Moral Markets

Author: Paul J. Zak
Publisher: Princeton University Press
ISBN: 9781400837366
Format: PDF, Mobi
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Like nature itself, modern economic life is driven by relentless competition and unbridled selfishness. Or is it? Drawing on converging evidence from neuroscience, social science, biology, law, and philosophy, Moral Markets makes the case that modern market exchange works only because most people, most of the time, act virtuously. Competition and greed are certainly part of economics, but Moral Markets shows how the rules of market exchange have evolved to promote moral behavior and how exchange itself may make us more virtuous. Examining the biological basis of economic morality, tracing the connections between morality and markets, and exploring the profound implications of both, Moral Markets provides a surprising and fundamentally new view of economics--one that also reconnects the field to Adam Smith's position that morality has a biological basis. Moral Markets, the result of an extensive collaboration between leading social and natural scientists, includes contributions by neuroeconomist Paul Zak; economists Robert H. Frank, Herbert Gintis, Vernon Smith (winner of the 2002 Nobel Prize in economics), and Bart Wilson; law professors Oliver Goodenough, Erin O'Hara, and Lynn Stout; philosophers William Casebeer and Robert Solomon; primatologists Sarah Brosnan and Frans de Waal; biologists Carl Bergstrom, Ben Kerr, and Peter Richerson; anthropologists Robert Boyd and Michael Lachmann; political scientists Elinor Ostrom and David Schwab; management professor Rakesh Khurana; computational science and informatics doctoral candidate Erik Kimbrough; and business writer Charles Handy.

What Money Can t Buy

Author: Michael J. Sandel
Publisher: Farrar, Straus and Giroux
ISBN: 1429942584
Format: PDF, ePub, Docs
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Should we pay children to read books or to get good grades? Should we allow corporations to pay for the right to pollute the atmosphere? Is it ethical to pay people to test risky new drugs or to donate their organs? What about hiring mercenaries to fight our wars? Auctioning admission to elite universities? Selling citizenship to immigrants willing to pay? In What Money Can't Buy, Michael J. Sandel takes on one of the biggest ethical questions of our time: Is there something wrong with a world in which everything is for sale? If so, how can we prevent market values from reaching into spheres of life where they don't belong? What are the moral limits of markets? In recent decades, market values have crowded out nonmarket norms in almost every aspect of life—medicine, education, government, law, art, sports, even family life and personal relations. Without quite realizing it, Sandel argues, we have drifted from having a market economy to being a market society. Is this where we want to be?In his New York Times bestseller Justice, Sandel showed himself to be a master at illuminating, with clarity and verve, the hard moral questions we confront in our everyday lives. Now, in What Money Can't Buy, he provokes an essential discussion that we, in our market-driven age, need to have: What is the proper role of markets in a democratic society—and how can we protect the moral and civic goods that markets don't honor and that money can't buy?

The Moral Molecule

Author: Paul J. Zak
Publisher: Penguin
ISBN: 0142196908
Format: PDF, ePub, Docs
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"Philosophy, economics, and biology have rarely been so entertaining."--Matt Ridley, author of Genome Paul J. Zak's proclivity for taking blood samples has earned him a nickname as the "vampire economist." But his sanguinary habit is backed by his scientifi�c quest: What if there was a master switch for human behavior? On, and people are loving and generous. Off, and they revert to violence and greed. By studying thousands of blood samples, Zak has pinpointed just such a switch: a brain chemical called oxytocin. Sprinting around the globe and into the human brain, �The Moral Molecule is a dazzling narrative as erudite and entertaining as bestsellers like Flow, Drive, and Why We Love.

Morality Governance and Social Institutions

Author: Thomas Christiano
Publisher: Springer
ISBN: 3319610708
Format: PDF
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This book reflects on the research and career of political theorist Russell Hardin from scholars of Political Science, Philosophy, Sociology, Economics, and Law, among other disciplines. Contributions address core issues of political theory as perceived by Hardin, starting with his insistence that many of the basic institutions of modern society and their formative historical beginnings can be understood as proceeding primarily from the self-interested motives of the participants. Many of the contributions in this volume struggle with the constraints imposed on political theorizing by the idea of self-interested agents, or homo economicus. Some reject the idea as empirically unfounded. Others try to show that homo economicus is even more versatile than Hardin depicts. And yet others accept the constraints and work within them. But all pay tribute to the lasting intellectual contribution of Russell Hardin and the challenge he poses. The book should appeal to scholars and students interested in collective action, public choice and democracy, moral reasoning and its limits, constitutionalism, liberalism, conventions and coordination, trust, identity politics, social epistemology, and methods in politics philosophy.

Moral Markets

Author: Nico Stehr
Publisher: Routledge
ISBN: 1317255925
Format: PDF
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Nothing affects modern society more than the decisions made in the marketplace, especially (but not only) the judgments of consumers. Stehr's designation of a new stage in modern societies with the term "moral markets" signals a further development in the social evolution of markets. Market theories still widely in use today emerged in a society that no longer exists. Consumers were hardly in evidence at all in early theories of the market. Today, growing affluence, greater knowledge, and high-speed communication among consumers builds into the marketplace notions of fairness, solidarity, environment, health, and political considerations imbued with a long-term perspective that can disrupt short-term pursuits of the best buy. Importantly, such social goals, individual apprehensions, and modes of consumer conduct become inscribed today in products and services offered in the marketplace, as well as in the rules and regulations that govern market relations. Stehr uses examples to illustrate these trends and build new theory fitting today's changing consumerism.

Markets Morals and Policy Making

Author: Enrico Colombatto
Publisher: Routledge
ISBN: 1136668071
Format: PDF, ePub, Mobi
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Free-market economics has attempted to combine efficiency and freedom by emphasizing the need for neutral rules and meta-rules. These efforts have only been partly successful, for they have failed to address the deeper, normative arguments justifying – and limiting – coercion. This failure has thus left most advocates of free-market vulnerable to formulae which either emphasize expediency or which rely upon optimal social engineering to foster different notions of the common will and of the common good. This book offers the reader a new perspective on free-market economics, one in which the defense of markets is no longer based upon the utilitarian claim that free markets are more efficient; rather, the defense of markets rests upon the moral argument that top-down coercive policy-making is necessarily in tension with the rights-based notion of justice typical of the Western tradition. In arguing for a consistent moral basis for the free-market view, we depart from both the Austrian and neoclassical traditions by acknowledging that rationality is not a satisfactory starting point. This rejection of rationality as the complete motivator for human economic behaviour throws constitutional economics and the law-and-economics tradition into new relief, revealing these approaches as governed by considerations derived by various notions of social efficiency, rather than by principles consistent with individual freedom, including freedom to choose. This book shows that the solution is in fact a better understanding of the lessons taught by the Scottish Enlightenment: the role of the political context is to ensure that the individual can pursue his own ends, free from coercion. This also implies individual responsibility, respect for somebody else’s preferences and for his entrepreneurial instincts. Social virtue is not absent from this understanding of politics, but rather than being defined through the priorities of policy-makers, it emerges as the outcome of interaction among self-determining individuals. The strongest and most consistent case for free-market economics, therefore, rests on moral philosophy, not on some version of static-efficiency theorizing. This book should be of interest to students and researchers focussing on economic theory, political economics and the philosophy of economic thought, but is also written in a non-technical style making it accessible to an audience of non-economists.

Social Capital and Risk Sharing

Author: Abbas Mirakhor
Publisher: Springer
ISBN: 1137476052
Format: PDF, Mobi
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This exciting new addition to Palgrave Studies in Islamic Banking, Finance, and Economics argues that social capital can facilitate rule-compliance and co-operation in the sharing of risk in financial and economic activities.

Moral Human Agency in Business

Author: Mona Margareta Ericson
Publisher: Cambridge University Press
ISBN: 1108386377
Format: PDF
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In recent years, corporate accounting scandals have received considerable media attention, raising concerns about unethical practice in the business world. Faced with a decline in society's trust in business, research into the ethics of organisations and their leaders is now of critical importance. In this timely book, Ericson focuses on the moral human agency involved in business by leading the reader through the full span of the activities involved in coffee production, from-bean-to-cup. Illustrating the ethical implications and opportunities involved in producing Löfbergs coffee, Ericson highlights the importance of the morally-imbued connections made between practitioners and other participants. These activities can contribute to a sustainable, profitable and competitive future whilst, at the same time, accounting for justice through a reciprocity of mutual benefit, respect and meaning. Promoting the reintroduction of ethics in strategy research, this book will be of great interest and use to strategy researchers, business leaders and sustainability directors.

The Moral Molecule

Author: Paul J. Zak
Publisher: Penguin
ISBN: 1101585552
Format: PDF, ePub, Docs
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A Revolution in the Science of Good and Evil Why do some people give freely while others are cold hearted? Why do some people cheat and steal while others you can trust with your life? Why are some husbands more faithful than others—and why do women tend to be more generous than men? Could they key to moral behavior lie with a single molecule? From the bucolic English countryside to the highlands of Papua New Guinea, from labs in Switzerland to his campus in Souther California, Dr. Paul Zak recounts his extraordinary stories and sets out, for the first time, his revolutionary theory of moral behavior. Accessible and electrifying, The Moral Molecule reveals nothing less than the origins of our most human qualities—empathy, happiness, and the kindness of strangers.

Reckoning with Markets

Author: James Halteman
Publisher: Oxford University Press
ISBN: 0199924260
Format: PDF, ePub, Mobi
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Undergraduate economics students begin and end their study of economics with the simple claim that economics is value free. Only in a policy role will values and beliefs enter into economic work; there can be little meaningful dialogue by economists about such personal views and opinions. This view, now well over 200 years old, has been challenged by heterodox thinkers in economics, and philosophers and social scientists outside the discipline all along the way. However, much of the debate in modern times has been narrowly focused on philosophical methodological issues on one hand or theological/sectarian concerns on the other. None of this filters down to the typical undergraduate even in advanced courses on the history of economic thought. This book presents the notion that economic thinking cannot escape value judgments at any level and that this understanding has been the dominant view throughout most of history. It shows how, from ancient times, people who thought about economic matters integrated moral reflection into their thinking. Reflecting on the Enlightenment and the birth of economics as a science, Halteman and Noell illustrate the process by which values and beliefs were excluded from economics proper. They also appraise the reader with relevant developments over the last half-century which offer promise of re-integrating moral reflection in economic research. With the advent of interdependency concepts and game theory, behavioral economics and the infusion of other social sciences, especially psychology, into economic considerations, the door is once again open to moral reflection. It is a sensitive subject that can be divisive for many and there is little if any assessable literature on the topic at the undergraduate level. One way to approach the subject is to follow the path of the great thinkers of the past and observe how they worked through economic issues from a set of values that was foundational to their thinking. This places moral thinking in a context illuminating the complexity and importance of moral reflection and illustrating its impact on the culture of the times. Reckoning with Markets follows this method with a deliberate effort to cast the material in terms that will engage the undergraduate student. A number of vignettes which apply the perspectives of key figures in the history of economic thought to modern values and policy questions are provided.