In this innovative book, Gloria Frost reconstructs and analyses Aquinas's theories on efficient causation and causal powers, focusing specifically on natural causal powers and efficient causation in nature. Frost presents each element of Aquinas's theories one by one, comparing them with other theories, as well as examining the philosophical and interpretive ambiguities in Aquinas's thought and proposing fresh solutions to conceptual difficulties. Her discussion includes explanations of Aquinas's technical scholastic terminology in jargon-free prose, as well as background on medieval scientific (...) views - including ordinary language explanations of the medieval physical theories which Aquinas assumed in formulating his views on causation and causal powers. The resulting volume is a rich exploration of a central philosophical topic in medieval philosophy and beyond, and will be valuable especially for scholars and advanced students working on Aquinas and on medieval natural philosophy. (shrink)

There is a growing body of literature on ethical or socially responsible investment across a range of disciplines. This paper highlights the key themes in the field and identifies some of the major theoretical and practical challenges facing both scholars and practitioners. One of these challenges is understanding better the complexity of the relationship between such investment practices and corporate behaviour. Noting that ethical investment is seldom characterised by agreement about what it actully constitutes, and that much of the extant (...) research focuses on a narrow set of issues, the paper argues that there are benefits associated with examining ethical investment as a process. (shrink)

Interest in the notion of the possible financial sacrifice suffered by socially responsible investment (SRI) fund investors for considering ethical, social and environmental issues in their investment decisions has spawned considerable academic interest in the performance of SRI funds. Both the Australian and international research literature have yielded largely mixed results. However, several of these studies are hampered by methodological problems which can obscure the significance of reported results, such as the use of small sample sizes, inconsistencies in the time (...) frames selected to analyse performance and different modelling frameworks used to estimate investment returns. This study attempts to redress some of these issues by investigating the returns performance of 89 ethical funds in Australia over the period 1986-2005. Using a multi-factor CAPM model [Fama, E. F., and K. R. French (1996) J. Finance 51(1), 55] (which controls for factors such as size, book-to-market value and momentum) we find that ethical funds significantly under-perform the market in Australia, particularly in the most recent 5 years of our sample period (2000-2005). Risk adjusted returns (using Jensen's alpha) indicate that average annual underperformance is around 1.52% in the 2000-2005 period for our sample and .88% over the whole sample period. Our results contrast with many previous studies (both Australian and international), which have not found statistically significant differences in the performance of ethical funds relative to market benchmarks and/or a matched sample of conventional funds. (shrink)

This paper reconstructs and analyzes Thomas Aquinas’ intriguing views on transeunt causal activity, which have been the subject of an interpretive debate spanning from the fifteenth century up until the present. In his Physics commentary, Aquinas defends the Aristotelian positions that the actualization of an agent’s active potential is the motion that it causes in its patient and action and passion are the same motion. Yet, in other texts, Aquinas claims that action differs from passion and “action is in the (...) agent” as subject. This paper proposes a solution for how to reconcile Aquinas’ varying claims about what transeunt causal activity is in reality. In addition to advancing understanding of Aquinas’ views on causal activity, the paper also offers insights into more general topics in his thought, such as the relationship between actualities and accidents and the nature of extrinsic accidents. (shrink)

The relationship between divine and created causality was widely discussed in medieval and early modern philosophy. Contemporary scholars of these discussions typically stake out three possible positions: occasionalism, concurrentism, and mere-conservationism. It is regularly claimed that virtually no medieval thinker adopted the final view which denies that God is an immediate active cause of creaturely actions. The main aim of this paper is to further understanding of the medieval causality debate, and particularly the mere-conservationist position, by analysing Peter John Olivi's (...) neglected defence of it. The paper also includes discussion of Thomas Aquinas's arguments for concurrentism and an analysis of whether Olivi's objections refute his position. (shrink)

This paper explores one organisation’s journey into non-financial reporting, initially motivated by a crisis in public confidence that threatened the organisation’s legitimacy to the present with the organisation embracing integrated reporting. The organisation’s journey is framed through a legitimation lens and is illustrated by aligning internal reflections with external outputs guided by predominant paradigms of good practice, such as the GRI guidelines and more recently integrated reporting 〈IR〉. We find that the organisation’s relationship with external guidelines has evolved from pragmatic (...) adoption as a means of seeking external legitimation to the present position where those that prepare external reports are informed by the organisation’s strategic positioning and not constrained by the promulgation of voluntary guidelines. From the case study, we suggest that the International Integrated Reporting Council may face two hurdles: First, organisations may define social norms based on a broader definition of stakeholders than the definition currently published by the IIRC. The second hurdle is to convince report preparers that adopting integrated reporting 〈IR〉 will positively impact on capital flows. (shrink)

Both Thomas Aquinas and John Duns Scotus were committed to the view that effects with a contingent modality exist in the created world. This is to say that there are things that could have been otherwise. This chapter explores their respective accounts of the ontological reason for why there are effects with a contingent modality. Leibniz considered Aquinas’s and Scotus’s views on this issue, concluding that they were in fundamental disagreement about the ‘root of contingency.’ This chapter first makes a (...) distinction between two different senses in which an object can have a contingent modality, one having to do with causation and the other with modes of existence. Then it applies this distinction to Aquinas’s and Scotus’s texts to show that their views on why there is contingency in creation are in fact quite similar. (shrink)

This paper discusses Scotus’s view of how God knows sins by analyzing texts from his discussions of God’s permission of sin and predestination. I show that Scotus departed from his standard theory of how God knows contingents when explaining how God knows sins. God cannot know sins by knowing a first-order act of his will, as he knows other contingents according to Scotus, since God does not directly will sins. I suggest that Scotus’s recognition that his standard theory of God’s (...) knowledge of contingents could not account for how God knows sins may have contributed to his ultimate rejection of this theory. (shrink)

(2013). Thomas Bradwardine on God and the Foundations of Modality. British Journal for the History of Philosophy: Vol. 21, No. 2, pp. 368-380. doi: 10.1080/09608788.2012.689754.

It is commonplace in mainstream analytic philosophy to conceive of causation as a relation between events. On this picture, both causes and effects belong to the same ontological category—event—and in order to have an instance of causation you need at least two of them. ‘Dropping’ causes ‘breaking,’ ‘cutting’ causes ‘splitting,’ and ‘raising my arm’ causes it ‘to be raised.’ It is well-known that philosophers from the ancient through the early modern period conceived of the relata of causation quite differently. On (...) their accounts causes are substances—not events. The ball which strikes causes the nine ball to sink, the child who drops causes the vase to break, and the person who raises her arm causes it to go up. (shrink)

Aquinas thinks that if we want to understand causal interactions between material substances, we cannot focus exclusively on agents and their active powers. In his view, there are also passive potencies which enable material substances to be acted upon. He claims that for every type of active potency, there is a corresponding passive potency. This article aims to clarify Aquinas’s views about the passive potencies of material substances. It recovers his thinking on three key questions: first, what is the basis (...) or source of a material substance’s passive potentialities? Put otherwise, what constituents of material substances explain why they have capabilities for being acted upon? Second, how are a material substance’s passive potencies identified and distinguished from one another? Lastly, are passive potencies for undergoing action the same as a substance’s potencies for existing in determinate ways? For example, is a pot of water’s potentiality for being heated the same as its potentiality to be hot? (shrink)

The metaphysics underlying differences in degree of qualitative intensity was widely debated in the medieval period. Medieval Aristotelians agreed that subjects possess qualities in virtue of inherent accidental forms. Yet, there was considerable disagreement about what happens at the level of form when a quality increases or decreases in its intensity. For instance, what happens when a pot of water on the stove gets hotter? Is the water’s previous form of heat replaced by a new one, or does the same (...) form of heat persist? Does the form of heat itself undergo a change, or does only the water undergo a change? While there have been several important studies on the medieval debate about the “intension and remission of forms,” little attention has been paid to Thomas Aquinas’s intriguing theory. Aquinas claims that a subject’s quality increases in intensity in virtue of the subject “participating” more perfectly in an invariable form. This paper examines Aquinas’s conception of the participation relationship between a substance and its accidental forms; and his metaphysical analysis of changes of intensification. (shrink)