entertain alternatives. (shrink)

discounting the future' is one on which philosophers and economists have divergent professional views. There is a lot of talking at cross-purposes across the disciplinary divide here; but there is a fair bit of confusion (I think) within disciplines as well. My aim here is essentially clarificatory. I draw several distinctions that I see as significant: • between inter-temporal and intergenerational questions • between price (discount rate) and quantity (inter-temporal and intergenerational allocations) as the ethically relevant magnitude, and • between (...) price change and preference change as the primary instrument of change. I show that discounting does not violate the principle of inter-temporal and intergenerational neutrality, but I also cast some doubt on whether making adequate allowance for future generations has really been the problem that economists and philosophers seem to have taken it to be. Key Words: discount rates • intergenerational justice • future generations • `feasibility' analysis. (shrink)

This is a systematic evaluation of the main arguments for and against the market as an instrument of social organization, balancing efficiency and justice .

I argue that, in the currently gender-unjust societies a basic income would not advance feminist goals. To assess the impact of a social policy on gender justice I propose the following criterion: a society is gender-just when the costs of engaging in a lifestyle characterized by gender-symmetry (in both the domestic and public spheres) are, for both men and women, smaller or equal to the costs of engaging in a gender-asymmetrical lifestyle. For a significant number of women, a basic income (...) would increase the costs of leading gender-symmetrical lifestyles because it would make it easier for both women and men to pursue gender-unjust preferences. I argue that preference satisfaction is distinct from justice. I conclude by showing why a basic income would lead to further privatisation of caregiving, and I outline the negative effects this would have on women. (shrink)

Axelrod (The evolution of cooperation, 1984) and others explain how cooperation can emerge in repeated 2-person prisoner’s dilemmas. But in public good games with anonymous contributions, we expect a breakdown of cooperation because direct reciprocity fails. However, if agents are situated in a social network determining which agents interact, and if they can influence the network, then cooperation can be a viable strategy. Social networks are modelled as graphs. Agents play public good games with their neighbours. After each game, they (...) can terminate connections to others, and new connections are created. Cooperative agents do well because they manage to cluster with cooperators and avoid defectors. Computer simulations demonstrate that group formation and exclusion are powerful mechanisms to promote cooperation in dilemma situations. This explains why social dilemmas can often be solved if agents can choose with whom they interact. (shrink)

A search is under way for a theory that can accommodate our intuitions in population axiology. The object of this search has proved elusive. This is not surprising since, as we shall see, any welfarist axiology that satisfies three reasonable conditions implies at least one of three counter-intuitive conclusions. I shall start by pointing out the failures in three recent attempts to construct an acceptable population axiology. I shall then present an impossibility theorem and conclude with a short discussion of (...) how it might be extended to pluralist axiologies, that is, axiologies that take more values than welfare into account. (shrink)

Consider a transitive value ordering of outcomes and lotteries on outcomes, which satisfies substitutivity of equivalents and obeys “continuity for easy cases,” i.e., allows compensating risks of small losses by chances of small improvements. Temkin (2001) has argued that such an ordering must also – rather counter-intuitively – allow chances of small improvements to compensate risks of huge losses. In this paper, we show that Temkin's argument is flawed but that a better proof is possible. However, it is more difficult (...) to determine what conclusions should be drawn from this result. Contrary to what Temkin suggests, substitutivity of equivalents is a notoriously controversial principle. But even in the absence of substitutivity, the counter-intuitive conclusion is derivable from a strengthened version of continuity for easy cases. The best move, therefore, might be to question the latter principle, even in its original simple version: as we argue, continuity for easy cases gives rise to a sorites. (shrink)

Following Amartya Sen’s insistence to expand the framework of rational choice theory by taking into account ‘non-utility information,’ economists, political scientists and philosophers have recently concentrated their efforts in analysing the issues related to rights, freedom, diversity intentions and equality. Thomas Boylan and Ruvin Gekker have gathered essays that reflect this trend. The particular themes addressed in this volume include: the measurement of diversity and freedom, formal analysis of individual rights and intentions, judgment aggregation under constraints and strategic manipulation in (...) fuzzy environments. Some papers in the volume also deal with philosophical aspects of normative social choice. (shrink)

This is a systematic evaluation of the main arguments for and against the market as an instrument of social organization, balancing efficiency and justice .

We now live in a world with unprecedented possibilities. Technology is quickly reaching the point at which it will be within our grasp to cure any ailment: medical, psychological, or social. Yet we are already falling behind in the curative use of our newfound abilities. With our new technologies we have it within our means to feed the world and to eradicate sicknesses common only in developing countries. However, the use of these *2 abilities is governed by a social system (...) in which market and other competitive forces provide strong disincentives for their efficient use - to improve the lots of those worst off in the world. These forces enable those who control the disposition of our new abilities to retain that power. In this article I wish to explore the possibilities of founding a sense of social responsibility upon our participation in our particular social system, exploring the nature of such a responsibility. I then turn, armed with this sense of responsibility, to a brief investigation of program areas that may help us to meet this responsibility. (shrink)

I have two major aims in this chapter, which is philosophical in nature. One is to draw upon values that are salient in the southern African region in order to construct a novel and attractive conception of human dignity. Specifically, I articulate the idea that human beings have a dignity in virtue of their communal nature, or their capacity for what I call ‘identity’ and ‘solidarity’, which contrasts the most influential conception in the West, according to which our dignity inheres (...) in our rationality or autonomy. The second aim is to invoke this Afro-communitarian conception of human dignity in order to advance a new conception of why poverty is morally problematic and of what people, particularly states, are ethically required to do with regard to it. Common conceptions of poverty focus on it in terms of people lacking income, preference satisfaction (‘utility’) or general-purpose means (‘social primary goods’ in the Rawlsian jargon). In contrast, if what is special about human beings is our ability to commune with one another in a certain way, then the respects in which poverty can be an injustice and the ways that it must be fought must be understood in more communitarian or relational terms, which I both specify with several concrete examples in a South African context and contrast with the more dominant approaches. (shrink)

The paper discusses the sense in which the changes undergone by normative economics in the twentieth century can be said to be progressive. A simple criterion is proposed to decide whether a sequence of normative theories is progressive. This criterion is put to use on the historical transition from the new welfare economics to social choice theory. The paper reconstructs this classic case, and eventually concludes that the latter theory was progressive compared with the former. It also briefly comments on (...) the recent developments in normative economics and their connection with the previous two stages. (Published Online April 18 2006) Footnotes1 This paper suspersedes an earlier one entitled “Is There Progress in Normative Economics?” (Mongin 2002). I thank the organizers of the Fourth ESHET Conference (Graz 2000) for the opportunity they gave me to lecture on this topic. Thanks are also due to J. Alexander, K. Arrow, A. Bird, R. Bradley, M. Dascal, W. Gaertner, N. Gravel, D. Hausman, B. Hill, C. Howson, N. McClennen, A. Trannoy, J. Weymark, J. Worrall, two annonymous referees of this journal, and especially the editor M. Fleurbaey, for helpful comments. The editor's suggestions contributed to determine the final orientation of the paper. The author is grateful to the LSE and the Lachmann Foundation for their support at the time when he was writing the initial version. (shrink)

Introduction : ethical economics? -- The sovereign consumer -- Two myths about economic growth -- The politics of pay -- Happiness -- Pricing life and nature -- New worlds of money : public services and beyond -- Conclusion.

Prioritarianism is the view that we ought to give priority to benefiting those who are worse off. Sufficientism, on the other hand, is the view that we ought to give priority to benefiting those who are not sufficiently well off. This paper concerns the relative merits of these two views; in particular, it examines an argument advanced by Roger Crisp to the effect that sufficientism is the superior of the two. My aim is to show that Crisp's argument is unsound. (...) While I concede his objections against the particular prioritarian views that he considers, I propose a different version of prioritarianism that is invulnerable to those objections. (shrink)

This is a systematic evaluation of the main arguments for and against the market as an instrument of social organization, balancing efficiency and justice .

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)

In this paper we want to explore an argumentative pattern that provides a normative justification for expected utility functions grounded on empirical evidence, showing how it worked in three different episodes of their development. The argument claims that we should prudentially maximize our expected utility since this is the criterion effectively applied by those who are considered wisest in making risky choices (be it gamblers or businessmen). Yet, to justify the adoption of this rule, it should be proven that this (...) is empirically true: i.e., that a given function allows us to predict the choices of that particular class of agents. We show how expected utility functions were introduced and contested in accordance with this pattern in the 18th century and how it recurred in the 1950s when M. Allais made his case against the neobernoullians. (shrink)

In this paper I offer an account of the normative dimension implicit in D. Bernoulli’s expected utility functions by means of an analysis of the juridical metaphors upon which the concept of mathematical expectation was moulded. Following a suggestion by the late E. Coumet, I show how this concept incorporated a certain standard of justice which was put in question by the St. Petersburg paradox. I contend that Bernoulli would have solved it by introducing an alternative normative criterion rather than (...) a positive model of decision-making processes. (shrink)

Introduction : ethical economics? -- The sovereign consumer -- Two myths about economic growth -- The politics of pay -- Happiness -- Pricing life and nature -- New worlds of money : public services and beyond -- Conclusion.

Deirdre McCloskey is rightly one of the most recognizable names in economics. She views economics as a language that uses all the rhetorical devices of everyday conversation and therefore it should be judged by aesthetic and literary standards and not the criteria of mathematical rigor that is espoused by the mainstream. This controversial standpoint has been hugely influential and this examination of the methodological and philosophical consequences of her work is overdue, and very welcome.

By assembling authors with a wide range of different disciplinary backgrounds, from philosophy, literature, political science, sociology to medical anthropology ...

This is a systematic evaluation of the main arguments for and against the market as an instrument of social organization, balancing efficiency and justice .

This essay is the introduction to a special debate issue of the journal "Basic Income Studies" on the topic of whether libertarians should endorse a universal basic income. The essay attempts to clarify some common uses of the term 'libertarianism" as it is used by moral and political philosophers. It identifies some important common features of libertarian normative theories.