Economics and Justice

A partir de uma análise crítica da teoria econômica da democracia de Downs, examinam-se, em termos do problema da "seleção adversa" de Ackerlof, os efeitos da assimetria de informação entre candidatos (com taxas diferentes de demagogia) e eleitores (com níveis diferentes de conhecimento), contra o pano de fundo da relação entre divisão de trabalho e democracia.

This chapter situates John Rawls’ just savings principle in a discussion about how much a nation-state should save. The main question addressed is whether this principle is a viable alternative to the dominant utilitarian theory of optimal growth. Rawls certainly gives savings a different aim (i.e., to create and maintain just institutions) and introduces additional permissibility conditions on reaching this goal (i.e., the necessary burdens should be fairly shared between generations). He thereby gives rise to the field of research now (...) known as intergenerational justice. To assess the relative merits of the just savings principle, however, more details are needed; and this chapter aims to supply some of them. First, the principle of just savings is given a more determinate form whereby it is understood as a two-stage combination of a priority principle at the stage of institutional development and a difference principle at the maintenance stage. Second, some of its practical bearings are explored (i.e., its implications for real-life savings decisions). Among other things, the idea that the principle leads to a steady-state economy is problematized, and its relevance to concrete problems, such as climate change and the design of pension schemes, is assessed. (shrink)

The proposal on offer is a radical form of egalitarianism. Under it, each citizen receives the same income, regardless of profession or indeed whether he or she works or not. This proposal is bad for two reasons. First, it is inefficient. It would eliminate nearly all incentive to work, thereby shrinking national income and leaving all citizens poorly off (albeit equally poorly off). I illustrate this inefficiency via an indifference curve analysis. Second, the proposal would be regarded as unjust by (...) almost everyone. The empirical work on justice makes this plain. Equal pay for equal work is desirable; equal pay no matter what is something else entirely. It is an idea not likely to find adherents. (shrink)

Abstract : This introduction to a special issue on "Normes and normativity" emphasizes the difficulties and challenges of distinguishing between a positive approach and a normative approach to norms in economics. Collective life is organized by norms, however the mere fact that they regularly influence behaviours does not imply their desirability. A strict description of norms may require consideration of ethical issues, which may be reported by different methods; choosing among norms however is an activity of a fundamentally normative nature, (...) which questions the legitimacy of decisions and evaluations. The very possibility of a demarcation between is and ought is not straightforward. In welfare economics in particular, the standard approaches that aim to avoid value judgements (welfarism) or to isolate them (axiomatics) can be problematic. To conclude, we present the four articles in the special issue meant to illustrate these issues regarding the nature, knowledge, value of norms and the positive-normative distinction. -/- Résumé : Cette introduction à un dossier thématique sur le thème "Normes et normativité" insiste sur les difficultés et les enjeux de la distinction entre les approches positives et normatives des normes en économie. La vie collective est organisée par des normes, mais qu’elles ordonnent les comportements dans les faits n’impliquent pas qu’elles soient désirables. Une stricte description des normes peut nécessiter de prendre en compte les questions éthiques, lesquelles peuvent être traduites par différentes méthodes ; choisir les normes en revanche est une activité de nature fondamentalement normative, qui interroge la légitimité des décisions et des évaluations. La possibilité même de démarcation entre positif et normatif ne va pas de soi : en particulier en économie du bien-être, les approches standards qui visent à éviter les jugements de valeur (le welfarisme) ou à les isoler (l’axiomatique) peuvent s’avérer problématiques. Pour conclure, nous présentons les quatre articles du numéro qui illustrent ces questionnements relatifs à la nature, la connaissance, la valeur des normes et la distinction entre normatif et positif. (shrink)

Recent work by comparative philosophers, global ethicists, and cross-cultural value theorists indicates that, unlike most Western thinkers, those in many other parts of the globe, such as indigenous Africa, East Asia, and Latin America, tend to prize relationality. These relational values include enjoying a sense of togetherness, participating cooperatively, creating something new together, engaging in mutual aid, and being compassionate. Global economic practices and internationally influential theories pertaining to justice, development, and normative economics over the past 50 years have been (...) principally informed by characteristically Western and individualist values such as utility, autonomy, and capability. In this article I consider what economic appropriation, production, distribution, and consumption would look like if they were more influenced by relational values typical of non-Western worldviews, and especially the sub-Saharan ethic of ubuntu. (shrink)

This book provides a systematic defense of moral contractarianism as a distinct approach to the social contract. It elucidates, in comparison to moral conventionalism and moral contractualism, the distinct features of moral contractarianism, its scope, and conceptual and practical challenges that concern the relationship between morality and self-interest, the problems of assurance and compliance, rule-following, counterfactualism, and the nexus between morals and politics. It argues that, if appropriately conceived, moral contractarianism is conceptually coherent, empirically sound, and practically relevant, and has (...) much to offer to contemporary moral philosophy. (shrink)

Dal momento che Gintis è un economista senior e ho letto alcuni dei suoi precedenti libri con interesse, mi aspettavo qualche più intuizione sul comportamento. Purtroppo, fa le mani morte della selezione di gruppo e della fenomenologia nei pezzi centrali delle sue teorie del comportamento, e questo invalida in gran parte l'opera. Peggio ancora, dal momento che mostra un tale cattivo giudizio qui, mette in discussione tutto il suo lavoro precedente. Il tentativo di resuscitare la selezione di gruppo da parte (...) dei suoi amici ad Harvard, Nowak e Wilson, alcuni anni fa è stato uno dei maggiori scandali della biologia nell'ultimo decennio, e ho raccontato la triste storia nel mio articolo 'Altruismo, Gesù e la fine del mondo: come la Templeton Foundation ha acquistato una cattedra di Harvard e ha attaccato Evolution, Rationality and Civilization - Una recensione di E.O. Wilson 'The Social Conquest of Earth' (2012) e Nowak and Highfield 'SuperCooperators'). A differenza di Nowak, Gintis non sembra essere motivato dal fanatismo religioso, ma dal forte desiderio di generare un'alternativa alle cupe realtà della natura umana, reso facile dalla mancanza (quasi universale) della comprensione della biologia umana di base e dello slateismo in bianco degli scienziati comportamentali, di altri accademici e del pubblico in generale. Gintis attacca giustamente (come ha fatto molte volte prima) economisti, sociologi e altri scienziati comportamentali per non avere un quadro coerente per descrivere il comportamento. Naturalmente, il quadro necessario per comprendere il comportamento è evolutivo. Purtroppo, non riesce a fornire uno se stesso (secondo i suoi molti critici e io concordo), e il tentativo di innestare il cadavere marcio di selezione di gruppo su qualsiasi teoria economica e psicologica che ha generato nei suoi decenni di lavoro, invalida semplicemente il suo intero progetto. Anche se Gintis fa uno sforzo coraggioso per capire e spiegare la genetica, come Wilson e Nowak, è lontano da un esperto, e come loro, la matematica lo acceca alle impossibilità biologiche e, naturalmente, questa è la norma nella scienza. Come Wittgenstein notoriamente ha notato sulla prima pagina di Cultura e Valore "Non esiste una denominazione religiosa in cui l'uso improprio delle espressioni metafisiche è stato responsabile di tanto peccato come ha fatto in matematica." È sempre stato chiaro che un gene che provoca un comportamento che diminuisce la propria frequenza non può persistere, ma questo è il nucleo della nozione di selezione del gruppo. Inoltre, è stato ben noto e spesso dimostrato che la selezione di gruppo riduce solo alla forma fisica inclusiva (selezione dei parenti), che, come ha notato Dawkins, è solo un altro nome per l'evoluzione per selezione naturale. Come Wilson, Gintis ha lavorato in questa arena per circa 50 anni e ancora non l'ha afferrato, ma dopo lo scandalo è rotto, mi ci sono voluti solo 3 giorni per trovare, leggere e capire il lavoro professionale più rilevante, come descritto nel mio articolo. È da capo giro rendersi conto che Gintis e Wilson non sono stati in grado di raggiungere questo obiettivo in quasi mezzo secolo. Discuto gli errori di selezione di gruppo e fenomenologia che sono la norma nel mondo accademico come casi speciali della quasi universale incapacità di comprendere la natura umana che stanno distruggendo l'America e il mondo. Coloro che desiderano un quadro aggiornato completo per il comportamento umano dalla moderna vista a due systems possono consultare il mio libro 'La struttura logica dellafilosofia, psicologia, Mind e il linguaggio in Ludwig Wittgenstein e John Searle' 2nd ed (2019). Coloro che sono interessati a più dei miei scritti possono vedere 'TalkingMonkeys--Filosofia, Psicologia, Scienza, Religione e Politica su un Pianeta Condannato--Articoli e Recensioni 2006-2019 3rd ed (2019) e Suicidal Utopian Delusions nel 21st Century 4th ed (2019) . (shrink)

My paper reconstructs Fichte's property theory and political economy in Foundations of Natural Right and The Closed Commercial State. Fichte's theory of property requires the rejection of the classical liberal theory of property rights. Fichte's alternative theory of property, in conjunction with his republican account of the state's role in guaranteeing individual rights, further requires the rejection of a market economy in favor of a planned economy. For Fichte's view entails the normative necessity of a political economy in which the (...) production and transfer of goods and services, across large sectors of the economy, are mandated by the state in advance in accordance with an economic plan. As a result, Fichte reconceives his contractualism as necessarily including the negotiation of a state‐enforced plan for eco- nomic activity. Thus, Fichte's new theory of property in Foundations of Natural Right has extremely wide‐ranging implications for the rest of his political and economic thought. The negotiation of fair terms of political associa- tion characteristic of classical contractualist thought becomes in Fichte's hands the negotiation of an economic plan that defines each individual's socioeconomic rights. I conclude with some brief remarks on the sense in which Fichte's theory serves as a cautionary tale for later socialists. (shrink)

Atribuindo a condição de propriedade ao trabalho a teoria de Locke dissimula a desigualdade através da “igualdade de relações” de indivíduos abstratos em um sistema jurídico-político que encerra uma liberdade proporcional ao status dos indivíduos como agentes econômicos, conforme assinala a pesquisa que, dessa forma, defende que, se cabe à sociedade política a delimitação das obrigações da lei natural, o que se impõe ao direito de propriedade individual é a restrição do seu exercício à necessidade, tendo em vista as múltiplas (...) formas que pode assumir como mercadoria nas relações de troca, que implicam a força de trabalho como objeto de troca e consumo em uma formação econômico-social que torna o homem uma simples mercadoria. Nesta perspectiva, baseado na teoria de Rousseau, que confere à Vontade Geral a condição para o exercício da soberania popular, o trabalho em questão, a partir da concepção dialético-materialista da universalidade, detém-se em seu processo de formação que, inter-relacionando deliberação e decisão, tende à correspondência entre fato e direito, convergindo para assinalar a sua capacidade de atribuir ao sistema de direitos e deveres a necessária conformidade envolvendo a realidade histórico-cultural e econômico-social concreta. Dessa forma, consistindo em um processo ético-jurídico de deliberação coletiva, o que se impõe à manifestação da Vontade Geral é um movimento dinâmico-dialético que demanda uma formação econômico-social baseada no interesse comum, convergindo para uma forma de autodeterminação que guarda possibilidade de promover a superação da alienação das capacidades humanas no contexto das relações socioprodutivas, a saber, a autogestão. Tal experiência social de autodeterminação coletiva envolve tanto a esfera política quanto o âmbito econômico (trabalho) e encerra a noção que implica desde a igualdade substancial (concreta) até a efetiva participação política, sobrepondo-se ao viés mercadológico da organização econômico-social vigente e à estrutura burocrática corporificada pelo Estado no sistema capitalista. (shrink)

The phenomenon of corruption is a cancer that affects our country and that it is necessary to eradicate; This dilutes the opportunities for economic and social development, privileging the single conjunction of particular interests, political actors in non-legal agreements for their own benefit, which lead to acts of corruption. Recent studies indicate that the level of corruption present in a political system is directly related to the type of institutional structure that defines it (Boehm and Lambsdorff, 2009), as well as (...) the ineffectiveness of the control organisms (Casar, 2015; Cárdenas, 2010, Rojas, 2010, Carbonell, 2009, Restrepo, 2004), which requires citizen action to combat corruption (Sandoval, 2010, Villanueva, 2006). This work, focuses our attention on the federal public administration, presenting as a proposal to empower the citizen action in the fight against corruption and in the National Anticorruption System; the figure of Whistleblowers or generator of citizen alert, based on two fundamental principles: i) recognizing the citizen's obligation to report acts of corruption and ii) the granting by the authority of witness protection. These two actions will result in two important results: i) Consolidate the citizen's complaint to inform society about acts of corruption and ii) and the exercise of freedom of information so that society is able to be informed about acts of corruption. These actions will allow promoting and consolidating a culture of reporting acts of corruption that may constitute a crime as a fundamental pillar in the National Anticorruption System in Mexico. (shrink)

In Mexico, the management of public resources has been questioned by the State, and mainly the results that the public administration at its three levels (federal, state and municipal), by the lack of transparency in the application and verification of public resources. The experience that gives us the operation of different emerging programs that focused on reducing social and economic inequality in the country, we can locate them as the first attempts in the search for a solution that is complex. (...) Moving from the role of the benefactor and welfare state to the promoter of the regions and in the recognition of the focalization of priority attention areas, the path that has been taken is not only the beginning. Recognizing the public nature of public finances as a promoter of social development, we must understand it as the one assumed by the State through social, political and economic co-responsibility to solve poverty and marginalization of its own public policy orientation and vision of solution has been made since the eighties. From the above, we can point out some preliminary conclusions including the study of the indigenous language-speaking population with a high level of social exclusion in the methodology for the definition of multidimensional poverty in Mexico, will allow the allocation of public resources in the fight against poverty to be effective since it will make it possible to identify to the target population that is subject to social exclusion and marginalization. This invites us to a final reflection: What to do to address the just social demands of the indigenous population that is immersed in poverty, marginalization and exclusion? What to do so that they do not leave their communities, and if they have already done so, how to attend to the needs of family groups that are due to the expense of a remittance that may never arrive? (shrink)

Household debt has been widely discussed among social scientists, policy makers, and activists. Many have questioned the levels of debt households are required to take on, and have made various proposals for assisting households in debt. Yet theorists of distributive justice have left household debt underexamined. This article offers a normative examination of the distributive justice issues presented by proposals to relieve household debt or protect households from overindebtedness. I examine two goals at which debt relief proposals aim: remedying disadvantage (...) and stabilizing expectations. I then examine strategies for relieving existing debts such as debt abolition, forgiveness, bankruptcy, and mitigation, as well as strategies that aim to prevent future indebtedness, such as public provision or financing of costly goods and credit or interest rate regulations. (shrink)

This article concerns freedom and financial markets. First, I consider the republican case for liberalization, extending Robert Taylor’s economic model of republicanism to financial markets. This c...

The modern epoch is characterized by a paradoxical form of social inequality: poverty expands alongside the unprecedented growth in socially-produced wealth. Any conception of this dynamic stakes a claim within the classical liberal problematic, where the central political challenge is the negotiation of individual interests with those of the social whole. Part one of this work analyzes three conceptions of this inequality paradox, those of G.W.F. Hegel, Karl Marx and John Maynard Keynes. Each encompasses a perspective on the nation-state and (...) its relationship to the institutions of economic intercourse. Chapter One analyzes and argues for an interpretation of “the problem of poverty” in Hegel’s Philosophy of Right. I intervene in an ongoing discussion on whether and how Hegel resolves the problem he raises, which holds important implications for those drawing insights from Hegel’s work today. Marx’s work responds to Hegel and represents an original viewpoint on modern inequality (Chapter Two). He identifies its dual economic and political character. I argue that the consolidation of modern property relations in Europe played a critical role in the development of his conception and most theoretically significant is his debate with Proudhon on the cause of inequality. Chapter Three presents an analysis of Keynes’s conception of the inequality paradox. I present a philosophical assessment of his proposed rectification, showing the justifications he offers bear remarkable similarity to Hegel’s approach. Part two takes us to the present day. Expansion of social inequality in the last phase of global expansion of capitalism has strained the nation-state system to its limits, posing economic and political challenges for which there are no institutional solutions. Considering the historical conceptions, I offer an appraisal of contemporary Keynesian perspectives and a counter-assessment, based on the inequality data Piketty, et al. have produced, to argue for a more equitable and democratic alternative. (shrink)

In the course of the eighteenth and nineteenth centuries the paradigm of a new science, political economy, was established. It was a science distinct from the Aristotelian sub-disciplines of practical philosophy named oikonomía and politiké, and emphasis on its character of science not unlike the natural sciences – still called ‘natural philosophy’ – mirrored precisely a willingness to stress its autonomy from two other sub-disciplines of practical philosophy, that is, ethics and politics. However, the new science resulted from a transformation (...) of part of traditional practical philosophy, allowing the inclusion of bodies of knowledge accumulated by experts of commerce and public finance. Such bodies of knowledge were unified by the (true or alleged) discovery of regularities, mechanisms, causal connections making for a new partial order within the overall social order. How far this paved the way to a science similar to mathematics rather left a normative discipline as alive as ever was a recurrent question for at least a century, until the marginalist revolution opened the way for a sharp division, leaving ‘economics’ as a science of causes and effects facing ‘economic policy’ as a discourse on ends. (shrink)

I reconstruct Adam Smith’s theory of irony and its application. I illustrate how he defines it as a combination of something “grand” with something “mean” and how this is consistent with his anti-Cartesian and post-skeptic epistemology. I suggest that, for Smith, “systems” of any kind, from Cartesian physics to philosophical monotheism, Stoic ethics, and the “mercantile system” draw their apparent plausibility from some disease of human imagination. I argue that in every field, including political economy, in his view, the philosopher’s (...) task is partially sceptical and partially ironical. That is, it is the task to fight erroneous systems by showing how these arise from unwarranted associations of ideas between apparently “grand” ideas —say, the public interest— with “mean” ones, say, the merchants’ self-interest. In this light, the phrase “invisible hand” turns out to be both an ironic joke and one more application of Smith’s post-skeptical theory of knowledge whose target is dismantling all kind of “invisible” entities that human imagination tends to create. (shrink)

Economic pressures, mounting environmental, security and health requirements, are all critical factors that shape economic action. With regard to environmental protection, an economic entity acting as homo oeconomicus finds himself in a situation resembling a prisoner’s dilemma. Signposts for a possible resolution of this dilemma include an environmental management system, a system of environmental law based on the principles of environmental ethics, and a new conception of human nature.

Climate change policy decisions are inescapably intertwined with future generations. Even if all carbon dioxide emissions were to be stopped today, most aspects of climate change would persist for hundreds of years, thus inevitably raising questions of intergenerational justice and sustainability. -/- The chapter begins with a short overview of discount rate debate in climate economics, followed by the observation that discounting implicitly makes the assumption that natural capital is always substitutable with man-made capital. The chapter explains why non-substitutability matters (...) if we are to take intergenerational justice seriously and invest aptly in mitigation. Non-substitutability simply implies that there are some forms of capital that cannot be substituted by another, and so consumption of one cannot be compensated with additional stocks of the other. The non-substitutability of critical natural capital can be defended without empirical data about preferences or the need to view the environment as a superior good, and the argument is presented through the language of keeping options open. -/- Those alive today make decisions about what natural capital to use and what to save for future. These choices are often represented as different points in a continuum of sustainability: weak sustainability is associated with a high degree of substitutability and therefore a lot of flexibility over what capital to consume, whereas strong sustainability is more stringent on substitutability. While it may be that in economical understanding weak and strong sustainability collapse into one another, philosophically the emphasis is slightly different. The chapter discusses how normative sustainability can be supported without ignoring opportunity costs and trade-offs. (shrink)

In this article, I consider whether there are values intrinsic to development theory and practice that are dubious in light of a characteristically African ethic. In particular, I focus on what a certain philosophical interpretation of the sub-Saharan value of communion entails for appraising development, drawing two major conclusions. One is that a majority of the criticisms that have been made of development by those sympathetic to African values are weak; I argue that, given the value of communion, development should (...) not be rejected because it is essentially, say, overly materialistic and scientistic, or insufficiently spiritual and local. The second conclusion, however, is that three criticisms of development are strong from the perspective of Afro-communalism and are particularly powerful when set in that context. I argue that development theory and practice are characteristically anthropocentric, individualist and technocratic, and that a reading of the sub-Saharan value of communion provides a unitary foundation for rejecting these features and for grounding an alternative, more relational approach to social progress and to what justice demands from the West in relation to Africa. (shrink)

Some people may think that libertarianism and meritocracy have much in common; that the libertarian's ideal world looks like the meritocrat's ideal world; and that the public policies guiding us to each are one and the same. This is wrong in all respects. In this essay I explain why. -/- After providing an overview of meritocratic justice, I argue that meritocracy is a more compelling theory of distributive justice than libertarianism. Meritocracy better protects the core value of personal responsibility; incorporates (...) efficiency-enhancing regulation which libertarianism cannot; provides more positive liberty; and solves salient, real-world debates about distributive justice. (shrink)

Résumé: Ce chapitre porte sur les théories de la justice distributive entre générations. La première partie discute trois défis à la possibilité même de parler d’obligations de justice intergénérationnelle : le problème de la non-existence, le problème de la non-identité, la conclusion répugnante. La deuxième partie discute la justification et la définition des obligations de justice à l’égard des générations futures, à partir de trois théories : le suffisantisme, le welfarisme, le principe de juste épargne de Rawls. Cette discussion conclut (...) que : (i) la version la plus plausible du suffisantisme prôné par le célèbre rapport Brundtland est un suffisantisme multiniveaux, qui permet de prioriser la satisfaction des besoins de base des différentes générations tout en reconnaissant l’importance de garantir les aspirations dans un second temps. (ii) Le problème de la malléabilité des préférences futures semble de prime abord une objection décisive contre le welfarisme intergénérationnel : même si nous leur léguions très peu de ressources et un environnement dégradé, nous pourrions apprendre aux générations suivantes à adapter leurs préférences à cette situation. Nous montrons que le welfarisme peut répondre à cette objection. (iii) Une interprétation à la fois suffisantiste et limitiste du principe de juste épargne rawlsien est proposée : l’épargne intergénérationnelle est requise jusqu’à ce que le capital accumulé suffise à maintenir les institutions justes ; sous la forme de croissance des richesses matérielles, l’épargne intergénérationnelle est prohibée au-delà d’une certaine limite car elle érode le sens de la justice. La troisième partie aborde la question de la mise en œuvre de la justice intergénérationnelle en contexte non-idéal. -/- Abstract This chapter is about distributive justice between generations. The first part discusses three challenges to the meaningfulness of talking about obligations of intergenerational justice: the non-existence problem, the non-identity problem, the repugnant conclusion. The second part discusses the justification and definition of justice obligations towards future generations, according to three theories: sufficientarianism, welfarism, Rawls’s just savings principle. This discussion reaches three conclusions. (i) The most plausible version of Brundtland’s sufficientarianism is multilevels sufficientarianism, which enables us to prioritize meeting the basic needs of each generation over the fulfilment of their aspirations, without denying the importance of realizing these aspirations once needs are being met. (ii) At a first glance, the fact that future preferences are malleable seems a problem for intergenereational welfarism and a decisive objection against it. Even if we bequeathed very little resources and a degraded environment to the next generation, we could teach them to adapt their preferences to this situation. We argue that welfarism can answer this objection. (iii) We propose an interpretation of Rawls’s just savings principle that is both sufficientarian and limitarian. Intergenerational savings are required until enough capital is accumulated to maintain just institutions over time. Intergenerational savings in the form of material wealth growth is prohibited beyond a certain limit because it erodes the sense of justice. The third part addresses how to implement intergenerational justice in a non-ideal context. (shrink)

Thomas C. Leonard presents an intellectual history of the Progressive Era from the perspective of economists. It is hard to understate the influence this group had in developing Progressive ideas. Leonard brilliantly details how Progressive economists wielded enormous influence not only in spreading ideas about traditional economic concepts, but also ideas and theories that influenced political and civil liberties. For example, the Progressives gave us the social science professor, the scholar-activist, social worker, muckraking journalist, and expert government advisor. All of (...) these reform-vocations, according to Leonard, sought to replace the invisible hand of the market with the visible hand of the administrative state. In short, Leonard’s book is a must-read for everyone remotely interested in political economy. (shrink)

Mark Pennington’s Robust Political Economy is a systematic exposition of a framework for analyzing institutional performance. The Robust Political Economy framework evaluates institutions according to their ability to solve knowledge and incentive problems. On grounds of robustness, Pennington combines insights from Austrian market-process theory and public-choice theory to defend classical liberalism from several compelling critiques. These include theories of market failure in economics; communitarian, deliberative-democratic, and liberal-egalitarian theories of justice; and concerns with social capital, domestic and international poverty, and ecology.

Le but de ce recueil est d’offrir des commentaires accessibles et introductifs aux textes classiques qu’ils accompagnent, en ouvrant des perspectives de discussion sur le thème du capitalisme. C’est en ce sens qu’Emmanuel Chaput lance le débat en commentant le texte de Pierre-Joseph Proudhon, « Qu’est-ce que la propriété ? ». Les textes de Karl Marx ne sont bien sûr pas laissés pour compte : Samuel-Élie Lesage s’engage fermement dans cette voie en discutant L’idéologie allemande de Karl Marx, Christiane Bailey (...) nous offre d’approcher différemment l’œuvre marxienne en abordant son traitement de la question animale dans des extraits du Manifeste du parti communiste et du Travail salarié et capital, et Mathieu Joffre-Lainé nous présente une analyse fine des questions proprement économiques du Capital. Abordant les alternatives au capitalisme dans la pensée de Léon Bourgeois, Éliot Litalien commente La Solidarité et Simon-Pierre Chevarie-Cossette s’attaque à l’analyse de l’Essai d’une philosophie de la solidarité. Enfin, en liant capitalisme, patriarcat et pouvoir politique, Tara Chanady propose une lecture du texte Du mariage et de l’amour de Emma Goldman. La conclusion de Marie-Eve Jalbert se situe dans une perspective contemporaine et critique en décortiquant la critique du socialisme avancée par Friedrich A. Hayek. (shrink)

In this article the author considers the essential connection between liberal individualism, reforms and initiativeness. The author shows that liberal individualism has nothing in common with robinsonade, egoism and narrow view upon the things. On the contrary, it sets free the initiativeness of people and makes them active in social, economic and civil spheres. Consequently, if Ukrainians want the decentralization in all the spheres of life, then it is necessarily to realize the ideas of classical liberalism: liberty, equality and justice. (...) For the western countries of the later capitalism it is the passed way. Therefore in the article the author also considers the obstacles and the perspectives of the realization of ideas’ classical liberalism in Ukraine. (shrink)

Proponents of evidence-based policy (EBP) call for public policy to be informed by high-quality evidence from randomized controlled trials. This methodological preference aims to promote several epistemic values, e.g. rigor, unbiasedness, precision, and the ability to obtain causal conclusions. I argue that there is a trade-off between these epistemic values and several non-epistemic, moral and political values. This is because the evidence afforded by preferred EBP methods is differentially useful for pursuing different moral and political values. I expand on how (...) this challenges ideals of value-freedom and -neutrality in EBP, and offer suggestions for how EBP methodology might be revised. (shrink)

This book examines the theoretical foundations of order ethics and discusses business ethics problems from an order ethics perspective. Order ethics focuses on the social order and the institutional environment in which individuals interact. It is a well-established paradigm in European business ethics. The book contains articles written by leading experts in the field and provides both a concise introduction to order ethics and short summary articles homing in on specific aspects of the order-ethical paradigm. It presents contributions describing fundamental (...) concepts, historical roots, and the economic, social, and philosophical background of the theory. The second part of the handbook focuses on the theory's application in business, society, and politics, casting new light on an array of topics that loom large in contemporary ethical discourse.​. (shrink)

Is the minimum wage ethically justifiable? In this chapter, we attempt to answer this question from an order-ethical perspective. To this end, we develop two simple game theoretical models for different types of labour markets and derive policy implications from an order-ethical viewpoint. Our investigation yields a twofold conclusion. Firstly, order ethicists should prefer a tax-funded wage subsidy over minimum wages, if they assume that labour markets are perfectly competitive. Secondly, order ethics suggests that the minimum wage can be ethically (...) justified if employers have monopsony power in the wage setting process. As it turns out, then, order ethics neither favours nor disfavours the minimum wage. Rather, it implies conditions under which this form of labour market regulation is justified and, hence, allows empirical science to play a great role in answering the ethical questions that arise in the context of the minimum wage debate. This illustrates one of order ethics’ strengths, viz. the fact that it tends to de-ideologize the debate about ethical issues. (shrink)

We offer a concise introduction to the methodology of order-ethics and highlight how it connects aspects of economic theory and, in particular, game theory with traditional ethical considerations. The discussion is conducted along the lines of five basic propositions, which are used to characterize the methodological approach of order ethics.

Numerous philosophers allege that the "general theory of second best" (Lipsey and Lancaster, 1956) poses a challenge to the Target View, which asserts that real world reform efforts should aim to establish arrangements that satisfy the constitutive features of ideal just states of affairs. I demonstrate two claims that are relevant in this context. First, I show that the theory of second best fails to present a compelling challenge to the Target View in general. But, second, the theory of second (...) best requires ideal theorists to undertake certain kinds of causal and comparative analyses that are typically thought to lie beyond the borders of conventional ideal theory. (shrink)

We address the most fundamental yet routinely ignored issue in economics today: that of distributive impact of the monetary system on the real economy. By re-examining the logical implications of token re-presentation of value and Irving Fisher’s theory of exchange, we argue that producers of value incur incidental expropriation of wealth associated with the deflationary effect that new value supply has on the purchasing power of money. In order to remedy the alleged inequity we propose a value-added negative tax (VANT) (...) based on net individual contribution to the economic output, which is structured as a negative tax function geared to profits derived from eligible productive activities in consideration of their estimated deflationary impact. We show that an adequately optimised VANT can be non-inflationary and have zero net cost to the public. Furthermore, economic output stands to improve due to direct incentivisation of value creation, making the proposed scheme not only politically feasible but economically desirable. The proposal advances the principle of ‘fair money’, where all forms of economic value are attributed to their rightful owners prior to any positive taxation. (shrink)

In this retrospective for Ethics, I discuss H.M. Oliver’s “Established Expectations and American Economic Policies.” This article, by a then-modestly-famous economist, has been ignored (no citations) since its 1940 publication. Yet it bears directly on a normative problem at the intersection of ethics and economics that challenges today’s policymakers but has received comparatively little philosophical attention: how should we balance potentially desirable institutional change against the disruption of established expectations? -/- Oliver details how the principle of fulfilling established expectations cuts (...) across political lines. Conservatives, he observes, criticized inflation for disrupting expectations, and demanded the protection of established corporations. New Deal progressives achieved “the safeguarding of the economic positions of certain important sections of the American people” (104) via statutes designed to protect income and homeownership status. And labor leaders lobbied for the preservation of occupational status. Oliver criticizes these demands on two grounds. First, they are noncompossible: they can’t simultaneously be fulfilled. Second, they are economically inefficient. He concludes that “in a modern dynamic economy, the preservation of status is not and cannot be a feasible criterion of economic justice” (107). -/- I argue that Oliver accurately recognizes both the wide endorsement and the moral ill-foundedness of fulfilling expectations. However, I criticize Oliver’s belief in the noncompossibility of expectations. The established expectations of the wealthy, middle-class homeowners and retirees, and current workers can all be maintained, but at the price of constricting the opportunities of new graduates, immigrants, and the poor—all groups yet to develop settled expectations. This insight renders the protection of expectations not merely inefficient but also unjust. (shrink)

We identify three points of intersection between economics and ethics: the ethics of economics, ethics in economics and ethics out of economics. These points of intersection reveal three types of conversation between economists and moral philosophers that have produced, and may continue to produce, fruitful exchange between the disciplines.

G. A. Cohen proposes to eradicate inequality without loss of efficiency or freedom by relying on an egalitarian ethos requiring us to undertake socially useful occupations we would rather not take, and work hard at them, without requesting differential incentive payments. Since the ethos is not legally enforced, Cohen denies it threatens our occupational freedom. Drawing on the work of Joseph Raz, the paper argues that Cohen's proposal threatens our occupational autonomy even if it leaves our legal freedom intact. It (...) also proposes a revised ethos which respects occupational autonomy. (shrink)

Capitalism: The Birth of an Idea. Amongst the Enlightenment’s emancipatory slogans was a call for the liberation of economic energy, a call that was most fully expressed by Adam Smith in Inquiry into the Nature and Causes of the Wealth of Nations. Smith provided a final analysis of the mercantilist system that had been prevailing from the beginning of the sixteenth century. By justifying the superiority of the free market economy models, Smith created the intellectual foundations for the capitalist order. (...) He proposed a model for the production and distribution of goods that was based on two pillars: the right to private property and free market institutions. The vision of capitalism created by Smith was a system of power and freedom: a system of individual sovereignty over the world of objects and a system of the free circulation of goods. The combination of these two principles resulted in a coherent system which, when used in practice, has shown remarkable efficiency. Smith’s work proved to be a reliable way to achieve worldly success, one that has worked wherever it was tried out. Capitalism, and the accompanying moral philosophy, was the most commonly pursued idea of the eighteenth century. (shrink)

John Rawls argues that it is possible to describe a suitably defined initial situation from which to form reliable judgements about justice. In this initial situation, rational persons are deprived of information that is . It is rational, Rawls argues, for persons choosing principles of justice from this standpoint to be guided by the maximin rule. Critics, however, argue that (i) the maximin rule is not the appropriate decision rule for Rawls's choice position; (ii) the maximin argument relies upon an (...) imprecise account of the satisfactory minimum to be secured under the maximin rule; or that (iii) Rawls relies upon unrealistic assumptions about diminishing marginal value. These critics, I will suggest, argue from a number of assumptions that are confused or false. The satisfactory minimum that choosers in the original position seek to achieve is not a minimum level of primary goods, nor is the satisfactory minimum sought under the maximin rule supplied by the difference principle. I will argue that the maximin argument is more robust than has generally been recognized and that this argument performs a number of important functions in clarifying the nature and implications of Rawls's argument for justice as fairness. (shrink)

Retributivist accounts of punishment maintain that it is right to punish wrongdoers, even if the punishment has no future benefits. Research in experimental economics indicates that people are willing to pay to punish defectors. A complementary line of work in social psychology suggests that people think that it is right to punish wrongdoers. This work suggests that people are retributivists about punishment. However, all of the extant work contains an important potential confound. The target of the punishment is expected to (...) be aware of the punitive act. Thus, it's possible that people punish because they want to communicate something to the wrongdoer, e.g. disapproval, the presence of a norm, etc. In three studies, we examine whether people will punish even when the punishee will be ignorant. We find that people are no less likely to punish when the punishee will be ignorant. This finding emerges both in a survey study and in a monetized behavioural decision study. (shrink)

One of the central motifs of G. A. Cohen's work was his opposition to capitalism in the name of justice. This motif was fully in view in Cohen's work on Robert Nozick's libertarianism: Cohen carefully reconstructed and relentlessly criticized Nozick's apologetics of the free market, which, he thought, was internally coherent but unconvincing. This article suggests that Cohen's opposition to libertarianism did not, however, go far enough, and identifies two respects in which Cohen's position could and should have been more (...) critical of that philosophy. (shrink)

Historically, republicans were of different minds about markets: some, such as Rousseau, reviled them, while others, like Adam Smith, praised them. The recent republican resurgence has revived this issue. Classical liberals such as Gerald Gaus contend that neo-republicanism is inherently hostile to markets, while neo-republicans like Richard Dagger and Philip Pettit reject this characterization—though with less enthusiasm than one might expect. I argue here that the right republican attitude toward competitive markets is celebratory rather than acquiescent and that republicanism demands (...) such markets for the same reason it requires the rule of law: because both are essential institutions for protecting individuals from arbitrary interference. I reveal how competition restrains—and in the limit, even eradicates—market power and thereby helps us realize “market freedom,” i.e., freedom as non-domination in the context of economic exchange. Finally, I show that such freedom necessitates “Anglo-Nordic” economic policies. (shrink)

This paper examines G. A. Cohen's final criticism of Ronald Dworkin's theory of equality of resources, which targets its treatment of inequalities that arise when some individuals make luckier choices than others make. Rebutting Cohen's argument that such option luck inequalities fail to be just in an unqualified sense, the paper argues that choice does not merely render inequality legitimate but instead can sometimes make inequality just. It also examines the relationship between Cohen's criticism and the conception of equality developed (...) in his earlier influential paper,. (shrink)

Journal of Economic Methodology, Volume 19, Issue 2, Page 99, June 2012.

This paper argues that, in light of the apparent settled nature of economists’ judgement on the issue of trade liberalization, the profession has stopped thinking critically about the question and, as a consequence, makes poor-quality arguments justifying their consensus. To develop support for this claim, the paper first recounts what economic analysis can say about trade liberalization. Then it analyses the quality of the arguments that economists make in support of free trade. The paper argues that the standard argument made (...) by economists in favour of free trade is either incoherent or implicitly imposes philosophical value judgements about what is good for a nation or society, or it makes leaps of empirical faith about how the world works. The paper concludes with suggestions for better arguments. View HTML Send article to KindleTo send this article to your Kindle, first ensure no-reply@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about sending to your Kindle. Find out more about sending to your Kindle. Note you can select to send to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be sent to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply. Find out more about the Kindle Personal Document Service.DECONSTRUCTING THE ARGUMENT FOR FREE TRADE: A CASE STUDY OF THE ROLE OF ECONOMISTS IN POLICY DEBATESVolume 28, Issue 1Robert Driskill DOI: https://doi.org/10.1017/S0266267112000090Your Kindle email address Please provide your Kindle email.@free.kindle.com@kindle.com Available formats PDF Please select a format to send. By using this service, you agree that you will only keep articles for personal use, and will not openly distribute them via Dropbox, Google Drive or other file sharing services. Please confirm that you accept the terms of use. Cancel Send ×Send article to Dropbox To send this article to your Dropbox account, please select one or more formats and confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about sending content to Dropbox. DECONSTRUCTING THE ARGUMENT FOR FREE TRADE: A CASE STUDY OF THE ROLE OF ECONOMISTS IN POLICY DEBATESVolume 28, Issue 1Robert Driskill DOI: https://doi.org/10.1017/S0266267112000090Available formats PDF Please select a format to send. By using this service, you agree that you will only keep articles for personal use, and will not openly distribute them via Dropbox, Google Drive or other file sharing services. Please confirm that you accept the terms of use. Cancel Send ×Send article to Google Drive To send this article to your Google Drive account, please select one or more formats and confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about sending content to Google Drive. DECONSTRUCTING THE ARGUMENT FOR FREE TRADE: A CASE STUDY OF THE ROLE OF ECONOMISTS IN POLICY DEBATESVolume 28, Issue 1Robert Driskill DOI: https://doi.org/10.1017/S0266267112000090Available formats PDF Please select a format to send. By using this service, you agree that you will only keep articles for personal use, and will not openly distribute them via Dropbox, Google Drive or other file sharing services. Please confirm that you accept the terms of use. Cancel Send ×Export citation Request permission. (shrink)

Book Reviews Iwao Hirose, Economics and Philosophy, FirstView Article.

In his new book The Idea of Justice, Amartya Sen argues that political theory should not consist only in the characterisation of ideal situations of perfect justice. In so doing, Sen is making, within the context of political theory, a similar argument to another he also made in economic theory, when crtiticising what he called the ?rational fool? of mainstream economics. Sen criticised the ideal and fictitious agent of mainstream economics, while advocating for a return to an integrated view of (...) ethics and economics, which characterised many classical political economists who inspired Sen's theory of justice, from Adam Smith to Karl Marx. I will examine Sen's revival of classical political economy, and argue that a revival of classical political economy, which was undertaken earlier by Piero Sraffa, has much potential for bringing a more plural and realist perspective to economics. (shrink)

John Harsanyi and John Rawls both used the veil of ignorance thought experiment to study the problem of choosing between alternative social arrangements. With his ‘impartial observer theorem’, Harsanyi tried to show that the veil of ignorance argument leads inevitably to utilitarianism, an argument criticized by Sen, Weymark and others. A quite different use of the veil-of-ignorance concept is found in evolutionary biology. In the cell-division process called meiosis, in which sexually reproducing organisms produce gametes, the chromosome number is halved; (...) when meiosis is fair, each gene has only a fifty percent chance of making it into any gamete. This creates a Mendelian veil of ignorance, which has the effect of aligning the interests of all the genes in an organism. This paper shows how Harsanyi's version of the veil-of-ignorance argument can shed light on Mendelian genetics. There turns out to be an intriguing biological analogue of the impartial observer theorem that is immune from the Sen/Weymark objections to Harsanyi's original. View HTML Send article to KindleTo send this article to your Kindle, first ensure no-reply@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about sending to your Kindle. Find out more about sending to your Kindle. Note you can select to send to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be sent to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply. Find out more about the Kindle Personal Document Service.SOCIAL JUSTICE, GENOMIC JUSTICE AND THE VEIL OF IGNORANCE: HARSANYI MEETS MENDELVolume 28, Issue 1Samir Okasha DOI: https://doi.org/10.1017/S0266267112000119Your Kindle email address Please provide your Kindle email.@free.kindle.com@kindle.com Available formats PDF Please select a format to send. By using this service, you agree that you will only keep articles for personal use, and will not openly distribute them via Dropbox, Google Drive or other file sharing services. Please confirm that you accept the terms of use. Cancel Send ×Send article to Dropbox To send this article to your Dropbox account, please select one or more formats and confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about sending content to Dropbox. SOCIAL JUSTICE, GENOMIC JUSTICE AND THE VEIL OF IGNORANCE: HARSANYI MEETS MENDELVolume 28, Issue 1Samir Okasha DOI: https://doi.org/10.1017/S0266267112000119Available formats PDF Please select a format to send. By using this service, you agree that you will only keep articles for personal use, and will not openly distribute them via Dropbox, Google Drive or other file sharing services. Please confirm that you accept the terms of use. Cancel Send ×Send article to Google Drive To send this article to your Google Drive account, please select one or more formats and confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about sending content to Google Drive. SOCIAL JUSTICE, GENOMIC JUSTICE AND THE VEIL OF IGNORANCE: HARSANYI MEETS MENDELVolume 28, Issue 1Samir Okasha DOI: https://doi.org/10.1017/S0266267112000119Available formats PDF Please select a format to send. By using this service, you agree that you will only keep articles for personal use, and will not openly distribute them via Dropbox, Google Drive or other file sharing services. Please confirm that you accept the terms of use. Cancel Send ×Export citation Request permission. (shrink)

Journal of Economic Methodology, Volume 19, Issue 2, Page 165-167, June 2012.