Online research in philosophy

The morality of an economic system characterized as an Adam Smith type system is compared with one characterized by central planning. A prima facie case is made that, while the latter has attributes that satisfy a necessary condition for having moral attributes, the former does not and, as a result, has no moral attributes. But then a deeper look at the situation reveals that the directed systems really do not satisfy the necessary condition either. Both the directed and (...) undirected systems end up in the same boat. Neither have any moral attributes. (shrink)

This paper deals with the way metaphors carried over from physical or biological systems condition the analysis of economic systems. The metaphors drawn from Newtonian mechanics, or from conservative fields of force, by neoclassical economists are discussed. Alternative metaphors which involve non-homeostasis and time irreversible processes are then outlined. Particular attention is paid to thermodynamics, evolutionary biology, and non-conservative or hysteretic force fields as sources of such metaphors. It is argued that these metaphors provide illumination to aspects (...) of economic systems which are not consistent with the homeostatic, time reversible metaphors conventionally employed in economics. (shrink)

We propose an axiomatic approach to constructing the dynamics of systems, in which one the main elements 9e8 is the consciousness of a subject. The main axiom is the statements that the state of consciousness is completely determined by the results of measurements performed on it. In case of economic systems we propose to consider an offer of transaction as a fundamental measurement. Transactions with delayed choice, discussed in this paper, represent a logical generalization of incomplete transactions (...) and allow for a more rigorous approach to studying the properties of the algebra of economic measurements. Considering the behavior of an object as a sequence of actions and choices allows extending the obtained results to random systems, which include the subject's consciousness as one of its elements. The specifics, on which the description of fundamental measurements is based, allows easily transferring the formalism of Schwinger's theory of selective measurements (and the consequent quantum-mechanical formalism) to the economic and social systems. (shrink)

Ecologic-economic systems tend to exhibit greater complexity than systems that are purely ecological or economic. The interactions between the two types often generates nonlinear relations that lead to various kinds of complex dynamics that complicate management and decisionmaking regarding them. Of these, forests have characteristics that lead them to have special problems not usually encountered in the management of such systems. A central one is the long time periods involved managing forests compared to most other (...) such systems. This means that the issues regarding determination of discount rates for valuing future outcomes are more important for forestry management than for many other systems. Also, forests generate a wider range of externalities than do most other ecologic-economic systems, with implications for various hierarchical levels of management. This paper considers the array of these problems as they appear for a variety of forestry management issues. (shrink)

The metrology literature neglects a strong empirical measurement tradition in economics, which is different from the traditions as accounted for by the formalist representational theory of measurement. This empirical tradition comes closest to Mari's characterization of measurement in which he describes measurement results as informationally adequate to given goals. In economics, one has to deal with soft systems, which induces problems of invariance and of self-awareness. It will be shown that in the empirical economic measurement tradition both problems (...) have been on the agenda for a long while, and that the proposed solutions to these problems provide clues for the directions in which one could develop a measurement theory that takes account of soft systems. (shrink)

The necessity to provide for a stable regional development as one of the main priorities of regional social and economic policies in the unstable world economics is justified. A wide classification of stability types in region development is considered and factors influencing the institutional stability are singled out.

This book is a fundamental and unique masterpiece which reflects the discussions on business and economic ethics over decades in German-speaking countries, and ...

Neoclassical economic theory assurnes that people pursue utility maximization within an obiective framework, evident to all, that serves as the basis for the interaction. Agents are assumed to be detached observers who see the situation as it is in obiective reality. It is argued in this article that there is no obiective ground for interaction that exists apart from the understanding of economic agents. Agents have orientations that change over time depending on the way that the situation is (...) currently understood. Depth of understanding and the extent of common ground depend on the quality of attention and the will to openness and honesty. Efforts to maintain connections with others make possible mutual understanding and visions of the common good that enable the coordinated pursuit of desired states of the world. (shrink)

This paper leads to apply some recent developments in the economic literature dealing with the concept of innovation systems to the problem of economic cohesion in Europe. Starting from a definition of innovation systems, it allows to consider firms and sets of intstitutions as two main but different types of innovation systems. This distinction is the source of a discussion about the nature of the coordination problems which appear when considering the European diversity of innovation (...) systems. The different combinations between innovation systems developed in the paper are a useful means of discussing European policy intervention and its ability to favour (or not) economic cohesion. (shrink)

This study focused on the indirect influences of defective higher education, especially management education, on the corruption of Japanese business communities since 1997. Most arrested or penalized Japanese executives and bureaucrats since 1997 were the alumni of prestigious Japanese universities. Their levels of academic achievements are, consequently, conceived to be the highest of Japanese standards. They were, however, found guilty. Why did these highly intelligent Japanese adults make such fatal mistakes? In this article, the author argued that the event of (...) the continuous exposure of scandals and corruptions in Japan since 1997 was an unintended consequence of Japan's educational systems through Habermasian and Foucaultian positions. (shrink)

“A Public Domain, once a velvet carpet of rich buffalo-grass and grama, now an illimitable waste of rattlesnake-bush and tumbleweed, too impoverished to be accepted as a gift by the states within which it lies. Why? Because the ecology of the Southwest happened to be set on a hair trigger.”.

“A Public Domain, once a velvet carpet of rich buffalo-grass and grama, now an illimitable waste of rattlesnake-bush and tumbleweed, too impoverished to be accepted as a gift by the states within which it lies. Why? Because the ecology of the Southwest happened to be set on a hair trigger.”.

Economic logic impinges on contemporary political theory through both economic reductionism and economic methodology applied to political decision-making (through game theory). The authors argue that the sort of models used are based on mechanistic and linear methodologies that have now been found wanting in physics. They further argue that complexity based self-organization methods are better suited to model the complexities of economy and polity and their interactions with the overall social system.

Here, for the first time, development studies encounters the set of ideas popularly known as 'Chaos Theory'. Samir Rihani applies to the processes of economic development, ideas from complex adaptive systems like uncertainty, complexity, and unpredictability. Rihani examines various aspects of the development process - including the World Bank, debt, and the struggle against poverty - and demonstrates the limitations of fundamentally linear thinking in an essentially non-linear world.

Introduction to complexity and complex systems -- Introduction to large linear systems -- Introduction to biochemical oscillators and nonlinear biochemical systems -- Modularity, redundancy, degeneracy, pleiotropy and robustness in complex biological systems -- The evolution of biological complexity; invertebrate immune systems -- Irreducible and specified complexity in living systems -- The complex adaptive and innate human immune systems -- Complexity in quasispecies : microRNAs -- Introduction to complexity in economic systems -- (...) Complexity in quasispecies : micrornas -- Dealing with complexity. (shrink)

This study examines the system-deciding principle of economic rationality for its logical soundness and effects in global practice. Analysis demonstrates the fallacious structure of the underlying assumptions of homo economicus across theories and institutions, and explains how cumulative destruction of global economic, social, and ecological life systems follows from its life-blind mechanism. Higher-order concepts of life-capital, life-value efficiency, and life-good supply and demand are then defined to bring economic rationality into coherence with terrestrial and human life (...) requirements. (shrink)

(2013). The systemic failure of economic methodologists. Journal of Economic Methodology: Vol. 20, Methodology, Systemic Risk, and the Economics Profession, pp. 56-68. doi: 10.1080/1350178X.2013.774848.

In 1991 this author published a book entitled, From Catastrophe to Chaos: A General Theory of Economic Discontinuities with Kluwer Academic Publishers. Due to the con troversial and unusual nature of this book’s content, there was considerable difficulty in getting publishers to agree to publish it prior to its being accepted by Kluwer. Initially conceived as a heterodox challenge to established economic thinking, this book became viewed by many readers as a reference volume on applications of nonlinear dynamics (...) in general to many fields of economics. Now, in 2000 Volume 1 of the second edition has appeared from Kluwer also, subtitled, Mathematics, Microeconomics, Macroeconomics, and Finance. It covers in expanded form the material contained in the first eight chapters of the first edition. What is this book about and how does the new edition differ from the first one? The underlying philosophy presented is that discontinuities are important objects of study in economics, indeed in many disciplines beyond economics as well. Although discontinuities may arise dynamically due to random exogenous shocks, the more truly interesting ones are those that arise endogenously from dynamical economic systems. In dynamical systems discontinuities can arise endogenously in the presence of nonlinearities in the systems. Thus, the more general topic of nonlinear dynamics in.. (shrink)

Various complex dynamics in ecologic-economic systems are presented with an emphasis upon models of global warming dynamics and fishery dynamics. Chaotic and catastrophic dynamic patterns are shown to be possible, along with other complex dynamics arising from nonlinearities in such combined systems. Problems associated with amplified oscillations due to these nonlinear interactions in the combined interactions of human economic decisionmaking with ecological dynamics are identified and discussed. Implications for policy are examined with strong recommendations for greater (...) emphasis in particular upon the precautionary principle to avoid catastrophic collapses beyond critical thresholds and the scale-matching principle to ensure that efforts to manage complex nonlinear dynamics are directed at the appropriate levels of ecologiceconomic interaction. Key Words: complex dynamics, chaos, catastrophe, fisheries, global warming.. (shrink)

The particular use made of the terms ?open and closed systems? by proponents of critical realism has generated some critical commentary in recent years. In this paper it is shown how debates about open and closed systems provide a perspective from which to address certain fundamental questions in economic methodology. It is argued that the meaning and significance that advocates of critical realism attach to these terms can be clarified by understanding the context within which they were (...) developed. The paper shows how the limitations associated with dominant perspectives both in the philosophy of science and within economics could more effectively be revealed once the terms ?open and closed systems? had been elaborated upon. A partial comparison with the work of Nancy Cartwright is developed. (shrink)

Our economic system, the market economy, is a part of a broader system or society. We frequently study the operation of the market economy as if it were autonomous, even though there are many complex and mutual relationships between society, the economic system and the other systems – political, cultural, religious, legal, etc. – that form part of society. In a market economy we may identify several components: a frame or background in which the economic activity (...) takes place, a set of ideas and theories, the values shared by this society, the set of institutions, norms and rules that control the economic behavior of people, and the incentives or motivations of the economic agents. The play of these elements defines the operation of a market economy. Is ethics an institution, or does it belong to the set of values and ideas? In this paper I will discuss the role of institutions, norms and rules in society, with special reference to the economic system, in order to gain insight into the relationship between institutions and ethics. I study first the concept and features of social institutions and norms; second, institutional change, and third, the relationship between ethics and institutions. (shrink)

This paper examines two recent approaches to the nature and functioning of economic models: models as isolating representations and models as credible constructions. The isolationist view conceives of economic models as surrogate systems that isolate some of the causal mechanisms or tendencies of their respective target systems, while the constructionist approach treats them rather like pure constructions or fictional entities that nevertheless license different kinds of inferences. I will argue that whereas the isolationist view is still (...) tied to the representationalist understanding of models that takes the model-target dyad as the basic unit of analysis, the constructionist perspective can better accommodate the way we actually acquire knowledge through them. Using the example of Tobin’s ultra-Keynesian model I will show how many of the epistemic characteristics of modelling tend to go unrecognised if too much focus is placed on the model-target dyad. (shrink)

Argues for a category of “cognitive feelings”, which are representationally significant, but are not part of the content of the states they accompany. The feeling of pastness in episodic memory, of familiarity (missing in Capgras syndrome), and of motivation (that accompanies desire) are examples. The feeling of presence that accompanies normal visual states is due to such a cognitive feeling; the “two visual systems” are partially responsible for this feeling.

In this reply to James H. Fetzer’s “Minds and Machines: Limits to Simulations of Thought and Action”, I argue that computationalism should not be the view that (human) cognition is computation, but that it should be the view that cognition (simpliciter) is computable. It follows that computationalism can be true even if (human) cognition is not the result of computations in the brain. I also argue that, if semiotic systems are systems that interpret signs, then both humans and (...) computers are semiotic systems. Finally, I suggest that minds can be considered as virtual machines implemented in certain semiotic systems, primarily the brain, but also AI computers. In doing so, I take issue with Fetzer’s arguments to the contrary. (shrink)

Financial crises have become an all-too-common occurrence over the past twenty years, largely as a result of changes in finance brought about by increasing internationalization and integration. As domestic financial systems and economies become more interlinked, weaknesses can significantly impact not only individual economies but also markets, financial intermediaries and economies around the world. This volume addresses the twin objectives of financial development in the context of financial stability and the role of law in supporting both. Financial stability (frequently (...) seen as the avoidance of financial crisis) has become an objective of the international financial architecture as well as individual economies and central banks. At the same time, financial development is now seen to play an important role in economic growth. In both financial stability and financial development, law and related institutions have a central role. (shrink)

The globalization movement in recent decades has meant rapid growth in trade, financial transactions, and cross-country ownership of economic assets. In this article, we examine how the globalization of national business systems has influenced the framing of corporate social responsibility (CSR). This is done using text analysis of CEO letters appearing in the annual reports of 15 major corporations in Sweden during a period of transformational change. The results show that the discourse about CSR in the annual reports (...) has changed from a national and communitarian view of social responsibility (cf. a negotiated view of CSR) toward an international and individualistic view of social responsibility (cf. a self-regulating view of CSR). The article contributes theoretically (1) by adding a national–global dimension to previous conceptualizations of CSR and (2) by showing that the rise of CSR discourse and activities in the last 10 years does not have to imply an increased commitment and interest in corporate responsibility per se, only that there are increased societal expectations that corporations should develop the capability to act more independently as moral agents. (shrink)

The rapid development of complex income taxation and welfare systems in the 20th century may give the impression that progressive wealth redistribution systems are uniquely modern. However, religious systems provided similar mechanisms for addressing economic injustice and poverty alleviation centuries earlier. Zakat is the obligation of almsgiving and is the third pillar of Islam--a requirement for all believers. In the early development of the Islamic community, zakat was collected as a tax by the state and (...) the funds were distributed to a defined set of needy groups. As a theoretical matter, there are three insights that make zakat an especially relevant subject for modern legal scholars. First, zakat is an example of a modest wealth tax combined with an income tax that may be illustrative in the discourse regarding wealth taxes. Second, the jurisprudence of zakat supports the ethical conclusions of scholars who contend that property rights are attached to post rather than pre-tax income. Third, to the extent that zakat is considered a principal source of revenue for public programs, it might imply a limited role for government, focusing on equitable distribution of goods. This paper begins with a thorough evaluation and synthesis of the traditional Islamic jurisprudence related to zakat. The next section identifies three broad approaches to zakat adopted by modern Muslim states, with particular emphasis on ways that zakat is institutionalized legally. This is followed by an empirical analysis of the correlation of the approaches to zakat with (1) individual income and (2) wealth stratification. The article concludes with observations and policy recommendations related to zakat and broader legal theory based on the earlier qualitative analysis and empirical findings. (shrink)

Systems Theory is best understood in its dual nature as an episode in the generic development of human understanding of the world, and as the specific product of its social history. On the one hand it is a "moment" in the investigation of complex systems, the place between the formulation of a problem and the interpretation of its solution where mathematical modeling can make the obscure obvious. On the other hand it is the attempt of a reductionist scientific (...) tradition to come to terms with complexity, non-linearity and change through sophisticated mathematical and computational techniques, a groping toward a more dialectical understanding that is held back both by its philosophical biases and by the institutional and economic contexts of its development. (shrink)

Compensation systems are an integral part of the relationships organizations establish with their employees. For many years, researchers viewed pay systems as an efficient way to bring market-like labour exchanges inside organizations. This view suggested that only economic considerations matter for understanding how compensation systems effect organizations and their employees. Advances in organizational research, particularly those focused on issues of justice and fairness, suggest that the fully understanding the outcomes of compensation systems requires examining their (...) psychological, social, and moral effects. (shrink)

In the future systems of ambient intelligence will include decision support systems that will automate the process of discrimination among people that seek entry into environments and to engage in search of the opportunities that are available there. This article argues that these systems must be subject to active and continuous assessment and regulation because of the ways in which they are likely to contribute to economic and social inequality. This regulatory constraint must involve limitations on (...) the collection and use of information about individuals and groups. The article explores a variety of rationales or justifications for establishing these limits. It emphasizes the unintended consequences that flow from the use of these systems as the most compelling rationale. (shrink)

Past research has focused on individual culpability with the assumption that individuals will further their own self interest over that of the organization, given an appropriate opportunity. In contrast, this research shifts the focus from individual motivation to the influence of the formal and informal control systems of organizations on ethical behaviours. An open-ended interview approach was used to collect data. It was found that pressures within the informal system were the dominant influence in the resolution of ethical issues. (...) The dominance of the informal system, however, varies according to the economic position of the organization. (shrink)

Over the last several decades the view that economic reality is somehow fundamentally complex has increasingly taken hold among economists, not only those focused on abstract theory but even policymakers as well (Greenspan, 2004). Consequently such economists have been forced to wrestle with the problem not only of how to forecast, which has always been difficult, but even how to understand the apparently most simple economic phenomena in principle as well. More to the point, even how to think (...) about how to understand such phenomena has become a serious challenge. In short, economists increasingly must grapple with fundamental problems of epistemology, how to know what they know in a complex economic reality. This paper will consider three foundational aspects of this problem. The first involves to what extent the source of the problem is endogenous to nonlinear dynamics. The second involves to what extent it is logical and computational. The third will consider whether or not the epistemological problem is really an ontological problem. The problem of nonlinear dynamics and epistemology is most clearly seen in relation to chaotic dynamics, particularly the problem of sensitive dependence on initial conditions, also known popularly as the “butterfly effect.” If minute changes in initial conditions, either of parameter values controlling a system or of initial starting values, can lead to very large changes in ultimate outcomes of a system, then it may essentially require an infinite exactness of knowledge to completely understand the system. Likewise such problems as fractality of basin boundaries in systems with multiple basins.. (shrink)

The analysis of the impact of economic globalisation on health depends on how it is defined and should consider how it shapes both health and health policies. I first discuss the ways in which economic globalisation can and has been defined and then why it is important to analyse its impact both in terms of health and health policies. I then explore the ways in which economic globalisation influences health and health policies and how this relates to (...) equity, social justice, and the role of values and social rights in societies. Finally, I argue that the process of economic globalisation provides a common challenge for all health systems across the globe and requires a broader debate on values, accountability, and policy approaches. (shrink)

This paper considers the implications of complex ecologic-economic dynamics for three broad, Post Keynesian perspectives: the uncertainty perspective, the macrodynamics perspective, and the Sraffian perspective. Catastrophic, chaotic, and other complex dynamics will be seen as reinforcing the conceptual foundations of Keynesian uncertainty. Predatory-prey models will be seen as deeply linked to Post Keynesian macrodynamic models. Finally, certain cases in ecologiceconomic systems will be seen as generating such Sraffian, capital theoretic conundra as reswitching. Ecologic-economic models considered besides predator-prey (...) will include fisheries, forestry, lake dynamics, and global climatic-economic dynamics. (shrink)

This paper examines how institutions for managing environmental resources change over time with economic development and the seriousness of various environmental problems. Different problems tend to be more serious at different levels of development requiring different approaches. Traditional systems of management in poorer countries were often effective at managing common good resources, and institutions that replicate their advantages may work at higher levels of economic development as well. Problems of inter-level relations are also be considered.

In the US a dismal truth exists about the citizenry’s lack of understanding of economic fundamentals whether it is amongst our political leaders or our university graduates. This then leads one to ask, “What can be done to help people become literate in economics?” Perhaps the answer lies in the [...].

Problematic is probably the best way to describe journalism ethics in societies experiencing deep and rapid institutional change. Although it might be desirable to inculcate ethics in the early stages of press transition, reality suggests fundamental needs, including necessary materials and economic viability, come first. Using Romania as a case study, we interviewed news officials about ethical behavior as well as related issues. Clearly, concern with mere survival supersedes concern over ethics. If, as proposed here, press changes proceed in (...) stages along the lines of a hierarchical order of needs, then we should be careful comparing ethical behavior across differing press systems and imposing our own standards. (shrink)

For several decades, business has operated according to the tenets of neoclassical economic theory, where the primary obligation of corporations is to maximize profit for shareholders. However, the larger social mandate for business has changed, represented by the rise of language such as "sustainable development", "corporate social responsibility" (CSR) and "stakeholder groups." Nevertheless, the theoretical shift implied by the use of such language has not occurred. Issues of sustainable development and CSR continue to be justified in the terms of (...) neoclassical economic theory through the rationalization of "doing well by doing good".Within this economic paradigm, CSR cannot move beyond enlightened self-interest (acting in socially responsible ways in order to further one''s own ends) because all behavior must be justified economically. This implies that corporate socially responsible behavior will simply cease when it becomes uneconomic, regardless of the impact on interrelated systems which in turn will re-impact the business realm. (shrink)

Context: This paper is intended for readers familiar with Humberto Maturana’s theory of autopoietic systems and with the still unresolved debate concerning the existence of non-biological autopoietic systems. Because the seminal work of the Chilean biologist has not yet been fully and correctly understood in other disciplines, I consider that it is necessary to offer a more generalized concept of the autopoietic system, derived by implication from Maturana’s grounding definition. Problem: The above-mentioned debate is rooted in a deficient (...) application of some rigorous distinctions, definitions, and epistemological considerations introduced by Maturana when he coined the term “autopoiesis.” Some researchers think that social or economic organizations could be considered as autopoietic systems of a higher order because they appear to behave autonomously and be self-organized and self-producing. However, in practice some precise distinctions would need to be verified through observation in order to claim properly their autopoietic nature. These distinctions were defined by Varela, Maturana and Uribe in 1974 as a set of six decisional rules (“MV&U rules”) whereby an observer may possibly justify this stand. My aim is to pinpoint clearly the basic cognitive tasks that an observer should perform in order to ascertain such a claim. Method: I accomplish this with a thorough analysis of the entailments derived from each rule when applied to the most general case – when the observational domain where the system manifests itself is not specified. A bottom-up approach is used to avoid referring to “apparent autopoietic behavior” as a starting point distinction (top-down approach): the aim is to distinguish “autopoietic behavior” as an outcome of more basic distinctions, not as a premise for these. These may be used as abstract tools to facilitate a rigorous description of observations and lead to precise explanations of the emergence of complex self-generated dynamic systems. In theory, this conceptual frame is not limited to the macro-molecular domain and may therefore be applicable to non-biological systems. Results: According to MV&U rules, the most important distinctions are those that refer to intra-boundary phenomenology: this focus is necessary to explain how the key processes involved in the emergence of autopoiesis actually manifest themselves. These explanations are crucial to validating a claim about the “autopoietic nature” of an observed system. Implications: This work could help multidisciplinary researchers to apply properly the theory of autopoietic systems beyond the realm of biology and to settle ongoing debates. It could also help investigations related to the specifications of software simulation processes for modeling a minimal artificial autopoietic system. However, the rigorous focus on the role of intra-boundary phenomenology and self-production of components reveals that our chances of detecting “natural” meta-molecular autopoietic systems are scarce. (shrink)

Continued concern for animal welfare may be alleviated when welfare would be monitored on farms. Monitoring can be characterized as an information system where various stakeholders periodically exchange relevant information. Stakeholders include producers, consumers, retailers, the government, scientists, and others. Valuating animal welfare in the animal-product market chain is regarded as a key challenge to further improve the welfare of farm animals and information on the welfare of animals must, therefore, be assessed objectively, for instance, through monitoring. Interviews with Dutch (...) stakeholder representatives were conducted to identify their perceptions about the monitoring of animal welfare. Stakeholder perceptions were characterized in relation to the specific perspectives of each stakeholder. While producers tend to perceive welfare from a production point of view, consumers will use visual images derived from traditional farming and from the animals natural environments. Scientists perceptions of animal welfare are affected by the need to measure welfare with quantifiable parameters. Retailers and governments (policy makers) have views of welfare that are derived from their relationships with producers, consumers, non-governmental organizations (NGOs), and scientists. All interviewed stakeholder representatives stated that animal welfare is important. They varied in the extent to which they weighted economic considerations relative to concern for the animals welfare. Many stakeholders emphasized the importance of communication in making a monitoring system work. Overall, the perspectives for the development of a sustainable monitoring system that substantially improves farm animal welfare were assessed as being poor in the short term. However, a reliable system could be initiated under certain conditions, such as integrated chains and with influential and motivated stakeholders. A scheme is described with attention points for the development of sustainable monitoring systems for farm animal welfare in the long term. (shrink)

This study examined differences in the values patterns of business students from Anglo-American and Far Eastern country clusters using Allport et al.'s (1970) Study of Values. Differences were noted on five of the six attitudes; Theoretical, Economic, Political, Social, and Religious. Next, using multiple comparison method the value patterns of newly arrived Far Eastern students and Far Eastern students who had spent considerable time in the U.S. were compared for changes in value patterns that may be attributable to their (...) stay and study in the United States. Differences were found in terms of five of the six evaluative attitudes between the two groups. Value pattern of Far Eastern students who had lived and studied in the U.S. for a considerable period of time was also compared with that of Anglo-American students to examine the degree of convergence in their value systems. Findings of this study suggest that as a result of frequent and sustained cross-cultural contacts in another cultural environment, the value profile of individuals tend to get modified, so as to include the values preferred and desired in the new social environment. (shrink)

The longstanding interest in business ethics has been given renewed emphasis by high profile scandals in the world of business and finance. At the same time, many economists--dissatisfied with the discipline's emphasis on self-interest and individualism and by the asocial nature of much economic theory--have sought to englarge the scope of economics by looking at ethical questions. In Ethics and Economic Affairs a group of interdisciplinary scholars provide contributions on international interest in this aspect of socio-economics and (...) class='Hi'>economic-psychology. The book is divided into four parts. The first looks at Business Ethics and Management. Part Two enlivens the debate with empirical data. The third part examines the implications for economic theory and asks if the integration of ethics in the economy is possible or if they are fundamentally different systems. Part Four introduces perspectives from other disciplines, sets economics within its wider context and looks to the future. The editors have brought together a group of contributors from nine different countries and a broad range of disciplines, including: Norman E. Bowie, Monroe Burk, Amitai Etzioni, Richard H. Guerette, Ralph E. Miner, Lynne M. Rosansky, N. Craig Smith, Roberts Stallaerts, Philip Stone and John Tomer. (shrink)

Complex systems can be characterized by classes of equivalency of their elements defined according to system specific rules. We propose a generalized preferential attachment model to describe the class size distribution. The model postulates preferential growth of the existing classes and the steady influx of new classes. According to the model, the distribution changes from a pure exponential form for zero influx of new classes to a power law with an exponential cut-off form when the influx of new classes (...) is substantial. Predictions of the model are tested through the analysis of a unique industrial database, which covers both elementary units (products) and classes (markets, firms) in a given industry (pharmaceuticals), covering the entire size distribution. The model's predictions are in good agreement with the data. The paper sheds light on the emergence of the exponent tau approximately 2 observed as a universal feature of many biological, social and economic problems. (shrink)

The objective of this paper is to analyse, from a philosophical perspective, the 16th and 17th Century models of currency, as well as their influence on the types of society in which the models developed. For this, the author values the study by the French philosopher Michael Foucault Words and Things on this matter and the principal foundations of Ludwig von Bertalanffy´s systems theory. The 17th Century model of currency is based on the notion of a system of exchange. (...) The notion of a system of exchange represents a transformation of great significance, upon which the principal characteristics of our current globalised era are founded, not only in economic life, but also in relation to an understanding of the world that it implies. Furthermore, the notion of a system of exchange was the step before the current model of electronic payments of the digital era, in which large transactions (and also large data transfers) take place by pressing a button. The principal idea of the paper is that these economic practices hold the key to deepen a philosophical and historical comprehension of concepts such as globalisation. (shrink)

The paper questions some of the premises in studying academic spin-offs in developed countries, claiming that when taken as characteristics of ‘academic spin-offs per se,’ they are of little help in understanding the phenomenon in the Eastern European countries during the transitional and post-transitional periods after 1989. It argues for the necessity of adopting a path-dependent approach, which takes into consideration the institutional and organisational specificities of local economies and research systems and their evolution, which strongly influence the patterns (...) of spin-off activity. The paper provides new findings and original arguments in support of Balazs’ seminal theses (Balazs 1995, 1996) about the emergence of academic spin-offs during the early transition. It reveals key economic and policy mechanisms bearing on academic entrepreneurship in Eastern Europe, such as the tensions between economic and political nomenclatures of former Communist Parties, where the dismantling or preservation of the power of political nomenclature resulted in different patterns of development—rapid reforms in the ‘first wave’ of EU accession countries or the establishment of rent-seeking and assets-stripping economies in countries like Bulgaria and Romania, making the transition period especially difficult. In the latter, a specific economic environment emerged, unknown in Western Europe and in the ‘champions’ of transition—such as suppression of the authentic entrepreneurship in a number of economic sectors, disintegration of corporate structures, etc. Thus, the paper reveals the common ground behind the two conflicting tendencies in post-socialist academic spin-offs, partially outlined in other research (Simeonova 1995; Pavlova 2000): as an authentic form of academic entrepreneurship grasping the opportunities opened up by the economic crisis and compensating failures in science and technology policy on the one hand, and as specific rent-seeking strategy draining valuable public assets on the other (the latter, in turn, boosting the negative attitudes in local scientific communities). The paper provides new findings about the evolution of the academic spin-offs in Bulgaria along the two polar trends and their positive and negative repercussions on parent research institutions. The results were achieved in the PROKNOW Project, EC 6th Framework Program. (shrink)

Factory floors throughout the global economy are rapidly transforming themselves into potentially fertile laboratories for research in the cognitive sciences. The information revolution has challenged our understanding of perception and cognition. Innovations in information technologies have also provided us with new methods and environments for the study of cognition. On the business and economic front, information technology is supporting the development of new corporate information systems-Enterprise Systems-that will revolutionize the decision-making, reporting and reward environments in corporations. These (...) systems are pervasive and transforming. At all levels, employees will be presented with potentially unlimited amounts of accurate, real-time information and will be expected to use that information effectively. The possibilities for research, especially for modeling the learning and decision-making processes, are unparalleled. Research conducted in these environments offers extraordinary opportunities to address research questions formerly requiring limited synthetic environmental situations. Data collected in firms as they deploy enterprise information systems can be more extensive and accurate and more easily quantified than data from traditional synthetic experiments. Research programs in these settings can also address more complex problems of human interaction and collaborativity. This article describes the aspects of enterprise systems that will be of greates interest to cognitive scientists. It also outlines the nature of potential collaboration between economists and cognitive scientists and offers a list of outstanding questions for systems design and development. (shrink)

This essay is concerned with the special difficulties that arise in testing and appraising mainstream economic theory. I argue that, like other theories designed to apply to complex open systems, it is very hard to confirm mainsteam economics. Parts can be tested and appraised, but the theory is only very weakly supported by evidence.

In this paper, we argue that calls for widespread implementation of ethics measurement systems would be better informed by institutional economic analysis. Specifically, we assert that proponents of such systems must first recognize and understand the institutions that potentially impede such efforts. We identify two potential institutional impediments to measuring ethics and social responsibility. First, we suggest that neoclassical economics, supported by traditional business education and legal precedent, serves to reinforce the notion that shareholders are the primary (...) corporate constituency group. Such an emphasis on the needs of shareholders severely hinders implementation of measurement systems that address the needs of multiple stakeholder groups. Second, we argue that the threat of litigation may constrain corporate managers from measuring and considering ethics and corporate social responsibility matters. In particular, managers may be reluctant to quantify various ethical concerns if the resulting measurements could be used as evidence against the corporation in a lawsuit. (shrink)

This paper develops an account of evolutionary progress for use in the field of evolutionary economics. Previous work is surveyed and a new account set out, based on the idea of evolvability as it has been used recently in evolutionary developmental biology. The biological underpinnings of this idea are explained using examples of a series of phenomena that influence the evolvability of biological systems. It is further argued that selection pressures and developmental processes are sufficiently similar to make this (...) biological concept useful in economics. The new account is defended against a number of common objections to the notion of progress in evolving systems, including the claim that all stipulated measures of evolutionary progress are essentially arbitrary. It is argued that progress, understood as an increase in evolvability over time, is both philosophically well-justified and provides useful predictive and explanatory resources to those seeking to understand and manipulate evolving economic systems. (shrink)

After experiments with various economic systems, we appear to have conceded, to misquote Winston Churchill that "free enterprise is the worst economic system, except all the others that have been tried." Affirming that conclusion, I shall argue that in today's expanding global economy, we need to revisit our mind-sets about corporate governance and leadership to fit what will be new kinds of free enterprise. The aim is to develop a values-based model for corporate governance in this age (...) of globalization that will be appropriate in a variety of challenging cultural and economic settings. I shall present an analysis of mental models from a social constructivist perspective. I shall then develop the notion of moral imagination as one way to revisit traditional mind-sets about values-based corporate governance and outline what I mean by systems thinking. I shall conclude with examples for modeling corporate governance in multi-cultural settings and draw tentative conclusions about globalization. (shrink)

Although molecular biology has meant different things at different times, the term is often associated with a tendency to view cellular causation as conforming to simple linear schemas in which macro-scale effects are specified by micro-scale structures. The early achievements of molecular biologists were important for the formation of such an outlook, one to which the discovery of recombinant DNA techniques, and a number of other findings, gave new life even after the complexity of genotype–phenotype
relations had become apparent. Against this (...) background we outline how a range of scientific developments and conceptual considerations can be regarded as enabling and perhaps necessitating contemporary systems approaches. We suggest that philosophical ideas have a valuable part to play in making sense of complex scientific and disciplinary issues. (shrink)

A study of shifts in scientific strategies for measuring the living body, especially in dynamic systems theory: (1) sheds light on Hegel's concept of measure in The Science of Logic, and the dialectical transition from categories of being to categories of essence; (2) shows how Hegel's speculative logic anticipates and analyzes key tensions in scientific attempts to measure and conceive the dynamic agency of the body. The study's analysis of the body as having an essentially dynamic identity (...) irreducible to measurement aims to contribute to reconceiving the body, in a way that may be helpful to overcoming dualism. (shrink)

Systems biology is a vigorous and expanding discipline, in many ways a successor to genomics and perhaps unprecendented in its combination of biology with a ...

The concepts and powerful mathematical tools of Dynamical Systems Theory (DST) yield illuminating methods of studying cognitive processes, and are even claimed by some to enable us to bridge the notorious explanatory gap separating mind and matter. This article includes an analysis of some of the conceptual and empirical progress Dynamical Systems Theory is claimed to accomodate. While sympathetic to the dynamicist program in principle, this article will attempt to formulate a series of problems the proponents of the (...) approach in question will need to face if they wish to prolong their optimism. The main points to be addressed involve the reductive tendencies inherent in Dynamical Systems Theory, its somewhat muddled position relative to connectionism, the metaphorical nature DST-C exhibits which hinders its explanatory potential, and DST-C's problematic account of causality. Brief discussions of the mathematical and philosophical backgrounds of DST, seminal experimental work and possible adaptations of the theory or alternative suggestions (dynamicist connectionism, neurophenomenology, R&D theory) are included. (shrink)

Several proponents of the interventionist theory of causation have recently argued for a neo-Russellian account of causation. The paper discusses two strategies for interventionists to be neo-Russellians. Firstly, I argue that the open systems argument – the main argument for a neo-Russellian account advocated by interventionists – fails. Secondly, I explore and discuss an alternative for interventionists who wish to be neo-Russellians: the statistical mechanical account. Although the latter account is an attractive alternative, it is argued that interventionists are (...) not able to adopt it straightforwardly. Hence, to be neo-Russellians remains a challenge to interventionists. (shrink)

Contemporary thought, whether it be in psychology, biology, immunology, philosophy of perception or philosophy of mind, is confronted with the breakdown of barriers between organism and environment, self and other, subject and object, perceiver and perceived. In this paper I show how Merleau-Ponty can help us think about this problem, by attending to a methodological theme in the background of his dialectical conception of embodiment. In La structure du comportement, Merleau-Ponty conceives life as extension folding back upon itself so as (...) to reveal Hegel’s ‘hidden mind of nature.’ In the Phénoménologie de la perception, radical reflection elucidates the body schema as an essence that reveals itself within embodied existence, qua shaping the natural perceptual dialogue in which the perceiver and the perceived permeate and separate from one another. In these two conceptions of embodiment, we progressively see how the dialectical principle of embodiment must reveal and conceive itself within embodiment itself. Science, on the other hand, follows the phenomena of the body to a certain point, but refuses to allow that embodiment is self-conceptual. I illustrate this using the example of dynamic systems theory, an inheritor of the tradition of J.J. Gibson’s ecological psychology. In this way, I show how Merleau-Ponty’s conception of the dialectic of embodiment as self-conceptual is important to problems in contemporary thought. (shrink)

Biologists and economists use models to study complex systems. This similarity between these disciplines has led to an interesting development: the borrowing of various components of model-based theorizing between the two domains. A major recent example of this strategy is economists’ utilization of the resources of evolutionary biology in order to construct models of economic systems. This general strategy has come to be called evolutionary economics and has been a source of much debate among economists. Although philosophers (...) have developed literatures on the nature of models and modeling, the unique issues surrounding this kind of interdisciplinary model building have yet to be independently investigated. In this paper, we utilize evolutionary economics as a case study in the investigation of more general issues concerning interdisciplinary modeling. We begin by critiquing the distinctions currently used within the evolutionary economics literature and propose an alternative carving of the conceptual terrain. We then argue that the three types of evolutionary economics we distinguish capture distinctions that will be important whenever resources of model-based theorizing are borrowed across distinct scientific domains. Our analysis of these model-building strategies identifies several of the unique methodological and philosophical issues that confront interdisciplinary modeling. (shrink)

I propose a semi-eliminative reduction of Fodors concept of module to the concept of attractor basin which is used in Cognitive Dynamic Systems Theory (DST). I show how attractor basins perform the same explanatory function as modules in several DST based research program. Attractor basins in some organic dynamic systems have even been able to perform cognitive functions which are equivalent to the If/Then/Else loop in the computer language LISP. I suggest directions for future research programs which could (...) find similar equivalencies between organic dynamic systems and other cognitive functions. This type of research could help us discover how (and/or if) it is possible to use Dynamic Systems Theory to more accurately model the cognitive functions that are now being modeled by subroutines in Symbolic AI computer models. If such a reduction of subroutines to basins of attraction is possible, it could free AI from the limitations that prompted Fodor to say that it was impossible to model certain higher level cognitive functions. (shrink)

Mechanistic models in molecular systems biology are generally mathematical models of the action of networks of biochemical reactions, involving metabolism, signal transduction, and/or gene expression. They can be either simulated numerically or analyzed analytically. Systems biology integrates quantitative molecular data acquisition with mathematical models to design new experiments, discriminate between alternative mechanisms and explain the molecular basis of cellular properties. At the heart of this approach are mechanistic models of molecular networks. We focus on the articulation and development (...) of mechanistic models, identifying five constraints which guide the articulation of models in molecular systems biology. These constraints are not independent of one another, with the result that modeling becomes an iterative process. We illustrate the use of these constraints in the modeling of the mechanism for bistability in the lac operon. (shrink)

It is usually the case that scientists examine either ecological systems or social systems, yet the need for an interdisciplinary approach to the problems of environmental management and sustainable development is becoming increasingly obvious. Developed under the auspices of the Beijer Institute in Stockholm, this new book analyses social and ecological linkages in selected ecosystems using an international and interdisciplinary case study approach. The chapters provide detailed information on a variety of management practices for dealing with environmental change. (...) Taken as a whole, the book will contribute to the greater understanding of essential social responses to changes in ecosystems, including the generation, accumulation and transmission of ecological knowledge, structure and dynamics of institutions, and the cultural values underlying these responses. A set of new (or rediscovered) principles for sustainable ecosystem management is also presented. Linking Social and Ecological Systems will be of value to natural and social scientists interested in sustainability. (shrink)

There has been considerable discussion lately of the concept of open systems, which has revealed that different participants are using the terms ?openness? and ?closure? in different ways. The purpose of this paper is to address issues of meaning that arise in this particular discourse, with a view to clarifying both conflicts in usage and the underlying issues involved. We explore the different meanings of openness and closure extant in the literature, as applied at the ontological and epistemological levels, (...) focusing on our own use of the terms in relation to that which prevails in neoclassical economics on the one hand and to the use made of them by Tony Lawson and other critical realists on the other. (shrink)

Stories form an integral part of models. An economic model can not be fully characterized simply by knowing its structure: the model can only be completely described when we know how it works and what it can do. This activity of manipulating a model requires a narrative device, such as a question, which sets off a story told with the model. The structure or system portrayed in the model constrains and shapes the stories that can be told, but without (...) stories showing how the structure works, we cannot tell what might happen in specific cases. Without these narrative elements, we cannot apply model-structures directly onto the facts of the economic world, nor demonstrate outcomes about the hypothetical world represented in the model. Thus, stories are not simply devices of persuasion, but constitute an important part of the identity of a model. (shrink)

In this paper we describe the nature and problems of business and define one aspect of the business environment. We then propose a framework based on augmented soft systems methodology and object technology that captures both the soft and hard aspects of a business environment within the context of organisational culture. We also briefly discuss cognitive informatics and its relevance to understanding problems and solutions. Pólya's work, which is based around solving mathematical problems, is considered within the context of (...) information systems development. We propose a generic reusable business object model based on general systems theory. We also show how these approaches can be integrated to provide a strategy for understanding business problems and developing integrated solutions. (shrink)

Increasingly in economics what had been considered to be unusual and unacceptable has come to be considered usual and acceptable, if not necessarily desirable. Whereas it had been widely believed that economic reality could be reasonably described by sets of pairs of linear supply and demand curves intersecting in single equilibrium points to which markets easily and automatically moved, now it is understood that many markets and situations do not behave so well. Economic reality is rife with nonlinearity, (...) discontinuity, and a variety of phenomena that are not so easily predicted or understood. At the same time the broad coherence of economic systems is more impressive than ever in the face of such phenomena. The order of the economy appears to emerge from the complex interactions that constitute the evolutionary process of the economy. These phenomena have come to be labeled as complexity in economics. Even what seems simple in economics generally arises from behavior not reflecting rational expectations; we live in a world that reflects the enormous variety and diversity of humanity in their knowledge, attitudes, and behaviors, interacting with each other in an enormous range of institutional frameworks. What emerges in the aggregate may have little to do with what happens at the individual level. But this aggregate cannot be simply described by some set of aggregate equations. It emerges out of the soup of the individual and particular with all its multiform interactions and peculiarities. (shrink)

This paper argues that a new economic system is emerging in the world economy, that of the new traditional economy. Such an economic system simultaneously seeks to have economic decision making embedded within a traditional socio-cultural framework, most frequently one associated with a traditional religion, while at the same time seeking to use modern technology and to be integrated into the modern world economy to some degree. The efforts to achieve such a system are reviewed in various (...) parts of the world, with greater analysis of the Islamic and neo- Confucian economic systems. (shrink)

Owing to intensive development of the theory of self-organization of complex systems called also synergetics, profound changes in our notions of time occur. Whereas at the beginning of the 20th century, natural sciences, by picking up the general spirit of Einstein's theory of relativity, consider a geometrization as an ideal, i.e. try to represent time and force interactions through space and the changes of its properties, nowadays, at the beginning of the 21st century, time turns to be in the (...) focus of attention. It turns to be possible to represent space through time, because synergetics shows that historical and evolutionary stages of development of a complex structure can be found now, in its present spatial configuration. A whole series of paradoxical notions, such as “the influence of the future upon the present”, a “possibility of touching of a rather remote future today”, “availability of the past and the future now, in praesenti”, “irreversibility and elements of reversibility in the course of evolutionary processes in time”, “discrete unites, quanta of time”, appear in synergetics. (shrink)

Terrence Deacon has described three orders of emergence; Arthur Peacocke and others have suggested four levels of human systems and sciences; and Philip Clayton has postulated an additional, transcendent, level. Orders and levels describe distinct aspects of emergence, with orders characterizing topological complexity and levels characterizing theoretical knowledge and causal power. By using Deacon's orders to analyze and relate each of the four "lower" levels one can project that analysis on the transcendent level to gain insight into the teleodynamic (...) emergence of transcendent-level systems. I argue that cross-cultural interactions among human cultural-level systems results in the emergence of the "universal" transcendental norms historically characterized as the Greek Good, Beauty, and Truth. These norms require a dynamic existence that I characterize as the emergence of Spirit, using Josiah Royce's community of interpretation, and that I suggest provides a pragmatic clarification of Clayton's transcendent level. An understanding of those emergent norms clarifies ethical systems, highlights the importance of aesthetics in understanding scientific systems, and suggests the necessity of community in fruitful science-and-religion dialogue on human systems. (shrink)

We examine the “new comparative economics” as proposed by Djankov et al. (2003) and their use of the concept of an institutional possibilities frontier. While we agree with their general argument that one must consider a variety of institutions and their respective social costs, including legal systems and cultural characteristics, when comparing the performance of different economic systems, we find various complications and difficulties with the framework they propose. We propose that a broader study of clusters of (...) institutions and such newly emerging forms as the new traditional economy may be better suited as ways to approach the study of comparative economics in the era after the breakdown of the old comparison of market capitalism and command socialism that came to an end with the breakup of the Soviet Union. (shrink)

Sustainable agriculture refers to farming systems with economic, social, and environmental viability that must respond to citizens’ interests and concerns. However, European citizens are not satisfied with the Common Agricultural Policy (CAP) due to misinterpretation of their preferences. Because of this, the European agricultural model’s long-term viability is being questioned, especially after the European Commission’s CAP proposals in 2011. This paper examines European agriculture’s potential sustainability with regard to citizens’ preferences. First, focus groups and the Analytic Hierarchy Process (...) are used to identify and quantify southern Spanish citizens’ preferences for farming. Second, socio-demographic features and opinions that determine preferences towards agriculture are studied by a multinomial logit model and a cluster analysis. A comparison is made between citizens’ preferences and the CAP aims because the CAP aims address all European farming. The main results indicate that agricultural economic, environmental, and social functions are equally important to the respondents in our study, even though the CAP prioritizes the economic ones. However, some citizen groups agree with the agricultural model designed by the CAP. (shrink)

We investigate the use of coalgebra to represent quantum systems, thus providing a basis for the use of coalgebraic methods in quantum information and computation. Coalgebras allow the dynamics of repeated measurement to be captured, and provide mathematical tools such as final coalgebras, bisimulation and coalgebraic logic. However, the standard coalgebraic framework does not accommodate contravariance, and is too rigid to allow physical symmetries to be represented. We introduce a fibrational structure on coalgebras in which contravariance is represented by (...) indexing. We use this structure to give a universal semantics for quantum systems based on a final coalgebra construction. We characterize equality in this semantics as projective equivalence. We also define an analogous indexed structure for Chu spaces, and use this to obtain a novel categorical description of the category of Chu spaces. We use the indexed structures of Chu spaces and coalgebras over a common base to define a truncation functor from coalgebras to Chu spaces. This truncation functor is used to lift the full and faithful representation of the groupoid of physical symmetries on Hilbert spaces into Chu spaces, obtained in our previous work, to the coalgebraic semantics. (shrink)

This is a contribution to construction of a research roadmap for future cognitive systems, including intelligent robots, in the context of the euCognition network, and UKCRC Grand Challenge 5: Architecture of Brain and Mind. -/- A meeting on the euCognition roadmap project was held at Munich Airport on 11th Jan 2007. This document was in part a response to discussions at that meeting. An explanation of why specifying requirements is a hard problem, and why it needs to be done, (...) along with some suggestions for making progress, can be found in this presentation: http://www.cs.bham.ac.uk/research/projects/cosy/papers/#pr0701 "What's a Research Roadmap For? Why do we need one? How can we produce one?" Working on that presentation made me realise that certain deceptively familiar words and phrases frequently used in this context (e.g. "robust". "flexible", "autonomous") appear not to need explanation because everyone understands them, whereas in fact they have obscure semantics that needs to be elucidated. Only then can we understand what the implications are for research targets. In particular, they need explanation and analysis if they are to be used to specify requirements and research goals, especially for publicly funded projects. -/- First draft analyses are presented here. In the long term I would like to expand and clarify those analyses, and to provide many different examples to illustrate the points made. This will probably have to be a collaborative research activity. (shrink)

Bijural services as factors of production -- Commentary A on Breton and Salmon -- Commentary B on Breton and Salmon -- The challenge of incomplete law and how different legal systems respond -- Commentary C on Pistor and Xu -- Commentary D on Pistor and Xu -- Coevolution as an influence in the development of legal systems -- Commentary E on Breton and Des Ormeaux -- Commentary F on Breton and Des Ormeaux -- The demand for bijurally trained (...) Canadian lawyers -- Commentary G on Davis and Trebilcock -- Commentary H on Davis and Trebilcock. (shrink)

It is argued that multiscale approaches are necessary for an explanatory modeling of biological systems. A first step, besides common to the multiscale modeling of physical and living systems, is a bottom-up integration based on the notions of effective parameters and minimal models. Top-down effects can be accounted for in terms of effective constraints and inputs. Biological systems are essentially characterized by an entanglement of bottom-up and top-down influences following from their evolutionary history. A self-consistent multiscale scheme (...) is proposed to capture the ensuing circular causality. Its differences with standard mean-field self-consistent equations and slow-fast decompositions are discussed. As such, this scheme offers a way to unravel the multilevel architecture of living systems and their regulation. Two examples, genome functions and biofilms, are detailed. (shrink)

Measurement in soft systems generally cannot exploit physical sensors as data acquisition devices. The emphasis in this case is instead on how to choose the appropriate indicators and to combine their values so to obtain an overall result, interpreted as the value of a property, i.e., the measurand, for the system under analysis. This paper aims at discussing the epistemological conditions of the claim that such a process is a measurement, and performance evaluation is the case introduced to support (...) the analysis, performed in systematic comparison with the paradigm of measurement of physical quantities. Some background questions arising here are: – Are the chosen indicators appropriate performance indicators? – Do such indicators convey complete and non-redundant information on performance? – Does the chosen combination rule generate results suitably interpretable as performance values? And enlarging the focus: – Does the obtained value specifically convey information on the system under analysis, instead of some different entity (typically including the subject who is evaluating)? Operatively: would different subjects evaluate the same system in the same way? i.e., is the obtained information objective? – Does the obtained value convey information that is interpretable in the same way by different subjects? Operatively: would different subjects who have agreed on a decision procedure make the same decision from the same performance information? i.e., is the obtained information intersubjective? Any well founded positive answers to these questions significantly support a structural interpretation of measurement encompassing both physical and soft measurement. (shrink)

What is the appropriate criterion to use for distributive justice? Is it efficiency, need, contribution, entitlement, equality, effort, or ability? Globalization and Economic Ethics maintains that far from being rival principles of distributive justice, efficiency and need satisfaction are, in fact, complementary norms in our emerging knowledge economy. After all, human capital plays the central role in effecting and sustaining long-term efficiency in the Digital Age. This book explores the vital link between human capital formation and allocative efficiency using (...) the properties of the market and the knowledge economy as analytical tools. (shrink)

_____This book challenges us to take a broad and ethical view of economic behavior, which includes all forms of exchange and human interaction, from how we spend our money to how we fulfill our role as responsible human beings in a global ecological framework. Drawing on Jewish ethical teachings, mystical lore, and tales of the Hasidic masters, the author examines a wide range of subjects, including competition, partnerships, and contracts, loans and interest, the laws of fair exchange, and tips (...) and presents. _____ The Kabbalistic teachings in this book not only impart wisdom about the world of money, but also lead us to self-understanding and the magic of knowing who we are, what we really want, and how to receive it. _____. (shrink)

(2013). The Elgar companion to recent economic methodology. Journal of Economic Methodology: Vol. 20, Methodology, Systemic Risk, and the Economics Profession, pp. 81-86. doi: 10.1080/1350178X.2013.774853.

Management control systems include justice implicitly, as they believe that the market provides what is just or not through the market value. Psychological literature has deemed that people can perceive which procedures and decisions are just or not. In this paper, we argue that management control systems need to include justice criteria explicitly, beyond mere market value, in both their design (formal justice) and use (informal justice). This will increase the probability that organizational members will collaborate to achieve (...) organizational goals. (shrink)

Taking note of the evidence in extant literature that corporate governance systems are designed to incentivise, monitor, and guide agents to achieve firm mission, this paper develops a dynamic model of corporate governance systems that views these systems as artificial realities (Simon 1996) in general, and institutions in particular. The paper suggests that viewing these systems as institutions has theoretical and practical implications for the study and design of these systems, and illuminates how the process (...) of double hermeneutic may explain the link between corporate governance research and policy recommendations to date and the US sub-prime crisis of 2007 onwards. (shrink)

According to Reichenbach’s principle of common cause, positive statistical correlations for which no straightforward causal explanation is available should be explained by invoking the action of a hidden conjunctive common cause. Hofer-Szabó and Rédei’s notion of a Reichenbachian common cause system is meant to generalize Reichenbach’s conjunctive fork model to fit those cases in which two or more common causes cooperate in order to produce a positive statistical correlation. Such a generalization is proved to be unsatisfactory in the light of (...) a probabilistic conception of causation. Accordingly, an alternative model for systems of multiple common causes is offered, which is capable of emulating the explanatory efficacy of Reichenbachian common cause systems, while overcoming their major conceptual shortcomings at the same time. (shrink)

The beliefs of economists are not solely determined by empirical evidence in direct relation to the theories and models they hold. Economists hold 'ontological presuppositions', fundamental ideas about the nature of being which direct their thinking about economic behaviour. In this volume, leading philosophers and economists examine these hidden presuppositions, searching for a 'world view' of economics. What properties are attributed to human individuals in economic theories, and which are excluded? Does economic man exist? Do markets have (...) an essence? Do macroeconomic aggregates exist? Is the economy a mechanism, the functioning of which is governed by a limited set of distinct causes? What are the methodological implications of different ontological starting points? This collection, which establishes economic ontology as a coordinated field of study, will be of great value to economists and philosophers of social sciences. (shrink)

(2013). The making of the economy: a phenomenology of economic science. Journal of Economic Methodology: Vol. 20, Methodology, Systemic Risk, and the Economics Profession, pp. 86-91. doi: 10.1080/1350178X.2013.774855.

Background Denmark has implemented a comprehensive, nationwide pharmaceutical information system, and this system has been evaluated by the Danish Council of Ethics. The system can be seen as an exemplar of a comprehensive health information system for clinical use. Analysis The paper analyses 1) how informed consent can be implemented in the system and how different implementations create different impacts on autonomy and control of information, and 2) arguments directed towards justifying not seeking informed consent in this context. Results and (...) Conclusion Based on the analysis a heuristic is provided which enables a ranking and estimation of the impact on autonomy and control of information of different options for consent to entry of data into the system and use of data from the system. The danger of routinisation of consent is identified. The Danish pharmaceutical information system raises issues in relation to autonomy and control of information, issues that will also occur in relation to other similar comprehensive health information systems. Some of these issues are well understood and their impact can be judged using the heuristic which is provided. More research is, however needed in relation to routinisation of consent. (shrink)

Understanding how scientific activities use naming stories to achieve disciplinary status is important not only for insight into the past, but for evaluating current claims that new disciplines are emerging. In order to gain a historical understanding of how new disciplines develop in relation to these baptismal narratives, we compare two recently formed disciplines, systems biology and genomics, with two earlier related life sciences, genetics and molecular biology. These four disciplines span the twentieth century, a period in which the (...) processes of disciplinary demarcation fundamentally changed from those characteristic of the nineteenth century. We outline how the establishment of each discipline relies upon an interplay of factors that include paradigmatic achievements, technological innovation, and social formations. Our focus, however, is the baptism stories that give the new discipline a founding narrative and articulate core problems, general approaches and constitutive methods. The highly plastic process of achieving disciplinary identity is further marked by the openness of disciplinary definition, tension between technological possibilities and the ways in which scientific issues are conceived and approached, synthesis of reductive and integrative strategies, and complex social interactions. The importance – albeit highly variable – of naming stories in these four cases indicates the scope for future studies that focus on failed disciplines or competing names. Further attention to disciplinary histories could, we suggest, give us richer insight into scientific development. (shrink)

Planning with incomplete knowledge becomes a very active research area since late 1990s. Many logical formalisms introduce sensing actions and conditional plans to address the problem. The action language $\mathcal{A}_{K}$ invented by Son and Baral is a well-known framework for this purpose. In this paper, we propose so-called cautious and weakly cautious semantics for $\mathcal{A}_{K}$ , in order to allow an agent to generate and execute reliable plans in safety-critical environments. Intuitively speaking, cautious and weakly cautious semantics enable the agent (...) to know exactly what happens after the execution of an action. Computational complexity analysis shows that cautious semantics reduces the reasoning complexity of $\mathcal{A}_{K}$ , it is also worth to point out that many useful domains could still be expressed with this setting. Another important contribution of our work is the development of Hoare style proof systems. These proof systems are served as inference mechanisms for the verification of conditional plans, and proved to be sound and complete. In addition, they could also be used for plan generation, in the sense that constructing a derivation is indeed a procedure to finding a plan. We point out that the proof systems posses a nice property for off-line planning, that is, the agent could generate and store short proofs in her spare time, and perform quick plan query by easily constructing a long proof from the stored shorter ones (under the assumption that sufficient proofs are stored). (shrink)

This paper argues that modern economic theory is essentially utilitarian with one significant exception: its abandonment of a multi-dimensional conception of utility. The paper reviews three alternative methods by which utility can be portrayed as a one-dimensional, hence determinate, index of desire, while suggesting that none of them can command empirical support. A second theme of the paper is that classical utilitarianism, by denying the ontological existence of intrinsic worth, implies the coincidence of economic and ethical aggregate (...) optimality: those choices that maximize the self-perceived happiness of rational agents are also the right choices. Non-utilitarian ethics, by contrast, attains determinate optima by means of an a priori designation of intrinsic worth. It is argued that most philosophers, following G. E. Moore, have missed the true issue that divides utilitarian and non-utilitarian ethics, for they have presumed that all ethical systems presuppose intrinsic worth. (shrink)

This book introduces the moral philosophy of Immanuel Kant—in particular, the concepts of autonomy, dignity, and character—to economic theory, explaining the importance of integrating these two streams of intellectual thought. Mainstream economics is rooted in classical utilitarianism, recommending that decision makers choose the options that are expected to generate the largest net benefits. For individuals, the standard economic model fails to incorporate the role of principles in decision-making, and also denies the possibility of true choice, which can be (...) independent of preferences and principles altogether. For policymakers, standard decision-making frameworks recommend tradeoffs that are beneficial in terms of material goods or wealth, but may be morally questionable from a more person-centered perspective. Integrating Kantian ethics affects economics in three important ways. This integration allows for a more complete understanding of human choice, incorporating not just preferences and constraints, but also principles and strength of will or character. It demonstrates the broader impact of welfare economics, which generates policies that affect not only persons' well-being, but also their dignity and autonomy. Finally, it reconciles the traditional, individualist stance in economic models of choice with the social responsibility emphasized by many systems of philosophical ethics and heterodox schools of economics. (shrink)

(2013). Introduction: Methodology, systemic risk, and the economics profession. Journal of Economic Methodology: Vol. 20, Methodology, Systemic Risk, and the Economics Profession, pp. 1-5. doi: 10.1080/1350178X.2013.774842.