Economics for Substantive Democracy

In this paper, I sustain that the discourse of economics has become one of the most substantial contributors to the erosion of the democratic ideal. The first argument used in this case against economics concerns its attempt to be considered a neo- naturalistic science; the second, the fact that economics considers democracy contradictory to the expression of its scientific rationality and; the third, the fact that economics crowds out people from decision-making processes by pushing them into the hands of experts. Because partisan political programmes have essentially become economic programmes, economics should contribute to substantive democracy. In order to do so, an alternative discourse to mainstream economics must be proposed. An economics favourable to substantive democracy should, thereby, be political rather than naturalistic, pluralist rather than monist and, instead of crowding out people from decisions processes, should aim at the co-production of economic knowledge with those concerned by the outcome of economic decisions.

Autenticidade, reconhecimento e dádiva - Para uma renovação dos direitos humanos

Esta investigação pretende articular a Teoria do Reconhecimento de Axel Honneth com a Ética da Autenticidade de Charles Taylor e complementar este diálogo com a Teoria da Dádiva, que tem vindo a ser desenvolvida por vários autores franceses e latino-americanos. A autenticidade foi, ao longo da história ocidental, considerada como sendo uma busca individual do eu, baseada numa racionalidade desvinculada, que não considerava os horizontes de sentido ou as relações com os outros significantes. Através da teoria de Taylor, essa perspetiva mudou: a autenticidade agora é descrita como um ideal moral dialógico, fundamentada no reconhecimento. Neste percurso do reconhecimento procuramos aprofundar não só a ideia de luta, mas também a relação de mutualidade da dádiva fundamentada no reconhecimento simbólico. Nesse sentido, o individualismo, neutralismo e a distinção entre esfera pública e privada, usados como critérios hermenêuticos para os Direitos Humanos, são substituídos pela autenticidade, reconhecimento e dádiva, num aprofundamento político-normativo de forma a contribuir para uma sociedade mais inclusiva e para a renovação ética dos Direitos Humanos; ABSTRACT: This research aims to articulate Axel Honneth’s Theory of Recognition with Charles Taylor’s Ethics of Authenticity, supplementing and weaving them with the Theory of Gift, which has been developed by several French and Latin-American authors. Authenticity has been considered, throughout western history, to be an individual search of the self, based on a detached rationality that did not take into consideration the horizons of meaning/sense or relations with the significant others. Along with Taylor’s theory, such perspective has changed: authenticity is now described as a dialogic moral ideal, grounded on recognition. In this route towards recognition we seek to deepen not only the idea of struggle, but also the mutual relation of gift grounded on symbolic recognition. In that sense, individualism, neutrality and distinction between public and private spheres, used as hermeneutic criteria for Human Rights, are replaced by authenticity, recognition and gifting, in a political-normative depth, in order to contribute to a more inclusive society and to an ethical renewal of Human Rights.

Are Decision Makers Rational in Ambiguous Situations?

This research work analyzes human behavior in complex situations and explains how decisions makers act in ambiguous situations. The objective of this research work is to study the sunk cost effect and the completion percentage effect of an investment project in a decision-making process. This research work uses a “retrospective rationality” approach to justify irrational behaviors such as the sunk cost effect, the completion percentage effect of an investment project and the irrational escalation since decision-makers are repeatedly affected by the decisions on past irreversible investments. This research work evaluates three sunk cost levels, and three completion percentage levels of an investment project, besides three neutral situations in a business environment and a personal decision situation. Graduate students in three Portuguese Management Schools responded to the questionnaires. Model results show that the value of resources invested is crucial for understanding the students’ rational behavior, who participated in this research work. These results disclose statistical evidence that the information on sunk costs and completion percentage of an investment project determines human behavior under irrational escalation in ambiguous situations. As a consequence, decision makers have the opportunity to interpret their decisions, since the scenarios do not allow a unique definition of rational choice, it is not correct to judge the irrational decision makers that decide to continue to invest in ambiguous situations. Keywords: Human Behavior, Sunk costs Effect, Completion Percentage Effect of an Investment Project, Irrational Escalation, Ambiguous Situations.