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Basing their claims on findings in the behavioral sciences that illuminate cognitive deficiencies, scholars spanning multiple disciplines argue that certain features of free market capitalist societies threaten human wellbeing, especially insofar as such societies are marked by a proliferation of consumer choices and incessant demands on decision making. This paper thus attempts three things. First, it outlines the criticisms of the expansive freedoms found in free market societies, based on those findings, in order to provide a reliable overview of the (...) |
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Existence value refers to the value humans ascribe to the existence of something, regardless of whether it is or will be of any particular use to them. This existence value based on preference satisfaction should be taken into account in evaluating activities that come with a risk of species extinction. There are two main objections. The first is that on the preference satisfaction interpretation, the concept lacks moral importance because satisfying people’s preferences may involve no good or well-being for them. (...) |
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Hausman and McPherson defend welfare economics by claiming that even if welfare does not consist in preference satisfaction, preferences still provide good, if fallible, evidence of welfare. I argue that this strategy does not yet fully solve the problems for welfare economics stemming from the preference satisfaction theory of welfare. More work is needed to show that our self-interested preferences are sufficiently reliable, or in some other sense our best, evidence of well-being. Thus, my aim is to identify the challenges (...) |
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This paper presents arguments that challenge what I call the fact/value separability thesis: the idea, roughly, that factual judgements can be made independently of judgements of value. I will look at arguments to the effect that facts and values are entangled in the following areas of the scientific process in economics: theory development, economic concept formation, economic modelling, hypothesis testing, and hypothesis acceptance. |
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The value of health states is often understood to depend on their impact on the goodness of people's lives. As such, prominent health states metrics are grounded in particular conceptions of wellbeing – e.g. hedonism or preference satisfaction. In this paper, I consider how liberals committed to the public justification requirement – the requirement that public officials choose laws and policies that are justifiable to their citizens – should evaluate health states. Since the public justification requirement prohibits public officials from (...) |
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Policy-makers sometimes aim to improve well-being as a policy goal, but to do this they need some way to measure well-being. Instead of relying on potentially problematic theories of well-being to justify their choice of well-being measure, Daniel Hausman proposes that policy-makers can sometimes rely on preference-based measures as evidence for well-being. I claim that Hausman’s evidential account does not justify the use of any one measure more than it justifies the use of any other measure. This leaves us at (...) |
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In traditional decision theory, utility is regarded as a mathematical representation of preferences to be inferred from agents hedonic experiences. Some go as far as to contend that utility is literally computed by specific neural areas and urge economists to complement or substitute their notion of utility with some neuro-psychological construct. In this paper, I distinguish three notions of utility that are frequently mentioned in debates about decision theory and examine some critical issues regarding their definition and measurability. Moreover, I (...) |
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This paper argues that, in light of the apparent settled nature of economists’ judgement on the issue of trade liberalization, the profession has stopped thinking critically about the question and, as a consequence, makes poor-quality arguments justifying their consensus. To develop support for this claim, the paper first recounts what economic analysis can say about trade liberalization. Then it analyses the quality of the arguments that economists make in support of free trade. The paper argues that the standard argument made (...) |
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The paper explores Islamic morality within labor market realities. It presents Islamic moral axioms that are expected to guide employer–employee relationships. It provides an extensive review of Islamic moral ideals related to fairness in the labor market. Based on survey data from 319 individuals in the Saudi labor market, it tests three hypotheses related to religiosity, secular aspirations, and perception and practice of fairness in the labor market. Using multinomial logistic regression, the findings from several models clearly support all three (...) |
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Distributive egalitarians believe that distributive justice is to be explained by the idea of distributive equality (DE) and that DE is of intrinsic value. The socio-relational critique argues that distributive egalitarianism does not account for the “true” value of equality, which rather lies in the idea of “equality as a substantive social value” (ESV). This paper examines the socio-relational critique and argues that it fails because – contrary to what the critique presupposes –, first, ESV is not conceptually distinct from (...) |
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