New Approaches to Monetary Economics brings together presentations of innovative research in the field of monetary economics. Much of this research develops and applies approaches to modelling financial intermediation, aggregate fluctuations, monetary aggregation and transactions-motivated monetary equilibrium. The contents of this volume comprise the proceedings of the second in a conference series entitled International Symposia in Economic Theory and Econometrics. This conference was held in 1985 at the IC2 Institute at the University of Texas at Austin. The symposia in this (...) series are sponsored by the IC2 Institute and the RGK Foundation. New Approaches to Monetary Economics, edited by Professors William A. Barnett and Kenneth J. Singleton, consists of five parts. Part I examines transactions-motivated monetary holding in general equilibrium; Part II, financial intermediation; Part III, monetary aggregation theory, Part IV, issues in aggregate fluctuation; and Part V, theoretical issues in the foundations of monetary economics and macroeconomics. (shrink)

Part intellectual autobiography and part exposition of complex yet contemporary economic ideas, this lively conversation with renowned scholar and public intellectual Kenneth J. Arrow focuses on economics and politics in light of history, current events, and philosophy as well. Reminding readers that economics is about redistribution and thus about how we treat each other, Arrow shows that the intersection of economics and ethics is of concern not just to economists but for the public more broadly. With a foreword by (...) Amartya Sen, this book highlights the belief that government can be a powerful force for good, and is particularly relevant in the current political climate and to the lay reader as well as the economist. (shrink)

This study examines cheating behaviors among 742 marketing and management majors at three public AACSB-accredited business schools. Specifically, we studied the simultaneous influence of demographic and attitudinal characteristics on: (1) reported prior cheating behavior; (2) the tendency to neutralize cheating behaviors; and, (3) likelihood of future cheating. We additionally examined the impact of in-class deterrents on neutralization of cheating behaviors and the likelihood of future cheating. We also directly tested potential mediating effects of neutralization on cheating behavior.We conducted independent assessments (...) of the validity of the Smith et al. (2002) model of cheating behavior and its antecedents using structural equations modeling procedures. Results supported the differentiation of the theoretical constructs within the specified process model. Furthermore, tests of the aforementioned theoretical model indicated that the primary influences on future cheating were prior cheating, and the degree to which one neutralized prior cheating behaviors. Equally noteworthy, in contrast to previous research we found in-class deterrents to have no significant influence in either neutralizing behavior or future cheating proclivities. (shrink)

This paper 1) argues that libertarians are virtually as badly off as compatibilists in the face of the objection to the Free Will Defence that omnipotent God could have ensured that all free beings always but freely did right, and 2) explores the prospects for an "upgraded" Free Will Defense which takes freedom merely as a necessary condition for a further higher good which logically could not be achieved if God employed any of the available strategies--under both compatibilist and libertarian (...) assumptions--for creating morally free beings without the risk of moral evil. (shrink)

After decades of acrimonious debate on the nature of scientific knowledge, researchers in the human or social sciences are reaching a state of relative equanimity, a condition that may be characterized as a reflective pragmatism. Yet, even while the context has favored the development of new forms of research, the longstanding ocular metaphor of inquiry remains pervasive. That is, researchers continue the practice of observing what is the case, with the intent to illuminate, understand, report on, or furnish insight into (...) given states of affairs. And, while selectively useful, such an orientation is not only limited in potential but subject to a receding span of application. As I will propose, when the logics of reflective pragmatism are fully extended, we enter a new territory of understanding, one in which the vision of research is radically altered. We replace the captivating gaze on the world as it is with value based explorations into what it could be. This conception of a future forming orientation to research opens the way to new aims, practices, and reflections. (shrink)

Hume said that to have a memory image of some individual, x, is to perceive a ‘faint copy’ of some prior perception of x. This classical view of memory images includes three distinct claims: Images and percepts are mental entities which serve as objects for a ‘direct’ or ‘non-inferential’ perception. A memory image of some individual, x, shares numerous properties with some prior perception of x.

Aquinas’s reflection on the relationship between faith and science took place amidst serious controversy about the acceptability of the very form of science Aquinas had adopted. Aquinas uses the Aristotelian conception of science and his own view of the place of theology and faith, to produce arguments for the compatibility of reason and science. I examine the arguments he presents in the Summa Contra Gentiles, and I criticize details of his arguments, but I endorse what I see as his general (...) strategy. (shrink)

This chapter considers individual differences associated with alcohol effects. There is wide variability in subjective and other responses to alcohol. The sources of this variability include allelic variation in enzymes responsible for the metabolism of alcoholism, sensitivity, temperament, neurocognitive functioning, and social learning. These sources of heterogeneity in alcohol response appear to be very important not only in understanding the acute effects of alcohol on the individual but also in understanding risk processes underlying the development of alcohol use disorders.

One of the central questions of economics relates to the coordination of individual units within a large organization to achieve the central objectives of that organization. This book examines the problems involved in allocating resources in an economic system where decision-making is decentralized into the hands of individuals and individual enterprises. The decisions made by these economic agents must be coordinated because the input decisions of some must eventually equal the output decisions of others. Coordination arises naturally out of the (...) mathematical theory of optimization but there is still the question of how it can be achieved in practice with dispersed knowledge. The essays here explore the many facets of this problem. Nine papers are grouped under the title 'Economies with a single maximand'. They include papers on static and dynamic optimization, decentralization within firms, and nonconvexities in optimizing problems. Fourteen papers are concerned with 'Economies with multiple objectives'. Among the topics covered here are stability of competitive equilibrium, stability in oligopology, and dynamic shortages. The final part of the book includes three papers on informational efficiency and informationally decentralized systems. Leonid Hurwitcz is the Nobel Prize Winner 2007 for The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, along with colleagues Eric Maskin and Roger Myerson, for his work on the effectiveness of markets. (shrink)

The Trouble with America critiques the theory and practice of American government—government too weak to solve our public problems, restrained more in its ability to do good than in its ability to do harm, and grossly unfair to the poor and middle classes. As a result, we Americans find ourselves with poor leadership, inadequate representation, failing policies, and a pathological culture.

Abstract. Given that the conception of the person as an autonomous agent is a cultural construction, inquiry is directed to its potentials and shortcomings for cultural life. While such a conception contributes to sustaining the moral order, it also supports an individualist ideology and social divisiveness. As an alternative to the conception of moral autonomy, I explore the potentials of relational being, an orientation that views relational process (as opposed to individual agents) as the wellspring of all meaning. Such an (...) orientation sees all moral concepts and action as issuing from coordinated action. However, at the same time that relational process generates moral orders, so does it establish the grounds for “immorality” and social conflict, which undermines the relational process of creating moral order. Thus, a concept of “second-order morality” is advanced, which seeks to reestablish a more inclusive first-order morality. Responsibility for productive processes of relationship is invited. Recent innovations in dialogic practices lend themselves to relational responsibility. (shrink)

This paper discusses recent neuroscientific research that indicates a solution for what we label the ''causal problem'' of pain qualia, the problem of how the brain generates pain qualia. In particular, the data suggest that pain qualia naturally supervene on activity in a specific brain region: the anterior cingulate cortex (ACC). The first section of this paper discusses several philosophical concerns regarding the nature of pain qualia. The second section overviews the current state of knowledge regarding the neuroanatomy and physiology (...) of pain processing. The third section highlights the recent research by Rainville et al. [(1997) Pain affect encoded in human anterior cingulate but not somatosensory cortex, Science, 277, 968-971], which suggests that pain affect is encoded in the ACC. The final section of the paper spells out exactly how these data affect the causal problem of pain qualia. (shrink)

It has been 35 years since the publicationMelzack and Wall's Gate Control Theory whichhypothesized that nociceptive information wassubject to dynamic regulation by mechanismslocated in the spinal cord dorsal horn thatcould ultimately lead to hyperalgesic orhypoalgesic states. This paper examines GateControl Theory in light of our currentunderstanding of the neuroanatomical,neurophysiological and neurochemical substratesof nociception and antinociception. Despiteits initial controversies, no one has proposeda more comprehensive overall theory of painmodulation or has successfully refuted most ofthe basic tenets of this theory.

This book is written for the non-philosophy major taking 'Contemporary Moral Issues' or 'Intro to Ethics' courses. It provides a method to research any complex moral issue in hundreds of print, periodical, and Internet research sources, and gives a model of the method applied to the question of capital punishment.