Due to the nature of lending practices and support services offered to the poor in developing countries, portfolio risk is a growing concern for the microfinance industry. Though previous research highlights the importance of risk for microfinance organizations, not much is known about how microfinance organizations can mitigate risks incurred from providing loans to the poor in developing countries. Further, though many microfinance organizations practice corporate social responsibility to help create economic and social wealth in developing countries, the impact of (...) such CSR practices remains an underdeveloped area of inquiry. We use a normative ethics lens to develop an ethics-based CSR theory that differentiates between three forms of ethics-based CSR—virtue, consequentialist, and deontological. We argue that while all three forms can help mitigate risk, virtue ethics-based CSR is potentially the most useful form of CSR toward mitigating microfinance portfolio risk. We test our hypotheses using a sample of microfinance organizations from across the world. Our findings suggest that virtue ethics-based CSR is not just an important philosophical paradigm; it can actually help mitigate microfinance portfolio risk when implemented in practice. (shrink)

This study examines whether microfinance institutions (MFIs) that serve women borrowers at the base of the economic pyramid are likely to adopt a written code of positive organizational ethics (POE). Using econometric analysis of operational and economic data of a sample of MFIs from across the world, we find that two contextual factors—poverty level and lack of women’s empowerment—moderate the influence of an MFI’s percentage of women borrowers on the probability of the MFI having a POE code. MFIs that serve (...) more women borrowers are more likely to adopt a POE code, especially in negative contexts (where women borrowers face poverty and disempowerment and are therefore susceptible to abuse). This study provides evidence that MFIs can build positive ethical strength in negative contexts. (shrink)

This essay reads John Locke’s Two Treatises through its nonhuman animal presences, especially the emblematic figures of cattle and “noxious creatures” like “lyons,” “tygers,” and wolves. It argues that the real ground of Lockean human equality is an ongoing practice of subjugating nonhuman animals, and not any attribute of the human species as such. More specifically, the Lockean social compact founded on this equality relies on a “dominion covenant,” an existential “agreement” in which God lends the power of dominion to (...) man and any threats to this order require punishment. This dynamic enables violence toward humans, in the name of their humanity, if they do not properly exert their power of dominion. Critics have connected Locke’s theory of property to indigenous dispossession and his theory of punishment to carceral systems; both processes, I argue, intimately rely on the dominion covenant. Lockean racism is the fulfillment of, and not a deviation from, his account of human equality. (shrink)

In this paper, I discuss the ethical underpinnings to the anthropological analysis of age and reproductive decline in the ‘management’ of infertility, by suggesting that assisted reproductive technologies ‘use’ age and reproductive decline to further endanger women’s bodies by subjecting it to disaggregation into parts that do not belong to them anymore. Here, the category of age becomes a malleable concept to manipulate women seeking fertility management. In ethnographic findings from two Indian ART clinics, amongst women aged between 20 and (...) 35 years visiting an IVF/art clinic in Hyderabad city in South India, and women above 50 years of age visiting an IVF/art clinic in Hisar in North India—reproductive bodies are similarly disaggregated. In case of younger women, the treatment is fixated on rescuing eggs that may be in ‘decline’, and in case of older women, the aim is to engineer a viable pregnancy. Thus, the constant focus on eggs and wombs in infertility treatment creates a body that is not only not whole but also completely without agency. Age becomes a category that has rhetorical value to ‘push’ or persuade women into particular forms of fertility management through infertility medicine. I undertake a problematization of the egg and the uterus through the identification of the recurring motif of the menstrual cycle within IVF treatment to suggest that bodily holism is not part of ART discourse that unethically thrives on promoting technological intrusions to promote its use and normalization. (shrink)

Modern bioethics was born in the West and thus reflects, not surprisingly, the traditions of Western moral philosophy and political and social theory. When the work of bioethics was confined to the West, this background of socio-political theory and moral tradition posed few problems, but as bioethics has moved into other cultures – inside and outside of the Western world – it has become an agent of moral imperialism. We describe the moral imperialism of bioethics, discuss its dangers, and suggest (...) that global bioethics will succeed only to the extent that it is local. (shrink)

How does one give voice to the unspeakable, inhuman violence that shapes the present, and what remains of humanity in its wake? Adriana Cavarero offers an answer that roots human speech in embodied vulnerability, in contrast to philosophical emphases on disembodied rationality. In the face of what she calls horrorism, which puts humans in proximity to animality, she calls for resuscitating vocality, and therefore humanity, from loss. This article reads Kafka’s short story “A Report to an Academy” – which structurally (...) resembles a slave narrative and concerns a kidnapped ape who learns to speak – to extend Cavarero’s emphasis on vulnerability while challenging her humanism. In Kafka, modern horror’s locus is not animality but the abstract human, and it projects the unstable distinction between voice and noise onto blackened humans and nonhuman animals. (shrink)

We identify the ways the policies of leading international bioethics journals limit the participation of researchers working in the resource-constrained settings of low- and middle-income countries in the development of the field of bioethics. Lack of access to essential scholarly resources makes it extremely difficult, if not impossible, for many LMIC bioethicists to learn from, meaningfully engage in, and further contribute to the global bioethics discourse. Underrepresentation of LMIC perspectives in leading journals sustains the hegemony of Western bioethics, limits the (...) presentation of diverse moral visions of life, health, and medicine, and undermines aspirations to create a truly “global” bioethics. Limited attention to this problem indicates a lack of empathy and moral imagination on the part of bioethicists in high-income countries, raises questions about the ethics of bioethics, and highlights the urgent need to find ways to remedy this social injustice. (shrink)

The field of bioethics continues to struggle with the problem of cultural diversity: can universal principles guide ethical decision making, regardless of the culture in which those decisions take place? Or should bioethical principles be derived from the moral traditions of local cultures? Ten Have and Gordijn and Bracanovic defend the universalist position, arguing that respect for cultural diversity in matters ethical will lead to a dangerous cultural relativity where vulnerable patients and research subjects will be harmed. We challenge the (...) premises of moral universalism, showing how this approach imports and imposes moral notions of Western society and leads to harm in non-western cultures. (shrink)

In the twentieth century, no person epitomized more dramatically the “Renaissance mind” than Herbert A. Simon (1916–2001). In aworking life spanning over 60 years, Simon made seminal contributions to administrative theory, axiomatic foundations of physics, economics, sociology, econometrics, cognitive psychology, logic of scientific discovery, and artificial intelligence. Simon's life of the mind, thus, affords nothing less than a “laboratory” in which to observe and examine at close quarters the phenomenon ofmultidisciplinary creativity. In this paper, we attempt to shed some light (...) on the nature of Simon's creativity and the nature of his particular Renaissance mind. In particular, we have attempted here to articulate thecognitive styleunderlying Simon's multidisciplinary creativity. (shrink)

India is a rising power in the multipolar world. This book showcases India's endogenous political ideas and strategic thinking, both of which are the key resources that underpin and drive this rise. Kautilya's Arthashastra is a major source of these ideas. It is a premodern treatise on statecraft and a foundational text of political science. So far, political science and international relations theory have largely ignored Kautilya, or, at best, labelled him merely as the 'Indian Machiavelli'. Such a characterisation vastly (...) undervalues the riches and depth of the contributions of Kautilya - a contemporary of Aristotle - whose contributions can be compared more appropriately to those of Artistotle's politics. Kautilya's contributions are recognised by such masters of western political theory as Max Weber and Hans J. Morgenthau. But in South Asia, Kautilya has remained adrift of the academic mainstream and has been given little prominence in public life, both intellectually and politically. Despite such scholarly negligence, everyday life in India - in terms of the institutions and process that constitute it - has remained deeply grounded in the political heritage of pre-modern India, succinctly codified in Kautilya's Arthashastra. These themes are explored in this book through such bridge concepts as the 'modernity of tradition' and the 're-use of the past' in tackling contemporary political problems. These concepts are the key factors that explain the resilience and stability of India's hybrid political institutions and democratic system. 'Kautilya's Arthashastra: an Intellectual portrait - Classical Roots of Modern Politics in India' is an indispensable key to understanding contemporary India and a major contribution to South Asian area studies, comparative politics and global political theory. (shrink)

The plank of the dependency theory is that unless there is a transition to socialism and a complete break with the metropolitan countries, the peripheral status of the dependent countries would continue. After the Second World War with the emergence of many new nations, as a consequence of decolonization, the question of development assumed paramount importance for these countries. Raul Prebisch (1950) understood the nineteenth century paradigm of free trade as inoperative and disadvantageous to the raw materials exporting countries. The (...) spectacular success of the Newly Industrialized countries‐ Hong Kong,Singapore, South Korea and Taiwan by integrating with the developed nations, have achieved a higher standard of living and negated the basic assumptions of the dependency theory. (shrink)

How do bioethics gatekeepers located in wealthy nations treat bioethics workers from developing countries? Can the policies of leading international bioethics journals—based on a concern for profit that effectively restricts access for most researchers from developing countries—be ethically justified? We examined these policies focusing on the way they influence the ability of researchers in resource-poor countries to participate in the development of the field of bioethics. Eight of the fourteen leading bioethics journals are published by three transnational publishing houses, all (...) of which are based in wealthy nations. None of these eight journals participates in the Health InterNetwork Access to Research Initiative of the World Health Organization, a program that provides free or very low-cost online access to the major journals by researchers in developing countries. Lack of access to these essential resources makes it extremely difficult, if not impossible, for bioethicists in developing countries to learn from, and engage in, the global bioethics dialogue. Thus, exclusionary practices of leading bioethics journals sustain the hegemony of Western bioethics, raising serious questions about professed aspirations to create a truly “global” bioethics. This phenomenon indicates lack of empathy and moral imagination of bioethicists in developed countries, raises serious questions about the ethics of bioethics, and highlights the urgent need for creative solutions to remedy this social injustice. (shrink)

This study suggests that unrelated diversification has a positive influence on the probability of fraudulent reporting whereas related diversification has a negative influence on the probability of fraudulent reporting. The strength of the influence of these corporate level strategies is contingent on the moral character of the firm. Unrelated diversification provides opportunity for financial innovation within the firm’s internal capital market, which can result in fraudulent reporting. This is more likely when the moral character of the firm is driven by (...) a conscienceless financial self-interest motive, as implied by the firm’s contempt toward the larger community (in terms of damage inflicted on the interests of people outside the firm). In contrast, related diversification, where product divisions focus on mutual sharing and monitoring of operational activities, can reduce the probability of fraudulent reporting. This is more likely when constituents within the firm view themselves as moral citizens, as implied by the firm’s benevolence toward the larger community. Hence, while unrelated diversification focuses the energies of managers within the firm on financial manipulation, related diversification focuses these energies on productive purposes. (shrink)

The ‘deontic orientation’ thesis—that is, the claim that ancient Indian legal theory is orientated or focussed towards duty to the exclusion of other jural operators—features prominently in the discourse of ancient Indian law. In contrast, contemporary legal systems tend to employ a variety of other jural operators also, including right, liberty, power, and so forth. Theorists like Wesley Hohfeld even assert that these operators are elemental, and hence not reducible to other operators. This disparity may be addressed from various evaluational (...) and conceptual standpoints. I address instead a more basic question: is the disparity real? Does a scrutiny of legal treatises factually validate the deontic orientation thesis? I contend that the thesis is factually not sustainable, and that legal treatises of ancient India do display a sophisticated conception of non-deontic operators. To this end I undertake a scrutiny of Kauṭilya’s Arthaśāstra, to determine the treatise’s use of non-deontic operators, and whether it treats them as entities in their own standing as opposed to derivatives or outcomes of the deontic. (shrink)

The welfare state, once seen as the best institutional response to people in need, has steadily come under pressure, as much from shrinking state capacities as from neo-liberal advocates of individual responsibility. Still, despite decline of the post-war consensus on the efficacy of the welfare state, social ‘vulnerability’ still remains the key focus of public policy. However, though much in use in contemporary political discourse, the logical and practical implications of social vulnerability remain unclear. Its essential subjectivity – it is (...) the ‘feeling of vulnerability’ which makes one vulnerable – turns the concept into a catch-all variable, impeding rigorous theoretical and empirical analysis. I respond to this problem with a ‘vulnerability-responsibility’, model. Its parameters include a ‘responsive’ state, an active civil society and a participatory political environment, bolstered by the assertion of agency of the vulnerable. With India as an empirical exemplar, the essay shows how ‘nested’ vulnerability – a community of pro-active citizens in need of urgent and vital assistance - in the backdrop of a responsive state and competitive, robust and resilient political participation, can generate a sustainable, context-relevant process to cope with the problem of social vulnerability. The model, currently aimed at vulnerable citizens in a democratic state, has the potential of being extended to non-democracies as well as vulnerable non-citizens into its domain. (shrink)

The 2010 Commonwealth Games was Delhi's and India's biggest sporting event ever. In the immediate aftermath of the Games, this paper sets out to analyse the story of the Games' legacy- its politics, economic impact and to what extent was it successful in transforming Delhi into a global city and India into a sporting force to reckon with. Having already documented the history and politics of the Commonwealth Games with a focus on Delhi, , this paper is an extension in (...) trying to place Delhi 2010 in perspective, understand its long term meaning and explain its lasting legacy. (shrink)

Ever since 1956 when details of the Logic Theorist were published by Newell and Simon, a large literature has accumulated on computational models and theories of the creative process, especially in science, invention and design. But what exactly do these computational models/theories tell us about the way that humans have actually conducted acts of creation in the past? What light has computation shed on our understanding of the creative process? Addressing these questions, we put forth three propositions: (I) Computational models (...) of the creative process are fundamentally flawed as theories of human creativity. Rather, the universal power of computational models lies elsewhere: (II) Computational models of particular acts of creation can serve as effective experiments to test universal hypotheses about creative processes and mechanisms; and (III) Computation-based architectures of the creative mind provide metaphorical frameworks that, like all good metaphors, can serve as rich sources of insight into aspects of the creative process. In this paper, we provide evidence for these three propositions by drawing upon some particular episodes in the cognitive history of science, technology, and art. (shrink)

One of the fundamental themes in economic theory is the study of the role of prices in achieving an optimal allocation of resources in a competitive, decentralized economy. The book begins with a review of the basic results on the rigorous elaboration of the Walras-Pareto theory in the context of a static economy with many agents. It summarizes some subsequent research in which the limits of the price-mechanism as a successful coordination device are recognized. When economic activity is allowed with (...) no pre-assigned terminal period, the two fundamental theorems linking competitive equilibrium allocations to Pareto optimality are challenged and the question of decentralization is carefully re-examined. With incomplete markets, and sequential trading, the concept of a Radner equilibrium is next introduced, and some of the striking properties of this are summarized. In a large economy with random shocks to preferences and/or endowments of individual agents, the implications of the celebrated laws of probability theory are explored. This book provides a clear and comprehensive analysis of the efficiency properties of general equilibrium, with many agents and an expanded list of commodities. It will be of particular interest to postgraduate and doctorate students of economic theory as well as scholars on Walrasian equilibrium, Pareto optimality and uncertainty theories. (shrink)

In Ennead III.7.11--13, Plotinus describes the genesis of time, and time's nature as the life of soul, and the moving image of eternity. In this dissertation, Ennead III.7.11--13 was read, using an exegetical method, which comprised, raising questions, and answering them, in strictly Plotinian terms, by contemplating the pieces that best fit into these puzzles. Some answers discovered were as follows. ;Before its appearance, time exists as the seed of time in Intellect. This is a state of rest because of (...) its relative unity, its participation in the genus rest, and its absence of tolma. Time's genesis comprises an eternal manifestation of a change of identity from seed to actualization. Time is generated in four logical steps. Soul becomes diluted upon its generative acts, mainly because of tolma. Soul has a far richer contemplation of Intellect underlying its genesis of the sensibles, than that underlying its genesis of time. ;Soul undergoes ontological loss in its generation of time and the sensible universe. Beginning with tolma, and the desires for autonomy unleashed by tolma, soul's multiplicity is enhanced. Yet this multiplicity is also tempered by soul's unquiet power's glance of aspiration towards Intellect. This glance is the contemplation, which fecundates soul's generation of time. Soul's power is its strength, but the unquietness of this power can indicate ontological loss. Tolma in soul incurs evil, because tolma thwarts soul from contemplating Intellect. ;The genus-species structure of soul is involved in the generation and omnipresence of time, through the actualization of the genus in its species. Time is ideally omnipresent when time is kairos. Soul is immortal and impassible, and it is only soul's activity and progeny, which are temporal. Time is the life of soul, insofar as movement is predicated of this life at three levels: the logical, the perceptible, and the spatial. Time itself is a poorer life than eternity, time itself is not alive, and yet, time is not unreal. Time is a moving image of eternity through the common predicates applied to both, which are their shared characteristics, defining the essence of the image that time constitutes. (shrink)

Culture creates the context within which individuals experience life and comprehend moral meaning of illness, suffering and death. The ways the patient, family and the physician communicate and make decisions in the end-of-life care are profoundly influenced by culture. What is considered as right or wrong in the healthcare setting may depend on the socio-cultural context. The present article is intended to delve into the cross-cultural perspectives in ethical decision making in the end-of-life scenario. We attempt to address the dynamics (...) of the roles of patient, family and physician therein across two countries from East and West, namely, India and Germany. In India, where illness is more a shared family affair than an individual incident, a physician is likely to respect the family’s wishes and may withhold the ‹naked truth’ about the diagnosis of a fatal disease to the patient. In Germany, a physician is legally required to inform the patient about the disease. In India, advance directive being virtually non-existent, the family acts as the locus of the decision-making process, taking into account the economic cost of available medical care. In Germany, advance directive is regarded as mandatory and healthcare is covered by insurance. Family and the physician appear to play larger roles in ethical decision making for patients in India than for those in Germany, who place greater emphasis on autonomy of the individual patient. Our study explicates how culture matters in ethical decision-making and why the bioethical discourse is necessary in the concrete realities of the socio-cultural context. To explore the possibility of finding a common ground of morality across different cultures while acknowledging and respecting cultural diversity, thus remains a formidable challenge for the bioethicists. (shrink)

Who are the gatekeepers in bioethics? Does editorial bias or institutional racism exist in leading bioethics journals? We analyzed the composition of the editorial boards of 14 leading bioethics journals by country. Categorizing these countries according to their Human Development Index (HDI), we discovered that approximately 95 percent of editorial board members are based in (very) high-HDI countries, less than 4 percent are from medium-HDI countries, and fewer than 1.5 percent are from low-HDI countries. Eight out of 14 leading bioethics (...) journals have no editorial board members from a medium- or low-HDI country. Eleven bioethics journals have no board members from low-HDI countries. This severe underrepresentation of bioethics scholars from developing countries on editorial boards suggests that bioethics may be affected by institutional racism, raising significant questions about the ethics of bioethics in a global context. (shrink)

This essay explores the humanistic dimensions of the unparalleled world-wide pandemic caused by Covid-19. Using both western and eastern sources, it seeks to draw wisdom from this tragedy – but also apply wisdom to it. Reflecting on the historical moment ensconcing this pandemic, and the fundamental metaphysical implications of Covid-19, this essay has three parts: (1) Precipice of History-Nature: This Historical Moment surrounding Covid-19; (2) Implications of a Pandemic for the nature of Nature and God; (3) Implications of a Pandemic (...) for Death, Predestination, Higher Faith – and likely Results. Viewing this moment as portentous in its anticipation of a new age, this essay uses the notion of a temporized precipice, to situate this pandemic historically. Drawing from western (Heidegger, Russell, Augustine, Catherine of Sienna, Epictetus, Plato, and Plotinus), and Indian (Gandhi, Vivekananda, and the Bhagavadgītā) sources, this essay offers both idealistic and realistic views of the likely results of Covid-19. (shrink)