While corporate fiduciary duties in many jurisdictions are generally understood to be owed to shareholders, recent Canadian Supreme Court cases have held that directors owe their duties to the corporation, period, not to shareholders or any other stakeholders. This development has introduced significant indeterminacy to the law since it is not clear what such a conception of the duty requires. The Supreme Court did, however, make one clear statement: it held that directors owe a fiduciary duty to ensure that their (...) corporations obey statutory law. Such a duty encourages compliance with law, but may over-encourage compliance: individual directors do not necessarily gain personally from legal breaches, but may lose personally from them because of fiduciary liability, so they will have excessively strong incentives to avoid such breaches. The Article connects the fiduciary duty to obey law with recent developments in financial regulation that have increased the obligations on directors of financial institutions to oversee risk. By requiring directors to be engaged with risk at a governance level, regulators have enhanced the probability that directors will face liability under their fiduciary duties if their institutions do not comply with financial regulations. As the Article explains, the policy tradeoff between enhanced compliance benefits and over-compliance costs of fiduciary liability is different in the context of financial regulation from that in other settings. For example, significant corporate penalties, as opposed to penalties borne by individual directors, may be inconsistent with the prudential goals of regulation, perhaps because of toobig- to-fail concerns. The fiduciary duty to cause the corporation to obey financial regulation, and a stricter application of this duty than the highly deferential standard that exists in Delaware law, has advantages that do not exist in other legal and regulatory contexts. (shrink)

The focus of this chapter is the rise of investigations in philosophical aesthetics in the mid-1950s and continuing through to the mid-1960s. This salient issue had to do with the foundations of philosophical aesthetics in the context of the Marxist-Leninist worldview. That this became an issue was due in large part to the appearance, in 1956, of the first Russian translation of Marx’s Economic and Philosophical Manuscripts of 1844. Marx’s emphasis in these writings on the self-constituting, transformative potential of labor (...) suggested possibilities for an aesthetic that did not sit comfortably with the dogmatic principles of dialectical and historical materialism. In effect, the foundational question for a Soviet aesthetics went to the heart of Marxism-Leninism: could young Marx’s anthropocentrism be reconciled with the established Soviet doctrine beholden to, on the one hand, Engels’ metaphysics of “matter-in-motion” and, on the other hand, Lenin’s copy theory of knowledge? Among the aestheticians, the issue surfaced in a debate about the nature of beauty: is beauty relative to man or is it an objectively cognizable material property? To the degree that the parties to this debate addressed the underlying issue, they tended to remain ambivalent toward the result that neither side—those favoring creative expression versus the defenders of objective beauty—simply conceded nor rejected the views of the other. As I argue, a systematic philosophical aesthetics within the scope of Soviet philosophy never saw the light of day. By the mid-1960s, research was ramifying into a variety of adjacent considerations, for example, value theory, theories of culture and cultural artifacts, the history of aesthetic categories, the social and pedagogical functions of art, art and morality in relation to the “socialist way of life,” art in the era of the “scientific-technological revolution,” and so on—of which only some recalled the spirit, rarely the letter, of the initial “aesthetics” discussion. (shrink)

Clarke and Beck suggest that the ratio processing system may be a component of the approximate number system, which they suggest represents rational numbers. We argue that available evidence is inconsistent with their account and advocate for a two-systems view. This implies that there may be many access points for numerical cognition – and that privileging the ANS may be a mistake.

On the basis of his acquaintance with theoretical elementary particle physics, and following the lead of Thomas Torrance, John Polkinghorne maintains that the data upon which a science is based, and the method by which it treats those data, must respect the idiosyncratic nature of the object with which the science is concerned. Polkinghorne calls this the "accommodation" (or "conformity") of a discipline to its object. The question then arises: What should we expect religious experience and theological method to be (...) like if they are accommodated to the idiosyncratic nature of God? Polkinghorne's methodological program is typical of postcritical positions in the theology-science dialogue in holding that the fiduciary element in theological method is simply a species of the fiduciary element that is a de facto part of all knowing—in other words, theological method does not differ in fundamental kind from the methods of the natural sciences. But this program may contain the seeds of an alienation of theological method from the transcendence of God similar to the double self-alienation of theology described by Michael Buckley in At the Origins of Modern Atheism. I contend that something like Bernard Lonergan's position on how the method of faith seeking understanding is related to the methods of the natural sciences is exactly the sort of thing that one should expect on the supposition of Polkinghorne's principle of accommodation, at least if the God who is the object of theological science is transcendent. The way in which the divine differs from all other objects ought to be disclosed or reflected in religious experience and theological method. Polkinghorne charts the course for an accommodated theology, but it seems to be Lonergan who is more intent on following it. (shrink)

The worldwide variation in mating strategies can be explained by differential paternal investment theory, which traces the differences back to the climates where the various peoples (races) evolved. Male provisioning is necessary for women and children to survive cold winters, which is less essential for tropical women. Androstenone may be the substance that makes symmetrical men smell better to fertile females.

As Edward Hundert--a philosopher, psychiatrist, and award-winning educator--makes clear in this eloquent interdisciplinary work, the newly emerging model for ...

With the dismantling of Marxist-Leninist ideology, fresh inspiration has been discernible in recent Soviet philosophy. This article argues that a major area of concern is the nature of the human being, a theme formerly dominated by the "social" conceptions inscribed into official historical materialism. Soviet philosophers are examining such categories as culture, spirit, consciousness, and personality with an eye to their common characteristics. For many, the latter is grounded in the nature of the person, the specificity of which lies in (...) a morally qualified unity of action, sentiment, and reason. The author brings together evidence for this thesis and discusses the arguments of the Soviet philosophers with an eye to their conceptual resources and models. (shrink)

This article presents Aristotelian scientific demonstration as a method for attaining intuitive theoria of essential natures. Such insight is attained through the discursive demonstrative syllogism. Science is understood as knowledge of causes through their effects, as opposed to an operative knowledge of the consequences of causes. This understanding is thus counter-reductionist.

Any cognitive orientation toward nature is interconnected with how the metaphysical structure of nature itself is understood. In the Aristotelian tradition, the primary unit of being is considered to be the substantial form, which constitutes the being and essence of entities. In the mechanistic tradition, the primary units are considered to be minute particles out of which larger entities are constructed. Correspondingly, Aristotelian scientific methodology seeks to gain insight into the substantial forms through a study of the outer properties of (...) entities. This is accomplished in demonstration. On the other hand, scientific methodology inthe mechanist tradition seeks to reduce entities to their smallest particles in order to determine how properties are produced through the interaction of such particles. This paper shows how, through certain transformations in Aristotelian techne, mechanistic metaphysics arose with its attendant methodological stance of seeking an operational knowledge of nature. (shrink)

In this commentary we discuss a predictive sensorimotor illusion, the size-weight illusion, in which the smaller of two objects of equal weight is perceived as heavier. We suggest that Grush's emulation theory can explain this illusion as a mismatch between predicted and actual sensorimotor feedback, and present preliminary data suggesting that the cerebellum may be critical for implementing the emulator.

The author examines, historically and theoretically, issues related to the state and current tendencies of post-Soviet Russian philosophy. The accent falls on the meta-philosophical question, what is philosophy?, or as the Russians often say, what is philosophizing?. In the Russian case, this question has presently to be handled in a cultural context ridden with a sense of discontinuity following the Soviet collapse. The author sketches some concepts intended to shed light on the nature of the relation between a philosophical culture (...) and the wider socio-cultural context in which it is embedded. The model is applied to the case of post-Soviet philosophy in order to see if and to what extent the logic of Soviet philosophizing and its place in the Soviet socio-cultural order has affected current philosophical tendencies in Russia, above all at the meta-philosophical level. The author concludes with a summary and commentary of the views of A.S. Akhiezer. (shrink)

Epistemology — the study of knowledge — is a philosophical discipline with close ties to psychiatry. When epistemologists address specific questions about how knowledge is actually realized by human beings, their philosophy must be informed by empirical studies of the sort psychiatrists now take up in a variety of forms. As this paper describes, psychiatrists can likewise improve their understanding of human psychology through a deeper appreciation of philosophical analysis in epistemology.The aim of this article is to introduce a unifying (...) framework within which the experience from different approaches to psychiatry — (1) the conceptual schemas of cognitive psychiatry, (2) the mental structures of psychoanalytic psychiatry, (3) the categorical forms of existential psychiatry, and (4) the neural pathways of biological psychiatry — can all be applied productively to the central question of epistemology. By establishing a broad understanding of the problem of knowledge, this new view of epistemology is developed within the idiom of each psychiatric approach. In addressing themselves to a unitary problem, these diverse psychiatric approaches are themselves revealed, not as competing points of view, but as complementary views of a single subject. The result is a new epistemology that can not only bring the insights of psychiatry to philosophy, but can also contribute to the care of patients when psychiatrists bring this broader view to their clinical work. (shrink)

In Athens during the late Classical and Hellenistic periods, it was customary for a man who was borrowing a large sum of money to pledge some property as security for the repayment of his loan. To show that this property was legally encumbered, a flat slab of stone, called a horos, was set up, and an inscription, indicating the nature of the lien on the property, was inscribed on the horos. These horoi served to warn third parties that the man (...) who pledged the property as security was not free to sell it or otherwise alienate it until the loan was repaid. The terminology which is used on these horoi to indicate that the property has been pledged as security varies. On a relatively small number of horoi, only seven, the property is described as ‘lying under ’ for a debt, the amount of which may or may not be specified. The texts found on a far greater number of horoi, some 128 in all, use a different type of expression. On these horoi, the property is said to have been ‘sold on condition of release’ . The terminology used on the horoi to describe this kind of lien presents a striking contrast with that employed by the Attic orators: in their speeches we find the verbs ποκεσθαι and ποτιθναι when it is a question of pledging security for a loan, but never ππρασθαι with the addition of the prepositional phrase π λσει. (shrink)

This essay seeks to ground the ontological integrity of natural things by examining the dialectic between substantial form, which is the “being-in-itself ”of substances, and second acts, the “being-toward-others” of substances. It is found that a new category of causality needs to be established, that of “expressive causality.” The effects of expressive causality—second acts—are expressions of their substantial form, their cause. It is determined that second acts are sufficient conditions for substantial form, while substantial form itself is a necessary condition (...) for its second acts. This implies that substantial form is ontologically prior to its second acts, which are proper attributes. These proper attributes are distinct from yet essentially connected with substantial form, and can never exhaust the content of the form. (shrink)

Associations between family income and child developmental outcomes are well documented. However, family income is not static but changes over time. Although this volatility represents income shocks that are likely to affect children’s lives, very few studies have so far examined its effect on early cognitive development. This study investigated associations between family income, volatility, and changes in cognitive outcomes in early childhood and examined whether these associations are dependent on a family’s overall income position. Data for the study spanned (...) five waves of the Growing Up in Scotland longitudinal survey. Findings indicate that income volatility was more prevalent among disadvantaged sociodemographic groups. In addition to average income, short-term volatility was associated with changes in child cognitive outcomes from ages 3 to 5. While upward volatility was associated with gains in expressive vocabulary, downward and fluctuating volatility were associated with declines in child problem-solving abilities. The association between volatility and changes in cognitive outcomes was similar for both children living in poverty and those from medium–high-income households. Our results suggest that policies aiming to cushion all families from negative income shocks, boost family income to ensure stability, and take low-income families out of poverty will have a significant impact on children’s cognitive development. Additionally, a more nuanced conceptualization of income is needed to understand its multidimensional impact on developmental outcomes. (shrink)