As well as explaining the basis for, and linking the thematic structure of the contributions to, the Journal of Management History ‐ Special Issue on the topic of rationality, the…
Abstract
As well as explaining the basis for, and linking the thematic structure of the contributions to, the Journal of Management History ‐ Special Issue on the topic of rationality, the article appraises the philosophical trichotomisation (or three‐part division) of epistemology. Recognising that rationality is primarily a philosophical concept, but also an esteemed and iconic indicator for good reasoning, the discussion of the trichotomised epistemology is undertaken to illustrate that rationality is conceptually understood in three different forms. From the observation that rationality has to be conceived as trimorphic, the commentary then illustrates the substantive limitations for each form.
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Many scholars and practitioners consider development to be as much an institutional and organizational phenomenon as it is an economic one. Among other elements, civil society is…
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Many scholars and practitioners consider development to be as much an institutional and organizational phenomenon as it is an economic one. Among other elements, civil society is a key determinant of a country’s level of social capital. Important links appear to exist between a robust associational milieu and the effective operation of democracy. However, the role of civil society organizations in human development has only recently gained attention.
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Woller, Dunford, and Woodworth (1999) and Morduch (2000) were among the first to discuss the existence of a “schism” in the study of microfinance. Although the exact dimensions of…
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Woller, Dunford, and Woodworth (1999) and Morduch (2000) were among the first to discuss the existence of a “schism” in the study of microfinance. Although the exact dimensions of this divide are stated differently by various authors, the existence of alternative schools of thought is widely accepted (Brett, 2006; Bhatt & Tang, 2001; Mitlin, 2002; Robinson, 2001; Rhyne, 1998).
Todd A. Watkins and Karen Hicks
The microfinance industry (MFI) has crossed the threshold into a period of tremendous growth. This growth was significantly accelerated by media attention to the industry during…
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The microfinance industry (MFI) has crossed the threshold into a period of tremendous growth. This growth was significantly accelerated by media attention to the industry during the United Nations Year of Microcredit in 2005 and the awarding of the 2006 Nobel Peace Prize to Grameen Bank founder Mohammed Yunus, as well as the interest of high-profile donors and investors, including eBay founder Pierre Omidyar and Microsoft founder Bill Gates. Despite the promise for international development, despite the proven track record of exceptional loan repayment rates, and despite the development of competitive markets in countries like Bolivia, Peru and Bangladesh or the global expansion of microfinance access to tens of millions of new clients, little research has explored the impact this expansion has had on global poverty and economic and social development, in general.
Julie Abrams, President, Microfinance Analytics, has been a consultant to the microfinance industry for 15 years. She has authored or co-authored 16 publications on microfinance…
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Julie Abrams, President, Microfinance Analytics, has been a consultant to the microfinance industry for 15 years. She has authored or co-authored 16 publications on microfinance topics including international financial institution funding, foreign investment, MFI debt default, foreign exchange risk, an e-course on financial risk management, capital structure, profitability, financial performance, and MFI appraisals. Julie has been on the review panel and jury for CGAP's Financial Transparency Awards. She currently serves as an advisor for Research and Analysis to the International Association of Microfinance Investors (IAMFI) and is a member of the Calvert Foundation's External International Investment Committee, including reviews of MicroPlace and all syndicated lending. She began working in microfinance in 1985 with Women's World Banking. Julie was a fellow at the Lauder Institute of Management and International Studies, where she earned an MBA from the Wharton School and an MA in International Studies from the University of Pennsylvania and holds a BA in Economics from Oberlin College.
An ancient, and most influential, concept in management thought is the idea of rationality. Criticism with regard to a rational approach to management seems to focus on the…
Abstract
An ancient, and most influential, concept in management thought is the idea of rationality. Criticism with regard to a rational approach to management seems to focus on the importance of value issues. It is argued in this article that from a historical‐philosophical perspective values and rationality are not simply each other’s opposites, but closely related. The article sketches the conceptual development of the idea of rationality in philosophical thinking. The adopted focus is to consider the major changes in the meaning of the idea of rationality, and the kind of criticism the idea has encountered. Schematically, the article approaches the conceptual development of a current‐day comprehension of “rationality” by using four episodes: ancient thinking towards wise leadership; the Greek idea of logos; the nineteenth century modernist belief in positivism; and the twentieth century “postmodernist” debate which culminates in Habermas’ “communicative” rationality. An assessment of the meaning of rationality in management thought is undertaken by an initial appraisal of the roots of management thought prior to the emergence of rationality as an idea. This illustrates the often neglected normative basis of management thought, and stresses the importance of managerial “values”. It enables a perspective on the ancient Greek development of meaning for logos, which is the classical precursor for modern day rationality. By appraising the development of rationality as a particular conceptual type, rather than a specific philosophical idea, the non‐normative approach adopted in modernist management writings emerges as being a severely constrained concept. From a philosophical perspective, a reduction of rationality to some kind of “goal‐oriented” action is inadequate. This is because rationality and valuation have traditionally been, and remain, closely linked. As such, the three Es of goal‐rationality (economy, efficiency, and effectiveness) acquire a counterpart that refers to value‐rationality ‐ ethics.