dunnettreader + moral_economy   33

(107) NOW Published: How Hume
How Hume and Kant Reconstruct Natural Law: Justifying Strict Objectivity  without Debating Moral Realism, Clarendon Press (2016)
Front matter including both overview TOC and very detailed TOC plus introductory chapter -- He explains in the intro how both Hume and Kant (via Rousseau) pursued "moral constructivist" approaches using a (modified) "natural law" framework - after Hume had successfully attacked weaknesses in traditional approach to natural law. Notes that "justice" traditionally one of the 2 branches of moral philosophy (the other ethics). He's especially concerned with failure of "business ethics " as cause of financial crisis and Great Recession - but "business ethics" meaningless without a framework of "Justice." His target audience includes lawyers and legal/jurisprudence students and scholars - he thinks legal positivism and legal realism has run out of steam. He returns to accountancy standards in final chapter. -- pdf is the same material as kindle sample -- downloaded via iPhone to DBOX
books  legal_system  constructivism  morality-objective  justice  legal_theory  norms  accountability  legal_realism  18thC  norms-business  downloaded  moral_sentiments  moral_economy  jurisprudence  morality-conventional  legal_positivism  accounting  moral_realism  moral_psychology  Hume  kindle-available  natural_law  moral_philosophy  morality  Kant 
july 2016 by dunnettreader
Paul Slack - Material Progress and the Challenge of Affluence in Seventeenth-Century England (2009)| JSTOR
Material Progress and the Challenge of Affluence in Seventeenth-Century England
Paul Slack
The Economic History Review
New Series, Vol. 62, No. 3 (Aug., 2009), pp. 576-603
Downloaded via iPhone to Sente
trade-policy  British_foreign_policy  17thC  British_Empire  inequality  article  agriculture  moral_economy  British_history  economic_growth  transport  downloaded  labor  trade  property_rights  progress  colonialism  mercantilism  ports  jstor  political_arithmetick  Sente  political_economy  improvement  economic_history  infrastructure 
april 2016 by dunnettreader
Garrett Hardin - The Tragedy of the Commons - Science Vol. 162 no. 3859 pp. 1243-1248, 13 December 1968 | From AAAS
DOI: 10.1126/science.162.3859.1243 -- The author is professor of biology, University of California, Santa Barbara. This article is based on a presidential address presented before the meeting of the Pacific Division of the American Association for the Advancement of Science at Utah State University, Logan, 25 June 1968. -- Abstract - The population problem has no technical solution; it requires a fundamental extension in morality. -- downloaded pdf to Note
article  economic_theory  rationality-economics  demography  commons  common_good  freedom  political_economy  political_culture  moral_philosophy  moral_economy  downloaded 
may 2015 by dunnettreader
François Jarrige, « E. P. Thompson, une vie de combat » | La Vie des idées, 6 janvier 2015
Grand historien de la classe ouvrière anglaise, figure intellectuelle majeure des débats sur le marxisme dans les années 1960-1970, militant antinucléaire à l’origine d’une critique écologiste du capitalisme : tels furent les visages multiples d’Edward Palmer Thompson, dont l’œuvre continue d’imprégner en profondeur l’ensemble des sciences sociales. -- the French are (re)discovering Thompson and his particular version of a Marxian approach that was highly allergic to Theory. -- extensive footnotes -- downloaded pdf to Note
article  books  historians  historians-and-politics  historiography  historiography-postWWII  20thC  social_history  Europe-Early_Modern  British_history  British_politics  18thC  19thC  working_class  Thompson_EP  moral_economy  morality-conventional  norms  Industrial_Revolution  Marxist  social_theory  social_sciences  political_philosophy  Marxism  industrialization  Whigs-oligarchy  property_rights  capitalism  capitalism-systemic_crisis  environment  sustainability  downloaded 
january 2015 by dunnettreader
Special Issue in Memory of Charles Tilly (1929–2008): Cities, States, Trust, and Rule - Contents | JSTOR: Theory and Society, Vol. 39, No. 3/4, May 2010
1 - Cities, states, trust, and rule: new departures from the work of Charles Tilly - Michael Hanagan and Chris Tilly [d-load] *-* 2 - Cities, states, and trust networks: Chapter 1 of 'Cities and States in World History' - Charles Tilly [d-load] *-* 3 - Unanticipated consequences of "humanitarian intervention": The British campaign to abolish the slave trade, 1807-1900 - Marcel van der Linden [d-load] *-* 4 - Is there a moral economy of state formation? Religious minorities and repertoires of regime integration in the Middle East and Western Europe, 600-1614 - Ariel Salzmann [d-load] *-* 5 - Inclusiveness and exclusion: trust networks at the origins of European cities - Wim Blockmans [d-load] *-* 6 - Colonial legacy of ethno-racial inequality in Japan - Hwaji Shin. *-* 7 - Legacies of empire? - Miguel Angel Centeno and Elaine Enriquez. *-* 8 - Cities and states in geohistory - Edward W. Soja [d-load] *-* 9 - From city club to nation state: business networks in American political development - Elisabeth S. Clemens [d-load] *-* 10 - Irregular armed forces, shifting patterns of commitment, and fragmented sovereignty in the developing world - Diane E. Davis *-* 11 - Institutions and the adoption of rights: political and property rights in Colombia - Carmenza Gallo *-* 12 - Taking Tilly south: durable inequalities, democratic contestation, and citizenship in the Southern Metropolis - Patrick Heller and Peter Evans *-* 13 - Industrial welfare and the state: nation and city reconsidered - Smita Srinivas *-* 14 - The forms of power and the forms of cities: building on Charles Tilly - Peter Marcuse [d-load] *-* 15 - Was government the solution or the problem? The role of the state in the history of American social policy
journal  article  jstor  social_theory  political_sociology  contention  social_movements  change-social  historical_sociology  nation-state  cities  city_states  urban_politics  urban_elites  urbanization  urban_development  economic_sociology  institutions  institutional_change  property_rights  civil_liberties  civil_society  political_participation  political_culture  inequality  class_conflict  development  colonialism  abolition  medieval_history  state-building  religious_culture  politics-and-religion  MENA  Europe-Early_Modern  Reformation  networks-business  US_history  US_politics  US_economy  welfare_state  power-asymmetric  power-symbolic  elites  elite_culture  imperialism  empires  trust  networks-social  networks-religious  networks  14thC  15thC  16thC  17thC  18thC  19thC  20thC  geohistory  moral_economy  military_history  militia  guerrillas  mercenaires  sovereignty  institution-building 
october 2014 by dunnettreader
The US News rankings are terrible for students. Why don't colleges stop them? - Vox
Horror stories re not just gaming the system but the lies and destructive treatment of prospective and enrolled students to say nothing of the distortion of educational values -- lots of links
US_society  college  education-higher  elites  managerialism  corruption  moral_economy 
september 2014 by dunnettreader
Suzanne J. Konzelmann - The political economics of austerity | Cambridge Journal of Economics 2013
Birkbeck, University of London. -- The 2007/08 financial crisis has reignited the debate about economic austerity. With the aim of understanding why a government would pursue such a policy in the current context of persistent economic recession, this article traces the social, political and economic developments that have together shaped the evolution of ideas about austerity, from the earliest theorising by the classical political economists some 300 years ago. Throughout the historical narrative, important analytical themes revolve around the arguments used to justify austerity—notably appeals to ethics and morality (reinforced by misleading analogies drawn between government budgets and the accounts of firms and households). These include concerns about inflation and the observed relationship between inflation and unemployment; ‘Ricardian equivalence’ and ‘non-Keynesian’ effects of austerity; and the correlation between public debt levels and economic growth. The class analytics of austerity—who bears the burden of austerity and who benefits—and the process by which alternative ideas penetrate the mainstream and reconstitute the conventional wisdom are also important analytical themes. -- downloaded pdf to Note
article  intellectual_history  political_economy  economic_theory  economic_sociology  economic_policy  17thC  18thC  19thC  20thC  21stC  Great_Recession  austerity  business_cycles  business-and-politics  ideology  macroeconomics  fiscal_policy  monetary_policy  inflation  unemployment  moral_economy  historical_sociology  class_conflict  public_opinion  public_finance  sovereign_debt  economic_growth  debt  debtors  creditors  intermediation  Labor_markets  downloaded  EF-add 
september 2014 by dunnettreader
Jeremy Waldron - Socioeconomic Rights and Theories of Justice (2010) :: SSRN
NYU School of Law, Public Law Research Paper No. 10-79 -- This paper considers the relation between theories of justice (like John Rawls’s theory) and theories of socio-economic rights. In different ways, these two kinds of theory address much the same subject-matter. But they are quite strikingly different in format and texture. Theories of socio-economic rights defend particular line-item requirements: a right to this or that good or opportunity (e.g., housing, health care, education, social security). Theories of justice tend to involve a more integrated normative account of a society’s basic structure (though they differ considerably among themselves in their structure). So how exactly should we think about their relation? The basic claim of the paper is that we should strive to bring these two into closer relation with one another, since it is only in the context of a theory of justice that we can properly assesses the competition that arises between claims of socio-economic right and other claims on public and private resources. -- Number of Pages in PDF File: 31 -- Keywords: Nozick, Rawls, justice, human rights, rights, scarcity, socioeconomic rights
paper  SSRN  political_philosophy  moral_philosophy  philosophy_of_law  liberalism  libertarianism  social_order  norms  moral_economy  poverty  human_rights  inequality  Rawls  Nozick  property  common_good  commons  capitalism  political_economy  justice  power-asymmetric 
july 2014 by dunnettreader
Brad DeLong - The Four Big Valid Issues People Have with Thomas Piketty's Grand Argument: Friday Focus for June 27, 2014 (Brad DeLong's Grasping Reality...)
I think there are four big valid issues with Thomas Piketty's grand argument: [they're all pretty feeble or wishful thinking unfortunately - DeLong puts too heavy a weight on several of them, producing a guesstimate of 50:50 we will have Piketty world if things left on autopilot] -- see comments, especially Dan Kervick who once again challenges Piketty critics for not reading the last chapters (which don't readily translate into mainstream macro models, so their criticism is generally nonresponsive to Piketty’s historical data and explanations)
Piketty  economic_history  economic_theory  economic_models  capital  wealth  profit  savings  charity  1-percent  economic_culture  status  elite_culture  inequality  political_culture  political_economy  moral_economy  capitalism 
june 2014 by dunnettreader
Paolo Ramazzotti - Policymaking and Learning Actors, or Is a 'Double Movement' in Cognition Possible? | JSTOR: Journal of Economic Issues, Vol. 41, No. 3 (Sep., 2007), pp. 765-781
Focus is on Polanyi's theory of implications of widening split between economic and societal goals - posits market efficiency and prices etc functions as coordination mechanisms require broadly shared images of the political economy. Uses Simon's bounded rationality to examine how learning happens, why business is likely to have oversized influence on shared images, and that policy changes may require a commitment to influencing the learning process so alternatives to business images can be shared basis of action -- interesting bibliography of classic political economy and social theory. -- didn't download
article  jstor  political_economy  social_theory  rationality-economics  economic_culture  moral_economy  capitalism  political_culture  common_good  reform-economic  efficiency  public_policy  public_sphere  public_opinion  Polanyi_Karl 
june 2014 by dunnettreader
Tom Leng, review - Brodie Waddell. God, Duty and Community in English Economic Life, 1660-1720 (2012) | H-Net Reviews April 2013
In his first book, Brodie Waddell seeks to bring the realm of culture to bear upon the economic life of late Stuart England. This period has tended to be subsumed within the story of how the “moral economy” was vanquished by the market in the 18thC, to the neglect of what Waddell sees as its distinctive econom -- a larger question for historians interested in reconciling the cultural and the economic: what do we do with the concept of “interest”? ...is there a danger of replacing the “undersocialized” caricature of “homo economicus” with economic actors that sociologists would describe as “oversocialized,” the passive bearers of internalized norms and values? Doubtless “religiously inspired archetypes ... left an indelible impression on the economic lives of ordinary people”, but we should not neglect the role of material self-advancement or preservation (and other forms of “acquisitive” behavior—the acquisition of reputation, for example) as a motive force in economic life. ...we need to find a place for “interest,” which, after all, was a concept with which early modern English people were very familiar. -- But a full picture of economic lives and cultures needs to consider the interaction of potentially rival values and those who bore them. And this links back to the changing economic context of the period. Increasing engagement in long-distance markets could encourage farmers or manufacturers to refashion their communal loyalties in a way that undermined neighborly commitments; participation in the emerging stock market might suggest a different scale of economic values to those recounted in this book. -- the volume of printed attacks on various forms of economic immorality might suggest that the confrontation of divergent moral economies was far from uncommon in the period. In which case, does the clash between the market and other moral economies, if not the moral economy, have some explanatory power still?
books  reviews  historiography  change-social  17thC  18thC  British_history  economic_history  economic_culture  interest_groups  community  patriarchy  religious_culture  religion-established  religious_lit  religious_belief  mercantilism  local_government  local_politics  elites  popular_culture  moral_economy  self-interest  EF-add 
june 2014 by dunnettreader
Katrina Navickas, review - Ian Haywood, John Seed,eds., The Gordon Riots: Politics, Culture and Insurrection in Late Eighteenth-Century Britain (2012) | IHR Reviews in History
Reviewer: Dr Katrina Navickas, University of Hertfordshire -- Ian Haywood and John Seed’s volume of essays fills a significant gap in the historiography of popular protest in the 18th century. There has been little in-depth research into the Gordon Riots since George Rude’s influential analyses in the 1960s. This lack of new research seems even more anomalous given the recent revival of interest in the politics of riot in the 18th century. So why has it taken until now? One reason is because the Gordon riots have always been an awkward topic. They do not fit into the classic narrative of landmark events in Whig/radical/Marxist/labour history. The power of the crowd during the American Revolution is generally presumed to be for the good, for progress and democracy, and not for reaction and religious hatred. Scholars on the left have shared an assumption – and indeed sometimes a desire to believe – that violent anti-Catholicism was a feature of the turmoils of the 17th century, not the tolerant Augustan and Enlightened Britain of the late 18th century. Rudé and E. P. Thompson offered a more nuanced view of the ‘faces in the crowd’, showing how the riots ‘had a political logic rooted in popular economic and social grievances’. A couple of decades ago, Nicholas Rogers and Kathleen Wilson further unpicked the socio-economic factors contributing to the events of June 1780. Nevertheless, the riots have been generally regarded as an anomaly in the national story of progress. - still expensive and not kindle-available
books  reviews  historiography  revisionism  18thC  British_history  British_politics  London  social_history  politics-and-religion  Gordon_Riots  riots  popular_politics  popular_culture  public_disorder  lower_orders  criminal_justice  crowds  anti-Catholic  popery  Test_and_Corporation_Acts  religious_culture  moral_economy  protests  tolerance  Catholic_emancipation  Catholics-England  EF-add 
june 2014 by dunnettreader
Tom Jones - Pope's "Epistle to Bathurst" and the Meaning of Finance | JSTOR: Studies in English Literature, 1500-1900, Vol. 44, No. 3 (Summer, 2004), pp. 487-504
This article attempts to show that Alexander Pope's argument and poetic technique in the Epistle to Bathurst challenge the idea that words are like money or other economic tokens. Reading against the recent characterization of Pope's work as nostalgic, this piece takes issue with the corollary established by J. G. A. Pocock and others between financial change and linguistic uncertainty in the early eighteenth century. It presents Pope as a skeptical thinker aware of the radical contingency of all human values, more in line with David Hume than earlier writers on money. It suggests that Pope's imitative meter is an investigation of this contingency of value. -- Yeah ! -- downloaded pdf to Note
article  jstor  18thC  English_lit  Pope  political_economy  moral_economy  finance_capital  financial_innovation  language  semiotics  values  historical_change  scepticism  contingency  morality-conventional  social_order  Pocock  commerce  downloaded  EF-add 
may 2014 by dunnettreader
Nicholas Hudson - "Britons Never Will be Slaves": National Myth, Conservatism, and the Beginnings of British Antislavery | Eighteenth-Century Studies 34.4 (2001) 559-576 - Project MUSE
According to a virtual consensus in modern scholarship on the abolition of slavery, this event marked a historic victory for nonconformist, radical, or otherwise antiestablishment elements in British culture. A recent historian has connected the rise of antislavery with "Wilkite" tendencies in the British middle class, and others have located abolitionism in a "reform complex" devoted to the radical overhaul of the British political system. It has been widely assumed that British slavery was generally excused by the established Anglican church and that the abolitionist movement was dominated by "Quakers, evangelicals and Rational Dissenters." -- This scholarship exemplifies a "Whig" historiography that routinely looks for the sources of social change in the attack of peripheral or nontraditional groups on the center. -- the most resonant voices against slavery during the 18thC belonged to men and women with strong backgrounds in the Anglican Church and conservative views on social and political issues in Britain. These include Samuel Johnson, William Warburton, Edmund Burke, ... -- we find that these humanitarian objections emerged from within the groups and ideologies that conceived of Britain as fundamentally Anglican, royal, and hierarchical. -- it is, in fact, inaccurate to identify mainstream British values with the merchants and colonists who controlled the slave-trade. As I will contend, antislavery took shape amidst an essentially ideological conflict about the very nature of "Britain" between proponents of unbridled free-market capitalism and the essentially conservative and traditionalist outlook of those who wished to contain capitalism within the constraints of morality, religion, and their patriotic image of Britons as a freedom-loving people. -- copy 1st 2 pages in Simple Note
article  Project_MUSE  paywall  find  18thC  British_history  British_politics  Atlantic  West_Indies  American_colonies  slavery  dissenters  Radical_Enlightenment  Whigs-oligarchy  Whigs-Radicals  Whigs-opposition  Tories  national_ID  British_Empire  abolition  plantations  planters  Anglican  Royalists  Wilkes  Johnson  Warburton  Burke  conservatism  historiography-Whig  nationalism  merchants  finance_capital  moral_economy  political_economy  capitalism  patriotism  Patriots  Patriot_King  Bolingbroke  EF-add 
may 2014 by dunnettreader
Issue TOC and Introduction, Nicholas Rogers - Making the English Middle Class, ca. 1700-1850 | JSTOR: Journal of British Studies, Vol. 32, No. 4, Oct., 1993
Introduction (pp. 299-304) Nicholas Rogers [downloaded] *--* (1) "A Just and Profitable Commerce": Moral Economy and the Middle Classes in 18thC London (pp. 305-332) Susan E. Brown [questions "aristocratic century" - independent merchants and bourgeoisie in leading charities, urban politics, polite culture etc. Didn't fit a consistent deference pattern; members of middle class could be on all sides of Poor Laws, so Thompson's bipolar moral economy overstates lack of variation in middle and intermediary functions, especially when drawing on civic traditions that didn't depend on aristocracy leadership] *--* (2) Racism, Imperialism, and the Traveler's Gaze in 18thC England (pp. 333-357) Margaret Hunt [unenlightened middle class elements eg freemasonry could be as xenophobic as cosmopolitan; attention to racial, ethnic difference could also be used to stigmatise the poor and set middle class apart] *--* (3) The Masonic Moment; Or, Ritual, Replica, and Credit: John Wilkes, the Macaroni Parson, and the Making of the Middle-Class Mind (pp. 358-395) John Money. *--* (4) "Middle-Class" Domesticity Goes Public: Gender, Class, and Politics from Queen Caroline to Queen Victoria (pp. 396-432) Dror Wahrman [middle class as defenders of family, domesticity, separate spheres only after won political status in 1832 - nobody adopted Hannah More's vision until decades later - use of the term by others or as self identifier is all over the map, even in the same report or work, stabilizing only c 1830s] -- downloaded Rogers pdf to Note
article  jstor  social_history  cultural_history  political_history  political_economy  political_culture  18thC  19thC  British_history  British_politics  urbanization  urban_politics  urban_elites  middle_class  aristocracy  politeness  consumerism  travel  xenophobia  racism  poverty  Poor_Laws  merchants  mercantilism  commercial_interest  interest_groups  corporatism  free_trade  Freemasonry  gender  family  domesticity  moral_economy  creditors  debtors  dissenters  local_government  political_nation  oligarchy  Parliament  anti-Jacobin  Loyalists  American_Revolution  French_Revolution  imperialism  London  status  rank  nouveaux_riches  downloaded  EF-add 
january 2014 by dunnettreader
Jessica Warner and Frank Ivis - "Damn You, You Informing Bitch." Vox Populi and the Unmaking of the Gin Act of 1736 | JSTOR: Journal of Social History, Vol. 33, No. 2 (Winter, 1999), pp. 299-330
This study examines the interaction between legislation and popular culture, with a particular emphasis on the extent to which popular resistance undermined enforcement of the Gin Act of 1736. It is argued that popular resistance, while significant, had no effect on policy until members of the middle classes intervened in an attempt to restore the social relations that had existed before the Act took effect. It was only at this point that the Act became a dead letter. In this role members of the middle classes functioned as mediators between two cultures, one plebeian, the other patrician. As such, our findings suggest that the dialectic of plebeian culture and patrician culture, as variously articulated by E.P. Thompson, may be excessively stark, especially when applied to a setting as dense and heterogenous as early Hanoverian London. Our findings also suggest that working men and women in the capital worked and socialized side by side, sometimes as drinking companions, and sometimes as professional informers. -- over 100 references -- Downloaded pdf to Note
article  jstor  social_history  cultural_history  political_history  18thC  British_politics  classes  class_conflict  lower_orders  middle_class  elites  public_policy  Parliament  law_enforcement  London  public_disorder  popular_culture  popular_politics  gin_craze  1730s  riots  moral_economy  bibliography  downloaded  EF-add 
january 2014 by dunnettreader
Laura Brace, The Idea of Property in Seventeenth-Century England: Tithes and the Individual | JSTOR: Church History, Vol. 68, No. 3 (Sep., 1999), pp. 719-721
Against a Macpherson notion of possessive individualism that's concerned with economics, Brace puts property in a web of political, moral and religious relations and conflicting values. More an essay that presents the issues than provides analysis, but an important period in development of sectarian and ideological conflict that doesn't map neatly on our contemporary categories.
books  reviews  17thC  British_politics  church_history  social_order  property  political_culture  religious_culture  authority  moral_economy  EF-add 
january 2014 by dunnettreader
Robert B. Ekelund, Jr., review - Germano Maifreda: From Oikonomia to Political Economy: Constructing Economic Knowledge from the Renaissance to the Scientific Revolution | EH.net
Ashgate, 2012. vii + 304 pp. $135 (hardcover), ISBN: 978-1-4094-3301-9.

The transition from the culturally and religiously oriented era of Oikonomia to the political economy of, say, Smith and Hume, was not linear.? Culture, science and religion evolved and helped shape conceptions of economic functioning. (It would appear that medieval Christianity was not productive of ?economy.?)? Secularism also evolved and searches for constancy in value, in exchange and in entrepreneurship were shaped by culture and psychology.? Epistemology affected the scaffolding and functioning of the economic superstructure at any point in time.?

[H]e raises intriguing links between culture, psychology, medicine, biology and economic categories. In Chapters 5 through7 (plus an epilogue), Maifreda weaves together exceptionally interesting material on the manner in which the principles of other sciences and studies used what we now call economic reasoning and motivations.? The whole question of how the idea that labor ?caused? or ?represented? or ?was involved with? value is the subject of Chapters 5 and 6.? Maifreda highlights (properly) how Locke?s analysis of private property is the ?essential element? in productive economy (p. 167).? Also examined is how labor and the concept of equilibrium are related to both theological and physiological reasoning, the concept of equilibrium prominent in the writings of Hales and Boisguilbert He concludes that ?powerful metaphors formed within diverse fields of knowledge … lent their assistance to ways of thinking about phenomena and drawing up models and generalizations? (p. 253) that, later, became an independent science of economics and economic reasoning.? One small complaint is that he does not extend his discussion into exactly how and through whom the transition was finally made (e.g., possibly Cantillon and others).? But that may be the subject for another study.
books  reviews  intellectual_history  economic_history  Renaissance  Scientific_Revolution  Enlightenment  Scottish_Enlightenment  French_Enlightenment  16thC  17thC  18thC  political_economy  economic_theory  economic_culture  commerce  values  labor  Locke  property  currency  prices  cultural_history  theology  Providence  moral_philosophy  moral_economy  Foucault  Physiocrats  Linnaeus  biology  physiology  equilibrium  metaphor  EF-add 
december 2013 by dunnettreader
Timothy C. Johnson - Reciprocity as the Foundation of Financial Economics | SSRN - Oct 2013
This paper argues that the fundamental principle of contemporary financial economics is balanced reciprocity, not the principle of utility maximisation that is important in economics more generally. The argument is developed by analysing the mathematical Fundamental Theory of Asset Pricing with reference to the emergence of mathematical probability in the seventeenth century in the context of the ethical assessment of commercial contracts. This analysis is undertaken within a framework of Pragmatic philosophy and Virtue Ethics. The purpose of the paper is to mitigate future financial crises by reorienting financial economics to emphasise the objectives of market stability and social cohesion rather than individual utility maximisation. -- Downloaded pdf to Note
paper  SSRN  economic_history  legal_history  economic_theory  Aristotle  Aquinas  Papacy  medieval_history  Renaissance  16thC  17thC  18thC  moral_philosophy  moral_economy  financial_innovation  probability  mathematics  commerce  risk  interest_rates  prices  pragmatism  virtue_ethics  downloaded  EF-add 
november 2013 by dunnettreader
Tim Johnson - Magic, maths and money: The Dark Side of Mathematics - Nov 2013
Fsscinating discussion starting with debate re morality of default and obligations re knowing the borrower on lender side - Last half discusses growth of insurance in 19thC US -- Essential to the process of banking is the question "how will you repay the loan": the lender must understand the borrower. I would argue that without asking this question the lender cannot establish the competence of the borrower to enter into the loan contract, and so if the lender has not endeavoured to establish this competence, the loan is void. The question relevant to US policy is how were sub-prime borrowers going to repay the loan and interest? I would argue that it is usurious (i.e. illicit) to see these sub-prime borrowers as profit opportunities if you do not genuinely believe they can re-pay the loan.

I am particularly interested in this idea of enticing people into contracts in order to make profits having just read Jonathan Levy's Freaks of Fortune, a hard to read but fascinating account of the role of life insurance in nineteenth century US society.
economic_history  US_history  19thC  financial_innovation  financial_sector_development  financial_regulation  political_economy  moral_economy  EF-add 
november 2013 by dunnettreader
Fred Block & Margaret Somers - In the Shadow of Speenhamland: Social Policy and the Old Poor Law | Politics & Society (2003)
doi: 10.1177/0032329203252272 Politics & Society June 2003 vol. 31 no. 2 283-323

In 1996, the U.S. Congress passed the Personal Responsibility and Work Opportunities Reconciliation Act that ended the entitlement of poor families to government assistance. The debate leading up to that transformation in welfare policy occurred in the shadow of Speenhamland—an episode in English Poor Law history. This article revisits the Speenhamland episode to unravel its tangled history. Drawing on four decades of recent scholarship, the authors show that Speenhamland policies could not have had the consequences that have been attributed to them. The article ends with an alternative narrative that seeks to explain how the Speenhamland story became so deeply entrenched.
paper18thC  Britain  economic_history  social_history  political_history  moral_economy  Poor_Laws  Labor_markets  historical_sociology  historiography  EF-add 
october 2013 by dunnettreader

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