ABSTRACT Asset‐market bubbles occur dependably in laboratory experiments and almost as reliably throughout economic history—yet they do not usually bring the global economy to its knees. The Crash of 2008 was caused by the bursting of a housing bubble of unusual size that was fed by a massive expansion of mortgage credit—facilitated, in turn, by the longest sustained expansionary monetary policy of the past half century. Much of this mortgage credit was extended to people with little net wealth who made (...) slender down payments, so that when the bubble burst and housing prices declined, their losses quickly exceeded their equity. These losses were transmitted to the financial system—including banks, investment banks, insurance companies, and the institutional and private investors who provided liquidity to the mortgage market through structured securities. It seems that many of these institutions became insolvent; it is certain that they became illiquid. Liquidity loss and solvency fears created a feedback cycle of diminished financing, reduced housing demand, falling housing prices, more borrower losses, and further damage to the financial system and eventually the stock market and the real economy. There are important parallels with the housing and financial‐market booms that led up to the Crash of 1929 and the Great Depression. (shrink)

Leibniz in Paris -- Philosophy on the Left Bank -- Le Grand Arnauld -- Theodicy -- The kingdoms of nature and grace -- Touch the mountains and they smoke -- The eternal truths -- The specter of Spinoza.

Leibniz in Paris -- Philosophy on the Left Bank -- Le Grand Arnauld -- Theodicy -- The kingdoms of nature and grace -- "Touch the mountains and they smoke" -- The eternal truths -- The specter of Spinoza.

In this remarkably accessible, concise, and engaging introduction to moral philosophy, Steven M. Cahn brings together a rich, balanced, and wide-ranging collection of fifty readings on ethical theory and contemporary moral issues. He has carefully edited all the articles to ensure that they will be exceptionally clear and understandable to undergraduate students. The selections are organized into three parts--Challenges to Morality, Moral Theories, and Moral Problems--providing instructors with flexibility in designing and teaching a variety of ethics courses. Each reading (...) is followed by study questions. The third edition of Exploring Ethics provides more coverage of contemporary problems, featuring new selections on euthanasia, capital punishment, animal rights, affirmative action, academic ethics, the trolley problem, and the meaning of life. A Companion Website at www.oup.com/us/cahn offers a password-protected Instructor's Manual--containing a test bank, key terms with definitions, reading summaries, and PowerPoint lectures--and self-quizzes, vocabulary flashcards, and useful links for students. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Elegia i.3 PROPERTIUS Translated by Steven J.Willett Just as she lay when Theseus’ keel was sliding seaward, the Cnossian maid languid on the desolate shore; just as Cepheus’ daughter reclined in her first slumber, Andromeda, now freed from jagged rocks; just as the Thracian bacchant, weary from incessant dancing, slumps on the grassy bank of the Apidanus; even so Cynthia seemed to breathe a soft repose, her head (...) pillowed on open unruly hands, when I came dragging footsteps wobbly with too much wine, the boys waving burnt-out torches in the late night. Against her I tried, not all my senses utterly derelict, to advance gently on the compliant couch; and, though seized by a double ardor—each was commanding me, love here and wine there, both implacable gods— to assault her by slipping my arm lightly beneath her body and with a hand advanced take kisses and arms, yet I lacked the courage to shatter my mistress’ repose, fearing the brawls whose savagery I’d tasted; so I remained standing there motionless with rapt eyes, like Argus at the strange sight of Io’s horns. And now I was untying the garlands from my forehead and placing them, Cynthia, around your temples; and now I was finding it pleasant to smooth your fallen tresses; then I was giving you stolen apples in hollow palms; but I was lavishing all these gifts on ungrateful sleep, gifts that often tumbled from your sloping lap; and every time you heaved a sigh stirring fitfully, arion 28.2 fall 2020 98 elegia 1.3 I froze, foolishly credulous of an empty sign, fearful that some dream was bringing you strange terrors, or some man was forcing you reluctantly to be his: until the moon drifting across the opposite windows, the meddling moon whose eyes incline to linger, drew her closely-lidded eyes open under its delicate beams. Then, her elbow propped on the soft couch, she asked: “Has another’s rejection finally brought you back to my bed, chucked out with the doors slammed in your face? Where have you squandered the long hours of my night, languid, alas for me, as the stars are waning? Oh, I pray that you may endure, you beast, such nights as you are always making poor me to suffer! Just now I was cheating sleep with purple yarn at the loom, and then, exhausted, with song on Orpheus’ lyre; and sometimes, quite desolate, I softly complained to myself of the long waits your outside loves often cost me. Till sleep with gentle wings brushed me down to oblivion. That was the last concern of all my tears.”... (shrink)

This article aims to investigate the impact of employee perceptions of corporate social responsibility on job embeddedness under the drastic circumstances of coronavirus disease 2019. This study also investigated the role of organizational identification as a psychological mechanism linking employee perceptions of corporate social responsibility to job embeddedness. Survey data were collected from 325 employees in banking industry of China and analyzed using partial least squares structural equation modeling. Results revealed that CSR to employees and organizational identification were positively and (...) significantly related to job embeddedness, while CSR to customers, CSR to government, and CSR to society did not significantly predict job embeddedness. Organizational identification fully mediated the relationship between CSR to customers, CSR to government, CSR to society and job embeddedness, and partially mediated the relationship between CSR to employees and job embeddedness. The results suggest engaging in CSR activities can lead employees to identify themselves with the organization and enhance their embeddedness. The article concludes with several implications for practice and recommendations for future research. (shrink)

BackgroundThis paper discusses the contentious issue of reuse of stored biological samples and data obtained from research participants in past clinical research to answer future ethical and scientifically valid research questions. Many countries have regulations and guidelines that guide the use and exportation of stored biological samples and data. However, there are variations in regulations and guidelines governing the reuse of stored biological samples and data in Sub-Saharan Africa including Malawi.DiscussionThe current research ethics regulations and guidelines in Malawi do not (...) allow indefinite storage and reuse of biological samples and data for future unspecified research. This comes even though the country has managed to answer pertinent research questions using stored biological samples and data. We acknowledge the limited technical expertise and equipment unavailable in Malawi that necessitates exportation of biological samples and data and the genuine concern raised by the regulatory authorities about the possible exploitation of biological samples and data by researchers. We also acknowledge that Malawi does not have bio-banks for storing biological samples and data for future research purposes. This creates room for possible exploitation of biological samples and data collected from research participants in primary research projects in Malawi. However, research ethics committees require completion and approval of material transfer agreements and data transfer agreements for biological samples and data collected for research purposes respectively and this requirement may partly address the concern raised by the regulatory authorities. Our concern though is that there is no such requirement for biological samples and data collected from patients for clinical or diagnostic purposes.SummaryIn conclusion, we propose developing a medical data and material transfer agreement for biological samples and data collected from patients for clinical or diagnostic purposes in both public and private health facilities that may end up in research centers outside Malawi. We also propose revision of the current research ethics regulations and guidelines in Malawi in order to allow secondary use of biological samples and data collected from primary research projects as a way of maximizing the use of collected samples and data. Finally, we call for consultation of all stakeholders within the Malawi research community when regulatory authorities are developing policies that govern research in Malawi. (shrink)

In this article, we look at the contested role of in-house lawyers in regulated organisations in the financial sector. A recent Financial Conduct Authority consultation on whether to designate the head of legal of banks, insurance companies and other financial firms as ‘Senior Managers’ and the decision which flowed from it, reflected a flawed view of lawyers as a neutral technocracy of mere legal technicians; we show how the FCA’s decision is potentially damaging to the public interest and failed to (...) take into account that in-house lawyers are often important decision-makers and influencers within their organisations. We put the case for an alternative view; that in-house lawyers are professionals, with agency that requires them to act in accordance with ethical norms and means they should be made more accountable for their conduct. (shrink)

Although Darwin insisted that human intelligence could be fully explained by the theory of evolution, the codiscoverer of natural selection, Alfred Russel Wallace, claimed that abstract intelligence was of no use to ancestral humans and could only be explained by intelligent design. Wallace’s apparent paradox can be dissolved with two hypotheses about human cognition. One is that intelligence is an adaptation to a knowledge-using, socially interdependent lifestyle, the “cognitive niche.” This embraces the ability to overcome the evolutionary fixed defenses of (...) plants and animals by applications of reasoning, including weapons, traps, coordinated driving of game, and detoxification of plants. Such reasoning exploits intuitive theories about different aspects of the world, such as objects, forces, paths, places, states, substances, and other people’s beliefs and desires. The theory explains many zoologically unusual traits in Homo sapiens, including our complex toolkit, wide range of habitats and diets, extended childhoods and long lives, hypersociality, complex mating, division into cultures, and language (which multiplies the benefit of knowledge because know-how is useful not only for its practical benefits but as a trade good with others, enhancing the evolution.. (shrink)

The young women had survived the car crash, after a fashion. In the five months since parts of her brain had been crushed, she could open her eyes but didn't respond to sights, sounds or jabs. In the jargon of neurology, she was judged to be in a persistent vegetative state. In crueler everyday language, she was a vegetable.

In this paper I argue against Brandom's two-ply theory of action. For Brandom, action is the result of an agent acknowledging a practical commitment and then causally responding to that commitment by acting. Action is social because the content of the commitment upon which one acts is socially conferred in the game of giving and asking for reasons. On my proposal, instead of seeing action as the coupling of a rational capacity to acknowledge commitments and a non-rational capacity to reliably (...) respond to these commitments, we should see action as the coupling, or potential coupling, of a capacity to reason practically and a capacity to act on habits and bodily skills. In putting forward this alternative model of action, I aim to replace Brandom's rationalist brand of Pragmatism with a more classical kind, one that will let us see action as social not only at the level of reasons but also at the level of bodily habits and skills. (shrink)

he relationship between metaphysics and science has recently become the focus of increased attention. Ladyman and Ross, in particular, have accused even naturalistically inclined metaphysicians of pursuing little more than the philosophy of A-level chemistry and have suggested that analytic metaphysics should simply be discontinued. In contrast, we shall argue, first of all, that even metaphysics that is disengaged from modern science may offer a set of resources that can be appropriated by philosophers of physics in order to set physics (...) within an interpretational framework. Secondly, however, we shall urge that insofar as metaphysics is intended to be more than just a toolbox it needs to accommodate the implications of physics if many of its core claims are to be sustained. We shall illustrate this last point with a discussion of the nature of laws and modality in the context of modern physics. (shrink)

v. 1. A doctrine of divine illumination -- v. 2. God at the core of cognition.

Hans Reichenbach, a philosopher of science who was one of five students in Einstein's first seminar on the general theory of relativity, became Einstein's bulldog, defending the theory against criticism from philosophers, physicists, and popular commentators. This book chronicles the development of Reichenbach's reconstruction of Einstein's theory in a way that clearly sets out all of its philosophical commitments and its physical predictions as well as the battles that Reichenbach fought on its behalf, in both the academic and popular press. (...) The essays include reviews and responses to philosophical colleagues; polemical discussions with physicists Max Born and D. C. Miller; as well as popular articles meant for the layperson. At a time when physics and philosophy were both undergoing revolutionary changes in content and method, this book is a window into the development of scientific philosophy and the role of the philosopher. (shrink)

This book provides a comprehensive collection of readings with an ontological emphasis. Topics include abstracta - properties, numbers, and propositions, secondary qualities, and concreta - events.

Some elementary properties of tachyons are described and then it is argued that the claim that (T) Tachyons exist, is incompatible with the truth of the Special Theory of Relativity (STR). First it is argued that from T, STR, and the negation of the principle that (Pl) Effect never precedes cause, one can derive a paradoxical conclusion, one of the so-called "causal paradoxes". An obvious response is to affirm (Pl), but then it is argued that (Pl) and (T) entail that (...) STR is false. (shrink)

Do dogs live in the same world as humans? Is it wrong to think dogs have personalities and emotions? What are dogs thinking and what’s the nature of canine wisdom? This is a book for thoughtful dog-lovers who want to explore the deeper issues raised by dogs and their relationships with humans. Twenty philosophers and dog-lovers reveal their experiences with dogs and give their insights on dog-related themes of metaphysics and ethics.

The promise of language in the depths of hell: Primo Levi's Canto of Ulysses and Inferno -- The difference between difference and otherness: Il milione of Marco Polo and Calvino's Le città invisibili -- Traces of the Confucian/Mencian other: ethical moments in Sima Qian's Records of the historian -- War and the Hellenic splendor of knowing: Euripides, Hölderlin, Celan -- The saying, the said, and the betrayal of mercy in Shakespeare's Merchant of Venice -- Nom de dieu, quelle race: the (...) saying, the said, and the betrayal of charity in Mongo Beti's Le pauvre Christ de Bomba -- Transcendent divinity and human responsibility in Mahfouz: "zaabalawi" and children of our alley -- That you might have my witness in your poem: Valéry, the symbolist tradition, and Edgar Bowers' later blank verse. (shrink)

Most evidence for the role of regular inflection as a default operation comes from languages that confound the morphological properties of regular and irregular forms with their phonological characteristics. For instance, regular plurals tend to faithfully preserve the base’s phonology, whereas irregular nouns tend to alter it. The distinction between regular and irregular inflection may thus be an epiphenomenon of phonological faithfulness. In Hebrew noun inflection, however, morphological regularity and phonological faithfulness can be distinguished: Nouns whose stems change in the (...) plural may take either a regular or an irregular suffix, and nouns whose stems are preserved in the plural may take either a regular or an irregular suffix. We use this dissociation to examine two hallmarks of default inflection: its lack of dependence on analogies from similar regular nouns, and its application to nonroots such as names. We show that these hallmarks of regularity may be found whether or not the plural form preserves the stem faithfully: People apply the regular suffix to novel nouns that don’t resemble existing nouns, and to names that sound like irregular nouns, regardless of whether the stem is ordinarily preserved in the plural of that family of nouns. Moreover, when they pluralize names, they do not apply the stem changes that are found in their homophonous nouns, replicating an effect found in English and German. These findings show that the distinction between regular and irregular phenomena cannot be reduced to differences in the kinds of phonological changes associated with those phenomena in English. Instead, regularity and irregularity must be distinguished in terms of the kinds of mental computations that effect them: symbolic operations versus memorized idiosyncrasies. A corollary is that complex words are not generally dichotomizable as “regular” or “irregular”; different aspects of a word may be regular or irregular depending on whether they violate the rule for that aspect and hence must be stored in memory.. (shrink)

For better or for worse, I find myself in the company of the `misers' of Galen Strawson's portrayal who, in response to the question, `Is there such a thing as the self?' rejoin: `Well, there is something of which the sense of the self is an accurate representation, but it does not follow that there is any such thing as the self'. Far from representing a form of `metaphysical excess', the rejoinder seems faithfully and reliably phenomenological. We need not assume (...) that reflection is mere fabrication, or that it crucially distorts the thematic posit that funds our sense of self. The focus, recognition and contextual sensitivity that condition perception may, and admittedly do, limit and modify the activity of reflection as well. Observation disturbs the observed. And likewise, reflection may well compromise its object. But the product of this `compromise', the object as disturbed, the reflective posit as distorted, is nonetheless `there', for reflection. If the way a given object appears to us is a function of our perspectival insertion into the visible world, we need not deny that the world still appears to us in just this way. And analogously, our `sense of self' may represent -- in fact, faithfully represent -- the resultant `distortion', but it would be a breach of logic to infer from this that our `sense of self' therefore represents a self untouched by distortion, an independent, `undistorted' self. Indeed, if reflection distorts, we would have no reflective access to an undistorted self, and would thus have no phenomenological warrant for assuming its existence. Pace Strawson, however, the `something' represented by our `sense of self' is not some thing. It is not `as much a thing or object as any... grain of salt', but rather, as we shall see, an atmospheric haze, or at best, an adventitious `sheen'. (shrink)