A theoretical physicist and feminist theorist, Karen Barad elaborates her theory of agential realism, a schema that is at once a new epistemology, ontology, and ethics.

We frequently speak of certain things or phenomena being built out of or based in others. Making Things Up concerns these relations, which connect more fundamental things to less fundamental things: Karen Bennett calls these 'building relations'. She aims to illuminate what it means to say that one thing is more fundamental than another.

In the ninth century BCE, the peoples of four distinct regions of the civilized world created the religious and philosophical traditions that have continued to nourish humanity to the present day: Confucianism and Daoism in China, Hinduism and Buddhism in India, monotheism in Israel, and philosophical rationalism in Greece. Later generations further developed these initial insights, but we have never grown beyond them. Rabbinic Judaism, Christianity, and Islam, for example, were all secondary flowerings of the original Israelite vision. Now, in (...) The Great Transformation , Karen Armstrong reveals how the sages of this pivotal “Axial Age” can speak clearly and helpfully to the violence and desperation that we experience in our own times. Armstrong traces the development of the Axial Age chronologically, examining the contributions of such figures as the Buddha, Socrates, Confucius, Jeremiah, Ezekiel, the mystics of the Upanishads, Mencius, and Euripides. All of the Axial Age faiths began in principled and visceral recoil from the unprecedented violence of their time. Despite some differences of emphasis, there was a remarkable consensus in their call for an abandonment of selfishness and a spirituality of compassion. With regard to dealing with fear, despair, hatred, rage, and violence, the Axial sages gave their people and give us, Armstrong says, two important pieces of advice: first there must be personal responsibility and self-criticism, and it must be followed by practical, effective action. In her introduction and concluding chapter, Armstrong urges us to consider how these spiritualities challenge the way we are religious today. In our various institutions, we sometimes seem to be attempting to create exactly the kind of religion that Axial sages and prophets had hoped to eliminate. We often equate faith with doctrinal conformity, but the traditions of the Axial Age were not about dogma. All insisted on the primacy of compassion even in the midst of suffering. In each Axial Age case, a disciplined revulsion from violence and hatred proved to be the major catalyst of spiritual change. (shrink)

Recently much has been made of the grounding relation, and of the idea that it is intimately tied to fundamentality. If A grounds B, then A is more fundamental than B (though not vice versa ), and A is ungrounded if and only if it is fundamental full stop—absolutely fundamental. But here is a puzzle: is grounding itself absolutely fundamental?

There are many different meanings of sustainability and precaution and no evident connection between the new normative concepts and the traditional moral theories. We seek an ethical basis for sustainability and precaution—a common framework that can serve as a means of resolving the conceptual ambiguities of the new normative concepts and the conflicts between new and traditional moral concepts and theories. We employ a systemic approach to analyze the past and possible future extension of ethics and establish an inclusive framework (...) of ethical extension. This framework forms the basis for what we call a systemic ethic. (shrink)

A variety of relations widely invoked by philosophers—composition, constitution, realization, micro-basing, emergence, and many others—are species of what I call ‘building relations’. I argue that they are conceptually intertwined, articulate what it takes for a relation to count as a building relation, and argue that—contra appearances—it is an open possibility that these relations are all determinates of a common determinable, or even that there is really only one building relation.

This book discusses the notion that quantum gravity may represent the "breakdown" of spacetime at extremely high energy scales. If spacetime does not exist at the fundamental level, then it has to be considered "emergent", in other words an effective structure, valid at low energy scales. The author develops a conception of emergence appropriate to effective theories in physics, and shows how it applies (or could apply) in various approaches to quantum gravity, including condensed matter approaches, discrete approaches, and loop (...) quantum gravity. (shrink)

The basic form of the exclusion problem is by now very, very familiar. 2 Start with the claim that the physical realm is causally complete: every physical thing that happens has a sufficient physical cause. Add in the claim that the mental and the physical are distinct. Toss in some claims about overdetermination, give it a stir, and voilá—suddenly it looks as though the mental never causes anything, at least nothing physical. As it is often put, the physical does all (...) the work, and there is nothing left for the mental to do. (shrink)

A lot of people believe that distinct objects can occupy precisely the same place for the entire time during which they exist. Such people have to provide an answer to the 'grounding problem' – they have to explain how such things, alike in so many ways, nonetheless manage to fall under different sortals, or have different modal properties. I argue in detail that they cannot say that there is anything in virtue of which spatio-temporally coincident things have those properties. However, (...) I also argue that this may not be as bad as it looks, and that there is a way to make sense of the claim that such properties are primitive. (shrink)

To what degree can language be acquired from linguistic input alone? This question has vexed scholars for millennia and is still a major focus of debate in the cognitive science of language. The complexity of human language has hampered progress because studies of language–especially those involving computational modeling–have only been able to deal with small fragments of our linguistic skills. We suggest that the most recent generation of Large Language Models (LLMs) might finally provide the computational tools to determine empirically (...) how much of the human language ability can be acquired from linguistic experience. LLMs are sophisticated deep learning architectures trained on vast amounts of natural language data, enabling them to perform an impressive range of linguistic tasks. We argue that, despite their clear semantic and pragmatic limitations, LLMs have already demonstrated that human-like grammatical language can be acquired without the need for a built-in grammar. Thus, while there is still much to learn about how humans acquire and use language, LLMs provide full-fledged computational models for cognitive scientists to empirically evaluate just how far statistical learning might take us in explaining the full complexity of human language. (shrink)

The recent drastic development of agriculture, together with the growing societal interest in agricultural practices and their consequences, pose a challenge to agricultural science. There is a need for rethinking the general methodology of agricultural research. This paper takes some steps towards developing a systemic research methodology that can meet this challenge – a general self-reflexive methodology that forms a basis for doing holistic or (with a better term) wholeness-oriented research and provides appropriate criteria of scientific quality.From a philosophy of (...) research perspective,science is seen as an interactive learning process with both a cognitive and a social communicative aspect. This means, first of all,that science plays a role in the world that it studies. A science that influences its own subject area, such as agricultural science, is named a systemic science. From this perspective, there is a need to reconsider the role of values in science. Science is not objective in the sense of being value-free.Values play, and ought to play, an important role in science – not only in form of constitutive values such as the norms of good science, but also in the form of contextual values that enter into the very process of science. This goes against the traditional criterion of objectivity. Therefore, reflexive objectivity is suggested as a new criterion for doing good science, along with the criterion of relevance. Reflexive objectivity implies that the communication of science must include the cognitive context, which comprises the societal,intentional, and observational context. Ina ccordance with this, the learning process of systemic research is shown as a self-reflexive cycle that incorporates both an involved actor stance and a detached observer stance. The observer stance forms the basis for scientific communication.To this point, a unitary view of science as a learning process is employed. A second important perspective for a systemic research methodology is the relation between the actual,different, and often quite separate kinds of science. Cross-disciplinary research is hampered by the idea that reductive science is more objective, and hence more scientific, than the less reductive sciences of complex subject areas – and by the opposite idea that reductive science is necessarily reductionistic. Taking reflexive objectivity as a demarcator of good science, an inclusive framework of science can be established. The framework does not take the established division between natural, social, and human science as a primary distinction of science.The major distinction is made between the empirical and normative aspects of science,corresponding to two key cognitive interests.Two general methodological dimensions, the degree of reduction of the research world and the degree of involvement in the research world, are shown to span this framework. The framework can form a basis for transdisciplinary work by way of showing the relation between more and less reductive kinds of science and between more detached and more involved kinds of science and exposing the abilities and limitations attendant on these methodological differences. (shrink)

The paper is an extended discussion of what I call the ‘dismissive attitude’ towards metaphysical questions. It has three parts. In the first part, I distinguish three quite different versions of dismissivism. I also argue that there is little reason to think that any of these positions is correct about the discipline of metaphysics as a whole; it is entirely possible that some metaphysical disputes should be dismissed and others should not be. Doing metametaphysics properly requires doing metaphysics first. I (...) then put two particular disputes on the table to be examined in the rest of the paper: the dispute over whether composite objects exist, and the dispute about whether distinct objects can be colocated. In the second part of the paper, I argue against the claim that these disputes are purely verbal disputes. In the third part of the paper, I present a new version of dismissivism, and argue that it is probably the correct view about the two disputes in question. They are not verbal disputes, and the discussion about them to date has not remotely been a waste of time. At this stage, however, our evidence has run out. I argue that neither side of either dispute is simpler than the other, and that the same objections in fact arise against both sides. (For example, the compositional nihilist does not in fact escape the problem of the many, and the one-thinger does not in fact escape the grounding problem.). (shrink)

How much of philosophical, scientific, and political thought is caught up with the idea of continuity? What if it were otherwise? This paper experiments with the disruption of continuity. The reader is invited to participate in a performance of spacetime (re)configurings that are more akin to how electrons experience the world than any journey narrated though rhetorical forms that presume actors move along trajectories across a stage of spacetime (often called history). The electron is here invoked as our host, an (...) interesting body to inhabit (not in order to inspire contemplation of flat-footed analogies between ‘macro’ and ‘micro’ worlds, concepts that already presume a given spatial scale), but a way of thinking with and through dis/continuity – a dis/orienting experience of the dis/jointedness of time and space, entanglements of here and there, now and then, that is, a ghostly sense of dis/continuity, a quantum dis/continuity. There is no overarching sense of temporality, of continuity, in place. Each scene diffracts various temporalities within and across the field of spacetimemattering. Scenes never rest, but are reconfigured within, dispersed across, and threaded through one another. The hope is that what comes across in this dis/jointed movement is a felt sense of différance, of intra-activity, of agential separability – differentiatings that cut together/apart – that is the hauntological nature of quantum entanglements. (shrink)

I think that there is an awful lot wrong with the exclusion problem. So, it seems, does just about everybody else. But of course everyone disagrees about exactly _what_ is wrong with it, and I think there is more to be said about that. So I propose to say a few more words about why the exclusion problem is not really a problem after all—at least, not for the nonreductive physicalist. The genuine _dualist_ is still in trouble. Indeed, one of (...) my main points will be that the nonreductive physicalist is in a rather different position vis à vis the exclusion problem than the dualist is. Properly understanding nonreductive physicalism—and clearly recognizing that it is, after all, a form of _physicalism_—goes a long way toward solving the exclusion problem. (shrink)

This collection brings together fourteen contributions by authors from around the globe. Each of the contributions engages with questions about how local and global bioethical issues are made to be comparable, in the hope of redressing basic needs and demands for justice. These works demonstrate the significant conceptual contributions that can be made through feminists' attention to debates in a range of interrelated fields, especially as they formulate appropriate responses to developments in medical technology, global economics, population shifts, and poverty.

I argue that it is intuitive and useful to think about composition in the light of the familiar functionalist distinction between role and occupant. This involves factoring the standard notion of parthood into two related notions: being a parthood slot and occupying a parthood slot. One thing is part of another just in case it fills one of that thing's parthood slots. This move opens room to rethink mereology in various ways, and, in particular, to see the mereological structure of (...) a composite as potentially outreaching the individual entities that are its parts. I sketch one formal system that allows things to have individual entities as parts multiple times over. This is particularly useful to David Armstrong, given Lewis's charge that his structural universals must do exactly that. I close by reflecting upon the nature and point of formal mereology. (shrink)

Relationships between current theories, and relationships between current theories and the sought theory of quantum gravity (QG), play an essential role in motivating the need for QG, aiding the search for QG, and defining what would count as QG. Correspondence is the broad class of inter-theory relationships intended to demonstrate the necessary compatibility of two theories whose domains of validity overlap, in the overlap regions. The variety of roles that correspondence plays in the search for QG are illustrated, using examples (...) from specific QG approaches. Reduction is argued to be a special case of correspondence, and to form part of the definition of QG. Finally, the appropriate account of emergence in the context of QG is presented, and compared to conceptions of emergence in the broader philosophy literature. It is argued that, while emergence is likely to hold between QG and general relativity, emergence is not part of the definition of QG, and nor can it serve usefully in the development and justification of the new theory. (shrink)

Concerns about ‘mental causation’ are concerns about how it is possible for mental states to cause anything to happen. How does what we believe, want, see, feel, hope, or dread manage to cause us to act? Certain positions on the mind-body problem—including some forms of physicalism—make such causation look highly problematic. This entry sketches several of the main reasons to worry, and raises some questions for further investigation.

What do we do when a beloved comedian known as "America's Dad" is convicted of sexual assault? Or when we discover that the man who wrote "all men are created equal" also enslaved hundreds of people? Or when priests are exposed as pedophiles? From the popular to the political to the profound, each day brings new revelations that respected people, traditions, and institutions are not what we thought they were. Despite the shock that these disclosures produce, this state of affairs (...) is anything but new. Facing the concrete task of living well when our best moral resources are not only contaminated but also potentially corrupting is an enduring feature of human experience. In this book, Karen V. Guth identifies "tainted legacies" as a pressing contemporary moral problem and ethical challenge. Constructing a typology of responses to compromised thinkers, traditions, and institutions, she demonstrates the relevance of age-old debates in Christian theology for those who confront legacies tarnished by the traumas of slavery, racism, and sexual violence. (shrink)

History of women philosophers in Australia delivered as part of a series of of lectures on many aspects of philosophy in Australia.

Two versions of global supervenience have recently been distinguished from each other. I introduce a third version, which is more likely what people had in mind all along. However, I argue that one of the three versions is equivalent to strong supervenience in every sense that matters, and that neither of the other two versions counts as a genuine determination relation. I conclude that global supervenience has little metaphysically distinctive value.

Sir Ernst Gombrich and the Barber from Tuscany In the spirit of Sir Ernst Gombrich, this essay uses an anecdote—a chat between Gombrich and a barber from Tuscany—to illustrate a deeper point, namely, how cultural memory, tradition, and a canon give rise to an implied language of culture and cultural value. Gombrich staunchly defended tradition against relativism. By relativism, he meant something like "radical subjectivism." To his mind, subjectivism (in the cultural and social sense of the term) is not only (...) impossible, since meaning is conferred through culture and society, but it is also dangerous (in the cultural and ethical sense of the term), since it denies the existence of shared values. Against consensus on the one hand and radical subjectivism on the other, Gombrich advocated a middle way: criticism and self-criticism to ensure latitude; the search for "truth" to ensure a limited plurality of interpretations. (shrink)

Recent defenses of shaming as an effective tool for identifying bad practice and provoking social change appear compatible with feminism. I complicate this picture by examining two instances of online feminist shaming that resulted in shame backlashes. Shaming requires the assertion of social and epistemic authority on behalf of a larger community, and is dependent upon an audience that will be receptive to the shaming testimony. In cases where marginally situated knowers attempt to “shame up,” it presents challenges for feminist (...) uses. (shrink)

In times of crisis, when current theories are revealed as inadequate to task, and new physics is thought to be required—physics turns to re-evaluate its principles, and to seek new ones. This paper explores the various types, and roles of principles that feature in the problem of quantum gravity as a current crisis in physics. I illustrate the diversity of the principles being appealed to, and show that principles serve in a variety of roles in all stages of the crisis, (...) including in motivating the need for a new theory, and defining what this theory should be like. In particular, I consider: the generalised correspondence principle, UV-completion, background independence, and the holographic principle. I also explore how the current crisis fits with Friedman’s view on the roles of principles in revolutionary theory-change, finding that while many key aspects of this view are not represented in quantum gravity, the view could potentially offer a useful diagnostic, and prescriptive strategy. This paper is intended to be relatively non-technical, and to bring some of the philosophical issues from the search for quantum gravity to a more general philosophical audience interested in the roles of principles in scientific theory-change. (shrink)

Feelings of gratitude toward the natural environment are problematic because gratitude seems to be an appropriate response to someone’s intentional decision to benefit us, and ecosystems that sustain human life do not choose to do so. In accordance with one defense of the rationality and appropriateness of gratitude toward nature, intentional action can be regarded as not being a necessary condition for feelings of gratitude. Instead, gratitude toward an entity can be considered both rational and appropriate when (1) that entity (...) is the source of a valuable and unearned benefit and (2) the benefit did not result from some accidental and/or regrettable feature of that entity’s character. According to this analysis, we can provide a rational ground for gratitude to particular ecosystems by citing the valuable and unearned benefits that we receive from those systems and by demonstrating that these benefits result from elements within the ecosystems that are neither regrettable nor accidental. (shrink)

Analogue experiments have attracted interest for their potential to shed light on inaccessible domains. For instance, ‘dumb holes’ in fluids and Bose–Einstein condensates, as analogues of black holes, have been promoted as means of confirming the existence of Hawking radiation in real black holes. We compare analogue experiments with other cases of experiment and simulation in physics. We argue—contra recent claims in the philosophical literature—that analogue experiments are not capable of confirming the existence of particular phenomena in inaccessible target systems. (...) As they must assume the physical adequacy of the modelling framework used to describe the inaccessible target system, arguments to the conclusion that analogue experiments can yield confirmation for phenomena in those target systems, such as Hawking radiation in black holes, beg the question. (shrink)

Over 700,000 copies of the original hardcover and paperback editions of this stunningly popular book have been sold. Karen Armstrong's superbly readable exploration of how the three dominant monotheistic religions of the world—Judaism, Christianity, and Islam—have shaped and altered the conception of God is a tour de force. One of Britain's foremost commentators on religious affairs, Armstrong traces the history of how men and women have perceived and experienced God, from the time of Abraham to the present. From classical (...) philosophy and medieval mysticism to the Reformation, the Enlightenment, and the modern age of skepticism, Armstrong performs the near miracle of distilling the intellectual history of monotheism into one compelling volume. (shrink)

I argue that dualism does not help assuage the perceived explanatory failure of physicalism. I begin with the claim that a minimally plausible dualism should only postulate a small stock of fundamental phenomenal properties and fundamental psychophysical laws: it should systematize the teeming mess of phenomenal properties and psychophysical correlations. I then argue that it is dialectically odd to think that empirical investigation could not possibly reveal a physicalist explanation of consciousness, and yet can reveal this small stock of fundamental (...) phenomenal properties and psychophysical laws. I go on to consider a couple of different forms the dualist's laws could take, and argue that one version makes no progress on the hard problem of consciousness, and the other replaces the hard problem with a different problem that is just as hard. (shrink)

This work provides a comprehensive introduction to Asian ethics, covering Hinduism, Buddhism, Zen Buddhism, Taoism and Confucianism. Each chapter comprises historical background, essential ethical themes or topics, primary sources and more.

In seeking an answer to the question of what it means for a theory to be fundamental, it is enlightening to ask why the current best theories of physics are not generally believed to be fundamental. This reveals a set of conditions that a theory of physics must satisfy in order to be considered fundamental. Physics aspires to describe ever deeper levels of reality, which may be without end. Ultimately, at any stage we may not be able to tell whether (...) we've reached rock bottom, or even if there is a base level – nevertheless, I draft a checklist to help us identify when to stop digging, in the case where we may have reached a candidate for a final theory. Given that the list is – according to (current) mainstream belief in high-energy physics – complete, and each criterion well-motivated, I argue that a physical theory that satisfies all the criteria can be assumed to be fundamental in the absence of evidence to the contrary (i.e., I argue that the necessary conditions are jointly sufficient for a claim of fundamentality in physics). (shrink)

Principles are central to physical reasoning, particularly in the search for a theory of quantum gravity, where novel empirical data are lacking. One principle widely adopted in the search for QG is ultraviolet completion: the idea that a theory should hold up to all possible high energies. We argue— contra standard scientific practice—that UV-completion is poorly motivated as a guiding principle in theory-construction, and cannot be used as a criterion of theory-justification in the search for QG. For this, we explore (...) the reasons for expecting, or desiring, a UV-complete theory, as well as analyse how UV-completion is used, and how it should be used, in various specific approaches to QG. 1Introduction 1.1Principles in theory development and evaluation 2Primer on UV-Completion, Renormalizability, and All That 2.1Renormalizability and UV-completion 2.2Other forms of UV-completion 3Why Should QG Be UV-Complete? 3.1UV-completion and fundamentality 3.2UV-completion and minimal length 4UV-Completion in Different Approaches to QG 4.1String theory 4.2Asymptotic safety 4.3Causal dynamical triangulation 4.4Higher derivative approaches 4.5Supergravity 4.6Causal set theory 4.7Canonical QG 4.8Loop quantum gravity 4.9Approaches based on alternative gravitational theories 4.10Emergent gravity approaches 5UV-Completion as a Guiding Principle in QG 6Conclusion. (shrink)

I offer a novel solution to the problem of counterfactual skepticism: the worry that all contingent counterfactuals without explicit probabilities in the consequent are false. I argue that a specific kind of contextualist semantics and pragmatics for would- and might-counterfactuals can block both central routes to counterfactual skepticism. One, it can explain the clash between would- and might-counterfactuals as in: If you had dropped that vase, it would have broken. and If you had dropped that vase, it might have safely (...) quantum tunneled to China. Two, it can explain why counterfactuals like can be true despite the fact that quantum tunneling worlds are among the most similar worlds. I further argue that this brand of contextualism accounts for the data better than other existing solutions to the problem. (shrink)

I argue for the claim in the title. Along the way, I also address an independently interesting question: what is metaphysics, anyway? I think that the typical characterizations of metaphysics are inadequate, that a better one is available, and that the better one helps explain why metaphysics is no more problematic than the rest of philosophy.

Bernard Linsky and Edward Zalta have recently proposed a new form of actualism. I characterize the general form of their view and the motivations behind it. I argue that it is not quite new – it bears interesting similarities to Alvin Plantinga’s view – and that it definitely isn’t actualist.

Actualists routinely characterize their view by means of the slogan, “Everything is actual.” They say that there aren’t any things that exist but do not actually exist—there aren’t any “mere possibilia.” If there are any things that deserve the label ‘possible world’, they are just actually existing entities of some kind—maximally consistent sets of sentences, or maximal uninstantiated properties, or maximal possible states of affairs, or something along those lines. Possibilists, in contrast, do think that there are mere possibilia, that (...) there are things that are not actual. They think that more exists than what actually exists. All I have done so far, though, is rephrase the slogan in various ways. To say that everything is actual is precisely to say that there are no things that do not actually exist, which is precisely to say that there are no mere possibilia, and which is also precisely to say that we cannot sep- arately quantify over what exists and what is actual. These claims all amount to the same thing. But what is that, exactly? What on earth does it mean to say that everything is actual, that there are no mere possibilia, and so on? What does the actualist slogan really come to? I think the literature is far from clear on this point, and that people work themselves into unnecessary muddles because of it. Indeed, certain confusions that I shall discuss in the first half of this article seem to be on the rise. It is high time to lay out the issues and the choice points as clearly as possible. There are two primary choices to be made; there are two axes along which versions of actualism can vary. One choice has to do with how to treat claims about things that merely could exist. The other choice has to do with the modal status of the view and of how we should think about the “actual” in actualism. I make no claim that the positions I will eventually endorse are star- tlingly new. I think that most people will agree with the decisions I make at both choice points and will in fact find some bits of this essay obvious. But not everyone agrees with my decisions, and it has been my experience that people differ remarkably about which bits they find obvious—a fact I find rather telling. My goal, then, is to show that the two axes are there and to clarify the consequences of the choices. (shrink)

Within physics there are two ways of establishing the relative fundamentality of one theory compared to another, via two senses of reduction: "inter-level" and "intra-level" (Crowther, 2018). The former is standardly recognised as roughly correlating with the chain of ontological dependence (i.e., the phenomena described by theories of macro-physics are typically supposed to be ontologically dependent on the entities/behaviour described by theories of micro-physics), and thus has been of interest to naturalised metaphysics. The latter, though, has not been considered interesting (...) for metaphysics, because it is not thought to correlate either with ontological dependence, nor causal or dynamical dependence. I argue, however, that this is a mistake, and that actually, the intra-level relation does reflect ontological dependence (in the same sense as the inter-level relation) and thus should not be neglected by metaphysics of physics. This argument further supports the assertion that the same notion of fundamentality underlies both the inter- and intra-level claims of fundamentality in physics, and that this notion of relative fundamentality in physics correlates with that of metaphysics. (shrink)

The numerous and diverse roles of theory reduction in science have been insufficiently explored in the philosophy literature on reduction. Part of the reason for this has been a lack of attention paid to reduction2 (successional reduction)—although I here argue that this sense of reduction is closer to reduction1 (explanatory reduction) than is commonly recognised, and I use an account of reduction that is neutral between the two. This paper draws attention to the utility—and incredible versatility—of theory reduction. A non-exhaustive (...) list of various applications of reduction in science is presented, some of which are drawn from a particular case-study, being the current search for a new theory of fundamental physics. This case-study is especially interesting because it employs both senses of reduction at once, and because of the huge weight being put on reduction by the different research groups involved; additionally, it presents some unique uses for reduction—revealing, I argue, the fact that reduction can be of specialised and unexpected service in particular scientific cases. The paper makes two other general findings: that the functions of reduction that are typically assumed to characterise the different forms of the relation may instead be understood as secondary consequences of some other roles; and that most of the roles that reduction plays in science can actually also be fulfilled by a weaker relation than (the typical understanding of) reduction. (shrink)

To date, research into socially responsible investment (SRI), and in particular the socially responsible investment funds industry, has focused on whether investing in SRI assets has any differential impact on investor returns. Prior findings generally suggest that, on a risk-adjusted basis, there is no difference in performance between SRI and conventional funds. This result has led to questions about whether SRI funds are really any different from conventional funds. This paper examines whether the portfolio allocation across industry sectors and the (...) stock-picking ability of SRI managers are different when compared to conventional fund managers. The study finds that SRI funds exhibit different industry betas consistent with different portfolio positions, but that these differences vary from year to year. It is also found that there is little difference in stock-picking ability between the two groups of fund managers. (shrink)