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$641,000 Grant Beefs Up Georgetown Institute for the Study of Markets and Ethics

Georgetown Institute for the Study of Markets and EthicsBoasting a new director, visiting professor and junior fellows, the Georgetown Institute for the Study of Markets and Ethics  (GISME) will offer expanded courses and research for business school students interested in learning more about ethical issues as they impact the functioning of markets, the school announced earlier this month.

“The expanded team at the Georgetown Institute for the Study of Markets and Ethics will greatly enhance our efforts to convene the best minds for conversation and debate about the market society,” John Hasnas, GISME executive director, said in a statement. “By advancing research and teaching methods surrounding professional ethics, we hope to educate both business students and the broader business community about a range of topics, including the ethical issues inherent in the market society.”

GISME, headquartered in Georgetown’s McDonough School of Business, was founded in 2011 to provide a comprehensive approach to the study of markets and ethics—one that includes an exploration of ethical questions related to business as well as examination of issues surrounding law, law enforcement policy and the challenges of conducting business in political environments where rules are subject to change.

Serving as the institute’s new director will be Michael Douma, who comes to Georgetown from James Madison University, where he was a visiting professor of history. Douma, whose research interests include the philosophy of history, the history of markets, and the theme of liberty in history, will work with Hasnas to support the institute’s mission of conducting high-quality research and developing courses and tools to advance the teaching of professional ethics. He will also help develop and lead a range of externally oriented programs designed to teach about ethical issues related to the functioning of markets.

Joining Douma will be Andrew J. Cohen, a visiting professor in ethics from Georgia State University, as well as two junior fellows, David Faraci and Govind Persad. Cohen’s research has focused on toleration, including the nature of exchange and the nature and morality of waste. Faraci, who previously taught at Virginia Tech and the University of North Carolina at Chapel Hill, is interested in metaethics, ethics, moral responsibility, and social and political philosophy. Persad, who conducts research at the intersection of applied ethics, political philosophy and health law, has been involved in recent projects focused on the implications of social and economic mobility as well as questions related to justice, priority-setting in health care and cost-effectiveness analysis.

A $641,000 grant from Charles Koch Foundation made expansion of the institute possible. The grant, which is renewable for a second year up to $591,000, will fund two years of support for these new staff positions, as well as the development of student programming.

Learn more about the Georgetown Institute for the Study of Markets and Ethics.