Centhini manuscript is one of the ancient manuscripts from Kesultanan Surakarta Hadiningrat in the 19th century which has had a role in the cultural and ecological aspects in regulating the use of teakwood. Therefore, deep study into utilization of teak wood in Centhini Manuscript will be conducted as cultural heritage from Indonesia. Narrative methods is used in this research to present thematic results. Direct observation is conducted on various artifacts to analyze the symbolic value of teakwood. The results show that (...) in the past, religious considerations, alertness and well-being is an important factor in the selection of teak in the Javanese community. Selection of teak is carried out strictly as accountability to the environment. The purpose of this research is to build cultural values as strategy on teak wood utilization in Indonesia and to develop ecology-minded design in the future. (shrink)

In this article we reply to George Selgin’s counterarguments to our article “Fractional Reserve Free Banking: Some Quibbles”. Selgin regards holding cash as saving while we focus on the real savings necessary to maintain investment projects. Real savings are unconsumed real income. Variations in real savings are not [...].

Barnett and Block (J Bus Ethics 18(2):179–194, 2011 ) argue that one cannot distinguish between deposits and loans due to the continuum problem of maturities and because future goods do not exist—both essential characteristics that distinguish deposit from loan contracts. In a similar way but leading to opposite conclusions (Cachanosky, forthcoming) maintains that both maturity mismatching and fractional reserve banking are ethically justified as these contracts are equivalent. We argue herein that the economic and legal differences between genuine deposit and (...) loan contracts are clear. This implies different legal obligations for these contracts, a necessary step in assessing the ethics of both fractional reserve banking and maturity mismatching. While the former is economically, legally, and perhaps most importantly ethically problematic, there are no such troubles with the latter. (shrink)

Depositors have perceived banks as acting unethically during the most recent recession. One area of consternation is the ambiguity of the legal obligations entailed by the deposit contract when it is backed with only fractional reserves. In this article, we apply an existing analysis of the legitimacy and ethicality of banking practices to a wider range of financial transactions, including insurance policies, securities lending, perpetual bonds, and callable loans. Securities lending in particular creates rights violations analogous to those in fractional-reserve (...) banking. Both callable loans and perpetual bonds have clear legal obligations which are not inherently problematic, though we herein clarify what these obligations are. Finally, we apply our ethical framework to demonstrate that insurance products are distinct from banking deposit contracts, and that perceived parallels between the two products underestimate these differences. (shrink)

Barnett and Block (Journal of Business Ethics, 2009 ) attack the heart of modern banking by claiming that the practice of borrowing short and lending long is illicit. While their claim of illegitimacy concerning fractional reserve banking can be defended, their justification lacks substance. Their claim is herein strengthened by a legal analysis of deposits and loans based on Huerta de Soto (Money, Bank Credit and Economic Cycles, 2006 ). A combined legal and economic analysis shows that while lending deposits (...) can be regarded as illicit, the maturity mismatching of loans is legitimate contrary to Barnett and Block’s claim. No over-issuance of property rights is involved with this practice once the distinction between present and future goods is taken into account. However, while the practice is not illicit per se , it is greatly assisted and developed through the presence of a fractional reserve banking system, and can sometimes breed detrimental effects. (shrink)

How ethical have recent banking practices been? We answer this question via an economic analysis. We assess the two dominant practices of the modern banking system – fractional reserves and maturity transformation – by gauging the respective rights of the relevant parties. By distinguishing the legal and economic differences between deposit and loan contracts, we determine that the practice of maturity transformation (in its various guises) is not only ethical but also serves a positive social function. The foundation of the (...) modern banking system – the holding of fractional reserves against deposits – is, however, problematic from economic, legal and ethical perspectives. Starting from a microanalysis of money's function, a reassessment of the current laws concerning the practice is encouraged, with the aim not only to rectify economic irregularities but also to realign depositors' rights with the obligations of the banking sector. (shrink)

How ethical have recent banking practices been? We answer this question via an economic analysis. We assess the two dominant practices of the modern banking system – fractional reserves and maturity transformation – by gauging the respective rights of the relevant parties. By distinguishing the legal and economic differences between deposit and loan contracts, we determine that the practice of maturity transformation (in its various guises) is not only ethical but also serves a positive social function. The foundation of the (...) modern banking system – the holding of fractional reserves against deposits – is, however, problematic from economic, legal and ethical perspectives. Starting from a microanalysis of money's function, a reassessment of the current laws concerning the practice is encouraged, with the aim not only to rectify economic irregularities but also to realign depositors' rights with the obligations of the banking sector. (shrink)

The financial crisis has led to new interest in the ethics of financial markets. In this article, we further the debate on the nature of banking contracts by showing that the fundamental subjective purposes of loan and deposit contracts are irreconcilable. Any resultant mixture of the two contracts is a legal aberration. We consider a mutual fund as an important and legitimate alternative to the common demand deposit to provide high liquidity and some yield without offering full availability of a (...) nominal sum. Besides being a close substitute for how many deposit accounts function today, the mutual fund has the additional benefit of satisfying all legal and ethical requirements. Loan and investment contracts allow for the “bank” to make use of their clients’ funds while the intents of money owners are clearly classified without running into legal or ethical problems. (shrink)

Science is critical and thrives on discourse. However, new challenges for science and academic freedom have arisen from an often-discussed cancel culture and an increasing demand for safe spaces, which are justified by their assumed protection against microaggressions. These phenomena can impede scientific progress and innovation by prohibiting certain thought processes and heterodox ideas that eventually result in new ideas, publications, statements, etc. In this paper, we use the approach of property rights ethics to shed light on these phenomena, especially (...) in academia. First, we argue that microaggressions must be generally tolerated according to property rights ethics as the starting point for discussion. Then, we analyze cancel culture and safe spaces in academia. To this end, we distinguish between two basic cases in the educational system. We show that cancel culture and safe spaces seem justifiable in a private education system but have no place in public, tax-funded universities from the perspective of property ethics. Our essay contributes, on the one hand, to the economic analysis of science and, on the other hand, to the ethical study of new phenomena in modern societies. (shrink)

What role do demand deposits serve in the financial system? The answer to this simple question has great implications in keeping the legal terms of the contract consistent with the demands of the financial system. Demand deposits are a perfect monetary substitute. Since money is only held to hedge against perceived uncertainty in both the timing and magnitude of future expenditures, demand deposits are demanded for the same reason. From this we derive three main conclusions. First, a financial contract similar (...) to a demand deposit cannot substitute for money. Second, full agreement to a financial contract does not create a perfect substitute for money unless it provides money’s two key characteristics: on demand and par value redemption. Finally, the demand for fractional-reserve demand deposits is fostered by an exogenous source and that demand for a good or service is not a sufficient condition to justify its legality or ethicality. (shrink)

In the pages of this journal, a fruitful debate has evolved on the ethical legitimacy of fractional-reserve banking. In this article, we respond to the new arguments raised by Evans as we clarify our position on the unethical and illegitimate nature of fractional-reserve banking. Fractional-reserve banking is not a recent financial innovation but represents a long-standing legal aberration. The co-mingling of two mutually exclusive financial contracts, deposit and loan, confounds the contracting parties’ purposes, intents, rights, and obligations. As a result, (...) it creates unsolvable legal difficulties and ethical dilemmas. While these problems are most evident in the case of a bank run, they also arise when trying to answer the simple question of “who owns a deposit?”. (shrink)

It is questionable whether counterfeiting in many areas of life contributes to unethical behavior to a wider extent. If the notion is supported by data, then the moral damage in a society could be prevented by reducing the counterfeit self and behavior to a bare minimum. This study aimed at empirically testing the measurement model of counterfeit self of Wood et al. (2008) among Indonesians as well as theoretically reviewing counterfeit self roles in unethical behavior. The participants of this study (...) were 1,655 high school students (764 males, 891 females; Mage = 15.76 years old; SDage = 1.08 years) recruited through a purposive sampling technique in North Sumatera and West Kalimantan, Indonesia. The data analysis technique used was Confirmatory Factor Analysis. The results showed that the counterfeit self model--comprised of counterfeit self dimensions, namely Self-alienation (ALIEN), Inauthentic Living (LIVE), and Accepting External Influence (EXT)--was supported by the empirical data. However, the dimension of EXT could not be represented by its indicators. The study contributed to the psychological body of knowledge that the EXT dimension might need to be excluded from the measurement of counterfeit self on teenagers, especially in Indonesia and other Eastern countries. (shrink)

Commentators believe that the COVID-19 pandemic reveals the inconveniences of capitalism and that the end of “neoliberalism” could be near. In this article we show that a capitalist ethics is capable to deal with the challenges of pandemics and comes with important advantages such as the prevention of overreactions. We apply both utilitarian and rights-based ethics to the case of epidemics in general and COVID-19 in particular. First a libertarian natural law ethics is used to assess the government interventions in (...) the Corona pandemic. We maintain that these interventions cannot be justified from a libertarian point of view despite of the possible objections that are discussed such as the “potential threat argument”. Moreover, the utilitarian argument in favor of government lockdowns is evaluated. The negative effects of lockdown on mental health, addictions, domestic violence, etc. have to be taken into account. The utilitarian argument in favor of lockdown is far from convincing, as economic calculation is not possible. (shrink)

Barnett and Block claim that Bagus and Howden support indirectly the concept of market failure. In this paper, we show that maturity mismatching in an unhampered market may imply entrepreneurial error but cannot be considered a market failure. We demonstrate why fractional-reserve banking leads to business cycles even if there is no central bank and why maturity mismatching does not per se lead to clusters of errors in a free market. Finally, in contrast to the examples provided by Barnett (...) and Block, we assure that maturity mismatching does not imply the creation of two incompatible contracts due to the fungible nature of money. (shrink)

The growing importance of the cryptocurrency phenomenon has raised concerns about the ethical implications of a hypothetical widespread use of these new forms of digital money. In this paper, we undertake an ethical assessment of cryptocurrencies drawing upon two specific ethical theories: private property ethics and utilitarianism. Particularly, we focus on three distinctive aspects. First, we examine the advantages and disadvantages of cryptocurrencies vis‐à‐vis central bank fiat money. Second, we analyze cryptocurrencies as facilitators of tax evasion and the ethical implications (...) arising therefrom. Finally, we explore the use of cryptocurrencies for nefarious consumption. We conclude that, were cryptocurrencies to become widespread media of exchange, governments capacity to undertake monetary, fiscal, and drug policy would be undermined. We argue that this would be an ethically desirable outcome from both a private‐property‐rights and a utilitarian perspective since it would force governments to reduce their size and scope in these three areas. (shrink)

The growing importance of the cryptocurrency phenomenon has raised concerns about the ethical implications of a hypothetical widespread use of these new forms of digital money. In this paper, we undertake an ethical assessment of cryptocurrencies drawing upon two specific ethical theories: private property ethics and utilitarianism. Particularly, we focus on three distinctive aspects. First, we examine the advantages and disadvantages of cryptocurrencies vis‐à‐vis central bank fiat money. Second, we analyze cryptocurrencies as facilitators of tax evasion and the ethical implications (...) arising therefrom. Finally, we explore the use of cryptocurrencies for nefarious consumption. We conclude that, were cryptocurrencies to become widespread media of exchange, governments capacity to undertake monetary, fiscal, and drug policy would be undermined. We argue that this would be an ethically desirable outcome from both a private‐property‐rights and a utilitarian perspective since it would force governments to reduce their size and scope in these three areas. (shrink)

The growing importance of the cryptocurrency phenomenon has raised concerns about the ethical implications of a hypothetical widespread use of these new forms of digital money. In this paper, we undertake an ethical assessment of cryptocurrencies drawing upon two specific ethical theories: private property ethics and utilitarianism. Particularly, we focus on three distinctive aspects. First, we examine the advantages and disadvantages of cryptocurrencies vis‐à‐vis central bank fiat money. Second, we analyze cryptocurrencies as facilitators of tax evasion and the ethical implications (...) arising therefrom. Finally, we explore the use of cryptocurrencies for nefarious consumption. We conclude that, were cryptocurrencies to become widespread media of exchange, governments capacity to undertake monetary, fiscal, and drug policy would be undermined. We argue that this would be an ethically desirable outcome from both a private‐property‐rights and a utilitarian perspective since it would force governments to reduce their size and scope in these three areas. (shrink)

In their struggle against the capitalist colonization of desire, Christianity and Buddhism offer similar strategies of fundamental formation or transformation of human desire. This article examines three specific features in which Christianity and Buddhism share a broad and deep resemblance in their analysis of on the dynamics of human desire and its transformation. First, both traditions identify distorted human desire as a source of bondage (or suffering), which affects the mind (intellectual), the heart (affective) and the body. Second, in terms (...) of the strategy of liberation from this bondage, both agree that human desiring constitutes the most effective internal force available in the human make up itself. Thus, the liberation process is not aimed at wiping out human desire but rather at channeling the very power of human desiring through a process of education whose dynamics are understood as an ascent or a journey that leads to higher (or deeper) Reality. Third, with regard to the direction of liberation, both traditions assert that this process should be directed not only toward the self but also towards others. Here the benefit for others, the virtue of caritas in Christianity and bodhicitta in Buddhism, constitutes a fundamental part of the direction of this process of formation. Keywords: Christianity, Buddhism, desire, capitalism, bondage,transformation, caritas, bodhicitta. Abstrak: Dalam perlawanan mereka terhadap kolonisasi hasrat oleh kapitalisme, tradisi Budhis dan Kristiani menawarkan cara-cara yang mirip untuk mendidik atau mentransformasi hasrat manusia. Artikel ini membahas tiga unsur penting yang sama dari analisis Budhisme dan Kristianitas mengenai dinamika hasrat manusia dan transformasinya. Pertama, kedua tradisi ini mengidentifikasi hasrat manusia yang rusak atau salah arah sebagai sebab dasariah dari penderitaan manusia. Kerusakan hasrat ini juga mempengaruhi dimensi intelektual, afektif dan juga tubuh manusia. Kedua, perihal cara pembebasan dari penderitaan ini, kedua tradisi ini juga sepakat bahwa hasrat manusia merupakan dayainternal paling efektif dalam diri manusia sendiri. Karena itu, proses pembebasan ini tidak dimaksudkan untuk membuang hasrat dari kemanusiaan, melainkan untuk menyalurkan daya hasrat ini melalui proses transformasi yang berdinamika “mendaki,” sebuah perjalanan menuju Realitas yang lebih tinggi atau dalam. Ketiga, mengenai arah pembebasan ini, kedua tradisi menekankan bahwa proses ini ditujukan tidak hanya untuk diri sendiri melainkan juga sesama. Dalam hal ini, kepentingan sesama seperti diungkapkan oleh keutamaan caritas dalam Kristianitas dan bodhicitta dalam Budhisme merupakan bagian dasariah dari arah transformasi hasrat manusia itu sendiri. Kata-kata kunci: Kristianitas, Budhisme, hasrat, kapitalisme, penderitaan, transformasi, caritas, bodhicitta. (shrink)

The survival and significance of the Latin American liberation theology movement relies, to some extent, on the power of the narratives of martyrdom. Precisely by relying on these narratives, through the dynamics of the theological category of memory that leads to solidarity, liberation theology situates itself in the tension between modernity and postmodernity. The categories of narrative, memory and solidarity, which are at play in the whole dynamic of martyrdom, constitute a postmodern way of doing a modern liberation theology. Liberation (...) theology will only be able to retain its “liberative” and “theological” element insofar as it continues to be “modern” and “postmodern” at the same time. Against the postmodern disbelief in the possibility of human emancipation, liberation theology continues to labor precisely under principium liberationis grounded in the promise of liberation contained in God’s revelation in the Scriptures. However, against the “modern” conception of emancipation based on reason and governed by the idea of progress, liberation theology envisions liberation as an integral process which takes place in a concrete, particular historical reality and under the eschatological promise of God. Keywords: liberation theology, martyrdom, modern, postmodern, narrative, memory, solidarity. Abstrak: Relevansi dan pertumbuhan teologi pembebasan, sampai tingkat tertentu, juga bergantung pada kekuatan kisah kemartiran. Dengan mendasarkan diri pada kisah (narrative) yang diolah lewat kategori pengingatan (memory) yang mengarah pada solidaritas, teologi pembebasan menempatkan diri dalam tegangan antara modernitas dan posmodernitas. Kategori kisah, pengingatan, dan solidaritas, yang berada dalam jantung narasi kemartiran, mengetengahkan sebuah cara posmodern untuk melakukan teologi pembebasan yang modern. Teologi pembebasan hanya akan berhasil mempertahankan unsur “teologi” dan “pembebasan” sejauh bersifat modern dan posmodern pada saat yang sama. Melawan ketidakpercayaan posmodernitas terhadap kemungkinan proyek pembebasan, teologi pembebasan mempertahankan prinsip pembebasan atas dasar isi pewahyuan Allah dalam Kitab Suci. Akan tetapi, melawan pemahaman modern tentang pembebasan berdasarkan akalbudi dan kemajuan, teologi pembebasan memahami pembebasan sebagai sebuah proses integral yang terjadi dalam waktu dan tempat yang nyata, dalam realitas sejarah yang partikular dan dalam kerangka janji eskatologis Allah. Kata-kata kunci: teologi pembebasan, kemartiran, modern, posmodern, narasi, pengingatan, solidaritas. (shrink)

Both glycemic control and handgrip strength affect microvascular function. Multiscale entropy of photoplethysmographic pulse amplitudes may differ by diabetes status and hand activity. Of a middle-to-old aged and right-handed cohort without clinical cardiovascular disease, we controlled age, sex, and weight to select the unaffected,the well-controlled diabetes, and the poorly controlled diabetes groups. MSEs were calculated from consecutive 1,500 PPG pulse amplitudes of bilateral index fingertips. Thesmall-, medium-,and large-scale MSEs were defined as the average of scale 1, scales 2–4, and scales (...) 5–10, respectively. Intra- and intergroups were compared by one- and two-samplet-tests, respectively. The dominant handMSE5–10was lower in the poorly controlled diabetes group than the well-controlled diabetes and the unaffected groups, whereas the nondominant handMSE5–10was lower in the well- and poorly controlled diabetes groups than the unaffected group. TheMSE1of dominant hand was higher than that of nondominant hand in the well-controlled diabetes. In conclusion, diabetes status and hand dominance may affect the MSE of PPG pulse amplitudes. (shrink)

Corruption prevention can be more effective if it does not rely merely on legal enforcement. This theoretical review aimed to propose a hypothetical psychological model capable of explaining the behavior of corruption. Moral disengagement is a variable that is considered ontologically closest in “distance” to the variable of corruption behavior. Counterfeit self, implicit self-theory, ethical mindset and moral emotion are taken into account as the pivotal factors of the corruption behavior and its mechanism of moral disengagement. Counterfeit self along with (...) some moderating variables are regarded to “set” one’s future corrupt behavior based on his/her past/prior ethical or unethical behavior and moral emotions. This review discovered a conjectural-theoretical model of the corruption psychology. It can be used to design a social intervention and training for individuals to manage the mindset and emotion that can buffer counterfeit self effect. In addition, the users of these research findings are recommended to be aware of the surroundings that consist of groups of people with particular ethical mindset, moral emotion proneness and self-theory. (shrink)

In Barnett and Block (J Bus Ethics 88(4): 711-716, 2009a), the present authors claim that borrowing short and lending long is fraudulent, and thus ought to be prohibited on legal grounds. Bagus and Howden (J Bus Ethics 90(3): 399, 2009) take issue with our ethical analysis. The present paper is our response to these authors; it is an attempt to defend Barnett and Block (J Bus Ethics 88(4): 711-716, 2009a) against the very interesting and important, although we believe, erroneous, (...) criticisms of Bagus and Howden (J Bus Ethics 90(3) : 399, 2009). (shrink)

As we move ahead into the twenty-first century we have to re-focus vigorously on the unfolding of the kin-dom of God, which requires a praxis of care and tenderness for all: a praxis of justice. Without justice, without a praxis of care and tenderness towards all persons and the biosphere in which we live and move and have our being, we have nothing to live for, we have nothing to die for. This points to the very heart of justice—solidarity—a deep (...) sense of community that does not do away with diversity but, on the contrary, affirms and is enriched by it. And, if women-centered theologies do not contribute to struggles for liberation, why should they survive and flourish in the twenty-first century? (shrink)

In Barnett and Block (J Bus Ethics 88(4):711–716, 2009a), the present authors claim that borrowing short and lending long is fraudulent, and thus ought to be prohibited on legal grounds. Bagus and Howden (J Bus Ethics 90(3):399, 2009) take issue with our ethical analysis. The present paper is our response to these authors; it is an attempt to defend Barnett and Block (J Bus Ethics 88(4):711–716, 2009a) against the very interesting and important, although we believe, erroneous, criticisms of (...) class='Hi'>Bagus and Howden (J Bus Ethics 90(3):399, 2009). (shrink)

In Barnett and Block :711–716, 2009a), the present authors claim that borrowing short and lending long is fraudulent, and thus ought to be prohibited on legal grounds. Bagus and Howden :399, 2009) take issue with our ethical analysis. The present paper is our response to these authors; it is an attempt to defend Barnett and Block :711–716, 2009a) against the very interesting and important, although we believe, erroneous, criticisms of Bagus and Howden :399, 2009).

This research essay by our collective ENDYEP, on our journey in Teacher Training in the key of Popular Education, proposes a permanent dialogue with the work of Maestro Paulo Freire and his legacy. We start from an ethical, pedagogical political option that needs others as a condition of existence and re-existence. In thinking and re-thinking ourselves, we propose a series of stops where we propose who we are, the ties, legacies and continuities that cross us -as well as- the ruptures (...) we have collectively conquered and the expected achievements. Time and again, we reaffirm that teacher training is the expression and choice of what has been the structuring axis of our walk as educators, both in the training of educators within the scope of social movements and in the formal structure of education. The Teacher Training Institutes of the City of Bs. As., Argentina. Teacher Training in Key to Popular Education is thus configured as the structuring axis of our educational praxis. The challenges of thinking and building a Teacher Training that was nourished by the emancipatory conceptions of Popular Education that has the teacher Freire as its exponent, were forging a new centrality in our actions. That is why we want to be part of this Freirian legacy as a transforming praxis. (shrink)

After its remarkable affirmation overseas, creationism has landed in Europe and is also present in Italy. As in the USA, also in Italy the main terrain of the clash with Darwinism is the public school. The essay investigates the reasons why in Italy too has been possible to require to teach creationism alongside evolutionism. If in the US this is explained by the strong influence of the evangelical communities, in Italy creationism has found fertile ground in the traditional backwardness of (...) the country in terms of scientific culture. To this we must add a relativistic epistemological interpretation that allows to equalize scientific doctrines to ideologies. (shrink)

This article contributes to a recent debate between Barnett and Block : 711–716, 2009), Bagus and Howden : 399–406, 2009), Barnett and Block, Cachanosky and Bagus and Howden regarding the conceptual distinction between demand deposits and time deposits. It is argued that from an economic perspective there is nothing inherently fraudulent or illegitimate about deposit accounts that are available ‘on demand’, but that this relies on certain contractual provisions. Particular attention is drawn to option clauses and withdrawal clauses, (...) which “solve” the problems raised by Barnett and Block, and Bagus and Howden. Previous authors have also neglected the asset side of banks balance sheets, and this is shown to further justify the legitimacy of fractional reserve banking. (shrink)

In Time Deposits, Dimension, and Fraud (2009), William Barnett and Walter Block argue that by borrowing short and lending long there is an over issuance of property rights. Their article, however, does not fully extend the consequences of their contribution. Once this is done, it becomes clearer that their argument suits a great impediment to banking, becoming a possible reason to support rather than to oppose fractional reserve banking. Bagus and Howden (J Bus Ethics 90(3):399–406, 2009) comment on Barnett (...) and Block (J Bus Ethics 88(4):711–716, 2009), the authors claim that while maintaining the illegitimacy of fractional reserve deposits, borrowing short and lending long it is actually not illegitimate. An extension on Bagus and Howden (2009) will show that their line of argumentation can be applied as a defense of fractional reserve banking as well. (shrink)

If fractional-reserve demand deposits are common, and illegitimate, an obvious flaw in the banking system is exposed. However, this article maintains that the only reason why demand deposits may be considered illegitimate is because of a way of defining them that renders them almost irrelevant. This article provides a response to Bagus et al., and identifies examples of how they misrepresent Evans. It also provides further considerations on the tradeoffs relating to the availability of a deposit; methodological subjectivism; and (...) the potential for hybrid contracts. Deposit and loan contracts may be hard to mix, but the actual results of doing so should not be ignored. (shrink)

This article argues that obligatory, simultaneous, and simple Treaty ratification by referenda is the next step in the consolidation of the political core of European citizenship. In the first part, general remarks about the special nature of EU citizenship highlight the relevance of referenda on EU Treaties for EU citizenship. In the second part, the normative and empirical case in favour of direct democracy is put forward. It is followed by the assessment of direct democracy in European integration as we (...) have known it so far. The practice is irreversible and gaining in momentum. But it is in need of substantial reform due to procedural dysfunctions and discriminatory consequences for the citizens. Section V relates this result to a legal analysis of EU citizenship. The suppression of the discriminatory consequences of the Treaty ratification procedure is necessary from a legal point of view, but it cannot be expected from the 'judicial incrementalism' that has characterised the development of EU citizenship regarding free movement and residence. In section VI, the conclusions of the previous sections are drawn into the final proposal of obligatory, simultaneous and simple Treaty reform by referenda in all Member States. At the end, five counter-arguments to the proposal are discussed. (shrink)