Antoine Arnauld and Pierre Nicole were philosophers and theologians associated with Port-Royal Abbey, a centre of the Catholic Jansenist movement in seventeenth-century France. Their enormously influential Logic or the Art of Thinking, which went through five editions in their lifetimes, treats topics in logic, language, theory of knowledge and metaphysics, and also articulates the response of 'heretical' Jansenist Catholicism to orthodox Catholic and Protestant views on grace, free will and the sacraments. In attempting to combine the categorical theory of (...) the proposition with a Cartesian account of knowledge, their Logic represents the classical view of judgment which inspired the modern transformation in logic and semantic theory by Frege, Russell, Wittgenstein and recent philosophers. This edition presents a new translation of the text, together with a historical introduction and suggestions for further reading. (shrink)

Understanding the emergence of a tangible 4-dimensional space-time from a quantum theory of gravity promises to be a tremendously difficult task. This article makes the case that this task may not have to be carried. Space-time as we know it may be fundamental to begin with. I recall the common arguments against this possibility and review a class of recently discovered models bypassing the most serious objection. The generic solution of the measurement problem that is tied to semiclassical gravity as (...) well as the difficulty of the alternative make it a reasonable default option in the absence of decisive experimental evidence. (shrink)

The paper presents a research programme for the neuroscience of consciousness called 'neurophenomenology' and illustrates it with a recent pilot study . At a theoretical level, neurophenomenology pursues an embodied and large-scale dynamical approach to the neurophysiology of consciousness . At a methodological level, the neurophenomenological strategy is to make rigorous and extensive use of first-person data about subjective experience as a heuristic to describe and quantify the large-scale neurodynamics of consciousness . The paper focuses on neurophenomenology in relation to (...) three challenging methodological issues about incorporating first-person data into cognitive neuroscience: first-person reports can be biased or inaccurate; the process of generating first-person reports about an experience can modify that experience; and there is an 'explanatory gap' in our understanding of how to relate first-person, phenomenological data to third-person, biobehavioural data. (shrink)

Laboratoire de Neurosciences Cognitives et Imagerie Ce´re´brale (LENA), Hoˆpital de La Salpeˆtrie`re, Centre National de la Recherche Scientifique (CNRS).

_sciousness called ‘neurophenomenology’ (Varela 1996) and illustrates it with a_ _recent pilot study (Lutz et al., 2002). At a theoretical level, neurophenomenology_ _pursues an embodied and large-scale dynamical approach to the_ _neurophysiology of consciousness (Varela 1995; Thompson and Varela 2001;_ _Varela and Thompson 2003). At a methodological level, the neurophenomeno-_ _logical strategy is to make rigorous and extensive use of first-person data about_ _subjective experience as a heuristic to describe and quantify the large-scale_ _neurodynamics of consciousness (Lutz 2002). The paper (...) foocuses on_ _neurophenomenology in relation to three challenging methodological issues_ _about incorporating first-person data into cognitive neuroscience: (i) first-person_ _reports can be biased or inaccurate; (ii) the process of generating first-person_ _reports about an experience can modify that experience; and (iii) there is an ‘ex-_ _planatory gap’ in our understanding of how to relate first-person, phenomeno-_ _logical data to third-person, biobehavioural data._. (shrink)

This scarce antiquarian book is a facsimile reprint of the original. Due to its age, it may contain imperfections such as marks, notations, marginalia and flawed pages. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions that are true to the original work.

in Cambridge Handbook of Consciousness edited by Zelazo P., Moscovitch M. and Thompson E. (2007).

PLoS ONE 3(3): e1897. doi:10.1371/journal.pone.

Publie en 1683 comme un preambule a la refutation du Traite de la nature et de la grace de Nicolas Malebranche, l'ouvrage Vraies et fausses idees d'Antoine Arnauld (1612-1694) a connu un etonnant destin. Cette defense tres argumentee de la conception cartesienne des idees est peu a peu devenue un texte incontournable dans les debats de philosophie de la connaissance, cite et commente aussi bien par les auteurs classiques que dans les debats anglosaxons contemporains. Ce volume en propose la (...) premiere edition critique annotee en francais. Des annexes apportent en outre quelques outils pour se reperer dans l'important corpus de textes de philosophie de la connaissance rediges par Arnauld. (shrink)

Recent brain imaging studies using functional magnetic resonance imaging (fMRI) have implicated insula and anterior cingulate cortices in the empathic response to another’s pain. However, virtually nothing is known about the impact of the voluntary generation of compassion on this network. To investigate these questions we assessed brain activity using fMRI while novice and expert meditation practitioners generated a loving-kindness-compassion meditation state. To probe affective reactivity, we presented emotional and neutral sounds during the meditation and comparison periods. Our main hypothesis (...) was that the concern for others cultivated during this form of meditation enhances affective processing, in particular in response to sounds of distress, and that this response to emotional sounds is modulated by the degree of meditation training. The presentation of the emotional sounds was associated with increased pupil diameter and activation of limbic regions (insula and cingulate cortices) during meditation (versus rest). During meditation, activation in insula was greater during presentation of negative sounds than positive or neutral sounds in expert than it was in novice meditators. The strength of activation in insula was also associated with self-reported intensity of the meditation for both groups. These results support the role of the limbic circuitry in emotion sharing. The comparison between meditation vs. rest states between experts and novices also showed increased activation in amygdala, right temporo-parietal junction (TPJ), and right posterior superior temporal sulcus (pSTS) in response to all sounds, suggesting, greater detection of the emotional sounds, and enhanced mentation in response to emotional human vocalizations for experts than novices during meditation. Together these data indicate that the mental expertise to cultivate positive emotion alters the activation of circuitries previously linked to empathy and theory of mind in response to emotional stimuli.. (shrink)

Nonlocal “realistic” Leggett models can be considered refuted by the before-before experiment. “Single preferred frame” models are not refuted by this experiment but bear severe oddities.

Nietzsche once proclaimed himself the 'Buddha of Europe', and throughout his life Buddhism held enormous interest for him. While he followed Buddhist thinking in demolishing what he regarded as the two-headed delusion of Being and Self, he saw himself as advocating a response to the ensuing nihilist crisis that was diametrically opposed to that of his Indian counterpart. In this book Antoine Panaïoti explores the deep and complex relations between Nietzsche's views and Buddhist philosophy. He discusses the psychological models (...) and theories which underlie their supposedly opposing ethics of 'great health' and explodes the apparent dichotomy between Nietzsche's Dionysian life-affirmation and Buddhist life-negation, arguing for a novel, hybrid response to the challenge of formulating a tenable post-nihilist ethics. His book will interest students and scholars of Nietzsche's philosophy, Buddhist thought and the metaphysical, existential and ethical issues that emerge with the demise of theism. (shrink)

The capacity to stabilize the content of attention over time varies among individuals, and its impairment is a hallmark of several mental illnesses. Impairments in sustained attention in patients with attention disorders have been associated with increased trial-to-trial variability in reaction time and event-related potential deficits during attention tasks. At present, it is unclear whether the ability to sustain attention and its underlying brain circuitry are transformable through training. Here, we show, with dichotic listening task performance and electroencephalography, that training (...) attention, as cultivated by meditation, can improve the ability to sustain atten- tion. Three months of intensive meditation training reduced variability in attentional processing of target tones, as indicated by both enhanced theta-band phase consistency of oscillatory neural responses over anterior brain areas and reduced reaction time variability. Furthermore, those individuals who showed the greatest increase in neural response consistency showed the largest decrease in behav- ioral response variability. Notably, we also observed reduced variability in neural processing, in particular in low-frequency bands, regardless of whether the deviant tone was attended or unattended. Focused attention meditation may thus affect both distracter and target processing, perhaps by enhancing entrainment of neuronal oscillations to sensory input rhythms, a mechanism important for controlling the content of attention. These novel findings highlight the mechanisms underlying focused attention meditation and support the notion that mental training can significantly affect attention and brain function. (shrink)

This paper analyzes an explicit instantiation of the program of “neurophenomenology” in a neuroscientific protocol. Neurophenomenology takes seriously the importance of linking the scientific study of consciousness to the careful examination of experience with a specific first-person methodology. My first claim is that such strategy is a fruitful heuristic because it produces new data and illuminates their relation to subjective experience. My second claim is that the approach could open the door to a natural account of the structure of human (...) experience as it is mobilized in itself in such methodology. In this view, generative passages define the type of circulation which explicitly roots the active and disciplined insight the subject has about his/her experience in a biological emergent process. (shrink)

Dans un monde dominé par les conflits, il arrive qu’il faille se défendre. L’invention des armes a évolué en parallèle avec le savoir technique, puis scientifique, et il est même arrivé que la recherche d’applications militaires ait joué un rôle moteur dans la découverte scientifique. Lorsque les armes ne servent pas à attaquer d’autres nations, leur fabrication et leur commerce se justifient morale- ment. Il faut cependant qu’elles ne puissent échapper à ceux qui les construisent et doivent en contrôler la (...) diffusion. Facilement mise en œuvre, la guerre utilisant des organismes vivants ou ce qu’ils pro- duisent comme armes est très ancienne. Or l’originalité des êtres vivants est qu’ils se multiplient, qu’un seul individu suffit à recouvrir la Terre de ses descendants. La biologie ne se prête jamais à un usage militaire moralement défendable parce que le confinement au champ de bataille est impossible. De ce fait, les applications de la biologie ont été vite écartées du domaine de la Défense permise par les traités internationaux. La Convention de 1972 sur l’Interdiction des Armes Biologiques et à Toxines (CIABT), entrée en vigueur en 1975, est aujourd’hui signée par 183 pays (ratifiée par 175) sur un total de 193, sans compter Taïwan qui l’a ratifiée mais n’est pas reconnu par l’ONU. Elle interdit la mise au point, la fabrication, l’acquisition, le transfert, la conservation, le stockage et l’utilisation des armes bio- logiques et à toxines. Elle constitue un élément essentiel de la lutte contre la prolifération des armes de destruction massive. (shrink)

The lasting effects of the debate over canon-formation during the 1980s affected the whole field of Humanities, which became increasingly engaged in interrogating the origin and function of the Western canon. In philosophy, a great deal of criticism was, as a result, directed at the traditional narrative of seventeenth-and eighteenth-century philosophies—a critique informed by postcolonialism as well as feminist historiography. D. F. Norton, L. Loeb and many others1 attempted to demonstrate the weaknesses of the tripartite division between rationalism, empiricism and (...) critical philosophy.2 As time went on, symptoms of dissatisfaction with what has... (shrink)

To fulfill their crucial duty of relieving suffering in their patients, physicians may have to administer palliative sedation when they implement treatment-limitation decisions such as the withdrawal of life-supporting interventions in patients with poor prognosis chronic severe brain injury. The issue of palliative sedation deserves particular attention in adults with serious brain injuries and in neonates with severe and irreversible brain lesions, who are unable to express pain or to state their wishes. In France, treatment limitation decisions for these patients (...) are left to the physicians. Treatment-limitation decisions are made collegially, based on the presence of irreversible brain lesions responsible for chronic severe disorders of consciousness. Before these decisions are implemented, they are communicated to the relatives. Because the presence and severity of pain cannot be assessed in these patients, palliative analgesia and/or sedation should be administered. However, palliative sedation is a complex strategy that requires safeguards to prevent a drift toward hastening death or performing covert euthanasia. In addition to the law on patients' rights at the end of life passed in France on April 22, 2005, a recent revision of Article 37 of the French code of medical ethics both acknowledges that treatment-limitation decisions and palliative sedation may be required in patients with severe brain injuries and provides legal and ethical safeguards against a shift towards euthanasia. This legislation may hold value as a model for other countries where euthanasia is illegal and for countries such as Belgium and Netherlands where euthanasia is legal but not allowed in patients incapable of asking for euthanasia but in whom a treatment limitation decision has been made. (shrink)

We argue that ecology in general and biodiversity and ecosystem function research in particular need an understanding of functions which is both ahistorical and evolutionarily grounded. A natural candidate in this context is Bigelow and Pargetter’s evolutionary forward-looking account which, like the causal role account, assigns functions to parts of integrated systems regardless of their past history, but supplements this with an evolutionary dimension that relates functions to their bearers’ ability to thrive and perpetuate themselves. While Bigelow and Pargetter’s account (...) focused on functional organization at the level of organisms, we argue that such an account can be extended to functional organization at the community and ecosystem levels in a way that broadens the scope of the reconciliation between ecosystem ecology and evolutionary biology envisioned by many BEF researchers. By linking an evolutionary forward-looking account of functions to the persistence-based understanding of evolution defended by Bouchard and others, and to the theoretical research on complex adaptive systems, we argue that ecosystems, by forming more or less resilient assemblages, can evolve even while they do not reproduce and form lineages. We thus propose a Persistence Enhancing Propensity account of role functions in ecology to account for this overlap of evolutionary and ecological processes. (shrink)

The Rhetoric to Alexander (about 340 B.C.) contains a list of proofs (pisteis) and other types of argumentation which may be seen as the oldest surviving typology of argumentation schemes (avant la lettre). In the present article this typology is derived and compared with modern proposals. The conclusion is that the oldest typology is surprisingly similar to the most recent classifications.

Social Work with The Black African Diaspora locates a complex and layered analysis of social work practice within the Western, precisely, the Republic of Ireland context. This work tells us that so...

This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work. This work is in the public domain (...) in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant. (shrink)

Danchin argues that if scientists can reach a level of understanding of genomes, they will be able to resolve the major biological puzzle of the 21st century: the enigma of the living machine that creates the living machine.

This paper criticizes Jerome Wakefield’s harmful dysfunction analysis of disorder by arguing that the conceptual linkage it establishes between the medical concepts of health and disorder and the prudential notions of well-being and harm makes the account inapplicable to nonsentient organisms, such as plants, fungi, and many invertebrate animals. Drawing on a previous formulation of this criticism by Christopher Boorse, and noting that Wakefield could avoid it if he adopted a partly biofunction-based account of interests like that often advocated in (...) the field of environmental ethics, I argue that integrating such an account of interests into the HDA would generate serious concerns. Specifically, it would make dysfunction sufficient for disorder and so reestablish between dysfunction and disorder precisely the kind of sufficiency relation that harm-requiring accounts of disorder strive to avoid; blur the line between the HDA’s dysfunction and harm components and, in so doing, deprive the HDA of its alleged main advantage over monistic dysfunction-based accounts of disorders like Boorse’s; and tie the HDA to an understanding of harm that is in itself problematic. I argue that these three concerns, and the dilemmas they generate, rob the HDA of much of its prima facie appeal, ultimately indicating that a satisfactory account of disorder should most likely eschew all references to prudential notions of well-being and harm. (shrink)

This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work. This work is in the public domain (...) in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant. (shrink)

Science is founded on a method based on critical thinking. A prerequisite for this is not only a sufficient command of language but also the comprehension of the basic concepts underlying our understanding of reality. This constraint implies an awareness of the fact that the truth of the World is not directly accessible to us, but can only be glimpsed through the construction of mod- els designed to anticipate its behaviour. Because the relationship between models and reality rests on the (...) interpretation of founding postulates and in- stantiations of their predictions (and is therefore deeply rooted in language and culture), there can be no demarcation between science and non-science. However, critical thinking is essential to ensure that the link between models and reality is gradually made more adequate to reality, based on what has already been established, thus guaranteeing that science progresses on this basis and excluding any form of relativism. (shrink)

Anticiper les épidémies est le souhait le plus vif de toutes les institutions qui veillent sur la santé publique. Un raisonnement naïf permet de penser qu’il suffit de faire évoluer en laboratoire un organisme potentiellement pathogène pour savoir comment sa descendance pourra devenir plus virulente pour l’homme. Il est alors facile de faire croître cet organisme sur des cellules humaines, qu’il infecte mal pour commencer, puis de retenir ses descendants au fur et à mesure qu’ils deviennent plus infectieux. La vision (...) optimiste affirme alors que les caractériser permettra de construire des défenses appropriées. Bien des variations sur ce thème sont possibles, y compris avec l’aide de la synthèse artificielle de variants dont on saurait imaginer la pathogénicité pour l’homme. Depuis plus de deux décennies, des chercheurs développent des expériences de ce type, dite de « gain de fonction » (GdF). Leur interprétation repose sur l’illusion que nous savons prévoir l’évolution des êtres vivants. En réalité, ceux que nous observons aujourd’hui ont été sélectionnés au cours du temps précisément parce qu’ils conduisent toujours à des comportements imprévisibles. Une règle clé de l’évolution est que la vie, pour durer dans des circonstances qui ne peuvent être prévues, doit sans cesse faire émerger des formes innovantes. À ce caractère propre à la vie s’ajoute un imprévisible lié à l’impéritie humaine, cause de l’omniprésence des accidents de laboratoire. Or, en virologie spécialement, l’accident est la règle et non l’exception. Il faut ajouter que le caractère public de ces expériences les rend utilisables par toutes les structures malveillantes qui sont hélas répandues dans le monde. Il n’est pas difficile alors d’imaginer les conséquences catastrophiques des expériences de GdF. Nous proposons donc qu’elles soient purement et simplement interdites et que toute transgression soit sévèrement punie, en frappant d’abord au porte-monnaie, ce qui semble être la meilleure façon de faire dans nos sociétés devenues universellement vénales. (shrink)

Ethical concerns are motivating the search for alternative methods to obtain pluripotent stem cells without destroying human embryos. The supporters of these methods stress the importance of ensuring that the biological entities used in these alternative methods are not “disabled or sick human embryos.” In this article the authors argue that biological entities bearing anomalies or alterations that directly inhibit the appearance of neural activity (DIANA anomalies) share the moral status of human organisms fulfilling the clinical criteria for brain death. (...) By contrast, in the absence of DIANA anomalies, the moral status of a person cannot be denied. National Catholic Bioethics Quarterly 7.2 (Spring 2007): 315–335. (shrink)

Heidegger opposait a la barbarie contemporaine l'exemplarite du style philosophique kantien. Mais les grands postkantiens le jugeaient plutot exemplairement barbare, parce que non thematise, impropre, et meme autocontradictoire. L'ouvrage prend au serieux ce verdict, pour mieux l'inverser. Il identifie le statut de la connaissance critique, elucide les procedures de validation qu'elle convoque et montre que referer les theses kantiennes au regime de discours qui les etablit permet de prendre la mesure de leur radicalite. Il etablit que le philosopher kantien releve (...) d'une reflexion qui signifie discursivite, et dont le theme transcendantal repugne a etre connu sur un mode objectivant. La fidelite de la connaissance critique a la nature de son theme ne peut toutefois l'autoriser a transgresser les limites qu'elle assigne a tout savoir. Les enonces critiques appellent donc un mode de probation qui les refere indirectement a l'intuition, ou au fait qui peut en tenir lieu. Forme du discours qui n'est pas sans effets de contenu: factualite d'un transcendantal impuissant a repondre a la question de son propre pourquoi, facticite de la structure qui possibilise une connaissance dont elle partage la contingence metaphysique, indeductibilite d'une loi morale dont l'absoluite sort renforcee de ne pouvoir etre expliquee et ne cesse de feconder la pensee finie. (shrink)

It is possible to draw upon Marx’s thinking without emphasizing an automatic relationship between an economic ‘base’ and a political ‘superstructure’. The development of capitalism must then be understood as resulting from the ‘conceptual separation’ of the economic and political issues. However, the research that favours this approach fails to provide the tools for a precise and systematic study of the political work which makes this separation possible. For his part, through the development of field theory and the emphasis on (...) the notion of symbolic power, Pierre Bourdieu offers the means to analyse the political work of multiple agents, but he does not formulate a theory of capitalism tailored to his findings. It seems worthwhile to take up and extend some of his proposals to open up avenues of thought in this direction. It is then about considering that different fields coexist, each of which lends itself to a political struggle based on the assertion of symbolic power; each field contributes to a ‘conceptual separation’ of the economic and political issues, which is itself constitutive of capitalism. As a result, production and trade operations seem to be part of a natural and autonomous process. Capital can thus be accumulated without necessitating the direct use of force. The combination of fields can lend itself to certain variations. It always shapes the political structures of accumulation. (shrink)

According to portfolio managers, agriculture in general, and farmland in particular, can be considered an emerging asset class. Specialized financial vehicles, such as private equity and mutual funds, are emerging and competing to attract potential investment in this asset class. In recent years, there has been significant development of such vehicles targeting South Africa’s farming sector. These innovations are led by a group of market intermediaries who endeavour to “re-shape” South African farmland as an opportunity for institutional investors. These “pioneers” (...) engage in a multifaceted mediation process between global financial investors on one hand, and the South African agricultural sector on the other. Drawing upon an empirical study of such intermediaries in South Africa, this paper analyses the concrete mechanisms that facilitate this particular form of commodification. The paper presents and compares the intermediaries, giving particular attention to their structure, governance mechanisms and asset allocations within this “market in the making”. It describes how intermediaries develop different paths of asset valorization to unlock the “financial value” of South African farmlands. But, it also highlights some of the difficulties faced in the process of translating between international investors and local managers, questioning the “land-asset fiction” that is materializing through the subordination of farmland to the needs of financial society. (shrink)

To construct a synthetic cell we need to understand the rules that permit life. A central idea in modern biology is that in addition to the four entities making reality, matter, energy, space and time, a fifth one, information, plays a central role. As a consequence of this central importance of the management of information, the bacterial cell is organised as a Turing machine, where the machine, with its compartments defining an inside and an outside and its metabolism, reads and (...) expresses the genetic program carried by the genome. This highly abstract organisation is implemented using concrete objects and dynamics, and this is at the cost of repeated incompatibilities (frustration), which need to be sorted out by appropriate «patches». After describing the organisation of the genome into the paleome (sustaining and propagating life) and the cenome (permitting life in context), we describe some chemical hurdles that the cell as to cope with, ending with the specific case of the methionine salvage pathway. (shrink)

As a singular witness and actor of the tumultuous 20th century, Ernst Jünger remains a controversial and enigmatic figure known above all for his vivid autobiographical accounts of experience in the trenches of the First World War. This article will argue that throughout his entire oeuvre, from personal diaries to novels and essays, he never ceased to grapple with what he viewed as the central question of the age, namely that of the problem of nihilism and the means to overcome (...) it. Inherited from Nietzsche’s diagnosis of Western civilization in the late 19th century, to which he added an acute observation of the particular role of technology within it, Jünger would employ this lens to make sense of the seemingly absurd industrial slaughter of modern war and herald the advent of a new voluntarist and bellicist order that was to imminently sweep away timorous and decadent bourgeois societies obsessed with security and self-preservation. Jünger would ultimately see his expectations dashed, including by the forms of rule that National Socialism would take, and eventually retreated into a reclusive quietism. Yet he never abandoned his central problematique of nihilism, developing it further in exchanges with Martin Heidegger after the Second World War. And for all the ways in which he may have erred, his life-long struggle with meaning in the age of technique and its implications for war and security continues to make Jünger a valuable interlocutor of the present. (shrink)

This paper discusses Millstein’s criticism of the consensus view formed against selected-effects ecological functions. I argue that Millstein’s defense of coevolution-based selected-effects ecological functions applies to a notion of function as an activity, whereas proponents of the consensus view are concerned with a notion of ecological function as the contribution of an organism, population, species, or abiotic item to the maintenance of its community and/or the functioning of its ecosystem. Millstein’s arguments hence do not invalidate the consensus view but draw (...) attention to a notion of function that has been neglected in philosophical discussions and that deserves more attention. (shrink)

John Law left a remarkable legacy of economic concepts from a time when economic conceptualization was very much at an embryonic stage. Yet he is best known--and generally dismissed--today as a rake, duellist, and gambler. This intellectual biography offers a new approach to Law, one that shows him to have been a significant economic theorist with a vision that he attempted to implement as policy in early-eighteenth-century Europe. Law's style, marked by a clarity and use of modern terminology, stands out (...) starkly against the turgid prose of many of his contemporaries. His vision of a monetary and financial system was certainly one of a later age, for Law believed in an economy of banknotes and credit where specie had no role to play. Ultimately Law failed as a policy-maker, in part because of the entrenchment of the financiers and their aristocratic backers and in part because of theoretical flaws in his vision. His struggle for power took place against the background of Europe's first major stock boom and collapse. The collapse of the Mississippi System, which he had conceived, and the South Sea Bubble led to a lasting impression of Law as a failure. It is this impression that Antoin Murphy seeks to dispel. (shrink)