Classical pragmatism and modern finance

Article type: Research Article

Authors: Singer, Alan E.^{; *}

Affiliations: Walker College of Business, Appalachian State University, Boone, NC, USA

Correspondence: [*] Address for correspondence: Alan E. Singer, Walker College of Business, Appalachian State University, Boone, NC, USA. Tel.: +1 828 268 2183 or +1 828 262 2163; E-mail: singerae@appstate.edu.

Abstract: The re-evaluation of Classical American Pragmatism carries implications for the way that we might think about financial decision making, post-crisis. By examining the elements of pragmatism and by placing the latter relative to finance theory and forms of moral reasoning, guidelines for financial decision-making may be derived. These guidelines are inherently ethical in that they can be reasonably expected to result in good lives with others. It is further suggested that standard finance-theoretic models and methods can be adapted to fit within a pragmatic-ethical institutional ethos.

Keywords: Finance, ethics, pragmatism, guidelines

DOI: 10.3233/HSM-2009-0700

Journal: Human Systems Management, vol. 28, no. 3, pp. 83-92, 2009