The Erroneous Foundations of Law and Economics

The fundamental originating principle of law and economics (L&E) is that legal decisions should be (and are) based on maximizing efficiency. But L&E proponents do not define “efficiency” in the way agreed to by most economists, as Pareto Efficiency. A Pareto optimal condition is obtained when no one can be made better off without making someone worse off. Pareto Improvements are win-win changes where no losers exist. In the judicial system, however, there are always winners and losers, because under Article III § 2 of the Constitution a legal case does not exist unless there is a justiciable “case or controversy” in need of resolution. Unable to use Pareto Efficiency, L&E scholars have been forced to adopt alternative definitions of efficiency. Most L&E scholars claim to define “efficiency” based on the work of Kaldor and Hicks, but (perhaps unwittingly) instead use a definition of “efficiency” derived from the 19th century idea of consumer surplus, which encompasses L&E notions such as “wealth maximization,” and “consumer welfare” in antitrust. Neither of these alternative definitions is viable, however. Outside of L&E, the Kaldor-Hicks approach has long been recognized to be riddled with logical inconsistencies and ethical failures, and the surplus approach is even more deficient. Remarkably, virtually none of the numerous L&E textbooks even hint at such problems. Critically, all definitions of efficiency improvements in economics are biased in favor of wealthy individuals or firms, either because they are dependent on the status quo ante distribution of assets, or because they bestow large advantages on parties with political influence or who can afford to bring lawsuits quickly. Many L&E practitioners treat efficiency improvements instead as being objectively good, an error revealing that L&E is primarily motivated by its neoliberal policy agenda.

Surgeon, Media, Society, Patient

For many, cosmetic surgery holds the promise that one can reshape his or her body to remove perceived defects and thus have a more perfect body. However, the decision to undergo elective cosmetic surgery is not made in a vacuum, and it is easy to overlook the full range of ethical considerations surrounding cosmetic surgery. Many medical ethicists subscribe to an ethical code that centers mainly on the relationship between the doctor and patient, with a focus on respect for autonomy, nonmaleficence, beneficence, and justice. This chapter builds on this framework by extending the scope of actors to include not only the surgeon and the patient but also the media and the overall society. To illustrate this framework, the author uses the example of actress Heidi Montag, who underwent 10 different plastic surgery procedures in one day. The chapter concludes with a discussion of potential correctives for ethical failures in each of these areas.

Relational Dependence in a Culture of Self-Creation: A Theological Query into the Health of the Medical World

Half of the medical professionals in the United States are experiencing symptoms of burnout. From the perspective of theological anthropology, this dehumanizing aspect of the field is not reducible to ethical failures, for it is rooted in the radically new worldview known as self-creation. As an implicit denial of Christian understanding of creation, self-creation entails a rejection of relationality and dependence—both proper to the Revelation of Jesus Christ. This article proposes that this lost Christian patrimony is intimately connected to the increasingly unhealthy dependence we place upon modern medicine. Relying on theologian Joseph Ratzinger, we will come to see that a recovery of relational dependence is not only necessary for the salvation of man—but the very health of the medical world at large.

ACCOUNTING ETHICS EDUCATION: WHAT AND HOW TO TEACH?

For academics, accounting ethics education is a challenging field, not only because of the common perception that it is considered secondary to accounting technical courses, but also due to inconclusive results of its effectiveness on ethical behavior as well as uncertainty of what and how to teach. However, the recurring occurrence of accounting scandals as well support from accounting professional bodies on the importance of ethics in accounting curriculum, has contributed to the increasing attention given to accounting ethics. This paper tries to contribute to the growing accounting ethics literatures by reviewing the contents and learning methods. Eleven topic categories are suggested, along with fifteen learning methods which are inventoried from a number of literatures. Academics should try to discover interesting and unconventional methods to teaching ethics, to equip the traditional methods of teaching. It should be noted however, that the effectiveness of accounting ethics education does not rely only on having proper teaching materials and methods, but also on the institutional support and the learners’ commitment. Finally, three areas are identified to improve accounting ethics education, i.e. to develop a more principles-based approach, to shift the focus of ethics education to prevent ethical failures, as well as to take on a greater role of business ethics in general, including accounting ethics, to the society as a whole. Knowing the what and how aspects is expected to be a start in improving and fostering accounting ethics education.Keywords: accounting ethics education; teaching materials; teaching methods