The axiological question of the role of economic values in the configuration of science is analyzed here following several steps: 1) the acceptance of the presence of values in science (among them, economic values in connection with scientific progress); 2) the clarification of the realms of values in science, which gives room for an "economics of science"; 3) the analysis of economic values in the internal perspective (cognitive and methodological), which is called "economy of research"; 4) the (...) examination of external economic values of science as social activity and in the uses and applications of science; and 5) the assessment of the possibility of an "economic axiology of science" (i.e., the articulation of economic values as a system where economic dimension of rationality should have an important task). The paper seeks an alternative vision to those already available, insofar as it is looking for new aspects of economic values, such as those involved in scientific results or outcomes, in addition to those considered in scientific aims and processes. (shrink)

Economic value additions to knowledge and demand provide practical, embedded and extensible meaning to philosophizing cognitive systems. Evaluation of a cognitive system is an empirical matter. Thinking of science in terms of distributed cognition (interactionism) enlarges the domain of cognition. Anything that actually contributes to the specific quality of output of a cognitive system is part of the system in time and/or space. Cognitive science studies behaviour and knowledge structures of experts and categorized structures based on underlying structures. (...) Knowledge representation through understanding of ‘epistemic cultures’ is an evolutionary stage. But cognition goes beyond knowledge representation. Notwithstanding the importance of epistemology of phenomena, the practicability cum philosophical aspects of machine learning needs to be seen in dynamic behaviour in socio-economic-technical value additions if human machine interaction processes that are context specific are incorporated into strong artificial intelligent systems. Cognitive Science is also studied from both computational and biological angles. Evolution of interactive forms of reasoning through understanding of meta-language of computations or biological learning processes is possible. But the limitation of historical cultures predefines the role of interactive processes in user-networks beyond technology networks. Despite this limitation, inclusive development notions of a heterogeneous national society such as India or Europe can be tested and incorporated. (shrink)

In the last decade, Australian federal and state governments’ commitment to the economic rationalist imperatives of performance measures, accountability for outcomes, and value-for-money has driven significant change in the Australian not-for-profit community services sector. In an environment shaped by neoliberal-inspired government policies and a renewed government commitment to austerity, Australian not-for-profit community service organizations are now, more than ever, actively engaged in a variety of income-generating strategies to achieve and/or maintain economic sustainability. Central to this process is (...) meeting the dual challenge of succeeding financially in a competitive environment and simultaneously serving mission. In this context, it is time to more closely examine the impact of these challenges, in particular the implications for the organizational values of not-for-profit community service providers themselves. This paper reports on a qualitative study of fourteen not-for-profit community service organizations, their core purposes, and their strategies for economic sustainability. In addition to the new data presented here, this paper contributes to the broader theoretical framework—the lens of value pluralism, which, we argue, provides a sharper focus on the relationship between mission and margin. (shrink)

Economic environmental valuation remains a much debated and contested issue. Concerns have been voiced that it is unable to capture the manifold immaterial values of ecosystems due to conceptual and methodological issues. Thus, additional value categories (social values) as well as novel valuation approaches like deliberative (monetary) valuation are areas of growing interest, yet the theoretical foundations are rather weak. Against this background, this article aims to develop a consistent conceptual framework for making sense of social values in (...) economic environmental valuation. Based on a holistic view of society and individuals, the role of institutions, the social environment, culture and transcendental values is emphasised. To synthesise diverging concepts of value into an economic concept and to account for the multidimensionality of social values, the framework consists of three spheres: social, natural and contextual. The novel framework demonstrates that social values may be integrated into a preference-based utility framework when denoting a holistic understanding of social preferences and human embeddedness in nature and society. (shrink)

This article aims to measure both the economic and social value of Tecnocampus, a Science and Technology Park in its region of influence. Our results show that the impact of Tecnocampus has a socioeconomic cost–benefit ratio of 2.39. Measuring the impact of this multifaceted centre requires a diverse approach. Although the methods used are not new, the combination of them presents a novel approach to measure the impact of an institution of this nature. We have measured the (...) class='Hi'>economic value with the Input–Output model, including the Social Accounting Matrix. On the other hand, for social value calculations, we have used cost–benefit analysis adding measurements of firm localisation to estimate externality effects. Our main results present an economic value of more than 0.054% of the Catalan GDP, whereas the employment impact represents almost 0.37% of total employment in the region. The total economic multiplier of Tecnocampus activity is estimated to be 1.89. Social value generates an additional 0.50 euros to the multiplier according with our analysis. This additional social value represents an increase of productivity estimated in 20 million euros of operational income for Catalan firms and the creation of seven additional firms in the Maresme region as a result of knowledge spillovers. The social value also includes reduction of over-education caused by a better matching between graduates and enterprises, a more direct application of research, and an increase in consumer surplus. Finally, we discuss the policy implications of our findings to promote investments in this kind of infrastructures. (shrink)

The study's overarching purpose was to investigate the impact of strategic HR outsourcing on organizational sustainability. This study also attempted to evaluate the function of organizational capabilities and HR proficiency as a mediator in the relationship between strategic HR outsourcing and organizational sustainability. Data was collected from 400 HR professionals in China using a questionnaire technique. The Smart-PLS software and a structural equation modeling technique were used to evaluate the data. Organizational sustainability was found to be insignificantly related to strategic (...) HR outsourcing. Furthermore, organizational capabilities and HR proficiency were discovered to mediate the association between strategic HR outsourcing and organizational sustainability. By analyzing the impact of strategic HR outsourcing on organizational sustainability, this paper provided an important theoretical contribution. In terms of practical applications, this article would surely help HR professionals to maintain and develop policies to encourage employees to be engaged and perform well. Furthermore, this study might be effective in resolving difficulties linked to organizational sustainability. The small sample size of this study, which included solely HR professionals working in Chinese firms, was one of its limitations. In addition, future studies can incorporate other constructs to acquire a deeper knowledge of the factors that influence employee health. (shrink)

Economics takes an individualistic approach to human behaviour. This is reflected in the use of 'contingent valuation' surveys to conduct cost benefit analysis for economic policy evaluation. An individual's valuation of a policy is assumed to be unaffected by the burdens it places on others. We report a survey experiment to test this supposition in the context of climate change policy. Willingness to pay for climate change mitigation was higher when richer individuals were to bear higher costs than when, (...) as is usual, no explicit information was provided about cost distribution. This result is inconsistent with the usual interpretation of contingent valuation data. It also suggests that the data may be biased indicators of policy acceptance. Additional survey questions suggest that a collective mode of reasoning is common. (shrink)

The economic pastoral letter states that employees have rights to employment, non-discriminatory treatment, adequate wages, health care, old age and disability insurance, healthy working conditions, rest and holidays, reasonable protection from arbitrary dismissal, notice of plant closings, unionization and collective bargaining. In addition, the bishops call for better cooperation between labor and management. This paper discusses how these rights can be protected by good personnel/human resource policies and procedures.

First published in 1986 and reprinted in 2010 in the Routledge Revivals series, this book presents the first detailed confrontation between the Austrian school of economics and Austrian philosophy, especially the philosophy of the Brentano school. It contains a study of the roots of Austrian economics in the liberal political theory of the nineteenth-century Hapsburg empire, and a study of the relations between the general theory of value underlying Austrian economics and the new economic approach to human behaviour (...) propounded by Gary Becker and others in Chicago. In addition, it considers the connections between Austrian methodology and contemporary debates in the philosophy of the social sciences. (shrink)

While robots were traditionally built to achieve economic efficiency and financial profits, their roles are likely to change in the future with the aim to provide social support and companionship. In this research, we examined whether the robot’s proposed function (social vs. economic) impacts judgments of mind and moral treatment. Studies 1a and 1b demonstrated that robots with social function were perceived to possess greater ability for emotional experience, but not cognition, compared to those with economic function (...) and whose function was not mentioned explicitly. Study 2 replicated this finding and further showed that low economic value reduced ascriptions of cognitive capacity, whereas high social value resulted in increased emotion perception. In Study 3, robots with high social value were more likely to be afforded protection from harm, and such effect was related to levels of ascribed emotional experience. Together, the findings demonstrate a dissociation between function type (social vs. economic) and ascribed mind (emotion vs. cognition). In addition, the two types of functions exert asymmetric influences on the moral treatment of robots. Theoretical and practical implications for the field of social psychology and human-computer interaction are discussed. (shrink)

Socially responsible business and ethical behaviour of companies have been of interest to academia and practice for decades. But the focus has almost exclusively been on large corporations while small- and medium-sized enterprises (SME) have not received as much attention. Thus, this paper focuses on socially responsible business practices of SME entrepreneurs or owner–managers in Germany. Based on the assumption that decision-makers in SMEs are the central point where all business activities start, members of a German entrepreneurs association were approached (...) in the course of a qualitative and quantitative survey. They were asked to assess in what way their social responsibility is expressed in specific management practices towards selected stakeholder groups. These practices in turn were assumed to result in perceived positive reactions of the respective stakeholders and subsequently to positively influence the firm's financial performance, i.e. cost reductions and increase in profits. In the paper, a research model is presented that elaborates the relationship between an SME executive's social responsibility and the value creation of a firm, i.e. whether (personal) values create (economic) value. It was found that socially responsible management practices towards employees, customers and to a lesser extent society have a positive impact on the firm and its performance. As such, values can create additional value. (shrink)

Socially responsible business and ethical behaviour of companies have been of interest to academia and practice for decades. But the focus has almost exclusively been on large corporations while small- and medium-sized enterprises (SME) have not received as much attention. Thus, this paper focuses on socially responsible business practices of SME entrepreneurs or owner–managers in Germany. Based on the assumption that decision-makers in SMEs are the central point where all business activities start, members of a German entrepreneurs association were approached (...) in the course of a qualitative and quantitative survey. They were asked to assess in what way their social responsibility is expressed in specific management practices towards selected stakeholder groups. These practices in turn were assumed to result in perceived positive reactions of the respective stakeholders and subsequently to positively influence the firm's financial performance, i.e. cost reductions and increase in profits. In the paper, a research model is presented that elaborates the relationship between an SME executive's social responsibility and the value creation of a firm, i.e. whether (personal) values create (economic) value. It was found that socially responsible management practices towards employees, customers and to a lesser extent society have a positive impact on the firm and its performance. As such, values can create additional value. (shrink)

Incommensurability is the impossibility to determine how two options relate to each other in terms of conventional comparative relations. This book features new research on incommensurability from philosophers who have shaped the field into what it is today, including John Broome, Ruth Chang and Wlodek Rabinowicz. The book covers four aspects relating to incommensurability. In the first part, the contributors synthesize research on the competing views of how to best explain incommensurability. Part II illustrates how incommensurability can help us deal (...) with seemingly insurmountable problems in ethical theory and population ethics. The contributors address the Repugnant Conclusion, the Mere Addition Paradox and so-called Spectrum Arguments. The chapters in Part III outline and summarize problems caused by incommensurability for decision theory. Finally, Part IV tackles topics related to risk, uncertainty and incommensurability. Value Incommensurability: Ethics, Risk, and Decision-Making will be of interest to researchers and advanced students working in ethical theory, decision theory, action theory, and philosophy of economics. (shrink)

This paper deals with the equilibria of games when the agents have multiple objectives and, therefore, their utilities cannot be represented by a single value, but by a vector containing the various dimensions of the utility. Our approach allows the incorporation of partial information about the preferences of the agents into the model, and permits the identification of the set of equilibria in accordance with this information. We also propose an additional conservative criterion which can be applied in this (...) framework in order to predict the results of interaction. The potential application of the theoretical results is shown with an analysis of a mixed oligopoly in which the agents value additional objectives other than their own benefit. These objectives are related to social welfare and to the profit of the industry. The flexibility of our approach provides a general theoretical framework for the analysis of a wide range of strategic economic models. (shrink)

In this paper I explore the relationship between the production and the value of Big Data. In particular I examine the concept of social media ‘prosumption’—which has predominantly been theorized from a Marxist, political economic perspective—to consider what other forms of value Big Data have, imbricated with their often speculative economic value. I take the example of social media firms in their early stages of operation to suggest that, since these firms do not necessarily generate (...) revenue, data collected through user contributions do not always realize economic value, at least in a Marxist sense, and that, in addition to their speculative value, these data have value beyond an economic valence. Instead I argue that in addition to their function as systems for accumulation, social media and their associated data have an affective value, related closely to their economic value, and demonstrate the efficacy of social media as systems designed for the appropriation and circulation of user attention. (shrink)

Corporate activities conducted under the banner of creating shared value (CSV) have gained popularity over the last decade, and some MNCs have espoused that CSV has entered the heart of their practices. There has, however, been criticism about the lack of a standard definition of CSV. The purpose of the current study was to develop a working definition of CSV by identifying distinctions between CSV and various conceptions of corporate social responsibility (CSR). We conducted 26 semi-structured interviews with managers (...) and stakeholder representatives of five multinational corporations (MNCs) and three small and medium enterprises (SMEs), all headquartered or rooted in Asia. These firms had received public recognition for their CSV engagement. We compared and contrasted interviewees’ conceptions and descriptions of CSV and traditional CSR (philanthropy) and mapped these against Carroll’s four-layer model of responsible corporate management. Interviewees tended to frame CSV as a sustainable business model that generates social and economic value simultaneously. Traditional CSR was characterized as “giving back” some of the surplus from economic returns. In addition, interviewees described examples of strategic CSR, which involved pump-priming interventions for empowering and enabling stakeholders of the CSV practices of the focal firm to participate in the associated wealth and well-being co-creation. Keywords: Corporate social responsibility, creating shared value, qualitative, Asia. (shrink)

The objective of this paper is to outline challenges associated with the inclusion of welfare issues in breeding goals for farm animals and to review the currently available methodologies and discuss their potential advantages and limitations to address these challenges. The methodology for weighing production traits with respect to cost efficiency and market prices are well developed and implemented in animal breeding goals. However, these methods are inadequate in terms of assessing proper values of traits with social and ethical values (...) such as animal welfare, because such values are unlikely to be readily available from the product prices and costs in the market. Defining breeding goals that take animal welfare and ethical concerns into account, therefore, requires new approaches. In this paper we suggest a framework and an approach for defining breeding goals, including animal welfare. The definition of breeding goals including values related to animal welfare requires a multidisciplinary approach with a combination of different methods such as profit equations, stated preference techniques, and selection index theory. In addition, a participatory approach involving different stakeholders such as breeding organizations, food authorities, farmers, and animal welfare organizations should be applied. We conclude that even though these methods provide the necessary tools for considering welfare issues in the breeding goal, the practical application of these methods is yet to be achieved. (shrink)

This paper addresses the issue of finite versus countable additivity in Bayesian probability and decision theory -- in particular, Savage's theory of subjective expected utility and personal probability. I show that Savage's reason for not requiring countable additivity in his theory is inconclusive. The assessment leads to an analysis of various highly idealised assumptions commonly adopted in Bayesian theory, where I argue that a healthy dose of, what I call, conceptual realism is often helpful in understanding the interpretational value (...) of sophisticated mathematical structures employed in applied sciences like decision theory. In the last part, I introduce countable additivity into Savage's theory and explore some technical properties in relation to other axioms of the system. (shrink)

A principal aim of the branch of ethics called ‘population theory’ or ‘population ethics’ is to find a plausible welfarist axiology, capable of comparing total outcomes with respect to value. This has proved an exceedingly difficult task. In this paper I shall state and discuss two ‘trilemmas’, or choices between three unappealing alternatives, which the population ethicist must face. The first trilemma is not new. It originates with Derek Parfit's well-known ‘Mere Addition Paradox’, and was first explicitly stated (...) by Yew-Kwang Ng. I shall argue that one horn of this trilemma is less unattractive than Parfit and others have claimed. The second trilemma, which is a kind of mirror image of the first, appears hitherto to have gone unnoticed. Apart from attempting to resolve the two trilemmas, I shall suggest certain features which I believe a plausible welfarist axiology should possess. The details of this projected axiology will, however, be left open. (shrink)

We examine a general class of variable-value population principles. Our particular focus is on the extent to which such principles can avoid the repugnant and sadistic conclusions. We show that if a mild limit property is imposed, avoidance of the repugnant conclusion implies the sadistic conclusion. This result generalizes earlier observations by showing that they apply to a substantially larger class of principles. Our second theorem states that, under the limit property, the axiom of mere addition also conflicts (...) with avoidance of the repugnant conclusion. This result is a consequence of a similar observation that appears in the earlier literature. (shrink)

The ethical value of intelligence lies in its crucial role in safeguarding individuals from harm by detecting, locating, and preventing threats. As part of this undertaking, intelligence can include protecting the economic well-being of the political community and its people. Intelligence, however, also entails causing people harm when it violates their vital interests through its operations. The challenge, therefore, is how to reconcile this tension, which Cécile Fabre's recent book Spying through a Glass Darkly does by arguing for (...) the “ongoing and preemptive imposition of defensive harm.” Fabre applies this underlying argument to the specifics of economic espionage to argue that while states, businesses, and individuals do have a general right over their information that prevents others from accessing it, such protections can be forfeited or overridden when there is a potential threat to the fundamental rights of third parties. This essay argues, however, that Fabre's discussion on economic espionage overlooks important additional proportionality and discrimination concerns that need to be accounted for. In addition to the privacy violations it causes, economic espionage can cause harms to people's other vital interests, including their physical and mental well-being and autonomy. Given the complex way in which the economy interlinks with people's lives and society, harms to one economic actor will have repercussions on those secondary economic entities dependent on them, such as workers, buyers, and investors. This, in turn, can produce further harms on other economic actors, causing damages to ripple outward across society. (shrink)

Organizations such as the EU High-Level Expert Group on AI and the IEEE have recently formulated ethical principles and (moral) values that should be adhered to in the design and deployment of artificial intelligence (AI). These include respect for autonomy, non-maleficence, fairness, transparency, explainability, and accountability. But how can we ensure and verify that an AI system actually respects these values? To help answer this question, I propose an account for determining when an AI system can be said to embody (...) certain values. This account understands embodied values as the result of design activities intended to embed those values in such systems. AI systems are here understood as a special kind of sociotechnical system that, like traditional sociotechnical systems, are composed of technical artifacts, human agents, and institutions but—in addition—contain artificial agents and certain technical norms that regulate interactions between artificial agents and other elements of the system. The specific challenges and opportunities of embedding values in AI systems are discussed, and some lessons for better embedding values in AI systems are drawn. (shrink)

The trend in environmental management toward more adaptive, community-based, and holistic approaches will require new approaches to environmental valuation. In this paper, we offer a new valuation approach, one that embodies the core principles of adaptive management, which is experimental, multi-scalar, and place-based. In addition, we use hierarchy theory to incorporate spatial and temporal variability of natural systems into a multi-scalar management model. Our approach results in the consideration of multiple values within community-based ecosystem management, rather than an attempt (...) to maximise a single variable such as economic efficiency. We then offer two heuristics – one procedural and one evaluative – to guide a community toward shared goals, and to develop indicators to measure progress toward these goals. We illustrate our approach by application to environmental and developmental decisions in the Southern Appalachians. (shrink)

Presents an account and technical assessment of Marx's economic analysis in Capital, with particular reference to the transformation and the surplus-value doctrine, the reproduction schemes, the falling real-wage and profit rates, and the trade cycle. The focus is on criticisms that Marx himself might have been expected to face in his day and age. In addition, it offers a chronological study of the evolution of that analysis from the early 1840s through three 'drafts': documents of the late (...) 1840s, the Grundrisse of 1857–1858, and the Economic Manuscripts of 1861–1863. It also provides three studies in application, focusing on Marx's 'evolutionary' orientation in his evaluation of the transition to communism and his rejection of 'egalitarianism' under both capitalist and communist regimes; his evolving perspective on the role of the industrial 'entrepreneur'; and his evolving appreciation of the prospects for welfare reform within capitalism. (shrink)

This paper is a philosophically informed contribution to debate about the values that might inform and be communicated by a further education. It includes a historical review of the concern of colleges of further education with economic and personal development that was reflected in the distinction between vocational and liberal studies. This distinction is seen to arise out of a mistaken epistemology which attempts to distinguish once and for all as it were, objective facts from subjective values. As instrumentalism (...) came to dominate the further education sector, the idea of liberal studies became obsolete and the sector might now appear to some commentators to be little concerned with values other than those of a monetary kind. The paper is focused on a traditional conception of further education colleges as places where people learn practices such as plumbing, joinery and hairdressing. It is argued that the distinction between academic and vocational practices is not based on the logic of the practices, but on the primary purpose of the person who is making the distinction. Practices such as plumbing, joinery and hairdressing are value laden as, more obviously, are other practices such as literary criticism and feminist pedagogy. The idea that the former type of practices are somehow value free and in need of additional study in moral competence or life skills is mistaken. Instead it is argued that all practices are evaluative and that an induction into any practice is bound to be a form of values education. (shrink)

In the 1960s Mancur Olson and Samuel Huntington suggested that the positive correlation between per capita income and the level of sociopolitical destabilization that they detected for low and middle income countries might be partly accounted for by the growth of the inequality associated with the economic and technological development in these countries. The empirical tests we perform generally support this hypothesis, but they also identify certain limits for such an explanation. Our tests reveal for low and middle income (...) countries a statistically significant correlation between GDP per capita and the economic inequality levels, but this correlation is not particularly strong. Earlier we found for the same countries significantly stronger positive correlations between GDP per capita and some important components of sociopolitical destabilization, such as the intensity of political assassinations, general strikes and anti-government demonstrations. It is quite clear that the strong association between the increase in the intensity of these components of sociopolitical destabilization and GDP per capita growth, can be explained by a much weaker tendency toward the growth of economic inequality only partly. In addition, our empirical tests suggest the presence of a certain threshold level of about 40 points on the Gini scale, after crossing which one can expect a radical increase in levels of sociopolitical destabilization in general, and the intensity of terrorist acts / guerrilla warfare and anti-government demonstrations in particular. According to the World Bank, the value of the Gini coefficient for Russia is now just in this zone, which suggests that the further growth of inequality in Russia could lead to an abrupt increase in political destabilization. (shrink)

Literature on ethical behavior has paid little attention to the mechanism between macro-environmental variables and environmental performance. This study aims at constructing a model to examine the relationships which link cultural values, population growth, economic development, and environmental performance by incorporating the mediating role of education. The multiple linear regression model was employed to test the hypotheses on a 3-year-pooled sample of 51 countries. Empirical results conclude that national culture, economic development, and population growth would significantly influence environmental (...) performance directly. In addition, through the mediating effect of education, population growth and national culture would significantly affect environmental performance indirectly. These findings provide theoretical and managerial implications for constructing the mechanism of cultural values and ethical behavior in general and environmental management in particular. (shrink)

With the advent of responsible business, ensuring social responsibility in sourcing is of interest to both academics and practitioners. In this study, we examine one way of achieving this goal: ethical sourcing initiatives (ESIs). ESIs refer to a firm’s formal and informal actions to manage sourcing processes in an ethical and socially responsible manner. While ESIs have been established as an important part of corporate social responsibility, it is unclear whether, how, and when this corporate effort is economically beneficial. We (...) conduct an event study estimating the shareholder value effect of 159 publicly traded firms’ ESIs and find that the stock market reacts positively to ESIs in general. We also compare market reactions under different conditions including reactive versus proactive ESIs, and their interactions with initiative timing, firm size, and financial risk. Additionally, we find that ESIs are associated with long-term stock price and operating performance. Overall, our findings clarify the potential economic benefits of corporate ESIs and encourage buying firms to take these initiatives selectively according to business contexts. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist by Kate RaworthYoko NagaseKate Raworth, Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist. London: Random House Business Books, 2017. 372 pp. £20. ISBN 9781847941374.Question: Is this a book about utopia? Answer: Yes, indeed; it is a book about a twenty-first-century utopia represented by the Doughnut.The author presents a vision of a pragmatic utopia, represented by the (...) inside of her Doughnut that is both distributive and regenerative. According to the author, a distributive economy is "one whose dynamics tend to disperse and circulate value as it is created, rather than concentrating it in ever-fewer hands." A regenerative economy is "one in which people become full participants in regenerating Earth's life-giving cycles so that we thrive within planetary boundaries" (156).The emphasis on the fair distribution of income, wealth, and means of production is an ideal pursued by famous utopians, from perfectly equal distribution of everything in Thomas More's Utopia to very libertarian position of "whatever he has justly made he has a right to keep" by H. G. Wells.1 The distributive Doughnut community aims to enable individuals to be, in Amartya Sen's words, "healthy, empowered and creative—so that they can choose to be and do things in life that they value" (43). This ideal of individuals' rights to choose their life and to realise their ends is the centerpiece of libertarians' ideal society.2 The Doughnut, however, leans heavily toward democratic socialism. Arguments for redistributive measures such as a universal basic income and taxes on land and wealth put forward by the author go beyond promoting equal opportunity and emphasize the necessity of economic means to make the best out of the opportunities (164, 180, 200). [End Page 528]The issue of sustainability at the global level is a concept that does not appear in the classical utopian literature, even though the idea of living happily in perpetuity is very much the tenet of many classical utopian societies. Given the extent of the geographical knowledge that existed by the time Wells explored his idea of a utopia, he was no longer able to set it in some not-yetdiscovered place on Earth like his predecessors did—hence the adaptation of "another planet."3 But this setup had nothing to do with the concept of the ecological limit of Earth. Pre-nineteenth-century utopians would be familiar with the contents of the Doughnut's foundation, the inner shell that consists of the social and economic factors such as food, health, education, and housing. However, the outer shell of the Doughnut is very twenty-first century, enclosing the nine planetary boundaries of the Doughnut as a life-support system, such as ozone layer depletion, ocean acidification, biodiversity loss, and climate change (44–48).The author points out that we need to get a grip on understanding how we belong in the world. Instead of relying on the power of words as George Orwell's Thought Police, the author takes full advantage of the power of the visual, by drawing the Doughnut as a map for a new economy and society.4 If studying economics is tantamount to "mastering the mother tongue of public policy" (287), Doughnut Economics is a critical introduction to and the foundation of economic, environmental, and social policymaking.Rather than utopias as purely thought exercise by Plato or More, Raworth, like David Hume, presents a model of a utopia that is meant to be achievable.5 The economics of the Doughnut does not depend on any unrealistic assumptions of human nature. The author proposes means to reaching inside the Doughnut without abolishing the market system or private property rights. But a strong emphasis is placed on additional redistributive policies and regulations that are deemed critical toward sustainability. This position is consistent with that of the former chancellor of Germany who reportedly said that she "wanted as much market economics as possible, but as much state intervention as necessary."6 In promoting the open-source circular economy movement, the author wonders if it may seem "unfeasibly utopian" (231). Yet given the pace... (shrink)

This article evaluates alternative models for explaining human behavior. In particular, it compares the resourceful, evaluative, maximizing model (REMM) with the economic (or money maximizing) model of human behavior. The theoretical framework is developed to enhance our understanding of "individual value creation" and to seek an economically rational explanation to: Why Warren Buffett is giving his money away to charity? The article develops a framework of biological, material, and immaterial sources of value. The article additionally extends the (...) existing REMM and finds several economically rational reasons for him to give away his money including the present value of help and goodwill, gained control, and lowered transaction costs. (shrink)

Children born today in the Maldives may someday have to abandon their homeland. Rising seas, caused by climate change, could swallow most of their tiny island nation within their lifetime. Their fate symbolizes the double inequity at the heart of climate change: those who have contributed the least to climate change will suffer the most from it. All is not lost, however. The scale and impact of climate change depends on the policies that people choose. How quickly will we eliminate (...) our greenhouse gas emissions? How will we do it? Who will pay for it? What will we protect through adaptation? How will we weigh the fortunes of future generations and the natural world against our own? Answers to questions like these reflect a constellation of value judgments that deserve close scrutiny. In addition to providing essential background on the science, economics, and politics of climate change, this book explores the values at stake in climate policy with the aim of shrinking the gap between climate ethics and climate policy. -/- Table of Contents -/- Acknowledgements / Preface / Introduction / 1. The Physical Science of Climate Change / 2. The Economics of Climate Change / 3. Values in Climate Politics / 4. The Moral Foundations of Climate Action / 5. Cross-Cutting Issues in Climate Ethics / 6. Values in Mitigation Policy / 7. Values in Adaptation Policy / 8. Intergenerational Justice and Climate Policy / 9. Nature, Values, and Climate Policy / Bibliography / Index. (shrink)

This book focuses on a key issue today: the role of values in technology, with special emphasis on ethical values. This topic involves the analysis of internal values in technology (as they affect objectives, processes, and outcomes) and the study of external values in technology (social, cultural, economic, ecological, et cetera). These values - internal and external - are crucial to the decision making of engineers. In addition, they have increasing relevance for citizens concerned with the present and (...) future state of technology, which gives society a leading position in technological issues. The book follows three main lines of research: 1) new perspectives on technology, values, and ethics; 2) rationality and responsibility in technology; and 3) technology and risks. This volume analyzes the two main sides involved here: the theoretical basis for the role of values in technology and a practical discussion on how to implement them in our society. Thus, the book is of interest for philosophers, engineers, academics of different fields, and policy-makers. The style used lends itself to broad audience. (shrink)

Variable-Value axiologies avoid Parfit’s Repugnant Conclusion while satisfying some weak instances of the Mere Addition principle. We apply calibration methods to two leading members of the family of Variable-Value views conditional upon: first, a very weak instance of Mere Addition and, second, some plausible empirical assumptions about the size and welfare of the intertemporal world population. We find that such facts calibrate these two Variable-Value views to be nearly totalist, and therefore imply conclusions that should (...) seem repugnant to anyone who opposes Total Utilitarianism only due to the Repugnant Conclusion. (shrink)

Critics have challenged agricultural scientists to address concerns for environmental quality, farm size and structure, international justice, and the health and welfare of consumers and farm labor in research planning. The goal of this research was to determine what is and what could be done to consider value-laden knowledge relevant to these concerns in research planning. Descriptions of a state agricultural experiment station and of a hierarchy of inquiry that included applied systems analysis and reductionist approaches to science revealed (...) the goal-seeking and expert-centered nature of agricultural research. Value-laden and value-free knowledge of agricultural scientists and administrators were heavily represented in broad research goals such as increased productivity and efficiency. In addition, these goals were not evaluated at the levels of inquiry typically practiced by agricultural scientists. A soft systems methodology provided a more holistic level of inquiry that could facilitate consideration of value-laden and value-free knowledge of world views more diverse than those of agricultural scientists and administrators. Scientists could function as co-learners with other participants to identify issues and to conceptualize systems that are relevant to improving research planning. Moreover, researching the practice of soft systems offers opportunities for exploring systems ideas and holistic value theory in relation to agricultural research. (shrink)

Despite the frequency of stillbirths, the subsequent implications are overlooked and underappreciated. We present findings from comprehensive, systematic literature reviews, and new analyses of published and unpublished data, to establish the effect of stillbirth on parents, families, health-care providers, and societies worldwide. Data for direct costs of this event are sparse but suggest that a stillbirth needs more resources than a livebirth, both in the perinatal period and in additional surveillance during subsequent pregnancies. Indirect and intangible costs of stillbirth are (...) extensive and are usually met by families alone. This issue is particularly onerous for those with few resources. Negative effects, particularly on parental mental health, might be moderated by empathic attitudes of care providers and tailored interventions. The value of the baby, as well as the associated costs for parents, families, care providers, communities, and society, should be considered to prevent stillbirths and reduce associated morbidity. (shrink)

Nowadays ethics plays a vital role in numerous professions. Due to social requirements and technical advances, changes in the accreditation rules in legal, economic, medical and engineering education have emerged in many countries, often requiring the inclusion of an ethics requirement in such professional programmes. In this work, the authors demonstrate that such changes are absolutely necessary in the legal profession in Lithuania. Specifically, the record low level of prestige of the judiciary and lawyers in the Lithuanian society and (...) the fact that lawyers are often accused of legal nihilism, clannish behaviour, and protectionism, demand that legal ethics assumes a far greater role in Lithuanian legal education. It is necessary to stress that the topic of lawyers’ ethical violations and the consequences of such violations is discussed in the society in only in a fragmentary, and not transparent manner; moreover, the significance of ethics in the education and training of lawyers has not been properly evaluated either. Especially having in mind Lithuania’s Soviet heritage (during most of the Communist era there was almost no education on those issues), it becomes obvious that legal ethics must be continuously stressed in the legal profession’s education and development. The importance and relevance of this topic is primarily determined by the current evaluation of lawyers in Lithuania, which shows that lawyers do not fulfil the expectations of the society. This raises a question whether law graduates indeed acquire this system of ethical values as part of the process of obtaining the knowledge and skills that are necessary for a modern lawyer. While analysing the Lithuanian legal documents governing the requirements for legal studies, it has been noticed that a course in legal ethics or lawyer’s professional responsibility is not compulsory either in the qualification requirements for judges, or in the Ruling of the Constitutional Court of 20 February 2008 on legal education for those who want to assume the position of a judge according to the order of law. In the description of legal study programmes, courses on professional ethics are designated as an optional non-legal subject, which is quite different from the legal education systems of other countries, where this type of course is compulsory for future lawyers. Even if this course is taught at Lithuanian higher education establishments, it is limited to the analysis of cases and legal regulation. Insufficient attention to this issue obviously creates the erroneous impression that it is of secondary importance for a lawyer. It should be noted that legal ethical standards, the development of lawyers’ value systems and other problematic questions related to legal ethics have not attracted attention of the Lithuanian scholars either. Therefore, this is a question of the utmost importance for legal education and requires additional research. In global educational and other academic literature, much is being discussed about the methods of teaching ethics, and the place of ethical subjects in study programmes and assessment. It is well worth supporting the research on the development of lawyers’ value systems, in that the lack of such values may influence the evaluation of the practicing lawyers’ satisfaction with their job, self-confidence and belief in the importance of their profession. Obtaining social-ethical attitudes and perspectives helps future lawyers gain more trust in their professional identity and the correctness of their professional work. The main conclusions drawn from the research are the following: (1) the university can and needs to contribute to the development of students’ value systems and this is one of the most important content requirements within the legal study programmes; (2) while teaching ethics, the primary focus must be not on the legal acts regulating ethics, which are changing over time, but on the aim of helping that students themselves have an increased sense of selfawareness and sensitivity to ethical issues in law practice, recognise and understand ethical dilemmas arising in the law, recognise the dominant attitudes in the society towards the role of a lawyer and motivate them to reconsider and discuss the value bases of such attitudes and their change; (3) a course on legal ethics – no matter how perfect it would be – is not the only way to develop a personal value system. In this context, the importance of liberal arts education should be accentuated. Given the research conducted, there is a clear link between the development of moral awareness and the person’s education in general. (shrink)

This study provides an additional partial test of the Hunt-Vitell theory [1986, Journal of Macro-marketing, 8, 5-16; 1993, 'The General Theory of Marketing Ethics: A Retrospective and Revision', in N. C. Smith and J. A. Quelch (eds.), Ethics in Marketing (Irwin Inc., Homewood), pp. 775-784], within the consumer ethics context. Using structural equation modeling, the relationships among an individual's personal values (conceptualized by the typology of Schwartz [1992, 'Universals in the Content and Structure of Values: Theoretical Advances and Empirical Tests (...) in 20 Countries', in M. P. Zanna (ed.), Advances in Experimental Social Psychology (Vol. 25, Academic Press, Orlando), pp. 1--65] ethical ideology and ethical beliefs are investigated. The validity of the model is assessed in a two-step procedure. First, a measurement model of constructs is tested for key validity dimensions. Next, the hypothesized causal relationships are examined in several path models, comparing no mediation, partial and complete mediation of ethical ideology. The empirical results indicate that individual differences in value priorities (resultant conservation and resultant self-enhancement) directly and indirectly (through idealism) influence the judgment of ethically questionable consumer practices. These findings may significantly contribute to the theoretical understanding of ethical decision-making. (shrink)

Scientific evidence and scientific values under risk and uncertainty are strictly connected from the point of view of Peirce’s pragmaticism. In addition, economy and statistics play a key role in both choosing and testing hypotheses. Hence we may show also the connection between the methodology of the economy of research and statistical frequentism, both originating from pragmaticism. The connection is drawn by the regulative principles of synechism, tychism and uberty. These principles are values that have both epistemic and non-epistemic (...) dimension. They concern both the decisions to test a hypothesis as well as inductive risk. The validity of this result stems from the values cost–benefit analysis imposes on scientific inquiry. Values associated with the economy of research are important not only in the pre-test phases of generating hypotheses but also when hypotheses are effectively tested. Peirce took these economic considerations to leave room for an interpretation of probability which is not only a frequentist and propensity-theoretic but also a conceptualist one referring to degrees of belief. We show that this leeway nonetheless agrees with the theory of the economy of scientific methods. (shrink)

ArgumentThe heuristic value of evolutionary biology for economics is still much under debate. We suggest that in addition to analytical considerations, socio-cultural values can well be at stake in this issue. To demonstrate it, we use a historical case and focus on the criticism of biological analogies in the theory of the firm formulated by economist Edith Penrose in postwar United States. We find that in addition to the analytical arguments developed in her paper, she perceived that (...) biological analogies were suspect of a conservative bias – as in social Darwinism. We explain this perception by documenting the broader context of Edith Penrose's personal and professional evolution, from her student days at Berkeley to her defense of Owen Lattimore against McCarthyism. We conclude that in the case under study at least, science and values were certainly intertwined in accounting for her skepticism towards biological analogies – insight we develop in the conclusion about today's relationships between biology and economics. (shrink)

This chapter contains sections titled: An Economic Model of Carroll Towing Relaxing the Model's Initial Assumptions Efficiency as a Norm Some Limitations of Law and Economics Conclusion References.

Are societies required to pursue continual economic growth as a matter of justice? In “The Value of Economic Growth”, Julie Rose considers three arguments in favor of the need for continual economic growth, each of which revolves around the instrumental value of economic growth for promoting an important good that is needed for a just society. In each case, Rose argues that there are mechanisms other than economic growth that could allow a society (...) to deliver the relevant goods, and thus meet the demands of justice with respect to those goods. I raise a set of issues for Rose’s argument that put pressure on the normative significance of her discussion. At the heart of these issues are ones about which possibilities Rose considers and which idealizations she makes. These issues tie into more general questions about the aims and methodology of normative work in social/political philosophy. Thus, in addition to being a contribution to the debate over the politics of economic growth, this paper can be understood partly as a case study in how reflection on these kinds of issues – ones about modality, idealization, and methodology – can matter to how we evaluate specific arguments in social/political philosophy. (shrink)

This study examined the direct influence of national economic condition, as well as the indirect effects through the strength of noneconomic institutions on supervisors’ ethical reasoning using the institutional anomie theory developed by Messner and Rosenfeld :1393–1416, 2001). Utilizing data of 20,025 supervisors across 52 countries, the analyses showed that high disparity in the economic distribution directly and indirectly leads to unethical values. High economic inequality in a country resulted in high tendency of supervisors to justify unethical (...) acts. In addition, some of this influence went through the institutional strength of family, education, polity, and religion, thereby indicating partial mediation. As a result, the study presented the important roles of social institutions in explaining supervisors’ attitude and behavior. The findings of this research contribute to the institutional anomie theory by clarifying the multilevel path of the macrostructures’ conditions in explaining supervisors’ ethicality. Moreover, since some of the relationships between variables resulted in the direction opposite to the propositions of the theory, this study suggested other theoretical models that may be integrated with IAT. Along with these theoretical contributions, practical implications to businesses and society are discussed to strengthen supervisors’ ethics. (shrink)

Altruism is a popular economic explanation for a wide range of pro-social decisions and actions. It has been applied frequently in several different streams of literature, and is a descriptively compelling model of behavior. This paper provides a theoretical framework for the existence of ordinal and cardinal altruistic value functions, as well as altruistic utility functions, based on an altruistic preference relation. Representation theorems are developed to specify relatively weak conditions under which altruistic value and utility functions (...) can be shown to exist. In addition, conditions that lead to additive forms of these functions are provided. (shrink)

This edited volume of original contributions deals with the economic and political thought of Michael Polanyi. Requiring little prior knowledge of Polanyi, this volume further develops a somewhat neglected side of Polanyi's work. In particular it examines the 'tacit integration', of subsidiary details into focal objects or actions as central to all knowing and action. It traces ontological counterparts in the structures of comprehensive entities and complex actions, and a multi-level universe in which lower levels have their boundary conditions, (...) the extents to which they apply, determined by those of the next higher level, whilst each possessing its own laws or operative principles. This schema of 'dual control' preserves the reality and relative autonomy of each level, and its interactions with others, against the various reductions. The essays in this volume also employ and develop important additional concepts and distinctions such as: 'corporate' and 'spontaneous' order; 'public' and 'private' liberties; 'general' and 'specific authority'; and 'moral inversion'; which, as the essays show, are necessary for understanding and maintaining a free society and the freedom of institutions within it. Among the topics treated with them are: more of the prerequisites of freedom in public liberties dedicated to principles and transcendent values; totalitarianism and society as spontaneous order; the balance of general and specific authority in society and particular institutions; reductionism, totalitarianism and consumption in consumer societies, as moral inversions; the mutual interactions of economics and politics as distinct and autonomous but interacting levels; the sociological aspects of economics; and Polanyi's own contributions to sociology. Although, as indicated, Polanyi has his special terms, the essays in this volume, like his works, give them meaning with concrete examples and so avoid merely shuffling a mass of abstractions. Together the essays show that his work is a rich seam of ideas and inspiration for yet further extension and application--Publisher. (shrink)

How much value can our decisions create? We argue that unless our current understanding of physics is wrong in fairly fundamental ways, there exists an upper limit of value relevant to our decisions. First, due to the speed of light and the definition and conception of economic growth, the limit to economic growth is a restrictive one. Additionally, a related far larger but still finite limit exists for value in a much broader sense due to (...) the physics of information and the ability of physical beings to place value on outcomes. We discuss how this argument can handle lexicographic preferences, probabilities, and the implications for infinite ethics and ethical uncertainty. (shrink)

This study explores linkages between what Chinese managers generally know about environmental issues, how strongly they value environmental protection, and different types of behaviours/actions they may take within their organizations on behalf of the environment. From a sample of 305 managers in Guangzhou and Beijing, it was found that both environmental knowledge and values are more predictive of more personal managerial behaviours, such as keeping informed of relevant company issues and working within the system to minimize environmental impacts, than (...) more overt behaviours. Moreover, for these more personal actions, environmental knowledge and values were found to have both main and interactive effects. By comparison, it was found that both environmental values and knowledge had additive effects on managerial tendencies to initiate new programs within their domain of responsibility. Only environmental values was found to have a modest influence environmental advocacy. (shrink)

Ideals (or ideal values) help people to navigate in social life. They indicate at a very fundamental level what people are concerned about, what they strive for, and what they want to be affiliated with. Transferring this to a leader-follower analysis, our first study (n = 306) confirms that followers' identification and satisfaction with their leaders are stronger, the more leaders match followers' ideal leader values. Study 2 (n = 244) extends the perspective by introducing the novel concept of counterideals (...) (i. e., how an ideal leader should not be) as a second, non-redundant point of reference. Results confirm that a leader's match on ideal and on counter-ideal values have independent effects in that both explain unique variance in followers' identification and satisfaction with their leader. Study 3 (n = 136) replicates the previous results in an experimental scenario study and provides evidence for the proposed causal direction of the underlying process. We conclude that counter-ideal values might be an additional point of reference that people use to triangulate targets above and beyond ideal values and discuss the implications of our findings for value research and management. (shrink)

Malthus did not leave us with a systematic treatment of colonization, but from remarks scattered throughout his publications and correspondence it is possible to assemble a fairly coherent account of his views on the advantages and disadvantages of colonies, and on the reasons why some have failed and others succeeded. Included in these scattered remarks are some comparisons between his own views on colonies and those of Adam Smith. The question of the relationship between Malthus and Adam Smith is a (...) rather complex and subtle one, and cannot be given the full consideration it deserves in one short paper. But, as a general summary, it can be said that Malthus had a high regard for Smith and considered himself a follower and disciple of Smith, by contrast with Ricardo, James Mill, and McCulloch etc., whom he considered as exponents of a ‘New System of Political Economy”. His own Principles of Political Economy was conceived as a collection of ‘tracts or essays”, not as a new systematic treatise replacing the Wealth of Nations, Joseph Gamier in his article ‘Malthus” in the Dictionnaire de l'Economie Politique, 1852, saw that the title of the Principles was in fact a misnomer: ‘Malgré son titre, le livre sur les Principes n'est point un traité complet, mais seulement une collection de dissertations.” In what was probably intended as a criticism of Ricardo's Principles of Political Economy and Taxation, 1817, Malthus stated that the ‘present period … seems to be unpropitious to the publication of a new systematic treatise on political economy”, and, referring to Smith's work, stated that ‘the treatise which we already possess is still of the very highest value”. Nevertheless, despite professing his affiliation, Malthus did not hesitate to criticize Smith when he disagreed with him. He recognized that the Wealth of Nations contained ‘controverted points” and that it would require some ‘additions … which the more advanced stage of the science has rendered necessary”. (shrink)

Fuzzy sets and fuzzy logics are used to model events with imprecise, incomplete, and uncertain information. Researchers have developed numerous methods and techniques to cope with fuzziness or uncertainty. This research intends to introduce the novel concepts of complex neutrosophic relations and its types based on the idea of complex neutrosophic sets. In addition, these concepts are supported by suitable examples. A CNR discusses the quality of a relationship using the degree of membership, the degree of abstinence, and the (...) degree of nonmembership. Each of these degrees is a complex number from the unit circle in a complex plane. The real part of complex-valued degrees represents the amplitude term, while the imaginary part represents the phase term. This property empowers CNRs to model multidimensional variables. Moreover, some interesting properties and useful results have also been proved. Furthermore, the practicality of the proposed concepts is verified by an application, which discusses the use of the proposed concepts in statistical decision-making. Additionally, a comparative analysis between the novel concepts of CNRs and the existing methods is carried out. (shrink)

A growing body of research looks into business-led efforts to create social value by improving the socio-economic well-being of Base of the Pyramid (BoP) communities. Research shows that businesses that pursue these strategies—or BoP businesses—face distinct sets of challenges that require unique capabilities. There is, however, limited effort to synthesize current evidence on the mechanisms through which these businesses create social value. We systematically review the literature on BoP businesses, covering 110 studies published in business and management (...) journals. We start by using bibliographic analysis to map the broad contours of the literature in terms of its common theoretical and empirical approaches, intellectual core, and evolution in time. We subsequently conduct a qualitative content analysis on the identified articles to synthesize their main findings. The analysis leads to a conceptual framework that explicates the antecedents, constraints, capabilities, and contingencies that drive social value creation. In addition to providing a rich and systematically organized account of the evidence, our analysis provides a critical reflection on the ethical dilemmas of social value creation efforts for the BoP, and outlines promising avenues for future research. (shrink)