Taming the power of Wall Street was a principal campaign theme for Franklin Delano Roosevelt in the 1932 election. Roosevelt's election bore fruit in the Securities Act of 1933, which regulated the public offering of securities, the Securities Exchange Act of 1934, which regulated stock markets and the securities traded in those markets, and the Public Utility Holding Company Act of 1935 (PUHCA), which legislated a wholesale reorganization of the utility industry. The reform effort was spearheaded by the newly created (...) Securities and Exchange Commission, part of the new wave of experts brought to Washington to rein in business. PUHCA also marked the federal government's first significant incursion into corporate governance, with a corresponding reduction in the traditional role of investment bankers. The SEC's ascendance over the investment bankers was reinforced during FDR's second term by the Chandler Act of 1938, which provided the agency with a broad role in the bankruptcy reorganization of troubled companies.Enacting those statutes was only the beginning, as the scope and effectiveness of the SEC's regulatory efforts depended critically on navigating these new statutes past an initially hostile Supreme Court. After substantial delay in the lower courts, the securities statutes eventually got a friendly hearing in the Supreme Court, where a number of Justices came to the Court after serving as the "Founding Fathers" of the federal securities laws. Roosevelt's Supreme Court nominees were involved in drafting the new legislation, securing its passage in Congress and implementing a litigation strategy that successfully stalled final determination of the constitutionality of the securities laws until New Deal appointed justices were in place. Felix Frankfurter played an important role in shaping the Securities Act and PUHCA, and was a key advisor on litigation strategy to the Roosevelt administration. Hugo Black led the legislative battle to enact PUHCA against the utility companies. Stanley Reed and Robert Jackson were key courtroom advocates arguing PUHCA's constitutionality. William O. Douglas headed the study of Protective Committees that led to the Chandler Act and was Chairman of the SEC. In this article, we explore the role of the New Deal justices in enacting the securities laws, litigating the challenges brought against them and then interpreting these laws in securities cases before the Supreme Court. We show the important role that these New Deal justices played in ensuring a broad scope for the federal securities laws through generous interpretation. Once constitutional questions had faded, securities cases proved to be a critical testing ground for newly emerging theories of administrative law. We demonstrate the split over the importance of judicial review versus deference to the rule of experts that emerged among these Roosevelt appointees. Finally, we explore the relative lack of influence of Douglas and Frankfurter in these cases, despite their familiarity and experience with the securities laws. (shrink)

This title provides a synoptic overview of the current state of interdisciplinary research, education, administration and management, and problem solving - knowledge that spans the disciplines and interdisciplinary fields and crosses the space between the academic community and society at large.

J. F. C. Harrison has written that ‘for each age there is a new view of Mr Owen’, which is proof of the fertility and continuing relevance of his ideas. Not just in Britain and America but today around the world anti-poverty campaigners, birth-controllers, collectivists, communitarians, co-operators, ecologists, educationalists, environmentalists, feminists, humanitarians, internationalists, paternalistic capitalists, secularists, campaigners for social justice, trade unionists, urban planners, utopians, welfare reformers can all find something to admire and inspire in the treasure trove that is (...) the thought and actions of Robert Owen. Owen was a creative genius of global significance, a radical writer and activist of international reputation and reach who has inspired those seeking to change human society for the better. The contributors to this volume include not only many of the recognized experts on the life, work and legacy of Owen, but also work from younger scholars or scholars coming to the field afresh. The volume presents the most recent and original research on Owen. Owen notoriously (and impressively) dabbled in many spheres, and this is reflected in the its breadth of content. The unifying themes are Owen’s profile in his own time, and the relevance of his ideas for the generations that followed. His importance for educational and social philosophy, for political economy and for the political theory of socialism are all discussed, as are his contribution as a philanthropic employer, his political activities and the specificities of his historical context. (shrink)

2. The equal status mentioned in Thesis 2 need not mean, "equally concrete" or "inclusive," but only, "equally real," where "real" means having a character of its own with reference to which opinions can be true or false. But becoming or process is alone fully concrete or inclusive, since if A is without becoming, and B becomes, then the togetherness of AB also becomes. A new constituent means a new totality. In this sense, becoming is the ultimate principle.

Over the last decade, the c‐myb gene and its protein product, Myb, have undergone extensive examination and manipulation in hemopoietic tissues. Although it is rarely disputed that, as a transcription factor, Myb regulates cell cycling, proliferation and differentiation, identification of genes directly controlled by Myb has been surprisingly difficult. More recently, genes with promoter regions that contain Myb recognition sequences have been identified, but a direct proliferative response to Myb via these ‘target genes’ has yet to be demonstrated. Mutagenesis studies (...) have defined domains of the protein which influence its transcriptional activity and transforming potential; however how the molecule interacts with itself and with other cellular factors is only beginning to be understood. A broader examination of c‐myb expression in normal and malignant tissues suggests an analogous role for Myb in proliferation, differentiation and transformation of nonhemopoietic tissues. (shrink)

An analysis of two heuristic strategies for the development of mechanistic models, illustrated with historical examples from the life sciences. In Discovering Complexity, William Bechtel and Robert Richardson examine two heuristics that guided the development of mechanistic models in the life sciences: decomposition and localization. Drawing on historical cases from disciplines including cell biology, cognitive neuroscience, and genetics, they identify a number of "choice points" that life scientists confront in developing mechanistic explanations and show how different choices result in (...) divergent explanatory models. Describing decomposition as the attempt to differentiate functional and structural components of a system and localization as the assignment of responsibility for specific functions to specific structures, Bechtel and Richardson examine the usefulness of these heuristics as well as their fallibility—the sometimes false assumption underlying them that nature is significantly decomposable and hierarchically organized. When Discovering Complexity was originally published in 1993, few philosophers of science perceived the centrality of seeking mechanisms to explain phenomena in biology, relying instead on the model of nomological explanation advanced by the logical positivists (a model Bechtel and Richardson found to be utterly inapplicable to the examples from the life sciences in their study). Since then, mechanism and mechanistic explanation have become widely discussed. In a substantive new introduction to this MIT Press edition of their book, Bechtel and Richardson examine both philosophical and scientific developments in research on mechanistic models since 1993. (shrink)

Contents: Ethical principals for environmental protection / Robert Goodin -- Political representation for future generations / Gregory S. Kavka and Virginia L. Warren -- On the survival of humanity / Jan Narveson -- On deep versus shallow theories of environmental pollution / C.A. Hooker -- Preservation of wilderness and the good life / Janna L. Thompson -- The rights of the nonhuman world / Mary Anne Warren -- Are values in nature subjective or objective? / Holmes Rolston III (...) - Duties concerning islands / Mary Midgley -- Gaia and the forms of life / Stephen R.L. Clark -- Western traditions and environmental ethics / Robin Attfield -- Traditional American Indian and traditional western European attitudes toward nature / J. Baird Callicott -- Roles and limits of paradigms in environmental thought and action / Richard Routley. [Book Synopsis]. (shrink)

In this essay, we argue that trust is a dynamic emotional relationship which entails responsibility. Trust is not a social substance, a medium, or a mysterious entity but rather a set of social practices, defined by our choices, to trust or not to trust. We discuss the differences and the relationship between trust and trustworthiness, and we distinguish several different kinds or “levels” of trust, simple trust, basic trust, “blind” trust, and authentic trust. We then argue that trust as an (...) emotional practice, can be “willful,” voluntary and amatter of personal responsibility. (shrink)

The Greek philosopher Aristotle, writing over two thousand years before Wall Street, called people who engaged in activities which did not contribute to society "parasites." In his latest work, renowned scholar Robert C. Solomon asserts that though capitalism may require capital, but it does not require, much less should it be defined by the parasites it inevitably attracts. Capitalism has succeeded not with brute strength or because it has made people rich, but because it has produced responsible citizens and--however (...) unevenly--prosperous communities. It cannot tolerate a conception of business that focuses solely on income and vulgarity while ignoring traditional virtues of responsibility, community, and integrity. Many feel that there is too much lip-service and not enough understanding of the importance of cooperation and integrity in corporate life. This book rejects the myths and metaphors of war-like competition that cloud business thinking and develops an "Aristotelean" theory of business. The author's approach emphasizes several core concepts: the corporation as community, the search for excellence, the importance of integrity and sound judgment, as well as a more cooperative and humane vision of business. Solomon stresses the virtues of honesty, trust, fairness, and compassion in the competitive business world, and confronts the problem of "moral mazes" and what he posits as its solution--moral courage. (shrink)

As we enter the new millennium, there is an overriding question facing global corporate free enterprise, and that is whether the corporations that now or will control and affect so much of the planet’s humanity and resources can demonstrate not only theirprofitability but their integrity. The old quasi-theological arguments still persist, whether multinational corporations and capitalism ingeneral best serve humanity; whether corporations and capitalism are good or evil or whether they are, at best, amoral; whethercorporations can have a conscience; and (...) whether responsibility can be expected of them. (shrink)

In this analysis of his thought on friendship, I begin first by arguing that for Nietzsche friendship is undesirable or impossible with or between four human types. Insight on this point is valuable, because it provides clear vision of what friendship is not. Second, I will argue that Nietzsche takes superior friendship to be possible but rare, since it requires its participants to balance three pairs of opposing qualities that are difficult to keep in equilibrium. Third, I will show that (...) Nietzsche takes friendship in its highest form to aim at a goal, appropriately named "truth." Here I draw upon both "middle-period" texts and Beyond Good and Evil, the latter to show that a concern for friendship pervades Nietzsche's oeuvre. Fourth, I show that Nietzsche differs most from ancient authors in his uncompromising insistence that if friendship is to serve truth rather than comfort or illusion, it is necessarily agonistic. A final section argues that if true friendship is to be nourished rather than destroyed by opposition, the virtue of "sympathy" must be present. Sympathy in Nietzsche's sense cannot be conflated with pity, since it is related to the "shared joy" that he identifies as the crown of friendship. (shrink)

In this paper, we explore Fregean metatheory, what Frege called the New Science. The New Science arises in the context of Frege’s debate with Hilbert over independence proofs in geometry and we begin by considering their dispute. We propose that Frege’s critique rests on his view that language is a set of propositions, each immutably equipped with a truth value (as determined by the thought it expresses), so to Frege it was inconceivable that axioms could even be considered to be (...) other than true. Because of his adherence to this view, Frege was precluded from the sort of metatheoretical considerations that were available to Hilbert; but from this, we shall argue, it does not follow that Frege was blocked from metatheory in toto. Indeed, Frege suggests in Die Grundlagen der Geometrie a metatheoretical method for establishing independence proofs in the context of the New Science. Frege had reservations about the method, however, primarily because of the apparent need to stipulate the logical terms, those terms that must be held invariant to obtain such proofs. We argue that Frege’s skepticism on this score is not warranted, by showing that within the New Science a characterization of logical truth and logical constant can be obtained by a suitable adaptation of the permutation argument Frege employs in indicating how to prove independence. This establishes a foundation for Frege’s metatheoretical method of which he himself was unsure, and allows us to obtain a clearer understanding of Frege’s conception of logic, especially in relation to contemporary conceptions. (shrink)

That the distinction is over-simple becomes apparent when attention is called to a fundamental difficulty attending any view that being is a single property, common to all the things which are. If being is one property among others, then the question must be raised as to the status of those other properties, insofar as they are or have natures of their own, distinct from being. Simply to have or to be a nature, a requirement for any property, is already to (...) be in some sense or other; yet each property must be in whatever sense this is for it, to contrast with the property of being. If the property of being can be contrasted with other properties, then both sides of the contrast must be in a more inclusive sense. (shrink)

In our society, some aspects of life are off-limits to commerce. We prohibit the selling of children and the buying of wives, juries, and kidneys. Tainted blood is an inevitable consequence of paying blood donors; even sophisticated laboratory tests cannot supplant the gift-giving relationship as a safeguard of the purity of blood. Like blood, health care is too precious, intimate, and corruptible to entrust to the market.The hospice movement in the United States is approximately 40 years old. During these past (...) four decades, the concept of holistic, multidisciplinary care for patients who are suffering from a terminal illness has evolved from a modest, grassroots constellation of primarily volunteer-run and community-governed endeavors to a multimillion dollar industry where the surviving nonprofits compete with for-profit providers, often publicly traded, managed by M.B.A.-trained executives, and governed by corporate boards. The relatively recent emergence of for-profit hospice reflects an increasing commercialization of health care in the United States, the potentially adverse impact of which has been well documented. (shrink)

Some of the most interesting works in virtue ethics are the detailed, perceptive treatments of specific virtues and vices. This chapter aims to develop such work as it relates to intellectual virtues and vices. It begins by examining the virtue of intellectual humility. Its strategy is to situate humility in relation to its various opposing vices, which include vices like arrogance, vanity, conceit, egotism, grandiosity, pretentiousness, snobbishness, haughtiness, and self-complacency. From this list vanity and arrogance are focused on in particular. (...) Humble persons are not distinguished from arrogant persons by being unaware of or unconcerned with entitlements; rather, they lack the arrogance that entails a specific kind of motivation called ‘ego-exalting potency’. Humble people are motivated by pure interests regarding entitlements given their ability to serve as means to some valuable purpose or project. The chapter ends by considering a wide variety of ways intellectual humility can promote the acquisition of epistemic goods. (shrink)

Defenders of physicalism often point to the reduction of chemistry to quantum physics as a paradigm for the reduction of the rest of reality to a microphysical foundation. This argument is based, however, on a misreading of the philosophical significance of the quantum revolution. A hylomorphic interpretation of quantum thermodynamics and chemistry, in which parts and wholes stand in a mutually determining relationship, better fits both the empirical facts and the actual practice of scientists. I argue that only a hylomorphic (...) interpretation of quantum mechanics is able to treat thermodynamic quantities, such as temperature and entropy, as genuinely real, which in turn provides grounds for the reality of the direction of time and of molecular structure. (shrink)

This book sets the record straight about the greater influence of Dilthey than Husserl in Heidegger’s initial formulation of his conception of phenomenology. Scharff shows how, in Heidegger’s early lecture courses, phenomenology is presented as a genuine philosophical alternative, and explores our own current need for a phenomenological philosophy.

Classically, gratitude is a tri-polar construal, logically ordering a benefactor, a benefice, and a beneficiary in a favour-giving-receiving situation. Grammatically, the poles are distinguished and bound together by the prepositions ”to’ and ”for’; so I call this classic concept ”to-for’ gratitude. Classic religious gratitude follows this schema, with God as the benefactor. Such gratitude, when felt, is a religious experience, and a reliable readiness or ”habit’ of such construal is a religious virtue. However, atheists have sometimes felt an urge or (...) need for an analogous experience and virtue of gratitude, and theists sometimes feel intellectual discomfort with classical theistic gratitude on consideration of the misfortunes that characterize our life along with its blessings. In response, another conception of religious gratitude has been attempted, a construal that lacks the to-for structure. This paper probes the significance of the benefactor for gratitude, both secular and religious, and, with Søren Kierkegaard’s help, some features of the theology of classical religious gratitude that dissolve the problem of misfortunes. (shrink)

There has been a long-standing debate about the relationship of predictability and determinism. Some have maintained that determinism implies predictability while others have maintained that predictability implies determinism. Many have maintained that there are no implication relations between determinism and predictability. This summary is, of course, somewhat oversimplified and quick at least in the sense that there are various notions of determinism and predictability at work in the philosophical literature. In this essay I will focus on what I take to (...) be the Laplacean vision for determinism and predictability. While many forms of predictability are inconsistent with this vision, I argue that a suitably restricted notion of predictability, consistent with the practice of physicists, is implied by the Laplacean notion of determinism. It is argued that limitations on predictability are of an in principle nature in the Appendix. (shrink)

Cognitive psychologists have uncovered a number of natural tendencies to systematic errors in thinking. This paper proposes some ways that intellectual character virtues might help correct these sources of epistemic unreliability. We begin with an overview of some insights from recent work in dual-process cognitive psychology regarding ‘biases and heuristics’, and argue that the dozens of hazards the psychologists catalogue arise from combinations and specifications of a small handful of more basic patterns of thinking. We expound four of these, and (...) sketch how they conspire to produce the myriad biases, heuristics, and illusions. We then offer accounts of two character virtues—self-vigilance and intellectual vitality—and explain how these virtues could help correct our error-prone thinking. The self-vigilant person appreciates her vulnerability to natural epistemic defects, is on the watch for cues to the working of these possible error-makers, and intelligently acts to correct for them. The intellectually vital person is naturally or has learned to be energetic, active, alert, attentive, and inquisitive, contrary to the natural tendency to cognitive laziness. We suggest that these intellectual virtues, like the moral virtues, will cluster in the personality, and will tend to be mutually reinforcing and mutually recruiting, even as each has its own corrective function. (shrink)

Government’s use of imprisonment raises distinctive moral issues. Even if government has broad authority to make and to enforce law, government may not be entitled to use imprisonment as a punishment for all the criminal laws it is entitled to make. Indeed, there may be some serious crimes that it is wrong to punish with imprisonment, even if the conditions of imprisonment are humane and even if no adequate alternative punishments are available.

The concept of contextual emergence is proposed as a non-reductive, yet welldefined relation between different levels of description of physical and other systems. It is illustrated for the transition from statistical mechanics to thermodynamical properties such as temperature. Stability conditions are crucial for a rigorous implementation of contingent contexts that are required to understand temperature as an emergent property. It is proposed that such stability conditions are meaningful for contextual emergence beyond physics as well.

In response to Frederick Schauer's book The Force of Law, I argue that the available evidence indicates that non-coercive law could influence many people's behavior. It may sometimes be best to forgo coercive enforcement of an important law.

Comprehensie collection of historical and contemporary philosophies of technology, including Plato, Aristotle, St. Simon, Comte, Marx, Heidegger, Mumford, Foucault.

Recent empirical work on the virtue of gratitude raises questions about the limits of that research and its methods to address normative questions about gratitude. I distinguish two kinds of norms for the emotion of gratitude—norms of genuineness and norms of excellence. I examine two kinds of empirical studies that aim to establish or contribute to the norms for gratitude: a so-called “prototype” approach, and a narrative vignettes approach, finding the latter far superior, and suggest various refinements that might improve (...) accuracy. The main emotion types, of which gratitude is an example, have a conceptual structure that must be reflected in any normative analysis, and is far better reflected in the vignettes approach. Ultimately, however, formulation of norms of genuineness and of virtue must come from one or another tradition of careful reflection and debate about such concepts as gratitude; and the representatives of such traditions are philosophers and theologians. (shrink)

The _Nicomachean Ethics_ is one of Aristotle’s most widely read and influential works. Ideas central to ethics—that happiness is the end of human endeavor, that moral virtue is formed through action and habituation, and that good action requires prudence—found their most powerful proponent in the person medieval scholars simply called “the Philosopher.” Drawing on their intimate knowledge of Aristotle’s thought, Robert C. Bartlett and Susan D. Collins have produced here an English-language translation of the _Ethics_ that is as remarkably (...) faithful to the original as it is graceful in its rendering. Aristotle is well known for the precision with which he chooses his words, and in this elegant translation his work has found its ideal match. Bartlett and Collins provide copious notes and a glossary providing context and further explanation for students, as well as an introduction and a substantial interpretive essay that sketch central arguments of the work and the seminal place of Aristotle’s _Ethics_ in his political philosophy as a whole. The _Nicomachean Ethics_ has engaged the serious interest of readers across centuries and civilizations—of peoples ancient, medieval, and modern; pagan, Christian, Muslim, and Jewish—and this new edition will take its place as the standard English-language translation. (shrink)

This paper clarifies the vice of pride by distinguishing it from emotions that are symptomatic of it and from virtuous dispositions that go by the same name, by identifying the disposition (humility) that is its virtue-counterpart, and by distinguishing its kinds. The analysis is aided by the conception of emotions as concern-based construals and the idea that pride can be a dispositional concern of a particular type or family of types.

Morality in Sport Sport continues to make its presence known throughout the world as it prospers at all levels. Amazingly, there is no end in sight to the popularity and growth of sport. Essential to sport's continued prosperity, growth, and overall livelihood is the sustenance of a firm moral base. It is the goal and hope of the author that you find this textbook to be a useful guide in helping you maintain and build upon the foundation of moral good (...) that is required for sport to exist now and in the future. The need to make good moral decisions in sport is constant. And, although opportunities to make such decisions in sport are seemingly endless, what is "moral" can be somewhat unclear. Given the various perspectives on morality and the lack of clear-cut distinctions between moral and immoral actions, disagreements regarding moral behavior and sport are likely to always exist. However, having a blatant disregard for good moral behavior in sport is difficult to defend from most any position. (shrink)

The current debate on “free agency” seems to highlight the romantic aspects of free agent and considers it a genuine response to changing economic conditions (e.g., high-unemployment rate, importance of knowledge in the labor market, the eclipse of organizational loyalty, and self pride). Little attention, if any, has been given to the religious root of the free agency concept and its persistent existence across history. In this paper, the current discourse on free agency and the conditions that have led to (...) its emergence are briefly discussed. The paper focuses on the theological perspectives of Judaism, Christianity, and Islam on the concept. Implications for management and business organizations are provided. (shrink)

The Endosomal Sorting Complexes Required for Transport (ESCRTs) drive membrane remodeling in a variety of cellular processes that include the formation of endosomal intralumenal vesicles (ILVs) during multivesicular body (MVB) biogenesis. During MVB sorting, ESCRTs recognize ubiquitin (Ub) attached to membrane protein cargo and execute ILV formation by controlling the activities of ESCRT‐III polymers regulated by the AAA‐ATPase Vps4. Exactly how these events are coordinated to ensure proper cargo loading into ILVs remains unclear. Here we discuss recent work documenting the (...) ability of Bro1, an ESCRT‐associated Ub‐binding protein, to coordinate ESCRT‐III and Vps4‐dependent ILV biogenesis with upstream events such as cargo recognition. (shrink)