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This introductory book targets the reader who has the ambition to apply economic analysis but may be missing a technical introduction to its mathematical techniques or seeks a structured elaboration of its philosophical principles. The text juxtaposes economic analysis with moral philosophy, political theory, egalitarianism, and other methodological principles and then progresses to the details of methods such as model-building, derivatives, differential equations, statistical tests, and the use of computer programs.
We live in a ‘bimoral’ society, in which people govern their lives by two contrasting sets of principles. On the one hand there are the principles associated with traditional morality. Although these allow a modicum of self-interest, their emphasis is on our duties and obligations to others: to treat people honestly and with respect, to treat them fairly and without prejudice, to help and are for them when needed, and ultimately, to put their needs above their own. On the other hand there are the principles associated with the entrepreneurial self-interest. These also impose obligations, but of a much more limited kind. Their emphasis is competitive rather than cooperative: to advance our own interests rather than to meet the needs of others. Both sets of principles have always been present in society but in recent years, traditional moral authorities have lost much of their force and the morality of self-interest has acquired a much greater social legitimacy, over a much wider field of behavior, than ever before. The result of this is that in many situations it is no longer at all apparent which set of principles should take precedence. In this book, John Hendry traces the cultural and historical origins of the ‘bimoral’ society have also led to new, more flexible forms of organizing, which have released people’s entrepreneurial energies and significantly enhanced the creative capacities of business. Working within these organizations, however is fraught with moral tensions as obligations and self-interest conflict and managers are pulled in all sorts of different directions. Managing them successfully poses major new challenges of leadership, and ‘moral’ management, as the technical problem-solving that previously characterized managerial work is increasingly accomplished by technology and market mechanisms. The key role of management becomes the political and moral one of determining purposes and priorities, reconciling divergent interests, and nurturing trust in interpersonal relationships. Exploring these tensions and challenges, Hendry identifies new issues of contemporary management and puts recognized issues into context. He also explores the challenges posed for a post-traditional society as it seeks to regulate and govern an increasingly powerful and global business sector.
Repeatedly and successfully, the celebrated Harvard philosopher Robert Nozick has reached out to a broad audience beyond the confines of his discipline, addressing ethical and social problems that matter to every thoughtful person. Here Nozick continues his search for the connections between philosophy and “ordinary” experience. In the lively and accessible style that his readers have come to expect, he offers a bold theory of rationality, the one characteristic deemed to fix humanity’s “specialness”. What are principles for? asks Nozick. We could act simply on whim, or maximize our self-interest and recommend that others do the same. As Nozick explores rationality of decision and rationality of belief, he shows how principles actually function in our day-to-day thinking and in our efforts to live peacefully and productively with one another. In Nozick’s view, misconceptions of rationality have resulted in many intractable philosophical problems. For example, the Kantian attempt to make principled behavior the sole ultimate standard of conduct extends rationality beyond its bounds. In this provocative volume, Nozick reformulates current decision theory to include the symbolic meaning of actions in areas from controlling impulses to fighting society’s war against drugs. The author proposes a new rule of rational decision, “maximizing decision-value”, which is a weighted sum of causal, evidential, and symbolic utility. In a particularly fascinating section of the book he traces the implications of this rule for the famous Prisoner’s Dilemma and for Newcomb’s Problem. Rationality of belief, according to Nozick, involves two aspects: support by reasons that make the belief credible, andgeneration by a process that reliably produces true beliefs. A new evolutionary account explains how some factual connections are instilled in us as seemingly self-evident, thus reversing the direction of Kant’s “Copernican Revolution”. Proposing a theory of rational belief that includes both the intellectual credibility of the belief and the practical consequences of believing it, Nozick also provides a fresh resolution of the “lottery paradox”. Finally, Nozick explores the scope and limits of instrumental rationality, or the effective and efficient pursuit of given goals, and suggests some new conditions on the rationality of goals. Throughout, the book combines daring speculations with detailed investigations to portray the nature and status of rationality and the essential role that imagination plays in this singular human aptitude.
“Social and Political Philosophy: Contemporary Perspectives introduces and explores the central questions of social and political philosophy from opposing perspectives. Each essay has been written by a philosopher at the forefront of the field, advancing the discussion in ways that are interest to professional philosophers and students alike. Traditional perspectives are balanced with new challenges that have emerged. The book concludes with an attempt to respond to and reconcile a number of the arguments presented in the essays.” “Social and Political Philosophy: Contemporary Perspectives is a collection that focuses and reinvigorates discussion on the central questions of social and political philosophy.”–BOOK JACKET.
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