Utilitarians

205 quotes found

"Close on a century after the event, this interpretative error re-evokes the error Marshall made in relation to the theory of Ricardo, and of the classical economists in general. Marshall, as we well know, held that they were aware of only one of the two blades of the scissors determining price –the supply side, but not the demand side. In this case, too, classical analysis was rendered comparable to the analysis in terms of demand and supply equilibrium by introducing the assumption of constant returns. Such an assumption, however, cannot be held to represent a general constitutive element of classical analysis: classical economists had quite different ideas on returns to scale, and moreover conceived them in the context of a dynamic analysis. Let us recall, for example, Smith’s ideas about the relationship connecting division of labour (and hence productivity) to the size of the market, or the role played by decreasing returns in agriculture in the analyses of Malthus, West, Torrens, Ricardo and a host of others. Sraffa, who in his critical edition of Ricardo’s Works and Correspondence had, among other things, also disputed Marshall’s interpretation, foresaw quite clearly that the same error would once again crop up in connection with his own analysis. Indeed, he appeared ready to accept the inevitable, though up to a point."

- David Ricardo

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"Adam Smith had a powerful influence on the history of ideas, ideas of the educated non-economist public and most particularly of governmental policy-makers and their voter constituencies. David Ricardo’s great influence was more narrowly focused on contemporaneous and subsequent economists. Macaulay’s general schoolboy knew The Wealth of Nations but not Ricardo’s Principles of Political Economy. So to speak, Smith paid for his popularity with the lay public by being regarded among professional economists as ‘old hat’ and a bit prosaically eclectic. Ricardo, by contrast, wrote so badly as to provide that quantum of obscurity sufficient to evoke academic attention and overestimation. Karl Marx, it may be said, shared in the Ricardian tradition in more ways than is conventionally recognized. As I reflect back upon what seems to have been a systematic undervaluation of Adam Smith in professional circles of six decades ago, I discern that a major responsibility for this lies with two scholars. It was David Ricardo himself who believed that Adam Smith’s basic system was flawed at its core. Indeed, it was this critical view of Smith that caused Ricardo to write his Principles. The economists’ world, blinded by Ricardo’s reputation for brilliance and unable to recognize in his murky exposition the many non sequiturs contained there, accepted Ricardo’s indictment at its face value. The second authority influential in playing down Smith’s worth was my old master, Joseph Schumpeter. Long before the Harvard days of his greatest reputation, the young Schumpeter’s brilliant German work, Economic Doctrine and Method (1914), had patronized Smith with faint praise. Never did Schumpeter really alter this evaluation, as his posthumous classic of 1954 makes clear. Schumpeter seems to put ahead of Smith as a theorist such predecessors as Cantillon, Hume and Turgot; and subsequent to him, Schumpeter would surely have regarded as Smith’s superiors such diverse scholars as A.A.Cournot, Léon Walras, and (I vaguely remember from Schumpeter’s 1935 Harvard lectures) Alfred Marshall. Whereas Ricardo regarded Smith as having defected from a proper labour theory of value, in Schumpeter’s eyes Smith’s crime was that of mediocrity, lack of originality, and excessive imitativeness. (When my colleague Robert L.Bishop prepared a definitive debunking of Ricardo’s critique of Smith, he informed me that Schumpeter paradoxically proved to be one of the few scholars who correctly recognized Ricardo’s lack of cogency and who defended Smith for his full due.)"

- David Ricardo

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"Nature documentaries are mostly travesties of real life. They entertain and edify us with evocative mood-music and travelogue-style voice-overs. They impose significance and narrative structure on life's messiness. Wildlife shows have their sad moments, for sure. Yet suffering never lasts very long. It is always offset by homely platitudes about the balance of Nature, the good of the herd, and a sort of poor-man's secular theodicy on behalf of Mother Nature which reassures us that it's not so bad after all. That's a convenient lie. If you had just gone through the horror of seeing your loved one eaten alive by a predator, or die slowly of thirst, you would find such clichés empty. Yet in Nature this kind of thing happens all the time. It's completely endemic to the prevailing red-in-tooth-and-claw Darwinian regime. Lions kill their targets primarily by suffocation; which will last minutes. The wolf pack may start eating their prey while the victim is still conscious, though hamstrung. Sharks and the orca basically eat their prey alive; but in sections for the larger prey, notably seals. An analogous scenario in which intelligent extraterrestrial naturalists turned the stylised portrayal of our death-agonies into a lyrical spectacle for popular home entertainment is repugnant. Yet as long as we revel in the production of animal snuff-movies in the guise of wildlife documentaries, that is often the role we play in the tragic lives of photogenic members of other species here on earth."

- David Pearce (philosopher)

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"I argue that what breathes fire into the QM equations is field-theoretic what-it's-likeness: "microqualia" to use a philosopher's term of art. The different values of the solutions to the ultimate physical equations exhaustively yield the abundance of different values of subjectivity. There is no room for dualism; "nomological danglers"; causally inert epiphenomena; classical, porridge-like lumps of otherwise insentient but magically mind-secreting matter, etc. There is no "explanatory gap" because there aren't any material objects - not even brains or nerve cells as commonly (mis)perceived. Instead, over millions of years, non-equilibrium thermodynamics and universal, (neo-)Darwinian principles of natural selection have contrived to organise a minimal and self-intimating subjective sludge of microqualia into complex functional living units. Initially, these units have taken the form of self-replicating, information-bearing biomolecular patterns. Eventually, selection-pressure has given rise to complex minds as well, albeit as just one part of the throwaway host vehicles by which our genes leave copies of themselves. Conscious mind, on this proposal, is a triumph of organisation: our egocentric virtual worlds are warm and gappy QM-coherent states of consciousness. Contra materialist metaphysics, sentience of any kind is not the daily re-enactment of an ontological miracle. Moreover the idea that what-it's-like-ness is the fire in the equations is (at least) consistent with orthodox relativistic quantum field theory - because the theorists' key notions (e.g. that of a field, string, brane, etc) are defined purely mathematically. In other cases, they readily lend themselves to such a reconstruction. Using the word "physical" doesn't add anything of substance."

- David Pearce (philosopher)

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"All that matters is the pleasure-pain axis. Pain and pleasure disclose the world's inbuilt metric of (dis)value. Our overriding ethical obligation is to minimise suffering. After we have reprogrammed the biosphere to wipe out experience below "hedonic zero", we should build a "triple S" civilisation based on gradients of superhuman bliss. The nature of ultimate reality baffles me. But intelligent moral agents will need to understand the multiverse if we are to grasp the nature and scope of our wider cosmological responsibilities. My working assumption is non-materialist physicalism. Formally, the world is completely described by the equation(s) of physics, presumably a relativistic analogue of the universal Schrödinger equation. Tentatively, I'm a wavefunction monist who believes we are patterns of qualia in a high-dimensional complex Hilbert space. Experience discloses the intrinsic nature of the physical: the "fire" in the equations. The solutions to the equations of QFT or its generalisation yield the values of qualia. What makes biological minds distinctive, in my view, isn't subjective experience per se, but rather non-psychotic binding. Phenomenal binding is what consciousness is evolutionarily "for". Without the superposition principle of QM, our minds wouldn't be able to simulate fitness-relevant patterns in the local environment. When awake, we are quantum minds running subjectively classical world-simulations. I am an inferential realist about perception. Metaphysically, I explore a zero ontology [...] the total information content of reality must be zero on pain of a miraculous creation of information ex nihilo. Epistemologically, I incline to a radical scepticism that would be sterile to articulate. Alas, the history of philosophy twinned with the principle of mediocrity suggests I burble as much nonsense as everyone else."

- David Pearce (philosopher)

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