A decomposition model of Net Final Values (NFV), named Systemic Value Added (SVA), is proposed for decision-making purposes, based on a systemic approach introduced in Magni [Magni, C. A. (2003), Bulletin of Economic Research 55(2), 149–176; Magni, C. A. (2004) Economic Modelling 21, 595–617]. The model translates the notion of excess profit giving formal expression to a counterfactual alternative available to the decision maker. Relations with other decomposition models are studied, among which Stewart’s [Stewart, G.B. (1991), The Quest for Value: (...) The EVA™ Management Guide, Harper Collins, Publishers Inc]. The index here introduced differs from Stewart’s Economic Value Added (EVA) in that it rests on a different interpretation of the notion of excess profit and is formally connected with the EVA model by means of a shadow project. The SVA is formally and conceptually threefold, in that it is economic, financial, accounting-flavoured. Some results are offered, providing sufficient and necessary conditions for decomposing NFV. Relations between a project’s SVA and its shadow project’s EVA are shown, all results of Pressacco and Stucchi [Pressacco, F. and Stucchi, P. (1997), Rivista di Matematica per le Scienze Economiche e Sociali 20, 165–185] are proved by making use of the systemic approach and the shadow counterparts of those results are also shown. (shrink)

The World Trade Organization (WTO) is a multilateral trade organization that, at least partially, governs trade relations between its member states. The WTO (2011a) proclaims that its “overriding objective is to help trade flow smoothly, freely, fairly and predictably.” The WTO is a “treaty-based” organization – it has been constituted through an agreed, legally binding treaty made up of more than 30 articles, along with additional commitments by some members in specific areas. At present, 153 states are members of the (...) WTO, which collectively make up over 97 percent of all trade worldwide (WTO 2011b). Together, the WTO treaty specifies the rights and obligations of its member states. To become a member of the WTO, a state must treat the agreement as a “single undertaking.” Members cannot choose à la carte which agreements – for example, regarding tariffs, or trade in services or intellectual property – they want to accede to and which they do not. Instead, they must take on the obligations of the agreement in toto. The WTO is one of the most consequential governance institutions in the world, a lodestar of political debate about globalization (see globalization), attracting increased interest from moral and political philosophers in recent years (James 2006; Moellendorf 2005; Risse 2007; Brock 2009). (shrink)

'Trade in Health is a timely reflection on the interface of economics with the ethics and public policy facets of the international movement of patients. Health issues such as these are at the forefront of modern political economy."National" health is increasingly less so. Reisman's previous scholarship in this area is brought to bear in an insightful and eminently readable and engaging fashion. In an area where uncovering the facts is more difficult than "decyphering the Dead Sea Scrolls", such a reflective (...) work on the critical aspects of political economy helps to fill a void in considering whether such trade is likely to be in the interests of patients, nations and the global community. In addition to the rosy picture of healthy and wealthy tourists having a sojourn for medical care during a vacation, Reisman is not afraid to tackle the thorny issues concerning trade in organs, eggs and even death, in this sobering and comprehensive volume. It is a rare skill to bring the luminaries of Smith, Marshall, Mill and Confucius to bear on such a contemporary tale! International travel by patients is at the nexus of a revolution in global health. It is driving and affecting aspects of foreign investment, health worker migration and e-health provision. Reisman skilfully links these foundations of health care, and as such provides critical text for consideration by those seeking to build and strengthen future health systems. Trade in Health is an excellent overview. It provides critical insights for those new to the area as well as new information and challenges for those of us involved for a number of years.' - Richard Smith, Professor of Health Ssytem Economics and Dean of Faculty of Public Health and Policy, London School of Hygiene & Tropical Medicine, UK. Once exports and imports meant agriculture and industry. In the global economy and the electronic age, trade is also expanding into the service sector. This timely book closely examines trade in health. It documents the growth of a cross-national service that in the past was mainly consumed at home. Following from his highly successful book Health Tourism, Professor David Reisman offers a comprehensive and searching multidisciplinary account of the way in which medical services, patients, capital and professionals are making up a global healthcare economy that crosses borders. He reflects on their pursuit of lower prices, better quality and a differentiated product, and suggests that public policy is essential if the ethical capital of interdependent societies is not to be eroded by the international market in health and care. Written in a concise and lucid form, this original book will be of great interest to all people interested in the internationalization of health care. Combining theory and empirical evidence from economics, tourism and medical care, scholars involved in health policy and social administration will find much of significance in this authoritative study. (shrink)

Good epistemic practices are essential to the well-functioning of organizations. Epistemic practices are adopted norms, policies, procedures, and general methodologies that further our epistemic aims or realize our epistemic values. This chapter argues for the importance of organizational good epistemic practices through an analysis of the failures of risk management implicated in JPMorgan’s notorious ‘London Whale’ trading losses, which roiled the financial markets in 2012. A number of these failures of risk management exemplified ways in which we, as fallible (...) reasoners, may be prone to error individually and collectively. Good epistemic practices inter alia anticipate and endeavor to correct for erroneous patterns of reasoning. They help guard against future epistemic failings, and they support good reasoning within and on the part of organizations. In so doing, they constitute some of the key structural elements of organizational epistemic virtues. (shrink)

The international trading system remains a locus of fierce social conflict. The protesters who besiege gatherings of its managers—most famously on the streets of Seattle at the turn of the millennium—regard it with suspicion and hostility, as a threat to their livelihoods, an enemy of global justice, and their grievances are exploited by populist statesmen peddling their own mercantilist agendas. If we are to support the trading system, we must first assure ourselves that it can withstand moral scrutiny. (...) We must ensure that it works for and not against those whom it envelops; that it serves to emancipate, not ensnare. While there is an extensive literature addressing the economic and legal aspects of trade, the ethical questions its raises have escaped close inspection. This book contributes to resetting the balance. It grapples with moral quandaries relating to world politics, globalization, and international commerce, and recognizes that resolving these problems is essential if we are to move toward a world in which trade justice is a reality. (shrink)

The popularity of direct-to-consumer genetic ancestry services has exploded over the past five years, with as many as 250 direct-to-consumer genetic ancestry testing companies currently operating and estimates that 1 in 5 Americans are customers of one or more of those companies. Marketing of genetic ancestry testing has consistently linked the results of DNA testing to a consumer’s racial and ethnic identity, and, because of that, can help consumers find out “who they really are.” We argue that the “biologization” of (...) race and ethnicity promoted in such marketing violates norms of marketing ethics. In particular, we show that this marketing technique violates a number of the core commitments and values of the American Marketing Association Statement of Ethics. (shrink)

The US and China have both benefited greatly from their trading relationship. However, motivated by a US concern that their partner was becoming more of a rival, then-president Donald Trump began a ‘trade war’ in 2018. In US news outlets and, of particular interest here, on American social media platforms, China was represented as a global menace, with extreme xenophobia against Chinese people. Yet less is known about how Chinese people responded on social media to the same situation. This (...) paper explores the discourses carried on the Chinese social media platform Weibo, focusing on the 2021 Alaska talks between the US and China, where negotiations took place. As with their US counterparts, Weibo users comment little on actual trade benefits or damages caused by the conflict. We find a strong sense of nationalism, but this is not based on xenophobia; rather on a discourse comparing the talks to similar events early in the twentieth century, where the ‘Century of Humiliation’ began, and where territories such as Hong Kong, Taiwan and Shaoshan were taken by colonial powers. Foregrounded is China’s ability now to end this humiliation. (shrink)

Abstract:Trust is important for a variety of social relationships. Trust facilitates trade, which increases prosperity and induces us to interact with people of different backgrounds on terms that benefit all parties. Trade promotes trustworthiness, which enables us to form meaningful as well as mutually beneficial relationships. In what follows, I argue that when we erect institutions that enhance trust and reward people who are worthy of trust, we create the conditions for a certain kind of moral progress.

“States have no morality, they have interests,” remarked an overzealous diplomat. And in this same manner we sometimes see that reasons of state take priority over moral rules. A sweet young thing testifying before a committee of the United State Congress said “sometimes you have to put yourself above the law,” no doubt repeating something that had been said to her. At a time when unrestrained application of the reasons of state can only lead to violence that can no longer (...) be sustained, we can judge to what extent such remarks are without foundation. (shrink)

Fair trade aims at humanising the capitalist economy by serving the community, instead of simply striving for financial profit. The current fair trade sector is an excellent example of an innovation where networks based on ethical principles can help to effectively serve this market. Our analysis is based on 48 interviews amongst fair trade innovators in France and illustrates the advent of a new type of entrepreneur, one that is grounded in the social and solidarity economy (SSE). Based on a (...) service-dominant logic, these innovators aim to construct a 'new world' centred on trade relationships by integrating the role of multiple-player networks into the creation of value in the market. (shrink)

In his 1966 paper “The Strategy of model-building in Population Biology”, Richard Levins argues that no single model in population biology can be maximally realistic, precise and general at the same time. This is because these desirable model properties trade-off against one another. Recently, philosophers have developed Levins’ claims, arguing that trade-offs between these desiderata are generated by practical limitations on scientists, or due to formal aspects of models and how they represent the world. However this project is not complete. (...) The trade-offs discussed by Levins had a noticeable effect on modelling in population biology, but not on other sciences. This raises questions regarding why such a difference holds. I claim that in order to explain this finding, we must pay due attention to the properties of the systems, or targets modelled by the different branches of science.Keywords: Trade-offs; Population biology; Scientific models; Generality; Precision. (shrink)

After nearly 20 years of work by activists, fair trade, a movement establishing alternative trading organizations to ensure minimal returns, safe working conditions, and environmentally sustainable production, is now gaining steam, with increasing awareness and availability across a variety of products. However, this article addresses several major remaining challenges: (a) a lack of agreement about what fair trade really means and how it should be certified; (b) uneven awareness and availability across different areas, with marked differences between some parts (...) of Europe and North America that reflect more fundamental debates about distribution; (c) larger questions about the extent of the potential contribution of fair trade to development under the current system, including limitations on the number and types of workers affected and the fair trade focus on commodity goods. (shrink)

The phrase ‘trading zone’ is often used to denote any kind of interdisciplinary partnership in which two or more perspectives are combined and a new, shared language develops. In this paper we distinguish between different types of trading zone by asking whether the collaboration is co-operative or coerced and whether the end-state is a heterogeneous or homogeneous culture. In so doing, we find that the voluntary development of a new language community—what we call an inter-language trading zone—represents (...) only one of four possible configurations. In developing this argument we show how different modes of collaboration result in different kinds of trading zone, how different kinds of trading zone may be ‘nested’ inside each other and discuss how a single collaboration might move between different kinds of trading zone over time. One implication of our analysis is that interactional expertise is a central component of at least one class of trading zone.Keywords: Trading zones; Interactional expertise; Interdisciplinarity; Creole. (shrink)

Since the development of assisted reproductive technologies, infertile individuals have crossed borders to obtain treatments unavailable or unaffordable in their own country. Recent media coverage has focused on the outsourcing of surrogacy to developing countries, where the cost for surrogacy is significantly less than the equivalent cost in a more developed country. This paper discusses the ethical arguments against international surrogacy. The major opposition viewpoints can be broadly divided into arguments about welfare, commodification and exploitation. It is argued that the (...) only valid objection to international surrogacy is that surrogate mothers may be exploited by being given too little compensation. However, the possibility of exploitation is a weak argument for prohibition, as employment alternatives for potential surrogate mothers may be more exploitative or more harmful than surrogacy. It is concluded that international surrogacy must be regulated, and the proposed regulatory mechanism is termed Fair Trade Surrogacy. The guidelines of Fair Trade Surrogacy focus on minimizing potential harms to all parties and ensuring fair compensation for surrogate mothers. (shrink)

On the traditional relationalist conception of singular thought, a thought has singular content when it is based on an ‘information relation’ to its object. Recent work rejects relationalism and suggests singular thoughts are distinguished from descriptive thoughts by their inferential role: only thoughts with singular content can be employed in ‘direct’ inferences, or inferences that ‘trade on identity’. Firstly this view is insufficiently clear, because it conflates two distinct ideas—one about a kind of inference, the other a kind of process (...) that grounds inferences—under the title, ‘trading on identity’. Secondly, this leaves us without a notion that can be used as an alternative to relationalism about singular thought. The first notion is no more applicable to singular than to descriptive thought. The second may help us better understand singular thought, but does so, not by replacing the view that singular thoughts are information-based, but by helping us understand the nature of information-based thought. (shrink)

The paper begins by locating the issue of trade within the broader literature on international and global justice. It then sets out eight different conceptions of ‘fair trade’, and examines the principles that lie behind them. They fall into three broad categories: procedural fairness accounts, which apply principles of equal treatment to the international rules under which trade takes place; producers’ entitlement accounts, which claim that trade must be structured so that all participants are safeguarded against harms such as exploitation (...) or poverty; and fair exchange accounts, which require trade to be conducted on terms that produce a particular division of resources or benefits between the trading partners. These conceptions are partly complementary, but may on occasion pull in different directions, requiring us to reflect on the relative weights we attach to different aspects of fairness in trade. (shrink)

The number of distributors selling Fair Trade products is constantly increasing. What are their motivations to distribute Fair Trade products? How do they organise this distribution? Do they apply and communicate the Fair Trade values? This research, based on five case studies in Switzerland, aims at understanding and structuring the strategies and the managerial practices related to Fair Trade product distribution, as well as analysing if they denote an engagement with Fair Trade principles. The results show a high heterogeneity of (...) strategies and engagement. In general, strategies implemented by mainstream actors contribute to increase Fair Trade global sales but do not convey the transformative message of Fair Trade through their engagement. The latter is rather communicated through alternative channels. Problems and potential solutions to this issue are discussed. (shrink)

In this book, Christian Barry and Sanjay G. Reddy propose ways in which the international trading system can support poor countries in promoting the well-being of their peoples.

We argue that deliberative decision-making that is inclusive, transparent and accountable can contribute to more trustworthy and legitimate decisions on difficult ethical questions and political trade-offs during the pandemic and beyond.

The paper begins by locating the issue of trade within the broader literature on international and global justice. It then sets out eight different conceptions of ‘fair trade’, and examines the principles that lie behind them. They fall into three broad categories: procedural fairness accounts, which apply principles of equal treatment to the international rules under which trade takes place; producers’ entitlement accounts, which claim that trade must be structured so that all participants are safeguarded against harms such as exploitation (...) or poverty; and fair exchange accounts, which require trade to be conducted on terms that produce a particular division of resources or benefits between the trading partners. These conceptions are partly complementary, but may on occasion pull in different directions, requiring us to reflect on the relative weights we attach to different aspects of fairness in trade. (shrink)

Fair Trade has changed considerably since its early days. In this article, we argue that these changes have led to a depersonalization of ethics, thus raising serious questions about the future of Fair Trade. In particular, the depersonalization of ethics which is seen to accompany the current changes has led to greater variety in the interpretations of Fair Trade. Hiding these divergences behind the labels is increasing the risk that the movement will lose its credibility.

This paper explores the claims made by various authors that the fair-trade network provides an initial basis for a challenge to the commodification of goods under global capitalism. Proponents of fair trade generally advance two essential arguments in this regard. First, they claim that fair trade reveals the social and environmental conditions under which goods are produced and brings producers and consumers together through 'ethical consumerism', which challenges the commodification of goods into items with an independent life of their own. (...) Second, they argue that fair trade affirms non-economic values of co-operation and solidarity which challenge the capitalist imperatives of competition, accumulation, and profit-maximisation. Drawing from cases in the fair-trade coffee sector, these assertions are critically examined and it is argued that, while fair trade can provide a symbolic challenge to commodity fetishism, in the end this challenge is strictly limited by the power of global market imperatives and the network's market-driven approach. (shrink)

“States have no morality, they have interests,” remarked an overzealous diplomat. And in this same manner we sometimes see that reasons of state take priority over moral rules. A sweet young thing testifying before a committee of the United State Congress said “sometimes you have to put yourself above the law,” no doubt repeating something that had been said to her. At a time when unrestrained application of the reasons of state can only lead to violence that can no longer (...) be sustained, we can judge to what extent such remarks are without foundation. (shrink)

As we combat the COVID-19 pandemic, both the prescription of antimicrobials and the use of biocidal agents have increased in many countries. Although these measures can be expected to benefit existing people by, to some extent, mitigating the pandemic's effects, they may threaten long-term well-being of existing and future people, where they contribute to the problem of antimicrobial resistance (AMR). A trade-off dilemma thus presents itself: combat COVID-19 using these measures, or stop using them in order to protect against AMR. (...) Currently, I argue, we are choosing to continue with these measures, and thus to prioritize combatting COVID-19, without adequate ethical reflection on the AMR-associated costs of these measures. I discuss the magnitude of the possible costs and benefits involved in making the trade-off in favour of COVID-19, and their distribution. I highlight two salient aspects of distribution that can help determine whether combatting COVID-19 whilst exacerbating AMR produces justly distributed costs and benefits: distribution between current and future populations, and distribution between existing geographical populations. Adopting this account, I argue that based on the magnitude and distribution of costs and benefits of combatting COVID-19, we have good reason to rethink this trade-off, and instead consider prioritizing protecting current and future people against AMR, but jettisoning measures against COVID-19 that also exacerbate AMR. (shrink)

This article examines the development of and contestation over the standards for certified fair trade, with particular attention to the U.S. context. It charts fair trade's rapid growth in the United States since the 1999 advent of formal certification, explores the controversies generated by the strategy of market mainstreaming in the sector, and focuses on five key issues that have generated particularly heated contention within the U.S. fair trade movement. It offers a theoretical framework based in the literatures on agrifood (...) systems, social movements, and public-choice economics, for understanding the corporate response to alternative markets such as fair trade. The article suggests a typology of responses by social movement actors to this increased corporate participation, and assesses the relevance of the U.S. case for the future prospects of fair trade, both in other national contexts and as an international movement. (shrink)

As we combat the COVID-19 pandemic, both the prescription of antimicrobials and the use of biocidal agents have increased in many countries. Although these measures can be expected to benefit existing people by, to some extent, mitigating the pandemic's effects, they may threaten long-term well-being of existing and future people, where they contribute to the problem of antimicrobial resistance (AMR). A trade-off dilemma thus presents itself: combat COVID-19 using these measures, or stop using them in order to protect against AMR. (...) Currently, I argue, we are choosing to continue with these measures, and thus to prioritize combatting COVID-19, without adequate ethical reflection on the AMR-associated costs of these measures. I discuss the magnitude of the possible costs and benefits involved in making the trade-off in favour of COVID-19, and their distribution. I highlight two salient aspects of distribution that can help determine whether combatting COVID-19 whilst exacerbating AMR produces justly distributed costs and benefits: distribution between current and future populations, and distribution between existing geographical populations. Adopting this account, I argue that based on the magnitude and distribution of costs and benefits of combatting COVID-19, we have good reason to rethink this trade-off, and instead consider prioritizing protecting current and future people against AMR, but jettisoning measures against COVID-19 that also exacerbate AMR. (shrink)

Some regularities enjoy only an attenuated existence in a body of training data. These are regularities whose statistical visibility depends on some systematic recoding of the data. The space of possible recodings is, however, infinitely large – it is the space of applicable Turing machines. As a result, mappings that pivot on such attenuated regularities cannot, in general, be found by brute-force search. The class of problems that present such mappings we call the class of “type-2 problems.” Type-1 problems, by (...) contrast, present tractable problems of search insofar as the relevant regularities can be found by sampling the input data as originally coded. Type-2 problems, we suggest, present neither rare nor pathological cases. They are rife in biologically realistic settings and in domains ranging from simple animat behaviors to language acquisition. Not only are such problems rife – they are standardly solved! This presents a puzzle. How, given the statistical intractability of these type-2 cases, does nature turn the trick? One answer, which we do not pursue, is to suppose that evolution gifts us with exactly the right set of recoding biases so as to reduce specific type-2 problems to type-1 mappings. Such a heavy-duty nativism is no doubt sometimes plausible. But we believe there are other, more general mechanisms also at work. Such mechanisms provide general strategies for managing problems of type-2 complexity. Several such mechanisms are investigated. At the heart of each is a fundamental ploy – namely, the maximal exploitation of states of representation already achieved by prior, simpler learning so as to reduce the amount of subsequent computational search. Such exploitation both characterizes and helps make unitary sense of a diverse range of mechanisms. These include simple incremental learning, modular connectionism, and the developmental hypothesis of “representational redescription”. In addition, the most distinctive features of human cognition – language and culture – may themselves be viewed as adaptations enabling this representation/computation trade-off to be pursued on an even grander scale. (shrink)

This article begins by distinguishing between two approaches to egalitarian trade justice – the explicative approach and the applicative approach – and notes that the former has been used to defend conclusions that are less strongly egalitarian than those defended by advocates of the latter. The article then engages with the primary explicative account of trade egalitarianism – that offered by Aaron James – and argues that its egalitarian conclusions are unduly minimalistic. The aim of the article is not to (...) criticize the explicative approach, but rather to show that the arguments and commitments of its best-known defender – James – either fail to rule out, or in fact positively support, more robustly egalitarian conclusions. (shrink)

Some regularities enjoy only an attenuated existence in a body of training data. These are regularities whose statistical visibility depends on some systematic recoding of the data. The space of possible recodings is, however, infinitely large type-2 problems. they are standardly solved! This presents a puzzle. How, given the statistical intractability of these type-2 cases, does nature turn the trick? One answer, which we do not pursue, is to suppose that evolution gifts us with exactly the right set of recoding (...) biases so as to reduce specific type-2 problems to (tractable) type-1 mappings. Such a heavy-duty nativism is no doubt sometimes plausible. But we believe there are other, more general mechanisms also at work. Such mechanisms provide general (not task-specific) strategies for managing problems of type-2 complexity. Several such mechanisms are investigated. At the heart of each is a fundamental ploy representational redescription language and culture – may themselves be viewed as adaptations enabling this representation/computation trade-off to be pursued on an even grander scale. (shrink)

Anyone familiar with The Economist knows the mantra: Free trade will ameliorate poverty by increasing growth and reducing inequality. This paper suggests that problems underlying measurement of poverty, inequality, and free trade provide reason to worry about this argument. Furthermore, the paper suggests that better evidence is necessary to establish that free trade is causing inequality and poverty to fall. Experimental studies usually provide the best evidence of causation. So, the paper concludes with a call for further research into the (...) prospects for ethically acceptable experimental testing of free trade's impact on poverty and inequality. Although the paper is unabashedly methodological, its conclusions bear on many ethical debates. Ethicists sometimes argue, for instance, that there is reason to encourage free trade because they believe free trade is decreasing poverty and inequality. Clarifying the empirical facts may not settle ethical debates but it may inform them. (shrink)

Even though female food acquisition is an area of considerable interest in hunter-gatherer research, the ecological determinants of women’s economic decisions in these populations are still poorly understood. The literature on female foraging behavior indicates that there is considerable variation within and across foraging societies in the amount of time that women spend foraging and in the amount and types of food that they acquire. It is possible that this heterogeneity reflects variation in the trade-offs between time spent in food (...) acquisition and child care activities that women face in different groups of hunter-gatherers. In this paper we discuss the fitness trade-offs between food acquisition and child care that Hiwi and Ache women foragers might face. Multiple regression analyses show that in both populations the daily food acquisition of a woman’s spouse is negatively related to female foraging effort. In addition, nursing mothers spend less time foraging and acquire less food than do nonnursing women. As the number of dependents that a woman has increases, however, women also increase foraging time and the amount of food they acquire. Some interesting exceptions to these general trends are as follows: (a) differences in foraging effort between nursing and nonnursing women are less pronounced when fruits and roots are in season than in other seasons of the year; (b) foraging return rates decrease for Ache women as their numbers of dependents increase; and (c) among Ache women, the positive effect of number of dependents on foraging behavior is less pronounced when fruits are in season than at other times of the year. Lastly, in the Hiwi sample we found that postreproductive women work considerably harder than women of reproductive age in the root season but not in other seasons of the year. We discuss how ecological variation in constraints, the number of health insults to children that Hiwi and Ache mothers can avoid, and the fitness benefits they can gain from spending time in food acquisition and child care might account for differences and similarities in the foraging behaviors of subgroups of Hiwi and Ache mothers across different seasons of the year. Valid tests of the explanations we propose will require considerable effort to measure the relationship between maternal food acquisition, child care, and adverse health outcomes in offspring. (shrink)

Cap-and-trade systems for greenhouse gas emissions are an important part of the climate change policies of the EU, Japan, New Zealand, among others, as well as China and Australia. However, concerns have been raised on a variety of ethical grounds about the use of markets to reduce emissions. For example, some people worry that emissions trading allows the wealthy to evade their responsibilities. Others are concerned that it puts a price on the natural environment. Concerns have also been raised (...) about the distributional justice of emissions trading. Finally, some commentators have questioned the actual effectiveness of emissions trading in reducing emissions. This paper considers these three categories of objections – ethics, justice and effectiveness – through the lens of moral philosophy and economics. It is concluded that only the objections based on distributional justice can be sustained. This points to reform of the carbon market system, rather than its elimination. (shrink)

Megaregional trade negotiations have become the subject of heated debate, above all in the context of the Transatlantic Trade and Investment Partnership and the Trans-Pacific Partnership. In this article, I argue that the justice of the global order suffers from its institutional fragmentation into regime complexes. From a republican perspective, which aspires to non-domination as a guiding principles and idea of global justice, regime complexes raise specific and important challenges in that they open the door to specific forms of domination. (...) I thereby challenge a more optimistic outlook in regime complexes, which paints a positive normative picture of regime complexes, arguing that they enable the enhancement of democracy beyond the state and, consequently, have the potential to reduce the democratic deficit in global governance. By drawing attention to how regime complexes reinforce domination-related injustice, this article contributes an original perspective on megaregionals and to exploring the implications of global justice as non-domination. (shrink)

Fair trade is an ethical alternative to neoliberal market practices. This article examines the development of the fair trade movement, both in Mexico and abroad, beginning with the experience of UCIRI (Unión de Comunidades Indígenas de la Región del Istmo – Union of Indigenous Communities of the Isthmus Region), an association of small coffee growers in Mexico and a main actor in the creation of the first fair trade seal in the world, Max Havelaar, in 1988. Future success of the (...) fair trade movement depends mainly on resolving the tension between the capitalist business goals and the activist transformation goals of its diverse practitioners. (shrink)

Although emissions trading is embraced as a means to curb carbon emissions and to incentivize the use of renewable energy, it is also heavily contested on ethical grounds. We will assess the main fundamental objections and possible counterarguments. Although we sympathize with some of these arguments, we argue that they are unpersuasive when an emissions trading system is well designed: emissions should be accounted ‘upstream,’ on the production rather than the consumer level. Moreover, allowances should be auctioned, and (...) regulatory measures could instigate the right kind of behavior towards the environment. (shrink)

Insider trading has received a bad name in recent decades. The popular press makes it sound like an evil practice where those who engage in it are totally devoid of ethical principles. Yet not all insider trading is unethical and some studies have concluded that certain kinds of insider trading are actually beneficial to the greater investment community. Some scholars in philosophy, law and economics have disputed whether insider trading should be punished at all while others (...) assert that it should be illegal in all cases. This paper explores the nature of insider trading and analyzes the issues to determine the positive and negative aspects of insider trading, and how policy should be changed. The best hope would be for studies to be made that isolate the individuals or groups who are fraudulently harmed by insider trading. If any such groups exist, then clearly worded legislation could be passed to prevent any fraud from being committed against these individuals and groups, while allowing non-fraudulent transactions to be completed without fear of prosecution. Until it can be clearly determined that someone is fraudulently harmed by insider trading, there should be no law or regulation restricting the practice, since such restrictions violate individual rights and will likely have a negative market reaction. (shrink)

There is growing concern that decision-making informed by machine learning (ML) algorithms may unfairly discriminate based on personal demographic attributes, such as race and gender. Scholars have responded by introducing numerous mathematical definitions of fairness to test the algorithm, many of which are in conflict with one another. However, these reductionist representations of fairness often bear little resemblance to real-life fairness considerations, which in practice are highly contextual. Moreover, fairness metrics tend to be implemented in narrow and targeted toolkits that (...) are difficult to integrate into an algorithm’s broader ethical assessment. In this paper, we derive lessons from ethical philosophy and welfare economics as they relate to the contextual factors relevant for fairness. In particular we highlight the debate around acceptability of particular inequalities and the inextricable links between fairness, welfare and autonomy. We propose Key Ethics Indicators (KEIs) as a way towards providing a more holistic understanding of whether or not an algorithm is aligned to the decision-maker’s ethical values. (shrink)

Fair trade is at a critical juncture as a social movement. In the midst of a sales boom and vastly increased visibility, the tensions and contradictions that exist within the movement are intensifying. In particular, expansion of the fair-trade system to cover new commodities, and the process of 'mainstreaming' fair trade have opened rifts in the movement and called into question the meaning of 'fairness'. This essay reviews three recent books on fair trade, and examines current threats to the system, (...) as well as fair trade's potential for supporting a broad process of social, economic, political, and ecological transformation. (shrink)

Fair Trade coffee campaigns have improved the lives of small-scale coffee farmers and their families by raising wages, creating direct trade links to farming cooperatives, and providing access to affordable credit and technological assistance. Consumer demand for Fair Trade certified coffee is at an all-time high, yet cooperatives that produce it are only able to sell about half of their crops at the established fair trade price. This article explores the reasons behind this gap between supply and demand and suggests (...) ways to close it. The authors also offer some perspective on the limits of ethical consumption campaigns such as Fair Trade coffee. (shrink)

In On Trade Justice, Risse and Wollner defend an account of trade justice on which the central requirement, applying to both states and firms, is a requirement of non-exploitation. On their view, trade exploitation consists in ‘power-induced failure of reciprocity’, which generates an unfair distribution of the benefits and burdens associated with trade relationships. In this paper, I argue that while there are many appealing features of Risse and Wollner’s account, their discussion does not articulate and develop the unified picture (...) of states’ and firms’ obligations that they aim to provide as clearly as it might have. In particular, it is, I claim, unclear exactly how they understand the relationship between the fairness-based requirements that apply to states and those that apply to firms. I argue that there are two types of accounts that they might accept: a transactional account and a structural account. I offer reasons to think that there are reasons to prefer a structural account. In addition, I note some of the key implications of accepting such an account, and suggest that if Risse and Wollner accept these implications and revise other aspects of their view accordingly, the result is a plausible and unified account of what trade justice requires. (shrink)

In this paper, we provide as accurate a picture as possible of transnational trade in human eggs involving Canadians. We explain the legal status in Canada, and call for reform in the regulation, of such trade.

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

The common view is that insider trading is always unethical and illegal. But such is not the case. Some forms of insider trading are legal. Furthermore, applying ethical principles to insider trading causes one to conclude that it is also sometimes ethical. This paper attempts to get past the hype, the press reports, and the political grandstanding to get to the truth of the matter. The author applies two sets of ethical principles – utilitarianism and rights theory (...) – in an attempt to determine when, and in what circumstances, insider trading is ethical. The views of Henry Manne, an early proponent of insider trading, are critically examined, as are the major arguments against insider trading. Is insider trading good for the company if it is used as a form of executive compensation which makes it possible to pay lower salaries than would otherwise be the case? Does insider trading cause the stock market to work more efficiently? If insider trading does increase efficiency, is that sufficient to call for its total legalization, or are there other things to be considered? Several arguments against insider trading have been put forth over the last few decades but there are problems with all of them. One of the main arguments is the fairness argument. The problem with this argument is that different people have different definitions of unfairness. A closely related argument is the level playing field argument, which advocates wider dissemination of information so that it is less asymmetric. One problem with the level playing field argument is that it is better applied to sporting competitions than to trading in information. Some economists argue that forcing the disclosure of nonpublic information can actually result in more harm than good and must necessarily involve the violation of property rights. Other arguments examined in this chapter include the fiduciary duty argument, the problem of outside traders, the misappropriation doctrine and the restrictions that insider trading laws place on freedom of speech and press. The article concludes by setting forth some principles or guidelines to determine when insider trading should be punished and when it should not. (shrink)

This article engages various critiques of Fair Trade, from its participation in commodification to providing a cover for "Fair-washing" corporations, and argues that Fair Trade has the potential to answer the challenges contained within them if and when it initiates an ongoing process of developing the "ethical valuedadded" content of the label. This argument is made in a number of ways. First, by distinguishing between economic and human development impacts and ethics, this article argues that these impacts are necessary but (...) not sufficient conditions for ethical trade. Second, it engages the question of the possibility of ethical practice in economics generally; developing the idea that when economics is concerned with securing the material basis of a broad range of life capacities it becomes ethical. Third, Fair Trade practice itself is examined from this standpoint, and is conceived of as both comprising a promising ethical value-added practice as well as posing a problem in its current formulation that the framework of ethical valueadded can help understand and resolve. Finally, an examination of these theoretical ideas in practice is undertaken through a case study of Café Femenino, a Fair Trade coffee produced in Peru. In conclusion it is argued that for Fair Trade to build upon its economic and human impacts, and therefore remain a meaningful ethical and economic alternative to corporate capitalism and globalization, it must distinguish itself clearly in ethics from those market relations it wishes, explicitly or implicitly, to challenge. (shrink)

The certification-based Fair Trade initiative has been steadily growing during the last two decades. While many scholars have analyzed its main characteristics and developments, only a few have assessed it against a concept of justice. And those exceptional cases have only focused on distributive justice, proving unable to grasp the important ethical elements that Fair Trade integrates in its project. In reaction to this, this article intends to critically examine what the Fair Trade movement proposes to be ‘fair’ by resorting (...) to the thought of the French philosopher Emmanuel Lévinas. To accomplish this goal, a new understanding of his conception of justice is presented, one that seeks to overcome the limitations that the two most common interpretations in the literature suffer. The idea of Lévinas’ ‘dialectics of justice’ is used to discuss Fair Trade’s relation of alterity, its appropriation of the notion of ‘face’ and its commitment to and responsibility for marginalized producers and workers. This analysis shows that Fair Trade operates with what could be described as a fetishized understanding of Levinasian ethics that justifies a deeply unjust praxis. (shrink)

It is strange, indeed, to have devoted one's life to an obscure topic and to sense it suddenly as a focus of political passion. It is also a unique opportunity: when a country like France, so long a victim of protectionism, makes ready to give it a new impetus, when another, the United States, hopefully cured, envisages it as the stock issue of an electoral campaign, it is fitting to search for motivations which preserve world-wide restrictive practices no longer defensible (...) in theory. Thus, a comportment is discovered first found in international trade then invading the most variegated fields and explaining in large measure the rise of the day's great problems: unemployment, the financial crisis and the armament race. (shrink)