This article is part of a larger study on teachers’ co-construction of social support on a social networking site. The aim of this article is to elucidate how a topic introduced in the Facebook Status updates are negotiated with/by Friends through the Comment function. Adopting discourse topic management as its theoretical framework, the article presents the findings related to topical action of continuing topic observed in the Comments on Timelines, which reflects the strong presence of support on the site in (...) the sense that Friends show their interest in taking up the topic. The analysis shows that strategies for continuing topics in face-to-face conversations are creatively employed by teachers on Timelines and this leads to the emergence of unique characteristics of this new mode of online interaction. In this respect, this article contributes to the expansion of discourse topic theory by highlighting the characteristics of Timeline conversations that emerged from the analysis of topic continuation. (shrink)

When the teachers’ training practicum was paralyzed during the COVID-19 pandemic, preservice teachers in Malaysia were required to adapt to the online practicum. This qualitative case study was conducted with 20 preservice teachers to investigate their online teaching practicum experiences. The study drew on the Engagement Theory and Disaster Management Cycle framework to further suggest teaching approaches that might be effective during a tragic situation. Data were collected from interviews and video observations, and analyzed thematically. The findings contribute to the (...) understanding of how preservice teachers learn to modify their teaching practices during the challenging context. A number of themes related to positive experience were identified: higher confidence level, improved interaction, engagement in active learning, and adapting to online syllabus. On the other hand, the negative experience revolves around the problem with Internet connection. It is hoped that the findings of this study will encourage preservice teachers to consider hybrid approaches and online teaching in the future. (shrink)

This research examines the complex interplay of religiosity, sexuality, and infidelity. We adopted a case study approach in this research, and discourse was made central to the analysis. There were two participants; both identified as homosexuals. One participant, Fahrin, is married while the other, Muzz, is divorced at the time of the interview. The participants were subjected to an in-depth, semi-structured interview to gauge their experiences, perceptions, opinions, beliefs, and thoughts on their sexuality, Islamic faith as well as relationship with (...) their spouses. The data were then transcribed and analyzed using the Discursive Action Model and Discursive Psychology frameworks. From the analysis, two overarching themes were identified. They are the allocation of blame and accountability and the participants’ attachment to their Islamic identity. The discussion then revolves around the societal role that pressures gay men to marry women and contextualizes the position of Islam on Homosexuality. (shrink)

This paper aims to provide insights into the Malaysian newspaper reports on apostasy cases in the country. Being a Muslim country with multi-religions, apostasy is highly sensitive hence any issues related to apostasy need to be carefully managed. Four keywords were used to identify newspaper reports for the analysis. Two newspaper reports met the selection criteria and were analysed using a discourse analysis approach focusing on Grammatical Analysis, Macrostructures, and Rhetorical Structures. The analysis reveals that the report in New Straits (...) Times, which is the right-wing newspaper, carries the voice of anti-apostate and disapproves the act of renouncing Islam. On the other hand, the report in The Malay Mail, which is the left-wing newspaper, carries the voice of pro-apostate. By deconstructing the newspaper reports, this paper contributes to the understanding of the agendas that have been subtly set in the news. This paper concludes that the two reports have been strategically constructed to serve the interests and promote the ideology of the two competing groups in the country, thus creating a balance in the multi-religious context. (shrink)

In higher education, reflective practice has become a dynamic, participatory, and cyclical process that contributes to educators’ professional development and personal growth. While it is now a prominent part of educators, many still find it challenging to apply the concept for it carries diverse meaning for different people in different contexts. This article attempts to conceptualize the complexity of reflective practice in an educational context. Scholars in this field have taken different approaches to reflective practice, but all these approaches consist (...) of four main components in common: reflecting; planning for future action; acting; and evaluating the outcomes. We extend the existing literature by proposing a model which integrates these four components with three key aspects of reflection: problem-solving, action orientation, and criticality. The novelty of this model lies within its alignment of the three key aspects with different levels of criticality in a comprehensive framework with detailed descriptors provided. The model and its descriptors are useful in guiding individuals who directly or indirectly involve in critical reflection, especially educators, in appraising their levels of criticality and consequently engage in a meaningful reflection. (shrink)

This phenomenological study investigated educators’ lived experiences of teaching online in higher institutions in Malaysia. Data, which was generated through semi-structured interviews with 20 lecturers from three universities in the country, was analysed based on the thematic analysis approach guided by the Technological, Pedagogical, and Content Knowledge -self-efficacy framework. The findings revealed that after a year of teaching online, the potential of technology has been acknowledged by the educators after some trials and constraints were addressed. The domains related to Technology (...) Content Knowledge, Technology Pedagogical Knowledge, and TPACK were evident in the findings. However, Pedagogical Content Knowledge was not given emphasis, hence this manuscript argues that educators need to be constantly reminded of the significance of PCK. The findings discussed in this manuscript can be a helpful guide for educators when there is a need for them to teach online. (shrink)

Many countries, namely, Malaysia, Lithuania, and Spain, shifted to online assessment during the COVID-19 pandemic. This qualitative case study, which involved 18 undergraduate students from the three countries, was conducted to probe insights into their online assessment experience. Data were interpreted from the perspective of the expectancy-value theory of motivation, which focuses on intrinsic attainment, utility, and cost values. The findings revealed that students were motivated to complete their assessment since they experienced flexibility besides having effective assessment guidelines. The positive (...) experiences were related to intrinsic and attainment values; however, the students were also demotivated when stressed, indicating the high-cost value. Utility value was found to overlap with cost value in this study because students were dissatisfied with the online assessment and expressed less preference for this approach in future. This contributes to our understanding that educators must consider utility values when preparing online assessments. The pedagogical implications of this study revolve around the importance of a checklist, mock exams, alternative assessment, and video demos for an effective assessment. (shrink)

It was not long ago when technological emergence fundamentally changed the landscape of global businesses. Following that, business operations started shifting away from traditional to advance digitalized processes. These digitalized processes gave a further boost to the e-commerce industry, making the online environment more competitive. Despite the growing trend, there has always been a consumer market that is not involved in online shopping, and this gap is huge when it comes to consumers from developing countries, specifically Pakistan. On contrary, the (...) recent COVID-19 pandemic has brought drastic changes to the way consumers used to form their intention and behave toward digitalized solutions in pre COVID-19 times. Evidence shows that the global e-commerce industry has touched phenomenal growth during COVID-19, whereas Pakistan's e-commerce industry still holds a huge potential and has not fully boomed yet. These facts pave new avenues for marketers to cater to this consumer market for long-term growth. Hence, the study provides insights into how consumers' online buying behavior has transformed during the COVID-19 pandemic in the context of Pakistan. The study presents a framework based on the Technology Acceptance Model and Theory of Planned Behavior. Furthermore, the moderating role of gender and payment mode has also been examined. For the analysis of variables, the partial least squares method was used to conduct structural equation modeling by collecting data from 266 respondents. The results show a significant and positive impact of perceived benefits, perceived ease of use, perceived enjoyment, and social influence on consumers' intention, but they also show an insignificant impact of gender and payment mode as a moderating variable on PEOU-BI and BI-AB, respectively. The results are of utmost significance for Pakistani businesses, marketers, and e-traders to streamline their business practices accordingly. Lastly, the proposed framework demonstrates new directions for future research to work upon. (shrink)

The article is an introduction to the use of the principle of falsification in economic science. It is shown what difficulties the named criterion of demarcation encounters when trying to introduce it into humanitarian knowledge. The specificity of economic knowledge itself, which makes it difficult to use the principle of falsification, is explicated.

Information of high evidentiary quality plays a crucial role in forensic investigations. Research shows that information provided by witnesses and victims often provide major leads to an inquiry. As such, statements should be obtained in the shortest possible time following an incident. However, this is not achieved in many incidents due to demands on resources. This intersectional study examined the effectiveness of a chatbot (the AICI), that uses artificial intelligence (AI) and a cognitive interview (CI) to help record statements following (...) an incident. After viewing a sexual harassment video, the present study tested recall accuracy in participants using AICI compared to other tools (i.e., Free Recall, CI Questionnaire, and CI Basic Chatbot). Measuring correct items (including descriptive items) and incorrect items (errors and confabulations), it was found that the AI CI elicited more accurate information than the other tools. The implications on society include AI CI provides an alternative means of effectively and efficiently recording high-quality evidential statements from victims and witnesses. (shrink)

We survey the meta-ethical tools and institutional processes that traditional Islamic ethicists apply when deliberating on bioethical issues. We present a typology of these methodological elements, giving particular attention to the meta-ethical techniques and devices that traditional Islamic ethicists employ in the absence of decisive or univocal authoritative texts or in the absence of established transmitted cases. In describing how traditional Islamic ethicists work, we demonstrate that these experts possess a variety of discursive tools. We find that the ethical responsa—i.e., (...) the products of the application of the tools that we describe—are generally characterized by internal consistency. We also conclude that Islamic ethical reasoning on bioethical issues, while clearly scripture-based, is also characterized by strong consequentialist elements and possesses clear principles-based characteristics. The paper contributes to the study of bioethics by familiarizing non-specialists in Islamic ethics with the role, scope, and applicability of key Islamic ethical concepts, such as “aims” (maqāṣid), “universals” (kulliyyāt), “interest” (maṣlaḥa), “maxims” (qawā`id), “controls” (ḍawābit), “differentiators” (furūq), “preponderization” (tarjīḥ), and “extension” (tafrī`). (shrink)

This paper interprets John von Neumann's views on the proper role of mathematics in science, with attention to its implications for economics. The evolution of von Neumann's thought over his lifespan, an examination of which is greatly aided by some self-conscious appraisals of von Neumann himself, suggests that von Neumann ended by taking a very pragmatic approach to the use of mathematics. One can almost characterize it as an engineering approach to the philosophy of mathematics since von Neumann takes mathematics (...) to be justified by its applications. This approach, which is surprisingly non-technical and hence accessible to general readers, is then placed in the context of his wider world-view. (shrink)

Software defects prediction at the initial period of the software development life cycle remains a critical and important assignment. Defect prediction and correctness leads to the assurance of the quality of software systems and has remained integral to study in the previous years. The quick forecast of imperfect or defective modules in software development can serve the development squad to use the existing assets competently and effectively to provide remarkable software products in a given short timeline. Hitherto, several researchers have (...) industrialized defect prediction models by utilizing statistical and machine learning techniques that are operative and effective approaches to pinpoint the defective modules. Tree family machine learning techniques are well-thought-out to be one of the finest and ordinarily used supervised learning methods. In this study, different tree family machine learning techniques are employed for software defect prediction using ten benchmark datasets. These techniques include Credal Decision Tree, Cost-Sensitive Decision Forest, Decision Stump, Forest by Penalizing Attributes, Hoeffding Tree, Decision Tree, Logistic Model Tree, Random Forest, Random Tree, and REP-Tree. Performance of each technique is evaluated using different measures, i.e., mean absolute error, relative absolute error, root mean squared error, root relative squared error, specificity, precision, recall, F-measure, G-measure, Matthew’s correlation coefficient, and accuracy. The overall outcomes of this paper suggested RF technique by producing best results in terms of reducing error rates as well as increasing accuracy on five datasets, i.e., AR3, PC1, PC2, PC3, and PC4. The average accuracy achieved by RF is 90.2238%. The comprehensive outcomes of this study can be used as a reference point for other researchers. Any assertion concerning the enhancement in prediction through any new model, technique, or framework can be benchmarked and verified. (shrink)

The high prevalence of aggression, anxiety and stress symptoms among team members in the organisation, while acquisition of task is alarming causation of adjustment disorder influences on team embeddedness, is the subject of this study. The ontogenesis of psychosocial adjustment disorder in any employees is not palingenetic, this is exact reproduction of psychosocial factors (PSF) which develops at workplace The most important strategy for productivity improvement is based on the fact that human productivity, both positive and negative, is determined by (...) the attitudes of all those who work in the enterprise and gap surfaced between teamwork and competence development particularly with regard to managing individualism within organisation and specifically individualistic approach, organisational justice, productivity management and psychosocial support. We strongly feel that there is a need to reexamine organisational team credentials and possible strong influences on individual’s psychosocial adjustment disorders. Findings suggest psychosocial adjustment factors are significantly correlated with psychosocial disorders (PSDs). (shrink)

From Antiquity until recently, philosophers and mathematicians have continually discussed the concept of angle and its relation to archimedean and non-archimedean theories of measurement. For the first time, this book traces the history of these discussions in Greek and Arabic, from Euclid to Kamāl al-Dīn al-Fārisī, after whom the discussion was not resumed until Newton and Euler. The volume presents first editions of over twenty texts, either in Arabic or Greek and translated into Arabic, of the greatest mathematicians and philosophers (...) of the time. The texts are here translated into French and supplemented with extensive commentary. The book begins with the definitions and propositions of Euclid on angles and measurement, followed by the Greek commentary tradition represented by Proclus and Simplicius (only extant in Arabic) and the writings of the Arabic mathematicians and philosophers from the 9th through 14th century, placing the fundamental contributions by Avicenna and Ibn al-Haytham into their historical context and showing how numerous successors produced new syntheses of their work. (shrink)

Applying the resolution–scale relativity principle to develop a mechanics of non-differentiable dynamical paths, we find that, in one dimension, stationary motion corresponds to an Itô process driven by the solutions of a Riccati equation. We verify that the corresponding Fokker–Planck equation is solved for a probability density corresponding to the squared modulus of the solution of the Schrödinger equation for the same problem. Inspired by the treatment of the one-dimensional case, we identify a generalization to time dependent problems in any (...) number of dimensions. The Itô process is then driven by a function which is identified as establishing the link between non-differentiable dynamics and standard quantum mechanics. This is the basis for the scale relativistic interpretation of standard quantum mechanics and, in the case of applications to chaotic systems, it leads us to identify quantum-like states as characterizing the entire system rather than the motion of its individual constituents. (shrink)

This paper investigates the relationship between director independence and firm performance, as well as ownership of firms and firm performance in Malaysia. We find that independent outside directors and foreign directors have a significant positive effect on firm performance after controlling for the influence of other corporate governance variables such as firm ownership and board sizes. The study demonstrates that when a critical mass of outside directors' independence is achieved, this has a significant economic impact on the firm performance. The (...) results have implications for rethinking board composition requirements in the emerging markets. [PUBLICATION ABSTRACT]. (shrink)

BackgroundIn this study, medical errors are defined as unintentional patient harm caused by a doctor’s mistake. This topic, due to limited research, is poorly understood in Malaysia. The objective of this study was to determine the proportion of doctors intending to disclose medical errors, and their attitudes/perception pertaining to medical errors.MethodsThis cross-sectional study was conducted at a tertiary public hospital from July- December 2015 among 276 randomly selected doctors. Data was collected using a standardized and validated self-administered questionnaire intending to (...) measure disclosure and attitudes/perceptions. The scale had four vignettes in total two medical and two surgical. Each vignette consisted of five questions and each question measured the disclosure. Disclosure was categorised as “No Disclosure”, “Partial Disclosure” or “Full Disclosure”. Data was keyed in and analysed using STATA v 13.0.ResultsOnly 10.1% intended to disclose medical errors. Most respondents felt that they possessed an attitude/perception of adequately disclosing errors to patients. There was a statistically significant difference when comparing the intention of disclosure with perceived disclosures. Most respondents were in common agreement that disclosing an error would make them less likely to get sued, that minor errors should be reported and that they experienced relief from disclosing errors.ConclusionMost doctors in this study would not disclose medical errors although they perceived that the errors were serious and felt responsible for it. Poor disclosure could be due the fear of litigations and improper mechanisms/procedures available for disclosure. (shrink)

Social interactions through social commerce platforms empower consumers to share their personal experiences with others, but its role becomes more significant for societal protection during COVID-19. Numerous scholars have studied e-commerce extensively, but there is a lack of studies to identify social commerce characteristics to attract potential consumers during COVID-19. This study aims to examine the role of social commerce constructs by integrating social presence as a moderator in the model to explain consumers online shopping intentions in a Pakistani context, (...) where lack of trust on the reliability and validity of comments from other consumers being considered the growing concern toward the success of social commerce. The quantitative data were collected from the respondents living in different cities of Pakistan. Most of the hypothesis supported and demonstrate the positive response from the Pakistani consumers having experience in shopping through social commerce platforms. The findings of this study will help scholars and managers to understand the attitude of Pakistani consumers. (shrink)

This article examined the effect of culture and religiosity on perceptions of business ethics among students in a tertiary institution in Malaysia. A structured questionnaire was developed with scenarios on various aspects of business ethics, and self-administered to the students in the business studies program. The results from 767 respondents showed that there were significant differences among the Malays, Chinese, and Indian students on seven scenarios namely selling hazardous products, misleading instructions, selling defective products, padding expense account, taking sick to (...) take a day off, keeping quiet on defective products, and respond to supplier's take good care of clients attitude. There was also an association between culture and religiosity. The MANOVA results also showed that culture and religiosity have an effect on perceptions of business ethics. (shrink)

Sustainability is concerned with the impact of present actions on the ecosystems, societies, and environments of the future. Such concerns should be reflected in the strategic planning of sustainable corporations. Strategic intentions of this nature are operationalized through the adoption of a long-term focus and a more inclusive set of responsibilities focusing on ethical practices, employees, environment, and customers. A central hypothesis, that we test in this paper is that companies which attend to this set of responsibilities under the term (...) superior sustainable practices, have higher financial performance compared to those that do not engage in such practices. The target population of this study consists of the top 100 sustainable global companies in 2008 which have been selected from a universe of 3,000 firms from the developed countries and emerging markets. We find significant higher mean sales growth, return on assets, profit before taxation, and cash flows from operations in some activity sectors of the sample companies compared to the control companies over the period of 2006–2010. Furthermore, our findings show that the higher financial performance of sustainable companies has increased and been sustained over the sample. Notwithstanding sample limitation, causal evidence reported in this paper suggests that, there is bi-directional relationship between corporate social responsibilities practices and corporate financial performance. (shrink)

BackgroundCOVID-19 break out has created panic and fear in society. A strict kind of lockdown was imposed in Wuhan, Hubei province of China. During home confinement due to lockdown, people face multidimensional issues. The present study explored the psychological impacts of COVID-19 home confinement during the lockdown period and Wuhan’s residents’ attitude toward physical activity.MethodsA cross-sectional online survey was conducted to collect the primary data according to the study objectives. The population was Wuhan residents who were in home confinement. A (...) total of 2280 participant’s reply to the online questionnaire survey and collected data after quantifying the data, about 2200 ; about female, about male, others about, and about were not disclosed their gender participants responses were used for analysis. The collected data were analyzed through appropriate statistical techniques.ResultsAccording to results, H1 is supported with β = −40.793, t = 57.835, p = 0.000, which claimed a negative association between COVID-19 lockdown policy and behavior and attitude. Results for H2 reveals that the COVID-19 lockdown policy have negative influence on emotional control with β = −0.769, t = 46.766, p = 0.000 and it is supported. H3 documented a significant positive relationship between COVID-19 lockdown policy and lockdown period psychological impact, which means lockdown policy, is the main reason to increase the lockdown psychological impact. Further, COVID-19 lockdown policy have negative influence on physical activity and self-belief with β = −0.657, t = 32.766, p = 0.000 and β = −0.620, t = −6.766, p = 0.000 respectively. H6 stated that there is a positive impact of behavior and attitude toward physical activity. The results for H6, behavior, and attitude affecting the physical activity with β = 0.401, t = 10, p = 0.000, which is supported.ConclusionCOVID-19 home confinement created various psychological impacts, negatively affecting the emotional state due to depression and anxiety. Physical activity is the best strategy to manage human nature’s psychological issues, and people’s attitudes were positive toward physical activity during home confinement. However, the lockdown policy also affects physical activity participation negatively, and a sedentary lifestyle prevailed during home confinement. (shrink)

Artificial Immune Systems (AIS) are intelligent algorithms derived on the principles inspired by human immune system. In this research work, electroencephalography (EEG) signals for four distinct motor movement of human limbs are detected and classified using Negative Selection Classification Algorithm (NSCA). For this study, a widely studied open source EEG signal database (BCI IV - Graz dataset 2a, comprising 9 subjects) has been used. Mel Frequency Cepstral Coefficients (MFCCs) are extracted as selected feature from recorded EEG signals. Dimensionality reduction of (...) data is carried out by applying two hidden layered stacked auto-encoder. Genetic Algorithm (GA) optimized detectors (Artificial Lymphocytes) are trained using Negative Selection Algorithm (NSA) for detection and classification of four motor movements. The trained detectors consist of four sets of detectors, each set is trained for detection and classification of one of the four movements from the other three movements. The optimized radius of detector is small enough not to mis-detect the sample. Euclidean distance of each detector with every training dataset sample is taken and compared with optimized radius of detector as a non-self detector. Our proposed approach achieved a mean classification accuracy of 86.39% for limb movements over 9 subjects with a maximum individual subject classification accuracy of 97.5 % for subject number eight. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:DAVID HUME AND EIGHTEENTH CENTURY MONETARY THOUGHT: A CRITICAL COMMENT ON RECENT VIEWS To the argument that it makes little difference what precise roles were played by various actors in a great movement, and that the busy modern reader cannot be bothered to go behind the scenes of popular successes, the answer is simple: it is on the whole better to call men and events by their right names; (...) it is on the whole wiser not to make false diagrams of the way things happen. What, after all, are we so busy about? Jacques Barzun, Darwin, Marx, Wagner The praise that has been bestowed upon David Hume's monetary thought in recent years would suggest that however little attention is paid to the history of economic thought otherwise, no one is averse to a long and respectable lineage.1 However, it is just when an individual is singled out and focused upon that the most misleading ideas can arise; furthermore, when the scholars who provide this attention are renowned authorities in specialized fields, their views receive very widespread circulation. It would not be easy to find a contemporary student of the eighteenth century who would assert that the mercantilists believed real wealth to consist of gold and silver, yet the late Harry Johnson made just such an assertion not very long ago, and the number of economists who read Harry Johnson must far outnumber those who read eighteenthcentury scholars.2 By the same token, the liberal praise bestowed upon those credited with having "demolished" mercantilism, such as David Hume, requires careful scrutiny. A recent article by Dietrich Fausten3 has shown how different Hume's analysis 157 actually was from modern monetarism, despite the many attempts to designate Hume the father of monetarist doctrines, and this critical approach can be taken farther. Before turning to an examination of Hume's position, it may be worthwhile to make a methodological point. There are those who consider delving into indebtedness and priorities "antiquarian" (but not if their own contributions are in question!). After all, they claim, Hume's views are there in black and white, he wrote elegantly and his philosophical merits are widely admired; does it really matter if Hume did not acknowledge his sources, that he was somewhat inconsistent, or that he caricatured his opponents? Surely some compassion is appropriate for someone who wrote at the very dawn of "economic science." This is to miss the point of such historical scrutiny altogether. If compassion were required, why should it be bestowed upon Hume, rather than on such predecessors as Gervaise, Cantillon or Vanderlint? Scholars employ certain critical standards in judging published work; let us employ these standards to Hume and if sympathy be required, let it follow and not precede the analysis. II The following passage is certainly one of the most frequently quoted in the history of economics but its importance for our argument makes repetition necessary. Suppose, that all the money of Great Britain were multiplied fivefold in a night, must not the contrary effect follow? Must not all labour and commodities rise to such an exorbitant height, that no neighbouring nations could afford to buy from us; while 158 their commodities, on the other hand, became comparatively so cheap, that, in spite of all the laws which could be formed, they would be run in upon us, and our money flow out; till we fall to a level with foreigners, and lose that great superiority of riches, which had laid us under such disadvantages?4 Two points should be noted about the above. First, Hume assumes a sudden, large inflow of money to make his point. This is a very different thing from the small [relative to the money stock] and steady inflow advocated by the so-called mercantilists. Secondly, Hume assumes that this sudden inflow is met by instantaneous adjustment in prices. Otherwise, if the change in, say, wages attracts more labour, there is no reason why the increased money supply could not lead to a greater output and thus avoid inflation. International labour mobility was a standard feature of mercantilist thought and so it will be seen that Hume's "new" result is obtained by his... (shrink)

In lieu of an abstract, here is a brief excerpt of the content:DAVID HUME AND EIGHTEENTH CENTURY MONETARY THOUGHT: A CRITICAL COMMENT ON RECENT VIEWS To the argument that it makes little difference what precise roles were played by various actors in a great movement, and that the busy modern reader cannot be bothered to go behind the scenes of popular successes, the answer is simple: it is on the whole better to call men and events by their right names; (...) it is on the whole wiser not to make false diagrams of the way things happen. What, after all, are we so busy about? Jacques Barzun, Darwin, Marx, Wagner The praise that has been bestowed upon David Hume's monetary thought in recent years would suggest that however little attention is paid to the history of economic thought otherwise, no one is averse to a long and respectable lineage.1 However, it is just when an individual is singled out and focused upon that the most misleading ideas can arise; furthermore, when the scholars who provide this attention are renowned authorities in specialized fields, their views receive very widespread circulation. It would not be easy to find a contemporary student of the eighteenth century who would assert that the mercantilists believed real wealth to consist of gold and silver, yet the late Harry Johnson made just such an assertion not very long ago, and the number of economists who read Harry Johnson must far outnumber those who read eighteenthcentury scholars.2 By the same token, the liberal praise bestowed upon those credited with having "demolished" mercantilism, such as David Hume, requires careful scrutiny. A recent article by Dietrich Fausten3 has shown how different Hume's analysis 157 actually was from modern monetarism, despite the many attempts to designate Hume the father of monetarist doctrines, and this critical approach can be taken farther. Before turning to an examination of Hume's position, it may be worthwhile to make a methodological point. There are those who consider delving into indebtedness and priorities "antiquarian" (but not if their own contributions are in question!). After all, they claim, Hume's views are there in black and white, he wrote elegantly and his philosophical merits are widely admired; does it really matter if Hume did not acknowledge his sources, that he was somewhat inconsistent, or that he caricatured his opponents? Surely some compassion is appropriate for someone who wrote at the very dawn of "economic science." This is to miss the point of such historical scrutiny altogether. If compassion were required, why should it be bestowed upon Hume, rather than on such predecessors as Gervaise, Cantillon or Vanderlint? Scholars employ certain critical standards in judging published work; let us employ these standards to Hume and if sympathy be required, let it follow and not precede the analysis. II The following passage is certainly one of the most frequently quoted in the history of economics but its importance for our argument makes repetition necessary. Suppose, that all the money of Great Britain were multiplied fivefold in a night, must not the contrary effect follow? Must not all labour and commodities rise to such an exorbitant height, that no neighbouring nations could afford to buy from us; while 158 their commodities, on the other hand, became comparatively so cheap, that, in spite of all the laws which could be formed, they would be run in upon us, and our money flow out; till we fall to a level with foreigners, and lose that great superiority of riches, which had laid us under such disadvantages?4 Two points should be noted about the above. First, Hume assumes a sudden, large inflow of money to make his point. This is a very different thing from the small [relative to the money stock] and steady inflow advocated by the so-called mercantilists. Secondly, Hume assumes that this sudden inflow is met by instantaneous adjustment in prices. Otherwise, if the change in, say, wages attracts more labour, there is no reason why the increased money supply could not lead to a greater output and thus avoid inflation. International labour mobility was a standard feature of mercantilist thought and so it will be seen that Hume's "new" result is obtained by his... (shrink)

How do we see the world? What is the way of looking at the world? In other words, how do we explain the problems of our life and the world we live in? This is what philosophy does, i.e., philosophy is a way of explaining life and the world. More precisely, philosophy is an outlook of the fundamental problems of life and the world. A philosopher starts his thinking with the exercise of rationality. He makes a rational investigation of the (...) problems with which he is concerned. In this sense, philosophy is a rational outlook of the fundamental problems of life and the world. A philosopher is a rational and critical thinker and in this way of thinking he formulates his ideas and builds theories about life and the world. In this sense, philosophy is mainly a theoretical activity and a philosopher is concerned with conceptual or theoretical activity. This is the traditional way of defining philosophy. Philosophy and Progress, Vol#61-62-; No#1-2; Jan-Dec 2017 P 15-42. (shrink)

This study examines the influence of managerial ownership on firm agency costs among listed firms in Bangladesh. This is an institutional setting that features a mixture of agency costs. This institutional setting has a concentration of ownership by managers, but the firms are not solely owned by managers. The extant literature suggests that the sacrifice of wealth by the principal and potential costs associated with monitoring the agents is known as the agency cost. This study uses three measures of agency (...) cost: the ‘expense ratio’, the ‘Q-free cash flow interaction’, and the ‘asset utilisation ratio’. The finding of the study is that managerial ownership reduces the firm agency cost only under the ‘asset utilisation ratio’ measure of agency cost; this is robust with regard to a number of robustness tests. Furthermore, the non-linearity tests suggest that the convergence of interest is evident with very high and low levels of managerial ownership. The entrenchment effect by the owners is evident at moderate levels of managerial ownership. Although there has been great scepticism among management researchers on the validity of agency theory, overall, the findings of this study do not reject the validity of agency theory. Given that the entrenchment by managers is evident at certain levels of ownership and that the agency problem may still exist between insiders and outsiders, legislative guidelines for controlling share ownership may be required. (shrink)