Minsky proposed classifying firms in three categories: hedge finance units which borrow no more than they are able to service in interest and principal out of operating cash flows, speculative finance units which are overleveraged to the point where they can service interest on their debt out of operating cash flows, but cannot repay the principal, and thus must continually roll over their existing debt, and Ponzi finance units, whose operating cash flows are inadequate even to service interest on their (...) debt. In Minsky’s financial instability hypothesis protracted prosperity leads endogenously to firms overleveraging themselves and transforming a market dominated by hedge finance into one dominated by speculative and Ponzi finance. Since Ponzi finance units are forced to sell off assets to service their existing interest payments, once the market is sufficiently dominated by Ponzi finance units, this creates an oversupply of assets offered for sale, and the resulting debt deflation causes a financial crisis and drastic shortage of liquidity. It appears this crisis state can be brought about by a deceptively low critical mass of Ponzi and speculative finance units. This paper uses a large 2002–2009 quarterly data set of all publicly traded North American firms and foreign firms traded on North American exchanges, a total of 8,905 stocks. Financial ratios are used to classify these firms in each quarter according to Minsky’s FIH categories. Market value is used to weight the categories, and average betas are computed as measures of volatility. Results provide dramatic support for the FIH. The FIH is then reinterpreted in terms of Austrian business cycle theory, which depends on inflationary credit expansion to drive the unsustainable prosperity. According to Minsky’s FIH, unsustainable prosperity emerges endogenously as long periods of economic expansion make borrowers and lenders alike more willing to engage in investment activities for which they fail to see the inherent risk. It becomes clear that this process is amplified and exacerbated by credit expansion. Minsky’s FIH helps flesh out some of the missing dynamics of the malinvestment liquidation phase of ABC theory, and the two views turn out to be surprisingly complementary. (shrink)

This text presents a few preliminary results of research currently being conducted at the Université de Sherbrooke’s Research Institute on Educational Practices. The study seeks to understand how situations presented in teacher education can support the functioning and success of trainee teachers’ professional learning. The article’s aim is to identify the points of convergence between situations of professional activity, situations of professional learning, and training situations. The text will attempt to analyze the role that can be played by certain training (...) structures that seek to support a professionalization process that we define in terms of a general aim: the construction of professional knowledge. The originality of this research lies in that it draws on the work of Gaston Bachelard to develop a theoretical frame enabling a reading and interpretation of the results. Ce texte présente quelques résultats préliminaires d’une recherche menée présentement à l’Institut de recherche sur les pratiques éducatives de l’Université de Sherbrooke. Cette recherche vise à comprendre comment les situations présentes dans la formation à l’enseignement peuvent soutenir le fonctionnement et la réussite de l’apprentissage professionnel des enseignants en formation. Nous cherchons à identifier les points de rencontre entre les situations d’activité professionnelle, les situations d’apprentissage professionnel et les situations de formation. Nous tenterons d’analyser le rôle que peuvent jouer certains dispositifs visant à soutenir un processus de professionnalisation que nous définissons au regard d’une finalité : la construction de savoirs professionnels. L’originalité de cette recherche est la convocation des travaux de Gaston Bachelard pour élaborer le cadre théorique permettant la lecture et l’interprétation des résultats. (shrink)

Lire Heidegger, c'est relire autrement tout ce que nous lisons. Ce Cahier invite à mieux comprendre la pensée heideggérienne autours des thèmes principaux qu'il aborde.Des essais, témoignages et lettres retracent l'impacte de sa pensée dans la culture moderne.Textes de : Walter Biemel, Hans-Georg Gadamer, Ernst Jünger, Roger Munier, Carl Friedrich von Weizsäcker, Herbert Marcuse, Jean-Luc Marion, John Sallis, David Farrel Krell, Jean-François Courtine, Jean Beauffret, Dominique Janicaud, Otto Pöggeler, Jean-Louis Chrétien, Jean-Pierre Charcosset, F. Wybrands, Jacques Taminiaux, Hubert L. Dreyfus, (...) Marc Froment-Meurice, Jean-Michel Palmier, Reiner Schürmann, Jean-Marie Vaysse, Henri Birault, Jacques Derrida, Gérard Granel, Daniel Charles, Gabriel Liiceanu, Jean Greisch, René Gonner.Contient un choix de textes de Heidegger. (shrink)

A brief, radical defense of human uniqueness from acclaimed philosopher Roger Scruton In this short book, acclaimed writer and philosopher Roger Scruton presents an original and radical defense of human uniqueness. Confronting the views of evolutionary psychologists, utilitarian moralists, and philosophical materialists such as Richard Dawkins and Daniel Dennett, Scruton argues that human beings cannot be understood simply as biological objects. We are not only human animals; we are also persons, in essential relation with other persons, and bound (...) to them by obligations and rights. Our world is a shared world, exhibiting freedom, value, and accountability, and to understand it we must address other people face to face and I to I. Scruton develops and defends his account of human nature by ranging widely across intellectual history, from Plato and Averroës to Darwin and Wittgenstein. The book begins with Kant's suggestion that we are distinguished by our ability to say "I"—by our sense of ourselves as the centers of self-conscious reflection. This fact is manifested in our emotions, interests, and relations. It is the foundation of the moral sense, as well as of the aesthetic and religious conceptions through which we shape the human world and endow it with meaning. And it lies outside the scope of modern materialist philosophy, even though it is a natural and not a supernatural fact. Ultimately, Scruton offers a new way of understanding how self-consciousness affects the question of how we should live. The result is a rich view of human nature that challenges some of today's most fashionable ideas about our species. (shrink)

Effective Altruism is a social movement which encourages people to do as much good as they can when helping others, given limited money, time, effort, and other resources. This paper first identifies a minimal philosophical view that underpins this movement, and then argues that there is an analogous minimal philosophical view which might underpin Effective Justice, a possible social movement that would encourage promoting justice most effectively, given limited resources. The latter minimal view reflects an insight about justice, and our (...) non-diminishing moral reason to promote more of it, that surprisingly has gone largely unnoticed and undiscussed. The Effective Altruism movement has led many to reconsider how best to help others, but relatively little attention has been paid to the differences in degrees of cost-effectiveness of activities designed to decrease injustice. This paper therefore not only furthers philosophical understanding of justice, but has potentially major practical implications. (shrink)

This book is a fascinating and accessible summary of Roger Penrose's current thinking on those areas of physics in which he feels there are major...

Efforts to bring science into early 19th century breeding practices in Central Europe, organised from Brno, the Hapsburg city in which Mendel would later turn breeding experiments into a body of timeless theory, are here considered as a significant prelude to the great discovery. During those years prior to Mendel's arrival in Brno, enlightened breeders were seeking ways to regulate the process of heredity, which they viewed as a force to be controlled. Many were specialising in sheep breeding for the (...) benefit of the local wool industry while others were showing an interest in commercial plants, especially fruit trees and vines, and later cereals. Breeders explained their problems in regulating heredity in terms of climatic influences disruption due to crossing sports or saltations. Practical experience led them to the concepts of 'inheritance capacity' and the 'mutual elective affinity' of parents. The former was seen to differ among individuals and also among traits; the latter was proposed as a means of adding strength to heredity. The breeders came to recognise that traits might be hidden and yet transmitted as a 'potential' to future generations. They also grew to understand that heredity would be strengthened when a quality was 'fixed' within a lineage by 'pure blood relations.' Continued selection of the desired quality might then lead to 'a higher perfection.' But the ultimate 'physiological' question about breeding, 'what is inherited and how?,' found no answer. Major figures in this development included Abbot Napp, the one who asked this question and who was due to receive Mendel into the monastery in 1843, and Professor Diebl whose lectures on agriculture and natural science at the Brno Philosophical Institute Mendel would attend in 1846. Here we analyse their progress in theorizing about breeding up until about 1840. In discussing this development, we refer to certain international contacts, especially with respect to information transfer and scientific education, within the wider context of the late Enlightenment. (shrink)

This book recalls, for nonscientific readers, the history of quantum mechanics, the main points of its interpretation, and Einstein's objections to it, together with the responses engendered by his arguments. We point out that most popular discussions on the strange aspects of quantum mechanics ignore the fundamental fact that Einstein was correct in his insistence that the theory does not directly describe reality. While that fact does not remove these counterintuitive features, it casts them in a different light."--page vi.

One of the most important philosophers of recent times, Elizabeth Anscombe wrote books and articles on a wide range of topics, including the ground-breaking monograph Intention. Her work is original, challenging, often difficult, always insightful; but it has frequently been misunderstood, and its overall significance is still not fully appreciated. This book is the first major study of Anscombe's philosophical oeuvre. In it, Roger Teichmann presents Anscombe's main ideas, bringing out their interconnections, elaborating and discussing their implications, pointing out (...) objections and difficulties, and aiming to give a unified overview of her philosophy. Many of Anscombe's arguments are relevant to contemporary debates, as Teichmann shows, and on a number of topics what Anscombe has to say constitutes a powerful alternative to dominant or popular views. Among the writings discussed are Intention, "Practical Inference," "Modern Moral Philosophy," "Rules, Rights and Promises," "On Brute Facts," "The First Person," "The Intentionality of Sensation," "Causality and Determination," An Introduction to Wittgenstein's Tractatus, "The Question of Linguistic Idealism," and a number of other pieces, including some that are little known or hard to obtain. A complete bibliography of Anscombe's writings is also included. Ranging from the philosophy of action, through ethics, to philosophy of mind, metaphysics, and the philosophy of logic and language, this book is a study of one of the most significant bodies of work in modern philosophy, spanning more than fifty years, and as pertinent today as ever. (shrink)

What can fashionable ideas, blind faith, or pure fantasy possibly have to do with the scientific quest to understand the universe? Surely, theoretical physicists are immune to mere trends, dogmatic beliefs, or flights of fancy? In fact, acclaimed physicist and best-selling author Roger Penrose argues that researchers working at the extreme frontiers of physics are just as susceptible to these forces as anyone else. In this provocative book, he argues that fashion, faith, and fantasy, while sometimes productive and even (...) essential in physics, may be leading today's researchers astray in three of the field's most important areas--string theory, quantum mechanics, and cosmology... The result is an important critique of some of the most significant developments in physics today from one of its most eminent figures."--Jacket. (shrink)

Grâce aux œuvres, qui amplifient notre expérience du monde, des êtres et des choses qui le peuplent, nous découvrons que notre attention n'est pas uniforme dans ses accueils et ses inflexions, mais qu'elle se constelle autour de foyers. Certains de ces foyers sont établis, partagés. D'autres sont singuliers, labiles, résultats d'une élaboration subjective qui opère par rapprochements et découpages au sein des catégories artistiques, esthétiques, historiques. Le présent essai porte sur l'un de ces foyers, que le néologisme « intranquillité » (...) est venu nommer, autour duquel se groupent les écrits du poète portugais Fernando Pessoa et de ses « hétéronymes », une série de dessins réalisés par Tatiana Trouvé, la pensée poéthique selon Jean-Claude Pinson et le Monsieur Hulot de Jacques Tati. Il s'attache à restituer l'enquête menée auprès de ce foyer, afin d'éclairer les raisons de sa formation, et d'en dégager un sens susceptible, à son tour, d'être partagé. (shrink)

Early in the 1240s the University of Paris hired a recent graduate from Oxford, Roger Bacon by name, to teach the arts and introduce Aristotle to its curriculum. Along with eight sets of questions on Aristotle's natural works and the Metaphysics he claims to have authored another eight books before he returned to Oxford around 1247. Within the prodigious output of this period we find a treatise on logic titled Summulae dialectices, and it is this that is here annotated (...) and presented in translation. The book is unique in several respects. First, there is the breadth of its sources. Not only do we find explicit reference to the usual authors such as Aristotle, Plato, Boethius, Porphyry, Cicero, and Priscian, we also find unexpected reference to Augustine, Bernardus Silvestris, Donatus, Terence, and Themistius, along with mention of the Muslim philosophers Algazel and Ibn Rushd. Second, it is clear that Bacon is drawing on or reacting to an extraordinarily wide variety of medieval sources: Garland the Computist, Hugh of St. Victor, Master Hugo, Hugutius of Pisa, Isidore of Seville, Nicholas of Damas, Nicholas of Paris, Richard of Cornwall, Robert Kilwardby, Robert of Lincoln, and Robert the Englishman. Third, it unexpectedly presents a full-blown treatment of Aristotle's theory of demonstration. And finally, Bacon reveals a highly unorthodox view of the signification of common terms. Bacon, here, takes his students and us deeper into medieval sources and controversy than any of his rivals do. (shrink)

The Zhuangzi is a deliciously protean text: it is concerned not only with personal realization, but also with social and political order. In many ways the Zhuangzi established a unique literary and philosophical genre of its own, and while clearly the work of many hands, it is one of the finest pieces of literature in the classical Chinese corpus. It employs every trope and literary device available to set off rhetorically charged flashes of insight into the most unrestrained way to (...) live one's life, free from oppressive, conventional judgments and values. The essays presented here constitute an attempt by a distinguished community of international scholars to provide a variety of exegeses of one of the Zhuangzi's most frequently rehearsed anecdotes, often referred to as "the Happy Fish debate." The editors have brought together essays from the broadest possible compass of scholarship, offering interpretations that range from formal logic to alternative epistemologies to transcendental mysticism. Many were commissioned by the editors and appear for the first time. Some of them have been available in other languages—Chinese, Japanese, German, Spanish—and were translated especially for this anthology. And several older essays were chosen for the quality and variety of their arguments, formulated over years of engagement by their authors. All, however, demonstrate that the Zhuangzi as a text and as a philosophy is never one thing; indeed, it has always been and continues to be, many different things to many different people. (shrink)

The calculus of relations was created and developed in the second half of the nineteenth century by Augustus De Morgan, Charles Sanders Peirce, and Ernst Schröder. In 1940 Alfred Tarski proposed an axiomatization for a large part of the calculus of relations. In the next decade Tarski's axiomatization led to the creation of the theory of relation algebras, and was shown to be incomplete by Roger Lyndon's discovery of nonrepresentable relation algebras. This paper introduces the calculus of relations and (...) the theory of relation algebras through a review of these historical developments. (shrink)

This article is an edited transcript of the keynote session at the 16th annual Philosophy of Management conference in Oxford on 23 June 2024. The keynote took the form of a dialogue between Roger Crisp (Director of the Oxford Uehiro Centre for Practical Ethics and Professor of Moral Philosophy at the University of Oxford) and Chris Cowton (Emeritus Professor and former Dean of the Business School at the University of Huddersfield and formerly Associate Director of the Institute of Business (...) Ethics). The dialogue was facilitated by Nigel Laurie, formerly managing partner at London Facilitators and founder of the Philosophy of Management journal and the annual conference (Laurie and Cherry 2001). This dialogue joins a long-lasting conversation in the journal of Philosophy of Management on philosophy and its applications to management practice and theory (Eabrasu, 2023; Tsahuridu, 2023) by offering insightful personal perspectives especially as seen through institutional lenses. (shrink)

Roger Crisp presents a comprehensive study of Henry Sidgwick's The Methods of Ethics, a landmark work first published in 1874. Crisp argues that Sidgwick is largely right about many central issues in moral philosophy: the metaphysics and epistemology of ethics, consequentialism, hedonism about well-being, and the weight to be given to self-interest. He holds that Sidgwick's long discussion of 'common-sense' morality is probably the best discussion of deontology we have. And yet The Methods of Ethics can be hard to (...) understand, and this is perhaps one reason why, though it is a philosophical goldmine, few have ventured deeply into it. What does Sidgwick mean by a 'method'? Why does he discuss only three methods? What are his arguments for hedonism and for utilitarianism? How can we make sense of the idea of moral intuition? What is the role of virtue in Sidgwick's ethics? Crisp addresses these and many other questions, offering a fresh view of Sidgwick's text which will assist any moral philosopher to gain more from it. (shrink)

If Mary believes a bone is on the lawn, then she literally believes that, though her belief may be mistaken. But, if her pet Fido rushes up to what is in fact a bit of bone-shaped plastic, then Fido does not believe that there is a bone on the lawn. However, the best explanation for Fido’s behavior may be that he initially believed there was a bone on the lawn. Unless we are methodological or analytical behaviorists, the claim that we (...) can best explain the behavior of dumb animals by treating them as if they literally held beliefs subject to various rationality constraints is hardly surprising. I argue that this instrumentalism does not support the realist view that dumb animals are literally to be credited with beliefs. In particular, I focus on Davidson’s argument that a creature can have beliefs only if it can be the interpreter of the speech of another. Davidson’s argument, which has not won wide acceptance, is the most subtle examination to date of the relation between belief and language. I examine the premises of his argument, indicate two major criticisms, and attempt to defend his conclusion that dumb animals lack beliefs by adducing supporting arguments. (shrink)

In this lucid and engaging introductory volume on the nature of society, Roger Trigg examines the scientific basis of social science and shows that philosophical presuppositions are a necessary starting point for the study of society.

This dissertation is based on the compositional model theoretic approach to natural language semantics that was initiated by Montague (1970) and developed by subsequent work. In this general approach, coordination and negation are treated following Keenan & Faltz (1978, 1985) using boolean algebras. As in Barwise & Cooper (1981) noun phrases uniformly denote objects in the boolean domain of generalized quanti®ers. These foundational assumptions, although elegant and minimalistic, are challenged by various phenomena of coordination, plurality and scope. The dissertation solves (...) these problems by developing a ¯exible process of meaning composition, as ®rst proposed by Partee & Rooth (1983). Flexible interpretation involves semantic operations without any phonological counterpart, which participate in the interpretation process and change meanings of overt expressions. The dissertation introduces a novel ¯exible system where a small number of operations describe the behaviour of complex phenomena such as `non-boolean' and, the scope of inde®nites and the semantics of collectivity with quanti®cational NPs. The proposed theory is based on a distinction between two features of meanings in natural language. (shrink)

I argue that Descartes and the Cartesians are likely in agreement that logic is an ars cogitandi whose aim is to perfect the ingenium by the exercise of its operations: ideating, judging, discoursing, and ordering. We can see that these elements are the underpinning of both the Regulae and the Discourse on Method, and thus, like Adrien Baillet and others in the seventeenth century, we can understand these two works as embodying Descartes’ “logic,” despite Descartes’ notorious anti-logic Renaissance rhetoric in (...) both writings. (shrink)

_Ideas of Human Nature_ presents twelve of the most influential Western thinkers on the topic of human nature. Roger Trigg examines the thinkers in their historical context and discusses their relevance to contemporary controversies.

L'intérêt des sciences humaines pour les rapports entre TIC, langues et savoirs n'est pas nouveau. Cependant l'intelligibilité d'une construction épistémologique des relations reste un domaine en friche dans le contexte de la mondialisation. Le présent article essaie de s'en prendre à ce vide épistémologique en interrogeant particulièrement les enjeux des langues africaines dans le travail de structuration et de dissémination du savoir global et des savoirs locaux. Ces savoirs, chacun à sa manière, tentent de se construire un statut nouveau en (...) s'insérant dans les divers marchés de la connaissance. Pour cela, ils tirent profit du renouvellement des thématiques occidentales vis-à-vis des consommateurs africains d'information scientifique. En conséquence, des politiques de productivité et de circularité des savoirs s'érigent dans des stratégies d'uniformisation épistémologique. Parallèlement, la mode de la «diversité linguistique et culturelle», censée protéger les langues et savoirs locaux, risque de les transformer en de simples objets ethnographiques.The interest of the humanities to the relationship between ICT and language knowledge is not new. However, the intelligibility of a construction epistemological relations remains a fallow field in the context of globalization. This article tries to take this empty epistemological questioning particularly the issues of African languages ​​in the work of structuring and dissemination of global knowledge and local knowledge. This knowledge, in their own way, trying to build a new status by inserting themselves into the various markets for knowledge. For this, they benefit from the renewal of western themed vis-à-vis African consumers of scientific information. As a result, productivity and political knowledge circularity themselves up in uniform epistemological strategies. Meanwhile, the fashion of the "linguistic and cultural diversity," intended to protect indigenous knowledge and languages, may turn them into mere ethnographic objects. (shrink)

Volume 20, Issue 7, July 2020, Page 114-116.

Reid thought that testimony possesses positive epistemic value. Epistemic autonomy is not necessarily the royal road to truth; nor is credulity a systematic epistemic fault and indeed, it can be an intellectual virtue. Even though the notion of epistemic virtue does not explicitly appear in Reid’s epistemology, it seems inherent to his views that what will give a heteronomous agent exercising the social operations of the mind the best chance to acquire and develop true beliefs is the epistemic virtues that (...) permit her to recognize reliable authorities. This is why it seems to me possible to associate Reid with to the virtue epistemology tradition. (shrink)

‘To translate’ means quite literally ‘to carry across, to bring across,’ that is, ‘to remove from one place to another.’ The questions I want to address in this essay are: To what extent have we been successful in, first, understanding the Chinese philosophical narrative and, then, in ‘carrying it across’ into the western academy? To what extent have we been able to grow and ‘appreciate’ our own philosophical parameters by engaging with this antique tradition? The self-conscious strategy of translation, then, (...) must be to go beyond word-for-word translation and attempt to enable students of Chinese philosophy to read the seminal texts by providing them with a means of developing their own sophisticated understanding of a set of critical Chinese philosophical terms. The premise is that there is no real alternative but to cultivate a nuanced familiarity with the key Chinese vocabulary itself. It is in this effort to take Chinese philosophy on its own terms, then, that we must begin from the interpretive context by taking into account the tradition’s own indigenous presuppositions and its own evolving self-understanding. We must be aware of the ambient, persistent assumptions that have given the Chinese philosophical narrative its unique identity over time. (shrink)

The following is an edited version of Roger Penrose's lecture at the Fifth Mind and Brain Symposium at the Institute of Psychiatry, London, on 29 October 1994, introducing the themes of his recent book Shadows of the Mind. The talk begins by outlining some options for the modelling of the relationship between consciousness and computation, and provides evidence for a model in which it is not possible even in principle to simulate mathematical understanding computationally. It is argued that mathematical (...) understanding is on a continuum with consciousness in general, and that non-computability is a feature of all consciousness. The talk then goes on to outline some of the problems of the relationship between quantum and classical physics and proposes a new theory of `objective reduction' by quantum gravity to bridge the explanatory gap. The talk concludes by examining cytoskeletal microtubules as a possible site for quantum-coherent events in the brain. It is suggested that this might be the physical basis of conscious events. (shrink)

In 2012–13, we signed up for Facebook in seven Middle East and North Africa countries and used Facebook advertisements to encourage young people to participate in our survey. Nearly 18,000 individuals responded. Some of the questions in our survey dealing with attitudes about women’s work and cosmetics were adopted from a survey conducted by the Frankfurt School in 1929 in Germany. The German survey had shown that a great number of men, irrespective of their political affiliation harbored highly authoritarian attitudes (...) toward women and that one sign of authoritarianism was men’s attitude toward cosmetics and women’s employment. We wanted to know if the same was true of the contemporary MENA. Our results suggest that lipstick and makeups as well as women’s employment are not just vehicles for sexual objectification of women. In much of MENA world a married woman’s desire to work outside the house, and her pursuit of the accoutrement of beauty and sexual attractiveness, are forms of gender politics, of women’s empowerment, but also of antiauthoritarianism and liberal politics. Our results also suggest that piety among Muslims per se is not an indicator of authoritarianism and that there is a marked gender difference in authoritarianism. Women, it seems, are living a different Islam than men. (shrink)