Philanthropic venture capital, like traditional venture capital, provides funding and value-added services to a portfolio of entrepreneurial firms. However, TVC differs from PhVC, as the primary goal of TVC is to maximize the economic return of its investments. In contrast, PhVC firms expect their portfolio companies to perform well in terms of both social and economic returns. Using both American and European firms, this paper explores and compares the human capital in PhVC and TVC firm founders. Our results show that (...) there are key differences in both general and specific human capital between these firm types. While both TVC and PhVC firm founders have high levels of commercial experience, TVC firm founders tend to hold degrees in science, engineering, business, and law more frequently than PhVC firm founders. PhVC founders also differ from TVC founders by having greater work experience in the social sector. (shrink)

Half a century after Michael Polanyi conceptualised ‘the tacit component’ in personal knowing, management studies has reinvented ‘tacit knowledge’—albeit in ways that squander the advantages of Polanyi’s insights and ignore his faith in ‘spiritual reality’. While tacit knowing challenged the absurdities of sheer objectivity, expressed in a ‘perfect language’, it fused rational knowing, based on personal experience, with mystical speculation about an un-experienced ‘external reality’. Faith alone saved Polanyi’s model from solipsism. But Ernst von Glasersfeld’s radical constructivism provides scope to (...) rethink personal tacit knowing with regard to ‘other people’ and the intersubjectively viable construction of ‘experiential reality’. By separating tacit knowing from Polanyi’s metaphysical realism and drawing on Benedict Anderson’s concept of ‘imagined communities’, it is possible to conceptualise ‘imagined institutions’ as the tacit dimension of power that shapes human interaction. Whereas Douglass North claimed institutions could be reduced to rules, imagined institutions are known in ways we cannot tell. (shrink)

For over 50 years, Minerva has been one of the leading independent journals in the study of ‘science, learning and policy’. Its pages have much to say about the origins and conduct of the ‘intellectual Cold War’, the defence of academic freedom, the emergence of modernization theory, and pioneering strategies in the social studies of science. This paper revisits Minerva through the life and times of its founding Editor, Edward Shils, and traces his influence on its early years – from (...) its association with the Congress for Cultural Freedom in the 1950s, to the higher reaches of research policy in the 1990s. At the close of his life, Minerva continued to espouse Shils’ commitment to what he saw as the fundamental Enlightenment traditions of consensus, civility, and community. In the 21st century, with the achievements of science producing rapid change in every walk of life, his legacy so far retains an established place in the history of scholarship. Whether that legacy will endure – and if so, what role Minerva will play in its defence – remain key questions for the coming generation. (shrink)

Although the success of Habermas’s theory of communicative action depends on his dialogical model of understanding in which a theorist is supposed to participate in the debate with the actors as a ‘virtual participant’ and seek context-transcendent truth through the exchange of speech acts, current literature on the theory of communicative action rarely touches on the difficulties it entails. In the first part of this paper, I will examine Habermas’s argument that understanding other cultural practices requires the interpreter to virtually (...) participate in the “dialogue” with the actors as to the rationality of their cultural practice and discuss why, according to Habermas,such dialogue leads to the “context-transcendent truth”. In the second part, by using a concrete historical example, I will reconstruct a “virtual dialogue” between Habermas and Michael Polanyi as to the rationality of scientific practice and indicate why Habermas’s dialogical model of understanding based on the methodology of virtual participation cannot achieve what it professes to do. (shrink)

Although Jürgen Habermas and Richard Rorty both reject the traditional picture of cultural change in which intellectuals are supposed to have the ‘last word’ on cultural issues and envisage cultural changes as the result of ‘dialogue’ or ‘conversation’ between them and the lay public, they nevertheless end up espousing different pictures of cultural change because of their totally different conception of the role and function of language, truth and rationality in such dialogue. In the first two sections of this article, (...) I will recount Habermas’s critique of Rorty’s neo-pragmatism and the latter’s responses to it so that they can reveal the core issues of the debate. In the third section, I will argue that, as a ‘sociologized version’ of Rorty’s philosophy, Jeffrey Alexander’s theory of social performance provides us with a sociological framework that makes possible a wide range of empirical studies of cultural change. (shrink)

Imagine putting together a jigsaw puzzle that works like the board game in the movie “Jumanji”: When you finish, whatever the puzzle portrays becomes real. The children playing “Jumanji” learn to prepare for the reality that emerges from the next throw of the dice. But how would this work for the puzzle of scientific research? How do you prepare for unlocking the secrets of the atom, or assembling from the bottom-up nanotechnologies with unforeseen properties – especially when completion of such (...) puzzles lies decades after the first scattered pieces are tentatively assembled? In the inaugural issue of this journal, Michael Polanyi argued that because the progress of science is unpredictable, society must only move forward with solving the puzzle until the picture completes itself. Decades earlier, Frederick Soddy argued that once the potential for danger reveals itself, one must reorient the whole of one’s work to avoid it. While both scientists stake out extreme positions, Soddy’s approach – together with the action taken by the like-minded Leo Szilard – provides a foundation for the anticipatory governance of emerging technologies. This paper narrates the intertwining stories of Polanyi, Soddy and Szilard, revealing how anticipation influenced governance in the case of atomic weapons and how Polanyi’s claim in “The Republic of Science” of an unpredictable and hence ungovernable science is faulty on multiple levels. (shrink)

At some point in America in the 1940s, T. D. Lysenko's neo-Lamarckian hereditary theories transformed from a set of disputed doctrines into a prime exemplar of "pseudoscience." This paper explores the context in which this theory acquired this pejorative status by examining American efforts to refute Lysenkoism both before and after the famous August 1948 endorsement of Lysenko's doctrines by the Stalinist state, with particular attention to the translation efforts of Theodosius Dobzhansky. After enumerating numerous tactics for combating perceived pseudoscience, (...) the Lysenko case is then juxtaposed with another American case of alleged pseudoscience: the notorious 1950 scandal surrounding Immanuel Velikovsky's Worlds in Collision (1950, Worlds in Collision. New York: Macmillan). On several levels, the characterization of Lysenkoism as pseudoscientific served as a template for casting other rejected theories, including Velikovsky's, in the same light. (shrink)

The following three papers (by R.G.A. Dolby, R.N.D. Martin, and A. Thomson) were presented to the Science & Religion Forum at its annual meeting in Liverpool, Britain, in March 1988, under the general theme of Tradition & Authority in Science and Religion. An abbreviated version of the fourth paper given at that meeting re-entitled STS Perspective: Value Systems, by W.F. Williams, is printed on pp. 219-221 of this volume (Vol. 9, No. 4). A copy of the full version is available (...) from either the author or the editorial office. (shrink)

Studie věnuje pozornost problematice demokratizace vědy, v jejímž rámci zaujímá klíčové postavení otázka, v jaké míře a zda vůbec má mít široká veřejnost možnost zasahovat do vědní a výzkumné politiky a participovat na rozhodování v odborných záležitostech. První část studie je věnována představení dvou radikálně odlišných a vzájemně protichůdných pohledů na tuto problematiku, které byly rozpracovány v rámci poválečné filosofie vědy v dílech Michaela Polanyiho a Paula Feyerabenda a v různých podobách spolu soupeří dodnes. Tyto dva pohledy, jež nás staví (...) před volbu mezi odborností na úkor demokracie a demokracií na úkor odbornosti, jsou následně podrobeny kritickému zhodnocení a v opozici k nim je představen alternativní pohled rozvíjený v rámci vědních studií Harrym Collinsem a Robertem Evansem, jenž překračuje nutnost této volby a na základě sociologických výzkumů fenoménu odbornosti nabízí způsob, jak lze odbornost a demokratické hodnoty sloučit dohromady. (shrink)