Reminiscences of James Buchanan and the Virginia School

These are my personal reflections on James Buchanan and the development of the Virginia School.     

Bank reserves: A dispute over words and classification

A prominent philosophical/legal case for requiring 100% bank reserves employs a flawed style of argument. It involves essentialism (criticized by Karl Popper and Joseph Schumpeter), persuasive definitions (identified by Charles L. Stevenson), faulty classification, and the piling up of irrelevant facts and considerations.     

Mavericks and Mavens of Business History: Miriam Beard and Henrietta Larson

This is the story of two women with differing visions aboutbusiness who have largely been forgotten. Miriam Beard, themaverick daughter of Progressive reformers Charles and MaryBeard, wrote the first international cultural history of thebusinessman in 1938. Henrietta M. Larson was Harvard BusinessSchool's first lady, the first female faculty member and thefirst woman to be tenured there. The two women never met orinteracted. Yet their lives and histories were entangled whenone woman, Henrietta, wrote a critical review about the contributionsof the other. This article uses their untold story to tracethe contentious process of professionalization that sidelinedone maverick outsider and kept a maven insider on the marginsof a fledgling discipline she had helped to create. Its significanceis to make gender central to the reintegration of business andculture and of women's roles in the historiography of business.     

Professional Ethics in a Virtual World: The Impact of the Internet on Traditional Notions of Professionalism

Numerous articles in the popular press together with an examination of websites associated with the medical, legal, engineering, financial, and other professions leave no doubt that the role of professions has been impacted by the Internet. While offering the promise of the democratization of expertise – expertise made available to the public at convenient times and locations and at an affordable cost – the Internet is also driving a reexamination of the concept of professional identity and related claims of expertise and standards of integrity.This paper begins with a presentation of case studies illustrating the ease by which impostors infiltrate the ranks of professionals. Reports of individuals masquerading as professionals via the Internet often reveal that these imposters cause harm to the unwary victims who rely on assertions of professional expertise. Such reports motivated the authors to examine the origins and evolution of the traditional roles of professions and professionals in today’s society, as well as question how, or whether, the standards for professional practice have been adapted to the challenges posed by technology, i.e., do statements of professional ethics provide a ‘guiding light’ for practitioners and their clients in the cyber age? The authors challenge the professions to consider the notion that technology forces a confrontation between the guild-like aspects of a profession that have served, on the one hand, to protect a profession from encroachment and, on the other hand, have purportedly protected the public.The authors conclude by presenting an examination of websites that show recognition of the challenges that the Internet poses to professionalism, as we have known it. Detailed discussion of the websites of two professions illustrates different approaches to responding to these challenges.