scholarly journals Trust and Distributive Justice in John Locke's Politics of Money

2021 ◽  
pp. 1-23
Author(s):  
Lee Ward
Keyword(s):  
Monetary Policy ◽  
Distributive Justice ◽  
Economic Exchange ◽  
Standard View ◽  
Moral Foundation ◽  
Putative Role ◽  
Political Deliberation ◽  
Political Works ◽  
Shed Light

Abstract Modern commentators tend to view John Locke's theory of money either in terms of a process of naturalization placing currency completely beyond the realm of politics or as an effort to provide a moral foundation for a convention subject to epistemic instability. This study builds on the latter interpretation but offers an alternative to the standard view that Locke sought to remove monetary policy from the scope of ongoing political deliberation. While Locke emphasized the concept of trust necessary for the networks of credit and economic exchange, his account of money also prioritized prudential judgments and distinct discursive contexts, especially relating to distributive justice. Locke's economic tracts give reason to reconsider his putative role as founder of the “sound money” doctrine and shed light on aspects of his statecraft only partly visible in his more familiar political works.

scholarly journals The Aftermath of the Tariff War on China

2020 ◽  
Vol 16 (2) ◽  
pp. 22
Author(s):  
Nicholas Bitar
Keyword(s):  
Monetary Policy ◽  
Positive Impact ◽  
New Keynesian ◽  
Us Economy ◽  
The Us ◽  
Short Run ◽  
The Interest Rate ◽  
Positive Effect ◽  
Shed Light ◽  
Trump Administration

Will the US sustain its economy after the tariff war with China, or will the economy regress? This paper offers a conceptual framework, based on the tenets of New-Keynesian theory, to answer this question. I anticipate that the tariff will have a positive effect on the GDP of the US economy in the short run while prices will rise. When adding the most recent reforms of interest cut by the Fed to 1.75% in September (2019) the model concludes a better outcome. Followed by an expansionary monetary policy by reducing the interest rate, the aftermath of the tariff war on China seems to have a positive impact on the US income and productivity. Obviously, some critics to the Trump Administration indeed shed light on the curtailed global and US social welfare that is caused by the inflationary effect of the tariff war, in addition to the deteriorating conditions for some trading sectors in the US which would certainly lead to unemployment. But the benefits to the US economy that are translated by the New-Keynesian theoretical framework show a positive impact on US production, employment, and GDP.

scholarly journals Elaboration of moral mattes questionnaire

2019 ◽  
pp. 107-112
Author(s):  
Oleg A. Sychyov ◽  
Irina N. Protasova ◽  
Igor' V. Anoshkin
Keyword(s):  
Distributive Justice ◽  
Factor Structure ◽  
Moral Norms ◽  
Moral Foundation ◽  
Preliminary Results ◽  
Egalitarian Justice ◽  
Elder People

The article presents the preliminary results of elabouration of moral mattes questionnaire aimed at assessment of sensitivity to violation of moral norms such as ban of harm, distributive justice, egalitarian justice, loyalty, hierarchy, purity and sanctity. Confirmation of the theoretical factor structure was demonstrated in the sample of 529 students. Using the moral foundation questionnaire (MFQ) we obtained data on validity of the scales which indicate on similarity but not equivalence of the constructs used in these questionnaires. We discovered that the evaluation of violation of the hierarchy and purity norms is more severe in elder people, and women give more strict evaluation of violation of the purity norms while men are stricter at estimating of violation of loyalty and distributive justice norms.

Is ‘Transition’ Possible?

2020 ◽  
pp. 135-160
Author(s):  
Philippe Bihouix
Keyword(s):  
Monetary Policy ◽  
Household Debt ◽  
Purchasing Power ◽  
Use Of Resources ◽  
Downward Pressure ◽  
Shed Light

This chapter addresses the question of whether effecting a transition from a society in peril to a world of low-technology is prudent in its use of resources. It discusses the questioning approach that has made a number of analyses of societal 'crises' in order to shed light on different aspects of a complex grasp to reality. It also recounts the implementation of a monetary policy when the rates of profit declining in the late 1960s deliberately generated unemployment in order to maintain downward pressure on wages and encourage increased household debt to maintain sufficient demand and production. The chapter discusses the decline in purchasing power owed to debt or unemployment, which inevitably slows demand. It describes the efforts of engineers and advertisers to encourage the technical or cultural obsolescence of products.

scholarly journals Lying, Uptake, Assertion, and Intent

2016 ◽  
Vol 8 (2) ◽  
pp. 314-333 ◽  
Author(s):  
Angelo Turri ◽  
John Turri
Keyword(s):  
Social Science ◽  
Psychological Processes ◽  
Behavioral Experiments ◽  
Standard View ◽  
Shed Light ◽  
Intent Attributions

A standard view in social science and philosophy is that a lie is a dishonest assertion: to lie is to assert something that you think is false in order to deceive your audience. We report four behavioral experiments designed to evaluate some aspects of this view. Participants read short scenarios and judged several features of interest, including whether an agent lied. We found evidence that ordinary lie attributions can be influenced by aspects of audience uptake, are based on judging that the agent made an assertion (assertion attributions), and, at least in some contexts, are not based on attributions of deceptive intent. The finding on assertion attributions is predicted by the standard view, but the finding on intent attributions is not. These results help to further clarify the ordinary concept of lying and shed light on the psychological processes involved in ordinary lie attributions and related judgments.

Powerful Individuals Behave Less Cooperatively in Common Resource Dilemmas When Treated Unfairly

2019 ◽  
Vol 66 (3) ◽  
pp. 177-186
Author(s):  
Xiuxin Wang ◽  
Mengli Wang ◽  
Qian Sun ◽  
Qianyun Gao ◽  
Yongfang Liu ◽  
...  
Keyword(s):  
Distributive Justice ◽  
Low Power ◽  
High Power ◽  
Social Dilemmas ◽  
Third Parties ◽  
Perceived Fairness ◽  
Common Resource ◽  
Sense Of Power ◽  
Shed Light

Abstract. Previous research has suggested that power undermines cooperation in social dilemmas. However, the story may not be so simple. Guided by recent findings that power heightens sensitivity to unfairness, we examined the moderating effect of distributive justice on the association between power and cooperation. Across two experiments, when treated unfairly, high-power (vs. low-power) participants perceived greater unfairness. Moreover, high-power (vs. low-power) participants behaved less cooperatively not only when they interacted with the offender who treated them unfairly (Experiment 1), but also when they interacted with innocent third parties (Experiment 2). However, high-power and low-power participants showed no difference in perceived fairness and cooperation when treated fairly. These findings shed light on the association between power and cooperation by suggesting the modulating role of distributive justice, and they remind us that researchers should take participants’ personal sense of power into account when manipulating fairness.

scholarly journals Monetary policy and energy price shocks

2017 ◽  
Vol 17 (2) ◽  
Author(s):  
Bao Tan Huynh
Keyword(s):  
Monetary Policy ◽  
New Keynesian ◽  
Energy Price ◽  
Price Shocks ◽  
Endogenous Production ◽  
Supply Shocks ◽  
Price Rigidities ◽  
Convex Costs ◽  
Shed Light

AbstractA New Keynesian framework with endogenous energy production is proposed to investigate the role of monetary policy in addressing disturbances in energy markets. The novelty of the model lies in the endogenous production of energy with convex costs, explicit modeling of goods with different degrees of energy-dependency and sectoral price rigidities. Our analyses prescribe the desirable monetary responses to four types of energy price shocks, highlighting the distinct characteristics of each shock and affirming the need for diverse policy considerations. We also found several points of divergence in relation to previous studies on addressing energy supply shocks. In addition, we shed light on the role of sectoral price rigidities in the shocks’ propagation.

scholarly journals Fluctuations in the Swiss Franc: What Has Changed Since the Euro's Introduction?

2002 ◽  
Vol 22 (2) ◽  
pp. 143-159 ◽  
Author(s):  
Andreas M. Fischer
Keyword(s):  
Monetary Policy ◽  
Exchange Rate ◽  
Interest Rate ◽  
Open Economy ◽  
Small Open Economy ◽  
Swiss Franc ◽  
The Us ◽  
Us Dollar ◽  
The Interest Rate ◽  
Shed Light

The monetary implications arising from EMU for Swiss monetary policy show up primarily in the exchange rate. As of yet, fluctuations in the Swiss franc against the euro have been surprisingly moderate. The Swiss franc has thus tracked the euro's decline against the US dollar without experiencing strong inflationary pressures and a convergence in the interest-rate differential: a paradoxical result for a small open economy. This paper examines critically whether the recent record reveals information about a change in SNB monetary policy. It also attempts to shed light on the SNB's ability to implement an independent monetary policy with the new landscape defined by EMU. Four hypotheses of euro tracking are considered.

scholarly journals Non-scribal Communication Media in the Bronze Age Aegean and Surrounding Areas

2018 ◽  
Keyword(s):  
Comparative Study ◽  
Bronze Age ◽  
Communication Media ◽  
Economic Exchange ◽  
Exchange Networks ◽  
Surrounding Areas ◽  
The Comparative Study ◽  
The Bronze Age ◽  
Shed Light

This volume is intended to be the first in a series that will focus on the origin of script and the boundaries of non-scribal communication media in proto-literate and literate societies of the ancient Aegean. Over the last 30 years, the domain of scribes and bureaucrats has become much better known. Our goal now is to reach below the élite and scribal levels to interface with non-scribal operations conducted by people of the ‘middling’ sort. Who made these marks and to what purpose? Did they serve private or (semi-) official roles in Bronze Age Aegean society? The comparative study of such practices in the contemporary East (Cyprus, Anatolia, the Levant, and Egypt) can shed light on sub-elite activities in the Aegean and also provide evidence for cultural and economic exchange networks.

scholarly journals Egalitarian Justice and Innocent Choice

2017 ◽  
Vol 2 (1) ◽  
pp. 1-19 ◽  
Author(s):  
Nir Eyal
Keyword(s):  
Distributive Justice ◽  
Free Choice ◽  
Moral Luck ◽  
Luck Egalitarianism ◽  
Standard Formulation ◽  
Egalitarian Justice ◽  
Shed Light

In its standard formulation, luck-egalitarianism is false. Disadvantages that result from free choice to take a risk can constitute egalitarian injusticeóso long as that free choice is morally praiseworthy or at least neutral. A modified formulation of luck-egalitarianism avoids these problems. The formulation offered here focuses on the notion of innocence: lack of free and morally wrong choice to take a risk. Innocent disadvantage negates justice in both punitive and distributive contexts, suggesting that it may negate justice ìitself.î The modified formulation of luck-egalitarianism may thus shed light on distributive justice and perhaps on the essence of justice itself; applying it to the punitive context can also illuminate some of the discussion of moral luck.

THE IMPACT OF TRADE CONFLICT ON MONETARY POLICY IN TARGET ECONOMIES

2020 ◽  
pp. 1-24
Author(s):  
XIN-XIN ZHAO ◽  
JUN WEN ◽  
SUMILA WANAGURU ◽  
CHUN-PING CHANG
Keyword(s):  
Monetary Policy ◽  
Economic Analysis ◽  
Oecd Countries ◽  
Transition Countries ◽  
Domestic Economy ◽  
Monetary Policies ◽  
Policy Makers ◽  
The Impact ◽  
Shed Light

The nexus between trade conflict and monetary policy is of great importance in international political and economic analysis. By employing data from a panel of global countries covering the period 2000–2015, this paper empirically analyzes the impact of trade conflict on monetary policy and how it works. We document the evidence that trade conflict has caused targeted countries to implement loose monetary policy. We also find that the impact of trade conflict is not only effective in the current year, but also continues in the next five years. In addition, we show that the significant impact on monetary policy is manifested in non-OECD countries and transition countries but not in OECD countries and non-transition countries. Consequently, we believe our findings should shed light on those policy makers in target countries, who can hopefully prepare for potential trade conflict and avoid similar disputes from interfering with the effectiveness of monetary policies in the domestic economy by providing practical currency and valuation strategies.

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