Announcement of 5th International PPLE Workshop 2018, (Markets, Rules and Choice) which is a collaborative activity between IGIDR and University of Hamburg and Free University of Amsterdam.
Topics that will be discussed ranges from the foundational discussions about the role of the state to the specifics of recent proposals to reform financial markets.
The Workshop is scheduled at IGIDR,Mumbai from 9th July 2018 to 14th July 2018.
Markets, Rules and Choice
The summer school addresses the importance of norms and rules for understanding the functioning of markets and for the assessment of their regulation.Drawing on behavioural economics, political economy,decision theory,and ethics,a rich and interdisciplinary introduction to the theme will be offered.Topics that will be discussed range from the foundational discussions about the role of the state to the specifics of recent proposals to reform financial markets.
Experimenting with Rules:Equality,Solidarity and Markets
Prof.Shaun Hargreaves Heap,King’s College London
We know from many experiments that markets can ‘crowd out’ the motivational sources of social solidarity,but we also know that, in diverse populations, markets can encourage equal treatment of individuals that belong to different groups(i.e.non-discrimination). Does this mean that societies face a trade-off between social solidarity and non-discrimination (as the boundary of the market in society shifts)? Many philosophers believe that the roots of social solidarity are necessarily local, with consequent differences in treatment for those who are not local; and so they would not be surprised by this conclusion.Equally political scientists often find that there are ‘varieties of capitalism’ precisely because different countries are located on different points in such a trade-off. The experimental evidence on the connection between the institutions of markets and social/economic differentiation in society and the associated level of solidarity and degree of equality of treatment is,however,more complex.These lectures examine that complexity by considering,in turn,how 3 types of institution or rule appear in laboratories to influence our normative commitments.
Lecture 1 Membership rules: experimental evidence on discrimination, solidarity and diversity
Lecture 2 Distribution rules: experimental evidence on inequality, solidarity and discrimination
Lecture 3 Procedural rules: experimental evidence on markets, solidarity and equal treatment
Rationality, Freedom, and Welfare
Prof. M. Braham, University of Hamburg Prof. M. van Hees, VU University Amsterdam
The regulation of markets is often discussed in terms of a tension between individual freedom and economic welfare. In this class we will analyze these discussions from the perspective of a broadly Kantian paradigm in practical philosophy. This is a perspective that places the protection of the autonomy of the individual at the core of the evaluative and regulative exercise. We start with the outlines of a game-theoretic account of Immanuel Kant’s theory of action that allows us to make the distinction between instrumental and non-instrumental rationality more precise. We subsequently apply the framework to present the outlines of Kant’s ethics and give a decision-theoretic rendition of its central principle, the Categorical Imperative. The resulting model of the relation between individual freedom, moral duties and economic welfare is, in the final lecture, used to address questions about the legitimacy of market regulations
Lecture 1 Rational Choice: Two Perspectives
Lecture 2 Morality and Freedom
Lecture 3 Freedom, State, and Markets.
How to Govern Global Markets: The Evolution of Global Economic Governance
Peter Knaack, University of Oxford
Since the Second World War, states have experimented with a variety of cooperative measures to govern global markets, seeking to harness their benefits and to protect their citizens from negative externalities. This course will introduce students to the major global governance arrangements in trade and finance, their emergence, historical development and current state. We will discuss global trade governance from the WTO to mega-regional trade agreements, and global financial governance from the IMF and the World Bank to novel government networks in bank regulation and anti-money laundering. In addition, students will engage in in-depth research to assess a selection of global governance arrangements according to key quality indicators such as effectiveness, inclusiveness, and legitimacy.
Lecture 1 The Governance of Global Trade
Lecture 2 The Governance of Global Finance
Lecture 3 New Governance Designs: Transgovernmental Networks