Is it better to be a big frog in a small pond or a small frog in a big pond? Here, economist Robert H. Frank argues that concerns about status permeate and profoundly alter a broad range of human behavior. He shows how status considerations affect the salaries people earn, the way they spend them, and even many of the laws, regulations, and cultural norms they adopt. Provocative and insightful, this book is sure to spark widespread and lively debate (...) in classrooms and boardrooms alike. (shrink)

Daniel H. Frank - Spinoza and the Irrelevance of Biblical Authority - Journal of the History of Philosophy 40:2 Journal of the History of Philosophy 40.2 263-264 Book Review Spinoza and the Irrelevance of Biblical Authority J. Samuel Preus. Spinoza and the Irrelevance of Biblical Authority. New York: Cambridge University Press, 2001. Pp. xvi + 228. Cloth, $54.95. This book is the history of ideas at its best. In lesser hands, volumes in the genre tend to be reductionist to (...) the point of redundancy and irrelevance, forcing the reader to wonder about the originality of the thinker under discussion and the ideas in question. If the relevant ideas are no more than those of others, then why should one take an interest in them ? Accounting for originality and genius bedevils the history of ideas. Preus is well aware of the problem of reductionism and redundancy throughout his book and works hard to show how Spinoza is.. (shrink)

In this book, I make use of an idea from economics to suggest how noble human tendencies might not only have survived the ruthless pressures of the material world, but actually have been nurtured by them.

Role of the entrepreneur in a distinct role of profit.

Research on corporate social responsibility has traditionally focused on managerial discretion and stakeholders’ influence. This study extends current research by addressing the effect of family firms and institutional owners on CSR performance, namely, CSR strengths and concerns. Based on stewardship theory and the socioemotional wealth perspective, we propose that family firms are more likely to value CSR performance. Next, drawing from multiple agency theory, we predict that institutional owners, unlike family owners, will influence a firm’s CSR performance differently. We tested (...) our hypotheses using a sample of 153 firms from 1994 to 2006 and found general support for our hypotheses. A higher percentage of family owned equity and the presence of a family CEO are found to increase CSR strengths, whereas transient institutional owners have an opposite effect. The presence of a family CEO and founding family are found to reduce CSR concerns. Contrary to our predictions, dedicated institutional owners are positively associated with CSR concerns. (shrink)

Increasing complexities facing physicians negotiating the bedside decision continue to fuel the debate over who is the appropriate party to offer ethics consults, should one be needed, during the decision-making process. Some very good arguments have been put forth on behalf of clinical ethicists as being the proper and best party to engage in ethics consultations. However, serious questions remain about the role of the clinical ethicist and his ability to provide the necessary level of objectivity called for in an (...) ethics consult.I argue that the clinician's professional psyche, or mode of thinking as a professional, leaves him little room to maneuver as an objective and detached third party ethics consultant. Several factors are cited and discussed that greatly influence the analyses applied to a case problem by physicians. The most formidable of these factors are habits and the practice of defensive medicine. I conclude that clinical ethicists are less suited for the overall tasks required of an objective consultant in medical cases that appear to involve insurmountable ethical issues. (shrink)

Daniel H. Frank - The Book of Job in Medieval Jewish Philosophy - Journal of the History of Philosophy 44:2 Journal of the History of Philosophy 44.2 318-319 Robert Eisen. The Book of Job in Medieval Jewish Philosophy. New York: Oxford University Press, 2004. Pp. xii + 324. Cloth, $55.00 Robert Eisen has written a very good book on medieval philosophical interpretations of the Book of Job. In it he discusses the varying interpretations of Saadia Gaon, Maimonides, Samuel Ibn (...) Tibbon, Zerahiah Hen, Gersonides, and Simon ben Zemah Duran. For readers of this journal, the aforementioned, with the exception of Maimonides and possibly Gersonides, may be just names, but in the context of medieval Jewish philosophy they together present a wonderful discussion.. (shrink)

How important is luck in economic success? No question more reliably divides conservatives from liberals. As conservatives correctly observe, people who amass great fortunes are almost always talented and hardworking. But liberals are also correct to note that countless others have those same qualities yet never earn much. In recent years, social scientists have discovered that chance plays a much larger role in important life outcomes than most people imagine. In Success and Luck, bestselling author and New York Times economics (...) columnist Robert Frank explores the surprising implications of those findings to show why the rich underestimate the importance of luck in success--and why that hurts everyone, even the wealthy. Frank describes how, in a world increasingly dominated by winner-take-all markets, chance opportunities and trivial initial advantages often translate into much larger ones--and enormous income differences--over time; how false beliefs about luck persist, despite compelling evidence against them; and how myths about personal success and luck shape individual and political choices in harmful ways. But, Frank argues, we could decrease the inequality driven by sheer luck by adopting simple, unintrusive policies that would free up trillions of dollars each year--more than enough to fix our crumbling infrastructure, expand healthcare coverage, fight global warming, and reduce poverty, all without requiring painful sacrifices from anyone. If this sounds implausible, you'll be surprised to discover that the solution requires only a few, uncontroversial steps. Compellingly readable, Success and Luck shows how a more accurate understanding of the role of chance in life could lead to better, richer, and fairer economies and societies. (shrink)

Medicine and Money explores the role of beneficence and cost control in health-care systems. The book's primary concern of morally improving medicine is achieved by dividing the argument into two parts. The first defines the crisis in health-care and justifies beneficence. The second part offers practical suggestions on implementing beneficence into the system. Medicine and Money is one of the few books to provide concrete suggestions on improving the health-care system from the micro level for addressing cost concerns in a (...) morally acceptable manner. (shrink)

Although Pessoa et al. imply that many aspects of the filling-in debate may be displaced by a regard for active vision, they remain loyal to naive neural reductionist explanations of certain pieces of psychophysical evidence. Alternative interpretations are provided for two specific examples and a new category of filling-in (of visual detail) is proposed.

Saadya ben Joseph al-Fayyumi, gaon of the rabbinic academy at Sura and one of the preeminent Jewish thinkers of the medieval period, attempted to create a complete statement of Jewish religious philosophy in which all strands of philosophical thought were to be knit into a unified system. In _The Book of Doctrines and Beliefs_, Saadya sought to rescue believers from "a sea of doubt and the waters of confusion" into which they had been cast by Christianity, Islam, and other faiths. (...) By employing philosophical--or kalamic--argumentation to examine and defend traditional Jewish beliefs, Saadya hoped to turn blind faith into conviction based on rational understanding. First published in 1946, and reprinted here without alteration, Alexander Altmann’s judicious abridgment of his own translation has remained the standard edition of this influential work. A new Introduction by Daniel Frank sets Saadya’s work in its broader historical, cultural, and philosophical contexts. (shrink)

Corporate social policy can be viewed as three legs of a tripod: efficient production, stable employment, and a social and political environment that promotes high performance of both workers and managers.Social policy process consists of achieving a balance of corporate interest with other interests in the society. Each policy position taken by the firm alters its relationships with all other interests and creates a new balance. This entails the risk of creating unfriendly interests and losing the support of others, depending (...) on the issue and shift in power. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:Happiness in Premodern Judaism: Virtue, Knowledge, and Well-BeingDaniel H. FrankHava Tirosh-Samuelson. Happiness in Premodern Judaism: Virtue, Knowledge, and Well-Being. Cincinnati: Hebrew Union College Press, 2003. Pp. xi + 596. Cloth, $50.00.Franz Rosenzweig tried hard to convince the neoKantian Hermann Cohen of the merits of Zionism and the normalization it would bring to Jews and Jewish life. His attempt met with this response from Cohen: "Oho! So the gang (...) now wants to be happy, does it?" For those ignorant of the history of Jewish philosophy, one might imagine that Jewish philosophers, no less than their non-philosophical kinsmen, were so weighed down by the burdens of history and persecution that happiness could play no role in their theorizing. But happiness plays a key role in the history of Jewish moral and political philosophy, especially in the premodern period. Even Spinoza, the last of the medievals and the first of the moderns, the great critic of the rabbinic tradition and of Maimonides in particular, is concerned in his Ethics with identifying those activities that together constitute human well-being and the good life. Only lately, since the Enlightenment and Kant, has non-eudaimonism been a live option for Jewish thinkers. Only with the rise of (modern) Orthodoxy, and its predilection for construing goodness as rectitude and rule-following, has eudaimonism fallen out of favor. But with Tirosh-Samuelson's weighty volume on happiness in premodern Judaism, there can be no excuse in the future to imagine that all Jews are, or must be, closet Kantians, strict deontologists. To think otherwise seems to come close to taking on the classical (anti-Semitic) dichotomy of legalistic Judaism vs. spiritual Christianity. In it own way, Happiness in Premodern Judaism is a critique of such a one-sided, monochromatic view of Judaism, whether from the Christian or even from the Jewish side.Tirosh-Samuelson writes explicitly as an intellectual historian, rather than as a philosopher. She understands herself and her project as one that presents just the facts, without evaluating them. While one may cavil at a lost opportunity, in the present case this would be churlish, given the enormous erudition on display. After an introductory chapter outlining the foundational moral theories of Plato, Aristotle, and the Hellenistic philosophers, the text presents the (Greek-inspired) areteic wisdom literature of the Second Temple period, the teleological theocentrism of the rabbis, the Greco-Arabic Islamicate culture that nurtured Jewish philosophers from Saadia in the tenth century to Maimonides in the twelfth, the rabbinic and kabbalistic critiques of the philosophical ideal of happiness commencing [End Page 338] with the translation (into Hebrew) of Maimonides' Guide of the Perplexed at the beginning of the thirteenth century, and finally, very important and the focus of much recent scholarly work, the transformation of Jewish eudaimonism through direct contact with Christian Scholasticism and later with the humanist Renaissance. All in all, a millennium and a half of Jewish intellectual history is presented in a sober and scholarly way.Not surprisingly Maimonides plays a pivotal role in the story that Tirosh-Samuelson relates. A Janus-like figure, he represents the culmination and height of accommodation with Greek and Greco-Arabic philosophical culture. However, with the gradual worsening of the socio-economic condition of European Jewry in the thirteenth century, his accommodationism seemed traitorous, and as a result generations of thinkers, mystics and philosophers alike, strove to critically distance themselves from Maimonidean Aristotelianism. Tirosh-Samuelson is admirably clear in pointing out that such anti-Maimonidean tendencies are ill-characterized as anti-philosophical. Hasdai Crescas in the late-fourteenth and early-fifteenth centuries launched a massive critique of Maimonides' physics, metaphysics, and moral philosophy, but did so in as rigorous a manner as any philosopher would. The picture that enfolds over the course of the text is one of vigorous dialectic between partisans of 'alien' (Greek) wisdom and those who viewed such wisdom with considerable suspicion. Such a dialectic parallels, not surprisingly, developments in Christian philosophy.The trajectory of the story of premodern Jewish musings on happiness is from the centrality of reason and intellect, and the contemplative activity that is reason's preeminent actuality, to the primacy... (shrink)

Personal life events of a chief executive officer can generate tensions between the CEO’s right to personal privacy and the desire of shareholders for information. Such circumstances can create information asymmetry between the executive management and the shareholders of a firm, a situation likely to produce unfavorable pressures on an organization’s stock price. Failure to fully disclose material personal life events can impact the decision-making actions of the CEO, causing the stock price of the firm to vacillate as a result (...) of rumors and other informational uncertainties. These vacillations in stock price may impact a firm’s liquidity, increase the cost of capital, and affect long term returns to shareholders. We draw upon the ethical leadership and signaling theory literatures to demonstrate how a firm can reduce stock price volatility through a CEO making non-required disclosures that reduce information asymmetry. (shrink)

The mid-1880s, like the mid-1870s, were a time of considerable turmoil for American workers. Unemployment and wage cuts were widespread and workers responded with strikes, boycotts, union organizing, local labor tickets, and a bewildering variety of reform schemes and ideologies. Perhaps the central event of the 1880s was the Haymarket incident. The bomb and subsequent trial had a broad historical impact, sparking a red scare, blunting the eight-hour movement, establishing the stereotype of anarchists as wildeyed, foreign bombthrowers, and intensifying calls (...) for immigration restriction. (shrink)

A new motion illusion is discussed in relation to the idea of vision as a Grand Illusion. An experiment shows that this 'Tinkerbell effect' is a good example of a visual illusion supported by low-level stimulus information, but resulting from integration principles probably necessary for normal perception.

In earlier work, I proposed the ‘adaptive standard of rationality’, according to which narrow self-interest models can be broadened by positing additional tastes, but only upon a plausible showing that those tastes do not hamper resource acquisition in competitive environments. This proposal is related to the green beard hypothesis from biology, according to which altruism might be adaptive if its presence could be reliably signaled by some observable feature, such as a green beard. In their contribution to this issue Ernst (...) Fehr and Urs Fischbacher offer theoretical arguments and describe laboratory experiments whose results they interpret as refuting my version of the green beard hypothesis. In this response, I argue that their theoretical arguments and experimental evidence pose no threat to the green beard hypothesis. (shrink)

The temporal granularity of consciousness may be far less fine than the real-time information processing mechanisms that underlie our sensitivity to small temporal differences. It is suggested that conscious time perception, like space perception, is subject to errors that belie a unitary underlying representation. E. R. Clay's concept of the “specious present,” an extended moment represented in consciousness, is suggested as an alternative to the more common notion of instantaneous experience that underlies much reasoning based on the “time of arrival” (...) in consciousness. (shrink)

Philosphical speculations on chosenness and ritual in Judaism.