Michael Davis

All of finance is now automated, most notably high frequency trading. This paper examines the ethical implications of this fact. As automation is an interdisciplinary endeavor, we argue that the interfaces between the respective disciplines can lead to conflicting ethical perspectives; we also argue that existing disciplinary standards do not pay enough attention to the ethical problems automation generates. Conflicting perspectives undermine the protection those who rely on trading should have. Ethics in finance can be expanded to include organizational and industry-wide responsibilities to external market participants and society. As a starting point, quality management techniques can provide a foundation for a new cross-disciplinary ethical standard in the age of automation

Under a grant from the National Science Foundation, the authors (and others) undertook to integrate ethics into graduate engineering classes at three universities—and to assess success in a way allowing comparison across classes (and institutions). This paper describes the attempt to carry out that assessment. Standard methods of assessment turned out to demand too much class time. Under pressure from instructors, the authors developed an alternative method that is both specific in content to individual classes and allows comparison across classes. Results are statistically significant for ethical sensitivity and knowledge. They show measurable improvement in a single semester.

This article evaluates a family of criticism of how engineering ethics is now generally taught. The short version of the criticism might be put this way: Teachers of engineering ethics devote too much time to individual decisions and not enough time to social context. There are at least six version of this criticism, each corresponding to a specific subject omitted. Teachers of engineering ethics do not (it is said) teach enough about: 1) the culture of organizations; 2) the organization of organizations; 3) the legal environment of organizations; 4) the role of professions in organizations; 5) the role of organizations in professions; or 6) the political environment of organizations. My conclusion is that, while all six are worthy subjects, there is neither much reason to believe that any of them are now absent from courses in engineering ethics nor an obvious way to decide whether they (individually or in combination) are (or are not) now being given their due. What we have here is a dispute about how much is enough. Such disputes are not to be settled without agreement concerning how we are to tell we have enough of this or that. Right now we seem to lack that agreement—and not to have much reason to expect it any time soon.

Judgment is central to engineering, medicine, the sciences and many other practical activities. For example, one who otherwise knows what engineers know but lacks engineering judgment may be an expert of sorts, a handy resource much like a reference book or database, but cannot be a competent engineer. Though often overlooked or at least passed over in silence, the central place of judgment in engineering, the sciences, and the like should be obvious once pointed out. It is important here because it helps to explain where ethics fits into these disciplines. There is no good engineering, no good science, and so on without good judgment and no good judgment in these disciplines without ethics. Doing even a minimally decent job of teaching one of these disciplines necessarily includes teaching its ethics; teaching the ethics is teaching the discipline (or at least a large part of it).

After twenty-five years of integrating ethics across the curriculum at the Illinois Institute of Technology (IIT), the Center for the Study of Ethics in the Professions conducted a survey of full-time faculty to investigate: a) what ethical topics faculty thought students from their discipline should be aware of when they graduate, b) how widely ethics is currently being taught at the undergraduate and graduate level, c) what ethical topics are being covered in these courses, and d) what teaching methods are being used. The survey found that while progress spreading ethics across the curriculum has been substantial, it remains incomplete. The faculty think more should be done. From these findings we draw six lessons for ethics centers engaged in encouraging ethics across the curriculum.

Many outside science and engineering, especially social scientists and “rhetoricians”, claim that rhetoric, “the art of persuasion”, is an important part of technical communication. This claim is either trivial or false. If “persuasion” simply means “effective communication”, then, of course, rhetoric is an important part of technical communication. But, if “persuasion” has anything like its traditional meaning (a specific art of winning conviction), rhetoric is not an important part of technical communication; indeed, its use in technical communication would be unethical. [By] an advocate is meant one whose business it is to smooth over real difficulties, and to persuade where he cannot convince.

After twenty-five years of integrating ethics across the curriculum at the Illinois Institute of Technology (IIT), the Center for the Study of Ethics in the Professions conducted a survey of full-time faculty to investigate: a) what ethical topics faculty thought students from their discipline should be aware of when they graduate, b) how widely ethics is currently being taught at the undergraduate and graduate level, c) what ethical topics are being covered in these courses, and d) what teaching methods are being used. The survey found that while progress spreading ethics across the curriculum has been substantial, it remains incomplete. The faculty think more should be done. From these findings we draw six lessons for ethics centers engaged in encouraging ethics across the curriculum.

Our subject is how the experience of Americans with a certain funding criterion, “broader impacts” may help in efforts to turn the European concept of Responsible Research and Innovation into a useful guide to funding Europe’s scientific and technical research. We believe this comparison may also be as enlightening for Americans concerned with revising research policy. We have organized our report around René Von Schomberg’s definition of RRI, since it seems both to cover what the European research group to which we belong is interested in and to be the only widely accepted definition of RRI. According to Von Schomberg, RRI: “… is a transparent, interactive process by which societal actors and innovators become mutually responsive to each other with a view to the acceptability, sustainability and societal desirability of the innovation process and its marketable products .” While RRI seeks fundamental changes in the way research is conducted, Broader Impacts is more concerned with more peripheral aspects of research: widening participation of disadvantaged groups, recruiting the next generation of scientists, increasing the speed with which results are used, and so on. Nevertheless, an examination of the broadening of funding criteria over the last four decades suggests that National Science Foundation has been moving in the direction of RRI

This article is concerned with ways better communication between engineers and their managers might help prevent engineers being faced with some of the ethical problems that make up the typical course in engineering ethics. Beginning with observations concerning the Challenger disaster, the article moves on to report results of empirical research on the way technical communication breaks down, or doesn’t break down, between engineers and managers. The article concludes with nine recommendations for organizational change to help prevent communications breakdown.

Philosophical counselors are now debating whether they should be licensed in the way psychiatrists, psychologists, and other similar helping professions are. The side favoring licensing claim it is a step on the way to making philosophical counseling “a profession.” In this paper I explain why licensing has nothing to do with making a profession of philosophical counseling—and what does. In particular, I offer a definition of profession, explain its application to philosophical counseling, and defend it against competitors (especially various sociological definitions). I also explain the importance of licensing, registration, and certification—and its disadvantages for philosophical counseling.

The question considered is whether a convicted criminal has been treated unjustly if the only reason he receives a much heavier sentence than another criminal convicted of the same crime is that he came before a different judge. The answer offered is that such a criminal would not be treated unjustly. The principle of equality in punishment, properly understood, does not forbid even such gross disparities in sentence (though it also does not require them). The paper discusses the 1978 Model Sentencing and Corrections Act in detail and has important consequences for the current movement to reform punishment to assure just deserts.

ABSTRACT:The ethics of high frequency trading are obscure, due in part to the complexity of the practice. This article contributes to the existing literature of ethics in financial markets by examining a recent trend in regulation in high frequency trading, the prohibition of deception. We argue that in the financial markets almost any regulation, other than the most basic, tends to create a moral hazard and increase information asymmetry. Since the market’s job is, at least in part, price discovery, we argue that simplicity of regulation and restraint in regulation are virtues to a greater extent than in other areas of finance. This article proposes criteria for determining which high-frequency trading strategies should be regulated.

What are the conceptual connections between torture and profession? Exploring this question requires exploring at least two others. Before we can work out the conceptual connections between profession and torture, we must have a suitable conception of both profession and torture. We seem to have several conceptions of each. So, I first identify several alternative conceptions of profession, explaining why one should be preferred over the others. Next, I do the same for torture; and then, I argue that, given the preferred conception of torture and the preferred conception of profession, there can be no profession of torturers. In the final section, I argue that deliberately torturing or aiding in torture is always unprofessional. The fact that some conceptions of profession do not yield this conclusion tells us more about the inadequacy of those conceptions than about professions.