The article considers the objection to a commercial market in living donor organs for transplantation on the ground that such a market would be exploitative of the vendors. It examines a key challenge to that objection, to the effect that denying poor people the option to sell an organ is to withhold from them the best that a bad situation has to offer. The article casts serious doubt on this attempt at justifying an organ market, and its (...) philosophical underpinning. Drawing, in part, from the catalogued consequences of a thriving kidney market in some parts of India, it is argued that the justification relies on conditions which are extremely unlikely to obtain, even in a regulated donor market: that organ selling meaningfully improves the material situation of the organ vendor. Far from being axiomatic, both logic and the extant empirical evidence point towards the unlikelihood of such an upshot. Finally, the article considers a few conventional counter-arguments in favour of a permissive stance on organ sales. (shrink)

In light of recent doctrinal changes, we examine the confused state of U.S. insider trading law, identifying gaps that permit certain market participants to trade on the basis of material nonpublic information, and contrast U.S. insider trading doctrine with the European approach. We then explore the ethical implications of the status quo in the U.S., explaining why the dominant legal justifications for prohibiting classical insider trading and misappropriation—the fiduciary duty and property rights theories—fail to account for the wrongfulness (...) of insider trading by eavesdroppers and certain tippees. We refute common arguments for legalizing insider trading, including arguments that insider trading is a victimless crime and that the practice promotes efficiency. We explain why insider trading constitutes the moral wrong of cheating, grounding our theory in the legitimate expectations of market participants. Having considered Kantian deontology in other work, we find that virtue ethics theory offers a helpful albeit rough framework for assessing the morality of insider trading independent of its legality. We also find that social contract theories, with norms of equality of opportunity and moral desert, provide a compelling ethical basis for retaining, clarifying and broadening current legal prohibitions against insider trading. (shrink)

The aim of this article is to address the regulatory framework as one of the key factors determining the success of creation of single market for renewable energy. No one could possibly argue that non-discriminative and consistent legal regulation plays a big role in the creation of a single market. Therefore, the question of legal capability to create the single market for renewable energy and the overall quality of present regulatory framework is at the centre (...) of this article. Our objective is to analyse whether the single market for energy produced from renewable sources can be created under current legal regulation of the European Union Therefore, the first part of the article analyses the competence of the European Union to regulate the renewable energy sector and division of legislative powers between the Member States and the European Union. The goal of the first part is to answer the question whether the European Union has the competence to regulate renewable energy market. The second part of the article analyses the legal framework of measures for the promotion of renewable energy production used in each Member State. The goal of the second part of this article is to answer the question – whether all renewable energy producers are in equal competitive position, notwithstanding different legal frameworks of the Member States. (shrink)

Considering efficiency, equality, and morality, this book argues for qualified market expansion, particularly in legalizing kidney sales and prostitution. Legalizing prostitution will benefit both men and women, as argued in a chapter jointly written with Yan Wang. Blood donation without monetary compensation can still result in adequate blood supply if schools educate children that blood donation can actually benefit a donor's health. As a society becomes more advanced, with higher incomes and a better educated populace, more activities can be (...) subject to market exchange, with gradual popular acceptance. Without serious misinformation and irrationality, inequality/fairness as such cannot be a valid reason for limiting the scope of the market. The book supports the use of markets to increase efficiency while also increasing the effort to promote equality, making all income groups better off. (shrink)

This paper traces back the sources of our present legal system and of market economy to Medieval Europe which itself benefited from Hellenistic and Roman legal culture and commercial practices. Roman provinces placed Rome in the wider Greek cultural and commercial world. If Aristotle was already transcending the narrow polis-based conceptions of his predecessors, after him Hellenistic Civilization saw the emergence of a new school of philosophy: Stoicism. The legal thought in the Latin West will hence (...) be characterized by Cicero’s writings and its Stoic sources. The Roman legal system was similar to the later northern European customary law and the English common law; Roman law was evolutionary and customary. The rise of Western individualism, whether it dates back to St. Augustine in the fifth century, or to the two Papal Revolutions of Gregory I (establishing the nuclear family as the core of individualism) and of Gregory VII, also played a crucial role in shaping the western legal tradition. The paper describes the main forces that led to this second (Gregorian) revolution. Monasticism is one of them. Benedictine monasticism plaid a leading role in the Peace of God Movement. Hence collective oath-taking by groups in the name of peace was essential in the founding of cities and in the formation of guilds. Europe’s economic resurgence in the Eleventh Century was on the basis of the creation of the rule of law by the Peace of God movement. This movement also allowed for Europe’s agricultural economy to progress. Indeed, the European Middle Ages is one of the major periods of technological innovation in the history of the world. The Gregorian Revolution itself was supported and financed by the Commercial Revolution: Italian bankers sustained Papal reformers against the Emperors. The independence of the Italian cities and provinces reveals one of the most important consequences of the Gregorian Revolution: the polycentricism of Western Europe. This Revolution also witnessed the first large number of political pamphlets in European history; the Gregorian clergy emphasizing a compact theory of government. Soon after, the order of Cistercians was founded (1098) and underwent spectacular growth during the next two centuries. The Cistercians accepted no rents or labor services from feudal donors but would take only full possession of land to do with it as they wished.These monasteries were the most economically effective units that had ever existed in Europe, and perhaps in the world, before that time. Finally, the Magna Carta (1215) that will be so influential on modern political thought can be seen as a direct consequence of the Gregorian Revolution. (shrink)

One of the most widespread objections to legalizing a market in human organs is that such legalization would stimulate the black market in human organs. Unfortunately, the proponents of this argument fail to explain how such stimulation will occur. To remedy thus, two accounts of how legalizing markets in human organs could stimulate the black market in them are developed in this paper. Yet although these accounts remedy the lacuna in the anti-market argument from the black (...) market neither of them provide reason to believe that legalizing an organ markets would stimulate the black market in organs. Despite its prevalence, then, the argument from the black market should be rejected. (shrink)

The paper discusses legal implications of the expansion of practical uses of mathematics in social life. Taking as a starting point the omnipresence of mathematical infrastructures underlying policies, technology and markets, the paper proceeds by attending to relevant materials offered by general philosophy, legal philosophy, and the history and philosophy of mathematics. The paper suggests that the modern transformation of mathematics and its practical applications have spurred the emergence of multiple useful technologies and forms of social interaction but (...) have impoverished access to meanings originating in the lifeworld. The paper also argues that, as part of devices of interest aggregation and expert networks, mathematical infrastructures can be scrutinized by a revised form of legal practice that subjects them to legal critique and reconstruction in order to overcome conditions that have eroded the moral self-awareness of individuals and communities and their existential meanings. (shrink)

The adversarial legal system is traditionally praised for its normative appeal: it protects individual rights; ensures an equal, impartial, and consistent application of the law; and, most importantly, its competitive structure facilitates the discovery of truth – both in terms of the facts, and in terms of the correct interpretation of the law. At the same time, legal representation is allocated as a commodity, bought and sold in the market: the more one pays, the better legal (...) representation one gets. In this article, I argue that the integration of a market in legal representation with the adversarial system undercuts the very normative justifications on which the system is based. Furthermore, I argue that there are two implicit conditions, which are currently unmet, but are required for the standard justifications to hold: that there is (equal opportunity for) equality of legal representation between parties, and that each party has (equal opportunity for) a sufficient level of legal representation. I, therefore, outline an ideal proposal for reform that would satisfy these conditions. (shrink)

The paper discusses legal implications of the expansion of practical uses of mathematics in social life. Taking as a starting point the omnipresence of mathematical infrastructures underlying policies, technology and markets, the paper proceeds by attending to relevant materials offered by general philosophy, legal philosophy, and the history and philosophy of mathematics. The paper suggests that the modern transformation of mathematics and its practical applications have spurred the emergence of multiple useful technologies and forms of social interaction but (...) have impoverished access to meanings originating in the lifeworld. The paper also argues that, as part of devices of interest aggregation and expert networks, mathematical infrastructures can be scrutinized by a revised form of legal practice that subjects them to legal critique and reconstruction in order to overcome conditions that have eroded the moral self-awareness of individuals and communities and their existential meanings. (shrink)

Artificial intelligence (AI) has sparked interest in various areas, including marketing. However, this exhilaration is being tempered by growing concerns about the moral and legal implications of using AI in marketing. Although previous research has revealed various ethical and legal issues, such as algorithmic discrimination and data privacy, there are no definitive answers. This paper aims to fill this gap by investigating AI’s ethical and legal concerns in marketing and suggesting feasible solutions.,The paper synthesises information from academic (...) articles, industry reports, case studies and legal documents through a thematic literature review. A qualitative analysis approach categorises and interprets ethical and legal challenges and proposes potential solutions.,The findings of this paper raise concerns about ethical and legal challenges related to AI in the marketing area. Ethical concerns related to discrimination, bias, manipulation, job displacement, absence of social interaction, cybersecurity, unintended consequences, environmental impact, privacy and legal issues such as consumer security, responsibility, liability, brand protection, competition law, agreements, data protection, consumer protection and intellectual property rights are discussed in the paper, and their potential solutions are discussed.,Notwithstanding the interesting insights gathered from this investigation of the ethical and legal consequences of AI in marketing, it is important to recognise the limits of this research. Initially, the focus of this study is confined to a review of the most important ethical and legal issues pertaining to AI in marketing. Additional possible repercussions, such as those associated with intellectual property, contracts and licencing, should be investigated more deeply in future studies. Despite the fact that this study gives various answers and best practices for tackling the stated ethical and legal concerns, the viability and efficacy of these solutions may differ depending on the context and industry. Thus, more research and case studies are required to evaluate the applicability and efficacy of these solutions in other circumstances. This research is mostly based on a literature review and may not represent the experiences or opinions of all stakeholders engaged in AI-powered marketing. Further study might involve interviews or surveys with marketing professionals, customers and other key stakeholders to offer a full knowledge of the practical difficulties and solutions. Because of the rapid speed of technical progress, AI’s ethical and regulatory ramifications in marketing are continually increasing. Consequently, this work should be a springboard for more research and continuing conversations on this subject.,This study’s findings have several practical implications for marketing professionals. Emphasising openness and explainability: Marketing professionals should prioritise transparency in their use of AI, ensuring that customers are fully informed about data collection and utilisation for targeted advertising. By promoting openness and explainability, marketers can foster customer trust and avoid the negative consequences of a lack of transparency. Establishing ethical guidelines: Marketing professionals need to develop ethical rules for the creation and implementation of AI-powered marketing strategies. Adhering to ethical principles ensures compliance with legal norms and aligns with the organisation’s values and ideals. Investing in bias detection tools and privacy-enhancing technology: To mitigate risks associated with AI in marketing, marketers should allocate resources to develop and implement bias detection tools and privacy-enhancing technology. These tools can identify and address biases in AI algorithms, safeguard consumer privacy and extract valuable insights from consumer data.,This study’s social implications emphasise the need for a comprehensive approach to address the ethical and legal challenges of AI in marketing. This includes adopting a responsible innovation framework, promoting ethical leadership, using ethical decision-making frameworks and conducting multidisciplinary research. By incorporating these approaches, marketers can navigate the complexities of AI in marketing responsibly, foster an ethical organisational culture, make informed ethical decisions and develop effective solutions. Such practices promote public trust, ensure equitable distribution of benefits and risk, and mitigate potential negative social consequences associated with AI in marketing.,To the best of the authors’ knowledge, this paper is among the first to explore potential solutions comprehensively. This paper provides a nuanced understanding of the challenges by using a multidisciplinary framework and synthesising various sources. It contributes valuable insights for academia and industry. (shrink)

The article analyses the legal regulation of electronic marketing in the European context. The historical and teleological perspective on past and present regulations of electronic marketing is provided. Emphasis is given on the ability of the legal rules to preserve the balance of private and entrepreneurial interests, and the desirable principles of the regulation of the socially beneficial electronic marketing. The paper concludes that the harmonization of legal regulation of electronic marketing at the European Union level is (...) limited, which causes numerous negative consequences, such as jurisdiction shopping. Some countries (e.g. Finland) follow opt-out regimes for at least some types of electronic marketing, while other countries (including Lithuania) prohibit most forms of electronic marketing without the prior consent of the customer (opt-in). Thus, further regulation and harmonization of the electronic marketing law is suggested at the regional (the EU) and national level, along with more self-regulation and a balanced approach towards future regulation. (shrink)

The article analyzes the changes of legal regulation on natural gas market in the context of the third European Union (EU) energy package. The paper consists of the introduction, two parts and conclusions. The first part analyses the main provisions on the natural gas market of the Third EU energy package. The second part of the paper focuses on the effect of the Third EU energy package on legal regulation of natural gas market in Lithuania. (...) For this purpose, the author analyzes the relevant provisions of the future legal regulation that are laid out in the Conception on draft amendment of the Lithuanian law on natural gas (the Conception) that was adopted by the Resolution of 19 May 2010 No. 585 of the Government of the Republic of Lithuania (the Government). The author analyses the chosen model of implementation of the Directive 2009/73/EC of the European Parliament and of the Council concerning common rules for the internal market in natural gas of 13 July 2009 and repealing Directive 2003/55/EC (Directive 2009/73/EC), and the possible negative and positive consequences of the implementation of the model chosen by the drafters of the Conception. The paper is ended with motivated conclusions. (shrink)

On the extreme wing of libertarian ideology are the individualist anarchists, who wish to dispense with government altogether. The quasi-legitimate functions now performed by government, such as the administration of justice, can, the anarchists claim, be provided in the marketplace. George H. Smith.

The article analyses the legal status of the natural gas market regulatory institutions in Lithuania and in the member states of the European Union. First, the authors assess the most important elements of the legal status of the natural gas market regulators in the EU member states, namely, the degree of autonomy (type of institution, appointment and dismissal procedures of management, duration of the terms of office, sources of funding) and the measures aimed at ensuring accountability, (...) transparency, and prevention of conflicts of interest. Second, the legal status of the National Control Commission for Prices and Energy, which carries out functions of regulation and control of the natural gas sector in Lithuania, is examined. Finally, the authors conclude that the imperfections in the regulation of the legal status of the Commission result in several negative effects and provide reasoned proposals regarding the improvement of the legal status of the Commission. (shrink)

Multi-level marketing companies such as Amway, Herbalife, or Tupperware differ from most other companies. They market their products and services by means of self-employed distributors who typically work from home, sell products to end consumers, and recruit, motivate, and educate new distributors to do the same. Although the industry’s growth seems to illustrate the attractiveness of MLMs, the industry has been facing several legal and ethical problems. In this paper, we focus on these problems and argue that an (...) extended MLM model may help us to understand why such problems continue to occur, despite the countermeasures that have been implemented. By explicating how problems relate to a specific but often overlooked characteristic of MLMs, i.e., the so-called distributor network, we provide an extended understanding of MLMs’ mode of operation, the sources of their legal and ethical problems, and the reason that currently implemented and suggested countermeasures may not suffice. Moreover, based on our extended understanding of MLMs and their problems, we propose additional countermeasures. (shrink)

International law holds that a firm is dumping if its foreign price is either below its domestic price or below its marginal cost. Domestic firms often claim that a low-cost foreign firm is engaged in a long run strategy to destroy the domestic industry and harm domestic consumers. Dumping is a permanent feature of marketing strategies of numerous companies, and anti-dumping complaints are increasingly resorted to as a defensive instrument to stop the challengers. This article offers a synthesis of ethical (...) and legal issues involved and relates them to marketing concerns in international operations. What is the current state of dumping legislation? What concern over personal ethics should a manager have? Using teleological and deontological philosophies of ethics the argument is made that the marketing manager who set very low prices for an international market is not behaving unethically. (shrink)

Not since the civil rights era has enacted national legislation been fought so fiercely as the Patient Protection and Affordable Care Act. Political, ideological, and social forces have mobilized to undermine the ACA at numerous fronts, including the Supreme Court, Congress, state governments, and the court of public opinion. The ACA has survived a constitutional challenge, a presidential re‐election, numerous repeal votes in the House, and avowedly obstreperous state regulators. But it has not yet run the full gauntlet of lethal (...) strategies. The latest line of attack is a collection of orchestrated lawsuits seeking to keep the federal exchange from paying any premium tax subsidies.What if the challengers eventually prevail? What would happen then? (shrink)

This book explores the transformational impact of new technological developments on legal practice. More specifically, it addresses knowledge management, communication, and e-discovery related technologies, and helps readers develop the project management and data analysis skills needed to effectively navigate the current, and future, landscapes. It studies the impact of current trends on business practices, as well as the ethical, procedural, and evidentiary concerns involved. Introducing novel interactive technologies as well as traditional content, the book reflects expertise from across the (...) legal industry, including practitioners, the bench, academia, and legal technology consultants. All of the contributing authors currently teach aspiring lawyers and/or paralegals and have identified a gap in the available instructional material. Rapid technology advances have radically changed the way we all live and work, and the legal profession is by no means exempt from the impact of these changes. In order to better assist their clients, and to better compete on the legal market, it is imperative for lawyers to understand the ethical, functional, and business consequences of new technologies on their respective practices. This book provides the necessary content by including legal technology texts, information about novel pedagogical technologies, helpful tools for managing legal technologies and IT staff, statistical methods, tips and checklists. (shrink)

We do not always benefit from the expansion of our choice sets. This is because some options change the context in which we must make decisions in ways that render us worse off than we would have been otherwise. One promising argument against paid living kidney donation holds that having the option of selling a ‘spare’ kidney would impact people facing financial pressures in precisely this way. I defend this argument from two related criticisms: first, that having the option to (...) sell one’s kidney would only be harmful if one is pressured or coerced to take this specific course of action; and second, that such forms of pressure are unlikely to feature in a legal market. (shrink)

This paper argues for the legalization of vote markets. I contend that the state should not prohibit the sale of votes under certain institutional conditions. Jason Brennan has recently argued for the moral permissibility of vote selling; yet, thus far, no philosopher has argued for the legal permissibility of vote selling. I begin by giving four prima facie reasons in favour of legalizing vote markets. First, vote markets benefit both buyers and sellers. Second, citizens already enjoy significant discretion in (...) their use of their vote, including the ability to use their vote in ways antithetical to justice and the public interest. Third, vote markets are relevantly similar to other democratic practices that are legally permissible. Fourth, vote markets enable elections to better reflect the intensity of citizens’ preferences. Next, I reply to two counter-arguments. The first contends that vote markets will increase the political power of the wealthy; the second contends that votes must be used in the serv.. (shrink)

If free markets consist in nothing more than “capitalist acts between consenting adults,” and if in the old legal maxim “volenti non fit injuria,” then it seems to follow that free markets do no wrongs. But that defense of free markets wrenches the “volenti” maxim out of context. In common law adjudication of disputes between two parties, it is perfectly appropriate to cast standards of “volenti” narrowly, and largely ignore “duress via third parties” (wrongs done to or by others (...) who are not themselves party to the action). In economic markets, of course, those third-party effects are rife. But we want them to be rectified systematically, not piecemeal through particular cases between particular parties that happen to come to court. That is the proper province of political philosophers and system-designers, in critiquing and constraining the operation of the market. (shrink)

A legal system is any institution or set of institutions in a given society that provides dispute resolution in a systematic and reasonably predictable way. it does so through the exercise of three functions: the judicial, the legislative, and the executive. The judicial function, the adjudication of disputes, is the core of any legal system; the other two are ancillary to this. The legislative function is to determine the rules that will govern the process of adjudication (this function (...) may be merged with the judicial function, as when case law arises through precedents, or it may be exercised separately), while the executive function is to secure submission (through a variety of means, which may or may not include violence) to the adjudicative process and compliance with its verdicts. A government or state (for present purposes i shall use these terms interchangeably) is any organisation that claims, and in large part achieves, a forcibly maintained monopoly, within a given geographical territory, of these legal functions, and in particular of the use of force in the executive function. now the market anarchist objection to government is simply a logical extension of the standard libertarian objection to coercive monopolies in general.1 First, from a moral point of view, among people regarded as equals2 it cannot be legitimate for some to claim a certain line of work as their own privileged preserve from which others are to be forcibly excluded; we no longer believe in the divine right of kings, and on no other basis could such inequality of rights be justified. Second, from an economic point of view, because monopolies are insulated from market competition and hold their customers by force, they lack both the information and the incentive to provide consumers with fair, efficient, and inexpensive service. The anarchist accepts these arguments, and merely asks why they should apply with any less force to the provision of legal services. (shrink)

Distant Harms, Distant Markets looks at moral complicity in markets, employing resources from sociology, early Christian history, feminism, legal theory, and Catholic moral theology today. The authors skillfully explore the causal and moral responsibilities which consumers bear for the harms that markets cause to distant others.

In the 19th century, ‘scientific archaeologists’ split from their antiquarian colleagues over the role that provenience (context) plays in the value of an artifact. These archaeologists focus on documenting an artifact’s context when they remove it from its original location. Archaeologists then use this contextual information to place these artifacts within a particular larger assemblage, in a particular time and space. Once analyzed, the artifacts found in a site or region can be used to document, to understand, and explain the (...) past. Given the central place of context for archaeological excavation, archaeologists have done everything in their power to combat the black market. Hoping to stem the tide, archaeologists have leveled attacks on those who excavate these materials, those who traffic in them, and those who purchase them. Unfortunately, despite decades of argument and legal wrangling, archaeologists have been unable to stop the black market. The purpose of this paper is to analyze this failure from the supply side (what archaeologists call looting) and to suggest better ways to engage other stakeholders to the benefit of most, if not all. (shrink)

Law is usually understood as an orderly, coherent system, but this volume shows that it is often better understood as an entangled web. Bringing together eminent contributors from law, political science, sociology, anthropology, history and political theory, it also suggests that entanglement has been characteristic of law for much of its history. The book shifts the focus to the ways in which actors create connections and distance between different legalities in domestic, transnational and international law. It examines a wide range (...) of issue areas, from the relationship of state and indigenous orders to the regulation of global financial markets, from corporate social responsibility to struggles over human rights. The book uses these empirical insights to inform new theoretical approaches to law, and by placing the entanglements between norms from different origins at the centre of the study of law, it opens up new avenues for future legal research. This title is also available as Open Access. (shrink)

Although very numerous ethical issues in the market of famous paintings are commented on, those aspects of auctions, Freedom of creation and preservation of cultural assets were picked up in this study to discuss, for the 3 aspect are the objects involved in legal problems, not to mention moral problems causing problems even between the nations. First, Auction related ethical issues include forgeries, appraisal and auctions. Forgeries include the coping or cribbing of the whole of an original Work, (...) division of an original work, completion of an incomplete original work and selling of work for education, etc. The appraisal distinguishing imitation from an original is conducted in 2 ways, one of which is to identify genuine and fake, and the other is price appraisal. However, our country is lack of appraisers and appraisal organizations, along with incomplete appraisal system and appraisal procedures. Appropriate appraisal distinguishing imitation from an original will enable transparent trade of famous paintings contributing to the revitalization of their market. Auction is contributing to the legalization of the trade in various great paintings heightening the public confidences for the great works of art. However, the participants in the trade through action are required high ethics not to use it as a means of tax evasion. Together with the rise in ethics of the people running art museum to preserve and exhibit the great works of art. The ethical issues relating to the freedom of creation include the production and censorship of licentious pictures and pornographies. Those who claim for the freedom of creation take a stand that the making of licentious pictures and pornographies should also be permitted acknowledging their artistic values, and making censorship unnecessary, for sexual amusements are also a part of human life. On the other hand, people on the opposite side insist that the freedom of creation need to be limited from the moral and educational views tightening the censorship. Some of the licentious pictures in the Chosen Dynasty hold artistic values and used for education purposes. However, the social conditions of today that stressing the merchantable quality of the famous paintings make them unfree from the issue of pornography censorship. The cultural assets related ethical issues are involved in thefts, plunders, returns, destructions and preservations of the cultural assets of great works of art. Such issues sometimes become the causes for diplomatic conflicts between the nations. What is important in this matter is our peoples' high ethics in culture. Nationwide and pan-national concerns for the movement of repatriating cultural assets of the great works of Art are required. The destructions of the famous paintings are done by artificially ways and natural disasters. Either way is in need of our ethics to prevent any destruction of cultural assets and strong sense of obligations of the people involved in cultural assets restoration. (shrink)

The present article explores the inner tensions of the legal culture in consumer society as a consequence of the interaction between democracy, liberalism and market economy under globalization. The interaction between democracy and modern political thought has given rise to liberal democratic society, moral and religious pluralism, and modern law. The interplay between liberal democracy and the market (“new liberalism”) has generated the idea of “instrumental reason”, whose penetration into many realms of life has transformed the structure (...) of society and democracy itself: consumer society and a dangerous tendency of social decline prevail. Under the expansion of globalization and social decline, instrumental law may not be enough to ensure the functioning of society. Consumer society does not understand modern law and thus renders it inefficient. (shrink)

Christopher Freiman, Jason Brennan, and Peter M. Jaworski have recently defended markets in votes. While their views differ in several respects they all believe that the primary justificatory burden lies not with those who defend markets in votes but with those who oppose them. Yet while the burden of proof should typically rest with those who wish to prohibit markets in certain goods this does not hold for the debate over markets in votes. Votes are crucially different from other goods (...) in that for a market in them to exist, it is not enough that it be legalized; it must also be provided with institutional support so that the buyer of a vote would know that it has been cast as she wished. Defenders of markets in votes must thus provide positive arguments for the view that markets in votes should be institutionally facilitated—they cannot simply try to shift the burden of proof onto those who oppose them. This is bad news for those who defend the legalization of vote-buying, for none of the positive arguments that Freiman has offered in favor of the legalization of this type of vote-buying are sound. (shrink)

In order to re-make the world in its own image, neoliberal expansionism is predicated on the dominance of a particular regime of reason. The dominance of economic-juridical rationality relies in no small part on education to reproduce itself. In this sense, how and why a populace is educated in the law becomes a locus of struggle and of alternative and competing constructions of normative and political orders. Over the last decade the United Kingdom’s justice policy has become more attentive to (...) the role of citizens’ knowledge of the law in the context of a reinvigorated drive toward competition in the legal services market. Reformism in legal services thereby emerges as a strategy geared toward the economisation of the state by propagating specific types of legal knowledge. This reorientation of legal education is considered through, on the one hand, the insights of recent theories of neoliberalism and, on the other, a wider lens relating the intersection of legal education to the juridical-political realm. Finally, the paper outlines alternative strategies of community-based educational practices rooted in resistance to legal and economic orthodoxies. (shrink)

ABSTRACT:Like most egalitarian political philosophers, John Rawls believes that a just society will rely on markets and business firms for much of its economic activity—despite acknowledging that market systems will tend to create very unequal distributions of goods, opportunities, power, and status. Rawls himself remains one of the few contemporary political philosophers to explore at any length the way an egalitarian theory of justice might deal with fundamental options in political economy. This article examines his arguments and conclusions on (...) these topics. It argues that contemporary Rawlsians will reach different conclusions if they take more seriously than Rawls himself did: (1) the implications, for the political culture and the democratic regulatory state, of large firms competing in adversarial markets characterized by the inevitable “fact of market failure,” and (2) the relevance of ownership and governance relationships involving different kinds of business firms. And with respect to the second point, Rawlsians and other egalitarians have much to learn from contemporary economic, legal, and sociological theories of the firm, and the role of these theories in the structure of and rationale for corporate law. This is the kind of social theory that Rawls believes is relevant to the justification and application of theories of justice, but he himself did not appeal to it in his writings on political economy. Contemporary egalitarians can and should appeal to it now, and in doing so correct errors and omissions in Rawls’s analysis. But taking seriously the two points mentioned above will also force egalitarians who support efficient markets to face difficult dilemmas or compromises of their own. (shrink)

This article analyses the current state of empirical legal research in the law and the regulation of financial markets. It aims to provide a brief survey of the main work done either by lawyers or by others but which is pertinent to the operation of law and regulation. It focuses on six main areas of research and debates. These are the debates on the efficient markets hypothesis and mandatory disclosure rules in securities regulation; studies on behavioralism and their impact (...) on disclosure as a tool for protecting investors; studies on the impact of rules relating to market misconduct on market development; research into the relationship between legal rules and securities market development; evidence of the unintended impacts of regulation; and research into the dynamics of financial market regulatory regimes. Finally, this article mentions that understanding the general context in which law and regulation operates deepens our understanding of the nature, potential, and limits of law and regulation themselves. (shrink)

Growing research suggests social ventures (SVs) variably combine social and profit orientations in core organizational features, and this variation in hybridity leads to divergent organizational dynamics and outcomes. However, no comprehensive and precise measurement scale has emerged to capture the varying degrees of hybridity across SVs. To advance theory and empirical research, this study presents an instrument for assessing how organizational actors perceive the degree to which social and market logics are (a) compatible and (b) central to organizational functioning. (...) An inductive-confirmatory two-study approach ( Nstudy1 = 293, Nstudy2 = 315) validates a hybridity scale—composed of 6-item compatibility and 4-item centrality factors—for U.S. nonprofit organizations, benefit corporations, and social enterprises. Moreover, results reveal perceived compatibility is associated with SVs’ revenue structure, whereas centrality is related to their legal status. The development of this scale will facilitate large-scale quantitative research that systematically examines the varied nature, drivers, and implications of organizational hybridity. (shrink)

This paper offers the first moral defense of markets in votes in a democratic electoral system based on majority rule where there are no moral restrictions on how votes can be cast. In Part 1 I outline the type of vote buying that I defend in this paper, and defend my methodological assumption. In Part 2 I criticize Freiman’s arguments for legalizing vote buying. In Part 3 I outline and reply to some responses that could be made to my criticisms (...) of Freiman’s arguments. In Part 4 I draw from the flaws in Freiman’s arguments to argue that vote buying is morally permissible and defend these arguments against objections. (shrink)

Human organs available for transplant are in short supply. One way to increase the supply of organs consists in legalizing a live donor market. Such a market is, however, controversial. This article is about an objection to live donor organ markets made by Simon Rippon. Rippon’s objection is that the presence of a market option creates new social and legal pressures that harm the poor. Legalizing the option of selling your organs transforms into a harmful, and (...) morally indefensible, social, and legal pressure to sell on the financially desperate. This article defends the conclusion that Rippon’s argument fails as an objection to live donor organ markets. It fails because it has implausibly expansive implications about which markets are morally problematic. In short, Rippon’s argument proves too much. Sections one and two introduce Rippon’s argument. Sections three and four contain the argument against Rippon. The main argumentative move is that the features of an organ market that, according to Rippon, justify a ban on such a market are features that also characterize several other markets that are normally considered unproblematic, for example, markets where individuals sell their labour abroad in jobs that are dangerous. So, if an organ market should be legally impermissible, so should these labour markets. Section five considers several objections to the argument against Rippon. It is argued that these objections fail. Section six is a conclusion that sums up the findings of the article. (shrink)

Homeopathy is a non-traditional medical treatment which came to Europe a few hundred years ago and is presently attributed to the complementary and alternative medicine. Although the assessment of evidence on effectiveness of homeopathic medicinal products has been very contradictory, homeopathy in practice is the only form of alternative medicine that has received certain legal recognition. The paper focuses on the study of the legal regulation of homeopathy in the European Union and in national law. The author analyses (...) the contents of the concept of ‘homeopathic medicinal product’ and the EU legal norms on harmonisation of procedures for registry of homeopathic medicinal products in the Member States. It is concluded that the market of homeopathic medicinal products in the EU still lacks coherence and unity. (shrink)

This article analyses the current state of empirical legal research in the law and the regulation of financial markets. It aims to provide a brief survey of the main work done either by lawyers or by others but which is pertinent to the operation of law and regulation. It focuses on six main areas of research and debates. These are the debates on the efficient markets hypothesis and mandatory disclosure rules in securities regulation; studies on behavioralism and their impact (...) on disclosure as a tool for protecting investors; studies on the impact of rules relating to market misconduct on market development; research into the relationship between legal rules and securities market development; evidence of the unintended impacts of regulation; and research into the dynamics of financial market regulatory regimes. Finally, this article mentions that understanding the general context in which law and regulation operates deepens our understanding of the nature, potential, and limits of law and regulation themselves. (shrink)

Markets have long had a whiff of sulphur about them. Plato condemned innkeepers, whose pursuit of profit he believed led them to take advantage of their customers, Aristotle believed that the pursuit of profit was indicative of moral debasement, and Cicero held that retailers are typically dishonest as this was the only path to gain. And even those who are more favorably disposed towards markets in general are frequently inclined to be suspicious of markets in medical goods and services. For (...) example, Margaret Thatcher supported the legal prohibition of markets in kidneys despite being arguably the most pro-market Prime Minister the United Kingdom saw in the 20th century. (shrink)

The target article challenges the increasingly popular portrayal of living kidney sale as potentially a mutually beneficial arrangement, capable not only of saving or improving the lives of patients in need of transplants but also of significantly benefiting poor vendors. Carefully reviewing the literature on harms to vendors in illegal kidney markets and in Iran’s legal market, Koplin argues that many of these harms would persist in the sort of legal regulated system that kidney sale advocates envision. (...) This is an important argument. The kidney sales debate has been skewed in favor of permitting sales by a simplified view of the potential harms involved and excessive optimism about the capacity of regulation to prevent these harms. The article counterbalances these tendencies and thus considerably weakens the case for allowing sales. Nonetheless, some market proponents might remain unconvinced. I shall suggest that in addition to the lessons that Koplin draws from existing kidney markets, there is yet another one, which casts further doubt on the advisability of allowing kidney sales. (shrink)

The paper challenges a minimalist strategy in business ethics that maintains if it's legal, it's moral. In hard cases, judges decide legal issues by appealing to moral ideals. Investigation shows that the bedrock concept is fairness. Often judges define fairness in terms of non-coerciveness or equality of bargaining power. The prudent manager must look beyond the legal department to the ethical notion of fairness. Moreover, if the courts were to consistently appeal to non-coerciveness and equality of bargaining (...) power, some practices now considered morally acceptable would be neither moral nor legal. (shrink)