This paper provides analyses of the effect of corruption in South Asia on credit access for small- and medium-size enterprises, and credit constraints faced by female-owned and male-owned SMEs. By addressing potential endogeneity and reverse causality of corruption and credit constraints via instrumental variables, this study reports that corruption has a detrimental effect on credit access. Specifically, corruption increases the probability of SMEs credit constraints by 7.63%. However, gender differences emerge, indicating that bribery is slightly more effective when used by (...) female SME owners. When male-owned SMEs pay bribes, they are on average 0.61% more credit-constrained than their counterparts. For female-owned SMEs paying bribes, they are on average 0.78% more likely to be less credit-constrained compared to female SME owners who do not pay bribes. Overall, bribery is not very effective in achieving the desired outcome and attitudes towards bribery as unethical may be more a question of culture than of gender. (shrink)

The purpose of this paper is to examine the effect of corporate governance practices of small cap companies have had on their financial performances. Previous studies have mainly examined governance practices of larger corporations. This analysis focuses on the governance variables that have been highlighted by the New Zealand Securities Commission governance principles and guidelines and also on the governance variables that are supported in the literature as providing an appropriate structure for the firm in the environment in which it (...) operates. The data for 71 small cap companies listed in New Zealand over a five-year period from 2001 to 2005 was analysed. Pooled data, OLS and 2SLS regression techniques were used and Tobin's Q, ROA and OPINC were used as the dependent variables. The evidence does support the hypothesis that the existence of board independence and audit committee has enhanced firm financial performance, as measured by Tobin's Q. (shrink)

This study investigates the link between female board directors and company financial performance and agency costs in Sri Lanka's publicly listed companies. In order to investigate the impact of board gender diversity on firm financial performance, a dynamic panel generalised method of moment estimation is applied. Three variables are used as proxies for gender diversity of the board of directors, namely the percentage of women on the board, a dichotomous dummy and the Blau index. A Tobit model with endogenous regressors (...) is used to investigate the impact of female board members on agency cost, using growth opportunities as a measure of agency cost. After controlling for size, industry and other corporate governance measures, this study finds a significant negative relationship between the proportion of women on boards and firm value along with an increase in company agency cost. This evidence provides insights for governments and academic institutions in their efforts to provide resources that will help enhance women's leadership skills. (shrink)

Matthew Stuart offers a fresh interpretation of John Locke's Essay Concerning Human Understanding, arguing for the work's profound contribution to metaphysics. He presents new readings of Locke's accounts of personal identity and the primary/secondary quality distinction, and explores Locke's case against materialism and his philosophy of action.

What sort of property did Locke take colors to be? He is sometimes portrayed as holding that colors are wholly subjective. More often he is thought to identify colors with dispositions—powers that bodies have to produce certain ideas in us. Many interpreters find two or more incompatible strands in his account of color, and so are led to distinguish an “official,” prevailing view from the conflicting remarks into which he occasionally lapses. Many who see him as officially holding that (...) colors are dispositions concede that some of his remarks imply that colors are in us rather than in objects. After raising some difficulties for these readings, I offer an alternative. I will argue that Locke takes colors to be relational, but not dispositional, properties of the objects around us. On his view, an object is red if and only if it is actually causing a certain sensation in some observer. (shrink)

In this book Nicholas Wolterstorff, a well-known proponent of “Reformed epistemology,” sets out to investigate the modern origins of the evidentialist and foundationalist tradition that he opposes. He locates these origins in book 4 of Locke’s Essay Concerning Human Understanding. Wolterstorff tells us that he had to overcome strong prejudices in writing the book, for “in the philosophical world I inhabit, Locke has the reputation of being boringly chatty and philosophically careless”. He suggests that the earlier parts of (...) the Essay deserve that reputation, but says that while reading book 4 he felt himself to be “present at the making of the modern mind”. To Wolterstorff’s credit, he seems to have vanquished some of his prejudices, for this book offers careful and charitable readings of many important strands in Locke’s epistemology. (shrink)

Tim Stuart-Buttle offers a fresh view of British moral philosophy in the 17th and early 18th centuries. In this period of remarkable innovation, philosophers such as Hobbes, Locke, and Hume combined critique of the role of Christianity in moral thought with reconsideration of the legacy of the classical tradition of academic scepticism.

Locke refrained from engaging explicitly with Hobbes in any of his writings. Locke’s policy of non-engagement should be interpreted, we argue, neither as evidence of his lack of interest in (or ignorance of) Hobbes’s arguments, nor as an attempt to conceal from the uninitiated Locke’s covert Hobbesian commitments. Locke’s silence reveals rather than conceals. What it reveals is an absolute determination to “distinguish between the business of civil government and that of religion, and to mark the (...) true bounds between them”. Approached in this way, precisely because Locke’s account of the “business of civil government” says nothing about ecclesiastical government, the second of Two Treatises can be read, in its entirety, as a powerful critical response to Hobbes. To see why, it is necessary to grasp that Part iii of Leviathan (“Of a Christian Common-wealth”) is integral to Hobbes’s positive argumentative purposes in the work. (shrink)

Our understanding of Locke’s theory of ideas is stymied by his reticence about what he means by ‘idea’. I attempt to work around the problem by focusing on some neglected questions that afford us a better picture of his theory. I ask not what his ideas are, but what kinds of states or episodes he counts as someone’s having an idea, and what is involved in having simple and complex ideas. I argue that although we can make sense of (...) much of what he says about having simple and complex ideas, he is muddled about simplicity and complexity. (shrink)

This collection of 28 original essays examines the diverse scope of John Locke’s contributions as a celebrated philosopher, empiricist, and father of modern political theory. Explores the impact of Locke’s thought and writing across a range of fields including epistemology, metaphysics, philosophy of science, political theory, education, religion, and economics Delves into the most important Lockean topics, such as innate ideas, perception, natural kinds, free will, natural rights, religious toleration, and political liberalism Identifies the political, philosophical, and religious (...) contexts in which Locke’s views developed, with perspectives from today’s leading philosophers and scholars Offers an unprecedented reference of Locke’s contributions and his continued influence. (shrink)

Locke’s remarks about attention have not received a great deal of attention from commentators. In Section 1, I make the case that attention plays an important role in his philosophy. In Section 2, I describe and discuss five Lockean claims about attention. In Section 3, I explore Locke’s views about attention in relation to his account of sense perception. He thinks that we attend to objects by attending to ideas, and I argue that he treats sensory ideas as (...) transparent in a particular sense. In Section 4, I raise the worry that some of Locke’s remarks about attention seem at odds with his doctrine of the transparency of the mind. I offer two ways of resolving the problem, and suggest that they are parts of a single story. (shrink)

This chapter contains sections titled: References.

European philosophy from the late seventeenth century through most of the eighteenth is broadly conceived as the "Enlightenment," a period of empricist reaction to the great seventeeth century Rationalists. This volume begins with Herbert of Cherbury and the Cambridge Platonists and with Newton and the early English Enlightenment. Locke is a key figure, as a result of his importance both in the development of British and Irish philosophy and because of his seminal influence in the Enlightenment as a whole. (...) British Philosophy and the Age of the Enlightenment includes discussion of the Scott Enlightenment and its influence on the German Aufklaring , and consequently on Kant. The French Enlightenment, which in turn affected the late radical Enlightenment, especially Bentham, is also considered here. This survey brings together clear, authorative chapters from leading experts and provides a scholarly introduction to this period in the history of philosophy. It includes a glossary of technical terms and a chronological table of important political, philosophical, scientific and other cultural events. (shrink)

European philosophy from the late seventeenth century through most of the eighteenth is broadly conceived as `the Enlightenment', the period of empirical reaction to the great seventeenth century Rationalists. This volume begins with Herbert of Cherbury and the Cambridge Platonists and with Newton and the early English Enlightenment. Locke is a key figure in late chapters, as a result of his importance both in the development of British and Irish philosophy and because of his seminal influence in the Enlightenment (...) as a whole. British Philosophy and the Age of Enlightenment includes discussion of Scottish Enlightenment and its influence on the German Aufklarung , and consequently on Kant. French thought, which in turn affected the late radical Enlightenment, especially Bentham, is also considered here. This survey brings together clear, authoritative chapters from leading experts and provides a scholarly introduction to this period in the history of philosophy. It includes a glossary of technical terms and a chronological table of important political, philosophical, scientific and other cultural events. (shrink)

I examine two strands in Locke's thought which seem to conflict with his corpuscularian sympathies: his repeated suggestion that natural philosophy is incapable of being made a science, and his claim that some of the properties of bodies--secondary qualities, powers of gravitation, cohesion and maybe even thought--are arbitrarily "superadded" by God. ;Locke often says that a body's properties flow from its real essence as the properties of a triangle flow from its definition. He is widely read as having (...) thought that if we had ideas of a body's real essence, we would be able to perceive a priori a necessary connection between that body's real essence and its observable properties. I argue that this leaves Locke's skepticism without any rationale, making it depend entirely upon our ignorance of corpuscular structures when in fact he never rules out the possibility of our acquiring ideas of corpuscular structures through improvements in microscopy. I argue that Locke's geometrical analogy is better understood as an endorsement of deductivism about scientific explanation. He thinks that knowledge of corpuscular structures is a necessary, but not a sufficient, condition for scientific knowledge of bodies. The deeper source of his skepticism is his view that we cannot have universal and certain knowledge of the laws of nature because they are contingent. ;I approach the subject of Locke's attitude toward mechanism by examining his superaddition doctrine. In contrast with M. R. Ayers, I attribute to Locke what I call strong voluntarism: the view that a body's powers to interact with other bodies are not fully determined by the essence of matter, and that they are at least partly determined by the will of God. I argue that Descartes and Boyle are also strong voluntarists, but that Locke's voluntarism differs in that he maintains that bodies have some powers which are not even partly explicable in terms of the motions of matter. Locke's position is thus incompatible with the mechanism of Descartes and Boyle. (shrink)

An introduction to the special issue on Hobbes and Locke: Meaning, Method, Modernity.

"John Locke (1632-1704) was a prolific correspondent and he left behind him over 3,600 letters, a collection almost unmatched in pre-modern times. A man of insatiable curiosity and wide social connections, his letters open up the cultural, social, intellectual, and political worlds of the later Stuart age. Spanning half a century, they mark the transition from the era of revolutionary Puritanism to the dawn of the Enlightenment. This book brings together 244 of the most important and revealing letters. (...) Half of them are letters written by Locke (12 per cent of the total number surviving), the other half are letters written to him. If Locke's place is already secure among those who explore philosophy and political ideas, these letters will give Locke a new presence among those who are interested in the social and cultural worlds of seventeenth-century Britain."--Jacket. (shrink)

It is widely accepted that the seventeenth-century natural lawyers constructed the minimal requirement for social coordination between self-seeking individuals animated by the desire for self-preservation. On most interpretations, Grotius and his successors focused on the “perfect” duties and had little to say about the “imperfect” duties of love and civility. This essay provides an alternative reading of post-Grotian natural law by reconstructing Pufendorf’s and Locke’s understanding of how the duties of civility and love might be realised in civil society. (...) The essay argues that, for Pufendorf and Locke, the desire for esteem offers an explanation of how people recognize the content of the reciprocal duties of social morality and motivate themselves to act accordingly. The reconstruction of their views on the beneficial effects of esteem-seeking points towards a new interpretation of how, and why, philosophical interest in an economy of esteem and the social nature of the self emerged, prior to their treatment by eighteenth-century authors such as Hume and Smith. (shrink)

The “Cartesian” model of the rational subject is central to the political philosophy of Hobbes and Locke and is “transcendentally” affirmed in Kant's account of ethics and legality. An influential body of Hegelian inspired critique has suggested, however, that the dialectical deficiencies of the dominant models of Liberalism in late modernity inhere in this “atomistic” or “self-supporting” characterisation of the individual. The “atomistic” perspective appears as an obstacle not only to the coherent articulation of the compatibility of liberty and (...) equality, but also to the attempt to express the mutuality of recognition between agents that might offer a genuinely communal conception of constitution and subject. Employing as a frame of reference Alan Brudner's analysis of these issues in his comprehensive Constitutional Goods it is argued that legal and political theory might usefully adopt an understanding of Hegel's notion of “recognition” in this regard without drastic phenomenological reconstruction of the Cartesian or Kantian subject. (shrink)

John Locke's first letter to Stillingfleet addresses a number of important philosophical topics, including the idea of substance, knowledge without clear and distinct ideas, the existence of spiritual substances, the ontological argument for the existence of God, and the real essences of things. He notes that his Essay does not contain a single argument against the doctrine of the Trinity, and indeed, he says that he wrote the entire book "without any Thought of the controversy between the Trinitarians and (...) Unitarians". One episode in Locke's second letter that nicely illustrates its overall character is a 48‐page discursion in which he recounts conversations that he had with some friends about Stillingfleet's efforts to explain certain key concepts. Locke's second letter focused mainly on Stillingfleet's muddledness, and on the thinness of the pretext for involving Locke in the first place. Stillingfleet's reply to each of these letters is presented in this chapter. (shrink)

In his brief autobiography, Hume recalls how the publication of the heterodox Anglican clergyman, Conyers Middleton's Free Inquiry caused a ‘furore’ in England in 1748, whereas his own Philosophical Essays were ‘neglected’. This has secured Middleton a very marginal place in Hume scholarship. This essay argues that Middleton's importance at a crucial stage of Hume's intellectual development, during the Ninewells years (April 1749 – July 1751), was more significant than has been allowed. On his return to Ninewells, Hume reflected on (...) the reasons for Middleton's success. Section I considers the nature of Middleton's contributions to English philosophical-theological debate. In Section II, it is argued that this English context illuminates our understanding of both the manner and the matter of Hume's writings from the Ninewells years, which show a marked concern with the heathen philosophers’ treatments of the relationship between morality and religion. Here, the similarities between Gibbon's situation in the 1760s and Hume's from the late 1740s are foregrounded: a period in which both authors confronted the challenge of translating their philosophical insights into an English ‘idiom’. The essay concludes by offering some broader reflections on why intellectual historians have tended to dismiss, rather than to explore the Hume-Middleton connection. (shrink)

Originally published in 1957, this book collects together large sections of important tracts from a variety of political documents, particularly those concerned with democracy, communism, Protestantism or Catholicism. The extracts come from a wide range of authors including Bertrand Russell, Karl Marx, John Locke and Pope Pius XII. This book will be of value to anyone seeking an overview of the key political divisions in the late 20th century or who is interested in political theory generally.

Philosophical Review, revised April 16, 2007.

The author describes new interpretations of the problem of theology’s influence on John Locke’ philosophical doctrine. The main subject of the analysis is the latest publications by Victor Nuovo, the most famous contemporary researcher of mentioned problem.

In 1890 C. S. Peirce wrote a review of A. C. Fraser’s recent book on Locke, published to coincide with the bicentennial of Locke’s Essay. Peirce remarked that “Locke’s grand work was substantially this: Men must think for themselves, and genuine thought is an act of perception…. We cannot fail to acknowledge a superior element of truth in the practicality of Locke’s thought, which on the whole should place him nearly upon a level with Descartes.” This (...) estimate of Locke was not the common opinion in England during the nineteenth century. This opinion was reflected in Fraser’s book which, Peirce remarked, could not “be said to be a sympathetic account of [Locke]. The biographer seems to see no charm in his hero, and is perpetually speaking of his want of imagination; which only means he was not given to unpractical dreaming.” Locke had his knowledgeable critics and defenders—for instance Dugald Stewart and John Stuart Mill—but the common opinion ranged from extreme hostility and contempt to condescending criticism of isolated minor points. His style was deplored, his philosophy was called unoriginal and a mere unacknowledged plagiarism of Gassendi and Hobbes; he was said to have so thoroughly misunderstood Descartes that he had merely repeated him with new errors; he was said to owe his philosophical reputation entirely to his advocacy of the popular argument for political freedom or merely to the intellectual circumstances of his time; he was held accountable for Condillac’s rejection of reflection and reason; he was knocked down with a few bare sentences loosely drawn from Leibniz; he was said to have made the mind a puny, passive, mechanical thing. He was called a sensualist, a materialist, a sceptic, an atheist, and a utilitarian though at the same time—and not without contradiction—he was generally, especially by his critics, styled a “great lover of truth,” a plain and simple, well-meaning and religious man. To the nineteenth century Locke meant the Essay, and the history of the Essay was in large measure the history of modern thought, of the eighteenth century. Precisely for this reason there was something nearly sinister about him, in spite of his good personal character. “Locke, himself a clear, humble-minded, patient, reverent, nay, religious man,” said Carlyle, “had paved the way for banishing religion from the world.”. (shrink)

"The papers in this volume were presented at a conference on 'The Liberal Tradition' in Sydney in August 1987"--P. x. Includes bibliographies and index.

This essay systematically reformulates an earlier argument about Locke and new world slavery, adding attention to Indians, natural law, and Locke's reception. Locke followed Grotian natural law in constructing a just-war theory of slavery. Unlike Grotius, though, he severely restricted the theory, making it inapplicable to America. It only fit resistance to "absolute power" in Stuart England. Locke was nonetheless an agent of British colonialism who issued instructions governing slavery. Yet they do not inform his (...) theory--or vice versa. This creates hermeneutical problems and raises charges of racism. If Locke deserves the epithet "racist," it is not for his having a racial doctrine justifying slavery. None of this makes for a flattering portrait. Locke's reputation as the champion of liberty would not survive the contradictions in which new world slavery ensnared him. Evidence for this may be found in Locke's reception, including by Southern apologists for slavery. (shrink)

In this paper I criticize arguments by Pauline Phemister and Matthew Stuart that John Locke's position in his An Essay Concerning Human Understanding allows for natural kinds based on similarities among real essences. On my reading of Locke, not only are similarities among real essences irrelevant to species, but natural kind theories based on them are unintelligible.

It would be difficult to exaggerate the importance of Cicero to British—and not only British—philosophers in the seventeenth and eighteenth centuries. For the most part, interest appears to have been much greater in De Officiis, De Finibus Malorum et Bonorum, De Natura Deorum, Academica, De Legibus, and so on, than in the works of Plato or of Aristotle. Yet Cicero was different things to different people. To many, he was the paradigmatic moderate Stoic, critical of the paradoxical excesses of Zeno (...) and Chrysippus, but unwilling to follow the Epicureans in their reduction of the goods of life to the merely useful and agreeable. In this rich and rewarding study of British moral philosophy from Locke to Hume, Tim... (shrink)

This essay systematically reformulates an earlier argument about Locke and new world slavery, adding attention to Indians, natural law, and Locke's reception. Locke followed Grotian natural law in constructing a just-war theory of slavery. Unlike Grotius, though, he severely restricted the theory, making it inapplicable to America. It only fit resistance to “absolute power” in Stuart England. Locke was nonetheless an agent of British colonialism who issued instructions governing slavery. Yet they do not inform his (...) theory—or vice versa. This creates hermeneutical problems and raises charges of racism. If Locke deserves the epithet “racist,” it is not for his having a racial doctrine justifying slavery. None of this makes for a flattering portrait. Locke's reputation as the champion of liberty would not survive the contradictions in which new world slavery ensnared him. Evidence for this may be found in Locke's reception, including by Southern apologists for slavery. (shrink)

In this paper I criticize the interpretations of John Locke on natural kinds offered by Matthew Stuart and Pauline Phemister who argue that Locke’s Essay Concerning Human Understanding allows for natural kinds based on similar real essences. By contrast, I argue for a conventionalist reading of Locke by reinterpreting his account of the status of real essences within the Essay and arguing that Locke denies that the new science of mechanism can justify the claim that (...) similarities in corpuscular structure imply similarities in sensible qualities. I argue further that Locke rejects as meaningless any talk of kinds that appeals to similarities among real essences. On my reading of Locke, similarities in real essences are not only irrelevant to species, but natural kind theories based on themare unintelligible. (shrink)

John Locke is perhaps the greatest philosopher in the English language. A political activist in a revolutionary age, Locke's prolific correspondence opens up the cultural, social, intellectual, and political worlds of the later Stuart era. Spanning half a century, the letters trace the transition from Puritanism to the Enlightenment. A man of insatiable curiosity, Locke's letters encompass science, education, travel, religion, and the birth of the British empire.

The circumstances of later Stuart monarchy provide the context of John Locke's politics in its simplest sense. This chapter surveys the politics of memory, the politics of religion, partisanship and the public sphere, British and Irish contexts, and European events. Some of these remained constant throughout Locke's life, but specific works were stimulated by particular events as well. The politics of memory were dwarfed by the politics of religion. One of the major reasons why later Stuart (...) England was so obsessed with the memory of its earlier troubles was the continuing problem of imposing religious uniformity on a population divided by faith. The chapter explores the milieu in which Locke's political writings might have been, and then actually were, published. The context of Locke's political thought involves not just political events, but also the political culture of partisanship, print, and the "public sphere". (shrink)

A Norton Library edition of Locke's Second Treatise of Government, edited by A. John Simmons.