This article responds to Professor Romano’s piece in this issue. It concerns our ongoing debate with regard to the desirability of permitting issuers to choose the securities regulation regime by which they are bound. Romano favors issuer choice, arguing that it would result in jurisdictional competition to offer issuers share value maximizing regulations. I, in contrast, believe that abandoning the current mandatory system of federal securities disclosure would likely lower, not increase, U.S. welfare. Each issuer, I argue, would select a (...) regime requiring a level of disclosure less than is socially optimal because its private costs of disclosure would be greater than the social costs of such disclosure. Professor Romano and I agree on most of the basic analytic building blocks for deciding whether issuer choice is a desirable reform: belief in analyzing the problem in terms of the broadly accepted principles of modern financial economics; recognition that disclosure has costs as well as benefits; and acknowledgment that incentives exist for issuers to provide at least some disclosure. We nevertheless reach the opposite conclusion on the desirability of issuer choice. To start, Romano believes that issuers’ private costs of disclosure will not generally be greater than the social costs of such disclosure, whereas I show they will be. Romano argues as well that this is a special case in which any divergence of private and social costs that does exist will not lead to a market failure, at least one possibly correctable by public regulation. I show her argument to be unpersuasive. Finally, Romano interprets the existing empirical evidence as proving mandatory disclosure’s lack of social value, while I show that the evidence in fact does not point in either direction. Where, as here, the theoretical case for the existence of a market failure is strong and the current program for dealing with it is widely admired, the advocate of change should have the burden of proof. Professor Romano has not met this burden. If she is serious about advancing her proposal for issuer choice, she needs to show that despite the market failure inherent in issuer choice, there is inevitably an even greater failure in the regulatory response. Absent such a showing, mandatory disclosure should be retained. (shrink)

In this paper I examine and reply to a deflationary challenge brought against virtue ethics. The challenge comes from critics who are impressed by recent psychological evidence suggesting that much of what we take to be virtuous conduct is in fact elicited by narrowly specific social settings, as opposed to being the manifestation of robust individual character. In answer to the challenge, I suggest a conception of virtue that openly acknowledges the likelihood of its deep, ongoing dependence upon particular social (...) relationships and settings. I argue that holding this conception will indeed cause problems for some important strands of thought in virtue ethics, most notably in the tradition of Aristotle's Nicomachean Ethics. But an approach to virtue ethics modeled on David Hume's treatment of virtue and character in A Treatise of Human Nature promises to escape these problems. (shrink)

I argue that some important elements of the current cosmological model are 'conventionalist’ in the sense defined by Karl Popper. These elements include dark matter and dark energy; both are auxiliary hypotheses that were invoked in response to observations that falsified the standard model as it existed at the time.

There can be no doubt that Kant thought we should be reflective: we ought to care to make up our own minds about how things are and what is worth doing. Philosophical objections to the Kantian reflective ideal have centred on concerns about the excessive control that the reflective person is supposed to exert over her own mental life, and Kantians who feel the force of these objections have recently drawn attention to Kant’s conception of moral virtue as it is (...) developed in his later work, chiefly the Metaphysics of Morals. Melissa Merritt’s book is a distinctive contribution to this recent turn to virtue in Kant scholarship. Merritt argues that we need a clearer, and textually more comprehensive, account of what reflection is, in order not only to understand Kant’s account of virtue, but also to appreciate how it effectively rebuts long-standing objections to the Kantian reflective ideal. (shrink)

We present a novel methodology for calculating the improvements obtained in successive versions of biomedical ontologies. The theory takes into account changes both in reality itself and in our understanding of this reality. The successful application of the theory rests on the willingness of ontology authors to document changes they make by following a number of simple rules. The theory provides a pathway by which ontology authoring can become a science rather than an art, following principles analogous to those that (...) have fostered the growth of modern evidence-based medicine. Although in this paper we focus on ontologies, the methodology can be generalized to other sorts of terminology-based artifacts, including Electronic Patient Records. (shrink)

For Kant, ‘reflection’ is a technical term with a range of senses. I focus here on the senses of reflection that come to light in Kant's account of logic, and then bring the results to bear on the distinction between ‘logical’ and ‘transcendental’ reflection that surfaces in the Amphiboly chapter of the Critique of Pure Reason. Although recent commentary has followed similar cues, I suggest that it labours under a blind spot, as it neglects Kant's distinction between ‘pure’ and ‘applied’ (...) general logic. The foundational text of existing interpretations is a passage in Logik Jäsche that appears to attribute to Kant the view that reflection is a mental operation involved in the generation of concepts from non-conceptual materials. I argue against the received view by attending to Kant's division between ‘pure’ and ‘applied’ general logic, identifying senses of reflection proper to each, and showing that none accords well with the received view. Finally, to take account of Kant's notio.. (shrink)

Unethical pro-organizational behaviors are unethical, but prosocially-motivated, acts intended to benefit one’s organization. This study examines the extent to which employees are willing to perform UPB to benefit a liked leader. Based on social exchange theory, we hypothesized that LMX would mediate the association of interpersonal justice with UPB willingness. Moral identity and positive reciprocity beliefs were examined as moderators. Higher LMX was significantly and positively related to UPB willingness, and the indirect effect of interpersonal justice on UPB via LMX (...) was significant and positive. These findings suggest that LMX and interpersonal justice could have a previously-unexplored dark side. Moral identity had a negative direct relationship with UPB, but it did not moderate the relationship of LMX with UPB. Thus, LMX facilitates UPB willingness even when employees are high in moral identity. LMX is associated with many positive outcomes, but our results show that high LMX may also increase willingness to perform unethical behaviors to benefit one’s leader. These results contribute to the literature by identifying a potential negative outcome associated with high LMX. (shrink)

We have investigated the emotional profile of dreams and the relationship between dream emotion and cognition using a form that specifically asked subjects to identify emotions within their dreams. Two hundred dream reports were collected from 20 subjects, each of whom produced 10 reports. Compared to previous studies, our method yielded a 10-fold increase in the amount of emotion reported. Anxiety/fear was reported most frequently, followed, in order, by joy/elation, anger, sadness, shame/guilt, and, least frequently, affection/eroticism. Unexpectedly, there was no (...) significant difference in the profiles of emotion reported by men and women. When the reports were scored for bizarreness, a significant correlation was found between the occurrence of bizarreness and major shifts in emotion. These results support the conclusion that dreaming is a mental state whose general emotional features are widely shared across individuals and strongly linked to cognitive features within individual dreams. (shrink)

Paul Feyerabend argued that theories can be faced with experimental anomalies whose refuting character can only be recognized by developing alternatives to the theory. The alternate theory must explain the experimental results without contrivance and it must also be supported by independent evidence. I show that the situation described by Feyerabend arises again and again in experiments or observations that test the postulates in the standard cosmological model relating to dark matter. The alternate theory is Milgrom’s modified dynamics. I discuss (...) three examples: the failure to detect dark-matter particles in laboratory experiments; the lack of evidence for dark-matter sub-haloes and the dwarf galaxies that are postulated to inhabit them; and the failure to confirm the predicted orbital decay of Milky Way satellite galaxies and other systems due to dynamical friction against the dark matter. In each case, Feyerabend’s criterion directs us to interpret the experimental or observational results as an indirect refutation of the standard cosmological model in favor of Milgrom’s theory. (shrink)

Alix Cohen argues that the function of feeling in Kantian psychology is to appraise and orient activity. Thus she sees feeling and agency as importantly connected by Kant’s lights. I endorse this broader claim, but argue that feeling, on her account, cannot do the work of orientation that she assigns to it.

WE must first state the subject of our inquiry and the faculty to which it belongs: its subject is demonstration and the faculty that carries it out demonstrative science.

Dark matter is a fundamental component of the standard cosmological model, but in spite of four decades of increasingly sensitive searches, no-one has yet detected a single dark-matter particle in the laboratory. An alternative cosmological paradigm exists: MOND (Modified Newtonian Dynamics). Observations explained in the standard model by postulating dark matter are explained in MOND by proposing a modification of Newton's laws of motion. Both MOND and the standard model have had successes and failures – but only MOND has repeatedly (...) predicted observational facts in advance of their discovery. In this volume, David Merritt outlines why such predictions are considered by many philosophers of science to be the 'gold standard' when it comes to judging a theory's validity. In a world where the standard model receives most attention, the author applies criteria from the philosophy of science to assess, in a systematic way, the viability of this alternative cosmological paradigm. (shrink)

This article describes our efforts to screen and enrol clinical trial participants conscientiously in the COVID-19 pandemic setting. We present the standard screening and enrolment process prior to, and our process of adapting to, the pandemic. Our goal was to develop a way to screen and enrol people for clinical trials that was both equitable and effective. In addition, we outline the steps our research department took to ensure that ethical, clinical and logistical factors were considered when matching a patient (...) to a clinical trial. (shrink)

Existing interpretations of Kant’s appeal to the spontaneity of the mind focus almost exclusively on the discussion of pure apperception in the Transcendental Deduction. The risk of such a strategy lies in the considerable degree of abstraction at which the argument of the Deduction is carried out: existing interpretations fail to reconnect adequately with any ground-level perspective on our cognitive lives. This paper works in the opposite direction. Drawing on Kant’s suggestion that the most basic picture we can have of (...) our cognitive capacity already makes reference to its state of excellence, or health (“sound understanding”), I set out by assembling Kant’s normative ground-level view of our cognitive lives, and then search for the fundamental condition of its possibility. This leads me to Kant’s conception of reflection as a normative requirement of judgment. Through examination of Kant’s remarks on reflection, I connect Kant’s preoccupation with the enlightenment ideal of originality (thinking for oneself) with his central appeal to the spontaneity of the mind. (shrink)

I discuss the relevance of the current predicament in cosmology to the debate over scientific realism. I argue that the existence of two, empirically successful but ontologically inconsistent cosmological theories presents difficulties for the realist position.

PREFACE. THE Author of this very practical treatise on Scotch Loch - Fishing desires clearly that it may be of use to all who had it. He does not pretend to have written anything new, but to have attempted to put what he has to say in as readable a form as possible. Everything in the way of the history and habits of fish has been studiously avoided, and technicalities have been used as sparingly as possible. The writing of this (...) book has afforded him pleasure in his leisure moments, and that pleasure would be much increased if he knew that the perusal of it would create any bond of sympathy between himself and the angling community in general. This section is interleaved with blank shects for the readers notes. The Author need hardly say that any suggestions addressed to the case of the publishers, will meet with consideration in a future edition. We do not pretend to write or enlarge upon a new subject. Much has been said and written-and well said and written too on the art of fishing but loch-fishing has been rather looked upon as a second-rate performance, and to dispel this idea is one of the objects for which this present treatise has been written. Far be it from us to say anything against fishing, lawfully practised in any form but many pent up in our large towns will bear us out when me say that, on the whole, a days loch-fishing is the most convenient. One great matter is, that the loch-fisher is depend- ent on nothing but enough wind to curl the water, -and on a large loch it is very seldom that a dead calm prevails all day, -and can make his arrangements for a day, weeks beforehand whereas the stream- fisher is dependent for a good take on the state of the water and however pleasant and easy it may be for one living near the banks of a good trout stream or river, it is quite another matter to arrange for a days river-fishing, if one is looking forward to a holiday at a date some weeks ahead. Providence may favour the expectant angler with a good day, and the water in order but experience has taught most of us that the good days are in the minority, and that, as is the case with our rapid running streams, -such as many of our northern streams are, -the water is either too large or too small, unless, as previously remarked, you live near at hand, and can catch it at its best. A common belief in regard to loch-fishing is, that the tyro and the experienced angler have nearly the same chance in fishing, -the one from the stern and the other from the bow of the same boat. Of all the absurd beliefs as to loch-fishing, this is one of the most absurd. Try it. Give the tyro either end of the boat he likes give him a cast of ally flies he may fancy, or even a cast similar to those which a crack may be using and if he catches one for every three the other has, he may consider himself very lucky. Of course there are lochs where the fish are not abundant, and a beginner may come across as many as an older fisher but we speak of lochs where there are fish to be caught, and where each has a fair chance. Again, it is said that the boatman has as much to do with catching trout in a loch as the angler. Well, we dont deny that. In an untried loch it is necessary to have the guidance of a good boatman but the same argument holds good as to stream-fishing... (shrink)

I reconsider the relation between love and respect in Kantian ethics, taking as my guide Iris Murdoch's view of love as the fundamental moral attitude and a kind of attention to individuals. It is widely supposed that Kantian ethics disregards individuals, since we don't respect individuals but the universal quality of personhood they instantiate. We need not draw this conclusion if we recognise that Kant and Murdoch share a view about the centrality of love to virtue. We can then see (...) that respect in the virtuous person cannot be blind to the individual, as critics of Kantian ethics contend. My approach contrasts recent efforts to assimilate Kantian respect to Murdochian love, which overlook Murdoch's distinctive claims about the singularity of moral activity. This idea is not as un-Kantian as it seems, and it should inform any Kantian ethics that aims to address the charge about individuals. (shrink)