Interest in the notion of the possible financial sacrifice suffered by socially responsible investment (SRI) fund investors for considering ethical, social and environmental issues in their investment decisions has spawned considerable academic interest in the performance of SRI funds. Both the Australian and international research literature have yielded largely mixed results. However, several of these studies are hampered by methodological problems which can obscure the significance of reported results, such as the use of small sample sizes, inconsistencies in the time (...) frames selected to analyse performance and different modelling frameworks used to estimate investment returns. This study attempts to redress some of these issues by investigating the returns performance of 89 ethical funds in Australia over the period 1986-2005. Using a multi-factor CAPM model [Fama, E. F., and K. R. French (1996) J. Finance 51(1), 55] (which controls for factors such as size, book-to-market value and momentum) we find that ethical funds significantly under-perform the market in Australia, particularly in the most recent 5 years of our sample period (2000-2005). Risk adjusted returns (using Jensen's alpha) indicate that average annual underperformance is around 1.52% in the 2000-2005 period for our sample and .88% over the whole sample period. Our results contrast with many previous studies (both Australian and international), which have not found statistically significant differences in the performance of ethical funds relative to market benchmarks and/or a matched sample of conventional funds. (shrink)

Presents a plethora of approaches to developing human potential in areas not conventionally addressed. Organized in two parts, this international collection of essays provides viable educational alternatives to those currently holding sway in an era of high-stakes accountability.

Summary This article approaches post-war debates about the relationship between normative political theory and empirical political science from a French perspective. It does so by examining Raymond Aron's commentaries on a series of articles commissioned by him for a special issue of the Revue française de science politique on this theme as well as through an analysis of his wartime dialogue with the neo-Thomist philosopher, Jacques Maritain. Following a consideration of Aron's critique of contemporary approaches to this issue in France, (...) we discuss his own distinctive attempt to draw normative theory and empirical science into the same orbit by tracing the interaction of these two elements in his work from the late 1930s to the mid-1960s. (shrink)

This book presents a collection of contemporary discourses that reconsider the relationship of democracy as a political ideology and American ideal and education as the foundation of preparing democratic citizens in America.

It is widely thought among philosophers that Joseph Butler's criticism of psychological egoism in his Sermons is, in the words of A.E. Duncan-Jones, 'the classic refutation of it.' Indeed, no less a philosopher than David Hume restated and put forth Butler's central argument against hedonistic egoism - without due credit - as part of his own critique. Yet recent commentators have begun to question Butler's arguments, albeit usually with sympathy and in the hope of saving what they take to (...) be his insights. I propose to focus on Butler's main objection to hedonistic psychological egoism, to show how and why it fails to refute plausible forms of the thesis, and briefly to indicate why philosophical attempts to disprove this theory of motivation are misguided. (shrink)

This paper is an attempt to reflect on our relative proximity and remoteness to Nazi perpetrators of evil by examining what Bernard Williams has called the problem of “moral luck.” Such situational factors as genetics, class, race/ethnicity, religion, political upheavals and special nurturing relationships provide us with what John Rawls has called the “starting points” of our lives as emergent adults and moral agents. For skeptics like Williams, though, it is unclear that either “saint” or “sinner” has the requisite moral (...) responsibility we take them ordinarily to have, given such situational luck. This paper responds to such skepticism by sketching a version of “compatibilism” that helps itself to insights from recent virtue theory in ethics and functionalism in cognitive science. A major part of this response is a discussion of Chapter 6 of David H. Jones’ important study, Moral Responsibility in the Holocaust, where he argues that Hitler was to blame for the evil he perpetrated because he was responsible for becoming the person he was through an active project of self-deception. Of particular concern here will be how we can use a functionalist account of mind, virtue/vice and compatibilism to understand the phenomenon of a moral agent engaged in an active project of self-deception. At stake here is, of course, our own proximity to such agency. (shrink)

Enth.: Dugoald Stewart's account of Adam Smith / ed. by I.S. Ross.

As much a portrait of his time as a biography of the man, Karl Marx: Greatness and Illusion returns the author of Das Kapital to his nineteenth-century world, before twentieth-century inventions transformed him into Communism’s patriarch and fierce lawgiver. Gareth Stedman Jones depicts an era dominated by extraordinary challenges and new notions about God, human capacities, empires, and political systems—and, above all, the shape of the future. In the aftermath of the Battle of Waterloo, a Europe-wide argument began about (...) the industrial transformation of England, the Revolution in France, and the hopes and fears generated by these occurrences. Would the coming age belong to those enthralled by the revolutionary events and ideas that had brought this world into being, or would its inheritors be those who feared and loathed it? Stedman Jones gives weight not only to Marx’s views but to the views of those with whom he contended. He shows that Marx was as buffeted as anyone else living through a period that both confirmed and confounded his interpretations—and that ultimately left him with terrible intimations of failure. Karl Marx allows the reader to understand Marx’s milieu and development, and makes sense of the devastating impact of new ways of seeing the world conjured up by Kant, Hegel, Feuerbach, Ricardo, Saint-Simon, and others. We come to understand how Marx transformed and adapted their philosophies into ideas that would have—through twists and turns inconceivable to him—an overwhelming impact across the globe in the twentieth century. (shrink)

Since virtually every mathematical theory can be interpreted in Zermelo-Fraenkel set theory, it is a foundation for mathematics. There are other foundations, such as alternate set theories, higher-order logic, ramified type theory, and category theory. Whether set theory is the right foundation for mathematics depends on what a foundation is for. One purpose is to provide the ultimate metaphysical basis for mathematics. A second is to assure the basic epistemological coherence of all mathematical knowledge. A third is to serve mathematics, (...) by lending insight into the various fields and suggesting fruitful techniques of research. A fourth purpose of a foundation is to provide an arena for exploring relations and interactions between mathematical fields. While set theory does better with regard to some of these and worse with regard to others, it has become the de facto arena for deciding questions of existence, something one might expect of a foundation. Given the different goals, there is little point to determining a single foundation for all of mathematics. (shrink)

I argue that epistemologists’ use of the term ‘epistemic’ has led to serious confusion in the discussion of epistemological issues. The source of the problem is that ‘epistemic’ functions largely as an undefined technical term. I show how this confusion has infected discussions of the nature of epistemic justification, epistemic norms for evidence gathering, and knowledge norms for assertion and belief.

We examine George Boolos's proposed abstraction principle for extensions based on the limitation-of-size conception, New V, from several perspectives. Crispin Wright once suggested that New V could serve as part of a neo-logicist development of real analysis. We show that it fails both of the conservativeness criteria for abstraction principles that Wright proposes. Thus, we support Boolos against Wright. We also show that, when combined with the axioms for Boolos's iterative notion of set, New V yields a system equivalent to (...) full Zermelo-Fraenkel set theory with a principle of global choice. This advances Boolos's longstanding interest in the foundations of set theory. (shrink)

Call a bit of scientific discourse a description of a missing system when (i) it has the surface appearance of an accurate description of an actual, concrete system (or kind of system) from the domain of inquiry, but (ii) there are no actual, concrete systems in the world around us fitting the description it contains, and (iii) that fact is recognised from the outset by competent practitioners of the scientific discipline in question. Scientific textbooks, classroom lectures, and journal articles abound (...) with such passages; and there is a widespread practice of talking and thinking as though there are systems which fit the descriptions they contain perfectly, despite the recognition that no actual, concrete systems do so—call this the face value practice. There are, furthermore, many instances in which philosophers engage in the face value practice whilst offering answers to epistemological and methodological questions about the sciences. Three questions, then: (1) How should we interpret descriptions of missing systems? (2) How should we make sense of the face value practice? (3) Is there a set of plausible answers to (1) and (2) which legitimates reliance on the face value practice in our philosophical work, and can support the weight of the accounts which are entangled with that practice? In this paper I address these questions by considering three answers to the first: that descriptions of missing systems are straightforward descriptions of abstract objects, that they are indirect descriptions of “property-containing” abstracta, and that they are (in a different way) indirect descriptions of mathematical structures. All three proposals are present in the literature, but I find them wanting. The result is to highlight the importance of developing a satisfactory understanding of descriptions of missing systems and the face value practice, to put pressure on philosophical accounts which rely on the practice, and to help us assess the viability of certain approaches to thinking about models, theory structure, and scientific representation. (shrink)

Neuroscience investigates how neuronal processing circuits work, but it has problems explaining experiences this way. For example, it hasn’t explained how colour and shape circuits bind together in visual processing, nor why colours and other qualia are experienced so differently yet processed by circuits so similarly, nor how to get from processing circuits to pictorial images spread across inner space. Some theorists turn from these circuits to their electromagnetic fields to deal with such difficulties concerning the mind’s qualia, unity, privacy, (...) and causality. They include Kohler, Libet, Popper, Lindahl, Arhem, Charman, Pockett, John, McFadden, Fingelkurts, Maxwell, and Jones. They’re classifiable as computationalist, reductionist, dualist, realist, interactionist, epiphenomenalist, globalist, and localist. However, they’ve never been analysed together as a whole, which hinders evaluations of them. This article tries to rectify this. It concludes that while field theories face challenges, they aren’t easily dismissed, for they draw on considerable evidence and may avoid serious problems in neuroscience concerning the mind’s qualia, unity, causality, and ontology. (shrink)

I apply some of Gash’s interpretation of radical constructivism to an analogous critique of naïve realism in contemporary philosophy of education. It explores the significant potential in ….

The Pursuit of Existentialism explores how Existentialism has survived and how its key themes and concerns remain integral to continental philosophy today. The Pursuit of Existentialism places the creation of Existentialism - in the work of Sartre, Camus and Beauvoir - in its historical context, assessing how it drew on the work of Nietzsche and Kierkegaard. The book then goes on to focus on the complex heritage of post-Sartrean thinking from Heidegger to today. Theorists and schools covered include: Heidegger's infamous (...) critique of existentialism; (the dissident surrealists÷ from Bataille to Blanchot; feminist thinking from Arendt to Kristeva; postmodernist theorising from Baudrillard and Lyotard; psychoanalytic thinking from Lacan and Zizek; and deconstructive and political philosophy from Derrida and Badiou. (shrink)

Second-language learners rarely arrive at native proficiency in a number of linguistic domains, including morphological and syntactic processing. Previous approaches to understanding the different outcomes of first- versus second-language learning have focused on cognitive and neural factors. In contrast, we explore the possibility that children and adults may rely on different linguistic units throughout the course of language learning, with specific focus on the granularity of those units. Following recent psycholinguistic evidence for the role of multiword chunks in online language (...) processing, we explore the hypothesis that children rely more heavily on multiword units in language learning than do adults learning a second language. To this end, we take an initial step toward using large-scale, corpus-based computational modeling as a tool for exploring the granularity of speakers' linguistic units. Employing a computational model of language learning, the Chunk-Based Learner, we compare the usefulness of chunk-based knowledge in accounting for the speech of second-language learners versus children and adults speaking their first language. Our findings suggest that while multiword units are likely to play a role in second-language learning, adults may learn less useful chunks, rely on them to a lesser extent, and arrive at them through different means than children learning a first language. (shrink)

Inquiries into the nature of scientific modeling have tended to focus their attention on mathematical models and, relatedly, to think of nonconcrete models as mathematical structures. The arguments of this article are arguments for rethinking both tendencies. Nonmathematical models play an important role in the sciences, and our account of scientific modeling must accommodate that fact. One key to making such accommodations, moreover, is to recognize that one kind of thing we use the term ‘model’ to refer to is a (...) collection of propositions. (shrink)

An option for Business Ethics course offered in business schools or in philosophy departments, this text balances the perspectives of business and philosophy in the cases and readings. The focus of this text is on the benefits of good corporate conduct to the companies who practice good business ethics.

The essays collected in 'The Hegel Myths and Legends' serve the function of disabusing students and nonspecialists of these misconceptions by exposing these myths for what they are.

I contrast two solutions to the lottery paradox concerning knowledge: contextualism and subject-sensitive invariantism. I defend contextualism against an objection that it cannot explain how 'knows' and its cognates function inside propositional attitude reports. I then argue that subject-sensitive invariantism fails to provide a satisfactory resolution of the paradox.

In the early years of the eighteenth century Leibniz had several interactions with John Toland. These included, from 1702 to 1704, discussions of materialism. Those discussions culminated with the consideration of Toland's 1704 Letters to Serena, where Toland argued that matter is necessarily active. In this paper I argue for two main theses about this exchange and its consequences for our wider understanding. The first is that, despite many claims that Toland was at the time of Letters to Serena a (...) Spinozist, we can make better sense of him as a sort of Hobbesian materialist. The second main point concerns reasons for materialism, and in particular a story Locke tells in the Essay about materialists' motives. Toland defends his materialism by arguing that matter is active, and argues that matter is active by using a conceivability argument. But this is not the crude conceivability argument that Locke suggests motivates materialists. This (together with reflecting on some of Hobbes's arguments) suggests that we might well tell a Lockean story about reasons for early modern materialism, but not Locke's story. (shrink)

We contribute to the literature on ethics in the professions by theorizing how global mobility precipitates professional insecurity and constrained moral agency. We present our findings of a study of accountants migrating to Canada. Using postcolonial theory and relational/poststructuralist theories of identity and ethics, we contrast the experiences of marginalized and privileged migrant accountants to show how those with “diverse” social identities are not recognized by professionals in Canada and must seek recognition from Canadian colleagues, employers, and clients to reconstitute (...) their professional identities and moral agency. We discuss the implications of the exclusion and marginalization of professionals for migrants, the profession, and society more generally. (shrink)

Amid the unrest, dislocation, and uncertainty of seventeenth-century Europe, readers seeking consolation and assurance turned to philosophical and scientific books that offered ways of conquering fears and training the mind—guidance for living a good life. _The Good Life in the Scientific Revolution_ presents a triptych showing how three key early modern scientists, René Descartes, Blaise Pascal, and Gottfried Leibniz, envisioned their new work as useful for cultivating virtue and for pursuing a good life. Their scientific and philosophical innovations stemmed in (...) part from their understanding of mathematics and science as cognitive and spiritual exercises that could create a truer mental and spiritual nobility. In portraying the rich contexts surrounding Descartes’ geometry, Pascal’s arithmetical triangle, and Leibniz’s calculus, Matthew L. Jones argues that this drive for moral therapeutics guided important developments of early modern philosophy and the Scientific Revolution. (shrink)

This paper critically evaluates the effect of introducing markets into the institutional system of education and promotes the claim of a learning democracy to underpin a richer conception for developing the powers and capacities of all citizens.