Political Institutions and Practical Wisdom

Author(s):  
Maxwell A. Cameron

To be good citizens or statespersons, we need practical wisdom—the moral skill and will to know how to do the right thing in particular situations. Institutions work best when they cultivate practitioners who have the wisdom and judgment to choose the right aims and pursue them in the best way possible. Practical wisdom can be destroyed, however, when institutions rely too heavily on rules and incentives that encourage people to compete for extrinsic rewards or to avoid punishments. This book focuses on the ethical implications of institutional failures and identifies competitive utility-maximizing as a frequent source of such failures. Practical wisdom is often squeezed out of institutions by the market forces unleashed by neoliberalism. In the political sphere, hyper-partisanship is an expression of excessive competition, and it can undermine the deliberation necessary for a healthy democracy. There is, however, an alternative. A citizens’ democracy would aim at human flourishing. This book calls on social scientists to recognize the ethical foundation of our work, integrate the moral dimension of politics in our analyses, and accord greater attention to first-person perspectives in our ontologies. The cultivation of practical wisdom in politics, work, and everyday life is our best response to the pressures arising from market forces that threaten to destroy institutions and drive human activities toward catastrophic outcomes.

1989 ◽  
Vol 43 (2) ◽  
pp. 35-40 ◽  
Author(s):  
Thomas Doherty

CFA Magazine ◽  
2010 ◽  
Vol 21 (5) ◽  
pp. 13-14
Author(s):  
Crystal Detamore
Keyword(s):  

2021 ◽  
pp. 194016122110226
Author(s):  
Ayala Panievsky

As populist campaigns against the media become increasingly common around the world, it is ever more urgent to explore how journalists adopt and respond to them. Which strategies have journalists developed to maintain the public's trust, and what may be the implications for democracy? These questions are addressed using a thematic analysis of forty-five semistructured interviews with leading Israeli journalists who have been publicly targeted by Israel's Prime Minister, Benjamin Netanyahu. The article suggests that while most interviewees asserted that adherence to objective reporting was the best response to antimedia populism, many of them have in fact applied a “strategic bias” to their reporting, intentionally leaning to the Right in an attempt to refute the accusations of media bias to the Left. This strategy was shaped by interviewees' perceived helplessness versus Israel's Prime Minister and his extensive use of social media, a phenomenon called here “the influence of presumed media impotence.” Finally, this article points at the potential ramifications of strategic bias for journalism and democracy. Drawing on Hallin's Spheres theory, it claims that the strategic bias might advance Right-wing populism at present, while also narrowing the sphere of legitimate controversy—thus further restricting press freedom—in the future.


Author(s):  
Curtis L. Wesley ◽  
Gregory W. Martin ◽  
Darryl B. Rice ◽  
Connor J. Lubojacky

1990 ◽  
Vol 16 (3) ◽  
pp. 327-380
Author(s):  
David A. Hyman

Tax exemption is an ancient, honorable and expensive tradition. Tax exemption for hospitals is all of these three, but it also places in sharp focus a fundamental problem with tax exemption in general. Organizations can retain their tax exemption while changing circumstances or expectations undermine the rationale that led to the exemption in the first place. Hospitals are perhaps the best example of this problem. The dramatic changes in the health care environment have eliminated most of the characteristics of a hospital that originally persuaded the citizenry to grant it an exemption. Hospitals have entered into competition with tax-paying businesses, and have increasingly behaved like competitive actors. Such conduct may well be beneficial, but it does not follow that tax exemption is appropriate. Rather than an undifferentiated subsidy, a shift to focused goals will provide charitable hospitals with the opportunity and incentive to “do the right thing.”


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