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- The Cambridge economic tradition and the distribution of the social surplusPublication . Martins, Nuno OrnelasVarious research projects in economics developed at Cambridge share common philosophical presuppositions, within what can be termed as the Cambridge economic tradition. I argue here that the Cambridge economic tradition can be distinguished from other traditions in terms of its underlying ontology, methodology and ethics, and also in terms of the way in which those philosophical presuppositions are expressed in competing theoretical approaches to the distribution of the social surplus. I also distinguish between an economic tradition and a school of economics and note that various schools have existed within the Cambridge economic tradition. The various Cambridge schools can themselves be identified in terms of the specific analytical frameworks they adopted when addressing the distribution of the social surplus.
- Reconsidering the notions of process, order and stability in VeblenPublication . Martins, Nuno OrnelasTony Lawson has recently provided an original assessment of the notions of process, order and stability in the writings of Thorstein Veblen, in which he attributes to Veblen an ideational conception of order, while also arguing that Veblen changed his views on the causes of stability, which in earlier writings were attributed to institutions and the ceremonial aspects of life, and in later writings are to be found in human nature. In so doing, Lawson moves away from previous interpretations of Veblen, including Lawson’s own in some respects, especially on the nature of institutions. Here I further extend Lawson’s new interpretation of Veblen in some respects, while challenging some aspects of it. In particular, I discuss whether Veblen really changed his view on the causes of stability, while proposing a generalisation of the Veblenian dichotomy.
- Some further considerations on the Sraffian MethodenstreitPublication . Martins, Nuno Ornelas
- Democracia e racionalidadePublication . Martins, Nuno
- Human development: which way now?Publication . Martins, Nuno OrnelasThe capability approach to human development, which has been very influential within the United Nations Development Programme, has been instrumental in bringing out an emphasis on final goals of development connected to the expansion of human freedom. Because these final goals are also seen as means for further development, there is a tendency to neglect other means of development, such as changes in the productive structure and in the distribution of power within the relations of production. Here I assess the intellectual origins of the capability approach to human development, and its influence on development discourse. I argue that it is important to bring back to development discourse, and to the capability approach to human development in particular, a concern with productive structures that characterised earlier approaches to development centred on industrialisation. This requires a greater focus on how power relationships in productive systems influence human capabilities.
- The economics of biodiversity: accounting for human impact in the biospherePublication . Martins, Nuno OrnelasThis article provides an analysis of The Economics of Biodiversity: The Dasgupta Review. The review places the study of biodiversity at the core of economics, by providing a conception that takes into account human impact in the biosphere, and planetary boundaries. This leads to a theoretical model where the human economy is bounded. Within this conception, Nature is valued as an asset, in a context where a social evaluator, or citizen investor, takes into account intergenerational wellbeing. This article discusses the methodology through which human impact in the biosphere is accounted for in the theoretical framework proposed in the review, while scrutinising the method for valuing biodiversity proposed in the review.
- Adam Smith and Catholic Social TeachingPublication . Martins, Nuno OrnelasThe connections between Adam Smith and Catholic Social Teaching (CST) raise several questions. The principle of subsidiarity adopted in CST, according to which higher associations should not replace subordinate organizations on what the latter can do, seems to be in line with the idea that governmental intervention in the market sphere should be restricted to the minimum required, in line with what is typically seen as Smith’s view. But the principle of the common good would also recommend intervention from political authorities in order to ensure that the common good is achieved. Here I shall argue that this question must be addressed taking into account another principle of CST, the principle of solidarity, and also the basic principle of CST, regarding human dignity. To do so, it is necessary to understand how the various principles of CST spring from the notion of imago Dei in CST, which is behind the notion of human dignity. This leads to a relational conception of human beings which can be fruitfully articulated with Smith’s moral philosophy and political economy.