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Ethical Economy. Studies in Economic Ethics and Philosophy Ethical Economy. Studies in Economic Ethics and Philosophy Volume 54 Series Editors Alexander Brink, University of Bayreuth Jacob Dahl Rendtorff, Roskilde University Founding Editor Peter Koslowski†, VU University Amsterdam, Amsterdam Editorial Board John Boatright, Loyola University Chicago, Illinois, USA George Brenkert, Georgetown University, Washington D.C., USA James M. Buchanan†, George Mason University, Fairfax, Virginia, USA Allan K.K. Chan, Hong Kong Baptist University, Hong Kong Christopher Cowton, University of Huddersfield Business School, Huddersfield, United Kingdom Richard T. DeGeorge, University of Kansas, Lawrence, Kansas, USA Thomas Donaldson, Wharton School, University of Pennsylvania, Philadelphia, USA Jon Elster, Columbia University, New York, USA Amitai Etzioni, George Washington University, Washington D.C., USA Michaela Haase, Free University Berlin, Germany Carlos Hoevel, Catholic University of Argentina, Buenos Aires, Argentina Ingo Pies, University of Halle-Wittenberg, Halle, Germany Yuichi Shionoya, Hitotsubashi University, Kunitachi, Tokyo, Japan Philippe Van Parijs, University of Louvain, Louvain-la-Neuve, Belgium Deon Rossouw, University of Pretoria, Pretoria, South Africa Josef Wieland, Zeppelin University, Friedrichshafen, Germany Ethical Economy describes the theory of the ethical preconditions of the economy and of business as well as the theory of the ethical foundations of economic systems. It analyzes the impact of rules, virtues, and goods or values on economic action and management. Ethical Economy understands ethics as a means to increase trust and to reduce transaction costs. It forms a foundational theory for business ethics and business culture. The Series Ethical Economy. Studies in Economic Ethics and Philosophy is devoted to the investigation of interdisciplinary issues concerning economics, management, ethics, and philosophy. These issues fall in the categories of economic ethics, business ethics, management theory, economic culture, and economic philosophy, the latter including the epistemology and ontology of economics. Economic culture comprises cultural and hermeneutic studies of the economy. One goal of the series is to extend the discussion of the philosophical, ethical, and cultural foundations of economics and economic systems. The series is intended to serve as an international forum for scholarly publications, such as monographs, conference proceedings, and collections of essays. Primary emphasis is placed on originality, clarity, and interdisciplinary synthesis of elements from economics, management theory, ethics, and philosophy. More information about this series at http://www.springer.com/series/2881 Jakob Bek-Thomsen • Christian Olaf Christiansen Stefan Gaarsmand Jacobsen • Mikkel Thorup Editors History of Economic Rationalities Economic Reasoning as Knowledge and Practice Authority This book and the research of its editors was first and foremost made possible through the generous funding of Velux Fonden. Furthermore, The Danish Council for Independent Research supported the editing of the book in its final stages. Editors Jakob Bek-Thomsen Christian Olaf Christiansen Institute for Culture and Society Institute for Culture and Society Aarhus University Aarhus University Aarhus, Denmark Aarhus, Denmark Stefan Gaarsmand Jacobsen Mikkel Thorup Department of Management, Politics and Institute for Culture and Society Philosophy Aarhus University Copenhagen Business School Aarhus, Denmark Frederiksberg, Denmark ISSN 2211-2707 ISSN 2211-2723 (electronic) Ethical Economy ISBN 978-3-319-52814-4 ISBN 978-3-319-52815-1 (eBook) DOI 10.1007/978-3-319-52815-1 Library of Congress Control Number: 2017934076 © Springer International Publishing AG 2017 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Printed on acid-free paper This Springer imprint is published by Springer Nature The registered company is Springer International Publishing AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland Contents 1 Introduction.............................................................................................. 1 Jakob Bek-Thomsen, Christian Olaf Christiansen, Stefan Gaarsmand Jacobsen, and Mikkel Thorup 2 From “Permutation of Commodities” to the Praise of “Doux Commerce.” Changes in Economic Rationality in Early Modern Times............................................................................ 13 Catherine Secretan 3 “The Nutrition of a Commonwealth:” On Hobbes’s Economic Thought................................................................................... 21 Laurens van Apeldoorn 4 Circulation of Blood and Money in Leviathan – Hobbes on the Economy of the Body................................................................... 31 Christoffer Basse Eriksen 5 Profits and Morals in Leon Battista Alberti’s I libri della famiglia.................................................................................. 43 Jakob Bek-Thomsen 6 The Meanings of Work in John Locke................................................... 51 Campbell Jones 7 Financial Reasoning in The Midst of Revolution and Wars: Merchants and Bankers Between Paris, London, and Amsterdam, 1789–1810.................................................... 63 Niccolò Valmori 8 Prose Genre and the Emergence of Modern Economic Reasoning in Eighteenth-Century Britain............................................. 73 Jill Marie Bradbury v vi Contents 9 Political Economy and Its Public Contenders 1820–1850.................... 81 Stefan Gaarsmand Jacobsen and Thomas Palmelund Johansen 10 The Promissory Self – Credit and Debt Rationalities in the Work and Life of Karl Marx........................................................ 95 Mikkel Thorup 11 Democratic Governance: A Genealogy.................................................. 103 Mark Bevir 12 The Economic De-Legitimization and Legitimization of Arts Policies 1970–1985....................................................................... 113 Erwin Dekker 13 From “Health for All” to “Health as Investment:” The Role of Economic Rationalities in the Transition from International to Global Health 1978–2013................................... 121 Katherine E. Kenny 14 The Economic Rationality of “Doing Good to Do Well” and Three Critiques, 1990 to the Present.............................................. 133 Christian Olaf Christiansen About the Authors Jakob Bek-Thomsen is assistant professor at Aarhus University, Institute for Culture and Society. He has worked with both the history of medicine and economic thinking during the Renaissance with a particular attention as to how humanist movements and ideas influenced and informed other areas of knowledge. His cur- rent research is connected with modern medicine and its understanding of death in connection with terminal illness. Mark Bevir is a professor in the Department of Political Science, University of California, Berkeley. He is the author or co-author of The Logic of the History of Ideas (1999), Interpreting British Governance (2003), New Labour: A Critique (2005), Governance Stories (2006), Key Concepts of Governance (2009), The State as Cultural Practice (2010), Democratic Governance (2010), The Making of British Socialism (2011), Governance: A Very Short Introduction (2012) and A Theory of Governance (2013). Jill Marie Bradbury is a professor in the Department of English at Gallaudet University. She became interested in the history of economic thought while double majoring in economics and English as an undergraduate. Since receiving her PhD at Brown University, she has published several essays on eighteenth-century economic discourse, including ‘Interest and Anglo-Irish Political Discourses in the 1720–1721 Bank Pamphlet Literature’ in Eighteenth-Century Ireland and ‘Domestic, Moral, and Political Economies in Swift’s Irish Writings’ in Anglo-Irish Identities, 1571– 1845, which she also coedited. She is currently working on a book titled British Economic Discourses, 1650–1750, and her master’s degree in economics at George Mason University. Christian Olaf Christiansen is associate professor at Aarhus University, Institute for Culture and Society. Christian is an intellectual historian working with twentieth-­ century economic and political thought in an American and global context. His current research is a comparative intellectual history
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