Venture capital plays a critical role in spurring innovation, encouraging entrepreneurship, and generating wealth. As a part of the financial market, venture capital is affected by market downturns and economic cycles, but it also creates bubbles that negatively impact the economy and social stability. Although the venture capital market is a potential source of systemic risk, there has been little study of its contagion risk mechanism, or how the failure of a single market participant can threaten systemic stability. We use (...) a multilayer network analysis to model the risk contagion in a venture capital market when an external shock impacts a venture capital firm or start-up company in order to understand how risk can spread through connections between market participants and harm total market robustness. We use our model to describe both the direct and indirect channels in the venture capital market that propagates risk and loss. Using real data from the worldwide venture capital market, we find that the venture capital market exhibits the same “robust-yet-fragile” feature as other financial systems. The coupling effect of direct and indirect risk contagions can cause abrupt transitions and large-scale damage even when the turbulence is minor. We also find that the network structure, connectivity, and cash position distribution of market participants impact market robustness. Our study complements other emerging research on measuring systemic risk through multiple connections among market players and on the feedback risk contagion between the financial industry and the real economy. (shrink)

Changing the Wor(l)d draws on feminist publishing, postmodern theory and feminist autobiography to powerfully critique both liberal feminism and scholarship on the women's movement, arguing that both ignore feminism's unique contributions to social analysis and politics. These contributions recognize the power of discourse, the diversity of women's experiences, and the importance of changing the world through changing consciousness. Young critiques social movement theory and five key studies of the women's movement, arguing that gender oppression can be understood only in relation (...) to race, sexuality, class and ethnicity; and that feminist activism has always gone beyond the realm of public policy to emphasize improving women's circumstances through transforming discourse and consciousness. Young examines feminist discursive politics, critiques social science methodology, and proposes an alternative approach to understanding the women's movement. This approach explores feminist publishing and feminist autobiographical writing as examples of discursive activism with broadly subversive potential. (shrink)

Provability logics with many modal operators for progressions of theories obtained by iterating their consistency statements are introduced. The corresponding arithmetical completeness theorem is proved.

A general equation is derived describing the concentration of all possible complexes of a central molecule with a set of ligands bound to the central molecule. This deduction allows the reaction rate constants for the binding of a given molecule to the central molecule to depend on the species of molecules already bound and the location of the molecules already bound. The model thus allows for structural alteration of the central molecule by binding. Functions describing the concentration dependence of any (...) effect whatever depending on the distribution of complexes are deduced. Possible applications and methods of application are indicated.II est dérivé une équation qui décrit la concentration des toutes les complexes d'une molécule centrale avec une collection de ligands connectés à la molécule centrale. La déduction montre comme les coefficients de la rapidité de reaction entre la molécule centrale et les molécules de la collection dépend de l'espèce et de la location des molécules déjà connectées.La modèle dérivée de l'équation montre les changements structurelles par la connection. Les functions qui décrivent la dependence de chaque effet à la concentration, sont dérivés. Ces effects dépendent aussi à la distribution des complexes. Des applications et des méthodes sont indiqués.Eine allgemeine Vergleichung hat man bekommen welche die Konzentration aller möglichen Komplexen eines zentralen Moleküles mit einer Reihe von „Ligands” verbunden mit dem zentralen Molekül beschreibt. Diese Folgerung gestattet dass die Reaktiongeschwindigkeit Konstanten für die Bindung eines gegebenen Moleküles mit dem zentralen Molekül abhÄngt von den Arten schon gegebenen Molekülen und die Ortsbestimmung der schon gebundenen Molekülen. Das Model zeigt die strukturelle Änderungen des zentralen Moleküls durch Bindung. Funktionen, die die Konzentrationband jedes Effektes beschreiben dass abhÄngt von der Distribution der Komplexen, sind abgeleitet.Mögliche Anwendungen und Methoden von Anwendung sind dargelegt. (shrink)

Carole Pearce's argument against African philosophy is founded on a set of factual flaws and the fallacious assumption that African philosophy is equivalent to ethnophilosophy, which she defines as a form of intellectual apartheid founded on irrational belief systems. I argue that African philosophy is in no way qualitatively different from, say, French or Chinese philosophy, and that ethnophilosophy is merely one aspect of it But ethnophilosophy could play the important role of critically evaluating African ethnic belief systems and the (...) interpretation of such by Western anthropologists. In general, African philoso phy is nothing more than the philosophical research (of whatever order) carried out by African philosophers in the context of African research paradigms. (shrink)

Bursill-Hall, writing as a linguist, has produced a book of interest and use to all students of philosophy who are intrigued either by medieval or by modern theories of language, or by both. Bursill-Hall’s book is the first full-length presentation of this material in English. After a brief, not to say, desultory, survey of the history of linguistic theory from the Greeks until the appearance of the so-called Modistae, the author discusses the descriptive technique and the terminology of the speculative (...) grammarians. The third chapter, "Metalanguage," offers a valuable analysis of the basic "elements" and "categories" of modistic grammar. One especially striking feature of this chapter is the author’s account of the sequence of operations through which a vox, or meaningless sound, becomes, first, a dictio, or sound capable of signifying, and, then, a pars orationis, a part of speech or word-class, capable of entering into syntactic relations with other partes orationis so as to produce a meaningful and well-formed sentence. The next four chapters form the core of the work. Taking as his primary sources the Belgian Siger of Courtrai, the German Thomas of Erfurt, and the Dane Martin of Dacia, Bursill-Hall expounds in detail the modistic treatments of the essential, specific and accidental features of the declinable and indeclinable word-classes and the modistic theories of syntax. An evaluative conclusion comparing modistic and modern linguistic theory is followed by a series of appendices in which detailed diagrams make visible the definitions and interrelations of the various modes and partes orationis in the texts of Siger, Thomas and Martin. The work includes a useful bibliography, a table of passages cited from medieval authors, an index of examples cited in the main text, an index of names and an index of subjects. The exposition and the apparatus combine to yield a volume of quickly apparent value for both reference and research. This said, and with due regard for the fact that the author is writing as a professional linguist, it must be said that a certain sense of philosophical disappointment cannot be suppressed. Looked at linguistically, speculative grammar is an attempt to inventory and describe those features of word-classes in virtue of which an element of language is potentially expressive of meaning and capable of entering into syntactic relations with other significant elements. Looked at philosophically, speculative grammar is a theory of the intelligibility of linguistic expressions—cp. Thomas of Erfurt, #225: the end served by a complete expression is "to express a composite mental concept and to generate a perfect understanding in the mind of the hearer." Intelligibility is seen in this theory as the product of the concurrence or interpenetration of the ontological constitution of extramental realities, the apprehensive powers of the intellect and the manners of signifying conferred by the intellect on the linguistic medium in accordance with its appreciation of extramental reality. The author is certainly aware of the philosophical matrix of the grammatical theories he rehearses. At the same time, he seems to give these underlying philosophical considerations rather short shrift. To say, as he does, that the Modistae "seem to have been unaware of... the fact that their theories were in fact a projection into reality of the basic patterns of the language in which they were expressed," is surely not to do justice to the complex ontological, epistemological and semantic issues informing their work. Similarly, a statement that comparison between modistic and modern theories faces the difficulty that "the medieval vision of man in his environment and the metaphysical theories of the world are entirely different from those of today" is, at best, uninformative and, at worst, a piece of vaporous historicism. At other times, it is not entirely clear what interpretation the author is recommending. This is especially true of his remarks about the inactive character of the modus intelligendi. While the Modistae were, after all, doing grammar and not epistemology or, should one say, rational psychology, still, their grammatical theory rests on their insistence that the forms of language are linked appropriately to the forms of being and it is the modus intelligendi activus that is responsible both for the possibility and the success of this linkage. This volume is well-produced and almost completely free of misprints. However, the obnoxiously high price asked by the publisher is not justified either by the quality of production or by the inclusion of numerous Latin citations; it only serves, I fear, as a barrier to the wide circulation the book deserves.—D. L. (shrink)

This paper addresses the significance of the general class of diffeomorphisms in the theory of general relativity as opposed to the Poincaré group in a special relativistic theory. Using Anderson's concept of an absolute object for a theory, with suitable revisions, it is shown that the general group of local diffeomorphisms is associated with the theory of general relativity as its local dynamical symmetry group, while the Poincaré group is associated with a special relativistic theory as both its global dynamical (...) symmetry group and its geometrical symmetry group. It is argued that the two groups are of equal significance as symmetry groups of their associated theories. (shrink)

Expressivists about normative thought and discourse traditionally deny that there are nondeflationary normative propositions. However, it has recently been suggested that expressivists might avoid a number of problems by providing a theory of normative propositions compatible with expressivism. This paper explores the prospects for developing an expressivist theory of propositions within the framework of cognitive act theories of propositions. First, I argue that the only extant expressivist theory of cognitive propositions—Michael Ridge's ‘ecumenical expressivist’ theory—fails to explain identity conditions for normative (...) propositions. Second, I argue that this failure motivates a general constraint—the ‘unity requirement’—that any expressivist theory of propositions must provide a unified nonrepresentational explanation of that in virtue of which propositional attitudes have the content that they have. Third, I argue that conceptual role accounts of content provide a promising framework in which to develop an expressivist theory of cognitive propositions. (shrink)