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  1. Has everything on Adam Smith been written? A model and a counterargument.Terence Rajivan Edward - manuscript
    I respond to Nuno Palma’s suggestion, made in 2008, that we are approaching the day in which nothing new can be said about Adam Smith. I think that is unlikely. The paper presents a model to support the suggestion. To illustrate my counterargument, I focus on the problem of Adam Smith’s apparently contradictory claims about the effects of the division of labour on character.
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  2. The other economics essay competition: why no Amartya Sen?Terence Rajivan Edward - manuscript
    Amartya Sen has recently told us how he feels he has not yet made his mark as an economist. I notice that he is strangely not named in the background information to an essay competition. It concerns why some nations are wealthy and others poor, names other economists, and even discusses freedom and capabilities. Here I address the question of why Sen is absent and, more generally, at risk of devaluation.
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  3. Hyperintensionality in Epistemic Democracy and Welfare Economics.David Elohim - manuscript
  4. Respect for Subjects in the Ethics of Causal and Interpretive Social Explanation.Michael L. Frazer - forthcoming - American Political Science Review.
    Rival causal and interpretive approaches to explaining social phenomena have important ethical differences. While human actions can be explained as a result of causal mechanisms, as a meaningful choice based on reasons, or as some combination of the two, it is morally important that social scientists respect others by recognizing them as persons. Interpretive explanations directly respect their subjects in this way, while purely causal explanations do not. Yet although causal explanations are not themselves expressions of respect, they can be (...)
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  5. (1 other version)Book Review: Philosophical Foundations of Climate Change Policy, Joseph Heath. Oxford University Press, 2021, viii + 339 pages. [REVIEW]Kian Mintz-Woo - forthcoming - Economics and Philosophy.
    Joseph Heath sometimes plays the role of a gadfly in climate and environmental ethics. He often defends conventional, economics-focused claims which rub many philosophers the wrong way—claims that are at the heart of issues raised in these pages, claims such as that discounting is justifiable, growth is good, or cost-benefit analysis is appropriate in liberal democracies. I think we can all agree that sophisticated defences of conventional positions play an important part in the ecosystem. For philosophers, a gadfly can challenge (...)
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  6. Well-being and Pluralism.Polly Mitchell & Anna Alexandrova - forthcoming - Journal of Happiness Studies.
    It is a commonly expressed sentiment that the science and philosophy of well-being would do well to learn from each other. Typically such calls identify mistakes and bad practices on both sides that would be remedied if scientists picked the right bit of philosophy and philosophers picked the right bit of science. We argue that the differences between philosophers and scientists thinking about well-being are more difficult to reconcile than such calls suggest, and that pluralism is central to this task. (...)
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  7. Desert or dignity? Rethinking injustice in wages.Toby Napoletano - forthcoming - Economics and Philosophy:1-27.
    A common idea, both in ordinary discourse and in the desert literature, is that wages can be deserved. The thought is not only highly intuitive, but it is also often appealed to in order to explain various injustices in employment income – pay gaps, for instance. In this paper, I challenge the idea that income from employment is the kind of thing that can be deserved. I argue that once one gets clear on the metaphysics of jobs and wages within (...)
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  8. The Unchanging Soul of Neoclassical Economics. Lakatosian Perspective on Becker’s Economic Approach.Aleksander Ostapiuk - forthcoming - Panoeconomicus.
    The article aims to show that the paradigm in economics will not change significantly despite descriptive criticism because of axiomatic assumptions. To demonstrate this I analyze Becker's economic approach using Lakatos' methodology of scientific research programmes. I indicate the hard core (instrumental rationality, utility maximization, equilibrium), as well as the protective belt that makes the hard core immune from descriptive criticism. Because of its tautological nature, Becker's approach is considered a degenerative programme. This conclusion is extended to neoclassical economics where (...)
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  9. Values in Science: Assessing the Case for Mixed Claims.Uwe Peters - forthcoming - Inquiry: An Interdisciplinary Journal of Philosophy.
    Social and medical scientists frequently produce empirical generalizations that involve concepts partly defined by value judgments. These generalizations, which have been called ‘mixed claims’, raise interesting questions. Does the presence of them in science imply that science is value-laden? Is the value-ladenness of mixed claims special compared to other kinds of value-ladenness of science? Do we lose epistemically if we reformulate these claims as conditional statements? And if we want to allow mixed claims in science, do we need a new (...)
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  10. Metaphysical Status of Money and Sustainable Organizations and Ecosystems.Tiago Cardao-Pito & Jyldyz Abdyrakhmanova - 2024 - Philosophy of Management 23 (2):1-30.
    The current economic and societal production system gives money a magnified importance, overlooking other essential flows necessary for human survival and existence. It focuses on monetary indicators like profits, dividends, and GDPs to evaluate organizational production, while often disregarding outputs that harm the biosphere. Money is treated as the constitutive being (ousia) and attributed undemonstrated explanatory properties. Intangible flow theory helps eliminate this metaphysical status of money by recognizing that monetary flows are just one of many necessary flows for human (...)
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  11. Economics, Pluralism and Democracy: An Interview with Ha-Joon Chang.Ha-Joon Chang & Teemu Lari - 2024 - Erasmus Journal for Philosophy and Economics 17 (2):201–238.
    Ha-Joon Chang, Research Professor of Economics at SOAS University of London, is a vocal advocate of pluralism in economics. He has also campaigned for public understanding of economics and cautioned against an excessive role of economists in policymaking. In this comprehensive interview, Chang talks about his views on economics, pluralism, the role of economists in democracy, as well as his formative years as an economics student. The interview concludes with Chang's advice for young scholars - both economists interested in non-mainstream (...)
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  12. Preferences versus opportunities: on the conceptual foundations of normative welfare economics.Roberto Fumagalli - 2024 - Economics and Philosophy 40 (1):77-101.
    Normative welfare economics commonly assumes that individuals’ preferences can be reliably inferred from their choices and relies on preference satisfaction as the normative standard for welfare. In recent years, several authors have criticized welfare economists’ reliance on preference satisfaction as the normative standard for welfare and have advocated grounding normative welfare economics on opportunities rather than preferences. In this paper, I argue that although preference-based approaches to normative welfare economics face significant conceptual and practical challenges, opportunity-based approaches fail to provide (...)
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  13. Diversity for the Common Good? Philosophical Inquiries into Pluralism in Economics.Teemu Lari - 2024 - Dissertation, University of Helsinki
    This dissertation examines the recent demands for diversifying economics, often advanced under the rubric of pluralism. The dissertation aims at illuminating questions that are foundational to this debate and thereby promoting the resolution of the disagreements. The focus is on the question of whether economics should be open to a wide range of methodological approaches, theoretical frameworks, schools of thought, and so on, in a way that would make the current relatively uniform mainstream approach to economics one among others. The (...)
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  14. What counts as relevant criticism? Longino's critical contextual empiricism and the feminist criticism of mainstream economics.Teemu Lari - 2024 - Studies in History and Philosophy of Science 104:88-97.
    I identify and resolve an internal tension in Critical Contextual Empiricism (CCE) – the normative account of science developed by Helen Longino. CCE includes two seemingly conflicting principles: on one hand, the cognitive goals of epistemic communities should be open to critical discussion (the openness of goals to criticism principle, OGC); on the other hand, criticism must be aligned with the cognitive goals of that community to count as “relevant” and thus require a response (the goal-relativity of response-requiring criticism principle, (...)
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  15. Libertarian paternalism and the capability approach. Friends or foes?Aleksander Ostapiuk - 2024 - Ekonomista 2024 (4):256-482.
    This paper compares the capability approach (CA) and libertarian paternalism (LP) to see whether they are compatible. The comparison focuses on rationality, wellbeing, and freedom. The main theoretical framework is Sen’s ‘reason to value’ (RtV). The relevance of this to CA, and LP is analysed, and whether the primacy that CA and LP both accord to reason leads to paternalism is examined. Although the principal focus is on Sen’s, Sunstein’s and Thaler’s original ideas, their key concepts are analysed in the (...)
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  16. Poverty Relief as a Rule-Based Discovery Procedure: Is Universal Basic Income Compatible with a Hayekian Welfare State?Otto Lehto - 2023 - In Alicja Sielska, Transition economies in Central and Eastern Europe: Austrian perspectives. London: Routledge. pp. 140-154.
    What does effective poverty relief entail? How are we to assess the capacity of advanced industrialized societies to solve the problem of poverty? What role, if any, is left for the welfare state? This chapter argues that poverty relief, far from being primarily a matter of post hoc redistribution, primarily consists in a Hayekian-Schumpeterian discovery (or innovation) procedure whereby the problems of the poor are continuously discovered, identified, and eventually solved from the bottom up. This suggests new avenues for reform. (...)
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  17. Transition economies in Central and Eastern Europe: Austrian perspectives.Alicja Sielska (ed.) - 2023 - London: Routledge.
    The theory of interventionism of the Austrian School of Economics explains the successes and failures of the transformation processes in Central and Eastern European countries and offers a deep insight into contemporary economic phenomena. Three decades have passed since the collapse of communism that precipitated the economic transformation of these countries. This book describes the Austrian view of socialism and in such a context explains the transformational success of the countries of Central and Eastern Europe. Moreover, it shows that the (...)
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  18. The Difference-to-Inference Model for Values in Science.Jacob Stegenga & Tarun Menon - 2023 - Res Philosophica 100 (4):423-447.
    The value-free ideal for science holds that values should not influence the core features of scientific reasoning. We defend the difference-to-inference model of value-permeation, which holds that value-permeation in science is problematic when values make a difference to the inferences made about a hypothesis. This view of value-permeation is superior to existing views, and it suggests a corresponding maxim—namely, that scientists should strive to eliminate differences to inference. This maxim is the basis of a novel value-free ideal for science. -/- (...)
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  19. The Economics of Academic "Values".Ryan Wasser - 2023 - Human Arenas.
    At first blush, values such as diversity appear to be worth striving for. The question is whether or not such values—which have become increasingly prevalent in university mission statements—are values as such, which is to ask whether they are things of moral worth (Value, n.d.), or are something else altogether. My unpopular suspicion leans toward the latter. Personal opinions, of course, are hardly a justification for an impassioned critique, however, my opinions mirror those held by moderate and conservative witnesses to (...)
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  20. Causal bias in measures of inequality of opportunity.Lennart B. Ackermans - 2022 - Synthese 200 (6):1-31.
    In recent decades, economists have developed methods for measuring the country-wide level of inequality of opportunity. The most popular method, called the ex-ante method, uses data on the distribution of outcomes stratified by groups of individuals with the same circumstances, in order to estimate the part of outcome inequality that is due to these circumstances. I argue that these methods are potentially biased, both upwards and downwards, and that the unknown size of this bias could be large. To argue that (...)
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  21. Investigating the Experience of Scholastic Theology in Confrontation with Economic Phenomena: Approaches to Just Price Theory.Mohammadhosein Bahmanpour-Khalesi - 2022 - پژوهشنامه فلسفه دین 20 (1):65-72.
    Scholastics were a group of Christian theologians mainly active in Europe during the 12th to 17th centuries. One of the notable teachings in scholastic literature is the theory of just price, which can be considered one of the most frequent theories in the history of economic ideas. This study tries to reassess the theory of just price in the economic thought of scholastic thinkers by referring to classical scholastic texts, through which it examines the general experiences of scholastic theology in (...)
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  22. The Sharing Economy in Europe: Developments, Practices, and Contradictions.Vida Česnuitytė, Andrzej Klimczuk, Cristina Miguel & Gabriela Avram (eds.) - 2022 - Cham: Palgrave Macmillan.
    This open access book considers the development of the sharing and collaborative economy with a European focus, mapping across economic sectors, and country-specific case studies. It looks at the roles the sharing economy plays in sharing and redistribution of goods and services across the population in order to maximise their functionality, monetary exchange, and other aspects important to societies. It also looks at the place of the sharing economy among various policies and how the contexts of public policies, legislation, digital (...)
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  23. A Reformed Division of Labor for the Science of Well-Being.Roberto Fumagalli - 2022 - Philosophy 97 (4):509-543.
    This paper provides a philosophical assessment of leading theory-based, evidence-based and coherentist approaches to the definition and the measurement of well-being. It then builds on this assessment to articulate a reformed division of labor for the science of well-being and argues that this reformed division of labor can improve on the proffered approaches by combining the most plausible tenets of theory-based approaches with the most plausible tenets of coherentist approaches. This result does not per se exclude the possibility that theory-based (...)
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  24. Model for ensuring business excellence on the basis of management innovation.Igor Kryvovyazyuk - 2022 - Economic Forum 1 (2):112-119.
    The problem of building an effective system of interconnected and purposeful innovative changes in business management is solved in the article. The main purpose of the research is to improve the model of business excellence on the basis of interconnected and purposeful innovative changes in business management. Critical analysis of literature sources and approaches to solving the problem of building a perfect model of business emphasizes the diversity of applied methodological approaches and methods of management innovation. However, in terms of (...)
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  25. Can welfare economics avoid paternalism after the behavioural turn?Johanna Thoma - 2022 - LSE Business Review.
  26. Capital and Ideology, Thomas Piketty. Translated by Arthur Goldhammer. Harvard University Press, 2020, pp. ix + 1093.Elizabeth Anderson - 2021 - Economics and Philosophy 37 (1):150-156.
  27. Normes et normativité en économie.Antoinette Baujard, Judith Favereau & Charles Girard - 2021 - Revue de Philosophie Économique 21 (1):3-18.
    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, (...)
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  28. Economics and Ethics.Geoffrey Brennan & Daniel Moseley - 2021 - In Hugh LaFollette, International Encyclopedia of Ethics. Hoboken, NJ: Wiley.
    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.
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  29. The option value of life.Susanne Burri - 2021 - Economics and Philosophy 37 (1):118-138.
    This paper argues that under conditions of uncertainty, there is frequently a positive option value to staying alive when compared to the alternative of dying right away. This value can make it prudentially rational for you to stay alive even if it appears highly unlikely that you have a bright future ahead of you. Drawing on the real options approach to investment analysis, the paper explores the conditions under which there is a positive option value to staying alive, and it (...)
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  30. Measuring Poverty Around the World, Anthony B. Atkinson. Princeton University Press, 2019, xxvii + 464 pages. [REVIEW]Lucio Esposito & Blanca Zuluaga - 2021 - Economics and Philosophy 37 (1):156-161.
  31. Co-production and economics: insights from the constructive use of experimental games in adaptive resource management.Michiru Nagatsu - 2021 - Journal of Economic Methodology 28 (1):134-142.
    I envision new directions in the methodology of experimental games in the field of developmental, environmental and resource economics. Although there have been extensive discussions on experimenta...
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  32. Democratic Values: A Better Foundation for Public Trust in Science.S. Andrew Schroeder - 2021 - British Journal for the Philosophy of Science 72 (2):545-562.
    There is a growing consensus among philosophers of science that core parts of the scientific process involve non-epistemic values. This undermines the traditional foundation for public trust in science. In this article I consider two proposals for justifying public trust in value-laden science. According to the first, scientists can promote trust by being transparent about their value choices. On the second, trust requires that the values of a scientist align with the values of an individual member of the public. I (...)
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  33. Reciprocity and the Art of Behavioural Public Policy, Adam Oliver. Cambridge University Press, 2019, xvii + 194 pages. - Escaping Paternalism: Rationality, Behavioural Economics and Public Policy, Mario J. Rizzo and Glen Whitman. Cambridge University Press, 2020, xii + 496 pages. [REVIEW]Robert Sugden - 2021 - Economics and Philosophy 37 (1):139-144.
  34. Technology, society, and performativity: on a new book by Nicolas Brisset.Ivan Boldyrev - 2020 - Journal of Economic Methodology 27 (3):269-273.
    In a decisive episode of Quentin Tarantino’s Django Unchained a former slave, Django Freeman, and his patron Dr. Schultz finally manage to buy Broomhilda, Django’s wife, and thus to free her from t...
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  35. BLOG: Which Option is Best for Me? A Values-Based Proposal for Behavioral Economists.C. Tyler DesRoches - 2020 - Justice Everywhere: A Blog About Philosophy in Public Affairs.
  36. Measuring the Global Burden of Disease: Philosophical Dimensions.Nir Eyal, Samia A. Hurst, Christopher J. L. Murray, S. Andrew Schroeder & Daniel Wikler (eds.) - 2020 - New York, USA: Oup Usa.
    The Global Burden of Disease Study is one of the largest-scale research collaborations in global health, producing critical data for researchers, policy-makers, and health workers about more than 350 diseases, injuries, and risk factors. Such an undertaking is, of course, extremely complex from an empirical perspective. But it also raises complex ethical and philosophical questions. In this volume, a group of leading philosophers, economists, epidemiologists, and policy scholars identify and discuss these philosophical questions. Better appreciating the philosophical dimensions of a (...)
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  37. Self-Control, Decision Theory, and Rationality – New Essays.James D. Grayot - 2020 - Journal of Economic Methodology 27 (2):184-189.
    Volume 27, Issue 2, June 2020, Page 184-189.
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  38. Crashed: How a decade of financial crises changed the world. Adam Tooze. New York, Viking, 2018.Emmanuel Guerisoli - 2020 - Constellations 27 (1):158-160.
  39. Mathematical Analysis as a Source of Mainstream Economic Ideology.Vlassis Missos - 2020 - Economic Thought 9 (1):72.
    The paper contends that neoclassical ideology stems, to a great extent, from mathematical analysis. It is suggested that mainstream economic thought can be comprehensively revisited if both histories of mathematical and economic thought are to be taken collaboratively into account. Ideology is understood as a 'social construction of reality' that prevents us from evaluating our own standpoint, and impedes us from realising our value judgments as well as our theories of society and nature. However, the mid-19th century's intellectual controversies about (...)
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  40. Value-free paradise is lost. Economists could learn from artists.Aleksander Ostapiuk - 2020 - Annales. Ethics in Economic Life 23 (4):7-33.
    Despite the conclusions from the contemporary philosophy of science, many economists cherish the ideal of positive science. Therefore, value-free economics is still the central paradigm in economics. The first aim of the paper is to investigate economics' axiomatic assumptions from an epistemological perspective. The critical analysis of the literature shows that the positive-normative dichotomy is exaggerated. Moreover, value-free economics is based on normative foundations that have a negative impact on individuals and society. The paper's second aim is to show that (...)
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  41. The Eclipse of Value-Free Economics. The concept of multiple self versus homo economicus.Aleksander Ostapiuk - 2020 - Wrocław, Polska: Publishing House of Wroclaw University of Economics and Business.
    The books’ goal is to answer the question: Do the weaknesses of value-free economics imply the need for a paradigm shift? The author synthesizes criticisms from different perspectives (descriptive and methodological). Special attention is paid to choices over time, because in this area value-free economics has the most problems. In that context, the enriched concept of multiple self is proposed and investigated. However, it is not enough to present the criticisms towards value-free economics. For scientists, a bad paradigm is better (...)
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  42. What Is Economic Liberty?Tom O’Shea - 2020 - Philosophical Topics 48 (2):203-222.
    Economic liberty is best understood in opposition to economic domination. This article develops a radical republican conception of such domination. In particular, I argue that radical republicanism provides a more satisfactory account of individual economic freedom than the market-friendly liberties of working, transacting, holding, and using championed by Nickel and Tomasi. So too, it avoids the pitfalls of other conceptions of economic liberty which emphasize real freedom, alternatives to immiserating work, or unalienated labor. The resulting theory holds that economic domination (...)
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  43. Economics' Wisdom Deficit and How to Reduce It.John F. Tomer - 2020 - Economic Thought 9 (2):24.
    As is well understood, the values inherent in the dominant neoclassical economic paradigm are self- interest and optimisation. These are the values that guide individuals and policymakers in advanced capitalist economies in their economic decision making. As a consequence, the economics discipline, arguably, is insufficiently oriented to helping people and organisations make wise choices, choices about what is really and truly in people's best interests. In other words, there is strong reason to believe that economics has a wisdom deficit. This (...)
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  44. Epistemic and non-epistemic values in economic evaluations of public health.Alessandra Cenci & M. Azhar Hussain - 2019 - Journal of Economic Methodology 27 (1):66-88.
    We review methods for economic evaluation recently developed in health economics by focusing on the epistemic and non-epistemic values they embody. The emphasis is on insights into valuing health,...
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  45. The Social Cost of Carbon: Valuing Inequality, Risk, and Population for Climate Policy.Marc Fleurbaey, Maddalena Ferranna, Mark Budolfson, Francis Dennig, Kian Mintz-Woo, Robert Socolow, Dean Spears & Stéphane Zuber - 2019 - The Monist 102 (1):84-109.
    We analyze the role of ethical values in the determination of the social cost of carbon, arguing that the familiar debate about discounting is too narrow. Other ethical issues are equally important to computing the social cost of carbon, and we highlight inequality, risk, and population ethics. Although the usual approach, in the economics of cost-benefit analysis for climate policy, is confined to a utilitarian axiology, the methodology of the social cost of carbon is rather flexible and can be expanded (...)
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  46. Ethics of the scientist qua policy advisor: inductive risk, uncertainty, and catastrophe in climate economics.David M. Frank - 2019 - Synthese:3123-3138.
    This paper discusses ethical issues surrounding Integrated Assessment Models (IAMs) of the economic effects of climate change, and how climate economists acting as policy advisors ought to represent the uncertain possibility of catastrophe. Some climate economists, especially Martin Weitzman, have argued for a precautionary approach where avoiding catastrophe should structure climate economists’ welfare analysis. This paper details ethical arguments that justify this approach, showing how Weitzman’s “fat tail” probabilities of climate catastrophe pose ethical problems for widely used IAMs. The main (...)
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  47. Hierarchical Inconsistencies: A Critical Assessment of Justification.Juozas Kasputis - 2019 - Economic Thought 8 (2):1-12.
    The existential insecurity of human beings has induced them to create protective spheres of symbols: myths, religions, values, belief systems, theories, etc. Rationality is one of the key factors contributing to the construction of civilisation in technical and symbolic terms. As Hankiss (2001) has emphasised, protective spheres of symbols may collapse – thus causing a profound social crisis. Social and political transformations had a tremendous impact at the end of the 20th century. As a result, management theories have been revised (...)
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  48. Evidence-Based Policy: The Tension Between the Epistemic and the Normative.Donal Khosrowi & Julian Reiss - 2019 - Critical Review: A Journal of Politics and Society 31 (2):179-197.
    Acceding to the demand that public policy should be based on “the best available evidence” can come at significant moral cost. Important policy questions cannot be addressed using “the best available evidence” as defined by the evidence-based policy paradigm; the paradigm can change the meaning of questions so that they can be addressed using the preferred kind of evidence; and important evidence that does not meet the standard defined by the paradigm can get ignored. We illustrate these problems in three (...)
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  49. The normative decision theory in economics: a philosophy of science perspective. The case of the expected utility theory.Magdalena Małecka - 2019 - Journal of Economic Methodology 27 (1):36-50.
    This article analyses how normative decision theory is understood by economists. The paradigmatic example of normative decision theory, discussed in the article, is the expected utility theory. It...
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  50. The Ideological Matrix of Science: Natural Selection and Immunity as Case Studies.Agustin Ostachuk - 2019 - Cosmos and History: The Journal of Natural and Social Philosophy 15 (1):182-213.
    The modern concept of ideology was established by the liberal politician and philosopher Destutt de Tracy, with the objective of creating an all-embracing and general science of ideas, which followed the sensualist and empiricist trend initiated by Locke that culminated in the positivism of Comte. Natural selection and immunity are two key concepts in the history of biology that were strongly based on the Malthusian concept of struggle for existence. This concept wrongly assumed that population grew faster than the means (...)
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