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This collection pays tribute to the highly influential work of Professor G.A. Cohen in the field of egalitarian political philosophy. He has a significant body of work spanning issues of Marxism and distributive justice, consistently characterized by original ideas and ingenious arguments. The volume includes essays on a number of significant topics, reflecting the wide-ranging themes of Professor Cohen’s work, but united in their concern for questions of social justice, pluralism, equality, and moral duty.

This book examines both the social and the political history of slavery. James Polk — President of the United States from 1845 to 1849 — owned a Mississippi cotton plantation with about fifty slaves. Drawing upon previously unexplored records, this book recreates the world of Polk's Mississippi plantation and the personal histories of his slaves, in what is arguably the most careful and vivid account to date of how slavery functioned on a single cotton plantation. Life at the Polk estate was brutal and often short. Fewer than one in two slave children lived to the age of fifteen, a child mortality rate even higher than that on the average plantation. A steady stream of slaves temporarily fled the plantation throughout Polk's tenure as absentee slavemaster. Yet Polk was in some respects an enlightened owner, instituting an unusual incentive plan for his slaves and granting extensive privileges to his most favored slave. By contrast with Senator John C. Calhoun, President Polk has been seen as a moderate Southern Democratic leader. But this book suggests that the president's political stance toward slavery — influenced as it was by his deep personal involvement in the plantation system — may actually have helped to precipitate the Civil War that Polk sought to avoid.

Using a case example of how Pennsylvania Blue Shield trained, hired, and retained several hundred welfare recipients on its work force, this book offers a success story and a broad discussion of welfare reform, public policy, and corporate social responsibility. It also offers a practical explanation of the specific steps needed to establish such a program, including corporate tax incentives, business and government collaborations, and the special needs of welfare recipients. The book demonstrates that it is possible for corporate America to combine bottom-line goals with socially responsible goals.

Clinical research requires that some people be used and possibly harmed for the benefit of others. What justifies such use of people? This book provides an in-depth philosophical analysis of several crucial issues in the ethics of clinical research. Much writing on the ethics of research with human subjects assumes that participation in research is a distinctive activity that requires distinctive moral principles. In most contexts, we allow people to choose the activities in which they engage. By contrast, people are permitted to participate in research only after IRBs determine that it is appropriate for them to do so. Although we assume that consent to participate in research must be preceded by an elaborate disclosure of information, we make no such assumption in many other areas of life. Although it is thought to be morally problematic to provide financial inducements to prospective subjects, we make no such assumptions when we hire people as loggers, fishermen, and fire fighters. Although we readily accept the “off-shoring” of manufacturing, many regard the off-shoring of medical research with great skepticism. This book seeks to widen the lens through which we consider such issues. When we do so, we will find that many standard principles of research ethics are difficult to defend.

The concept of practical reason is central to contemporary thought on ethics and the philosophy of law — acting well means acting for good reasons. Explaining this requires several stages. How do reasons relate to actions at all, as incentives and in explanations? What are values, how do they relate to human nature, and how do they enter practical reasoning? How do the concepts of ‘right and wrong’ fit in, and in what way do they involve questions of mutual trust among human beings? How does our moral freedom — our freedom to form our own moral commitments — relate to our responsibilities to each other? How is this final question transposed into law and legal commitments? This book explores these questions, vital to understanding the nature of law and morality. It presents an account of practical reason. It also offers a reinterpretation of Kant's views on moral autonomy and Adam Smith's on self-command, marrying Smith's ‘moral sentiments’ to Kant's ‘categorical imperative’.

Anjan Mukherji, arguably one of India's most distinguished economists, is known for his research on the stability of the Walrasian tatonnement, its relation to the weak axiom of revealed preference, the effect of choice of the numeraire and its relation to the Edgeworth-Uzawa barter process. Two of his recent papers, ‘Global Stability Conditions on the Plane: A General Law of Demand’ (2007) and ‘The Stability of a Competitive Economy: A Reconsideration’ (2008), have yielded especially interesting results. This book explores various aspects of economic theory and quantitative techniques as well as their applications and relevance to policymaking. Chapters deal with a wide range of topics such as Markovian equilibria in a dynamic general equilibrium model with heterogeneous consumers, monotone Markov models, multiple equilibria in a dynamic two-country model, observability of chaotic economic dynamics in the Matsuyama model, a simple exposition of learning by doing in endogenous growth theory, economic growth and the quality of teachers in a public education system, wealth effects, investment-led growth cycles, distraction and incentives, liquidity preference and information, coordination in teams, decomposition of accident loss and efficiency of negligence rule, international cartels and spheres of influence, price competition in a mixed duopoly, recommended play versus costly punishments in a laboratory public goods game, and India's monetary policy accommodation during the global crisis. It also examines private investment in human capital and industrial development, focusing on the Indian software industry, and arranged marriage, co-residence and female schooling in India.

Climate change, nuclear proliferation, and the threat of a global pandemic have the potential to impact each of our lives. Preventing these threats poses a serious global challenge, but ignoring them could have disastrous consequences. How do we engineer institutions to change incentives so that these global public goods are provided? This book provides an introduction to the issues surrounding the provision of global public goods. Using a variety of examples to illustrate past successes and failures, the book shows how international cooperation, institutional design, and the clever use of incentives can work together to ensure the effective delivery of global public goods.

The current financial crisis has caused many of us to question the motives and actions that drive the business world. Even the basic notion that firms should be run so as to maximize shareholder value has come under increasing scrutiny. Simply put, the failures of some of our nation's most venerable financial institutions have called into question the very premise of value-based management (VBM). Moreover, by being paid out at a time when rank-and-file employees, suppliers, and other corporate stakeholders are suffering, excessive CEO compensation has produced public outrage. This book provides an up-to-date look at value-based management and finds that the underlying concept is as sound today as ever. One finding, however, is that, as initially practiced, VBM was often short sighted and thus needs to evolve if it is to continue to flourish. In particular, this book promotes a marriage of traditional VBM with the growing trend toward corporate social responsibility (CSR), a combination termed value(s)-based management. The case is made that CSR is much more than a feel-good concept; rather, it can make good business sense if practiced in a strategic manner. Ultimately, the book concludes that evidence supports the finding that, by embracing a program of corporate social responsibility, a firm can make the pie bigger, thus providing a win-win situation in which both the shareholders and other stakeholders benefit.

Lawyers, judges, and scholars have long debated whether incentives in tort, contract, and restitution law effectively promote the welfare of society. If these incentives were ideal, tort law would reduce the cost and frequency of accidents, contract law would lubricate transactions, and restitution law would encourage people to benefit others. Unfortunately, the incentives in these laws lead to too many injuries, too little contractual cooperation, and too few unrequested benefits. This book explains how law might better serve the social good. In tort law, the book proposes that all foreseeable risks should be included when setting standards of care and awarding damages. Failure to do so causes accidents that better legal incentives would avoid. In contract law, the book shows that making a promise often causes the person who receives it to change behavior and undermine the cooperation between the parties. It recommends several solutions, including a novel contract called “anti-insurance.” In restitution law, people who convey unrequested benefits to others are seldom entitled to compensation. Restitution law should compensate them more than it currently does, so that they will provide more unrequested benefits. In these three areas of law, the book demonstrates that better law can promote the well-being of people by providing better incentives for the private regulation of conduct.