2. Utilitarianism

2001 ◽  
Author(s):  
Will Kymlicka
Keyword(s):  
Utility Maximization ◽  
Equal Weight ◽  
Existence Of God ◽  
Human Welfare ◽  
Moral Rightness ◽  
Political Morality ◽  
Practical Implications ◽  
Equal Consideration

This chapter examines the practical implications of utilitarianism as a political morality. It first considers two features of utilitarianism that make it an attractive theory of political morality. First, the goal being promoted by utilitarians does not depend on the existence of God, or a soul, or any other dubious metaphysical entity. The second attraction is utilitarianism’s ‘consequentialism’. The chapter proceeds by breaking utilitarianism into two parts: an account of human welfare, or ‘utility’, and an instruction to maximize utility, giving equal weight to each person’s utility. It also discusses the two main arguments for viewing utility maximization as the standard of moral rightness: equal consideration of interests, and teleological utilitarianism. Finally, it evaluates utilitarians’ claim that every source of happiness, or every kind of preference, should be given the same weight, if it yields equal utility. The chapter argues that utilitarianism is inadequate as an account of equal consideration.

The Schumpeterian shock at General Motors in the 1920’s

2018 ◽  
Vol 7 (4) ◽  
pp. 320-335
Author(s):  
Seth W. Norton
Keyword(s):  
Automobile Industry ◽  
Information Economics ◽  
Marketing Channel ◽  
General Motors ◽  
Human Welfare ◽  
Content Type ◽  
Schumpeterian Economics ◽  
Role Of Information ◽  
Practical Implications

Purpose The purpose of this paper is to examine the link between Joseph Schumpeter’s economics and the rise of General Motors (GM). Design/methodology/approach The paper uses regression analysis and time series analysis of market synchronization. Findings There is a strong link between GM rise to dominance of the domestic automobile industry and nuanced features of Schumpeterian economics. Research limitations/implications The paper furthers the examination of the role of information economics on marketing channel performance. Practical implications Information helps in production decisions by synchronizing production with consumer demand. Social implications Economic efficiency enhances the human welfare for better forecasting, lower inventories and greater profits. Originality/value This topic has been explored before but methodology used in this paper is innovative. The paper uses Granger causality.

scholarly journals Can sector-specific REIT strategies outperform a diversified benchmark?

2017 ◽  
Vol 10 (3) ◽  
pp. 366-383 ◽  
Author(s):  
Alex Moss ◽  
Andrew Clare ◽  
Stephen Thomas ◽  
James Seaton
Keyword(s):  
Minimum Variance ◽  
Equal Weight ◽  
Content Type ◽  
Fund Managers ◽  
Property Type ◽  
Risk Parity ◽  
Efficient Portfolios ◽  
Market Capitalisation ◽  
Subsequent Addition ◽  
Practical Implications

Purpose The authors in this paper aim to investigate the performance of different portfolios of REITs which specialise by property type compared to the performance of a diversified free-float market capitalisation-weighted benchmark index to determine whether superior risk-adjusted returns can be achieved. Design/methodology/approach First, the authors examine the performance of portfolios constructed using the criteria of equal weight, minimum variance, maximum Sharpe and risk parity rather than free-float market capitalisation. Second, the authors apply an automated trading strategy of trend following to see if this filter will improve risk-adjusted returns. Findings The two-step process of forming combinations of REIT sectors with the subsequent addition of a trend following overlay can offer clear benefits relative to a passive benchmark investment. Research limitations/implications Although three of the four strategies were shown to outperform the benchmark index on a risk-adjusted basis, one issue was that the efficient portfolios tended to have large weightings to relatively few sectors. The authors also found that maximum drawdowns (losses) of the strategies tended to be rather high, as was the benchmark. Practical implications The methods outlined in this paper can be applied to construct superior risk-adjusted REIT portfolios globally. Originality/value Although studies have been undertaken separately on REIT specialisation and trend following in equity and commodity markets, this paper is the first to combine the two topics, and therefore has particular value for real estate fund managers globally.

scholarly journals Does Being Human Matter Morally? Five Correctives to the Speciesism Debate

2019 ◽  
Author(s):  
Jeroen Hopster
Keyword(s):  
Moral Status ◽  
Equal Weight ◽  
Moral Significance ◽  
Moral Relevance ◽  
Moral Treatment ◽  
Ethical Debate ◽  
Ethical Inquiry ◽  
New Directions ◽  
Species Membership ◽  
Equal Consideration

This article argues for five correctives to the current ethical debate about speciesism, and proposes normative, conceptual, methodological and experimental avenues to move this debate forward. Firstly, it clarifies the Principle of Equal Consideration of Interests and points out limitations of its scope. Secondly, it disambiguates between ‘favouritist’ and ‘species-relative’ views about moral treatment. Thirdly, it argues that not all moral intuitions about speciesism should be given equal weight. Fourthly, it emphasizes the importance of empirical research to corroborate statements about ‘folk speciesism’. Fifthly, it disambiguates between the moral significance of species and the moral status of their individual members. For each of these issues, it is shown that they have either been overlooked, or been given inapt treatment, in recent contributions to the debate. Building on the correctives, new directions are proposed for ethical inquiry into the moral relevance of species and species membership.

Effects of compression during formation on the microstructure of composite hydroxylapatite/plaster implants for bone reconstruction

1988 ◽  
Vol 46 ◽  
pp. 750-751
Author(s):  
J. Hanker ◽  
K. Cowden ◽  
R. Noecker ◽  
P. Yates ◽  
N. Georgiade ◽  
...  
Keyword(s):  
Cosmetic Surgery ◽  
Glass Plate ◽  
Surgical Reconstruction ◽  
Equal Weight ◽  
Sintered Ceramic ◽  
Setting Times ◽  
Excess Water ◽  
Mixture Prior ◽  
Mechanical Strengths ◽  
Calcium Sulfate Hemihydrate

Composites of plaster of Paris (PP) and hydroxylapatite (HA) particles are being applied for the surgical reconstruction of craniofacial bone defects and for cosmetic surgery. Two types of HA particles are being employed, the dense sintered ceramic (DHA) and the porous, coralline hydroxylapatite (PHA) particles. Excess water is expressed out of the moistened HA/PP mixture prior to implantation and setting by pressing it in a non-tapered syringe against a glass plate. This results in implants with faster setting times and greater mechanical strengths. It was therefore of interest to compare samples of the compressed versus noncompressed mixtures to see whether or not any changes in their microstructure after setting could be related to these different properties.USG Medical Grade Calcium Sulfate Hemihydrate (which has the lowest mortar consistency of any known plaster) was mixed with an equal weight of Interpore 200 particles (a commercial form of PHA). After moistening with a minimum amount of water, disc-shaped noncompressed samples were made by filling small holes (0.339 in. diameter x 0.053 in. deep) in polypropylene molds with a microspatula.

The Differential Effectiveness of the Cognitive Interview Instructions for Enhancing Witnesses’ Memory of a Familiar Event

2014 ◽  
Vol 73 (1) ◽  
pp. 25-34 ◽  
Author(s):  
Magali Ginet ◽  
Jacques Py ◽  
Cindy Colomb
Keyword(s):  
Cognitive Interview ◽  
Critical Event ◽  
Surgical Operation ◽  
Differential Effectiveness ◽  
Correct Information ◽  
Control Instruction ◽  
The Individual ◽  
Practical Implications

This study examines the influence of familiarity on witnesses’ memory and the individual effectiveness of each of the four cognitive interview instructions in improving witnesses’ recall of scripted events. Participants (N = 195), either familiar or unfamiliar with the hospital script, were presented with a video of a surgical operation. One week later, an interviewer used one of the four cognitive interview instructions or a control instruction to ask them about the video. Participants familiar with the surgery context recalled significantly more correct information and, in particular, more consistent and irrelevant details than those unfamiliar with the surgery context. Furthermore, the results confirmed the effectiveness of all four cognitive interview mnemonics in enhancing the amount of correct information reported, irrespective of the participants’ familiarity with the critical event. However, their efficacy differed depending on the category of details considered. The practical implications of these results are discussed.

How Do People Share Their Positive Events?

2016 ◽  
Vol 37 (4) ◽  
pp. 250-259 ◽  
Author(s):  
Cara A. Palmer ◽  
Meagan A. Ramsey ◽  
Jennifer N. Morey ◽  
Amy L. Gentzler
Keyword(s):  
Cluster Analysis ◽  
Communication Technology ◽  
Big Five ◽  
Well Being ◽  
Big Five Personality Traits ◽  
Big Five Personality ◽  
Positive Events ◽  
Growing Body ◽  
Sharing Patterns ◽  
Practical Implications

Abstract. Research suggests that sharing positive events with others is beneficial for well-being, yet little is known about how positive events are shared with others and who is most likely to share their positive events. The current study expanded on previous research by investigating how positive events are shared and individual differences in how people share these events. Participants (N = 251) reported on their likelihood to share positive events in three ways: capitalizing (sharing with close others), bragging (sharing with someone who may become jealous or upset), and mass-sharing (sharing with many people at once using communication technology) across a range of positive scenarios. Using cluster analysis, five meaningful profiles of sharing patterns emerged. These profiles were associated with gender, Big Five personality traits, narcissism, and empathy. Individuals who tended to brag when they shared their positive events were more likely to be men, reported less agreeableness, less conscientiousness, and less empathy, whereas those who tended to brag and mass-share reported the highest levels of narcissism. These results have important theoretical and practical implications for the growing body of research on sharing positive events.

Cross-Lagged Relationships Between Self-Esteem, Self-Construal, and Happiness in a Three-Wave Longitudinal Study

2019 ◽  
Vol 40 (3) ◽  
pp. 177-185
Author(s):  
Daniela Moza ◽  
Laurențiu Maricuțoiu ◽  
Alin Gavreliuc
Keyword(s):  
Structural Equation ◽  
Time Lag ◽  
Self Esteem ◽  
Equation Modeling ◽  
Future Research ◽  
Cross Sectional ◽  
Self Construal ◽  
Self Worth ◽  
Practical Implications ◽  
Independent Person

Abstract. Previous research established that an independent construal of the self is associated with higher self-esteem, which, in turn, is associated with increased happiness. Regarding the directionality of these relationships, theoretical arguments have suggested that self-construal precedes self-esteem and that self-esteem precedes happiness. However, most research in this area is cross-sectional, thus limiting any conclusions about directionality. The present study tested these relationships in 101 Romanian undergraduates using a 3-wave cross-lagged design with a 6-month time lag between every two waves. Structural equation modeling analyses revealed that self-esteem is an antecedent of both happiness and dimensions of independent self-construal (i.e., consistency vs. variability and self-expression vs. harmony). In other words, one’s positive evaluation of self-worth precedes one’s self-perception as being a happy and independent person. The findings are discussed with respect to the theoretical and practical implications, along with limitations and suggestions for future research.

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