Well-being can be promoted in two ways. Firstly, by affecting the quantity, quality and allocation of bundles of consumption (the Resource Approach), and secondly, by influencing how people benefit from their goods (the Taste Approach). Whereas the former is considered an ingredient of economic analysis, the latter has conventionally not been included in that field. By identifying the gain the Taste Approach might yield, the article questions whether this asymmetry is justified. If successfully exercised, the Taste Approach might not (...) only enable people to raise their wellbeing, but also provide solutions to a number of issues such as sustainable development and global justice. The author argues that recently developed accounts such as Happiness Economics (HE) and Libertarian Paternalism (LP) both can be considered specifications of the Taste Approach. Furthermore a third specification is identified: Inexpensive Preference Formation (IPF). Whereas LP suggests that choice architecture should be exercised when rationality fails, IPF holds that governance in certain instances should improve choices also in absence of no such failure. (shrink)

To effectively teach the United Nations Sustainable Development Goals to enhance corporate social responsibility, we need to understand the predictors of business student predispositions towards the SDGs. We examine whether location, authoritarianism, religiosity, and individualism influence university business student SDG preferences. Results indicate authoritarian and religious business students emphasize SDGs with an orientation towards the health and economic well-being of their local communities. The results also indicate the most significant factor in predicting SDG preference was university location. (...) Southeastern U.S. students were more supportive of people/prosperity-oriented SDGs, indicating greater concern with the social safety net and basic human needs, whereas Hawaiian students were more supportive of planet-oriented SDGs indicating greater concern for environmental issues. Implications for teaching SDGs to university business students are discussed. (shrink)

This book is about preferences, principally as they figure in economics. It also explores their uses in everyday language and action, how they are understood in psychology and how they figure in philosophical reflection on action and morality. The book clarifies and for the most part defends the way in which economists invoke preferences to explain, predict and assess behavior and outcomes. Hausman argues, however, that the predictions and explanations economists offer rely on theories of preference formation that (...) are in need of further development, and he criticizes attempts to define welfare in terms of preferences and to define preferences in terms of choices or self-interest. The analysis clarifies the relations between rational choice theory and philosophical accounts of human action. The book also assembles the materials out of which models of preference formation and modification can be constructed, and it comments on how reason and emotion shape preferences. (shrink)

In a number of recent publications, Cass Sunstein and Richard Thaler have argued for a novel approach to the design of public policy. Their proposal has received a great deal of attention, both within academic circles and the public at large. Drawing upon evidence from behavioral economics and empirical psychology, the authors attempt to demonstrate that the conventional antagonism between libertarians and paternalists within political theory dissolves in conditions that obtain widely in public decision-making. Where free choice and the promotion (...) of individual welfare can coexist, the authors believe that designers of public policy ought to be libertarian paternalists. -/- In this paper I criticize their proposal on grounds that the authors are unable to sufficiently motivate the paternalistic element of their approach. I argue that the empirical evidence cited by the authors is capable of supporting a number of competing approaches, including what I call libertarian utilitarianism and libertarian justice. Since the evidence that the authors draw upon does not provide us any grounds for selecting between these rival approaches, I conclude that Sunstein and Thaler are unable to provide us with a convincing guide for the design of public policy. In order to show that this is the case, I consider three arguments in favor of libertarian paternalism, and find each lacking. I end with some comments about what we can properly conclude on the basis of Sunstein and Thaler’s arguments. (shrink)

The tenuous claims of cost-benefit analysis to guide policy so as to promote welfare turn on measuring welfare by preference satisfaction and taking willingness-to-pay to indicate preferences. Yet it is obvious that people's preferences are not always self-interested and that false beliefs may lead people to prefer what is worse for them even when people are self-interested. So welfare is not preference satisfaction, and hence it appears that cost-benefit analysis and welfare economics in general (...) rely on a mistaken theory of well-being. This essay explores the difficulties, criticizes standard defences of welfare economics, and then offers a new partial defence that maintains that welfare economics is independent of any philosophical theory of well-being. Welfare economics requires nothing more than anevidentialconnection between preference and welfare: in circumstances in which people are concerned with their own interests and reasonably good judges of what will serve their interests, their preferences will be reliable indicators of what is good for them. (shrink)

The possibility that individuals might have expensive tastes is the basis of arguments for and against various theories of how social resources should be allocated. Expensive tastes play a role, for example, in Dworkin's advocacy of equality of resources rather than welfare, in Rawls's account of primary goods, in Scanlon's argument for an objective criterion of well-being, and in Arneson's favoring of equality of opportunity for welfare rather than equality of welfare.Much of the argument (...) about whether expensive tastes should be treated distinctively concerns whether or not individuals choose to have such tastes. If individuals are simply born with different tastes, or perhaps if they develop them through socialization when young, it is suggested, individuals should not be seen as responsible for their expensive tastes. However, it is argued that individuals should not be com pensated for expensive tastes that they have freely chosen — or would hypothetically have chosen — to cultivate. (shrink)

It is argued that 'sustainable development' has been defined in such a way as to be either morally repugnant or logically redundant. 'Strong' sustainability, overriding all other considerations, is morally unacceptable as well as totally impractical; and 'weak' sustainability, in which compensation is made for resources consumed, offers nothing beyond traditional economic welfare maximisation. The 'sustainability' requirement that human well-being should never be allowed to decline is shown to be irrational. Welfare economics can accommodate distributional (...) considerations, and, suitably defined, the concept of welfare can include the subjective effects of changes in – as well as the levels of – well-being. Hence there is no reason why welfare maximisation should not remain an overriding policy objective. Nor can sustainability be regarded as a 'constraint' on welfare maximisation unless there is a clear conflict between the two – which has yet to be demonstrated. This is not to deny the importance of intergenerational justice, nor the need for economic incentives to correct market imperfections if the environment is to be managed in a socially optimal manner. Apart from a few small developing countries heavily dependent on minerals or other finite primary products, the measurement of some wider concept of 'sustainable' GNP is a waste of time and such estimates as have been made are virtually worthless. (shrink)

As persons, beings with a capacity for autonomy, we face a certain practical task in living out our lives. At any given period we find ourselves with many desires or preferences, yet we have limited resources, and so we cannot satisfy them all. Our limited resources include insufficient economic means, of course; few of us have either the funds or the material provisions to obtain or pursue all that we might like. More significantly, though, we are limited to a single (...) life and one of finite duration. We also age, and pursuits that were possible at earlier points within a life may become impossible at later stages; we thus encounter not only an ultimate time limit but episodic limits as well. Because we must live our lives with limited resources—material and temporal—we are pressed to choose among and to order our preferences. Without some selection and ordering, few if any of them would be satisfied, and we would be unable to live lives that are recognizably good at all. Moreover, we would be unable to function well as the autonomous beings that we are. Our practical task then is to form a coherent, stable, and attractive ordering of aims—to develop a conception of our good. (shrink)

In a number of recent publications, Cass Sunstein and Richard Thaler have argued for a novel approach to the design of public policy. Their proposal has received a great deal of attention, both within academic circles and the public at large. Drawing upon evidence from behavioral economics and empirical psychology, the authors attempt to demonstrate that the conventional antagonism between libertarians and paternalists within political theory dissolves in conditions that obtain widely in public decision-making. Where free choice and the promotion (...) of individual welfare can coexist, the authors believe that designers of public policy ought to be libertarian paternalists. In this paper I criticize their proposal on grounds that the authors are unable to sufficiently motivate the paternalistic element of their approach. I argue that the empirical evidence cited by the authors is capable of supporting a number of competing approaches, including what I call libertarian utilitarianism and libertarian justice. Since the evidence that the authors draw upon does not provide us any grounds for selecting between these rival approaches, I conclude that Sunstein and Thaler are unable to provide us with a convincing guide for the design of public policy. In order to show that this is the case, I consider three arguments in favor of libertarian paternalism, and find each lacking. I end with some comments about what we can properly conclude on the basis of Sunstein and Thaler’s arguments. (shrink)

Human development is meant to be transformational in that it aims to improve people's lives by enhancing their capabilities. But who does it target: people as they are or the people they will become? This paper argues that the human development approach relies on an understanding of personal identity as dynamic rather than as static collections of preferences, and that this distinguishes human development from conventional approaches to development. Nevertheless, this dynamic understanding of personal identity is presently poorly conceptualized and (...) this has implications for development practice. We identify a danger of paternalism and propose institutionalizing two procedural principles as side constraints on development policies and projects: the principle of free prior informed consent and the principle of democratic development. -/- . (shrink)

This essay uses concepts from Adam Smith’s The Theory of Moral Sentiments to develop ideas about choice and welfare. I use those ideas to offer several challenges to common approaches to behavioral welfare economics and new paternalist policy making. Drawing on Smith’s dialectical concept of practical reason, which he develops in expositing ideas about self-awareness and self-judgment, I first argue that inconsistency need not be viewed as pathological. Inconsistent choices might indicate legitimate context-dependencies as individuals reflect over disjointed (...) perspectives and act accordingly. Understanding inconsistency as reasonable raises epistemic difficulties for identifying errant choices and designing corrective policies. Second, I draw on Smith’s theory of the impartial spectator to discuss dynamic aspects of welfare. Welfare is not simply a matter of preference satisfaction but involves a sense of progress and improvement towards better preferences. Smith’s account suggests that economists interested in welfare should focus on institutional arrangements that facilitate self-development. (shrink)

Over the last 30 years the Indian philosopher-economist Amartya Sen has developed an original normative approach to the evaluation of individual and social well-being. The foundational concern of this ‘capability approach’ is the real freedom of individuals to achieve the kind of lives they have reason to value. This freedom is analysed in terms of an individual’s ‘capability’ to achieve combinations of such intrinsically valuable ‘beings and doings’ (‘functionings’) as being sufficiently nourished and freely expressing one’s political views. In (...) this account, ‘development’ is conceived as the expansion of individuals’ capability, and thus as a concept that goes beyond the economic growth of third world countries. My thesis is a philosophical examination of Sen’s capability approach. In the first part (chapters 1-3) I present and defend my interpretation of Sen’s work. (shrink)

This essay criticizes the proposal recently defended by a number of prominent economists that welfare economics be redirected away from the satisfaction of people's preferences and toward making people happy instead. Although information about happiness may sometimes be of use, the notion of happiness is sufficiently ambiguous and the objections to identifying welfare with happiness are sufficiently serious that welfare economists are better off using preference satisfaction as a measure of welfare. The (...) essay also examines and criticizes the position associated with Daniel Kahneman and a number of co-authors that takes welfare to be ‘objective happiness’ – that is, the sum of momentary pleasures. (shrink)

This paper aims at gaining a better understanding of the inherent paradoxes within sustainability discourses by investigating its basic assumptions. Drawing on a study of the metaphoric references operative in moral language, we reveal the predominance of the ‘well-being = wealth’ construct, which may explain the dominance of the ‘business case’ cognitive frame in sustainability discourses. We incorporate economic well-being variables within a philosophical model of becoming well :221–231, 2005), highlighting the way in which these variables consistently (...) articulate a combination of ‘objective’ and ‘subjective’ concerns. We then compare this broad understanding of well-being with the metaphors operative in the sustainable development discourse and argue that the sustainability discourse has fallen prey to an overemphasis on the ‘business case’. We proceed to draw on Georges Bataille to challenge the predominance of these value priorities and to explore which mindshifts are required to develop a more comprehensive understanding of what is needed to enable ‘sustainable development’. (shrink)

In the article, the authors attempt to analyze the various origins of libertarian paternalism - political, social, cultural, and try to explore the essence of this social and social phenomenon. Libertarian paternalism has both positive and negative features, which are actualized, in turn, by modern planetary challenges.The aim and the tasks: analysis of the essence of the social phenomenon of libertarian paternalism, and the study of its origins - political, social, cultural. Research methods are historical, structural and (...) functional, systemic and equitable.For the revision of specific projects, it is also the principle of consistency, objectivity, convergence from the abstract to the concrete. Research results: Democracy and human rights have found themselves in the grip of challenges, to which both the government and the private sector of the economy in particular react in a peculiar way. In the civilized world, the problem of social protection is acute; an ordinary person dramatically perceives the massive pressure of advertising, the media, certain structures that are interested, first of all, in the early sale of their products - material, spiritual and social. Libertarian paternalism is seen by the authors as a possible way to reconcile these issues, especially from the point of view of protecting the human rights and freedoms. Discussion. In this regard, other authors note that in the practical implementation of Nudge technology, people rarely follow the ideal interpretation of private well-being in terms of full satisfaction of needs. Opponents suggest in this regard that people can be guided by temporary benefits in terms of irrational consumer behavior, that is, the socio-psychological bases of consumerism are affected. Conclusion. Libertarian paternalism was created as a reaction to political, economic and sociocultural changes in society under the impact of globalization, informatization and revision of social programs in the governments.The concept of libertarian paternalism and its practical implementation of nudge technology is relevant and promising in the context of a constant increase in the level of welfare of citizens. Libertarian paternalism affects the most subtle sociophilosophical, socio-psychological elements of the consciousness of an individual who has become hostage to government programs and private projects. The price of a rational choice of an individual is his own freedom, in the context of modern realities of social life. (shrink)

Global GDP is more than 100 trillion dollars, yet 10 % of the world’s population still live in extreme poverty on less than $1.90 per day. No one should have to live like that: alleviating poverty is a minimal moral obligation implied by nearly every secular and religious moral system. Unfortunately, neither economic growth nor conventional international aid can be relied upon to fulfil this obligation. A global basic income programme that transferred $1 per day from the rich world to (...) each poor person would eliminate extreme poverty directly and at negligible cost. It is the least we should do. (shrink)

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 that remain and clarify what additional work is needed before Hausman and McPherson's defence of welfare economics succeeds. (shrink)

Behavioural welfare economics has lately been challenged on account of its use of the satisfaction of true preferences as a normative criterion. The critique contests what is taken to be an implicit assumption in the literature, namely that true preferences are context-independent. This assumption is considered not only unjustified in the behavioural welfare economics literature but unjustifiable – true preferences are argued to be, at least sometimes, context-dependent. This article explores the implications of this ‘critique of the inner (...) rational agent’. I argue that the critique does not support a wholesale shift away from the use of true preferences as an evaluative standard in normative economics; instead, the critique implies that behavioural welfare economists need to inquire into and establish the ‘source’ of particular context-dependent choices in individuals’ decision-making. The source determines the permissibility of correcting individuals’ context-dependent choices and can, in some situations, support decisive welfare judgements. (shrink)

In this innovative and cogent presentation of her concept of sustainable happiness, Catherine O’Brien outlines how the leading recommendations for transforming education can be integrated within a vision of _well-being for all_. Solution-focused, the book demonstrates how aspects of this vision are already being realized, and the potential for accelerating education transitions that enable people and ecosystems to flourish. Each chapter assists educators to understand how to apply the lessons learned, both personally and professionally. The aim is to (...) support educators to experience themselves as change-makers with growing confidence to implement new teaching strategies and inspire their students to become change-makers as well—engaged in deep learning that develops character, connections with life, and invigorating collaborations that revitalize the very purpose of education. (shrink)

Our goal in this chapter is to draw on empirical work about preference formation and welfare to propose a distinctive form of paternalism, libertarian in spirit, one that should be acceptable to those who are firmly committed to freedom of choice on grounds of either autonomy or welfare. Indeed, we urge that a kind of ‘libertarian paternalism’ provides a basis for both understanding and rethinking many social practices, including those that deal with worker (...) class='Hi'>welfare, consumer protection, and the family. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:Herman Daly’s Economics for a Full World: His Life and Ideas by Peter VictorJeroen Van Den Bergh (bio)Victor, Peter (2022). Herman Daly’s Economics for a Full World: His Life and Ideas. Routledge, Oxon UK and New York USA (ISBN: 978–0–367-55694-5).Herman Daly (1938–2022) spent a lifetime thinking about how to achieve a sustainable economy. In an inclusive biography, Canadian economist and environmental scientist Peter Victor discusses his ideas, (...) critiques and debates with others, while clarifying his motivations and struggles. Daly has greatly influenced others, as reflected by numerous prizes awarded to him. This influence is confirmed by original text boxes in the book that contain statements of many colleagues about his work and person, obtained through a questionnaire survey by the author.As a young man, Daly decided to study economics as he imagined it combined humanities and science. He was disappointed in it being less scientific than hoped, but his environmental concern motivated him to work on reestablishing the foundations of the field in environmental science and ethics. Daly is best known for his critique of economic growth and his alternative of the “steady-state economy.” He contributed, however, many other novel concepts and ideas during his lifetime, such as the ends-means spectrum, empty vs full world, uneconomic growth and optimal scale.Victor explains these ideas in a calm pace, showing a deep knowledge of Daly’s work. He, moreover, is able to connect it to ongoing sustainability research. He does all this in the course of thirteen chapters, covering Daly’s early life, education and career, his views on economics, his personal philosophy and the role of religion, his proposal for a steady-state economy, and his opinions on economic growth, population and migration, money and banking, and the perils of trade. [End Page 117]Ultimate endsMany consider Herman Daly to be a heterodox and even heretic economist. He associates himself with ecological economics, the field he co-founded. But while some of his ideas seem radical, many of his core proposals do not deviate substantially from mainstream economics. For instance, his “ultimate ends” concept is perfectly consistent with the broad notion of “welfare” in standard economics. In line with this, many welfare economists—such as Samuelson (1961), Mishan (1967), Hirsch (1976), Sen (1976), Scitovsky (1976) and Frank (1985)—have expressed themselves as critical of GDP (gross domestic product) dominance and growthmania (van den Bergh 2009). In fact, neoclassical economics is not married to economic growth—this is more the empirical side of macroeconomics. While Daly recognizes these subtleties, some of his followers do not.Daly sees his Protestant religion as delivering the ultimate ends, but Victor notes that this has not led to concrete suggestions. Ultimate ends based in Christian religion may be motivated by the promise of eternal (after)life, which in effect means gratifying selfish preferences. Instead, a humanistic perspective—which Daly also seems to embrace—would stress solidarity with future generations and a bioethical view of solidarity with other species. These distinct viewpoints, combined with diversity of human preferences and experiences, suggest that it will be difficult if not impossible for democratic societies to agree upon ultimate means.The Index of Sustainable Economic Welfare (ISEW), a kind of greened or sustainable GDP metric, is Daly’s most concrete elaboration of ultimate means (Daly and Cobb 1989). For many OECD (Organization for Economic Cooperation and Development) countries, it indicates a stabilization of welfare, despite continued GDP growth (Lawn 2003; Posner and Costanza 2011). As clarified by Victor, The ISEW remains close to GDP, produces a monetary measure, has a simple and transparent calculation method, and received considerably attention from theoretical and empirical angles. In view of this, it may well represent the best candidate for a beyond-GDP metric that can replace the GDP. What urgently fails is an effective institutional procedure to achieve its widespread adoption (van den Bergh 2022).Religion, evolution and biodiversityDaly’s religious standpoint make him skeptical of the modern scientific worldview which regards the world to be governed by materialism and evolution, with no role for a higher purpose or an ultimate end. This led him... (shrink)

This study aims to examine the relationship between public financial management and indicators of well-being among 29 Economic Co-operation and Development (OECD) countries using a balanced panel dataset over the period between 2005 and 2019. This study used a matrix of seven proxy measures of public financial management, which works as an integrated financial system to improve the objective quality of well-being measured by employment, education level, productivity, and wages. Using the generalised method of moments, the estimator's results, (...) indicate that higher government revenues, expenses (% of GDP) lead to lower well-being while the higher net lending /net borrowing, cost of business start-up procedures, and adjusted gross savings (% of GNI) lead to increase well-being measured by spending on education. The higher government revenues, regulatory quality, government effectiveness, and higher net lending /net borrowing lead to improved well-being, while the higher cost of business start-up procedures (% of GNI per capita) leads to lower well-being measured by wages. The higher government revenues, government effectiveness, and higher net lending/net borrowing lead to increased well-being. In contrast, the higher expense (% of GDP) leads to lower well-being measured by productivity labor. The higher government revenues, government effectiveness, regulatory quality, net lending /net borrowing and adjusted gross savings lead to lower well-being, while the higher cost of business start-up procedures leads to increased well-being measured by employment rates. The OECD countries should prepare fiscal policies to ensure the sustainability of public finances in the long run and identify emergency response mechanisms to overcome the challenges of improving the objective quality of well-being. (shrink)

The pursuit of happiness is a long-enshrined tradition that has recently become the cornerstone of the American Positive Psychology movement. However, “happiness” is an over-worked and ambiguous word, which, it is argued, should be restricted and only used as the label for a brief emotional state that typically lasts a few seconds or minutes. The corollary proposal for positive psychology is that optimism is a preferable stance over pessimism or realism. Examples are presented both from psychology and economics (...) that illustrate the dangers of optimism, and in which better outcomes can occur with a pessimistic stance. A more sophisticated approach is then presented in which, in relation to well-being and quality of life, neither optimism nor pessimism is seen as inherently better than the other, but, rather, in which psychological flexibility may contribute optimally to health and well-being. (shrink)

This paper focuses on how African national leaders can make global democracy relevant to sustainable development in Africa. Seeing the problem of sustainable development in Africa from the structural and functional angles, this paper begins with an introduction and a clarification of terms such as ‘democracy’, ‘globalization’ and ‘development’. It then analyzes the underlying foundations of global democracy and its implications to cultures of the African peoples. This paper tries to place the impact of global democracy on Africa (...) in perspectives by weighing the pros and cons of global democracy. Tracing the genesis of functional and developmental problems in the post-colonial Africa to structural problems occasioned by Africa’s colonial experience, this paper however strongly contends that the main problem militating against sustainable development in the post-colonial Africa is bad politics and mismanagement of national resources. African peoples need to be taught that some of the African national leaders are responsible for the bad condition of underdevelopment in the global period because of bad political governance ranging from the inability of African leaders to calculate all the relevant factors in the making of their policies as well as failing to provide effective technologies and competent staff to deal with rigging of elections and other electoral problems in addition to corruption and mismanagement of public funds. There is no way for the African nations to survive without production of goods and services in terms of farming, agriculture and diversification of their revenue base. National leaders of the various African nations cannot avoid policies that enable the industrialization of African nations through the provision of the basic infrastructures and viable amenities for social, economic, and political development. They should however be wary of debt traps of International Monetary Fund and World Bank because borrowing nations are often given difficult conditions that often make it difficult for them to obtain the desired benefits in terms of sustainable development. The study recommends that for sustainable development to take place in Africa there is need for national leaders to embrace good political governance that places the people at the centre of development to be manifested in guileless electoral process and effective management of the resources. This paper contends that the realization of sustainable development in African nations requires moral, political, and economic integration. It concludes with perspectives for further research on the issue. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:Kantian Ethics and Economics: Autonomy, Dignity, and CharacterIvan A. BoldyrevMark D. White. Kantian Ethics and Economics: Autonomy, Dignity, and Character. Stanford, CA: Stanford University Press, 2011. Pp. xi + 270. Cloth, $55.00.This remarkable book provides a new ethical perspective for economics based on Kantian ethics of autonomy and dignity. There are two main messages in it that I find particularly important. First, Mark White derives from Kant the (...) idea of irreducible moral principles that govern the behavior of economic agents independently of welfarist and, more generally, consequentialist concerns. These principles of duty and the “incomparable worth” (21) of human dignity, as well as justice or rights, may not be economically traded off against some other motivations; hence, they simply evade economic reasoning altogether.Second, White endorses a version of libertarian Kantianism that treats people as individuals in essence (“autonomous”) and social in orientation (respecting the rights and the choices of the others). In discussing individualism, White attacks the conventional wisdom of economics and claims that preferences alone do not account for the identity of individuals [End Page 298] in space and time, although their unique characters do. Persons should be given free choice (absent in deterministic rational-choice models) and hence responsibility for their choices that incorporates the social factors in decision-making. However, White never mentions the almost insurmountable difficulties associated with fleshing out the truly individual features of a given person. Although he allows for a person’s identity and character changing over time, he does not recognize that character itself is in many respects a social construction.White criticizes paternalistic economic policies that suggest manipulating choice environments in order to follow the “true” preferences of the individuals. Instead, real consent, as satisfying both relevant preferences and principles (e.g. rights and human dignity), is, in his view, the sole criterion for justifying particular policy measures—not Pareto-efficiency or Kaldor-Hicks compensation. Economists’ obsession with efficiency leading to the misconceived notions such as “efficient level of crime” or “manageable level of terrorism” is also severely criticized.For White, the most popular formalistic version of the categorical imperative is less important than the other two—prohibiting treating other people simply as means and instituting the “Kingdom of Ends.” Formalism is reserved merely for the negative evaluation of actions and providing strict perfect duties that give clear guidance concerning what should not be done. White’s “Kantian-economic” model of decision-making incorporates perfect duties as constraints, and imperfect (positive) duties as preferences. He also stresses that for Kant, duties derived from the imperative depend on empirical knowledge, the context of decision-making, and judgment as a unique personal interpretation of the moral law. He further emphasizes the intersubjective role of Kantian morality: moral law should be universalizable to all rational persons (the “Kingdom of Ends” formula of the imperative), whereas rationality means not just following the patterns of behavior developed in the preference-oriented choice model, but rather acting on one’s beliefs and desires or choosing not to follow them, thus exhibiting genuine autonomy.The new and important contribution to the discussion is an explicit treatment of will as an inner faculty that, together with judgment, constitutes a person’s character or “self,” and helps to overcome the mere inclination to follow duty. Will is the missing link between decision and action and should be “well-trained” for bringing about true morality.The book is clearly written, and the author has upheld the interdisciplinary appeal of the topic, demonstrating an outstanding knowledge of the vast literature on ethics (both Kantian and not) and economics. White’s emphasis on the irreducibility of moral principles is absolutely relevant for current economic and political debates. However, some reservations are in order.There is an ambiguity concerning the status of his analysis. If in its positive aspect White’s recommendations for economists is to accept the Kantian vision of morality, then almost no arguments are given for this, and his modifications of the standard choice model are introduced in an ad hoc manner, just to reconcile it with the Kantian framework. Are an individual’s decisions to act on principles and to overcome mere inclinations really... (shrink)

In the article the author presents a guide to the development of happiness in Ukraine at the stage of its transformation. The author substantiates the importance of taking into account the person's happiness in the integral model of a social organism and the forms of its steady development. Happiness of a person as a universal social value is particularly acute for modern Ukraine in the light of the significant transformations that take place today. Over the past decade, (...) Ukrainian society did not know the problems of military aggression, terrorism, information and psychological influence, manipulation of individual behavior and consciousness, they lead to a change in the picture of the world, the destruction of the integrity of being of individuals. The author analyzes the reasons for the destruction of happiness of the general population based on the mutual influence of personal happiness and public happiness. In this article, the author understands happiness as a dynamic state of social being, in which, in the process of active conscious-creative activity, a person realizes socially significant needs, interests, goals, values, reaches harmony with the internal and external worlds. The author shows for the achievement of happiness the necessary activity of subjects of social development. The scale of happiness is personal and social. Seeds of personal happiness should be sought in the recent Soviet past. Happiness depends on many external and internal conditions. Thus, in order to ensure the level of happiness of Ukrainians, the necessary sustainable development has increased: a harmonious combination of economic, social, environmental, political, spiritual prerequisites that will protect the future generations, provide opportunities for the development of freedom of life, careful attitude to the environment. Stability in the functioning of society, the development of democratic freedoms, the trust of citizens in the institutions of power, as well as labor, are the prerequisites for the formation of happiness. (shrink)

Over the last decades, empirical research on subjective well-being in the social sciences has provided a major new stimulation of the discourse on individual happiness. Recently this research has also been linked to economics where reported subjective well-being is often taken as a proxy measure for individual welfare. In our review, we intend to provide an evaluation of where the economic research on happiness stands and of three directions it might develop. First, it offers new (...) ways for testing the basic assumptions of the economic approach and for going about a new understanding of utility. Second, it provides a new possibility for the complementary testing of theories across fields in economics. Third, we inquire how the insights gained from the study of individual happiness in economics affect public policy. (shrink)

Over the last decades, empirical research on subjective well-being in the social sciences has provided a major new stimulation of the discourse on individual happiness. Recently this research has also been linked to economics where reported subjective well-being is often taken as a proxy measure for individual welfare. In our review, we intend to provide an evaluation of where the economic research on happiness stands and of three directions it might develop. First, it offers new (...) ways for testing the basic assumptions of the economic approach and for going about a new understanding of utility. Second, it provides a new possibility for the complementary testing of theories across fields in economics. Third, we inquire how the insights gained from the study of individual happiness in economics affect public policy. (shrink)

This article advances sustainability towards a new logic that favors the flourishing of Sustainable Development Goals (SDGs) and well-being from North to South. It presents a Global Dual-Perspective (GDP) and a Dynamic Equilibrium Framework (DEF) that inform sustainability, management, and international business with a paradoxical view of the SDGs and a strengthened analysis that outlines the role of multinational enterprises (MNEs) in addressing the SDGs within and across the North–South. This article reveals that organizations will effectively unleash virtuous (...) cycles of SDGs and well-being when confronting and juxtaposing environmental, health, social, economic, and law-oriented goals. Furthermore, virtuous cycles will be more successful when splitting and integrating short- and long-term conflicting goals within and across the North–South to fuel systemic resilience and sustainable development. (shrink)

This book addresses a range of relevant theoretical issues, including the possibility of an interpersonally comparable measure of well-being, or “utility” metric; the moral value of equality, and how that bears on the form of the social welfare function; social choice under uncertainty; and the possibility of integrating considerations of individual choice and responsibility into the social-welfare-function framework. This book also deals with issues of implementation, and explores how survey data and other sources of evidence might be (...) used to calibrate both a utility metric and a social welfare function, and whether distributive goals are ever best pursued through regulation rather than the tax system. In working through this range of theoretical and practical issues, the book draws from a wide variety of literatures, including philosophical scholarship on equality, responsibility, the nature of well-being, and personal identity over time; the social choice literature within economics; applied economic literatures concerning the measurement of inequality and poverty; legal and policy-analysis scholarship on cost-benefit analysis, environmental justice, and the choice between regulation and taxation; and the burgeoning field of “happiness studies”. (shrink)

Introduction : environment, society, and the economy -- Environmental, social, and economic collapse -- Evolution of the domination paradigm -- Ecological and social justice movements -- Ethical path to sustainability and well-being.

Welfare in economics is generally conceived of in terms of the satisfaction of preferences, but a general, comparable index measure of welfare is generally not taken to be possible. In recent years, in response to the usage of measures of subjective well-being as indices of welfare in economics, a number of economists have started to develop measures of welfare based on preference-satisfaction. In order to evaluate the success of such measures, I formulate criteria of (...) policy-relevance and theoretical success in the context of preference-satisfaction measures of welfare. I present a detailed case study of the methodological choices put forward in a prominent generalized proposal for measuring welfare through preferences recently published in the American Economic Review. I contrast this with an alternative welfare measure which also uses preferences to weight aspects of welfare: the ICECAP-A measure. I assess the methodology of both approaches in detail and argue that the two goals of a preference... (shrink)

It is a commonly expressed sentiment that the science and philosophy of well-being would do well to learn from each other. Typically such calls identify mistakes and bad practices on both sides that would be remedied if scientists picked the right bit of philosophy and philosophers picked the right bit of science. We argue that the differences between philosophers and scientists thinking about well-being are more difficult to reconcile than such calls suggest, and that pluralism is central (...) to this task. Pluralism is a stance that explicitly drives towards accommodating and nurturing the richness and diversity of well-being, both as a concept and as an object of inquiry. We show that well-being science manifests a contingent pluralism at the level of methodology, whereas philosophy of well-being has largely rejected pluralism at the conceptual level. Recently, things have begun to change. Within philosophy, conceptual monism is under attack. But so is methodological pluralism within science. We welcome the first development, and bemoan the second. We argue that a joined-up philosophy and science of well-being should recognise the virtues of both conceptual and methodological pluralism. Philosophers should embrace the methodological justification of pluralism that can be found in the well-being sciences, and scientists should embrace the conceptual reasons to be pluralist that can be found in philosophical debate. (shrink)

“Libertarian paternalism” aims to harness cognitive biases in order to improve prudential decision-making. Some critics have objected that libertarian paternalism is wrongly manipulative. I argue that this objection is mostly unsuccessful. First, I point out that some strategies endorsed by libertarian paternalists can help people to better appreciate reasons. Second, I develop an account of manipulation according to which an agent manipulates her target by worsening the target’s deliberative position. The means of influence defended by libertarian (...) paternalists—for instance, the judicious use of default rules—are not manipulative in this way. (shrink)

Macroeconomic measures and objectives inform and structure political perception in large systems of governance. Herman Daly and John Cobb attack the objective and measure of economic growth in For the Common Good. However, their attack is paradoxical: 1) they are in favour of strong sustainability, but construct with the ISEW an index of weak sustainability, and 2) they describe humans as person-in- community, but propose an index based on personal consumption. While the ISEW has attracted much attention, the same cannot (...) be said about the person-in- community ontology developed at length and prominently in their work. This essay therefore aims to reconstruct Daly and Cobb's criticism of growth from the person-in- community approach. It defends the ISEW as a debunking index that is motivated by the person-in- community approach and the economy-ecology scale problem, and that also engages in the politics of scale. But this does not mean that the ISEW is also a measure of sustainable economic welfare. Critics expecting this kind of sustainability index are likely to see contradictions, but not the critical role the ISEW can play for democratic accountability. Understanding the latter makes it possible to see the ISEW as a step in the evolution of political perception and action. Accordingly the essay is also intended as a contribution to the understanding of this role in a situation where sustainability indices continue to be calculated, and renewed efforts at the measurement of welfare and happiness are made. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:Happiness in Premodern Judaism: Virtue, Knowledge, and Well-BeingDaniel H. FrankHava Tirosh-Samuelson. Happiness in Premodern Judaism: Virtue, Knowledge, and Well-Being. Cincinnati: Hebrew Union College Press, 2003. Pp. xi + 596. Cloth, $50.00.Franz Rosenzweig tried hard to convince the neoKantian Hermann Cohen of the merits of Zionism and the normalization it would bring to Jews and Jewish life. His attempt met with this response from Cohen: (...) "Oho! So the gang now wants to be happy, does it?" For those ignorant of the history of Jewish philosophy, one might imagine that Jewish philosophers, no less than their non-philosophical kinsmen, were so weighed down by the burdens of history and persecution that happiness could play no role in their theorizing. But happiness plays a key role in the history of Jewish moral and political philosophy, especially in the premodern period. Even Spinoza, the last of the medievals and the first of the moderns, the great critic of the rabbinic tradition and of Maimonides in particular, is concerned in his Ethics with identifying those activities that together constitute human well-being and the good life. Only lately, since the Enlightenment and Kant, has non-eudaimonism been a live option for Jewish thinkers. Only with the rise of (modern) Orthodoxy, and its predilection for construing goodness as rectitude and rule-following, has eudaimonism fallen out of favor. But with Tirosh-Samuelson's weighty volume on happiness in premodern Judaism, there can be no excuse in the future to imagine that all Jews are, or must be, closet Kantians, strict deontologists. To think otherwise seems to come close to taking on the classical (anti-Semitic) dichotomy of legalistic Judaism vs. spiritual Christianity. In it own way, Happiness in Premodern Judaism is a critique of such a one-sided, monochromatic view of Judaism, whether from the Christian or even from the Jewish side.Tirosh-Samuelson writes explicitly as an intellectual historian, rather than as a philosopher. She understands herself and her project as one that presents just the facts, without evaluating them. While one may cavil at a lost opportunity, in the present case this would be churlish, given the enormous erudition on display. After an introductory chapter outlining the foundational moral theories of Plato, Aristotle, and the Hellenistic philosophers, the text presents the (Greek-inspired) areteic wisdom literature of the Second Temple period, the teleological theocentrism of the rabbis, the Greco-Arabic Islamicate culture that nurtured Jewish philosophers from Saadia in the tenth century to Maimonides in the twelfth, the rabbinic and kabbalistic critiques of the philosophical ideal of happiness commencing [End Page 338] with the translation (into Hebrew) of Maimonides' Guide of the Perplexed at the beginning of the thirteenth century, and finally, very important and the focus of much recent scholarly work, the transformation of Jewish eudaimonism through direct contact with Christian Scholasticism and later with the humanist Renaissance. All in all, a millennium and a half of Jewish intellectual history is presented in a sober and scholarly way.Not surprisingly Maimonides plays a pivotal role in the story that Tirosh-Samuelson relates. A Janus-like figure, he represents the culmination and height of accommodation with Greek and Greco-Arabic philosophical culture. However, with the gradual worsening of the socio-economic condition of European Jewry in the thirteenth century, his accommodationism seemed traitorous, and as a result generations of thinkers, mystics and philosophers alike, strove to critically distance themselves from Maimonidean Aristotelianism. Tirosh-Samuelson is admirably clear in pointing out that such anti-Maimonidean tendencies are ill-characterized as anti-philosophical. Hasdai Crescas in the late-fourteenth and early-fifteenth centuries launched a massive critique of Maimonides' physics, metaphysics, and moral philosophy, but did so in as rigorous a manner as any philosopher would. The picture that enfolds over the course of the text is one of vigorous dialectic between partisans of 'alien' (Greek) wisdom and those who viewed such wisdom with considerable suspicion. Such a dialectic parallels, not surprisingly, developments in Christian philosophy.The trajectory of the story of premodern Jewish musings on happiness is from the centrality of reason and intellect, and the contemplative activity that is reason's preeminent actuality, to the primacy... (shrink)

Does a more generous welfare state make people happier and increase their life satisfaction? Available empirical research gives a clear and positive answer to this question. This goes counter to many arguments that the welfare state creates a culture of dependency, leads to heavy-handed bureaucratic intrusions into private life, creates problems concerning personal integrity, is bad for economic growth, implies stigmatization of the poor, and crowds out civil society and voluntarism. This counterintuitive result is explained by to which (...) degree social programs are universal in the coverage and structure. Four common misunderstandings of universal welfare states are discussed and refuted: This it is too costly for the economy, that it cannot be combined with individual choice, that it does not redistribute in favour of the poor and that it should be detrimental to economic growth. Using a "social mechanism" approach, it is argued that the relation between subjective well-being and universal welfare states operates in a complicated causal pattern with two other variables, the degree of corruption and the level of social trust in society. This approach is used to explain why empirically, countries tend to cluster so that countries with large and mostly universal welfare state programs also have low levels of corruption, a high degree of social trust, and high levels of happiness and social well-being. And vice versa, why countries with smaller welfare systems tend to be higher on corruption, have lower levels of social trust, and lower levels of social well-being. (shrink)

Although the impact of market reforms in Swedish health care stands out as not very far-reaching in an international comparison, it represents a route away from the features and basic values normally associated with the Swedish or Scandinavian model. Summarizing the development over the last decades, we may identify signs of sustainability as well as change. Popular support for public provision and a robust institutional structure make far-reaching alterations of existing structures less feasible, although most visible changes this far—incremental (...) though they may be—represent a change in which the normative foundations of the Swedish model are challenged. (shrink)

Amartya Sen’s remarkable endeavour to realize the normative capability of welfare economics goes beyond the impecunious resultants of the neoclassical welfare economy. The neoclassical welfare economy decoratively bracketed values to speculate about factual observations. This was due to the influence of logical positivists and their convictions about experimental scientific statements (primarily mathematical) and their vicinity to empirical truths and analytic statements. Sen adequately inquires “whether morality can be expressed in the form of choice between preference patterns (...) rather than between actions” (Sen, 1997a, 78). “A new phase classical theory” in economics from the hands of Sen and some others put forth two pivotal issues in a unified manner: a. Mathematical models of an economy. b. Ethical reflection on the subject of welfare economy–a value-laden enterprise in Sen’s literature. -/- In general, welfarists and utilitarians affirm that moral values are anchored in individual agency and involve mental metric utilities (pleasure, happiness, pain etc.). This focus, first of all, results in a disadvantage, as it undermines freedom in terms of achievement. Secondly, it pays no heed to achievement reasonably giving more importance to those who are incapable of reflecting on any one of those mental metrics. Besides, Sen argues that equality of opportunity does not accord with the equality of freedom, and its reason is rooted in the scope of the incongruity of human beings and the diversified meanings of efficiency. Developing a general methodological approach to revisit the notion of inequality concerned by exploring a particular substantive stand that Sen aims to underscore involves examining how social arrangements work to define freedom, capabilities, and welfare to ensure comparisons and assessments of quality of life. (shrink)

In this paper I systematically criticise Feldman’s and Haybron’s theories of happiness as subjective well-being [SWB]. Having elaborated their trichotomy between SWB, welfare and virtue, I then outline Aristotle’s rival ethical schema, which construes these as aspects within an inextricable, organic whole, viz. eudaimonia. In order to vindicate this rival schema, I begin with four thought-experiments: Feldman’s Bertha, the indoctrinated housewife, Haybron’s ‘happy slave’, and two of my own. I argue that these demonstrate – contra Feldman and (...) Haybron, but in line with Aristotle – that happiness is essentially conditioned by objective welfare-goods. I then move on to how such goods are essentially conditioned, in turn, by the virtues. It follows that happiness itself is both logically and ontologically conditioned by the practice of the virtues. Although this Aristotelian conclusion faces charges of being moralistic and counter-evidential, it can overcome these, thereby securing – pace Feldman and Haybron – an authentic, sustainable conception of happiness. (shrink)

Through an exploration of the collapse of the Zimbabwean health delivery systems during the period 2000–2010, this article examines the Karanga people’s indigenous responses to utano. The first section explores the impact of Zimbabwe’s economic and sociopolitical development on people’s health and well-being. The next section foregrounds the ‘agency’ of the Karanga community in accessing and facilitating health care, especially their utilisation of multiple healthcare providers as well as providing health care through indigenous remedies such as traditional medicine (...) and faith-healing. In line with the Sustainable Development Goals, particularly SDG 3 which aspires to ensure healthy lives and promote well-being for all at all ages, the concluding section offers insights for developing an indigenous Karanga theology of utano utilising communal resources and illustrating that the concept of ‘development’ should not be confined to rigid Western development perspectives. (shrink)

The concept of Darwinian Happiness was coined to help people take advantage of knowledge on how evolution has shaped the brain; as processes within this organ are the main contributors to well-being. Fortuitously, the concept has implications that may prove beneficial for society: Compassionate behavior offers more in terms of Darwinian Happiness than malicious behavior; and the probability of obtaining sustainable development may be improved by pointing out that consumption beyond sustenance is not important for (...) class='Hi'>well-being. It is difficult to motivate people to act against their own best interests. Darwinian Happiness offers a concept that, to some extent, combines the interests of the individual with the interests of society. (shrink)

Nearly all large policy decisions influence not only the quality of life for existing individuals but also the number-and even identities-of yet-to-exist individuals. Accounting for these effects in a policy evaluation framework requires taking difficult stances on concepts such as the value of existence. These issues are at the heart of a literature that sits between welfare economics and philosophical population ethics. Despite the inherent challenges of these questions, this literature has produced theoretical insights and subsequent progress on variable-population (...) welfare criteria. A surprisingly bounded set of coherent alternatives exists for practitioners once a set of uncontroversial axioms is adopted from the better-studied welfare criteria for cases where populations are assumed to be fixed. Although consensus has not yet been reached among these remaining alternatives, their recommendations often agree. The space has been sufficiently restricted and well explored that applications of the theoretical insights are possible and underway in earnest. (shrink)

Multiple selves is a conventional assumption in behavioural welfare economics for modelling intrapersonal well-being. Yet an important question is which self has normative authority over others. In this paper, we advance an argument for what we call the ‘ontological approach’ to personal identity in behavioural welfare economics. According to this approach, ethical questions – such as which preference should be granted normative authority over another – can be informed by the ontological criterion of personal persistence, which (...) aims at determining what it takes for an individual to persist from one time to another. (shrink)

The ageing population has become one of the major issues, with manifold consequences upon the economic welfare and elderly living standards satisfaction. This paper grasps an in-depth assessment framework of the ageing phenomenon in connection with the labor market, with significant implications upon economic welfare, across the European Union. We configure our research on four distinctive groups of the EU–27 countries based on the Active Ageing Index mapping, during 1995–2018, by acknowledging the different intensities of ageing implications on (...) economic well-being from one group of countries to another. The methodological endeavor is based on Structural Equation Modelling. Empirical results highlight that the ageing dimensions and labor market productivity notably shape the socioeconomic development of EU countries, visibly distinguished across the four panels. The economic development induced remarkable positive spillover effects on the welfare of older people, under the influence of the ageing credentials and dynamic shaping factors. Our research advances the literature underpinnings on this multifaceted topic by investigation made on specific groups of the EU countries and distinctive strategies proposed for each group of countries, as effective results for improving the well-being of older people. Constant policy rethinking and adequate strategies should be a top priority for each specific group of EU countries, to further sustain the ageing phenomenon, with positive implications mostly on elderly welfare. (shrink)

abstract One sometimes finds leading economic thinkers expounding the metaphysical thesis that the ultimate ethical value of an object reflects nothing about the properties of the object in itself and instead reflects the subjective tastes of the valuer. Could anything in economics qua economics provide a warrant for such ethical subjectivism? And what might tempt economists to speak on such broadly meta‐ethical issues? In this paper we argue that a partial explanation for the subjectivist cast‐of‐mind of much economic theory is (...) to be found in the recent history of price formation theory. (We focus in particular on the so‐called ‘Marginalist’ and ‘Ordinalist’ Revolutions in price theory.) We argue that although such price formation theory provides no warrant for drawing ethical subjectivist conclusions, it does provide an explanation as to why such conclusions might be drawn. Thus we explore how the particular history of the development of what is called ‘value theory’ might well lead one (albeit unwarrantedly) towards ethical subjectivism. (shrink)

Given the endowment effect, the role of attention in decision-making, and the framing effect, most behavioral economists agree that it would be a mistake to accept the satisfaction of revealed preferences as the normative criterion of choice. Some have suggested that what makes agents better off is not the satisfaction of revealed preferences, but ‘true’ preferences, which may not always be observed through choice. While such preferences may appear to be an improvement over revealed preferences, some philosophers of economics have (...) argued that they face insurmountable epistemological, normative, and methodological challenges. This article introduces a new kind of true preference – values-based preferences – that blunts these challenges. Agents express values-based preferences when they choose in a manner that is compatible with a consumption plan grounded in a value commitment that is normative, affective, and stable for the agent who has one. Agents who choose according to their plans are resolute choosers. My claim is that while values-based preferences do not apply to every choice situation, this kind of preference provides a rigorous way for thinking about classic choice situations that have long interested behavioral economists and philosophers of economics, such as ‘Joe-in-the-cafeteria.’. (shrink)

We have noted some fundamental distinctions between types of goodness or value. There is usefulness, or merely instrumental goodness, the value that something may have as a means to something else that is good or that is valued. Usefulness has an obvious importance, and connects with significant philosophical issues about instrumentality and probability; but more fundamental issues for ethical theory are posed by the goods or ends that the useful is to serve. Within the realm of what is good for (...) its own sake, and not just instrumentally good, most contemporary ethical thought focuses mainly on well-being or welfare-that is, on the nature of human flourishing or what is good for a person. The theory developed here, however, gives a primary place to excellence-the type of goodness exemplified by the beauty of a sunset, a painting, or a mathematical proof, or by the greatness of a novel, the nobility of an unselfish deed, or the quality of an athletic or a philosophical performance. It is the goodness of that which is worthy of love or admiration, honor or worship, rather than the good (for herself) that is possessed by one who is fortunate or happy, as such (though happiness may also be excellent, and worthy of admiration). (shrink)

Mainstream neoclassical economics, as well as heterodox schools, should be regarded as different kinds of 'political economics'. There is no value-free economics. We therefore need to bring democracy into economics. The present challenge of sustainable development suggests that a new conceptual framework in economics is needed. In this essay, a political and democratic view of individuals, organisations, decision-making, markets, assessment of investment projects and policy options is proposed. The imperative of democracy also implies that the close-to-monopoly position of (...) neoclassical theory and method at university departments of economics has to be replaced by pluralism. There is a continued role for neoclassical theory and method, considering the fact that millions of professionals globally have been indoctrinated in this particular way of understanding efficiency and governance, but the idea that neoclassical theory is best for all purposes has to be abandoned. (shrink)