Lively political and public debates on war and morality have been a feature of the post-Cold War world. The Price of Peace argues that a re-examination of the just war tradition is therefore required. The authors suggest that despite fluctuations and transformations in international politics, the just war tradition continues to be relevant. However they argue that it needs to be reworked to respond to the new challenges to international security represented by the end of the Cold War and (...) the impact of terrorism. With an interdisciplinary and transatlantic approach, this volume provides a dialogue between theological, political, military and public actors. By articulating what a reconstituted just war tradition might mean in practice, it also aims to assist policy-makers and citizens in dealing with the ethical dilemmas of war. (shrink)

_A concise history of “just price,” from Aristotle to the present day_ The question of what constitutes a fair price has been at the center of market interactions since the time of Aristotle. Should a seller sell to the highest bidder, or is there some other standard, such as a morally defined price, to be applied? Charles R. Geisst traces the ways that philosophers, religious leaders, and economists have sought to answer that question, from antiquity through (...) the modern era. Aristotle’s thinking on usury influenced the idea of pricing well into the Renaissance. In his view, money was barren and should not be used to beget more money. As trade became more extensive, the strictures placed on pricing by Aristotelian thinking began to fall away, replaced by Roman and common-law conceptions of value and interest. Geisst’s book follows the evolution of that thought—influenced along the way by figures such as Copernicus, Fibonacci, Adam Smith, Marx, Cassel, and Keynes—and charts parallel developments in European and Islamic notions of fair pricing. Today, pricing is seen as an economic inevitability, dictated by the laws of supply and demand. But this has not always been the case. As Geisst argues, the idea of a just price was once a moral concept, long before it was an economic one. (shrink)

The poem of Parmenides is the earliest philosophic text which is preserved with sufficient completeness and continuity to permit us to follow a sustained line of argument. It is surely one of the most interesting arguments in the history of philosophy, and we are lucky to have this early text, perhaps a whole century older than the first dialogues of Plato. But the price we must pay for our good fortune is to face up to a vipers' nest of (...) problems, concerning details of the text and the archaic language but also concerning major questions of philosophic interpretation. These problems are so fundamental that, unless we solve them correctly, we cannot even be clear as to what Parmenides is arguing for, or why. And they are so knotted that we can scarcely unravel a single problem without finding the whole nest on our hands. (shrink)

SPECIAL INTRODUCTORY PRICE! No collection of this sort has yet been conceived of, let alone accomplished, in this field. In part that may well be due to the extraordinarily nascent character of the field of comparative religious ethics, described as that. Yet the aim is not simply to gather together a number of pieces, but -- with the appropriate modesty and tentativeness -- to offer one picture of how the field ought to understand itself: its past, present, and perhaps (...) its future. A critical mass of scholars has now emerged in this area, and the institutional dynamics of religious studies departments, which are increasingly seeing the attractions of classes in "comparative ethics," are favorable as well. By gathering together both "classic" statements, exemplifying paradigmatic approaches in the field, and recent, ground-breaking and innovative works, the ambition is to make this collection the gold standard for anyone working on the field of comparative religious ethics in coming decades. (shrink)

The Efficient Market Hypothesis often seems to suggest only that most people cannot outguess the financial markets. But the originator of the hypothesis, Eugene Fama, made the stronger claim that people cannot outguess the financial markets because financial-market prices are correct: They incorporate all known information accurately. This view omits the role that human traders’ interpretations of information must play if the information is to prompt them to buy or sell. Buyers and sellers disagree about the meaning of current information, (...) so at least half of them must be wrong. Bringing in many more (but equally fallible) people to predict the future does not somehow make their (collective) answer “right.” This is a logical disproof of the Fama hypothesis, but the inherently speculative nature of financial markets makes its empirical falsification (or verification) ambiguous if not impossible. The hypothesis must therefore be considered an unscientific article of faith. (shrink)

The Efficient Market Hypothesis often seems to suggest only that most people cannot outguess the financial markets. But the originator of the hypothesis, Eugene Fama, made the stronger claim that people cannot outguess the financial markets because financial-market prices are correct: They incorporate all known information accurately. This view omits the role that human traders’ interpretations of information must play if the information is to prompt them to buy or sell. Buyers and sellers disagree about the meaning of current information, (...) so at least half of them must be wrong. Bringing in many more (but equally fallible) people to predict the future does not somehow make their (collective) answer “right.” This is a logical disproof of the Fama hypothesis, but the inherently speculative nature of financial markets makes its empirical falsification (or verification) ambiguous if not impossible. The hypothesis must therefore be considered an unscientific article of faith. (shrink)

On the relations of universals and particulars, by B. Russell.--Universals and resemblances, by H. H. Price.--On concept and object, by G. Frege.--Frege's hidden nominalism, by G. Bergmann.--Universals, by F. P. Ramsey.--Universals and metaphysical realism, by A. Donagan.--Universals and family resemblances, by R. Bambrough.--Particular and general, by P. F. Strawson.--The nature of universals and propositions, by G. F. Stout.--Are characteristics of particular things universal or particular? By G. E. Moore and G. F. Stout.--The relation of resemblance, by P. Butchvarov.--Qualities, by (...) N. Wolterstroff.--On what there is, by W. V. Quine.--Empiricism, semantics, and ontology, by R. Carnap.--The languages of realism and nominalism, by R. B. Brandt.--Grammar and existence: a preface to ontology, by W. Sellars.--A world of individuals, by N. Goodman.--Bibliographical notes (p. [307]-308). (shrink)

This paper is a critique of coercive theories of meaning, that is, theories (or criteria) of meaning designed to do down ones opponents by representing their views as meaningless or unintelligible. Many philosophers from Hobbes through Berkeley and Hume to the pragmatists, the logical positivists and (above all) Wittgenstein have devised such theories and criteria in order to discredit their opponents. I argue 1) that such theories and criteria are morally obnoxious, a) because they smack of the totalitarian linguistic tactics (...) of the Party in Orwell’s 1984 and b) because they dehumanize the opposition by portraying them as mere spouters of gibberish; 2) that they are profoundly illiberal since if true, they would undermine Mill’s arguments for free speech; 3) that such theories are prone to self-contradiction, pragmatic and otherwise; 4) that they often turn against their creators including what they were meant to exclude and excluding what they were meant to include; 5) that such theories are susceptible to a modus tollens pioneered by Richard Price in his Review Concerning the Principle Questions of Morals(1758); and 6) that such theories are prima facie false since they fail to ‘predict’ the data that is it their business to explain (or, in the case of criteria, fail to capture the concept that they allegedly represent). The butcher’s bill is quite considerable: some of Hobbes, a fair bit of Locke, half of Berkeley, large chunks of Hume, Russell's Theory of Types, verificationism in its positivist and Dummettian variants, much of pragmatism and most of Wittgenstein - all these have to be sacrificed if we are to save our souls as philosophic liberals. (shrink)

The Euthyphro is crucially important for understanding Plato's presentation of the last days of Socrates, dramatized in four brief dialogues: Euthyphro, Apology, Crito, and Phaedo. In addition to narrating this evocative series of events in the life of Plato's philosophical hero, the texts also can be read as reflecting how a wise man faces death. This particular dialogue contains Socrates' vivid examination of the intentions of Euthyphro to prosecute his own father for murder and culminates in an attempt to understand (...) holiness-a topic central both to Euthyphro's justification of his actions and to the charge of impiety that Socrates faces before the Athenian court. This accessible student commentary by Charles Platter presents an introduction to the Euthyphro, the full Greek text, and a commentary designed for undergraduates and selected graduate students. As part of the series Michigan Classical Commentaries, now edited by Josiah Osgood and Alexander Sens at Georgetown University, and K. Sara Myers at the University of Virginia, the volume is sized and priced for student use. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:92 HISTORY OF PHILOSOPHY seulement apr~s qu'on a drmontr6 son existence (pp. 182, 183, 185, 188). Or ceci nous parait tout h fait erronr: la critique mrt~physique de l'activit6 rrv~le qu'elle implique drpendance, et non seulement par rapport ~t d'autres 8tres finis (ce qu'Aristote a drift vu), mais par rapport ~t une Cause transcendante et infinie qui, en crrant l'~tre fini, lui donne constamment le pouvoir de se drpasser (...) en produisant ses aetes seconds. C'est pourquoi l'analyse mrtaphysique de l'activit6 est une des voies qui conduisent ~t la drcouverte de Dieu. Scot lui-m~me, du reste, reconnait que tout changement implique drpendance et rrv~le l'existence d'un Etre immuable et absolu (pp. 184-185). Ceci nous donne l'occasion de revenir h la prima via de Thomas d'Aquin. La libert6 avec laquelle nous avons discut6 nagu~re la valeur des quinque viae ne permet pas de nous SOUl~onner d'attachement servile aux positions du saint Docteur. La prima via est une preuve incomplete de l'existence de Dieu entendu comme le Crrateur unique de l'univers, nous avons dit et redit pourquoi. Mais l'argumentation qui s'appuie sur le principe de motion nous a toujours paru et nous parait encore inattaquable: dans la Summa contra Gentiles (I, 13), Thomas 6tait encore emp~tr6 dans la physique d'Aristote, mais, dans la Summa theologiae il se maintient strictement au plan mrtaphysique : un ~tre qui change vraiment ne saurait changer par lui-mSme. Ce principe est inrbranlable et la critique de Duns Scot est inol~rante ici. F. VAN STEENBERGHEN Louvain Francesco Sanchez. By Salvatore Miecolis. (Bari: Tipografia Levante, 1965. Universith di Bari, Pubblicazioni dell'Istituto di filosofia, no. 8. Pp. 100, one plate. No price given). Francisco Sanches,1 the Portuguese philosopher and physician of Jewish parentage who was also a relative of Montaigne, ranks as one of the more interesting of sixteenthcentury thinkers. Not only is he an important reviver of scepticism in the sixteenth century, but his best known work Quod nihil scitur (first printed in 1581) was still well enough known in the next century to draw several separate attacks. What is more, various scholars have pointed out the similarities between the arguments used in Sanches' work and Descartes' cogito argument. Though there are now quite a number of studies on Sanches, especially in Portuguese, there is not yet a defnitive study of aU aspects of his life, thought, and influence. In English there is very little indeed and we could well use a monograph or at least an article on Sanches to make some of his ideas accessible to a wider audience. A definitive study will require much work and 1 This is the Portuguese form of his name. It is also sometimes given the Spanish spelling 'Sanchez' as in the title of Miccolis' book. He was born near the Spanish-Portuguese border about 1550 and moved to France, while still a boy, and there spent the remainder of his life. There has been much discussion whether Sanches was in fact Portuguese or Spanish by birth and, consequently, which is the correct form of his name. It does not seem as though the question of his nationality can be answered with certainty. We have chosen to use the Portuguese form since the Portuguese seem to have adopted him as one of their philosophers more frequently than have the Spanish. BOOK REVIEWS 93 would have to use the extensive notes made by H. P. Cazac, who died before he could utilize all of the material which he had collected,z For these reasons one might look to Miccolis' book as a new contribution to Sanches studies. One is bound to be disappointed, however, for little new material is brought forth here and even previous studies on Sanches are not fully utilized. Although this study has the format of a book, its length is little more than that of a substantial article (ca. 25,000 words). After a very brief introductory section on the life and works of Sanches, the author treats the Quod nihil scitur and 'Sanches and medicine' in... (shrink)

In this paper we investigate whether, and how, corporate management strategically uses disclosure to manage the perceptions of different organizational audiences. In particular, we examine the interactions between the FIAT Group and three of its key organizational audiences—the local press, the international press, and the financial analysts, which are characterized by different levels of salience for the company. We focus on both how management reacts to the optimism level existing within each audience and how the narrative disclosure tone adopted by (...) FIAT influences the ex-post optimism in the local and international press or in the financial analyst community. We investigate the disclosure of the FIAT Group over a 6-year period , during which 70 price-sensitive press releases were published. On the basis of 1,887 news articles published in Italian newspapers and 411 analyst reports, we report evidence of different strategic patterns in the interaction processes between FIAT and its audiences. Our findings also indicate some differences in the way FIAT is affected by, and in turn, affects the sentiment of each audience, thus highlighting that the salience of the stakeholder is an important driver of the adoption of impression management techniques. Taken together, our findings point to issues related to setting the “tone at the top” and potential ethical matters. (shrink)

The Securities and Exchange Commission requires the disclosure of changes to or waivers of corporate codes of ethics. Because the nature of amendments or waivers can vary, we expect the text of Item 5.05 to include different topics within different filings. We examine the population of these disclosures in Item 5.05 8-K filings from 2004 to 2020. While previous studies utilized small samples (fewer than 50 observations) to examine limited aspects of these filings, we use the population of these filings (...) from 2004 to 2020 (2121 8-K filings) to elucidate the nature and details of the disclosures. We assess whether Latent Dirichlet Allocation—a computational linguistics technique—can help discern the underlying topics represented in filings. While the Securities and Exchange Commission identifies two topics—amendments and waivers—the Latent Dirichlet Allocation analysis reveals four topics (three related to amendments): (1) code updates and clarifications; (2) combining codes of conduct for all officers and employees, or splitting codes to include a code directly applicable to senior financial officers; (3) codes of ethics waivers; and (4) substantive code changes. The overall trend is for fewer 8-Ks to be filed in recent years, with updates and clarifications becoming the predominant filing type. Our results further indicate that Item 5.05s related to updates and clarifications, and those related to combined or split codes, use fewer words and are more easily readable than those disclosing waivers or material code changes. Although we find no significant price reaction to Item 5.05 8-K filings, we find significant trading volume and volatility reactions, suggesting that these disclosures could give rise to differences in opinion among investors, which is consistent with the US Senate's assertion that these disclosures are of interest to investors. (shrink)

As we await the Second Coming of President Donald Trump, it is important to understand that his conservative Evangelical supporters view him not as a new Christ but as a new Constantine, a guardian of Western Civilization in a crucial period when we face threatened conquest by foreign enemies and infiltrators, Postmodern Neo-Marxism, and Militant Islam Thus he should be seen also as a new Charles Martel. He need not be a Bible-reading pietist to fulfill these roles, so Christians (...) need not be ashamed of him if he isn’t. (shrink)

The technology in use in a country is determined less by the "supply push" of technologically oriented programs than by the "demand pull" from users. In a market economy, the latter is strong ly influenced by the level and structure of prices, wages, and exchange rates, by the price and avail abitity of credit, raw materials, and energy, by patterns of income distribution, and by the degree of competition among different producers. All of these are strongly influenced by government (...) policies. In a centrally planned economy, the demand for improved technology depends on the incentives facing decision-makers in factories and ministries. In both kinds of economies, the orientation and content of engineering education and general education, influence the values that engineers, entrepreneurs, and other decision-makers bring to the technological aspects of their development. (shrink)

This essay is the journal editor's introduction to part 3 of an ongoing symposium on quietism. With reference to writings of James Joyce, Francis Picabia, J. M. Coetzee, Charles Taylor, Alasdair MacIntyre, Elaine Pagels, and Karen King—and with extended reference to Jonathan Lear's study of “cultural devastation,” Radical Hope—Jeffrey Perl explores the possibility that the fear of anomie is misplaced. He argues that, in comparison with the violence and narrowness of any given social order, anomie may well be preferable, (...) and, in any case, may be no more than another name for quietism. (shrink)

This essay is the journal editor's introduction to part 3 of an ongoing symposium on quietism. With reference to writings of James Joyce, Francis Picabia, J. M. Coetzee, Charles Taylor, Alasdair MacIntyre, Elaine Pagels, and Karen King—and with extended reference to Jonathan Lear's study of “cultural devastation,” Radical Hope—Jeffrey Perl explores the possibility that the fear of anomie (“anomiphobia”) is misplaced. He argues that, in comparison with the violence and narrowness of any given social order, anomie may well be (...) preferable, and, in any case, may be no more than another name for quietism. (shrink)

Peter Geach proposed a substitutional construal of quantification over thirty years ago. It is not standardly substitutional since it is not tied to those substitution instances currently available to us; rather, it is pegged to possible substitution instances. We argue that (i) quantification over the real numbers can be construed substitutionally following Geach's idea; (ii) a price to be paid, if it is that, is intuitionism; (iii) quantification, thus conceived, does not in itself relieve us of ontological commitment to (...) real numbers. (shrink)

Lawrence M. Friedman and Robert V. Percival, The Roots of Justice: Crime and Punishment in Alameda County, California, 1870?1910 Chapel Hill, N.C.: The University of North Carolina Press, 1981, 335 pp. Charles Campbell, Serving Time Together: Men and Women in Prison Fort Worth, Texas Christian University Press, 1980, 237 pp.

Recent finance literature attributes the development of derivative instruments to technological advances, and improved mathematical models for predicting option prices. This paper explores the role of social ethics in the acceptance of financial derivatives. The relationship between utilitarian ethical principles and the demise of turn-of-the-century bucket shops is contrasted with modern tolerance of financial derivatives based upon libertarian ethical precepts. Our conclusion is that a change in social ethics also facilitated the growth in trading in modern financial derivatives.

MEDIEVAL LOGICS LAMBERT MARIE DE RIJK (ed.), Die mittelalterlichen Traktate De mod0 opponendiet respondendi, Einleitung und Ausgabe der einschlagigen Texte. (Beitrage zur Geschichte der Philosophie und Theologie des Mittelalters, Neue Folge Band 17.) Miinster: Aschendorff, 1980. 379 pp. No price stated. THE SEVENTEENTH CENTURY MARTA FATTORI, Lessico del Novum Organum di Francesco Bacone. Rome: Edizioni dell'Ateneo 1980. Two volumes, il + 543, 520 pp. Lire 65.000. VIVIAN SALMON, The study of language in 17th century England. (Amsterdam Studies in the (...) Theory and History of Linguistic Science, Series 111: Studies in theHistory of Linguistics, Volume 17.) Amsterdam: John Benjamins B.V., 1979.x + 218 pp. Dfl. 65. Theoria cum Praxi. Zum Verhaltnis von Theorie und Praxis im 17. und 18. Jahrhundert. (Akten des 111. Internationalen Leibnizkongress, Hannover, 12. bis 17.November 1977, Band 111: Logik, Erkenntnistheorie, Wissenschaftstheorie, Metaphysik, Theologie.) Wiesbaden: Franz Steiner Verlag, 1980. vii + 269 pp. DM 48. CLASSICAL AND NON-CLASSICAL LOGICS MICHAEL CLARK, The place of syllogistic in logical theory. Nottingham: University of Nottingham Press, 1980. ix + 151 pp. £3.00. A.F. PARKER-RHODES, The theory of indistinguishables. Dordrecht, Boston and London: D. Reidel Publishing Company, 1981. xvii + 216 pp. Dfl.90.00/$39.50. NICHOLAS RESCHER and ROBERT BRANDOM, The logic of inconsistency. Oxford:Basil Blackwell, 1980. x + 174 pp. f 11.50. MISCELLANEOUS J. ZELENY, The logic of Marx. Translated from the German by T. Carver. Oxford: Basil Blackwell, 1980. xcii + 247 pp. £12.50. FELIX KAUFMANN, The infinite in mathematics. Edited by Brian McGuinness. Introduction by E. Nagel. Translation from the German by Paul Foulkes. Dordrecht: Reidel, 1978. xvii + 235 pp. Dfl 85/$39.50 (cloth); Dfl 45/$19.95 (paper). PAMELA MCCORDUCK, Machines who think. San Francisco: W.H. Freeman and Company, 1979. xiv + 275 pp. $14.95. J. MITTELSTRASS (ed.), Enzyklopadie Philosophie und Wissenschaftstheorie Bd. 1 : A-G. Mannheim, Wien, Ziirich: Bibliographisches Institut, 1980. 835 pp. DM 128. (shrink)

In actuarial parlance, the price of an insurance policy is considered fair if customers bearing the same risk are charged the same price. The estimate of this fair amount hinges on the expected value obtained by weighting the different claims by their probability. We argue that, historically, this concept of actuarial fairness originates in an Aristotelian principle of justice in exchange (equality in risk). We will examine how this principle was formalized in the 16th century and shaped in (...) life insurance during the following two hundred years, in two different interpretations. The Domatian account of actuarial fairness relied on subjective uncertainty: An agreement on risk was fair if both parties were equally ignorant about the chances of an uncertain event. The objectivist version grounded any agreement on an objective risk estimate drawn from a mortality table. We will show how the objectivist approach collapsed in the market for life annuities during the 18th century, leaving open the question of why we still speak of actuarial fairness as if it were an objective expected value. (shrink)

We defend, from a contractarian perspective, that the fair price of an insurance policy is the amount that the contracting parties agree when they are both equally uncertain about the insured event. Drawing on the approach developed by R. Sugden in _The Community of Advantage_, we answer two standard objections raised against contractarianism in the actuarial sciences: (1) people are not wise enough to assess their actuarial risks; (2) they are not rational enough to decide which insurance policy suits (...) them better. We show under which circumstances people can make fair actuarial agreements, without presupposing any objective risk or rationality benchmarks. (shrink)

The specific issue addressed in this paper is urban encroachment on agricultural lands, and the problems it poses for both analysis and the conservation of the land resource. The purpose of our discussion is two-fold: (1) to identify where and why traditional analytical and regulatory approaches fail to resolve land use conflicts, and (2) to explore ways and means of resolving some of the dilemmas which society faces in making land use decisions. This paper's contribution is in the spirit of (...) Getting Incentives Right for the inter-temporal transfer of wealth, as represented in trade-offs between environmental and resource endowments and human and physical capital. Efforts are placed on identifying what the appropriate price, levy, taxes, and grant ratios ought to be in order to encourage individuals in the marketplace to act in society's interest. We have also explored ways of efficiently transmitting those incentives through the market mechanism, without unduly relying on bureaucratic methods or suasion. Emphasis is placed on mechanisms that have little scope for preferential access and are subject to public scrutiny; emphasis on such self-disciplining approaches should result in less effort expended on (unproductive) lobbying activities and bureaucratic administration. (shrink)