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- Endörfer, Richard, 1989, et al.
(författare)
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What’s the Point of Efficiency? On Heath’s Market Failures Approach
- 2024
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Ingår i: Business Ethics Quarterly. - : Cambridge University Press (CUP). - 1052-150X .- 2153-3326. ; 34:1, s. 35-59
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Tidskriftsartikel (refereegranskat)abstract
- This article reviews and criticizes Joseph Heath’s market failures approach (MFA) to business ethics. Our criticism is organized into three sections. First, we argue that, even under the ideal assumptions of perfect competition, when markets generate Pareto-efficient distributions, Heath’s approach does not rule out significant harms. Second, we show that, under nonideal conditions, the MFA is either too demanding, if efficiency is to be attained, or not sufficiently demanding, if the goal of Pareto efficiency is abandoned. Finally, we argue that Heath’s appeal to regulations and specific moral requirements as a remedy for market failures is unlikely to safeguard efficiency and exposes a number of general worries regarding the moral force of the MFA. We end this article with a constructive suggestion on how to adjust the MFA to avoid these problems while preserving its contractualist and Paretian spirit.
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| 2. |
- Fontan, Clement, 1985, et al.
(författare)
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Central Banking
- 2021
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Ingår i: Routledge Handbook of Critical Finance Studies / Christian Borch, Robert Wosnitzer (Editors). - New York, NY : Routledge. - 9781138079816 ; , s. 154-172
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Bokkapitel (refereegranskat)abstract
- During the past decades, central banks acquired considerable independence from democratic institutions under the Central Bank Independence (CBI) template. Yet, the changing role of central banks since the 2007–2008 crisis has led to a (re)politicization of central banking and has weakened the scientific and political consensus on the CBI model. In turn, central bankers have tried to neutralize repoliticization and these efforts have shaped their unconventional monetary policies. In this chapter, we review how the (critical) political economy literature has scrutinized the evolving role of central banks this last decade, and we debunk central banks’ depoliticization strategies. First, we examine how financial power shapes central banks’ unconventional policies to the benefit of private finance. Second, we analyze how these “high-finance” struggles affects “low-finance,” that is, what are the distributive effects of post-crisis monetary policy on firms and households? Finally, we review current debates on alternative monetary tools, which could potentially fare better than current monetary arrangements in distributive, ecological, and democratic terms.
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| 3. |
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| 4. |
- Larue, Louis, 1989
(författare)
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A defense of reasonable pluralism in economics
- 2022
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Ingår i: Journal of economic methodology. - 1350-178X .- 1018-5070. ; 29:4, s. 294-308
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Tidskriftsartikel (refereegranskat)abstract
- This article aims to defend a novel account of pluralism in economics. First, it argues that what justifies pluralism is its epistemological benefits. Second, it acknowledges that pluralism has limits, and defends reasonable pluralism, or the view that we should only accept those theories and methods that can be justified by their communities with reasons that other communities can accept. Clearly, reasonable pluralism is an ideal, which requires economists of different persuasions to respect certain norms of communication while evaluating each other’s theories. The article ends with a discussion of the conditions under which reasonable communication becomes possible.
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| 5. |
- Larue, Louis, 1989, et al.
(författare)
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How to Stop the Wild Green Gold Rush: credible ESG ratings
- 2023
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- The market for environmental, social and governance (ESG) rating and data is expected to grow immensely in the next decades. This brief zooms in both on the integration of ESG risks into “traditional” operations of Credit Rating Agencies (CRAs) as well as on the emergence of a market exclusively dedicated to ESG rating. As will become clear, the market for ESG ratings suffers from serious shortcomings, a lack of transparency and standardisation, significant biases and conflicts of interests, and a dependence on large, oligopolistic, credit rating agencies.
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| 6. |
- Larue, Louis, 1989
(författare)
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John Searle's ontology of money, and its critics
- 2023
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Ingår i: The Palgrave Handbook of Philosophy and Money. - Basingstoke : Palgrave-Macmillan.
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Bokkapitel (refereegranskat)abstract
- John Searle has arguably proposed one of the most influential contemporary accounts of social ontology. According to Searle, institutional facts are created by the collective assignment of a specific kind of function —status-function— to pre-existing objects. Thus, a piece of paper counts as money in a certain context because people collectively recognize it as money, and impose a status upon it, which in turn enables that piece of paper to deliver certain functions (means of payment, etc.). The first part of this essay presents Searle’s theory of social ontology and summarizes his views on money. The second part centers on criticisms of his views and compares his theory with its main competitors, including the theories of Tuomela, Guala and Hindriks, and Smit, Buekens and Duplessis. The conclusion attempts to see what may remain of Searle’s theory after careful examination.
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| 9. |
- Larue, Louis, 1989
(författare)
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Review of Alexander Douglas’ "The Philosophy of Debt"
- 2017
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Ingår i: Ethical Perspectives. - 1370-0049. ; 24:2, s. 397-301
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Recension (övrigt vetenskapligt/konstnärligt)abstract
- In "The Philosophy of Debt", Alexander Douglas claims that we collectively have a duty to sustain the institution of debt. I discuss this claim on two grounds. First, I argue that one would need a more thorough examination of the sorts of goods the institution of debt is supposed to sustain. Not all debts are beneficial, and not all forms of production are desirable. Second, I contend that individual agents may not always be able to go into debt. It is not at all clear, therefore, that they have a duty to promote and sustain this institution.
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