The principle of differential marginality (Casajus in Theory and Decis 71(2):163-–174) for cooperative games is a very appealing property that requires equal productivity differentials to translate into equal payoff differentials. In this paper we apply this property to axiomatic characterizations of values. We show that differential marginality implies additivity and symmetry under certain conditions. Based on this result, we propose new characterizations of the equal division and the equal surplus division values. Finally, we characterize two classes of (...) convex combinations of values, i.e., α\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$\alpha$$\end{document}-egalitarian Shapley values and α\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$\alpha$$\end{document}-equal surplus division values, by employing differential marginality and establishing the uniqueness of these values on inessential games. (shrink)

Marx's rethinking of the combination between absolute surplus-value and relative surplus-value during the 1860s is very important in order to reconsider the co-presence of different forms of historical temporality and exploitation. Postmodernism presents a picture of a plurality of historical times in which the old lies beside the modern and the sweatshop beside the high-tech factory. Because it fails to provide an explanation of the relation between these forms, postmodernism produces a false image of an 'ahistorical' (...) present. In this article I want to show how the combination of differentials of surplus-value works and why a representation of a plurality of historical temporalities synchronised by the temporality of socially-necessary labour is the most adequate image to comprehend it. The theoretical task is to show how the mature categorial structure of Capital not only does not need an historicist philosophy of history, but is in fact incompatible with it. (shrink)

It is a commonplace in the philosophy of physics that any local physical theory can be represented using arbitrary coordinates, simply by using tensor calculus. On the other hand, the physics literature often claims that spinors \emph{as such} cannot be represented in coordinates in a curved space-time. These commonplaces are inconsistent. What general covariance means for theories with fermions, such as electrons, is thus unclear. In fact both commonplaces are wrong. Though it is not widely known, Ogievetsky and Polubarinov constructed (...) spinors in coordinates in 1965, enhancing the unity of physics and helping to spawn particle physicists' concept of nonlinear group representations. Roughly and locally, these spinors resemble the orthonormal basis or "tetrad" formalism in the symmetric gauge, but they are conceptually self-sufficient and more economical. The typical tetrad formalism is de-Ockhamized, with six extra field components and six compensating gauge symmetries to cancel them out. The Ogievetsky-Polubarinov formalism, by contrast, is Ockhamized, with most of the fluff removed. As developed nonperturbatively by Bilyalov, it admits any coordinates at a point, but "time" must be listed first. Here "time" is defined in terms of an eigenvalue problem involving the metric components and the matrix $diag$, the product of which must have no negative eigenvalues in order to yield a real symmetric square root that is a function of the metric. Thus even formal general covariance requires reconsideration; the atlas of admissible coordinate charts should be sensitive to the types and \emph{values} of the fields involved. Apart from coordinate order and the usual spinorial two-valuedness, Ogievetsky-Polubarinov spinors form, with the metric, a nonlinear geometric object, for which important results on Lie and covariant differentiation are recalled. Such spinors avoid a spurious absolute object in the Anderson-Friedman analysis of substantive general covariance. They also permit the gauge-invariant localization of the infinite-component gravitational energy in General Relativity. Density-weighted spinors exploit the conformal invariance of the massless Dirac equation to show that the volume element is absent. Thus instead of an arbitrary nonsingular matrix with 16 components, 6 of which are gauged away by a new local $O$ gauge group and one of which is irrelevant due to conformal covariance, one can, and presumably should, use density-weighted Ogievetsky-Polubarinov spinors coupled to the 9-component symmetric square root of the part of the metric that fixes null cones. Thus $\frac{7}{16}$ of the orthonormal basis is eliminated as surplus structure. Greater unity between spinors and tensors and the like is achieved, such as regarding conservation laws. Regarding the conventionality of simultaneity, an unusually wide range of $\epsilon$ values is admissible, but some extreme values are inadmissible. Standard simultaneity uniquely makes the spinor transformation law linear and independent of the metric, because transformations among the standard Cartesian coordinate systems fall within the conformal group, for which the spinor transformation law is linear. The surprising mildness of the restrictions on coordinate order as applied to the Schwarzschild solution is exhibited. (shrink)

The Meno problem, asking for the surplus value of knowledge beyond the value of true justified belief, was recently much treated within reliabilist and virtue epistemologies. The answers from formal epistemology, by contrast, are quite poor. This paper attempts to improve the score of formal epistemology by precisely explicating Timothy Williamson's suggestion that ‘present knowledge is less vulnerable than mere present true belief to rational undermining by future evidence’. It does so by combining Nozick's sensitivity analysis of (...) knowledge with Spohn's fact‐asserting epistemic interpretation of conditionals. Accordingly, the surplus value of knowledge lies in a specific kind of stability of knowledge, which differs, though, from that claimed by other so‐called stability analyses of knowledge. (shrink)

It is a commonplace in the philosophy of physics that any local physical theory can be represented using arbitrary coordinates, simply by using tensor calculus. On the other hand, the physics literature often claims that spinors \emph{as such} cannot be represented in coordinates in a curved space-time. These commonplaces are inconsistent. What general covariance means for theories with fermions, such as electrons, is thus unclear. In fact both commonplaces are wrong. Though it is not widely known, Ogievetsky and Polubarinov constructed (...) spinors in coordinates in 1965, enhancing the unity of physics and helping to spawn particle physicists' concept of nonlinear group representations. Roughly and locally, these spinors resemble the orthonormal basis or "tetrad" formalism in the symmetric gauge, but they are conceptually self-sufficient and more economical. The typical tetrad formalism is de-Ockhamized, with six extra field components and six compensating gauge symmetries to cancel them out. The Ogievetsky-Polubarinov formalism, by contrast, is Ockhamized, with most of the fluff removed. As developed nonperturbatively by Bilyalov, it admits any coordinates at a point, but "time" must be listed first. Here "time" is defined in terms of an eigenvalue problem involving the metric components and the matrix $diag$, the product of which must have no negative eigenvalues in order to yield a real symmetric square root that is a function of the metric. Thus even formal general covariance requires reconsideration; the atlas of admissible coordinate charts should be sensitive to the types and \emph{values} of the fields involved. Apart from coordinate order and the usual spinorial two-valuedness, Ogievetsky-Polubarinov spinors form, with the metric, a nonlinear geometric object, for which important results on Lie and covariant differentiation are recalled. Such spinors avoid a spurious absolute object in the Anderson-Friedman analysis of substantive general covariance. They also permit the gauge-invariant localization of the infinite-component gravitational energy in General Relativity. Density-weighted spinors exploit the conformal invariance of the massless Dirac equation to show that the volume element is absent. Thus instead of an arbitrary nonsingular matrix with 16 components, 6 of which are gauged away by a new local $O$ gauge group and one of which is irrelevant due to conformal covariance, one can, and presumably should, use density-weighted Ogievetsky-Polubarinov spinors coupled to the 9-component symmetric square root of the part of the metric that fixes null cones. Thus $\frac{7}{16}$ of the orthonormal basis is eliminated as surplus structure. Greater unity between spinors and tensors and the like is achieved, such as regarding conservation laws. Regarding the conventionality of simultaneity, an unusually wide range of $\epsilon$ values is admissible, but some extreme values are inadmissible. Standard simultaneity uniquely makes the spinor transformation law linear and independent of the metric, because transformations among the standard Cartesian coordinate systems fall within the conformal group, for which the spinor transformation law is linear. The surprising mildness of the restrictions on coordinate order as applied to the Schwarzschild solution is exhibited. (shrink)

It is a commonplace in the philosophy of physics that any local physical theory can be represented using arbitrary coordinates, simply by using tensor calculus. On the other hand, the physics literature often claims that spinors \emph{as such} cannot be represented in coordinates in a curved space-time. These commonplaces are inconsistent. What general covariance means for theories with fermions, such as electrons, is thus unclear. In fact both commonplaces are wrong. Though it is not widely known, Ogievetsky and Polubarinov constructed (...) spinors in coordinates in 1965, enhancing the unity of physics and helping to spawn particle physicists' concept of nonlinear group representations. Roughly and locally, these spinors resemble the orthonormal basis or "tetrad" formalism in the symmetric gauge, but they are conceptually self-sufficient and more economical. The typical tetrad formalism is de-Ockhamized, with six extra field components and six compensating gauge symmetries to cancel them out. The Ogievetsky-Polubarinov formalism, by contrast, is Ockhamized, with most of the fluff removed. As developed nonperturbatively by Bilyalov, it admits any coordinates at a point, but "time" must be listed first. Here "time" is defined in terms of an eigenvalue problem involving the metric components and the matrix $diag$, the product of which must have no negative eigenvalues in order to yield a real symmetric square root that is a function of the metric. Thus even formal general covariance requires reconsideration; the atlas of admissible coordinate charts should be sensitive to the types and \emph{values} of the fields involved. Apart from coordinate order and the usual spinorial two-valuedness, Ogievetsky-Polubarinov spinors form, with the metric, a nonlinear geometric object, for which important results on Lie and covariant differentiation are recalled. Such spinors avoid a spurious absolute object in the Anderson-Friedman analysis of substantive general covariance. They also permit the gauge-invariant localization of the infinite-component gravitational energy in General Relativity. Density-weighted spinors exploit the conformal invariance of the massless Dirac equation to show that the volume element is absent. Thus instead of an arbitrary nonsingular matrix with 16 components, 6 of which are gauged away by a new local $O$ gauge group and one of which is irrelevant due to conformal covariance, one can, and presumably should, use density-weighted Ogievetsky-Polubarinov spinors coupled to the 9-component symmetric square root of the part of the metric that fixes null cones. Thus $\frac{7}{16}$ of the orthonormal basis is eliminated as surplus structure. Greater unity between spinors and tensors and the like is achieved, such as regarding conservation laws. Regarding the conventionality of simultaneity, an unusually wide range of $\epsilon$ values is admissible, but some extreme values are inadmissible. Standard simultaneity uniquely makes the spinor transformation law linear and independent of the metric, because transformations among the standard Cartesian coordinate systems fall within the conformal group, for which the spinor transformation law is linear. The surprising mildness of the restrictions on coordinate order as applied to the Schwarzschild solution is exhibited. (shrink)

In truth, however, value is here the active factor in a process, in which, while constantly assuming the form in turn of money and commodities, it at the same time changes in magnitude, differentiates itself by throwing off surplus-value from itself; the original value, in other words, expands spontaneously. For the movement... is its own movement... is automatic expansion... able to add value to itself... living off-springs...golden eggs...an independent substance....It differentiates itself as original value (...) from itself as surplus value; as the father differentiates himself from himself qua the son, yet both are one and of one age: for only by the surplus value of £10 does the £100 originally advanced become capital, and so soon as this takes place, so soon as the son, and by the son, the father, is begotten, so soon does their difference vanish, and they again become one, £110.3. Marx (1967, 1:171-73)The future must no longer be determined by the past....Anticipation is imperative...in order to be more than herself...“impossible” subject, untenable in a real social framework....But secretly, silently, deep down inside, she grows and multiplies...she goes and passes into infinity....Heterogeneous, yes...she does not cling to herself; she is dispersible, prodigious, stunning, desirous and capable of others, of the other woman that she will be, of the other woman she isn't, of him, of you...she is everywhere, she exchanges...in the exchange that multiplies....She does not “know” what she's giving, she doesn't measure it...she finds not her sum but her differences....In one another we will never be lacking. Cixous (1986, 309-20)If God is dead, everything is permitted, then the conclusion imposing itself within the text of our experience is that the response to God is dead, is nothing is any longer permitted. Lacan (1991, 139)It is therefore absolutely impossible to control capitalism from the metalevel, because capitalism itself is deconstructive.Karatani (1995, 71). (shrink)

Based on a historical study of fee regulation in the employment agency business, the claim that temporary help agencies charge “no fees” to workers is challenged. It is found that the claim rests on technical changes in the statutory definitions of fee and employment agency won through industry lobbying efforts, changes that simply mask traditional fee-charging methods. The article traces the evolution of fee-charging practices in the post-World War II period and points to a new version of “fee splitting” as (...) a prevalent wage setting practice in the staffing industry. The implications of these developments for wage depression and income redistribution are explored. (shrink)

The famous Marxian ‘transformation problem’ originated from a research manuscript written by Marx in 1864/65, from which Engels assembledCapitaliii. Unequal capital compositions, equal rates of surplus-value and equal rates of profit among different sectors are posited, and reconciled using the problematic concept of ‘prices of production’. Yet the assumption of equal rates of surplus-value is at odds with the subsequent text ofCapitali, where Marx presents various determinants of the rate of surplus-value, and connects productive (...) powers of labour diverging between sectors with divergentvalue-generating potenciesof labour. Given the other determinants, diverging rates of surplus-value then result. Marx disregarded these productive power differentials when he originally formulated his transformation. In a reconstruction, building onCapitali, this omission is rectified. It makes prices of production and hence the dual account systems redundant. The transformation problem then evaporates. (shrink)

Together again for the first time, Marx and Durkheim join forces in the pages of Disintegration: Bad Love, Collective Suicide, and the Idols of Imperial Twilight for a dialectical exploration of the moral economy of neoliberalism, animated, as it is not only by the capitalist chase for surplus value, but also by an immortal vortex of sacred powers. Classical sociology and psychoanalysis are reconstituted within Hegelian social ontology and dialectical method that differentiates between the ephemeral and free and (...) the eternal and fixed aspects of modern life. (shrink)

Building on the insights of Capital I, and dispatching common liberal misunderstandings of those insights, Claus Peter Ortlieb makes the case for what mainstream economists euphemistically call “secular stagnation”: that is, an economic crisis that cannot be resolved by economic means.

This book provides an analytical understanding of some of Tagore’s most contested and celebrated works and ideas. It reflects on his critique of nationalism, aesthetic worldview, and the idea of ‘surplus in man’ underlying his life and works. It discusses the creative notion of surplus that stands not for ‘profit’ or ‘value’, but for celebrating human beings’ continuous quest for reaching out beyond one’s limits. It highlights, among other themes, how the idea of being ‘Indian’ involves stages (...) of evolution through a complex matrix of ideals, values and actions—cultural, historical, literary and ideological. Examining the notion of the ‘universal’, contemporary scholars come together in this volume to show how ‘surplus in man’ is generated over the life of concrete particulars through creativity. The work brings forth a social scientific account of Tagore’s thoughts and critically reconstructs many of his epochal ideas. Lucid in analysis and bolstered with historical reflection, this book will be a major intervention in understanding Tagore’s works and its relevance for the contemporary human and social sciences. It will interest scholars and researchers of philosophy, literature and cultural studies. (shrink)

Political philosophy provides the basis for political praxis; it requires a functional understanding of society in which the economy is an extraordinarily significant component. This is no less true of Marxism than it is of liberalism: it is all at once a political philosophy and an analysis of political economy, both of which are oriented toward and motivated by an agenda of human engagement. Often obscured by the complexities of Marxian analysis is the nature of its critique of liberalism, which (...) preceded it and to which it was intended as both a theoretical and practical response. Beyond Liberalism offers a detailed elaboration of that critique, restoring to a central position the long history of imperialism that has been at the heart of capitalism since its inception and explicating Marxism's relevance to the contemporary era of globalization, in particular financial globalization. The dramatic opposition between the two political theories turns heavily on their differential perspectives on individual freedom. The book provides a corrective to the common misperception that, while liberalism is concerned with such freedom, Marxism and the socialist agenda it advances emphasize instead a contrasting sphere of the collective. Prabhat Patnaik argues that liberalism and Marxism give very different analyses of the status of the individual within capitalism and that the Marxist alternative leads to the conclusion that the freedom of the individual can be realized only by means of an upheaval of capitalism through collective action. It is as relevant to Keynesian social democracy, marked by state intervention to alleviate conditions of unemployment, poverty, and inequality, as it is to classical liberalism. In the latter the functioning of the capitalist system constrains individual freedom; in the former, on the capacity of the state to intervene, which is especially apparent in our era in which finance is globalized but states remain national. Capitalism requires a degree of unemployment, for example, to limit wages and maintain the accrual of surplus value. The system also tends toward the centralization of capital, augmenting the power imbalance of global corporations over nation-states and the coercion of individual agency. It is only through the overturning of the system and the adoption of a socialist system that individual freedom and economic equality can be fostered. (shrink)

The article argues that Honneth’s idea of reconstructive critique represents a type of immanent critique. Starting from the objection raised by Rahel Jaeggi, who considers the reconstructive critique to be a genre of internal criticism devoid of any transformative negativity, it seeks to show, on the contrary, that Honneth’s notion of “surplus of validity” plays a role of transcendence within the historical reality, which could explain his understanding of reconstructive critique as immanent one. In the second part, the paper (...) displays how Honneth applies this conception of critique to solve the division within Critical Theory, induced by Habermas’s use of the idea of rational reconstruction, which would have split off the tasks of founding the normative criteria and discovering immanently elements for the social transformation. In the third part, the category of surplus of validity is investigated in its function of enlightening possibilities of transformation following an “universal-particular dialectic”. In its final part, the paper addresses some conceptual difficulties in Honneth’s attempt to clarify the systematic value and philosophical meaning of the surplus of validity within the framework of normative reconstruction. (shrink)

Translated by Drew S. Burk and Anthony Paul Smith. Excerpted from Struggle and Utopia at the End Times of Philosophy , (Minneapolis: Univocal Publishing, 2012). THE END TIMES OF PHILOSOPHY The phrase “end times of philosophy” is not a new version of the “end of philosophy” or the “end of history,” themes which have become quite vulgar and nourish all hopes of revenge and powerlessness. Moreover, philosophy itself does not stop proclaiming its own death, admitting itself to be half dead (...) and doing nothing but providing ammunition for its adversaries. With our sights set on clearing up this nuance, we differentiate philosophy as an institutional entity, and the philosophizability of the World and History, of “thought-world,” which universalizes the narrow concept of philosophy and that of “capital.” We also give an eschatological and apocalyptical cause to this end, of “times” or “ages” rather than those of philosophical practice. Last but not least, it is the Future itself in the performativity of its ultimatum that determines this end times, reversing these times from the Identity the Future accorded to it, withdrawing the thought-world from the lie of its death. Why this style of axioms and oracles, these more or less subtle distinctions, old and debased, with an appeal to the ultimata , to end times and last words? We fight to give, parallel to the concept of Hell, its new theoretical position, for its philosophical return and its non-philosophical transformation. No more so than any other word, Hell is not a metaphor here, just the Principle of Sufficient World. Every man, no doubt, has his “hell” readily available, connivance, control, conformism, domestication, schooling, alienation, extermination, exploitation, oppression, anxiety, etc. We have our little list that the Contemporaries established in the previous century in the same way one used to construct lists of virtues and vices or honors and wealth. They invented it for us without knowing it, for us-the-Futures who have as our responsibility to invent its use. In the Christian and Gnostic tradition, the struggle of the End Times takes place “on earth.” The most sophisticated of believers have it taking place in Heaven as well, above all in Heaven. The various kinds of gnosis imagine infinite falls and vertiginous highs, the vertigo of salvation. On Earth as in Heaven, a hell is available. The Marxists have the law of profit and the control of production, the class struggle Capital imposes on man. The Nietzscheans, the dull grumble of the struggle in the foundations of World and History, the domestication of man, the society of control. The phenomenologists, the capture of being, the most superficial amongst them, the age of suspicion. But all of these “hells” are taken from World, History, Society, and Religion. What we call Hell is no longer of the order of these specific and total intra-worldly generalities, it is both more singular and more universal, no longer being at all of the same order, it is the determinant Identity of these small hells strung out through history but unified here in the name of the last Humaneity. It is even found within the French idiom for hell [ enfer ], en-fer literally means “in-irons.” We are as much “in-irons” as we are “alive” [ en-Vie ]. We believe in Hell but as non-philosophers and it is even because we are non-philosophers that we can believe in it outside of any sort of religion. Hell is less mythological than ideological, it combines philosophizability with universal capital. Under what form? A single term could work for them without being a metaphor or something they would participate in by analogy, a more innovative and conjectural term than control, more universal than profit. It would denote the growing and permanent extortion of a surplus-value of communication, of speed and of urgency in change, in productivity and in work, in the pressure of images and slogans. It would be worse than solicitation, more tenacious than capture, more active and persecutory than control, softer and more insidious than a frontal attack, just as perverse as questioning and accusation, less brutal and offensive than extermination, less ritualized than inquisition, it would be soft and dispersed, instantaneous and vicious, it would be a crime without declared violence. Collusion and conformism, it would be afraid to show itself. Related to rumor, from which it borrows its infinite and tortuous ways. It is harassment. As a modernized form of Hell, perhaps harassment has a long future in front of it, of innocent torture, slow assassination, in short the fall, but radical with no way of recovering and which tolerates only salvation. THE PHILOSOPHICAL PAST OF NON-PHILOSOPHY Non-philosophy is thus Man as the utopian identity of the philosophical form of the World, a utopia destined to transform it. We still have to understand these equations, in particular that of the being-uni-versed from Man, and this book adheres to this by re-exposing non-philosophy in a different way via one of its new possibilities. It uses this opportunity to once again take up formulations that lead to objections answering certain external critics, as well as revisiting diverging interpretations specific to non-philosophers. A portion of this book is devoted to going through these theories via a strict or “lengthy” presentation of non-philosophy, and its defense against more expeditious solutions. This work of rectification is the occasion, merely the occasion, for refocusing non-philosophy on Man (the “Man-in-person,” “Humaneity”), and in a more innovative manner, on its utopian vocation established since the book Future Christ . As for this “occasion,” it is quite obvious. A school of posture, not to say a school of thought, supposes a minimum of closure from the most liberating of knowledge, a heritage, its utilization, and its no less certain dispersal. Within its development, a variety of interpretations will no doubt appear, deviations that are as much normalizations, and a struggle against this multiplication of divergent tendencies. These are perhaps not inevitable evils, especially here, merely a normal development according to the twisting paths of history. But the problem is made worse by the fact that this school of non-philosophers is that of utopia. Not the former attempts devoted to commenting on the worst authoritarian and criminal forms of the past and the present, but utopia as the determinant principle for human life, or to put it another way, of the Future as an irreducible presupposition of (for) thinking the World and History. Non-philosophers are engaged in an aleatory navigation between the respect for the most rigorous utopia, whose rules are not that of the reproductive imagination but those from the Future determining imagination itself, as well as the temptations, diversions, and remorse of history. Little by little, we will begin to understand that the Future as we understand it no longer has any temporal consistency or positive content, without being an empty form or a nothingness, but that it is foreclosed to past and present History, just as it is foreclosed to the place of places, the World, and that it is the only method for establishing the practice of thinking in a non-imaginary instance. Because it is the World and History that are imaginary and have a terrible materiality, it is not necessarily utopia. We will overlap two objectives here: the defense of non-philosophy against the (non-) philosophers that we are, only occasionally, and the introduction of philosophy to a rigorous future. Together they set out to definitively render, without any possible return to philosophical conformism or towards the facilities of the past and present, the non-philosophical enterprise understood as utopia or uchronia. Imagination and speculation, left to themselves and thus undistinguished, are quite good for participating in the grand game of History but have little value or worse for the Future which is unimaginable and unintelligible and must be maintained as such. MAN-IN-PERSON AS SUSPENSION OF THE PHILOSOPHICAL CHORA The point where philosophical resistance is concentrated is without a doubt the invention of the Name-of-Man, first name, oracular as much as axiomatic, of the determining cause for the non-philosophical posture. And that which concentrates the differends is the style of non-philosophy as identity that possesses the dual aspect, of discipline and of the oeuvre, of the theorem and of the oracle. But the real difficulty in understanding the simplicity of non-philosophy is profoundly hidden in the depths of philosophy itself. Because philosophy, from Parmenides to Derrida, even Levinas, continues to be a divided gesture, without a veritable immanence, transforming its thematic contents of transcendence in also forgetting to transform the operative transcendence in the element from which the ontology of surface is established which we will call, in memory of Plato, the chorismos. The general effect of the chora literally gives place to philosophy, demanding binding and sutures to which we will once and for all “oppose” the Man-in-person, his power of cloning, and his future being. All philosophy contains a hinter-philosophy in which it deploys its operations and weaves its tradition like an understudy of a topographical nature and in the best of cases being itself topological. Philosophy as well consists of two levels, its pre-ontological operative conditions on the one hand, and its superficial theme on the other, it too has its presupposed, but is not aware of it or erases it within the unity of appearance named Logos. Rightly, the Logos, and its flash or lightning nature, possesses a “dark precursor,” the chora, which is as much a virtual image, and philosophy, dazzled by its own lightning flash, seems to completely forget about it at the same time it sets itself up within it. Non-philosophy risks taking this same path, of confusing what it believes to be the real with its phantom double, contenting itself to working on the thematic level of philosophy, not its surface objects and its idle chatter (we stopped talking about this a long time ago and in any case they are merely simple materials for inducing a work of transformation), but the transcendence-form of its objects. In the end it risks, through precipitation, taking back up the heritage of philosophy, a heritage of a misunderstood presupposed, even more profound than the play of transcendences. This is what the imperative of the radicality of immanence meant, to treat immanence in an immanent manner, not to make a new object out of it. And from here we get non- (philosophy) and its refusal of the Platonic chorismos , symbol of all abstraction, and thus all transcendental appearance. There are no illusions. The message will leave a heritage in tattered pieces and interpretations. But it was difficult not to dispute the differend to its core. There will be complete confusion of the multiple, possible, and necessary effectuations of non-philosophy with its interpretations. The non-philosophical or human freedom of philosophical effectuation and the philosophical freedom of interpretation. Effectuations demand non-philosophy to return to zero from the point of view of its philosophical material and thus also but within these limits the formulation of its axioms , but in no way providing from the outset divergent interpretations of the aforementioned axioms. They are divergent because they do not take into account the material from which these axioms are derived within non-philosophy, and because they do not see themselves as symptoms of another vision of the World. The utterances of non-philosophy are not mathematical theorems and pure axioms, they merely have a mathematical aspect . They are, by their extraction or origin, mathematical and transcendental. And by their determined function in-Real, within non-philosophy, they are identically in-the-last-Humaneity entities which have an aspect of an axiom and an aspect of interpretation (or an oracular aspect as we say) that attempts (sometimes it is ourselves who provide the occasion) to isolate and transform, in complete freedom of interpretation. There will be an opportunity to complain about the complex character of the language of non-philosophy, an idiom saturated with classical references, sophisticated in a contemporary way. Its freedom of decision up against the whole of philosophy demands these effects of “complication” and “privatization,” as the saying goes. But it also demands fighting against the drift [ dérive ] of the pedagogical-all and the mediatic-all that leads philosophy into the shallow depths of opinion, which is the site of its impossible death. The noble idealism of “pop-philosophy” has been consumed into a “philo-reality;” against this we propose philo-fiction. Parricide, which is at the bottom of these interpretations and which we can judge as being quite fertile, although it has informed tradition, only takes place once or within one lone meaning. In regards to Parmenides, it was possible; Plato introduced the Other as non-being and language, bringing into existence the philosophical system of the World, but is it possible to repeat it again with the same fecundity in regards to non-philosophy, this time in introducing (non) religion or (non) art, still mixing them without taking into account this mixture, alternatively as a philosophical or religious resentment? If philosophy begins via a crime, it is no doubt obliged to continue down similar pathways, to the effect that the crimes of philosophy, once the founding crime has been committed, are a reaction of self-defense. It is undoubtedly from this that we get Marx’s declaration that history begins by tragedy and repeats itself or ends in farce. The preservation of rigor and fecundity is, in every respect, a psychologically difficult task within a theory such as non-philosophy. Having posited an essential objective of liberation in regards to philosophy and its services, one has often understood this objective as an authorization of providing particular interpretations of its axioms and ends up obliterating their scope. This ends up confusing, on one hand, two kinds of freedoms in regards to non-philosophy, the freedom of its interpretations and the freedom of its effectuations. On the other hand, any defense of “principles” against precipitated interpretations is immediately taxed with a will to orthodoxy, a prohibitive objection when we are dealing with, as is the case here, a heretical theory of thought. Nevertheless, it is time to stop confusing heresy as the cause of thought with an ideology of heresies, which is certainly not at all our object, but rather a form of normalization. As for the “disciplinary” aspect, which is not the only aspect, it demands something other than philosophical “answers to objections,” a precision in the definition and use of its procedures in the formation of utterances, since non-philosophy is neither a supplementary doctrine interior to philosophy nor a vision of the world but one whose priority is a “vision of Man,” or rather Man as “vision” that implies a theory and a practice of philosophy. In the end, struggle is only one aspect of non-philosophy, not its whole or telos, struggle coming only from its materiality. In particular, if the discipline of non-philosophy is inseparable from struggle, it is not a question of reducing the monomaniacal obsession of its “marching orders.” This would reduce its complexity and kill its indivisibility, deploying it in a “long march” and a form of Maoization whose philosophical presuppositions no longer have any pertinence here, a case of the One and the Two, which are now cloned and no longer tied together. More generally, non-philosophy is a complex thought composed of a multitude of aspects, which is to say, unilateral interpretations, of a philosophical origin but reduced by their determination in-the-last-instance . The “liberalism” of non-philosophy is merely one of the aspects of which it is capable, not an essence. Similarly, it is only capable of having a “Maoist” aspect. Let us generalize. The weakness of non-philosophy is due to a specific cause, the determination-in-the-last-Humaneity of a subject for the World. Everything that has a right to the philosophical city can be said about it in turn and in a retaliatory mode since Man contributes nothing of himself that Man takes from the World. We can consider non-philosophy as being pretentious, absurd, idealistic, empty, materialistic, formalistic, contradictory, modern, post-modern, Zen, Buddhist, Marxist; it endures or tolerates, perhaps “appeals” to, or at least renders possible, sarcasms, ironies, and insults without even talking about the misunderstandings, partly for the same reason as psychoanalysis. All of this goes beyond simple “deviations.” They are its aspects, which is to say, its “unilateral” philosophical interpretations in both senses of the word, being either sufficient coming from the mouth of philosophers, or reduced to their absolute dimension of sufficiency and totality in the mouths of non-philosophers, and both times due to the weakness and strength of Man-in-person as their determination only in-the-last-instance. The non-philosopher is certainly not a Saint Paul fantasizing about a new Church. The non-philosopher is either a (Saint) Sebastian whose flesh is pierced with as many arrows as there are Churches, or a Christ persecuted by a Saint Paul. What is engaged in here is the practice of retaliation. A negative rule of the non-philosophical ethics of outlawed discussion by way of argumentation (the sufficient is you, the orthodox one is always you, you are the fashionable one, and when a master you are someone else) that is founded on the confusion of effectuations of non-philosophy and of its overall interpretations. Retaliation is the law but as with any too-human law, it must acquire a dimension that displaces it, or rather emplaces it and takes away its authority but not all of its effectiveness. If the non-philosopher is only authorized by himself, which is to say by philosophy but limited by the Real-of-the-last-instance, its critique of other non-philosophers can merely be retaliatory under the same conditions, only by the Real limited in-the last-instance. THE TREE OF PHILOSOPHICAL SAINTLINESS The thematic horizon or material of these debates is in the relationships between philosophy, religion as gnosis, and non-philosophy. It is inevitable, regarding non-philosophers in general (whether they are non-philosophers by name or simply its neighbors) that we often end up evoking Marx’s Holy Family and imagining, arranged on the neighboring branches of the tree of philosophy and annexed, sometimes abusively, to non-philosophy, authors who would quite evidently and quite rightly refuse this label. So it is that we find, for example, a Saint Michel, a Saint Alain, a Saint Gilles 1 without even mentioning the youngest who aspire as well to the freedom of “saintliness” and who make their muted voices heard here. If there is a Holy Family of non-philosophers, it extends completely beyond these three, provided that the sectarian spirit can save us. This book is organized in the following manner: To begin, in order to recall the essential part of the problematic, we have organized a Summary of Non-Philosophy , a vade-mecum of notions and basic problems, in a classical style. Secondly, there is Clarifications On the Three Axioms of Non-Philosophy , designed to posit their proper use as much as to elucidate their meaning. Thirdly, an analysis of Philosophizability and Practicity , both being extreme constituents of philosophical material or the contents of the third axiom. Fourthly, the heart of this work: Let us Make a Tabula Rasa of the Future or of Utopia as Method . Fifthly, we have a theoretical outline of a non-institutional utopia, The International Organization of Non-Philosophy, L’Organisation Non-Philosophique Internationale, (ONPHI) already created in practice but under the conditions of possibility and functioning from which here we put into question “de jure,” thus not without a perplexity concerning “facts,” in any case, without the capability of “getting to the bottom of things.” Sixthly, an essay characterizing The Right and the Left of Non-Philosophy , a brief topology of several philosophizing and normalizing positions of proponents or tenants of this problematic. Seventhly, Rebel in the Soul: A Theory of Future Struggle , a systematic discussion starting from a confrontation of non-philosophical gnosis and non-religious gnosis to the extent that they pose, posed or perhaps still will pose themselves as rivals to non-philosophy in a mixture of fidelity and infidelity. Despite the fact that it can also be read as putting non-philosophy into perspective: it pits against a standard Platonism two contemporary appropriations of Gnosticism. On the basis of the paradigm of Man who never ceases to come as the Future-in-person, each one of these moments strives to reestablish not the “true” non-philosophy and its orthodoxy, but the minimal conditions to respect in order to allow for its maximum fecundity. And in order to bring about one of the last possibilities of its development, making explicit Humaneity as a utopia-for-the-World. In introducing these considerations in the form of a “testament” and “ultimatum,” we want to indicate two things: First, that this is the last time we will intervene in order to caution non-philosophers against the temptation of returning and looking backwards towards philosophy. Only a disillusioned nostalgia for the former World and its traditions barely remain permissible to us.… Secondly, that non-philosophy is also a sort of ultimatum for considering one’s life and transforming one’s thought from the perspective of a uni-version rather than a conversion. Man as future is this ultimatum in action, not an impatient self-proclaimed genius, and philosophy is his testament. It is obviously the ultimatum that determines this testament as “old” with a view towards a life that is, itself, non-testamentary. In and of itself, the “old” can never bear a veritable eschaton. Thus, this book intersects according to the logic of this paradigm, under the sign of the ultimate or “last” as future, philosophy as testament and cautionary note for maintaining the non-philosophical oeuvre as “future” or “utopian.” We will see that between these two dimensions it cradles a theory of struggle. In the end, this book envisions non-philosophers in multiple ways. It inevitably sees them as subjects of knowledge, most often academics insofar as life in the world demands, but above all as close relatives of three great human types. The analyst and political militant are quite obvious, for non-philosophy is close to psychoanalysis and Marxism insofar as it transforms the subject in transforming philosophy. Here again, one must have a sense not of certain nuances but of aspects (of the interpretations, albeit unilateralized) and not in order to construct a simple proletarization or militarization of thought as theory. To be rigorous, rather than authoritarian or spiteful, is its task. And lastly, non-philosophy is a close relative of the spiritual but definitely not the spiritualist. Those who are spiritual are not at all spiritualists, for the spiritual oscillate between fury and tranquil rage, they are great destroyers of the forces of Philosophy and the State, which are united under the name of Conformism. They haunt the margins of philosophy, gnosis, mysticism, science fiction and even religions. Spiritual types are not only abstract mystics and quietists; they are heretics for the World. The task is to bring their heresy to the capacity of utopia, and their utopia to the capacity of the paradigm. NOTES We will recognize allusions, and sometimes references, to closely related or distant themes, but which are related, in the work of Michel Henry, Alain Badiou and via the representative of “non-religious” gnosis of a Platonic origin, in Gilles Grelet. It goes without saying that these discussions are current and local, neither concerning the ensemble of doctrines nor prejudging the eventual evolution of certain amongst them. This concerns defining certain proximities with non-philosophy (rather than adversaries which in some sense they are) and typological and emblematic differends (rather than conflicts with a certain author). (shrink)

In the following, I will discuss the current social reaction to the ecological crisis and the ways in which society reacts to technological risks, which can be understood primarily as a reaction to scientific and moral or ethical uncertainty. In the first section, I will clarify what is meant by scientific and moral or ethical uncertainty. In the second section, I will contrast Max Weber's differentiation of science, law [Recht) and morality in the modern world with the process of de-differentiation (...) of these value spheres, a trend which can be observed in the present-day context of the ecological crisis and technological risks. We shall see that social contradictions emerge in the functional relationships between these value spheres, and that such contradictions go hand in hand with these value spheres or contexts of discourse either losing their original function or becoming transformed. Science forfeits its role as a functional authority and becomes a strategic resource for politics. Law becomes a basic constituent of an amoral form of negotiation, which can no longer be properly grasped in terms of legal categories. Morality is transformed into fear, and economics yields unprofitable practices. In the third section, I will in attempt to open up the moral and ethical dimension of how to deal with uncertainty with the help of discourse theory (Apel, 1988; Habermas, 1996), as well as outline a possible solution. (shrink)

In the following, I will discuss the current social reaction to the ecological crisis and the ways in which society reacts to technological risks, which can be understood primarily as a reaction to scientific and moral or ethical uncertainty. In the first section, I will clarify what is meant by scientific and moral or ethical uncertainty. In the second section, I will contrast Max Weber's differentiation of science, law [Recht) and morality in the modern world with the process of de-differentiation (...) of these value spheres, a trend which can be observed in the present-day context of the ecological crisis and technological risks. We shall see that social contradictions emerge in the functional relationships between these value spheres, and that such contradictions go hand in hand with these value spheres or contexts of discourse either losing their original function or becoming transformed. Science forfeits its role as a functional authority and becomes a strategic resource for politics. Law becomes a basic constituent of an amoral form of negotiation, which can no longer be properly grasped in terms of legal categories. Morality is transformed into fear, and economics yields unprofitable practices. In the third section, I will in attempt to open up the moral and ethical dimension of how to deal with uncertainty with the help of discourse theory, as well as outline a possible solution. (shrink)

Objectives: To investigate the quality of consent gained for the use in research of tissue that is surplus after surgery. To compare the use of two consent forms: a simple locally introduced form and a more complex centrally instigated form. To discuss the attitudes of patients towards the use of their surplus tissue in research.Design: Data were collected through interviews and analysed with a combination of quantitative and qualitative analytical techniques.Participants and setting: Patients of the breast care unit (...) at a teaching hospital were interviewed at home or in a quiet room at the hospital.Results: 57 people were interviewed out of 81 approached, between October 2003 and March 2004. Most participants had a poor level of knowledge about the consent they had given, but reported being happy about having given it. The patients who had signed the locally introduced form had considerably more knowledge than those who had signed the centrally instigated form . Participants considered being well informed to be less important than believing that their opinions were valued and respected.Conclusions: The findings suggest that traditional models of informed consent are not universally applicable and, in this case, seem to overstate what people wish to know. The simple consent form achieved a better quality of informed consent and provided a better model of practice than the complex form, and it seemed that a focused approach to consent seeking is more effective and acceptable than more complex approaches. (shrink)

This study examines how the sell-side analysts interpret firms’ corporate social responsibility activities. Specifically, we examine the differential impact of overall, legal, and normative CSR on the analysts’ earnings forecast dispersion, stock return volatility, cost of equity capital, and firm value. Employing a sample of U.S. public firms during 1993–2009, we find that overall CSR intensities reduce analyst dispersion of earnings forecast, volatility of stock return and cost of capital , and increase firm value. However, its impact is (...) reduced for firms with better accounting and disclosure quality. When we disaggregate CSR into legal and normative CSR, we find that legal CSR decreases analysts’ dispersion, stock return volatility, and COC, while legal CSR increases firm value. The sell-side analysts tend to have less information asymmetry regarding the net benefits of pursuing CSR that is required by laws. We find, however, that the benefit of having normative CSR realized in 1 year lag such that analyst dispersion, stock return volatility, COC decrease, respectively, and firm value increases. Furthermore, we find that the benefit of normative CSR is offset for firms with higher accounting and disclosure quality. (shrink)

Food charity in the United States has grown into a critical appendage of agro-food supply chains. In 2016, 4.5 billion pounds of food waste was diverted through a network of 200 regional food banks, a fivefold increase in just 20 years. Recent global trade disruptions and the COVID-19 pandemic have further reinforced this trend. Economic geographers studying charitable food networks argue that its infrastructure and moral substructure serve to revalue food waste and surplus labor in the capitalist food system. (...) The political–legal framework undergirding this revaluation process however is still poorly understood. Drawing on a 6-year institutional ethnography of the food banking economy in West Virginia, this paper takes a supply-side approach to examine the material and moral values driving the expansion of food waste recovery as hunger relief. Empirically, it focuses on the laws, contracts and fiscal incentives regulating charitable food procurement at the U.S. Department of Agriculture and Feeding America. The assemblage of government agencies, private businesses and non-profit organizations enrolled into this gift economy at different scales I argue, serves to enclose food waste into a public–private governance structure that regulates food surpluses and ensures these will not disrupt the scarcity logics driving profitability along primary food circuits. (shrink)

A situation, in which a finite set of players can obtain certain payoffs by cooperation can be described by a cooperative game with transferable utility, or simply a TU-game. A (point-valued) solution for TU-games assigns a payoff distribution to every TU-game. In this article we discuss a class of equal surplus sharing solutions consisting of all convex combinations of the CIS-value, the ENSC-value and the equal division solution. We provide several characterizations of this class of solutions on (...) variable and fixed player set. Specifications of several properties characterize specific solutions in this class. (shrink)

By an “organism” I mean a living thing, in the most ordinary sense. There is an “organic theory of nature” in which the term “organism” is extended so as to include atoms, molecules, crystals, colloidal micelles, etc.; such constellations of parts have been called “inorganic organisms” by Driesch. I shall regard them as the “results of organization.” As we know them they are “models”, and they exist in the minds of physicists just as differential equations are in the minds of (...) mathematicians. They express arrangements just as a trade union is an arrangement, and just as artifacts, such as the nest of a chaffinch or the sleeping-bag of an Arctic explorer, are expressions of arrangements. (shrink)

By an “organism” I mean a living thing, in the most ordinary sense. There is an “organic theory of nature” in which the term “organism” is extended so as to include atoms, molecules, crystals, colloidal micelles, etc.; such constellations of parts have been called “inorganic organisms” by Driesch. I shall regard them as the “results of organization.” As we know them they are “models” , and they exist in the minds of physicists just as differential equations are in the minds (...) of mathematicians. They express arrangements just as a trade union is an arrangement, and just as artifacts, such as the nest of a chaffinch or the sleeping-bag of an Arctic explorer, are expressions of arrangements. (shrink)

Understanding the individual-level factors associated with sustainable behaviour in the workplace is important to advance corporate ethics and sustainability efforts. In two studies, we simultaneously assess the role of core values and personality traits in relation to a broad set of sustainability actions, both beneficial and harmful. Results from a student sample and then a national sample confirm that values and personality are distinct constructs that incrementally and differentially predict economic, social, and environmental outcomes. We successfully replicate previous findings pertaining (...) to values and find that, controlling for values, the personality dimension of Honesty–Humility is the strongest negative predictor of harmful actions. Our analyses highlight the unique characteristics of values and personality and their distinct implications for ethical and sustainable management practice. By assessing values and personality together, we also contribute to more general efforts within psychology to develop an integrative view of the person. (shrink)

We revisit the Nowak (Int J Game Theory 26:137–141, 1997) characterization of the Banzhaf value via 2-efficiency, the Dummy player axiom, symmetry, and marginality. In particular, we provide a brief proof that also works within the classes of superadditive games and of simple games. Within the intersection of these classes, one even can drop marginality. Further, we show that marginality and symmetry can be replaced by van den Brink fairness/differential marginality. For this axiomatization, 2-efficiency can be relaxed into superadditivity (...) on the full domain of games. (shrink)

This paper is to investigate the existence and uniqueness of solutions for an integral boundary value problem of new fractional differential equations with a sign-changed parameter in Banach spaces. The main used approach is a recent fixed point theorem of increasing Ψ − h, r -concave operators defined on ordered sets. In addition, we can present a monotone iterative scheme to approximate the unique solution. In the end, two simple examples are given to illustrate our main results.

We revisit the characterization of the Shapley value by van den Brink (Int J Game Theory, 2001, 30:309–319) via efficiency, the Null player axiom, and some fairness axiom. In particular, we show that this characterization also works within certain classes of TU games, including the classes of superadditive and of convex games. Further, we advocate some differential version of the marginality axiom (Young, Int J Game Theory, 1985, 14: 65–72), which turns out to be equivalent to the van den (...) Brink fairness axiom on large classes of games. (shrink)

A situation, in which a finite set of players can obtain certain payoffs by cooperation can be described by a cooperative game with transferable utility, or simply a TU-game. A (point-valued) solution for TU-games assigns a payoff distribution to every TU-game. In this article we discuss a class of equal surplus sharing solutions consisting of all convex combinations of the CIS-value, the ENSC-value and the equal division solution. We provide several characterizations of this class of solutions on (...) variable and fixed player set. Specifications of several properties characterize specific solutions in this class. (shrink)

The dispute over the viability of various theories of relativistic, dissipative fluids is analyzed. The focus of the dispute is identified as the question of determining what it means for a theory to be applicable to a given type of physical system under given conditions. The idea of a physical theory's regime of propriety is introduced, in an attempt to clarify the issue, along with the construction of a formal model trying to make the idea precise. This construction involves a (...) novel generalization of the idea of a field on spacetime, as well as a novel method of approximating the solutions to partial-differential equations on relativistic spacetimes in a way that tries to account for the peculiar needs of the interface between the exact structures of mathematical physics and the inexact data of experimental physics in a relativistically invariant way. It is argued, on the basis of these constructions, that the idea of a regime of propriety plays a central role in attempts to understand the semantical relations between theoretical and experimental knowledge of the physical world in general, and in particular in attempts to explain what it may mean to claim that a physical theory models or represents a kind of physical system. This discussion necessitates an examination of the initial-value formulation of the partial-differential equations of mathematical physics, which suggests a natural set of conditions---by no means meant to be canonical or exhaustive---one may require a mathematical structure, in conjunction with a set of physical postulates, satisfy in order to count as a physical theory. Based on the novel approximating methods developed for solving partial-differential equations on a relativistic spacetime by finite-difference methods, a technical result concerning a peculiar form of theoretical under-determination is proved, along with a technical result purporting to demonstrate a necessary condition for the self-consistency of a physical theory. (shrink)

We introduce a family of proportional surplus division values for TU-games. Each value first assigns to each player a compromise between her stand-alone worth and the average stand-alone worths over all players, and then allocates the remaining worth among the players in proportion to their stand-alone worths. This family contains the proportional division value and the new egalitarian proportional surplus division value as two special cases. We provide characterizations for this family of values, as well (...) as for each single value in this family. (shrink)

The aim of this research was to establish linear relations (association and prediction) and inferential relations between three constructs at different levels of psychological research –executive dysfunction(microanalysis),self-regulation(molecular level), andself-vs.external regulation(molar level), in the prediction of emotion regulation difficulties. We hypothesized that personal and contextual regulatory factors would be negatively related to levels of executive dysfunction and emotion regulation difficulties; by way of complement, non-regulatory and dysregulatory personal, and contextual factors would be positively related to these same difficulties. To establish relationships, (...) we used a retrospective,ex postfacto design, where 298 university students voluntarily participated by completing standardized self-reports. Linear and structural correlational, predictive analyses were performed, as well as inferential analyses. Results were consistent and validated the proposed hypotheses, for both association and prediction. The most important result refers to the discriminant value of the five-level combination heuristic for predicting Executive Function and External (contextual) Dys-Regulation. In conclusion: (1) both personal and contextual regulation factors must be analyzed in order to better understand the variation in executive functions and emotion regulation difficulties; (2) it is important to continue connecting the different levels of the constructs referring to self-regulation, given their complementary role in the behavioral analysis of regulation difficulties. (shrink)

de Bruin et al. (The Stanford Encyclopedia of Philosophy, Stanford University, Stanford, 2018) write that it is a philosophically interesting question “whether there is such a thing as an 'intrinsic' value of financial assets” noting that the calculation of any intrinsic price will depend, in part, on subjective elements. McCauley suggest that there are at least five different notions of the ‘true value’ of an asset in finance theory, and argues, consistent with de Bruin et al. that in (...) many cases the calculation of such values “makes impossible information demands on our knowledge of future dividends and returns”. This paper explores some of the subjective elements involved in calculating the intrinsic value of an asset, and their implications for the Law of One Price. The Law of One Price states that investors should not pay different prices for the same investment. Consequently, the existence, and persistence, of arbitrage opportunities is often attributed to investor irrationality. However, if subjectivity is involved in the calculation of intrinsic value then two investors can, rationally, disagree about the value of a security. This implies that arbitrage opportunities may not always be instances of irrationality, or genuine mispricing, but reflect different investors perceptions of the security. In economics, value is taken to be subjective, and Postigo describes how goods have value because of the role they play in the satisfaction of our needs. By applying this to finance, this paper will argue that a security can play a number of roles in a portfolio, depending on an investor's strategy. Given these different roles, different investors will be working with different data in their assessment of intrinsic value. In order to establish that an arbitrage opportunity exists it is therefore necessary to understand what information is relevant to pricing the investment in different locations, or markets. It may, in fact, be the case that the same security can trade at different prices because different investors do not see it as the ‘same thing’ at all. This analysis can also be used to throw doubt on the emphasis that fundamental analysis receives in discussions of rationality. (shrink)

de Bruin et al. The Stanford encyclopedia of philosophy, Stanford University, Stanford, 2018) write that it is a philosophically interesting question “whether there is such a thing as an “intrinsic” value of financial assets” noting that the calculation of any intrinsic price will depend, in part, on subjective elements. McCauley suggest that there are at least five different notions of the ‘true value’ of an asset in finance theory, and argues, consistent with de Bruin et al. that in (...) many cases the calculation of such values “makes impossible information demands on our knowledge of future dividends and returns”. This paper explores some of the subjective elements involved in calculating the intrinsic value of an asset, and their implications for the Law of One Price. The Law of One Price states that investors should not pay different prices for the same investment. Consequently, the existence, and persistence, of arbitrage opportunities is often attributed to investor irrationality. However, if subjectivity is involved in the calculation of intrinsic value then two investors can, rationally, disagree about the value of a security. This implies that arbitrage opportunities may not always be instances of irrationality, or genuine mispricing, but reflect different investor’s perceptions of the security. In economics, value is taken to be subjective, and Postigo describes how goods have value because of the role they play in the satisfaction of our needs. By applying this to finance, this paper will argue that a security can play a number of roles in a portfolio, depending on an investors’ strategy. Given these different roles, different investors will be working with different data in their assessment of intrinsic value. In order to establish that an arbitrage opportunity exists it is therefore necessary to understand what information is relevant to pricing the investment in different locations, or markets. It may, in fact, be the case that the same security can trade at different prices because different investors do not see it as the ‘same thing’ at all. This analysis can also be used to throw doubt on the emphasis that fundamental analysis receives in discussions of rationality. (shrink)

Although the topic of value congruence has attracted considerable attention from researchers and practitioners, evidence for the link between person–supervisor value congruence and followers’ reactions is less robust than often assumed. This study addresses three central issues in our understanding of person–supervisor value congruence by assessing the impact of objective person–supervisor value congruence rather than subjective value congruence, by examining the differential effects of value congruence in strongly versus moderately held values, and by exploring (...) perceived empowerment as a central mediating mechanism. Results of a multi-source study comprising 116 person–supervisor dyads reveal that objective value congruence relates to followers’ job satisfaction and affective commitment and that this link can be explained by followers’ perceived empowerment. Moreover, polynomial regression and response surface analyses reveal that congruence effects vary with the importance that leaders and followers ascribe to a certain value: Congruency in strongly held values have more robust relations with followers’ outcomes than congruence in moderately held values. (shrink)

The last millennium saw rapid change, spreading globalization, and shifting populations. These have posed moral, ethical, and social dilemmas that have challenged the very foundations of our beliefs and radically changed our way of life. In this volume, some of the world's greatest thinkers in philosophy, music, religion, and the arts share their insights on the future shape of human civilization. How can old cultural legacies fit new contexts? Can there be a universalist values coexist with local differentiation? Are literature (...) and music still relevant in a world where technology is dominant? By discussing these important issues in an interdisciplinary framework, these scholars have provided a provisional blueprint for our new society. (shrink)

The Continuous Parameter Estimation Model is applied to develop individual genomic-level heritabilities for the latent hierarchical structure and developmental dynamics of Life History (LH) strategy LH strategies relate to the allocations of bioenergetic resources into different domains of fitness. LH has moderate to high population-level heritability in humans, both at the level of the high-order Super-K Factor and the lower-order factors, the K-Factor, Covitality Factor, and General Factor of Personality (GFP). Several important questions remain unexplored. We developed measures of genome-level (...) heritabilities employing an American sample of 316 monozygotic (MZ) and 274 dizygotic (DZ) twin dyads and a Swedish sample of 863 MZ and 475 DZ twin dyads. This novel heritability index measures individual genetic transmissibility, therefore opening new avenues for analyzing complex interactions among heritable traits inaccessible to standard structural equations methods. For these samples: (1) moderate to high heritability of factor loadings of Super-K on its lower-order factors is demonstrated, evidencing biological preparedness, genetic accommodation, and the gene-culture coevolution of biased epigenetic rules of development; (2) moderate to high heritability of the magnitudes of the effect of the higher-order factors upon their loadings on their constituent factors, evidencing genetic constraints upon phenotypic plasticity; and (3) that heritability of the LH factors, of factor loadings, and of the magnitudes of the correlations among factors are weaker among those with slower LH speeds, demonstrating that inter-individual variation in transmissibility is a function of individual socioecological selection pressures. (shrink)

Liquidity risk arises from the inability to unwind or hedge trading positions at the prevailing market prices. The risk of liquidity is a wide and complex topic as it depends on several factors and causes. While much has been written on the subject, there exists no clear-cut mathematical description of the phenomena and typical market risk modeling methods fail to identify the effect of illiquidity risk. In this paper, we do not propose a definitive one either, but we attempt to (...) derive novel mathematical algorithms for the dynamic modeling of trading volumes during the closeout period from the perspective of multiple-asset portfolio, as well as for financial entities with different subsidiary firms and multiple agents. The robust modeling techniques are based on the application of initial-value-problem differential equations technique for portfolio selection and risk management purposes. This paper provides some crucial parameters for the assessment of the trading volumes of multiple-asset portfolio during the closeout period, where the mathematical proofs for each theorem and corollary are provided. Based on the new developed econophysics theory, this paper presents for the first time a closed-form solution for key parameters for the estimation of trading volumes and liquidity risk, such as the unwinding constant, half-life, and mean lifetime and discusses how these novel parameters can be estimated and incorporated into the proposed techniques. The developed modeling algorithms are appealing in terms of theory and are promising for practical econophysics applications, particularly in developing dynamic and robust portfolio management algorithms in light of the 2007–2009 global financial crunch. In addition, they can be applied to artificial intelligence and machine learning for the policymaking process, reinforcement machine learning techniques for the Internet of Things data analytics, expert systems in finance, FinTech, and within big data ecosystems. (shrink)

This short article represents the first attempt to define a new core cultural value that will enable engaging the business sector in humankind’s mission to heal nature. First, I start with defining the problem of the current business culture and the extant thinking on how to solve environmental problems, which I called “the eco-deficit culture.” Then, I present a solution to this problem by formulating the “semiconducting principle” of monetary and environmental values exchange, which I believe can generate “an (...) eco-surplus business culture.” This work adds one new element, the eleventh cultural value, to the ten core values of progressive cultures postulated by Harrison (2000). (shrink)

Abstract.In Canada, food assistance is provided through a widespread network of extra-governmental, community-based, charitable programs, popularly termed “food banks”. Most of the food they distribute has been donated by food producers, processors, and retailers or collected through appeals to the public. Some industry donations are of market quality, but many donations are “surplus” food that cannot be retailed. Drawing on insights from an ethnographic study of food bank work in southern Ontario, we examined how the structure and function of (...) food banks operate to facilitate the distribution of foods not marketed through the retail system. Our findings indicate that the handling of industry donations of unsaleable products is a labor-intensive activity, made possible by the surfeit of unpaid labor in food banks, the neediness of food bank clients, and clients’ lack of rights in this system. The marshalling of volunteer labor to serve a corporate need might be construed as a “win-win” situation because the work of salvaging edible foodstuffs from among industry “surplus” helps to “feed the hungry” while also diminishing the amount of refuse deposited in landfill sites, sparing corporations disposal costs and landfill tipping fees, and helping them forge an image of good corporate citizenship. However, the reliance of food banks on industry donations means that food assistance becomes defined as that which the corporate sector cannot retail. Moreover, the intertwining of food bank work with corporate needs may function to further entrench this ad hoc secondary food system and mitigate against initiatives to develop more effective responses to problems of hunger and food insecurity in our communities. (shrink)

In this article, the main definitions and differentiation concepts of neutrosophic fuzzy environment will be reviewed. This article will introduce an analytical methodology for solving the second-order linear ordinary differential problem with neutrosophic fuzzy boundary values, this analysis will be under generalized Hukuhara differentiability to show the analytical solutions from a different point of view for the uncertain system, some of these solutions may be decreasing in uncertainty or maybe reflecting the behavior of some real-world systems better. Some applications and (...) numeral examples will be solved to show the behavior of the solution. (shrink)