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Exploring Epistemic Vices in the Fiduciary: Injustice and Beyond

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  • Helen Mussell

Abstract

The paper investigates epistemic vices in the fiduciary. Building on existing work exploring the presence of epistemic injustice embedded in the fiduciary, the paper examines the presence of another vice - epistemic hubris - and suggests how epistemic injustice acts as a capital vice within the context of the fiduciary, facilitating hubris to flourish. Three interrelated arguments are advanced. The first focuses on how the asymmetrical leader-follower dynamic within the fiduciary results in hubris. The second builds on this exploring how the lack of consultation with the beneficiary alongside deployment of specific economic epistemic goods to interpret the fiduciary results in additional hubris. The third draws the two together, arguing that as epistemic injustice creates conditions for both examples of hubris to flourish, it serves as a capital vice within the context of the fiduciary. Finally, safeguarding suggestions are outlined for how these epistemic vices could be avoided.

Suggested Citation

  • Helen Mussell, 2021. "Exploring Epistemic Vices in the Fiduciary: Injustice and Beyond," Working Papers wp533, Centre for Business Research, University of Cambridge.
    • Handle: RePEc:cbr:cbrwps:wp533
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    File URL: https://www.jbs.cam.ac.uk/cbrwp533/
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    Keywords

    Fiduciary; Epistemic Vices; Epistemic Injustice; Epistemic;
    All these keywords.

    JEL classification:

    • B11 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Preclassical (Ancient, Medieval, Mercantilist, Physiocratic)
    • B26 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Financial Economics
    • B54 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Feminist Economics
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • K12 - Law and Economics - - Basic Areas of Law - - - Contract Law
    • K13 - Law and Economics - - Basic Areas of Law - - - Tort Law and Product Liability; Forensic Economics
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm

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