bluuebunny/crossref_metadata_2025 huggingface dataset:
The Autonomy of Preferences
Authors: Goodin Robert E.
Published: October 2003

This is the first of two chapters on preference democracy, and defends the Enlightenment model of social life, and the form of democratic individualism that flows from it, against communitarian challenges. It begins by briefly characterizing the sort of notions of liberal autonomy that underlie the Enlightenment model, and counterposing that even more briefly to the new communitarian rivals. Next, it describes the sort of ‘community’—a ‘community of interests’—that makes most immediate sense in terms of the Enlightenment model, showing that it is rather more expansive than communitarian caricatures of it might often lead us to suppose. Goes on to discuss various other sorts of ‘community’ to which new communitarian writing sometimes points, and then sketches the sort of accommodation that the liberal Enlightenment model can make to those various forms of communitarian challenge. Lastly, all this is reapplied to democratic theory proper, showing what difference these rival understandings of the nature of community make to how we understand democratic deliberation.
The Authority of Preferences
Authors: Goodin Robert E.
Published: October 2003

This is the second of two chapters on preference democracy. It points out that theories of liberal democracy necessarily require systematic responsiveness to popular wishes, in ways that make them fundamentally ‘preference‐respecting’, but that there are many different kinds of preferences and correspondingly many different ways of respecting them. Different models of democracy are better at providing certain sorts of respect for certain sorts of preferences than others, and which model of democracy liberal democrats want to adopt therefore depends on which sorts of preferences they want to accord which sort of respect. The central claim of this chapter is that the author's preferred model of ‘democratic deliberation within’ is preference‐respecting in the right way, and that it therefore deserves a key role in any larger system of democratic accountability. The different sections of the chapter are: Respecting Preferences, Not Just Recording Them; Permissible Paternalism; Assessing Alternative Models of Preference‐Respecting Democracy; The Virtues of Sporadic Assessments: Preference‐Respecting Arguments for Indirect Democracy; and Combining ‘Democratic Deliberation Within’ and Trustee‐style Representative Democracy.
Democracy as a Condorcet Truth‐Tracker
Authors: Goodin Robert E.
Published: October 2003

It is a long‐standing debate within political philosophy generally whether we want our political outcomes to be right or whether we want them to be fair; while democratic theory has traditionally taken the latter focus, democracy can be defended in the former way as well; how that can be done is the subject of this chapter and the next. For epistemic democrats, the aim of democracy is to ‘track the truth’, while for procedural democrats, the aim is to embody certain procedural virtues. When voters are choosing between only two options, both epistemic and procedural standards point in the same direction, and in that case, Condorcet's jury theorem reassures both epistemic and procedural democrats that the correct outcome is most likely to win a majority of votes; however, where there are three or more options on the table, recommendations of the different strands of democratic theory diverge. In these cases, plurality voting is arguably the simplest and possibly the most frequently used voting rule, and this chapter demonstrates that the Condorcet jury theorem can indeed be generalized from majority voting over two options to plurality voting over many options; other decision rules, Condorcet pairwise criteria, Borda count procedures, and the Hare and Coombs systems have also been shown to have considerable truth‐seeking powers. This chapter addresses the question of which of these alternative possible democratic decision rules are the most reliable truth‐tracker in the more general ‘many‐option’ case.
Input Democracy
Authors: Goodin Robert E.
Published: October 2003

This is the first of four chapters on value democracy, and focuses on ‘input democracy’, which aims to give everyone (or, alternatively, every distinct affected interest) a ‘voice’, rather than necessarily an equal (understood as ‘equally effective’) ‘say’ over the ultimate outcome, and stands in contrast to ‘output democracy’. The two terms (or models) mark a distinction between a concern with the early and late stages of the political process, and can be viewed as who gets a vote versus how votes are aggregated; they are, of course, causally connected; while the two models are thus empirically intertwined, they are analytically distinct, and the analytics can sometimes be of practical consequence as well. After sketching the central concerns of the two models generically, Schumpeter's model is presented as the paradigmatically output‐oriented account. What might be regarded as a paradigmatically input‐oriented model is then sketched to contrast with it; this, although an analytic construct, is loosely modelled on and represented by the sort of ‘consultative democracy’ characteristic of the Nordic countries and, indeed, of ‘corporatist’ and ‘consociational’ democracies worldwide. The different sections of the chapter are: Against a Preoccupation with Outputs; Institutional Embodiments: Contrasting the Limiting Cases—Schumpeterian democracy and consultative democracy; and Why Inputs Matter, Democratically.
Representing Mute Interests
Authors: Goodin Robert E.
Published: October 2003

By imagining ourselves in the place of others, ‘democratic deliberation within’ enables us to bring their interests to bear on democratic decision‐making. Democratically desirable though that always is, it is absolutely essential when the others are in no position to speak for themselves in the ordinary course of democratic deliberations. The mute interests discussed in this chapter are future generations and non‐human interests (natural objects). ‘Democratic deliberation within’ once again provides a mechanism for including those most dramatically hard‐to‐include interests within democratic deliberations; even if those interests cannot speak for themselves, present people can imaginatively project themselves into the position of others, be they in future times or different species. That they should do so follows from the familiar liberal democratic principle of ‘equal protection of interests’, modified in two ways: on one side, that familiar liberal democratic value premise can and should be buttressed by an expanded view of what sorts of interests should count, specifically, natural objects and future generations are shown to have interests that are as deserving of protection as are those of current humans; on the other side, familiar liberal propositions about ‘equal protection of interests’ can and should be stretched to admit novel mechanisms for politically securing that goal, specifically, notions of ‘encapsulated interests’, discredited in other connections, can be rehabilitated for purposes of protecting future‐oriented and non‐human values.
Conclusion
Authors: Goodin Robert E.
Published: October 2003

This conclusion gives short restatements on two fronts. First, it comments briefly on how the author's model of ‘democratic deliberation within’ compares with, and improves upon, existing models. Second, it provides some brief indications of the scope of required changes to existing political practice.
Introduction: The Environmental Challenge to Pluralism
Authors: Schlosberg David
Published: October 2003

The main issues addressed in the book are introduced, starting with discussion of the great diversity in the environmental movement, and making the point that the major groups of the movement in the United States, in taking on the role of interest groups in the liberal pluralist model, have excluded and marginalized many positions. The study to be made is described as focusing on two key concerns: how to acknowledge and recognize, rather than deny, diversity in environmentalism; and how to organize that diversity politically in a manner more inclusive than the liberal, or mainstream, environmental model. Different sections of the chapter discuss: the problems with conventional (liberal) pluralism; the democratic potential of the recognition by grassroots environmentalism of different experiences of the same event; the notion of justice embodied in the environmental justice movement – distributional equity (which can be achieved through procedural equity), recognition of the diversity of participants and experiences, and political participation (the demand for more public participation in the development, implementation, and oversight of environmental policy); and pluralism in theory and practice. The final section of the chapter provides a preview and plan of the book.
Approaches to Difference in the US Environmental Movement: Classification Schemes, Hegemonic Definitions, and Singular Motivations
Authors: Schlosberg David
Published: October 2003

Attention to the environmental movement does not guarantee a sense of respect for its diversity, so this chapter is dedicated to a study of the limitations inherent in various approaches to the study of environmentalism(s) in the United States. The argument here is that many examiners are more interested in building explanatory models than in understanding the diversity of environmentalism; hence, many models are built on a foundation of exclusion. The chapter first takes a brief look at the limits of standard histories of the environmental movement. It goes on to critically examine the current state of the literature on the environmental movement by investigating methods of classification of variety, the attempt to forge an environmental vanguard (hegemonic progressivism), and the myriad claims to unlocking the motivations of environmental actors. All of these approaches are described as having a tendency to exclude evidence, examples, or categories that do not fit the proposed model.
Components of a Critical Pluralism: Ethics and Processes
Authors: Schlosberg David
Published: October 2003

The acceptance of multiplicity as the precondition of political action is central to the new generation of theorists and activists that the author designates as ‘critical pluralists’. In political and social theory, a range of authors has finally begun to respond to a lament broached by Mary Parker Follett in 1918: pluralists early in the century had acknowledged difference, she noted, but they had not arrived at the heart of the question – what is to be done with this diversity? This chapter examines some of the contemporary responses to Follett’s question and constructs a list of practices necessary to build political relations across difference. These get at issues of justice beyond the material, concerning both recognition and participatory process, and it is argued that agonistic respect (William Connolly 1991), attempts at intersubjective understanding (Seyla Benhabib 1992; Jurgen Habermas 1970; Axel Honneth 1992), inclusive, open discourse free from domination and the possibility of reprisals (John Dryzek 1990; John Forester 1989; Habermas 1984, 1987), and the development of a particular form of solidarity are all crucial to the practices suggested by a new generation of pluralist theory. Solidarity (unity without uniformity) is complex in that it centres on the process of reconciling difference with the need for concerted political action. The author focuses on how the notion of unity suggested by Follett was discarded by the second generation of pluralism, but is now mirrored by numerous contemporary theorists, including Richard Rorty (1989), Donna Haraway (1991), and Gilles Deleuze and Felix Guattari (1987).
Towards the Good Society, Once Again?
Authors: Esping‐Andersen Gøsta
Published: October 2003

This is an introductory chapter to the book, and it addresses the need for a new look at the welfare state in Europe. The different sections of the chapter are: The new welfare challenge; Emerging blueprints for reform; Towards a viable new European welfare architecture—the need for a more effective methodology, the principles of justice, welfare as social investment, and rethinking security in old age; The three welfare pillars —markets, families, and government; Similar challenges for different welfare regimes— the Scandinavian welfare model, the ‘liberal’ welfare model, and the continental European welfare model; From national regimes towards a European model; and Rewriting the social contract—a new family policy, a new gender contract, social inclusion through employment, the generational contract.
A New Gender Contract
Authors: Esping‐Andersen Gøsta
Published: October 2003

This chapter addresses two closely woven issues: that of harmonizing (making compatible) the dual aims of careers and motherhood that most European women now pursue; and that of achieving full gender neutrality (equality) in the allocation of opportunities, life chances, and welfare outcomes. The main aspects addressed in investigating the multi‐dimensional compatibility problem are: the heterogeneity of women's preference sets (family centred, career centred, or dual role), public support for working mothers, the job supply, the role of wages, and motherhood. The main aspects addressed in investigating gender equality across the life course are: gender segregation in the labour markets, gender differences in pay, female life choices, and the extra costs and risks of employing women. It is argued that neither social nor labour‐market policy will solve these gender inequality issues, and the possibility of a domestic solution is discussed.
The Quality of Working Life in Welfare Strategy
Authors: Gallie Duncan
Published: October 2003

Three main issues are addressed in this chapter. The first section, ‘Dimensions of employment disadvantage’, points out that although the central policy orientation for enhancing social inclusion in Europe is increasing the employment rate, this is at best only a partial solution, because of the restricted possibilities for social participation and ongoing learning and training that many low‐skilled jobs offer. The second section, ‘Employment disadvantage in the life course’, shows that not only does low‐skilled employment provide rather limited life opportunities but also enhances the risk of persistent labour‐market marginalization. The last section, ‘Welfare and work: the future agenda’, addresses the fact that the principal emphasis in social policy has been on tackling the risk of social exclusion after people have entered unemployment (through the application of training and incentives), whereas, a long‐term preventative programme is needed that will protect people from the risk of labour‐market marginalization by ensuring continuous skill enhancement over their working lives.
A New Social Contract for the Elderly?
Authors: Myles John
Published: October 2003

The key issues addressed in this chapter are how to manage the transition to pension reform in Europe so as to satisfy principles of intergenerational equality and intra‐generational justice, while also contributing to the further democratization of retirement among men and women that has already started. The main sections of the chapter are: Managing the transition; The economics of ageing; Redesigning the retirement contract.
A State of Mind
Authors: Williamson Timothy
Published: October 2003

The chapter proposes the view that knowing is a mental state. It is a factive mental state, in the sense that only truths are known; by contrast, believing is a non‐factive mental state, because both truths and falsehoods are believed. Knowledge is the most general factive mental state, of which perception and memory are sub‐species. Knowledge cannot be given an analysis as a combination of belief, truth, and other factors. Rather, belief is to be understood in terms of knowledge in a way similar to what are known as disjunctive accounts of perception; to believe something is, roughly, to act as though one knew it; a successful belief is knowledge.
Primeness
Authors: Williamson Timothy
Published: October 2003

A composite condition is one that consists of the conjunction of a purely internalist condition and a purely external condition; a condition that is not composite is prime. A general method of argument is provided for showing that many mental states, including knowing, are prime. A connection is made with the account of knowledge that Plato gives in the Meno. The primeness of mental states is shown to contribute to their value in the explanation of action by facilitating a kind of generality, which is made precise by use of the probabilistic notion of a correlation coefficient. The account is extended to the explanation of non‐mental events.
Anti‐Luminosity
Authors: Williamson Timothy
Published: October 2003

We are often conceived as cognitively at home with conditions that are luminous in roughly the sense that whenever they obtain we know or are in a position to know that they obtain; mental states such as feeling cold or pain are often thought to provide examples of luminous conditions. This chapter argues that there are no non‐trivial luminous conditions, and therefore that we suffer from a kind of cognitive homelessness. The argument involves consideration of gradual processes in which small changes are below our level of discrimination. It is related to, but not the same as, sorites paradoxes, for example about how many grains make a heap. The result provides the basis for an objection to the attempt that Michael Dummett has made to characterize linguistic meaning in terms of assertability rather than truth.
Margins and Iterations
Authors: Williamson Timothy
Published: October 2003

The anti‐luminosity argument is used to refute the KK principle that if one knows and one knows that one knows, or at least is in a position to know that one knows. Further iterations of knowledge are shown to involve similar cognitive gaps. The underlying phenomenon is diagnosed in terms of the need for a margin for error in knowledge. It is related to a family of ideas such as safety, reliability, robustness, stability, and close or easy possibility. The account is extended to knowledge of what others know.
Evidential Probability
Authors: Williamson Timothy
Published: October 2003

The chapter bases a theory of evidential probability on the equation of knowledge with evidence. It is a form of objective rather than subjective Bayesianism. Updating on new evidence is structured in a way that allows propositions to lose as well as gain probability (forgetting). The account is integrated with possible worlds models of epistemic logic. Since one does not always know what one knows, the accessibility relation is not an equivalence relation, which has the effect that prior probability can diverge from expected posterior probability.
Assertion
Authors: Williamson Timothy
Published: October 2003

This chapter argues that the speech act of assertion is fundamentally characterized by the rule that one should assert only what one knows to be the case. Accounts based on other rules such as that one should assert only what is true or what one reasonably believes are argued to give false predictions in various cases, such as assertions about lotteries. The connection between knowledge and assertion is shown not to be merely a matter of Grice's conversational implicature. The account is applied to the connection between assertion and proof in mathematics. The point of having such a speech act is explored through the analogy between knowledge and action.
Structural Unknowability
Authors: Williamson Timothy
Published: October 2003

This chapter explores the limits on what can be known that are revealed by an argument first published by Fitch, sometimes known as the Paradox of Knowability. The argument shows that if some truths are unknown then some truths are unknowable. This represents an important challenge to verificationism and anti‐realism. Objections to the argument by Edgington, Kvanvig, Melia, and others are considered and projected. Thus, knowledge turns out to have structural limits.
Truth, Rationality, and Pragmatism
Authors: Hookway Christopher
Published: October 2003

Charles Peirce's pragmatist philosophy contains important ideas for understanding the nature of epistemic rationality and rational self‐control. After a discussion of his views about the different demands of theory and practice, the book explains his account of truth, before comparing it with the correspondence theory of truth and tracing its relations to his theory of indexical reference. This is followed by an investigation of his defence of a system of ‘scientific metaphysics’ and its role in rational inquiry. We then turn to a consideration of how his pragmatism and his account of rationality rest upon his acceptance of a modified version of the common‐sense philosophy. This theme in his thought leads him to emphasize the role of sentiments and emotions in epistemic evaluation, and this lies behind his distinctive views about doubt and about why we should not take scepticism seriously. The final two chapters of the book explore Peirce's argument for the reality of God and begin to address the question of how he thought his pragmatist philosophy could be proved.
Aristotle on Meaning and Essence
Authors: Charles David
Published: October 2003

Focuses on two themes in Aristotle's philosophy and their interconnection. The first is his account of the meaning (or signification) of terms such as ‘man’, ‘fish’, and ‘eclipse’, which refer to kinds of objects or processes. The second is his theory of the essences of these kinds, what we refer to in defining them, and what makes them what they are. For Aristotle, the meaning of such terms is determined by a distinctive type of efficient causal connection between the kind and thoughts with which the terms are associated. However, although these terms signify existing kinds with essences, one who has the relevant thoughts need not know either that the kind exists or that, if it exists, it has an essence of a given type. In consequence, Aristotle's account of the essence of kinds has to be grounded in his metaphysics and not in his theory of the mastery of natural kind terms. Aristotle's essences are specified in our definitions of kinds because they determine the kind's distinctive nature and necessary properties. They simultaneously ground the identity of the kind and explain its necessary, but non‐essential, features. In these respects, Aristotelian essentialism, which plays a central role in his scientific and metaphysical writings, is distinct both from twentieth‐century attempts to revive essentialism (such as are to be found in the writings of Kripke and Putnam) and from the views criticized by anti‐essentialists (such as Locke and Quine). This book aims to set out and critically evaluate Aristotle's distinctive form of essentialism.
Meaning, Essence, and Necessity
Authors: Charles David
Published: October 2003

Aristotle's account of (1) the meaning of natural kind terms and (2) the essence of natural kinds is distinguished from that offered by Saul Kripke and Hilary Putnam. With regard to (1), Aristotle did not require that one who understands a natural kind term and goes on to discover the essence of the kind grasps at the outset that the kind exists or has an essence yet to be discovered. With regard to (2), Aristotle separates essences from necessary properties and connects essences with definition and explanation. (1) is discussed in Part I of the book (Chs. 2–6), (2) in Part II (Chs. 7–13). While the book contains detailed exegesis of Aristotle's text, it also includes a trail for readers mainly interested in grasping his overall philosophical picture (p. 3).
Posterior Analytics B.8–10: The Three‐Stage View
Authors: Charles David
Published: October 2003

Aristotle, in Posterior Analytics B.10, separates three stages in scientific enquiry: (1) knowledge of the signification of the relevant terms, (2) knowledge of the existence of the kind, and (3) knowledge of the essence of the kind. One can, in all relevant cases, achieve the first stage of enquiry without (as yet) achieving the second or third stages. So, knowledge of the signification of the relevant terms does not essentially involve knowledge of the existence of the kind in question.
Preparation for the Three‐Stage View
Authors: Charles David
Published: October 2003

Aristotle, in Posterior Analytics B.3–7, prepares for the three‐stage view by arguing that no one account can tell us both the essence of a kind and the signification of the term that names that kind. Here, he lays the foundation for the separation of two questions, which we would represent as follows: ‘What does “triangle” signify?’ and ‘What is the triangle?’ This distinction provides him with a way to address and resolve Meno's paradox of enquiry.
Definition and Demonstration: The Difficulties Raised inPosterior Analytics Β.3–7
Authors: Charles David
Published: October 2003

Aristotle argues in Posterior Analytics B.3–7 that accounts of definition unsupported by understanding of the explanatory structure of kinds are incapable of giving us knowledge of the nature of kinds. The formal or logical level of analysis needs to be supplemented by considerations drawn from a study of causes.
Towards a Unified Theory of Definition:Posterior AnalyticsΒ.13–15
Authors: Charles David
Published: October 2003

Aristotle, in the Posterior Analytics, connects his account of definition and explanation with the theory of division. The features that figure in the relevant explanation include those that distinguish the kind in its relevant genus. His account of differentiation into genera and species is strongly interconnected with his explanation‐involving account of definition.
Substance, Definition, and Essence
Authors: Charles David
Published: October 2003

Aristotle's approach to the definition of composite substances in the central books of the Metaphysics follows the explanation‐involving pattern set out in the Posterior Analytics. The definition of such substances draws on resources based in his account of teleological causation The relevant Forms provide the basis of answers to both the questions, ‘What is F?’ and ‘Why is F as it is?’. Neither question can be answered satisfactorily in isolation. Aristotle's explanation‐involving account of definition is seen to be at work throughout his discussion in the central books of Metaphysics.
Biology, Classification, and Essence
Authors: Charles David
Published: October 2003

Aristotle, in the Historia Animalium, follows (and modifies) the explanation‐involving approach to classification that he developed in the pattern of the Posterior Analytics. Thus, he draws in his theory of animal classification on his explanatory account of soul functions developed in De Anima. However, his project encounters a severe problem: he failed to uncover in his study of biological phenomena the unified, causally basic essences that his theory of definition required. I consider whether Aristotle can resolve this crisis while remaining true to the basic features of his Analytics paradigm.
Making Globalization Good
Authors: HRH The Prince of Wales
Published: October 2003

Many of us have a sense of unease about current trends in global capitalism (GC) and global society. Inequalities and conflict seem endemic; much‐vaunted technological innovations seem unable to deliver structural change and development in many parts of the world; and ideological conflicts may be more intense than during the cold war. The central point of debate in this book is to identify and evaluate the moral challenges of what contributors refer to as ’responsible global capitalism (RGC)’. How can we develop a global economic architecture that is economically efficient, morally acceptable, geographically inclusive, and sustainable over time? If global capitalism––arguably the most efficient wealth‐creation system currently known to man––is to be both economically viable and socially acceptable, each of its four constituent institutions (markets, governments, supra‐national agencies and civil society) must not only be technically and administratively competent but also be buttressed and challenged by a strong ethical ethos. In this book, leading thinkers in international business and ethics (including academics, politicians and moralists) identify the pressing economic and moral issues that global capitalism must answer. Recognizing that solutions will not come from any one quarter, and that any serious discussion of a just and equitable system must embrace questions of ethics and faith, the book approaches the issues from a range of different disciplines and forums. It is arranged in three parts. Part I (5 chapters) presents the analytical framework underlying the volume's main themes. Part II (5 chapters) concentrates on the challenges, opportunities, and dilemmas posed by global capitalism. Part III (6 chapters) considers how the global society might better organize itself, and its constituent institutions to respond to the challenges of global capitalism in a way that helps embrace an agreed set of core values, while accepting the need for a degree of cultural diversity and tolerance in respect of the interpretation of these and the identification and practice of non‐core values.
Private Morality and Capitalism: Learning from the Past
Authors: Lal Deepak
Published: October 2003

This chapter traces the changing interface between societal and cultural values and capitalism as each has evolved since the later Middle Ages, asking to what extent can the past successes or failures of capitalism (in its various guises) be attributed to the moral ecology of the institutions underpinning and shaping it. It also asks what have been the ethical foundations of the great civilizations of the past, what part have social customs, cosmological beliefs, and religious authority played in this evolution, and what lessons can be drawn from the experiences of our forefathers. The last part of the chapter discusses of the role of post‐Westphalian states in influencing the moral content and structure of capitalism. During this discussion, the author offers some comparisons and contrasts between the actions taken by the liberal‐minded (Western) governments of the nineteenth century, and their more paternalistic modern counterparts.
Towards a New Paradigm of Development
Authors: Stiglitz Joseph
Published: October 2003

Building on his 1998 Prebisch lecture, presented at UNCTAD in Geneva, the author focuses on the form and content of a new (i.e. post Washington Consensus) paradigm of development, the role of national governments, civil society, and international agencies in helping to promote such development; and the ways in which the appropriate strategies, policies, and processes may best be conceived and delivered. The first main part of the chapter describes a broader vision for the future course of development, based on a transformation of society. The second explains that not only the Washington Consensus but also earlier development paradigms failed because they viewed development too narrowly; this section includes a brief outline of some of the key factors––including recent events in East Asia and the Russian Federation––that have helped in a realization of the inadequacies of the old approaches. The third section outlines what may be regarded as the key principles of a development strategy based on a holistic concept of development, and the fourth identifies the major components of such a development strategy. The chapter concludes with some general observations, focusing on the importance of a full and fair participation in the global economy in furthering development based on the new paradigm presented.
Transformation of Society: Implications for Globalization
Authors: Behrman Jack N.
Published: October 2003

This chapter looks beyond the transformation of economic priorities to those of society (or societies) at large, asking what are the challenges and opportunities of global capitalism for wider societal aspirations and goals, and what are the implications for the attitudes and behaviour of individuals and communities. In the analysis he presents, Jack Behrman pays especial attention to those goals of society, such as good health and the absence of violent behaviour, that are not normally captured in the standard measures of economic welfare. He identifies and discusses seven criteria of acceptability of a new global order, and outlines the contribution of the different elements of society in promoting these in an equitable and sustainable way. Behrman believes that the extended geographical radius of capitalism demands a careful reappraisal of its moral foundations, and offers a blueprint of how such a transformation may be accomplished by a reconfiguration of values and responsibilities.
An Ethical Framework for the Global Market Economy
Authors: Küng Hans
Published: October 2003

In this chapter, the theologian Hans Küng looks at the various attempts to formulate an acceptable cross‐cultural (multicultural) global ethic, which might be used both as an end in itself, and a basis for the motives and conduct of the institutions that fashion global capitalism. Such an ethic (notably that proposed by Küng himself and the Parliament of the World's Religions) is designed to identify and promote an agreed set of core human values and behavioural standards as agreed by the leading faith traditions, but might also be endorsed by non‐religious persons and institutions. Küng is aware of the difficulties in identifying and practising a universally acceptable moral code, but he considers that not only is the idea of such a code gaining increasing support, but it is also undergirding and guiding the strategies and policies of many global institutions, particularly global businesses.
The Challenge of Global Capitalism: The Perspective of Eastern Religions
Authors: Loy David R.
Published: October 2003

The moral ecology of global capitalism is examined from an Eastern religious––and particularly a Buddhist––perspective. David Loy first points out that Buddhism does not depend on a theistic revelation of values and behavioural norms in the way that Abrahamic religions do; rather, it should be thought of as a philosophy revealing the path each of us must walk in order to obtain a wisdom that realizes the true nature of the world, including the true nature of oneself. Such a credo is translated into a pragmatic and undogmatic attitude towards wealth creation, property, and social justice, and to global capitalism as an economic system––Buddhists judge the ’religion of the market’ (as Loy puts it) by the individual and social values it promotes; in this respect, it is found wanting, as all too often it endorses, and even encourages, self aggrandisement, merit‐seeking, and materialism, all of which are unwholesome traits according to Buddhist teaching. To achieve a more morally acceptable economic system, Loy recommends that greater emphasis should be placed on the value of such virtues as social responsibility, compassion, generosity, and wisdom, each of which, far from undermining the benefits of global capitalism, would help ensure a better quality of life for people and a healthier society. To achieve some of these goals, Loy accepts the necessity for top‐down regulatory measures and incentive systems by governments, but believes that, in the long run, only a wider acceptance and spontaneous upgrading by individuals and institutions of the values that Buddhists hold dear will help raise the moral profile of global capitalism.
The Business Community: Social Responsibility and Corporate Values
Authors: Davies Robert
Published: October 2003

This chapter looks at the ethical ingredients, strategies, and conduct of business institutions. This is an important subject, as a great deal of criticism has been, and is being, levelled against the social responsibilities and moral conduct of large enterprises (particularly multinational enterprises, MNEs); some of this, as Robert Davies acknowledges, is justified in respect of some firms, while some is not. This chapter attempts to set the record straight by acknowledging that MNEs do have a responsibility to all their stakeholders and to the community at large, and at the end of the day, judicial or ’proper’ selfishness pays off. He also addresses the social‐cum‐altruistic role of businesses and the business community, and gives several examples of recent businesses, both in the USA and the UK, which by their actions portray the unacceptable face of global capitalism. This is an open‐minded look at the demands being made on the business community by the various stakeholders in global capitalism, and acknowledges that business leaders need to play a more proactive and progressive role in fashioning corporate values and social responsibility, and upgrading these from the realm of business philanthropy.
Global Social Justice: The Moral Responsibilities of the Rich to the Poor
Authors: Williams Shirley
Published: October 2003

Shirley Williams looks more specifically at the moral issues surrounding the global distribution of resources, capabilities, and incomes. She is highly critical of some of the economic policies and political regimes of some of the rich countries, and demonstrates, from Indonesian and Russian examples, how Western governments and international agencies failed to recognize and give support to the institutional reforms necessary to ensure that their transition to a market‐based economic system would be successful. She emphasizes the need for a new and more holistic approach to economic development; indeed, she avers that global social justice demands it. Williams concludes by observing that the moral conscience of society is very much alive, and reminds us of the role of the churches and private individuals that helped initiate the Jubilee 2000 movement, which was geared towards lifting the burden of debt from some of the poorest countries in the world. However, she is clearly not satisfied that either national governments or supra‐national agencies are doing enough to ensure that global capitalism works to the benefit of all the peoples of the world––and particularly to those in the greatest need.
Introduction
Authors: Becht M. , Mayer C.
Published: October 2003

This chapter provides a classification of the pertinent corporate control arrangements in Europe and pulls together the results from an international study of data from the EU's Large Holdings Directive (88/627/EEC), which allows detailed analyses of the control of European corporations to be undertaken for the first time. It records high levels of concentration of control of corporations in many European countries with single blockholders frequently controlling more than 50% of corporate votes. In contrast, a majority of UK‐listed companies have no blockholder owning more than 10% of shares and a majority of US‐listed companies have no blockholder with more than 6% of shares. Distributions of voting blocks reveal that control is concentrated in forms in which regulation confers particular advantages—shareblocks are concentrated at levels at which there are significant control benefits. This suggests a relation between regulation and structure of ownership of companies that goes beyond existing ‘over‐’, ‘under‐’, or ‘optimal‐regulation’ theories.
Shareholding Cascades: the Separation of Ownership and Control in Belgium
Authors: Becht Marco , Chapelle Ariane , Renneboog Luc
Published: October 2003

This paper analyses the control of Belgian listed companies. The analysis reveals that control of listed companies in Belgium is highly concentrated. Business groups, holding companies, and voting pacts play an important role in bringing about this concentration. The main characteristics of the Belgian corporate ownership and equity market can be summarized as follows: (1) few, merely 140, Belgian companies are listed on the Brussels stock exchange, (2) there is a high degree of ownership concentration with an average largest direct shareholding of 45%, (3) holding companies, families, and to a lesser extent industrial companies are the main investor categories whose share stakes are concentrated into powerful control blocks through business group structures and voting pacts, (4) control is levered by pyramidal and complex ownership structures, and (5) there is a market for share stakes.
Ownership and Voting Power in France
Authors: Bloch Laurence , Kremp Elizabeth
Published: October 2003

This paper provides an overview of ownership structure and voting power in France, both in terms of institutional and legal framework, and of quantitative analysis. If cross share holdings in large groups were a characteristic of the French model called ‘financial core’, and had been extended in 1986 with the first wave of privatizations, the foundations of this model seem to be weakened. This organization has not been able to really prevent the increase of foreign presence in French capitalization. Looking at listed firms and CAC40 firms, and at a large dataset of unlisted firms, this paper shows that concentration of direct ownership and voting power is very high in France even for listed and CAC40 firms. The second direct owner lags far behind the first one and the category ‘families’ plays a major role in the detention of non‐listed firms. The average ownership stakes of banks, insurance companies, and other financial institutions are relatively low, except for CAC40 firms.
Pyramidal Groups and the Separation Between Ownership and Control in Italy
Authors: Bianchi Marcello , Bianco Magda , Enriques Luca
Published: October 2003

The Italian corporate governance system features a high concentration of direct ownership, for both listed and unlisted companies. The analysis of direct ownership and of the identity of owners reveals that a major role is played by families, coalitions, the State, and above all by other companies. The largest stake in listed and unlisted companies is held by other non‐financial or holding companies. The amount held by financial institutions is limited. More than 50% of all Italian industrial companies belong to pyramidal groups. The main reason for this structure, especially among listed companies, is the possibility of controlling vast resources with a limited amount of capital.
Ownership and Control in The Netherlands
Authors: de Jong Abe , Kabir Rezaul , Marra Teye , Röell Ailsa
Published: October 2003

This paper analyses ownership and control structures of Dutch listed companies. Legislation, effective since 1992, mandates all shareholders with holdings of 5% or more in Dutch companies to disclose their holdings. Our analysis shows that the average ownership stakes of the largest and the three largest shareholders are 27% and 41%, respectively. The average ownership stakes of banks, insurance companies, and other financial institutions are relatively low. We observe that voting rights are more concentrated than ownership rights; the use of a supervisory board representing interests of different stakeholders is ubiquitous; and listed companies use different forms of anti‐takeover defence measures.
Ownership and Control of Spanish Listed Firms
Authors: Crespí‐Cladera Rafel , García‐Cestona Miguel A.
Published: October 2003

The paper analyses the ownership structure of a large sample of Spanish listed companies. The results show a picture of concentrated ownership where stock markets are relatively less important. Direct ownership and voting blocks, which account for indirect ownership through third companies, are larger for non‐financial firms followed by families or individuals and financial firms other than banks. Nevertheless, the use of intermediate companies (pyramiding) is not frequent according to our data. Banks do not seem to play the important role they did in the past and the recent privatization reduced to a minimum level, state shareholdings on listed companies.
Beneficial Ownership in the United States*
Authors: Becht Marco
Published: October 2003

This chapter compares the European disclosure standard for significant holdings to similar disclosure standards in the US. The empirical results confirm that there are few significant blocks held in the New York Stock Exchange and NASDAQ‐listed companies, putting corporate control into the hand of incumbent boards and/or management.
The Liberal Archipelago
Authors: Kukathas Chandran
Published: October 2003

This book seeks an answer to the question: what is the principled basis of a free society marked by cultural diversity and group loyalties? It contends that a free society is an open society whose fundamental principle is the principle of freedom of association. It advances an idea of a liberal archipelago which provides a better metaphor of the free society.
The Liberal Archipelago
Authors: Kukathas Chandran
Published: October 2003

This chapter discusses a model of the free society. This model is one in which there may be many associations, none of which are ‘privileged’ or regarded as having special moral significance. In such a society, there may be many authorities, but all authority rests on the acquiescence of subjects rather than on justice. Thus, the theory of the free society is an account of the terms by which different ways coexist rather than an account of the terms by which they cohere.
Political Community
Authors: Kukathas Chandran
Published: October 2003

This chapter analyses the nature of the state and political community, and the basis of legitimate authority. It defines community to be able to offer an account of political community. It aims to show that political community is not as important a form of community as has been suggested, especially when the form of political community in question is the state.
The Cultural Construction of Society
Authors: Kukathas Chandran
Published: October 2003

This chapter argues that the purpose of the state is not to promote or foster liberal equality nor serve as the cultural architect or guardian of society. Its role is to serve as an umpire who attends to questions that arise in a society. It examines the idea that the state should pursue equality, and the view that ‘benign neglect’ is an implausible idea, embarrassed by the fact that the state cannot help but shape society.
Feminism, the Family, and the Politics of the Closet
Authors: Calhoun Cheshire
Published: October 2003

This book is about placing sexual orientation politics within feminist theorizing. It is also about defining the central political issues confronting lesbian and gay men. It brings the study of lesbians from the margins of feminist theory to the centre by critiquing the analytic frameworks employed within feminist theory that render invisible the difference of lesbians from heterosexual women. The basic features of lesbian and gay subordination are also addressed by exploring the differences between heterosexual dominance and gender and race relations. Throughout the book, the aim is to re‐centre lesbian and gay politics away from concern with sexual regulations and towards concern with the displacement of gays and lesbians from the public sphere of visible citizenship and from the private sphere of romance, marriage, and family.