Despite increasing pressure to deal with climate change, firms have been slow to respond with effective action. This article presents a multi-level framework for a better understanding of why many firms are failing to reduce their absolute greenhouse gas emissions, which contribute to climate change. The concepts of short-termism and uncertainty avoidance from research in psychology, sociology, and organization theory can explain the phenomenon of organizational inaction on climate change. Antecedents related to short-termism and uncertainty avoidance (...) reinforce one another at three levels—individual, organizational, and institutional—and result in organizational inaction on climate change. The article also discusses the implications of this multi-level framework for research on corporate sustainability. (shrink)

While commentators have long decried managerial short-termism, the deleterious effects of managerial short-termism on corporate social performance (CSP), and how to ameliorate those negative effects, remain underexplored. Specifically, due to the difficulty of unobtrusively measuring what is fundamentally a cognition in managers, empirical evidence at the organizational level of managerial short-termism’s effect on CSP is relatively sparse. Here, we measure managerial short-termism by content analyzing firms’ publicly filed annual reports (10-Ks). Using a (...) combined dataset for 1,665 U.S. firms for the period 2000–2012, we show that managerial short-termism is negatively associated with CSP. However, we also show that this effect can be reduced through increased external monitoring by important stakeholders who value CSP. Specifically, we show that increasing dedicated institutional ownership and increasing analyst coverage both decrease the negative effect of managerial short-termism on CSP. We contribute to theory by predicting and showing the negative effect of managerial short-termism on CSP, and how external monitoring can reduce its deleterious effects. We contribute to practice by showing how this managerial cognition can be identified, and how its negative effects can be ameliorated, at the organizational level. (shrink)

: Many societies are now having to live with the impacts of climate change and are being confronted with heat waves, wildfires, droughts, and rising sea levels. Without radical action, future generations will inherit an even more degraded planet. This raises the question: How can political institutions be reformed to promote justice for future generations and to leave them an ecologically sustainable world? In this essay, I address a particular version of this question; namely: How can supra–state institutions and transnational (...) political processes be transformed to realize climate justice for future generations? The essay seeks to make two contributions. First, it considers what criteria should guide the evaluation of proposals for reform. It proposes four criteria, and analyzes how they should be interpreted and applied. Second, it considers a raft of different proposals, commenting on their strengths and weaknesses. It presents ten proposals in all, including, among others, establishing a UN high commissioner for future generations, appointing a UN special envoy for future generations, creating a UN agency mandated to protect future generations, instituting representatives for the future in all key UN bodies, ensuring greater youth participation in transnational political decision-making processes, and further developing a global citizens’ assembly. In short, my aim is to outline some of the options available and to defend a normative framework that we can use to evaluate them. (shrink)

This paper presents a case study of the South African operation of a logistics company, operating in a context of short-termism and under-performance. Frustration with managing in this context, and concern that this environment might erode the customer value proposition, prompted an exploration of the question: “How can the business prioritise its investment in intangibles to support sustainable growth in an environment of short-termism and sub-par business performance?” The study followed an inductive grounded theory approach and (...) began with an exploration of the system of short-termism as it was being experienced by the management team. This evolved in an iterative process to include an exploration of the customer value proposition, the organisation’s capabilities and the system of investment in intangibles. Data were collected over a period of 6 months, across a series of four stages as the management team grappled with the short-term financial objectives imposed on them. The data categories were used to develop 214 propositions across all stages. Through the four stages, four artefacts were developed from the propositions a causal loop diagram of the system of short-termism; a documented value proposition; an assessment of the health of the business’ capitals; and a multi-year intangibles investment programme. The findings indicate that a focus on investment in intangible assets can play a vital role in stimulating sustainable value creation in an environment of historically poor returns on investment and pressure for short-term financial results. It is suggested that investment in intangibles can be introduced as a multi-year capabilities investment plan. The study succeeded in getting investment in intangibles approved and the implication is that long-term decision-making can co-exist in an environment of short-termism and low growth. (shrink)

We obsess about what our politicians are doing, but ignore that our companies are no longer investing, instead they are focusing on next quarter's profits in order to justify ever higher executive compensation. This is in turn accelerating the West’s economic decline versus the East. While the short-term focus of business is becoming widely acknowledged, we are not doing enough to reverse this. Looking at the less known history of companies shows us the choices we can no longer afford (...) to ignore. Some current reforms need to go further and some areas that need reform are currently being ignored. Encouraging our businesses to invest again is one of the most important issues of our time. (shrink)

Political short-termism costs the global economy hundreds of billions to trillions of dollars annually, and leads to many millions of deaths from disasters and suboptimal spending. In this paper, I propose a futures assembly explicitly incentivised to promote the interests of future generations as a promising strategy to ameliorate short-termism. The assembly I propose is governed by citizens randomly selected from among the populace, who are rewarded in the future to the extent that they successfully promote (...) the welfare of future generations. The most initially promising such retrospective accountability mechanism is an iterated mechanism, in which each generation of policymakers rewards the previous generation for their policy choices and for their own evaluation of the previous generation. Such an assembly, supplemented with the duties, powers, and tools that I describe, and with appropriate support from archivists and experts, may manage to represent generations many years into the future. (shrink)

Institutions to address short-termism in public policymaking and to more suitably discharge our duties toward future generations have elicited much recent normative research, which this chapter surveys. It focuses on two prominent institutions: insulating devices, which seek to mitigate short-termist electoral pressures by transferring authority away to independent bodies, and constraining devices, which seek to bind elected officials to intergenerationally fair rules from which deviation is costly. The chapter first discusses sufficientarian, egalitarian, and prioritarian theories of our (...) duties toward future generations, and how an excessive focus on the short term in policymaking may hinder that such duties be fulfilled. It then surveys constraining and insulating devices, and inspects their effectiveness to address the epistemic, motivational, and institutional drivers of political short-termism as well as their intra- and intergenerational legitimacy. (shrink)

In the context of current environmental crises, which threaten to seriously harm living conditions for future generations, liberal-capitalist democracies have been accused of inherent short-termism, that is, of favouring the currently living at the expense of mid- to long-term sustainability. I will review some of the reasons for this short-termism as well as proposals as to how best to represent future people in today’s democratic decision-making. I will then present some ideas of my own as to (...) how to reconceive the idea of democracy and the responsibilities of citizenship in the face of increasing obligations to sustain both the environment and democratic institutions for future people. I argue that taking turns between governing and governed is a key dimension of democracy, and that it implies in-principle consent to others governing after my turn, including future generations. Thus, future people must be better represented than they generally are today, in particular when democratic institutions find themselves squeezed between an overburdened environment in which they are embedded, and a fast-paced and short-termist globalizing economy. (shrink)

In representative democracies, the absence of responsiveness by elected officials to the interests of the represented often generates problems of legitimacy, accountability and effectiveness. However, responsiveness also tends to narrow the time horizons of democratic decision-making and promote short-termism. This paper advances the notion that responsiveness to interests involving distant time horizons is possible by reconfiguring the franchise in a time-sensitive and future-oriented way. It is divided into two parts. The first pinpoints a few inconsistencies in the available (...) proposals for making responsiveness and the long term compatible (e.g., promoting youth turnout, narrowing the franchise to robust epistemic fitness, establishing future-oriented institutions). The second advances the creation of temporal electoral circles operating alongside territorial electoral circles in order to prompt responsiveness to multitemporal interests. The conclusion asserts that this kind of franchise design is the best available option for introducing temporal aspects into the character of democratic representation. (shrink)

In times of climate change and public debt, a concern for intergenerational justice should lead us to have a closer look at theories of intergenerational justice. It should also press us to provide institutional design proposals to change the decision-making world that surrounds us. This book provides an exhaustive overview of the most important institutional proposals as well as a systematic and theoretical discussion of their respective features and advantages. It focuses on institutional proposals aimed at taking the interests of (...) future generations more seriously, and does so from the perspective of applied political philosophy, being explicit about the underlying normative choices and the latest developments in the social sciences. It provides citizens, activists, firms, charities, public authorities, policy-analysts, students, and academics with the body of knowledge necessary to understand what our institutional options are and what they entail if we are concerned about today's excessive short-termism. (shrink)

Governments are often so focused on short-term gains that they ignore the long term, thus creating extra unnecessary burdens on their citizens, and violating their responsibilities to future generations. What can be done about this? In this paper I propose a package of reforms to the ways in which policies are made by legislatures, and in which those policies are scrutinised, implemented and evaluated. The overarching aim is to enhance the accountability of the decision-making process in ways that take (...) into account the interests of persons in the future. (shrink)

In an era of short-termism that has produced disastrous long-term consequences for the planet, this book returns the concept of time to a philosophical reflection on pressing concerns facing us today. The book proposes a critique of scientific determinism that demands an urgent rethinking of causality and proposes a new ethical paradigm.

Although naive analysts may hint at some unexpected benefits due to Boris Johnson's inconsistency and short-termism, which may contribute to his changing minds and supporting some shiny science projects, this is highly uncertain. Even if that slim chance becomes real, that kind of benefit is not desirable.

In all probability, future generations will outnumber us by thousands or millions to one. In the aggregate, their interests therefore matter enormously, and anything we can do to steer the future of civilization onto a better trajectory is of tremendous moral importance. This is the guiding thought that defines the philosophy of longtermism. Political science tells us that the practices of most governments are at stark odds with longtermism. But the problems of political short-termism are neither necessary nor (...) inevitable. In principle, the state could serve as a powerful tool for positively shaping the long-term future. In this chapter, we make some suggestions about how to align government incentives with the interests of future generations. First, in Section II, we explain the root causes of political short-termism. Then, in Section III, we propose and defend four institutional reforms that we think would be promising ways to increase the time horizons of governments: 1) government research institutions and archivists; 2) posterity impact assessments; 3) futures assemblies; and 4) legislative houses for future generations. Section IV concludes with five additional reforms that are promising but require further research: to fully resolve the problem of political short-termism we must develop a comprehensive research program on effective longtermist political institutions. (shrink)

This article considers financial risk management practice using a virtue ethics lens, in response to ongoing critiques of risk management from within business ethics. Risk management should be seen as embedded within a complex system of cultures, organizations and regulations that are underpinned by a quantitatively reductive or ‘mechanistic’ economic paradigm, where dominant logics of self-interest, profit maximization and short-termism prevail. Building on recent work applying virtue ethics in finance, an alternative to the values, normative expectations and priorities (...) in financial risk management is presented in the form of a refined ‘taxonomy’ of the virtues that can be applied to individuals and organizations engaged in financial risk management. This article aims to contribute to and extend debate on the ethical aspects of risk management and presents an alternative to more technically based critiques which do not engage with the underlying socially constructed foundations of risk management practice. It thereby provides a basis to critique the mechanistic and narrow approach used in the current regulation of the sector. (shrink)

The relation between Kant’s philosophy and the “philosophy of balance” as it is described in the report Come on! Capitalism, Short-termism, Population and the Destruction of the Planet, delivered to the Club of Rome in 2018, requires some analysis. The authors of the report consider Kant to be a philosopher of European Enlightenment which laid the foundations of the modern world, but also proved to be the source of global problems. The report characterises the philosophy of the Enlightenment (...) as lop-sided rationalism which dismisses everything that does not possess desirable properties. In exchange, the authors offer a philosophy of balance, described in several points as the balance between conflicting values. The overarching problem of the philosophy of balance is the restraining of egoism. For this reason I first examine the relationship between duty and human inclinations in Kant’s ethics. I then demonstrate that the topic of political forecasts and the recommendations which Kant prescribes both in his philosophy of history and in his reflections on politics, right and justice, essentially boils down to three points of the philosophy of balance: the balance between development and justice (Kantian republicanism), between the speed and stability of development (external policy, the Kantian peace project), and between the short-term and long-term perspectives (reform policy). I then touch upon the problem of the implementation of Kantian principles in politics in the light of the reception of Kant in the modern theories of social conflicts, the communication theory of J. Habermas and the justice theory of J. Rawls. The overall conclusion is that Kant’s philosophy is not a philosophy of exclusion, capitalist values and utilitarianism and is not their ideological basis. (shrink)

The review surveys the main ideas discussed at the international scientific conference “Immanuel Kant and the ‘New Enlightenment’” hosted by the Immanuel Kant Baltic Federal University (IKBFU) in Kaliningrad on 20-22 April 2022. It was organised by IKBFU’s research unit Academia Kantiana with the support of the Petersburg Dialogue Forum. Speakers analysed the theses of the Report to the Club of Rome, Come on! Capitalism, Short-termism, Population and the Destruction of the Planet (2018), whose authors, Ernst Ulrich von (...) Weizsäcker and Anders Wijkman, initiated a call for a “new Enlightenment”. The participants compared these theses with Kant’s philosophical ideas and looked for an answer to the question whether Kant’s critical philosophy should be consigned to the “old” Enlightenment or whether it has real potential for the desired “new Enlightenment”. The summaries of papers and discussions are arranged in order of their presentation. The Conference has shown that Kant’s Enlightenment has not lost its relevance while the ideas of the “new Enlightenment” need to be further examined philosophically. (shrink)

In the Club of Rome report Come on! Capitalism, Short-Termism, Population and the Destruction of the Planet (2018) Kant, along with other “old” Enlighteners, is presented as the father of a world-view which led to the destabilisation of the environment in which humanity exists. The authors of the report argue that the “old Enlightenment” with its individualism, faith in the market and a consumerist attitude to nature should be scrapped. I maintain that this assessment of Kant’s philosophy is (...) groundless and that his ideas allow us both to conduct a more profound diagnosis of the crisis and to propose a more solidly founded strategy of overcoming it. First, I sum up the position of the authors concerning the loss of sustainability of development which they attribute to the philosophy of Enlightenment. Next, I outline the history and content of the notion of “sustainable development” and offer an analysis of the sources of progressivist commitment to the conquest of nature which lie outside Modern Times in the idea of the “cultural mandate”. Then I present the Kantian diagnosis of the causes of the crisis which attributes it to humankind’s failure to “mature”. I compare the idea of “the full world” formulated by the authors of the report with the idea of the “the world come of age” and their diagnosis of “capitalism — short-termism — depletion of resources” with the Kantian assessment of the attempts to escape from the predicaments of the present into the past or the future. I draw attention to Kant’s solutions to some of the specific problems indicated in the report. Instead of the strategy of “return of the cultural mandate”, proposed at this time by the authors of the report, the Kant­ian answer to the crisis is a “Copernican turn” and re-direction of the cultivating effort to the inner moral development of the human being. (shrink)

Capitalism has been an unprecedented engine of wealth creation for many centuries, leading to sustained productivity gains and long-term growth and lifting an increasing proportion of humanity out of poverty. But its effects, and hence its future, have come increasingly under question: Is capitalism still improving wealth and well-being for the many? Or, is long-term value creation being sacrificed to the pressures of short-termism, with potentially far-reaching consequences for society, the natural environment, prosperity, and global order? Building on (...) a collaboration between the Schulich School of Business and global management consultancy McKinsey & Company, this volume reflects both the urgency of the needed action and the tremendous opportunity to forge consensus and catalyze a lasting movement toward a more responsible, long-term, and sustainable model of capitalism. This unique volume brings together many of the leading proponents for a reformed, re-imagined capitalism from the Âfields of academia, business, and NGOs. Its contributors have been at the forefront of thought and action in regard to the future of capitalism. Both individually and collectively, they provide powerful suggestions of what such a long-term oriented model of capitalism should look like and how it can be achieved. Drawing on their research and professional experience, they write in an accessible style aiming to reach the broad audiences required to turn a re-imagined capitalism into a reality. (shrink)

The study explores the challenges UK-based institutional investors face when trying to monitor investee companies and influence their social, environmental, and governance practices. Consistent with previous research, I find that misalignment of interests within the investment chain and dispersed ownership are factors which inhibit investor activism. However, other underexplored challenges include lack of investee company transparency and investor experience in activism, as well as low client demand for engagement and internal conflicts of interest. The results contribute to the literature on (...) institutional investor activism by using direct empirical evidence to systematically discuss the challenges to stewardship. Given the intensification of media and regulatory attention on shareholders in the post-global financial crisis era, coupled with investors’ growing awareness and practice of stewardship, the research opens new avenues for enquiry which go beyond the on-going debate about the monitoring versus short-termism roles of institutional investors. (shrink)

Sustainable investment, which integrates social, environmental and ethical issues, has grown from a niche market of individual ethical investors to embrace institutional investors resulting in £764 billion in assets under management in the UK alone [Eurosif, 2008: ‘European SRI Study 2008’ ]. Explaining this growth is complex, involving shifts in personal and collective values, reactions to corporate scandals, scientific and media pronouncements about climate change, Government initiatives, responses from financial markets and the influence of SI innovators in The City of (...) London. The article examines the influence of human agency through interviews with 14 SI champions who have variously been responsible for launching SI funds and changing investment processes and organisational structures in order to enhance SI. Interviewees were asked about their motivations and persuasive strategies, the obstacles they faced and how they overcame them as well as broader implications of SI for financial markets. The following key categories inform the results and the discussion: Values; Conservatism, Antipathy and Incredulity; Optimism and Sympathy from Insiders; The Social and Political Context; The Business Case; Organisational Constraints; Inappropriate forms of Remuneration; Short-termism; The Nature of Capitalism. Three discourses were also identified. The first is the necessity to make a business case for SI; the second is the benefits that SI can bring to the quest of overcoming short-termism; the third is a belief that for SI to have a significant influence, greater government intervention is required. (shrink)

ABSTRACT In ‘Should I offset or should I do more good?’, H. Orri Stefansson defends an argument that calls into question the belief that we can discharge our duties to prevent harm by carbon offsetting. Stefansson suggests that other actions, such as donations, should be preferred. This paper questions aspects of that analysis by evaluating the normative assumptions underlying it. It does so from a broadly Kantian perspective. I begin by highlighting assumptions that could benefit from elaboration and defense. These (...) concern justice, anthropocentrism, imputability, and temporal perspectives. Lastly, I consider Kant’s long-term view of humanity to supplement any short-termist limitations. (shrink)

Why has the flow of big, world-changing ideas slowed down? A provocative look at what happens next at the frontiers of human knowledge. The history of humanity is the history of big ideas that expand our frontiers—from the wheel to space flight, cave painting to the massively multiplayer game, monotheistic religion to quantum theory. And yet for the past few decades, apart from a rush of new gadgets and the explosion of digital technology, world-changing ideas have been harder to come (...) by. Since the 1970s, big ideas have happened incrementally—recycled, focused in narrow bands of innovation. In this provocative book, Michael Bhaskar looks at why the flow of big, world-changing ideas has slowed, and what this means for the future. Bhaskar argues that the challenge at the frontiers of knowledge has arisen not because we are unimaginative and bad at realizing big ideas but because we have already pushed so far. If we compare the world of our great-great-great-grandparents to ours today, we can see how a series of transformative ideas revolutionized almost everything in just a century and a half. But recently, because of short-termism, risk aversion, and fractious decision making, we have built a cautious, unimaginative world. Bhaskar shows how we can start to expand the frontier again by thinking big—embarking on the next Universal Declaration of Human Rightsor Apollo mission—and embracing change. (shrink)

The reform of China’s one-child policy allows families to have more children and thus may affect anticipation of intergenerational succession of family businesses and drive family firms to improve their corporate social responsibility (CSR). Using a difference-in-differences design, we find that the reform positively affects the CSR of family firms. We also find that the positive impact is more pronounced for family firms whose owners have fewer children, have no son, and have not yet surpassed reproductive age (older than 50), (...) which confirms the theory that anticipation of intergenerational succession drives CSR in such firms. Moreover, we find that the positive impact is more pronounced for firms that operate in environments where CSR is more strategically important. We validate our findings by showing that the reform prompts investment in value-enhancing CSR and curtails short-termism. This study offers novel evidence that government policies conducive to intergenerational succession in family firms can lead to not only strategic CSR but also to truly ethical corporate behaviour. (shrink)

This chapter starts from the claim that the state is plagued with problems of political short-termism: excessive priority given to near-term benefits at the expense of benefits further in thefuture. One possible mechanism to reduce short-termism involves apportioning greater relative political influence to the young, since younger citizens generally have greater additional life expectancy than older citizens and thus it looks reasonable to expect that they have preferences that are extended further into the future. But the (...) chapter shows that this is unlikely to make states significantly less short-termist: no empirical relationship has been found between age and willingness to support long-termist policies. Instead, the chapter proposes a more promising age-based mechanism. States should develop youth citizens’ assemblies that ensure accountability to future generations through a scheme of retrospective accountability. (shrink)

Purpose – This aim of this paper was to highlight the awareness of ethical issues across the group of information systems professionals from a range of geographical regions. Design/methodology/approach – An initial survey was conducted that informed in-depth interviews with 26 IS professionals from across the globe. The study identified that around 70 per cent of the sample were over 50 years old. This provided an opportunity to consider age-related differences in perception regarding ethical awareness of both current and emerging (...) technologies. Findings – The project revealed that the more mature IS professionals had a significantly higher level of awareness and perceived understanding regarding the importance of ethical issues than the younger IS professionals. Research limitations/implications – The research was limited to IS professionals and so the findings do not generalise further. Future research would be beneficial to find out if the higher level of ethical awareness is also evident across older people in general or whether it is specific to technology professionals. Practical implications – IS professionals need to be exposed to high standards and expectations of ethical behaviour from senior colleagues, as well as embedding this within technical education. Social implications – Caution with regards to youth culture and youthitisation of the workforce needs to be exerted to avoid rash decision-making and short-termism, which could undermine progress and development. A change in the view of employers to older workers will also require a change in attitudes across Western society, particularly as demographics continue to skew towards an aging population. Originality/value – This paper provides new insight into the ethical awareness of older employees and goes some way to dispel the myths surrounding stereotypes of older workers as being fearful of technology and resistant to change. (shrink)

This chapter offers an overview of the serious challenges with which democracies must contend in the face of increasing climate destabilization and menacing environmental breakdown. After a brief introduction, the second section will discuss various accounts of what democracyDemocracy is or should be, from liberal and republican to deliberative and radical, and briefly indicate which difficulties these accounts face. The third section diagnoses democracy’s climate-related weaknesses. As a global and long-term intergenerational problem that is connected to deeply entrenched economic fossil (...) fuel infrastructure, climate change challenges national and usually short-termist democratic governments to consider noncitizens (especially the global poor, nonhuman beings, and future generations) as well as safeguard the basic safety of the populace and secure constitutionally guaranteed rights of citizens. The fourth and fifth sections provide an overview of the many remedies found in the literature, including eco-authoritarian proposals for less democracy, which some authors either recommend or predict and fear. Section “More Democracy” discusses a host of proposals for more democracy, from expansion to previous noncitizens and deeper citizen participation, including climate disobedience, to institutional reforms, especially regarding future people. The chapter ends with suggestions for how climate change might force democracies to adapt, including the alternative between eco-fascism and eco-socialism that some see as a likely prospect. (shrink)

Dieses Buch versucht die Leerstelle bei der wissenschaftlichen Auseinandersetzung mit den Defekten der Demokratie zu füllen. Zwar blüht die Demokratieforschung, doch die systemimmanenten Defekte der Demokratie genießen eine vergleichsweise geringe (wenngleich wachsende) wissenschaftliche Aufmerksamkeit. Zu diesen Problemen zählen etwa ihr „short-termism“ und die „Unbeständigkeit der Zahl“, die Neigung zur „Tyrannei der Mehrheit“ und Kompetenzmängel beim Demos wie beim Führungspersonal. Die Autoren dieses Bandes – renommierte Experten auf dem Gebiet der Demokratieforschung – greifen je einen Defekt heraus, beleuchten ihn (...) eingehend und diskutieren institutionenreformerische Lösungsvorschläge. (shrink)

Despite decades of theorising and empirical research, the problems of corporate governance seem intractable, particularly the relationships between investors and companies. The thought experiment in this paper asks us to look at the problem through a fresh lens. It draws on the quaint British legal custom of calling shareholders “members”, and then uses the political philosopher Michael Walzer’s idea of membership in states, clubs, neighbourhoods, and families to draw lessons for the corporate world. This paper suggests that seeing how Walzer (...) conceives “strangers” in a polity, with fewer rights but a path to membership, lets us rethink shareholder rights as something to be earned, through engagement and commitment, that is, through stewardship. Rethinking what membership of a company might mean points to a pragmatic escape from short-termism without institutional reform. (shrink)

In response to the claim that democracies are inherently short-termist, this article argues for a new way to understand them as being committed to future generations. If taking turns among rulers and ruled is a normative idea inherent to the concept of democracy, then such turn-taking commits democrats to a fair turn with future generations.

The article compares Pope Francis's encyclical “LAUDATO SI” (2015) and the report by the Club of Rome, “”ome On!: Capitalism, Short-termism, Population and the Destruction of the Planet” (2018), in how they harness the narrative potential of the concept of home. Both with overtly religious and entirely secular arguments, the narrative of our common home is presented as a possible alternative to the prevailing narrative of growth today. The metaphor of home possesses not only conceptual but also generative (...) power to offer concrete solutions to two of humanity's most pressing issues today: the problem of waste and the problem of climate change. The narrative of home activates the power of local places while simultaneously seeking global balance on a worldwide scale. The study focuses on how the narrative of home transforms the relationship with places and the balance between the local and the global. (shrink)

While in the realm of scholarly debate on intergenerational justice the mechanism of a transgenerational intertwinement has been often adopted as a chief conceptual device in view of overcoming ethical short-termism and legitimizing duties towards future generations, this paper aims at showing that there are good reasons for considering the opposite outcome. Drawing on three paradigmatic examples taken from three mainstream approaches in the debate—Rawls’s contractualism, Gauthier’s contractarianism, and indirect reciprocity—I will show how the grammar of presentism is (...) still largely operative under the surface of theories explicitly recurring to such a device and thereby advocating a chain of duties capable to reach the remote future. A short closing section will be devoted to endorsing a radical reorientation in ethics, such that a direct link to future invocations will be considered as a promising strategy for genuinely justifying intergenerational obligations. (shrink)

How far do cultures affect the future of the planet? Can the debate on the environment and global warming be influenced by the cultures of East and West understanding each other better? In this consistently provocative dialogue, two of the most influential thinkers of recent times propose that only a 'human revolution' - a shift in the hearts and minds of individuals - can stimulate a revolution in humanity's relationship with the planet. Such a planetary revolution first requires a transformation (...) of moral and political leadership, and an orientation towards the future rather than a preoccupation with the short-termist policies of the present. Responding to humanity's ills from the Buddhist perspective, and with all the accumulated wisdom of the eastern philosophical tradition, Daisaku Ikeda calls for politicians to take as their mainstays a respect for the dignity of life and an eloquence to inspire in people a sense of community and courage. Correspondingly, renowned western economist and scholar of education Ricardo Diez-Hochleitner stresses the importance of proper educational planning and development in addressing the challenges posed by poverty, inequality and climate change. While acknowledging the scale of the task that lies ahead, both men offer an inspiring and hopeful vision for the future. (shrink)

Abstract: We examine how trustworthy behaviour can be achieved in the financial sector. The task is to ensure that firms are motivated to pursue long-term interests of customers rather than pursuing short-term profits. Firms’ self-interested pursuit of reputation, combined with regulation, is often not sufficient to ensure that this happens. We argue that trustworthy behaviour requires that at least some actors show a concern for the wellbeing of clients, or a respect for imposed standards, and that the behaviour of (...) these actors is copied in such a way that it becomes a behavioural norm. We briefly suggest what such behavioural norms might need to be if trustworthy behaviour is to be achieved, and consider how they might be supported; we describe the research that is necessary in order to understand these norms in more detail. We argue that the norms of traders are different from the norms of those engaged in other activities, since they are inevitably self-interested, and we consider the risk that traders’ norms might undermine those of other actors. We analyse the task for governance in dealing with this problem, and the role which leadership by a corporate board and management might play in doing this. We describe the need for further research in to describe how this might be done. (shrink)

Sustainable investment (SI), which integrates social, environmental and ethical issues, has grown from a niche market of individual ethical investors to embrace institutional investors (e.g. pension funds) resulting in £764 billion in assets under management in the UK alone [Eurosif, 2008 : ‘European SRI Study 2008’ (Eurosif, Paris)]. Explaining this growth is complex, involving shifts in personal and collective values, reactions to corporate scandals, scientific and media pronouncements about climate change, Government initiatives, responses from financial markets and the influence of (...) SI innovators in The City of London. The article examines the influence of human agency through interviews with 14 SI champions who have variously been responsible for launching SI funds and changing investment processes and organisational structures in order to enhance SI. Interviewees were asked about their motivations and persuasive strategies, the obstacles they faced and how they overcame them as well as broader implications of SI for financial markets. The following key categories inform the results and the discussion: Values; Conservatism, Antipathy and Incredulity; Optimism and Sympathy from Insiders; The Social and Political Context; The Business Case; Organisational Constraints; Inappropriate forms of Remuneration; Short-termism; The Nature of Capitalism. Three discourses were also identified. The first is the necessity to make a business case for SI; the second is the benefits that SI can bring to the quest of overcoming short-termism; the third is a belief that for SI to have a significant influence, greater government intervention is required. (shrink)

This paper builds on previous literature on corporate governance and sustainability by studying the relation between the adoption of multiple voting shares (MVS) and environmental, social and governance (ESG) performance. More specifically, it hypothesises that controlled companies with MVS have lower sustainability performance than controlled companies without MVS because of different shareholders incentives. We rely on a proprietary dataset that includes 1,940 firm-year observations from 11 European countries, between 2016 and 2018 and we conduct multivariate analyses. To account for endogeneity (...) and to further strengthen the results, we performed a difference-in-differences (diff-in-diff) analysis. We find that companies controlled by a dominant shareholder through MVS have lower sustainability performance compared to controlled companies without MVS. (shrink)

In a recent scholarly debate, the Anthropocene concept has been criticized for diverting attention from the political aspects of contemporary environmental crises, not least by way of the long timescales it implies. This article therefore takes on the matter of long-termism as an historical and political phenomenon, by applying a conceptual historical perspective. Examples are drawn from historical studies of forest politics. It is argued that conceptions of the long term, as in all concepts in political language, are historical (...) and therefore problematic to legitimately define conclusively. However, many of the environmental crises looming in our time do indeed call for long-term perspectives. As a solution in accordance with its historical and democratic conceptual character, it is suggested that political long-termism paradoxically can and should be constantly deliberated upon and renewed in the short term. Its conceptual history can then serve two purposes: First, history can offer exempla of how long-termism can be conceptualized and institutionalized in ways that encourage continuous deliberation and reconceptualization. Second, historical conceptualizations of the long term can be drawn upon, both negatively and positively, in this continuous deliberation. (shrink)

In this book, T. L. Short corrects widespread misconceptions of Peirce's theory of signs and demonstrates its relevance to contemporary analytic philosophy of language, mind and science. Peirce's theory of mind, naturalistic but nonreductive, bears on debates of Fodor and Millikan, among others. His theory of inquiry avoids foundationalism and subjectivism, while his account of reference anticipated views of Kripke and Putnam. Peirce's realism falls between 'internal' and 'metaphysical' realism and is more satisfactory than either. His pragmatism is not (...) verificationism; rather, it identifies meaning with potential growth of knowledge. Short distinguishes Peirce's mature theory of signs from his better-known but paradoxical early theory. He develops the mature theory systematically on the basis of Peirce's phenomenological categories and concept of final causation. The latter is distinguished from recent and similar views, such as Brandon's, and is shown to be grounded in forms of explanation adopted in modern science. (shrink)

In this book, T. L. Short places the notorious difficulties of Peirce's important writings in a more productive light, arguing that he wrote philosophy as a scientist, by framing conjectures intended to be refined or superseded in the inquiries they initiate. He argues also that Peirce held that the methods and metaphysics of modern science are amended as inquiry progresses, making metaphysics a branch of empirical knowledge. Additionally, Short shows that Peirce's scientific work expanded empiricism on empirical grounds, (...) grounding his phenomenology and subverting the fact/value dichotomy, and that he understood statistical explanations in nineteenth-century science as reintroducing the idea of final causation, now made empirical. Those innovations underlie Peirce's late ideas of a normative science and of philosophy as a branch of science. Short's rich and original study shows us how to read Peirce's writings and why they are worth reading. (shrink)

The British government recently announced its willingness to expand the number of state–funded faith schools. It was a decision that aroused considerable controversy, with much of the unease centring around the allegedly divisive nature of such schools. In this article I defend faith schools against the charge that they necessarily undermine social cohesion and show how they can, in fact, legitimately be seen as a force for unity. In addition, I challenge the critics’ key assumption that non–denominational schools are inherently (...) better positioned than their faith–based counterparts to promote a tolerant society. (shrink)

W. B. Gallie's words about Peirce's cosmology—"the black sheep or white elephant of his philosophical progeny" (1952, p. 216)—have often been quoted, usually as a preface to giving a better account of the animal. That he attributed the view to 'contemporary philosophers' and did not assert it himself has usually been ignored. True, Gallie did argue that the "cosmology is a failure, and an inevitable failure" (p. 236), but he also said that Peirce himself "recognized … that his work in (...) this field was imperfect and sketchy" (p. 215), and he concluded the chapter, and his book, with an extremely sympathetic account of all that is nevertheless of enduring value in that failure. After studying Peirce's writings of his.. (shrink)

Two aspects of Peirce’s mature philosophy seem to me not to have been sufficiently appreciated. They are its empiricist method and its continuity with his scientific research. The research led to and justified the method.1Ground must be cleared before we can proceed. Simplistic ideas of the empirical must be swept aside and Peirce’s empiricism accurately identified. We must also distinguish two theories of meaning that have been associated with empiricist philosophies and show that Peirce combined them ; this will be (...) essential to Section 6. Only then can we get down to work. Peirce’s experimental and other studies of observation showed that a science of.. (shrink)

This article aims to examine journalists' adversarial challenges within the Australian political news interview. Within the Australian context, journalists tend to challenge interviewees: by challenging the content of the prior turn, by `interrupting' the prior turn, and by initially presenting their challenge as a freestanding assertion, not attributed to a third party. As a result, journalists could be interpreted as expressing their own perspective on the topic at hand, rather than maintaining a neutralistic stance. Although the challenging nature of journalistic (...) questions has been previously noted within the Australian context, there have been few analyses of such challenges. Using the framework of conversation analysis, the aim of the following article is to examine adversarial challenges in more detail. In particular, the article will focus on how interviewers and interviewees collaboratively produce the political news interview in such a way as to avoid accusations of bias or non-neutrality. First, the article will focus on the challenging nature of the IR's turn, by examining the various techniques used by journalists to ensure that they maintain a neutralistic stance. Second, it will examine the way in which IEs respond to such adversarial challenges. It will show how although politicians do not overtly accuse IRs of bias or impartiality, they clearly orient to the challenging nature of the journalists' turn. (shrink)

Geoffrey Short; Prejudice, Power and Racism: some reflections on the anti-racist critique of multi-cultural education, Journal of Philosophy of Education, Volum.