Washington and an internship at the Division of International Finance of the Federal Reserve Board. The views and opinions expressed herein do not reflect those of the Board of Governors, the Federal Reserve System, or its staff. Responsibility for all remaining errors lies solely with the author.
Square [brackets] enclose editorial explanations. Small ·dots· enclose material that has been added, but can be read as though it were part of the original text. Occasional Ÿbullets, and also indenting of passages that are not quotations, are meant as aids to grasping the structure of a sentence or a thought. Pamphilus to Hermippus: It has been remarked… (More)
This paper studies trust and social capital through the writings of three eighteenth-century philosopher-economists-Hume, Smith, and Genovesi. It compares their accounts of the sense in which trust can be said to be rational, the conditions under which rational trust is possible, and the economic and social institutions which reproduce those conditions.… (More)
Introducing the project of an area of study called Neuroepistemology, I argue that perceptual learning-the presentation of an attended stimulus eliciting the register of a corresponding informational pattern in the brain-is supported by glutamatergic synaptic and post-synaptic structures receiving afferent signals from thalamic projections. Glutamate… (More)
Personal identity involves continuity of the inner or private self—the intimately familiar me—across time and place. Is this continuity experienced to a similar extent across cultures? East Asian cultures place greater moral emphasis than do Western cultures on the contextual adjustment of personal behavior. This adjustive focus translates into greater… (More)
The mutual dependence of men is so great in all societies that scarce any human action is entirely complete in itself, or is performed without some reference to the actions of others, which are requisite to make it answer fully the intention of the agent. I Some things we do by ourselves. I typically shave and brush my teeth without any contribution from… (More)
The differences between David Hume (1711–76) and James Steuart (1712–80) are more often stressed than the similarities. Hume is treated as a precursor of Adam Smith – the two were close friends, and both generally supported freedom of trade and freedom from burdensome regulation – while Steuart is seen as Smith's defeated opponent – he placed little trust… (More)
This expository note provides a critical review of the burgeoning literature on social capital and highlights a number of conceptual and empirical issues. First, the concept of social capital remains largely elusive, with many different ideas attached to it. This elusiveness has serious ramifications for empirical and policy analysis. Second, while the… (More)