This is an encyclopedia article about epistemic closure principles. The article explains what they are, their various philosophical uses, how they are argued for or against, and provides an overview of the related literature.

In “The Irrelevance of the Diachronic Money-Pump Argument for Acyclicity,” The Journal of Philosophy CX, 8 (August 2013), 460-464, Johan E. Gustafsson contends that if Davidson, McKinsey and Suppes’ diachronic money-pump argument in their "Outlines of a Formal Theory of Value, I," Philosophy of Science 22 (1955), 140-160 is valid, so is the synchronic argument Gustafsson himself offers. He concludes that the latter renders irrelevant diachronic choice considerations in general, and the two best-known diachronic solutions to the money pump problem (...) in particular. I argue here that this reasoning is incorrect, and that Gustafsson’s synchronic argument is faulty on independent grounds. Specifically, it is based on a false analogy between the derivation of a synchronic ordinal ranking from a transitive series of pairwise comparisons, and the putative derivation of such a ranking from an intransitive series. The latter is not possible under the assumption of revealed preference theory, and is highly improbable even if that assumption is rejected. Moreover, Gustafsson’s argument raises issues of fidelity to the historical texts that must be addressed. I conclude that the money pump, and cyclical choice more generally, are necessarily diachronic; and therefore that the two best-known diachronic solutions to the money pump problem remain relevant. (shrink)

This case recounts the story of Rajat Gupta, a Goldman Sachs board member and seniorpartner emeritus of McKinsey & Co., who was accused by the government of giving critical nonpublicfinancial information to Raj Rajaratnam, Galleon Group founder, during the financial crisisof 2008. The information passed along to Rajaratnam was about a pending $5 billion investment byWarren Buffett’s Berkshire Hathaway in Goldman Sachs at a time when its stock had been faltering.The government alleged that based on this information, Rajaratnam purchased a (...) large number ofshares in the company and then sold them when the deal became public and Goldman’s stock rose.Rajaratnam purportedly made $18 million on these trades. (shrink)

This case recounts the story of Rajat Gupta, a Goldman Sachs board member and seniorpartner emeritus of McKinsey & Co., who was accused by the government of giving critical nonpublicfinancial information to Raj Rajaratnam, Galleon Group founder, during the financial crisisof 2008. The information passed along to Rajaratnam was about a pending $5 billion investment byWarren Buffett’s Berkshire Hathaway in Goldman Sachs at a time when its stock had been faltering.The government alleged that based on this information, Rajaratnam purchased a (...) large number ofshares in the company and then sold them when the deal became public and Goldman’s stock rose.Rajaratnam purportedly made $18 million on these trades. (shrink)

We study a propositional bimodal logic consisting of two S4 modalities £ and [a], together with the interaction axiom scheme a £ϕ → £ aϕ. In the intended semantics, the plain £ is given the McKinsey-Tarski interpretation as the interior operator of a topology, while the labelled [a] is given the standard Kripke semantics using a reflexive and transitive binary relation a. The interaction axiom expresses the property that the Ra relation is lower semi-continuous with respect to the topology. The (...) class of topological Kripke frames characterised by the logic includes all frames over Euclidean space where Ra is the positive flow relation of a differential equation. We establish the completeness of the axiomatisation with respect to the intended class of topological Kripke frames, and investigate tableau calculi for the logic, although tableau completeness and decidability are still open questions. (shrink)

A great deal of discussion in the recent literature has been devoted to the so-called 'McKinsey' paradox which purports to show that semantic externalism is incompatible with the sort of authoritative knowledge that we take ourselves to have of our own thought contents. In this paper I examine one influential epistemological response to this paradox which is due to Crispin Wright and Martin Davies. I argue that it fails to meet the challenge posed by McKinsey but that, if it is (...) set within an externalist epistemology, it may have application to a related paradox that concerns the problem of radical scepticism. (shrink)

Externalists about mental content are supposed to face the following dilemma. Either they must give up the claim that we have privileged access to our own mental states or they must allow that we have privileged access to the world. The dilemma is posed in its most precise form through the McKinsey-Brown argument (McKinsey 1991; Brown 1995). Over the years since it was ?rst published in 1991, our understanding of the precise character of the premisses which constitute the argument has (...) been re?ned. It is based on three claims (where A partially serves to characterise the content of some belief state for which Externalism is true and E is some proposition about the external world). (shrink)

This collection addresses a post-WWII shift in the hierarchy of scientific explanations, where the highest goal moves from reductionism towards some ...

Contemporary philosophers interested in value theory appear to be largely concerned with questions of the following sort:What is value?What is the meaning of the word ‘good’?Does the attribution of value to an object have a cognitive, or merely an emotive, significance?The first question is metaphysical; to ask it is analogous to asking in physics:What is matter?What is electricity?The others are generally treated as semantical questions; to ask them is analogous to asking in statistics:What is the meaning of the word ‘probable’?Does (...) an attribution of probability express an objective fact, or merely a subjective attitude? (shrink)

It is the purpose of this paper to carry out a partial syntactical analysis of imperatives. Imperatives form a large body of linguistic expressions, appearing, e.g. in mathematical proofs be a continuous function!”), laws, moral injunctions, instruction, etc. For analytical purposes we distinguish between two forms of imperatives, the fiat and the directive. By a directive we mean an imperative which includes an indication of the agent who is to carry it out. For example, “Henry, don't forget to stop at (...) the grocery!” is a directive. By a fiat we mean an imperative which includes no reference to an agent who is to carry it out. For example, “Let there be light!” is a fiat. This is a distinction made in terms of meaning. If, however, proper symbolic devices were introduced for the formalization of imperatives, it could be made in a syntactical manner. Thus we could distinguish between imperatives which possess a certain operator—the directive operator formed by putting a name within square brackets—as “[Henry]!”, and imperatives which do not possess this operator, e.g. “Let it be the case that Henry does not forget to stop at the grocery!” In the following we pay attention only to fiats. This, of course, involves a great limitation of subject matter and excludes topics of great interest. (shrink)

For the theorists of crisis, the revolutionary state comes into existence through violence, and due to its inability to provide an authoritative katechon (restrainer) against internal and external violence, it perpetuates violence until it self-destructs. Writing during extreme economic depression and growing social and political violence, the crisis theorists––Joseph de Maistre, Juan Donoso Cortés, and Carl Schmitt––each sought to blame the chaos of their time upon the Janus-faced postrevolutionary ideals of liberalism and socialism by urging a return to pre-revolutionary moral (...) and religious values. They are united by three counterrevolutionary principles, all of which are purported to remedy revolutionary violence: traditional constitutional fidelity, the philosophy of the decision, and opposition to bourgeois liberalism. This essay is followed by the first complete English translation and publication of Donoso’s letter of October 24, 1851, which contains Donoso’s only reference to the “discussing class,” a political entity later popularized by Schmitt in his 1922 work Political Theology. (shrink)

In much of the current academic and public discussion, conspiracy theories are portrayed as a negative phenomenon, linked to misinformation, mistrust in experts and institutions, and political propaganda. Rather surprisingly, however, philosophers working on this topic have been reluctant to incorporate a negatively evaluative aspect when either analyzing or engineering the concept conspiracy theory. In this paper, we present empirical data on the nature of the concept conspiracy theory from five studies designed to test the existence, prevalence and exact form (...) of an evaluative dimension to the ordinary concept conspiracy theory. These results reveal that, while there is a descriptive concept of conspiracy theory, the predominant use of conspiracy theory is deeply evaluative, encoding information about epistemic deficiency and often also derogatory and disparaging information. On the basis of these results, we present a new strategy for engineering conspiracy theory to promote theoretical investigations and institutional discussions of this phenomenon. We argue for engineering conspiracy theory to encode an epistemic evaluation, and to introduce a descriptive expression—such as ‘conspiratorial explanation’—to refer to the purely descriptive concept conspiracy theory. (shrink)

Contingency is the presence of non-actualized possibility in the world. Fatalism is a view of reality on which there is no contingency. Since it is contingency that permits agency, there has traditionally been much interest in contingency. This interest has long been embarrassed by the contention that simple and plausible assumptions about the world lead to fatalism. I begin with an Aristotelian argument as presented by Richard Taylor. Appreciation of this argument has been stultified by a question pertaining to the (...) source of necessity and possibility and a closely related one regarding the nature of metaphysics itself. Answering these questions reveals the crucial issue here, to wit, necessity and possibility in a temporal world. This issue is investigated through an important later criticism of Taylor by David Foster Wallace. Wallace’s critique is significant because it brings to the fore the pivotal notion for understanding contingency in a temporal world, that of synchronic possibility, the idea that incompatible states of affairs are possible at a single moment. This notion provides the basis of distinguishing two systematic accounts of truth, modality and time: two metaphysics of contingency. On one account, Taylor’s Aristotelian argument is straightforwardly valid and compelling; on the other, it is fallacious. In closing, I present reasons why the former account, supporting the Aristotelian views of time and truth, is correct and make some comments to ameliorate this conclusion. (shrink)