Science, Policy, and the Value-Free Ideal


Book Description

The role of science in policymaking has gained unprecedented stature in the United States, raising questions about the place of science and scientific expertise in the democratic process. Some scientists have been given considerable epistemic authority in shaping policy on issues of great moral and cultural significance, and the politicizing of these issues has become highly contentious. Since World War II, most philosophers of science have purported the concept that science should be "value-free." In Science, Policy and the Value-Free Ideal, Heather E. Douglas argues that such an ideal is neither adequate nor desirable for science. She contends that the moral responsibilities of scientists require the consideration of values even at the heart of science. She lobbies for a new ideal in which values serve an essential function throughout scientific inquiry, but where the role values play is constrained at key points, thus protecting the integrity and objectivity of science. In this vein, Douglas outlines a system for the application of values to guide scientists through points of uncertainty fraught with moral valence.Following a philosophical analysis of the historical background of science advising and the value-free ideal, Douglas defines how values should-and should not-function in science. She discusses the distinctive direct and indirect roles for values in reasoning, and outlines seven senses of objectivity, showing how each can be employed to determine the reliability of scientific claims. Douglas then uses these philosophical insights to clarify the distinction between junk science and sound science to be used in policymaking. In conclusion, she calls for greater openness on the values utilized in policymaking, and more public participation in the policymaking process, by suggesting various models for effective use of both the public and experts in key risk assessments.




The Value of Everything


Book Description

Who really creates wealth in our world? And how do we decide the value of what they do? At the heart of today's financial and economic crisis is a problem hiding in plain sight. In modern capitalism, value-extraction - the siphoning off of profits, from shareholders' dividends to bankers' bonuses - is rewarded more highly than value-creation: the productive process that drives a healthy economy and society. We misidentify takers as makers, and have lost sight of what value really means. Once a central plank of economic thought, this concept of value - what it is, why it matters to us - is simply no longer discussed. Yet, argues Mariana Mazzucato in this penetrating and passionate new book, if we are to reform capitalism - to radically transform an increasingly sick system rather than continue feeding it - we urgently need to rethink where wealth comes from. Who is creating it, who is extracting it, and who is destroying it? Answers to these questions are key if we want to replace the current parasitic system with a type of capitalism that is more sustainable, more symbiotic: that works for us all. The Value of Everything will reignite a long-needed debate about the kind of world we really want to live in.




The Idea of Value


Book Description




The Genesis of Values


Book Description

Public and intellectual debates have long struggled with the concept of values and the difficulties of defining them. With The Genesis of Values, renowned theorist Hans Joas explores the nature of these difficulties in relation to some of the leading figures of twentieth-century philosophy and social theory: Friedrich Nietzsche, William James, Max Scheler, John Dewey, Georg Simmel, Charles Taylor, and Jürgen Habermas. Joas traces how these thinkers came to terms with the idea of values, and then extends beyond them with his own comprehensive theory. Values, Joas suggests, arise in experiences in self-formation and self-transcendence. Only by appreciating the creative nature of human action can we understand how our values arise.




Science and Moral Imagination


Book Description

The idea that science is or should be value-free, and that values are or should be formed independently of science, has been under fire by philosophers of science for decades. Science and Moral Imagination directly challenges the idea that science and values cannot and should not influence each other. Matthew J. Brown argues that science and values mutually influence and implicate one another, that the influence of values on science is pervasive and must be responsibly managed, and that science can and should have an influence on our values. This interplay, he explains, must be guided by accounts of scientific inquiry and value judgment that are sensitive to the complexities of their interactions. Brown presents scientific inquiry and value judgment as types of problem-solving practices and provides a new framework for thinking about how we might ethically evaluate episodes and decisions in science, while offering guidance for scientific practitioners and institutions about how they can incorporate value judgments into their work. His framework, dubbed “the ideal of moral imagination,” emphasizes the role of imagination in value judgment and the positive role that value judgment plays in science.




The Idea of a Critical Theory


Book Description

The purpose of this series is to help make contemporary European philosophy intelligible to a wider audience in the English-speaking world, and to suggest its interest and importance in particular to those trained in analytical philosophy.




Giving Voice to Values


Book Description

How can you effectively stand up for your values when pressured by your boss, customers, or shareholders to do the opposite? Drawing on actual business experiences as well as on social science research, Babson College business educator and consultant Mary Gentile challenges the assumptions about business ethics at companies and business schools. She gives business leaders, managers, and students the tools not just to recognize what is right, but also to ensure that the right things happen. The book is inspired by a program Gentile launched at the Aspen Institute with Yale School of Management, and now housed at Babson College, with pilot programs in over one hundred schools and organizations, including INSEAD and MIT Sloan School of Management. She explains why past attempts at preparing business leaders to act ethically too often failed, arguing that the issue isn’t distinguishing what is right or wrong, but knowing how to act on your values despite opposing pressure. Through research-based advice, practical exercises, and scripts for handling a wide range of ethical dilemmas, Gentile empowers business leaders with the skills to voice and act on their values, and align their professional path with their principles. Giving Voice to Values is an engaging, innovative, and useful guide that is essential reading for anyone in business.




The Idea of America


Book Description

Debate keeps America vibrant. Debate over what course America should take. Debate over our shared, democratic values. Debate over the extent that our shared values influence public policy—and in which direction. Far from being a sign that our democratic republic is failing, this raucous, controversial, enduring debate—this Great Debate—indicates our republic is healthy. Americans continually seek, in the words of the Preamble to the Constitution, “to form a more perfect union.” Not everyone agrees on how best to do that—and that’s where civic and civil debate comes in. Americans have debated what course the nation should take since before there was a nation.




Quantitative Value, + Web Site


Book Description

A must-read book on the quantitative value investment strategy Warren Buffett and Ed Thorp represent two spectrums of investing: one value driven, one quantitative. Where they align is in their belief that the market is beatable. This book seeks to take the best aspects of value investing and quantitative investing as disciplines and apply them to a completely unique approach to stock selection. Such an approach has several advantages over pure value or pure quantitative investing. This new investing strategy framed by the book is known as quantitative value, a superior, market-beating method to investing in stocks. Quantitative Value provides practical insights into an investment strategy that links the fundamental value investing philosophy of Warren Buffett with the quantitative value approach of Ed Thorp. It skillfully combines the best of Buffett and Ed Thorp—weaving their investment philosophies into a winning, market-beating investment strategy. First book to outline quantitative value strategies as they are practiced by actual market practitioners of the discipline Melds the probabilities and statistics used by quants such as Ed Thorp with the fundamental approaches to value investing as practiced by Warren Buffett and other leading value investors A companion Website contains supplementary material that allows you to learn in a hands-on fashion long after closing the book If you're looking to make the most of your time in today's markets, look no further than Quantitative Value.




Choices, Values, and Frames


Book Description

This book presents the definitive exposition of 'prospect theory', a compelling alternative to the classical utility theory of choice. Building on the 1982 volume, Judgement Under Uncertainty, this book brings together seminal papers on prospect theory from economists, decision theorists, and psychologists, including the work of the late Amos Tversky, whose contributions are collected here for the first time. While remaining within a rational choice framework, prospect theory delivers more accurate, empirically verified predictions in key test cases, as well as helping to explain many complex, real-world puzzles. In this volume, it is brought to bear on phenomena as diverse as the principles of legal compensation, the equity premium puzzle in financial markets, and the number of hours that New York cab drivers choose to drive on rainy days. Theoretically elegant and empirically robust, this volume shows how prospect theory has matured into a new science of decision making.