We create a database of company codes of ethics from firms listed on the Standard & Poor's 500 Index and, separately, a sample of small firms. The SEC believes that "ethics codes do, and should, vary from company to company." Using textual analysis techniques, we measure the extent of commonality across the documents. We find substantial levels of common sentences used by the firms, including a few cases where the codes of ethics are essentially identical. We consider these results in (...) the context of legal statements versus value statements. While legal writing often mandates duplication, we argue that value-based statements should be held to a higher standard of originality. Our evidence is consistent with isomorphic pressures on smaller firms to conform. (shrink)

We examine the occurrence of ethicsrelated terms in 10-K annual reports over 1994-2006 and offer empirical observations on the conceptual framework of Erhard et al. 2007). We use a pre-Sarbanes-Oxley sample subset to compare the occurrence of ethics-related terms in our 10-K data with samples from other studies that consider virtue-related phenomena. We find that firms using ethics-related terms are more likely to be "sin" stocks, are more likely to be the object of class action lawsuits, and are more likely (...) to score poorly on measures of corporate governance. The consistency of our results across these alternative measures of ethical behavior suggests that managers who portray their firm as "ethical" in 10-K reports are more likely to be systematically misleading the public. These results are consistent with the integrity-performance paradox. (shrink)

Over the past decade, corporate scandals have proliferated. These scandals, along with the emergence of the #MeToo movement and Environmental, Social, and Corporate Governance (ESG) mandates, have increased the scrutiny of corporations’ ethics culture. How have companies responded in terms of the language appearing in their public ethics documents? We compare the Code of Ethics in 2008 versus 2019 for a sample of S&P 500 firms. For the vast majority of firms, their Code of Ethics lengthened, with the average 2019 (...) code having 29% more words (about 1760 words) than the 2008 average. The language of the codes has also changed. Words such as _bribery, corruption, sustainability, speak up, bullying, slavery,_ and _human rights_ all saw significantly higher usage in the later period. We review possible reasons for the dramatic changes and suggest what questions remain about the motivations behind them. Whether the changes we observe are primarily intrinsically motivated or simply market responses to public pressures is yet to be determined. What is clear from our findings is that society seems to be entering a new age of increasingly moral—or, at least, moralized—corporate governance. (shrink)

A mutual fund family incubates a fund when it creates a privately subsidized fund not available to the general investing public. It destroys unsuccessful incubator funds. The few successful funds will report higher incubation returns than the market return in advertisements intended to attract money from individual investors. This practice is currently allowed by the SEC. The evidence is that incubation returns are not a good predictor of subsequent fund performance and likely serve to mislead unsuspecting investors.

A mutual fund family incubates a fund when it creates a privately subsidized fund not available to the general investing public. It destroys unsuccessful incubator funds. The few successful funds will report higher incubation returns than the market return in advertisements intended to attract money from individual investors. This practice is currently allowed by the SEC. The evidence is that incubation returns are not a good predictor of subsequent fund performance and likely serve to mislead unsuspecting investors.

Trust is both ethically important and essential for business but difficult to measure. This paper contributes toward clarifying the nature of trust in a way that is both conceptually helpful for ethical inquiries concerning business and pertinent to the measurement of trust as an element in organizations. Several papers hypothesize that increasing the role of trust in a corporation reduces the need for external monitoring and contracts. Assessing this important hypothesis requires a way to gauge whether a firm has a (...) trusting corporate culture. We develop an objective measure of trust in a firm’s corporate culture by counting the number of times 21 trust-related words appear in an important kind of document: the Management Discussion and Analysis section of the annual report. We report two significant findings: that, contrary to what one might think, firms with a trusting culture frequently use audit and control-type words and that trust is positively linked with subsequent share price volatility. We propose explanations of these findings with the hope of facilitating the objective measurement of trust and enhancement of a trusting atmosphere in corporate culture. (shrink)

On December 9, 1999, VA Linux issued shares to the public and left over $900 million on the table for investors. In the prospectus, the investment banker Credit Suisse First Boston (CSFB) stated it would receive a 7% gross spread as its compensation for underwriting the shares. Yet the SEC alleges some investors paid enormous commissions to CSFB in the form of a kick-back immediately after obtaining the IPO shares. Hence, CSFB had an economic interest in the IPO and there (...) was not a full distribution of shares. This apparent violation of NASD Rule 2110 raises questions as to the credibility of the financial markets. (shrink)

The presumption is that a broker executing a stock trade for a retail investor will get the investor the best possible price execution for the transaction. In fact, the broker often sells the retail investor’s trade to an intermediary for cash payment. The broker’s motivation to generate dealer profits seems to overcome the broker’s fiduciary responsibility to obtain the best execution price for the customer, raising ethical questions. Purchasers and internalizers of order flow in the market may cause prices quoted (...) on the NYSE to deteriorate, making all investors worse off. (shrink)

Philosophy and model theory frequently meet one another. Philosophy and Model Theory aims to understand their interactions -/- Model theory is used in every ‘theoretical’ branch of analytic philosophy: in philosophy of mathematics, in philosophy of science, in philosophy of language, in philosophical logic, and in metaphysics. But these wide-ranging appeals to model theory have created a highly fragmented literature. On the one hand, many philosophically significant mathematical results are found only in mathematics textbooks: these are aimed squarely at mathematicians; (...) they typically presuppose that the reader has a significant background in mathematics; and little clue is given as to their philosophical significance. On the other hand, the philosophical applications of these results are then scattered across disconnected pockets of papers, separated by decades or more. -/- The first aim of Philosophy and Model Theory, then, is to consider the philosophical uses of model theory. On a technical level, we try to show how philosophically significant results connect to one another, and also to state the best version of a result for philosophical purposes. On a philosophical level, we show how similar dialectical situations arise repeatedly, across fragmented debates in varied philosophical areas. -/- The second aim of Philosophy and Model Theory, though, is to consider the philosophy of model theory. Model theory itself is rarely taken as the subject matter of philosophising (contrast this, say, with the philosophy of biology, or the philosophy of set theory). But model theory is a beautiful part of pure mathematics, and worthy of philosophical study in its own right. (shrink)

By definition, pain is a sensory and emotional experience that is felt in a particular part of the body. The precise relationship between somatic events at the site where pain is experienced, and central processing giving rise to the mental experience of pain remains the subject of debate, but there is little disagreement in scholarly circles that both aspects of pain are critical to its experience. Recent experimental work, however, suggests a public view that is at odds with this conceptualisation. (...) By demonstrating that the public does not necessarily endorse central tenets of the “mental” view of pain (subjectivity, privacy, and incorrigibility), experimental philosophers have argued that the public holds a more “body-centric” view than most clinicians and scholars. Such a discrepancy would have important implications for how the public interacts with pain science and clinical care. In response, we tested the hypothesis that the public is capable of a more “mind-centric” view of pain. Using a series of vignettes, we demonstrate that in situations which highlight mental aspects of pain the public can, and does, recognize pain as a mental phenomenon. We also demonstrate that the public view is subject to context effects, by showing that the public’s view is modified when situations emphasizing mental and somatic aspects of pain are presented together. (shrink)

To desire is to be in a particular state of mind. It is a state of mind familiar to everyone who has ever wanted to drink water or desired to know what has happened to an old friend, but its familiarity does not make it easy to give a theory of desire. Controversy immediately breaks out when asking whether wanting water and desiring knowledge are, at bottom, the same state of mind as others that seem somewhat similar: wishing never to (...) have been born, preferring mangoes to peaches, craving gin, having world conquest as one's goal, having a purpose in sneaking out to the shed, or being inclined to provoke just for the sake of provocation. These varied states of mind have all been grouped together under the heading of ‘pro attitudes’, but whether the pro attitudes are fundamentally one mental state or many is disputed. (shrink)

Desires move us to action, give us urges, incline us to joy at their satisfaction, and incline us to sorrow at their frustration. Naturalistic work on desire has focused on distinguishing which of these phenomena are part of the nature of desire, and which are merely normal consequences of desiring. Three main answers have been proposed. The first holds that the central necessary fact about desires is that they lead to action. The second makes pleasure the essence of desire. And (...) the third holds that the central necessary fact about desires is that they open us to reward-based learning. (shrink)

In this work Tim Ingold provides a persuasive new approach to the theory behind our perception of the world around us. The core of the argument is that where we refer to cultural variation we should be instead be talking about variation in skill. Neither genetically innate or culturally acquired, skills are incorporated into the human organism through practice and training in an environment.They are as much biological as cultural.

Tim Bayne draws on philosophy, psychology, and neuroscience in defence of the claim that consciousness is unified. He develops an account of what it means to say that consciousness is unified, and then applies this account to a variety of cases - drawn from both normal and pathological forms of experience - in which the unity of consciousness is said to break down. He goes on to explore the implications of the unity of consciousness for theories of consciousness, for the (...) sense of embodiment, and for accounts of the self. The Unity of Consciousness draws on a wide range of findings within philosophy and the sciences of the mind to construct an account of the unity of consciousness that is both conceptually sophisticated and scientifically informed. (shrink)

can highlight how everyday rhythms complicate chronological orderings of past and present and how what appears 'utterly changed' repeats in fascinating ways ...

To understand the mind, we need to draw equally on the fields of cognitive science and neuroscience. But these two fields have very separate intellectual roots, and very different styles. So how can these two be reconciled in order to develop a full understanding of the mind and brain.This is the focus of this landmark new book.

Tim Button explores the relationship between words and world; between semantics and scepticism. -/- A certain kind of philosopher – the external realist – worries that appearances might be radically deceptive. For example, she allows that we might all be brains in vats, stimulated by an infernal machine. But anyone who entertains the possibility of radical deception must also entertain a further worry: that all of our thoughts are totally contentless. That worry is just incoherent. -/- We cannot, then, be (...) external realists, who worry about the possibility of radical deception. Equally, however, we cannot be internal realists, who reject all possibility of deception. We must position ourselves somewhere between internal realism and external realism, but we cannot hope to say exactly where. We must be realists, for what that is worth, and realists within limits. -/- In establishing these claims, The Limits of Realism critically explores and develops several themes from Hilary Putnam’s work: the model-theoretic arguments; the connection between truth and justification; the brain-in-vat argument; semantic externalism; and conceptual relativity. The book establishes the continued significance of these topics for all philosophers interested in mind, logic, language, or the possibility of metaphysics. (shrink)

Standard Type Theory, STT, tells us that b^n(a^m) is well-formed iff n=m+1. However, Linnebo and Rayo have advocated the use of Cumulative Type Theory, CTT, has more relaxed type-restrictions: according to CTT, b^β(a^α) is well-formed iff β > α. In this paper, we set ourselves against CTT. We begin our case by arguing against Linnebo and Rayo’s claim that CTT sheds new philosophical light on set theory. We then argue that, while CTT ’s type-restrictions are unjustifiable, the type-restrictions imposed by (...) STT are justified by a Fregean semantics. What is more, this Fregean semantics provides us with a principled way to resist Linnebo and Rayo’s Semantic Argument for CTT. We end by examining an alternative approach to cumulative types due to Florio and Jones; we argue that their theory is best seen as a misleadingly formulated version of STT. (shrink)

Neuropsychological results are increasingly cited in cognitive theories although their methodology has been severely criticised. The book argues for an eclectic approach but particularly stresses the use of single-case studies. A range of potential artifacts exists when inferences are made from such studies to the organisation of normal function – for example, resource differences among tasks, premorbid individual differences, and reorganisation of function. The use of “strong” and “classical” dissociations minimises potential artifacts. The theoretical convergence between findings from fields where (...) cognitive neuropsychology is well developed and those from the normal literature strongly suggests that the potential artifacts are not critical. The fields examined in detail in this respect are short-term memory, reading, writing, the organisation of input and output speech systems, and visual perception. Functional dissociation data suggest that not only are input systems organised modularly, but so are central systems. This conclusion is supported by findings on impairment of knowledge, visual attention, supervisory functions, memory, and consciousness. (shrink)

We build on Morgan’s deep conventionalist base by offering a pragmatic approach for achieving normative progress on sports most intractable problems (e.g. performance enhancemen...

Anthropology is a disciplined inquiry into the conditions and potentials of human life. Generations of theorists, however, have expunged life from their accounts, treating it as the mere output of patterns, codes, structures or systems variously defined as genetic or cultural, natural or social. Building on his classic work The Perception of the Environment, Tim Ingold sets out to restore life to where it should belong, at the heart of anthropological concern. Being Alive ranges over such themes as the vitality (...) of materials, what it means to make things, the perception and formation of the ground, the mingling of earth and sky in the weather-world, the experiences of light, sound and feeling, the role of storytelling in the integration of knowledge, and the potential of drawing to unite observation and description. Our humanity, Ingold argues, does not come ready-made but is continually fashioned in our movements along ways of life. Starting from the idea of life as a process of wayfaring, Ingold presents a radically new understanding of movement, knowledge and description as dimensions not just of being in the world, but of being alive to what is going on there. (shrink)

Much recent discussion has focused on the nature of artifacts, particularly on whether artifacts have essences. While the general consensus is that artifacts are at least intention-dependent, an equally common view is function essentialism about artifacts, the view that artifacts are essentially functional objects and that membership in an artifact kind is determined by a particular, shared function. This paper argues that function essentialism about artifacts is false. First, the two component conditions of function essentialism are given a clear and (...) precise formulation, after which counterexamples are offered to each. Second, ways to handle the counterexamples suggested by Randall Dipert and Simon Evnine are considered and rejected. Third, I then consider the prospects for restricting function essentialism to so-called technical artifacts, as Lynne Baker does, and argue that this, too, fails. This paper thereby consolidates the scattered literature on function essentialism and shows that, despite the seeming plausibility of the thesis, it should be rejected as an account of artifact essences. (shrink)

Despite a prevalence of articles exploring links between sport and art in the 1970s and 1980s, philosophers in the new millennium pay relatively little explicit attention to issues related to aesthetics generally. After providing a synopsis of earlier debates over the questions ‘is sport art?’ and ‘are aesthetics implicit to sport?’, a pragmatically informed conception of aesthetic experience will be developed. Aesthetic experience, it will be argued, vitally informs sport ethics, game logic, and participant meaning. Finally, I will argue that (...) embodying pragmatic conceptions of art as its ideal metaphor re-opens space to best realize the deep potential of sport as a meaningful human practice. (shrink)

I call into question a pair of closely related assumptions that are almost universally shared in the literature on predicates of taste. The assumptions are, first, that predicates of taste – words like ‘tasty’ – are semantically evaluative. In other words, that it is part of the meaning of a word like ‘tasty’ to describe an object as in some sense good, or to say that it is pleasing. And second, that the meaning of predicates of taste is in some (...) way relativized to an experiencer or standard – the person that the object is pleasing to or the standard according to which the object is good. Parties to the literature on these terms tend to disagree about the role of context in determining the truth of claims involving predicates of taste, or in determining which proposition is expressed. But they agree that to call some dish ‘tasty’ is to say something positive about that dish, to suggest that someone or other finds, or is disposed to find, the dish pleasing. I suggest instead that ‘tasty’, and indeed... (shrink)

In “Models and Reality” (1980), Putnam sketched a version of his internal realism as it might arise in the philosophy of mathematics. Here, I will develop that sketch. By combining Putnam’s model-theoretic arguments with Dummett’s reflections on Gödelian incompleteness, we arrive at (what I call) the Skolem-Gödel Antinomy. In brief: our mathematical concepts are perfectly precise; however, these perfectly precise mathematical concepts are manifested and acquired via a formal theory, which is understood in terms of a computable system of proof, (...) and hence is incomplete. Whilst this might initially seem strange, I show how internal categoricity results for arithmetic and set theory allow us to face up to this Antinomy. This also allows us to understand why “Models are not lost noumenal waifs looking for someone to name them,” but “constructions within our theory itself,” with “names from birth.”. (shrink)

Tim Mulgan presents a penetrating examination of consequentialism: the theory that human behavior must be judged in terms of the goodness or badness of its consequences. The problem with consequentialism is that it seems unreasonably demanding, leaving us no room for our own aims and interests. In response, Mulgan offers his own, more practical version of consequentialism--one that will surely appeal to philosophers and laypersons alike.

I defend the intention-dependence of artifacts, which says that something is an artifact of kind K only if it is the successful product of an intention to make an artifact of kind K. I consider objections from two directions. First, that artifacts are often mind- and intention-dependent, but that this isn’t necessary, as shown by swamp cases. I offer various error theories for why someone would have artifact intuitions in such cases. Second, that while artifacts are necessarily mind-dependent, they aren’t (...) necessarily intention-dependent. I consider and reject three kinds of cases which purport to show this: accidental creation, automated production, and mass production. I argue that intentions are present in all of these cases, but not where we would normally expect. (shrink)

Universals are putative objects like wisdom, morality, redness, etc. Although we believe in properties (which, we argue, are not a kind of object), we do not believe in universals. However, a number of ordinary, natural language constructions seem to commit us to their existence. In this paper, we provide a fictionalist theory of universals, which allows us to speak as if universals existed, whilst denying that any really do.

Amie Thomasson and Eli Hirsch have both attempted to deflate metaphysics, by combining Carnapian ideas with an appeal to ordinary language. My main aim in this paper is to critique such deflationary appeals to ordinary language. Focussing on Thomasson, I draw two very general conclusions. First: ordinary language is a wildly complicated phenomenon. Its implicit ontological commitments can only be tackled by invoking a context principle; but this will mean that ordinary language ontology is not a trivial enterprise. Second: ordinary (...) language often points in different directions simultaneously, so that a wide variety of existence questions cannot be deflated merely by appealing to ordinary language. (shrink)

Accounts of the nation and national identity have tended to focus upon the transmission by cultural elites of authoritative culture, invented traditions and folk customs. Following Billig, I suggest that the national is increasingly located in the everyday and in the realm of popular culture; far more so than in ‘high’ and ‘official’ forms of culture. To exemplify this, I discuss national automobilities, specifically exploring the role of iconic models, mundane motorscapes and the everyday, habitual performances of driving. With a (...) particular focus upon British and Indian car cultures, I further suggest that the ‘national’ is not a singular or monolithic entity but is constituted out of a vast matrix of interrelated elements, three of which are the models, geographies and performances identified above. As the national proliferates and expands, becoming globalized, it generates multiple forms of national identity, although consistencies and points of focus remain. Accordingly, as in other cultural fields, I argue that while global manifestations of automobility proliferate, this has not necessarily diminished the salience of the national in the relationship between driving cars and identity. The national thus remains a powerful constituent of identity precisely because of its often unreflexive grounding in everyday spaces and practices. (shrink)

This article looks at the discursive and practical construction of walking in a British context. It examines the ways in which notions and practices generated by conventions around the meaning of walking in the countryside apparently contradict prevailing ideas that walking is an escape from the restrictions of everyday urban life. Identifying particular, competing forms of walking and the techniques and identities that they espouse, it is suggested that such activities are suffused with disciplinary norms. Yet despite these conventions, walking (...) holds out the possibility of disruption, through confrontation with physical discomfort, unpredictable features and sensual experience that contrasts with much contemporary forms of movement. The work of artist Richard Long is used to explore these issues. (shrink)

What do we owe to our descendants? How do we balance their needs against our own? Tim Mulgan develops a new theory of our obligations to future generations, based on a new rule-consequentialist account of the morality of individual reproduction. He also brings together several different contemporary philosophical discussions, including the demands of morality and international justice. His aim is to produce a coherent, intuitively plausible moral theory that is not unreasonably demanding, even when extended to cover future people. While (...) the book focuses on developing this new account, there are also substantial discussions of alternative views, especially contract-based accounts of intergenerational justice and competing forms of consequentialism. (shrink)

I advocate scepticism about epistemic blame; the view that we have good reason to think there is no distinctively epistemic form of blame. Epistemologists often find it useful to draw a distinction between blameless and blameworthy norm violation. In recent years, this has led several writers to develop theories of ‘epistemic blame.’ I present two challenges against the very idea of epistemic blame. First, everything that is supposedly done by epistemic blame is done by epistemic evaluation, at least according to (...) a prominent view about the social role of epistemic evaluation. Parsimony considerations count against introducing an idle mechanism that does the same work as an existing one. Second, no current theory of epistemic blame includes a plausible account of the force of epistemic blame or the practices that could express it. I conclude that we should give up the notion of epistemic blame. (shrink)

Abstract objects are standardly taken to be causally inert, however principled arguments for this claim are rarely given. As a result, a number of recent authors have claimed that abstract objects are causally efficacious. These authors take abstracta to be temporally located in order to enter into causal relations but lack a spatial location. In this paper, I argue that such a position is untenable by showing first that causation requires its relata to have a temporal location, but second, that (...) if an entity is temporally located then it is spatiotemporally located since this follows from the theory of Relativity. Since abstract objects lack a spatiotemporal location, then if something is causally efficacious, it is not abstract. (shrink)

In recent years there has been an increase in the number of calls for moral education to receive greater public attention. In our pluralist society, however, it is difficult to find agreement on what exactly moral education requires. Philosophical Discussion in Moral Education develops a detailed philosophical defence of the claim that teachers should engage students in ethical discussions to promote moral competence and strengthen moral character. Paying particular attention to the teacher's role, this book highlights the justification for, and (...) methods of, creating a classroom community of ethical inquiry. (shrink)

We defend the view that we are not identical to organisms against the objection that it implies that there are two subjects of every conscious state one experiences: oneself and one’s organism. We then criticize animalism —the view that each of us is identical to a human organism—by showing that it has unacceptable implications for a range of actual and hypothetical cases of conjoined twinning : dicephalus, craniopagus parasiticus, and cephalopagus.

The Meno is one of the foundational dialogues of the Platonic tradition - it initiates a series of investigations into subjects which lie at the heart of philosophy: What is virtue? How is it acquired?This edition of Taylor's revision of Sydenham's translation adds three introductory essays by Tim Addley and an extract from Procclus' commentary on The Republic on Virtue.

Sometimes your concept and mine have exactly the same content. When this is so, it is comparatively easy for me to understand what you say when you deploy your concept, for us to disagree, agree, and so on. But what if your concept and mine do not have exactly the same content? This question has occupied a number of philosophers, including Paul Churchland, Jerry Fodor, and Ernie Lepore. This paper develops a novel and rigorous measure of concept similarity, Proportion, such (...) that concepts with different contents but sufficiently high Proportion scores will also conduce to understanding, agreement, and disagreement. (shrink)

Some machine learning models, in particular deep neural networks (DNNs), are not very well understood; nevertheless, they are frequently used in science. Does this lack of understanding pose a problem for using DNNs to understand empirical phenomena? Emily Sullivan has recently argued that understanding with DNNs is not limited by our lack of understanding of DNNs themselves. In the present paper, we will argue, _contra_ Sullivan, that our current lack of understanding of DNNs does limit our ability to understand with (...) DNNs. Sullivan’s claim hinges on which notion of understanding is at play. If we employ a weak notion of understanding, then her claim is tenable, but rather weak. If, however, we employ a strong notion of understanding, particularly explanatory understanding, then her claim is not tenable. (shrink)