ABSTRACTThe major credit rating agencies contributed substantially to the sub‐prime mortgage crisis by giving their highest rating to most of the collateralized debt obligations securities that were backed by these sub‐prime mortgages. Because the rating agencies are compensated by the issuers whose CDO bonds they rate, this relationship creates a prima facie conflict of interest, one that is compounded when the rating agency also consults for the issuers on designing the CDOs. While Congress and the Securities Exchange Commission investigate possible (...) wrongdoing, various reforms have been proposed. This article analyzes these conflicts of interest and the cognate corporate governance issues. It then categorizes and critiques several of the reform proposals—which range in severity from requiring more disclosure to the suspension of the rating agency's license. (shrink)

“Free Will” is a philosophical term of art for a particular sort of capacity of rational agents to choose a course of action from among various alternatives. Which sort is the free will sort is what all the fuss is about. (And what a fuss it has been: philosophers have debated this question for over two millenia, and just about every major philosopher has had something to say about it.) Most philosophers suppose that the concept of free will is very (...) closely connected to the concept of moral responsibility. Acting with free will, on such views, is just to satisfy the metaphysical requirement on being responsible for one's action. (Clearly, there will also be epistemic conditions on responsibility as well, such as being aware—or failing that, being culpably unaware—of relevant alternatives to one's action and of the alternatives' moral significance.) But the significance of free will is not exhausted by its connection to moral responsibility. Free will also appears to be a condition on desert for one's accomplishments (why sustained effort and creative work are praiseworthy); on the autonomy and dignity of persons; and on the value we accord to love and friendship. (See Kane 1996, 81ff. and Clarke 2003, Ch.1.). (shrink)

The interventionist account of causal explanation, in the version presented by Jim Woodward, has been recently claimed capable of buttressing the widely felt—though poorly understood—hunch that high-level, relatively abstract explanations, of the sort provided by sciences like biology, psychology and economics, are in some cases explanatorily optimal. It is the aim of this paper to show that this is mistaken. Due to a lack of effective constraints on the causal variables at the heart of the interventionist causal-explanatory scheme, as presently (...) formulated it is either unable to prefer high-level explanations to low, or systematically overshoots, recommending explanations at so high of a level as to be virtually vacuous. (shrink)

In this paper I seek to defend libertarianism about free will and moral responsibility against two well-known arguments: the luck argument and the Mind argument. Both of these arguments purport to show that indeterminism is incompatible with the degree of control necessary for free will and moral responsibility. I begin the discussion by elaborating these arguments, clarifying important features of my preferred version of libertarianism—features that will be central to an adequate response to the arguments—and showing why a strategy of (...) reconciliation (often referred to as “deliberative libertarianism”) will not work. I then consider four formulations of the luck argument and find them all wanting. This discussion will place us in a favorable position to understand why the Mind argument also fails. (shrink)

Nearly all defences of the agent-causal theory of free will portray the theory as a distinctively libertarian one — a theory that only libertarians have reason to accept. According to what I call ‘the standard argument for the agent-causal theory of free will’, the reason to embrace agent-causal libertarianism is that libertarians can solve the problem of enhanced control only if they furnish agents with the agent-causal power. In this way it is assumed that there is only reason to accept (...) the agent-causal theory if there is reason to accept libertarianism. I aim to refute this claim. I will argue that the reasons we have for endorsing the agent-causal theory of free will are nonpartisan. The real reason for going agent-causal has nothing to do with determinism or indeterminism, but rather with avoiding reductionism about agency and the self. As we will see, if there is reason for libertarians to accept the agent-causal theory, there is just as much reason for compatibilists to accept it. It is in this sense that I contend that if anyone should be an agent-causalist, then everyone should be an agent-causalist. (shrink)

In the research ethics literature, there is strong disagreement about the ethical acceptability of placebo-controlled trials, particularly when a tested therapy aims to alleviate a condition for which standard treatment exists. Recently, this disagreement has given rise to debate over the moral appropriateness of the principle of clinical equipoise for medical research. Underlying these debates are two fundamentally different visions of the moral obligations that investigators owe their subjects.Some commentators and ethics documents claim that physicians, whether acting as care givers (...) or researchers, have the same duty of beneficence towards their patients and subjects: namely, that they must provide optimal medical care. In discussing placebo surgery in research on refractory Parkinson's disease, Peter Clark succinctly states this view: “The researcher has an ethical responsibility to act in the best interest of subjects.”. (shrink)

According to Quine’s indispensability argument, we ought to believe in just those mathematical entities that we quantify over in our best scientific theories. Quine’s criterion of ontological commitment is part of the standard indispensability argument. However, we suggest that a new indispensability argument can be run using Armstrong’s criterion of ontological commitment rather than Quine’s. According to Armstrong’s criterion, ‘to be is to be a truthmaker (or part of one)’. We supplement this criterion with our own brand of metaphysics, 'Aristotelian (...) (...) realism', in order to identify the truthmakers of mathematics. We consider in particular as a case study the indispensability to physics of real analysis (the theory of the real numbers). We conclude that it is possible to run an indispensability argument without Quinean baggage. (shrink)

Libertarianism has, seemingly, always been in disrepute among philosophers. While throughout history philosophers have offered different reasons for their dissatisfaction with libertarianism, one worry is recurring: namely a worry about luck. To many, it seems that if our choices and actions are undetermined, then we cannot control them in a way that allows for freedom and responsibility. My fundamental aim in this paper is to place libertarians on a more promising track for formulating a defensible libertarian theory. I begin by (...) arguing that Robert Kane's influential formulation of libertarianism actually generates an acute worry about luck, showing specifically that Kane's recipe for solving the problem of luck and his attendant conception of the location and role of indeterminism derived from it are deeply problematic. I then offer a reformulation of libertarianism ? particularly a new conception of the location and role of indeterminism ? that is capable of avoiding the problems that beset Kane's theory and that, I argue, places libertarians on a more promising track for formulating a defensible theory. (shrink)

Recent literature has raised what I'll call the 'multiscale argument' against reduction (see e.g. Batterman (2013), Wilson (2017), Bursten (2018)). These authors observe that numerous successful scientific models appeal to features and properties from a wide range of spatial/temporal scales. This is taken to undermine views that the world is sharply divided into distinct levels, roughly corresponding to different scales, and that each higher level is reducible to the next lowest level. -/- While the multiscale argument does undermine a naive (...) conception of levels and reduction, in this paper I argue that alternative views of reduction and levels can withstand this argument. After articulating the multiscale argument in more detail, I show that this does not undermine a version of reduction that accepts methodological pluralism in science, yet maintains that the adequacy of any model can be explained by appeal to details at smaller scales. I go on to discuss a case study – dislocations in steel –e used by Batterman and Wilson in defence of the multiscale argument. I argue that the version of reduction advocated above is available in this context. I conclude by arguing that, in the face of the multiscale argument, levels are either everywhere or nowhere. (shrink)

The classical arguments for scepticism about the external world are defended, especially the symmetry argument: that there is no reason to prefer the realist hypothesis to, say, the deceitful demon hypothesis. This argument is defended against the various standard objections, such as that the demon hypothesis is only a bare possibility, does not lead to pragmatic success, lacks coherence or simplicity, is ad hoc or parasitic, makes impossible demands for certainty, or contravenes some basic standards for a conceptual or linguistic (...) scheme. Since the conclusion of the sceptical argument is not true, it is concluded that one can only escape the force of the argument through some large premise, such as an aptitude of the intellect for truth, if necessary divinely supported. (shrink)

This paper provides an overview of results from an Australian Research Council-funded project "Sentiments and Risks: The Changing Nature of Human-Animal Relations in Australia." The data discussed come from a survey of 2000 representative Australians at the capital city, state, and rural regional level. It provides both a snapshot of the state of involvement of Australians with nonhuman animals and their views on critical issues: ethics, rights, animals as food, risk from animals, native versus introduced animals, hunting, fishing, and companionate (...) relations with animals. Its data point to key trends and change. The changing position of animals in Australian society is critical to understand, given its historic export markets in meat and livestock, emerging tourism industry with its strong wildlife focus, native animals' place in discourses of nation, and the centrality of animal foods in the national diet. New anxieties about risk from animal-sourced foods and the endangerment of native animals from development and introduced species, together with tensions between animals' rights and the privileging of native species, contribute to the growth of a strongly contested animal politics in Australia. © 2007 Brill Academic Publishers. (shrink)

We show how an epistemology informed by cognitive science promises to shed light on an ancient problem in the philosophy of mathematics: the problem of exactness. The problem of exactness arises because geometrical knowledge is thought to concern perfect geometrical forms, whereas the embodiment of such forms in the natural world may be imperfect. There thus arises an apparent mismatch between mathematical concepts and physical reality. We propose that the problem can be solved by emphasizing the ways in which the (...) brain can transform and organize its perceptual intake. It is not necessary for a geometrical form to be perfectly instantiated in order for perception of such a form to be the basis of a geometrical concept. (shrink)

The Encyclopedia of Philosophy could state accurately in 1967: "Of all the major German philosophers, Schelling is the least known in the English-speaking world." A tentative survey discloses few articles and books on one who is casually ranked with Hegel. There is, in fact, not one book-length study in English on Schelling’s thought.

We investigate the relationship between lowness for Schnorr randomness and Schnorr triviality. We show that a real is low for Schnorr randomness if and only if it is Schnorr trivial and hyperimmune free.

According to Quine’s indispensability argument, we ought to believe in just those mathematical entities that we quantify over in our best scientific theories. Quine’s criterion of ontological commitment is part of the standard indispensability argument. However, we suggest that a new indispensability argument can be run using Armstrong’s criterion of ontological commitment rather than Quine’s. According to Armstrong’s criterion, ‘to be is to be a truthmaker (or part of one)’. We supplement this criterion with our own brand of metaphysics, 'Aristotelian (...) realism', in order to identify the truthmakers of mathematics. We consider in particular as a case study the indispensability to physics of real analysis (the theory of the real numbers). We conclude that it is possible to run an indispensability argument without Quinean baggage. (shrink)

Cultural differences in the perception of geometric illusions. Science 139: 769- 71. Shepard, RN 1 99o. Mind sights. New York: Freeman & Co. ...

The late twentieth century saw two long-term trends in popular thinking about ethics. One was an increase in relativist opinions, with the “generation of the Sixties” spearheading a general libertarianism, an insistence on toleration of diverse moral views (for “Who is to say what is right? – it’s only your opinion.”) The other trend was an increasing insistence on rights – the gross violations of rights in the killing fields of the mid-century prompted immense efforts in defence of the “inalienable” (...) rights of the victims of dictators, of oppressed peoples, of refugees. The obvious incompatibility of those ethical stances, one anti-objectivist, the other objectivist in the extreme, proved no obstacle to their both being held passionately, often by the same people. (shrink)

Brains, unlike artificial neural nets, use symbols to summarise and reason about perceptual input. But unlike symbolic AI, they “ground” the symbols in the data: the symbols have meaning in terms of data, not just meaning imposed by the outside user. If neural nets could be made to grow their own symbols in the way that brains do, there would be a good prospect of combining neural networks and symbolic AI, in such a way as to combine the good features (...) of each. The article argues the cluster analysis provides algorithms to perform the task, and that any solution to the task must be a form of cluster analysis. (shrink)

Though there is no international government, there are many international regimes that enact binding regulations on particular matters. They include the Basel II regime in banking, IFRS in accountancy, the FIRST computer incident response system, the WHO’s system for containing global epidemics and many others. They form in effect a very powerful international public sector based on technical expertise. Unlike the public services of nation states, they are almost free of accountability to any democratically elected body or to any legal (...) system. Although by and large they have acted for good, the dangers of long-term unaccountability are illustrated by the travesties of justice perpetrated by the International Labour Organisation Administrative Tribunal. (shrink)

Both philosophical and practical analyses of global justice issues have been vitiated by two errors: a too-high emphasis on the supposed duties of collectives to act, and a too-low emphasis on the analysis of causes and risks. Concentrating instead on the duties of individual actors and analysing what they can really achieve reconfigures the field. It diverts attention from individual problems such as poverty or refugees or questions on what states should do. Instead it shows that there are different duties (...) for political leaders, intelligence operatives, opinion leaders and citizens in devising, urging and implementing such plans as transfers of aid with accountability, military interventions in rogue states and limited intakes of refugees. With collectivist excuses for inaction such as sovereignty out of the way, it is possible to take a cautiously optimistic view of the possibility of forceful and morally responsible interventions in the range of major global problems. (shrink)

In the target article, Baars has offered both a theory of consciousness and a strategy for scientifically testing the theory. This commentary is intended as an addendum. I'd like to suggest implementing global workspace agents as both an additional strategy toward scientific testing, and as a means of fleshing out the theory.

Democracy has difficulties with the rights on non-voters (children, the mentally ill, foreigners etc). Democratic leaders have sometimes acted ethically, contrary to the wishes of voters, e.g. in accepting refugees as immigrants. The remarkable story of resettlement of the Displaced Persons of Europe after World War II is a case in point.

In this paper I examine the roles that experiment plays in science. Experiment can test theories, but it can also call for a new theory. Experiment can also provide hints about the mathematical form of a theory. Likewise it can provide evidence for the existence of the entities involved in our theories. Finally, it may also have a life of its own, independent of theory. I will illustrate these roles using episodes from the history of contemporary physics. I will also (...) discuss an epistemology of experiment, a set of strategies that provides grounds for reasonable belief in experimental results. (shrink)