ABSTRACT The financial crisis was in large part caused, prolonged, and worsened by a series of government actions and interventions. The housing boom and bust that precipitated the crisis were enabled by extraordinarily loose monetary policy. After the housing boom came to an end, the Federal Reserve misdiagnosed financial markets' uncertainty about the location and value of risky subprime mortgage‐backed securities as being, instead, a liquidity problem, and it took inappropriate compensatory actions that had side effects that included raising the (...) price of oil. Finally, in mid‐September 2008, the government's ad‐hoc bailouts, and the unpredictable terms of the proposed tarp legislation, appear to have caused a sharp spike in uncertainty in the financial markets. (shrink)

Currently in the United Kingdom, anyone donating gametes has the status of an open-identity donor. This means that, at the age of 18, persons conceived with gametes donated since April 1, 2005 have a right to access certain pieces of identifying information about their donor. However, in early 2015, the UK Parliament approved new regulations that make mitochondrial donors anonymous. Both mitochondrial donation and gamete donation are similar in the basic sense that they involve the contribution of gamete materials to (...) create future persons. Given this similarity, this paper presumes that both types of donor should be treated the same and made open-identity under the law, unless there is a convincing argument for treating them differently. I argue that none of the existing arguments that have been made so far in favor of mitochondrial donor anonymity are convincing and mitochondrial donors should therefore be treated as open-identity donors under UK law. (shrink)

To a student audience seduced by the claims of a ‘secular Christianity’, Professor Gordon Rupp once urged the combined loyalties of ‘worldmanship’ and ‘other-worldmanship’. The Muslim world shows little friendship to secularist ideologies which explicitly reject the eschatological dimension, but Muslims are increasingly involved in secularising processes; many of these are ‘Islamised’, if they are compatible with Islamic social or political ideals, and the stigma of bid‘ah , innovation, is thereby avoided. A Lebanese author, Muhammad Darwazah, in his Dustūr al-Qur’ (...) ānī , Cairo 1956, advocated a ‘Qur'ānic Constitution’ for the modern world since the Qur'ān’s world-view is both in-worldly and other-worldly: ‘Islam is a religion of the world , of government, society, morals and order, to the same extent as it is a religion of faith and belief and the next world .’. (shrink)

"The picture of Hume clinging timidly to a raft of custom and artifice, because, poor skeptic, he has no alternative, is wrong," writes John Stewart. "Hume was confident that by experience and reflection philosophers can achieve true principles." In this revisionary work Stewart surveys all of David Hume's major writings to reveal him as a liberal moral and political philosopher. Against the background of seventeenth-and eighteenth-century history and thought, Hume emerges as a proponent not of conservatism but of reform. (...) Stewart first presents the dilemma over morals in the modern natural-law school, then examines the new approach to moral and political philosophy adopted by Hume's precursors Shaftesbury, Mandeville, Hutcheson, and Butler. Illuminating Hume's explanation of the standards and rules that should govern private and public life, the author challenges interpretations of Hume's philosophy as conservative by demonstrating that he did not dismiss reason as a key factor determining right and wrong in moral and political contexts. Stewart goes on to show that Hume viewed private property, the market, contracts, and the rule of law as essential to genuine civilized society, and explores Hume's criticism of contemporary British beliefs concerning government, religion, commerce, international relations, and social structure. Originally published in 1992. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905. (shrink)

According to QBism, quantum states, unitary evolutions, and measurement operators are all understood as personal judgments of the agent using the formalism. Meanwhile, quantum measurement outcomes are understood as the personal experiences of the same agent. Wigner’s conundrum of the friend, in which two agents ostensibly have different accounts of whether or not there is a measurement outcome, thus poses no paradox for QBism. Indeed the resolution of Wigner’s original thought experiment was central to the development of QBist thinking. The (...) focus of this paper concerns two very instructive modifications to Wigner’s puzzle: One, a recent no-go theorem by Frauchiger and Renner, and the other a thought experiment by Baumann and Brukner. We show that the paradoxical features emphasized in these works disappear once both friend and Wigner are understood as agents on an equal footing with regard to their individual uses of quantum theory. Wigner’s action on his friend then becomes, from the friend’s perspective, an action the friend takes on Wigner. Our analysis rests on a kind of quantum Copernican principle: When two agents take actions on each other, each agent has a dual role as a physical system for the other agent. No user of quantum theory is more privileged than any other. In contrast to the sentiment of Wigner’s original paper, neither agent should be considered as in “suspended animation.” In this light, QBism brings an entirely new perspective to understanding Wigner’s friend thought experiments. (shrink)

This book examines the different conceptions of the individual that have emerged in recent new approaches in economics, including behavioral economics, experimental economics, social preferences approaches, game theory, neuroeconomics, evolutionary and complexity economics, and the capability approach. These conceptions are classified according to whether they seek to revise the traditional atomist individual conception, put new emphasis on interaction and relations between individuals, account for individuals as evolving and self-organizing, and explain individuals in terms of capabilities. The method of analysis uses (...) two identity criteria for distinguishing and re-identifying individuals to determine whether these different individual conceptions successfully identify individuals. Successful individual conceptions account for sub-personal and supra-personal bounds on single individual explanations. The former concerns the fragmentation of individuals into multiple selves; the latter concerns the dissolution of individuals into the social. The book develops an understanding of bounded individuality, seen as central to the defense of human rights. (shrink)

This is a study in the philosophy of social science. It takes the form of a comparative critique of three contemporary approaches: ordinary language philosophy, hermeneutics and critical theory, represented here respectively by Ludwig Wittgenstein, Paul Ricoeur and Jürgen Habermas. Part I is devoted to an exposition of these authors' views and of the traditions to which they belong. Its unifying thread is their common concern with language, a concern which nonetheless reveals important differences of approach. For whereas ordinary language (...) philosophers tend to treat linguistic activity as the ultimate object of inquiry, both Ricoeur and Habermas regard it as a medium which betrays more fundamental dimensions of human experience and the social world. Part II complements the exposition with a critical analysis of its central themes: the conceptualisation of action, the methodology of interpretation, and the theory of reference and truth. The author defends many aspects of the work of Ricoeur and Habermas, such as the emphasis on power and ideology, the strategy of depth interpretation, and the link between consensus and truth; but he argues that there are serious deficiencies and obscurities in their work. He proposes solutions to these difficulties and concludes with a sketch of a critical and rationally justified theory for the interpretation of action - a critical hermeneutics. (shrink)

Mitochondrial DNA (mtDNA) diseases are a group of neuromuscular diseases that often cause suffering and premature death. New mitochondrial replacement techniques (MRTs) may offer women with mtDNA diseases the opportunity to have healthy offspring to whom they are genetically related. MRTs will likely be ready to license for clinical use in the near future and a discussion of the ethics of the clinical introduction ofMRTs is needed. This paper begins by evaluating three concerns about the safety of MRTs for clinical (...) use on humans: (1) Is it ethical to use MRTs if safe alternatives exist? (2) Would persons with three genetic contributors be at risk of suffering? and (3) Can society trust that MRTs will be made available for humans only once adequate safety testing has taken place, and that MRTs will only be licensed for clinical use in a way that minimises risks? It is then argued that the ethics debate about MRTs should be reoriented towards recommendingways to reduce the possible risks of MRT use on humans. Two recommendations are made: (1) licensed clinical access to MRTs should only be granted to prospective parents if they intend to tell their children about their MRT conception by adulthood; and (2) sex selection should be used in conjunction with the clinical use ofMRTs, in order to reduce transgenerational health risks. (shrink)

Methyl CpG binding protein 2 (MeCP2) was initially isolated as an exclusive reader of DNA methylated at CpG. This recognition site, was subsequently extended to other DNA methylated residues and it has been the persisting dogma that binding to methylated DNA constitutes its physiologically relevant role. As we review here, two very recent papers fundamentally change our understanding of the interactions of this protein with chromatin, as well as its functional attributes. In the first one, the protein has been shown (...) to bind to tri‐methylated histone H3 (H3K27me3), providing a hint for what might turn out to be the first described chromodomain‐containing protein reader in the animal kingdom, and unequivocally demonstrates the ability of MeCP2 to bind to nonmethylated CpG regions of the genome. The second paper reports how the protein dynamically participates in the formation of constitutive heterochromatin condensates. Histone H3K27me3 is a critical component of this form of chromatin. (shrink)

Introduction Few areas of social inquiry are more exciting and important, and yet at the same time more marked by controversy and dispute, than the area ...

ABSTRACTIn “The Politics of Getting It Right,” Russell Muirhead has contended in this journal that democracy is valuable because of its procedural legitimacy rather than because of the epistemic values of “getting things right.” However, pure procedural theories of legitimacy fail. Thus, if democracy is legitimate, it will have to be due partly to its epistemic advantages. There are two ways of thinking about these advantages. One approach, associated most prominently with David Estlund and Hélène Landemore, equates the epistemic advantages (...) of democracy with its ability to approximate a procedure-independent standard of correctness. The other, associated with Fabienne Peter, explicitly rejects that standard. Peter’s view, however, is incapable of answering challenges against pure procedural theories of legitimacy. (shrink)

The essays in this book - all of them published here for the first time - provide a long-overdue critical discussion of Jürgen Habermas's cascade of ideas. These are topped off by a freshet of original Habermas: in the final essay, he replies to the criticism developed in the preceding contributions and to other recent assessments of his work, provides an important clarification of his earlier views, and reveals the direction of his current thought.Each essay probes a particular theme in (...) Habermas's work, and each presents both an exposition and a critique. Among the subjects covered are Habermas's theory of knowledge-constitutive interests, his account of language and truth, his "overcoming" of hermeneutics, the concept of universal pragmatics, the orientation of his thought relative to the Marxist tradition, and his project of analyzing the crisis tendencies of capitalism within the context of evolutionary theory.The contributors are philosophers and social theorists of international standing, most of them affiliated with German, English, and American universities. They are Agnes Heller, Rudiger Bubner, Thomas McCarthy, Henning Ottmann, Mary Hesse, Steven Lukes, Anthony Giddens, Michael Schmid, Andrew Arato, and the editors. The editors have also contributed a substantial introduction outlining the central contours of Habermas's work and summarizing the main arguments of the essays.John B. Thompson is a Fellow of Jesus College, Cambridge, and David Held is Lecturer in Politics, University of York. (shrink)

We evaluate the “story grammar” approach to story understanding from three perspectives. We first examine the formal properties of the grammars and find only one to be formally adequate. We next evaluate the grammars empirically by asking whether they generate all simple stories and whether they generate only stories. We find many stories that they do not generate and one major class of nonstory that they do generate. We also evaluate the grammars' potential as comprehension models and find that they (...) would add nothing to semantic models that focus on the story content. Hence we advocate a story content oriented approach to studying story understanding instead of the structural story grammar approach. (shrink)

Three experiments investigated the relationship between subjective experience and attentional lapses during sustained attention. These experiments employed two measures of subjective experience to examine how differences in awareness correspond to variations in both task performance and psycho-physiological measures . This series of experiments examine these phenomena during the Sustained Attention to Response Task . The results suggest we can dissociate between two components of subjective experience during sustained attention: task unrelated thought which corresponds to an absent minded disengagement from the (...) task and a pre-occupation with one's task performance that seems to be best conceptualised as a strategic attempt to deploy attentional resources in response to a perception of environmental demands which exceed ones ability to perform the task. The implications of these findings for our understanding of how awareness is maintained on task relevant material during periods of sustained attention are discussed. (shrink)

Although organizational commitment continues to interest researchers because of its positive effects on organizations, we know relatively little about the effects of the ethical context on organizational commitment. As such, we contribute to the organizational commitment field by assessing the effects of ethical climates (Victor and Cullen, 1987, 1988) on organizational commitment. We hypothesized that an ethical climate of benevolence has a positive relationship with organizational commitment while egoistic climate is negatively related to commitment. Results supported our propositions for both (...) a benevolent climate and an egoistic climate. We also hypothesized that a principled climate is positively related to organizational commitment for professional workers but has no relationships for nonprofessional workers. Results supported this hypothesis. (shrink)

First published in the most ambitious international philosophy project for a generation; the _Routledge Encyclopedia of Philosophy_. _Logic from A to Z_ is a unique glossary of terms used in formal logic and the philosophy of mathematics. Over 500 entries include key terms found in the study of: * Logic: Argument, Turing Machine, Variable * Set and model theory: Isomorphism, Function * Computability theory: Algorithm, Turing Machine * Plus a table of logical symbols. Extensively cross-referenced to help comprehension and add (...) detail, _Logic from A to Z_ provides an indispensable reference source for students of all branches of logic. (shrink)

This book was the first single-authored book that covered ecological ethics and theology. It discusses key philosophical, theological, and ecological issues for Christians and other concerned citizens.

Extending the dialogue on corporate social performance as descriptive stakeholder management, we examine differences in CSP activity between family and nonfamily firms. We argue that CSP activity can be explained by the firm’s identity orientation toward stakeholders. Specifically, individualistic, relational, or collectivistic identity orientations can describe a firm’s level of CSP activity toward certain stakeholders. Family firms, we suggest, adopt a more relational orientation toward their stakeholders than nonfamily firms, and thus engage in higher levels of CSP. Further, we invoke (...) collectivistic identity orientation to argue that the higher the level of family or founder involvement within a family firm, the greater the level of CSP toward specific stakeholders. Using social performance rating data from 1991 to 2005, we find that family and nonfamily firms demonstrate notable differences in terms of social initiatives and social concerns. We also find that the level of family and founder involvement is related to the type and frequency of a family firm’s social initiatives and social concerns. (shrink)

In The Media and Modernity, Thompson develops an interactional theory of communication media that distinguishes between three basic types of interaction: face-to-face interaction, mediated interaction, and mediated quasi-interaction. In the light of the digital revolution and the growth of the internet, this paper introduces a fourth type: mediated online interaction. Drawing on Goffman’s distinction between front regions and back regions, Thompson shows how mediated quasi-interaction and mediated online interaction create new opportunities for the leakage of information and symbolic content from (...) back regions into front regions, with consequences that can be embarrassing, damaging and, on occasion, hugely disruptive. The growing role of mediated quasi-interaction and mediated online interaction has reconstituted the political field so that political life now unfolds in an information environment that is much more difficult to control, creating a permanently unstable arena in which leaks, revelations and disclosures are always capable of disrupting the most well-laid plans. (shrink)