This article examines the financial technology of derivatives. Derivatives are financial products whose values are based on possible fluctuations in the values of underlying assets. Hence derivatives markets are markets that trade in the risks of other markets. In order for derivatives markets to function, forms of prognostication that can assess the possible future fluctuations of the underlying markets are necessary. What such prognostications do, the article argues, is to create information out of future possibilities. Building upon a notion of (...) virtuality derived from Gilles Deleuze, Ulrich Beck and Niklas Luhmann, the article shows how market risks and uncertainties, by means of prognostications, cease to be mere possibilities and instead come to have virtual existence. Through the technology of derivatives, uncertainty and risk can be rendered virtual and be traded. The article suggests that this technology is an example of a new way in which capitalism is now expanding self-referentially as it creates markets out of markets; and of how it is colonizing the future by developing new technologies for ‘hyper-speculation’, that is, speculation not in the possible developments of a given asset but simply in the risk of such speculation. (shrink)

This article examines the financial technology of derivatives. Derivatives are financial products whose values are based on possible fluctuations in the values of underlying assets. Hence derivatives markets are markets that trade in the risks of other markets. In order for derivatives markets to function, forms of prognostication that can assess the possible future fluctuations of the underlying markets are necessary. What such prognostications do, the article argues, is to create information out of future possibilities. Building upon a notion of (...) virtuality derived from Gilles Deleuze, Ulrich Beck and Niklas Luhmann, the article shows how market risks and uncertainties, by means of prognostications, cease to be mere possibilities and instead come to have virtual existence. Through the technology of derivatives, uncertainty and risk can be rendered virtual and be traded. The article suggests that this technology is an example of a new way in which capitalism is now expanding self-referentially as it creates markets out of markets; and of how it is colonizing the future by developing new technologies for ‘hyper-speculation’, that is, speculation not in the possible developments of a given asset but simply in the risk of such speculation. (shrink)

In den letzten 25 Jahren hat das chinesische Recht eine beeindruckende Entwicklung erfahren. In zunehmendem Maße wird es Gegenstand wissenschaftlicher Untersuchungen, und in Deutschland erscheinen in immer größerer Zahl Publikationen, die das chinesische Recht für die Rechtsvergleichung erschließen oder es rechtsvergleichend mit anderen Rechtsordnungen erörtern. In der neuen Schriftenreihe Schriften zum chinesischen Recht, die im Auftrag der Deutsch-Chinesischen Juristenvereinigung von Professor Dr. Uwe Blaurock, Freiburg, Professor Dr. Ulrich Manthe, Passau, Dr. Knut B. Pißler, Hamburg, und Professorin Dr. Christiane Wendehorst, (...) Göttingen, herausgegeben wird, sollen in erster Linie Monographien, wie etwa herausragende Dissertationen oder Habilitationsschriften erscheinen, darüber hinaus aber auch Tagungsbände sowie kommentierte Übersetzungen wichtiger chinesischer Gesetze oder zweisprachige Gesetzessammlungen. Es soll hiermit der wissenschaftliche Gedankenaustausch mit China gefördert und für rechtsvergleichend arbeitende Juristen eine Publikationsplattform geschaffen werden. Ein besonderer Gesichtspunkt ist dabei auch der Praxisbezug der veröffentlichten Werke. Die Herausgeber hoffen, dass die Schriften zum chinesischen Recht künftig einen wesentlichen Bestandteil des rechtlichen Dialogs zwischen Deutschland und China bilden werden und wünschen ihnen eine wohlwollende Aufnahme in der juristischen Öffentlichkeit. (shrink)

Der Laureatus dieser Schrift hatte 1986 Hans Jonas eröffnet, daß er an einer Politischen Philosophie arbeite, aus der, wie die Autoren dieses Bandes wissen, nichts geworden ist und von der man auch sonst nicht viel vernommen hat. Jonas wandte damals ein: "Wie wollen Sie der Politischen Vernunft auf die Beine helfen? Das Wissen über die politischen Bewußtseinsvoraussetzungen in uns und ihre Struktur in Gesellschaften ist in esoterische Teilbestände und exoterische politische Religionen, Ideologien und Denkschulen zerfallen. Diese Angelegenheit müßte einer umfassenden (...) Kritik unterzogen werden. Außerdem müßten alle gescheiterten Restitutionsversuche von Platon bis heute auf ihre Prägnanz hin durchgegangen werden. Er nannte Thomas von Aquin, Spinoza, Kant, Hegel, Arendt, Strauss, Voegelin und sich selbst. Sie müßten die Erfahrungen und die Maßstäbe, aus denen das politische Bewußtsein sich ernährt und aufrichtet und die, die es vergiften, frei legen." Im nachfolgenden Gespräch über verschiedene Denker und ihre Texte zur politischen Philosophie tauchten metaphorisch die "leuchtenden Fünkchen" oder "Goldklümpchen" auf, in denen Jonas und der Laureatus lebendige Reste der Politischen Vernunft und die menschheitliche Erinnerung an sie erkannten. "Wir sind womöglich aus einer Jeremiade herausgekommen …" lautete der verheißungsvolle Schlußpunkt des kurzen Gesprächs. Der Laureatus, Jurist und Politikwissenschaftler, konnte während seiner Lehr- und Forschungstätigkeit einige Anregungen für "philosophische Fragestellungen" zu den grotesken und verflachten Formationen des politischen Denkens unserer Zeit geben. Die Autoren sind Claus-Ekkehard Bärsch, Giandomenico Bonanni, Ulrich Diehl, Michael Ensslen, Jürgen Gebhardt, Volker Gerhardt, Manfred Henningsen, Vittorio Hösle, Klaus Kodalle, Peter König, Daniel Krochmalnik, Jan-Ivar Lindén, Reiner Manstetten, Krzysztof Maurin, Peter J. Opitz, Thomas Petersen, Walter Rothholz, Florian Sattler, Stephan Sattler, Julius H. Schoeps, Peter von Sivers, Chiara Staude-Colli, Jakob Staude, Kurt Stenzel, Peter Weber-Schäfer, Reiner Wiehl und James Wood. (shrink)

This chapter introduces the rationalist model of delusions. It begins by presenting John Campbell’s seminal proposal that delusions are caused top-down by pathological Wittgensteinian framework or hinge beliefs. After presenting Campbell’s rationalist account of delusions, the chapter raises and examines prominent objections by Tim Bayne & Elisabeth Pacherie as well as by Tim Thornton. The former make an important distinction between the aetiological top-down cognitive part and the epistemological rationalist framework part of Campbell’s account. The thesis that delusions are caused (...) top-down by pathological beliefs is not equivalent to the thesis that delusions are Wittgensteinian framework certainties. This chapter endorses this distinction. While the arguments against the top-down aspect are found to be more convincing – which motivates popular two-factor theories – the rationalist framework model of delusions is defended as an epistemologically promising account of delusion. Finally, this chapter examines a range of developments that have been made taking Campbell’s rationalism as a starting point. Most prominently the section examines Eilan’s early development of rationalism and Rhodes and Gipps’ proposal that delusions are not framework propositions but a product of their absence. (shrink)

Artificial Intelligence (AI) often outperforms human doctors in terms of decisional speed. For some diseases, the expected benefit of a fast but less accurate decision exceeds the benefit of a slow but more accurate one. In such cases, we argue, it is often justified to rely on a medical AI to maximise decision speed – even if the AI is less accurate than human doctors.

The period from Plato's birth to Aristotle's death (427-322 BC) is one of the most influential and formative in the history of Western philosophy. The developments of logic, metaphysics, epistemology, ethics and science in this period have been investigated, controversies have arisen and many new theories have been produced. But this is the first book to give detailed scholarly attention to the development of dialectic during this decisive period. It includes chapters on topics such as: dialectic as interpersonal debate between (...) a questioner and a respondent; dialectic and the dialogue form; dialectical methodology; the dialectical context of certain forms of arguments; the role of the respondent in guaranteeing good argument; dialectic and presentation of knowledge; the interrelations between written dialogues and spoken dialectic; and definition, induction and refutation from Plato to Aristotle. The book contributes to the history of philosophy and also to the contemporary debate about what philosophy is. (shrink)

Morality and economic rationality: integrative economic ethics as the rational ethics of economic activity; Part II. Reflections on the Foundations of Economic ...

Ulrich Beck's best selling Risk Society established risk on the sociological agenda. It brought together a wide range of issues centering on environmental, health and personal risk, provided a rallying ground for researchers and activists in a variety of social movements and acted as a reference point for state and local policies in risk management. The Risk Society and Beyond charts the progress of Beck's ideas and traces their evolution. It demonstrates why the issues raised by Beck reverberate widely (...) throughout social theory and covers the new risks that Beck did not foresee, associated with the emergence of new technologies, genetic and cybernetic. The book is unique because it offers both an introduction to the main arguments in Risk Society and develops a range of critical discussions of aspects of this and other works of Beck. (shrink)

The article discusses the use of algorithmic models in finance. Algo trading is widespread but also somewhat controversial in modern financial markets. It is a form of automated trading technology, which critics claim can, among other things, lead to market manipulation. Drawing on three cases, this article shows that manipulation also can happen in the reverse way, meaning that human traders attempt to make algorithms ‘make mistakes’ by ‘misleading’ them. These attempts to manipulate are very simple and immediately transparent to (...) humans. Nevertheless, financial regulators increasingly penalize such attempts to manipulate algos. The article explains this as an institutionalization of algo trading, a trading practice which is vulnerable enough to need regulatory protection. (shrink)

A series of recent developments points towards auditing as a promising mechanism to bridge the gap between principles and practice in AI ethics. Building on ongoing discussions concerning ethics-based auditing, we offer three contributions. First, we argue that ethics-based auditing can improve the quality of decision making, increase user satisfaction, unlock growth potential, enable law-making, and relieve human suffering. Second, we highlight current best practices to support the design and implementation of ethics-based auditing: To be feasible and effective, ethics-based auditing (...) should take the form of a continuous and constructive process, approach ethical alignment from a system perspective, and be aligned with public policies and incentives for ethically desirable behaviour. Third, we identify and discuss the constraints associated with ethics-based auditing. Only by understanding and accounting for these constraints can ethics-based auditing facilitate ethical alignment of AI, while enabling society to reap the full economic and social benefits of automation. (shrink)

Climate change mitigation has become a paradigm case both for externalities in general and for the game-theoretic model of the Tragedy of the Commons (ToC) in particular. This situation is worrying, as we have reasons to suspect that some models in the social sciences are apt to be performative to the extent that they can become self-fulfilling prophecies. Framing climate change mitigation as a hardly solvable coordination problem may force us into a worse situation, by changing real-world behaviour to fit (...) our model, rather than the other way around. But while this problem of the performativity of the ToC has been noted in a recent paper in this journal by Matthew Kopec, his proposed strategies for dealing with their self-fulfilling nature fall short of providing an adequate solution. Instead of relying on the idea that modelling assumptions are always strictly speaking false, this paper shows that the problem may be better framed as a problem of underdetermination between competing explanations. Our goal here is to provide a framework for choosing between this set of competing models that allows us to avoid a ‘Russian Roulette’-like situation in which we gamble with existential risk. (shrink)

A series of recent developments points towards auditing as a promising mechanism to bridge the gap between principles and practice in AI ethics. Building on ongoing discussions concerning ethics-based auditing, we offer three contributions. First, we argue that ethics-based auditing can improve the quality of decision making, increase user satisfaction, unlock growth potential, enable law-making, and relieve human suffering. Second, we highlight current best practices to support the design and implementation of ethics-based auditing: To be feasible and effective, ethics-based auditing (...) should take the form of a continuous and constructive process, approach ethical alignment from a system perspective, and be aligned with public policies and incentives for ethically desirable behaviour. Third, we identify and discuss the constraints associated with ethics-based auditing. Only by understanding and accounting for these constraints can ethics-based auditing facilitate ethical alignment of AI, while enabling society to reap the full economic and social benefits of automation. (shrink)

Recent advancements in artificial intelligence have fueled widespread academic discourse on the ethics of AI within and across a diverse set of disciplines. One notable subfield of AI ethics is machine ethics, which seeks to implement ethical considerations into AI systems. However, since different research efforts within machine ethics have discipline-specific concepts, practices, and goals, the resulting body of work is pestered with conflict and confusion as opposed to fruitful synergies. The aim of this paper is to explore ways to (...) alleviate these issues, both on a practical and theoretical level of analysis. First, we describe two approaches to machine ethics: the philosophical approach and the engineering approach and show how tensions between the two arise due to discipline specific practices and aims. Using the concept of disciplinary capture, we then discuss potential promises and pitfalls to cross-disciplinary collaboration. Drawing on recent work in philosophy of science, we finally describe how metacognitive scaffolds can be used to avoid epistemological obstacles and foster innovative collaboration in AI ethics in general and machine ethics in particular. (shrink)

Virtue ethics has many times been suggested as a promising recipe for the construction of artificial moral agents due to its emphasis on moral character and learning. However, given the complex nature of the theory, hardly any work has de facto attempted to implement the core tenets of virtue ethics in moral machines. The main goal of this paper is to demonstrate how virtue ethics can be taken all the way from theory to machine implementation. To achieve this goal, we (...) critically explore the possibilities and challenges for virtue ethics from a computational perspective. Drawing on previous conceptual and technical work, we outline a version of artificial virtue based on moral functionalism, connectionist bottom–up learning, and eudaimonic reward. We then describe how core features of the outlined theory can be interpreted in terms of functionality, which in turn informs the design of components necessary for virtuous cognition. Finally, we present a comprehensive framework for the technical development of artificial virtuous agents and discuss how they can be implemented in moral environments. (shrink)

In this new book, Ulrich Beck develops his now widely used concepts of second modernity, risk society and reflexive sociology into a radical new sociological ...

Important decisions that impact humans lives, livelihoods, and the natural environment are increasingly being automated. Delegating tasks to so-called automated decision-making systems can improve efficiency and enable new solutions. However, these benefits are coupled with ethical challenges. For example, ADMS may produce discriminatory outcomes, violate individual privacy, and undermine human self-determination. New governance mechanisms are thus needed that help organisations design and deploy ADMS in ways that are ethical, while enabling society to reap the full economic and social benefits of (...) automation. In this article, we consider the feasibility and efficacy of ethics-based auditing as a governance mechanism that allows organisations to validate claims made about their ADMS. Building on previous work, we define EBA as a structured process whereby an entity’s present or past behaviour is assessed for consistency with relevant principles or norms. We then offer three contributions to the existing literature. First, we provide a theoretical explanation of how EBA can contribute to good governance by promoting procedural regularity and transparency. Second, we propose seven criteria for how to design and implement EBA procedures successfully. Third, we identify and discuss the conceptual, technical, social, economic, organisational, and institutional constraints associated with EBA. We conclude that EBA should be considered an integral component of multifaced approaches to managing the ethical risks posed by ADMS. (shrink)

Cognitive neuroscience aspires to explain how the brain produces conscious states. Many people think this aspiration is threatened by the subjective nature of introspective reports, as well as by certain philosophical arguments. We propose that good neuroscientific explanations of conscious states can consolidate an interpretation of introspective reports, in spite of their subjective nature. This is because the relative quality of explanations can be evaluated on independent, methodological grounds. To illustrate, we review studies that suggest that aspects of the feeling (...) of being in control of one's bodily movement can be explained in terms of the complex and surprising way the brain predicts movement. This is a modest type of functional, contrastive explanation. Though we do not refute the threatening philosophical arguments, we show that they do not apply to this type of explanation. (shrink)

By assembling authors with a wide range of different disciplinary backgrounds, from philosophy, literature, political science, sociology to medical anthropology ...

The article is an introduction to a special section in TCS on the work of Niklas Luhmann. The first part of the article provides a general introduction to Luhmann's work with an emphasis on the basic elements of Luhmann's general systems theory, in particular Luhmann's notions of autopoiesis and meaning, and the traditions on which it is based. The second part of the text is a presentation of the articles in the special section.

I discuss an influential argument put forward by Joshua Hatherley. Drawing on influential philosophical accounts of inter-personal trust, Hatherley claims that medical Artificial Intelligence is capable of being reliable, but not trustworthy. Furthermore, Hatherley argues that trust generates moral obligations on behalf of the trustee. For instance, when a patient trusts a clinician, it generates certain moral obligations on behalf of the clinician for her to do what she is entrusted to do. I make three objections to Hatherley’s claims: (1) (...) At least one philosophical account of inter-agent trust implies that medical AI is capable of being trustworthy. (2) Even if this account should ultimately be rejected, it does not matter much because what we care mostly about is that medical AI is reliable. (3) It is false that trust in itself generates moral obligations on behalf of the trustee. -/- . (shrink)

This article argues that new sites of knowledge production, increasingly cultivated by the mass media, are threatening the role of academics and universities as traditional sources of expertise. Drawing upon the conceptual categories of Pierre Bourdieu, the article suggests an alternative way of understanding this ‚crisis of legitimacy’.

Excerpt from Wissen, Glaube und Ahndung Ich habe an; einem andern Orte, reinhold Fichte und Schelling 1, ]i den; f_unt'e1{s chied des arbeit Ma1en platonisehen'nogrnatisrnugx und deanfleiesigen; Kriticiemus 511159in hier - mu ichbemmv. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the (...) aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works. (shrink)

In this paper, we argue that there is at least a pro tanto reason to favor the control account of the right to privacy over the access account of the right to privacy. This conclusion is of interest due to its relevance for contemporary discussions related to surveillance policies. We discuss several ways in which the two accounts of the right to privacy can be improved significantly by making minor adjustments to their respective definitions. We then test the improved versions (...) of the two accounts on a test case, to see which account best explains the violation that occurs in the case. The test turns out in favor of the control account. (shrink)

It is common in moral philosophy to test the validity of moral principles by proposing counter-examples in the form of cases where the application of the principle does not give the conclusion we intuitively find valid. These cases are often imaginary and sometimes rather ‘outlandish’, involving ray guns, non-existent creatures, etc. I discuss whether we can test moral principles with the help of outlandish cases, or if only realistic cases are admissible. I consider two types of argument against outlandish cases: (...) 1) Since moral principles are meant for guiding action in this world, cases drawn from other worlds are irrelevant. 2) We lack the capacity to apply our intuitive moral competence to outlandish cases. I argue that while the first approach is importantly flawed, the second approach is plausible, not because our moral competence per se is limited to cases from this world, but because we lack the capacity to imagine outlandish cases, and we cannot apply our moral competence to a case we fail to imagine properly. (shrink)

Berichte zur Wissenschaftsgeschichte, Volume 45, Issue 1-2, Page 87-111, June 2022.

The notion of societal boundaries aims to enhance the debate on planetary boundaries. The focus is on capitalist societies as a heuristic for discussing the expansionary dynamics, power relations, and lock-ins of modern societies that impel highly unsustainable societal relations with nature. While formulating societal boundaries implies a controversial process – based on normative judgments, ethical concerns, and socio-political struggles – it has the potential to offer guidelines for a just, social-ecological transformation.

The proposed European Artificial Intelligence Act (AIA) is the first attempt to elaborate a general legal framework for AI carried out by any major global economy. As such, the AIA is likely to become a point of reference in the larger discourse on how AI systems can (and should) be regulated. In this article, we describe and discuss the two primary enforcement mechanisms proposed in the AIA: the _conformity assessments_ that providers of high-risk AI systems are expected to conduct, and (...) the _post-market monitoring plans_ that providers must establish to document the performance of high-risk AI systems throughout their lifetimes. We argue that the AIA can be interpreted as a proposal to establish a Europe-wide ecosystem for conducting AI auditing, albeit in other words. Our analysis offers two main contributions. First, by describing the enforcement mechanisms included in the AIA in terminology borrowed from existing literature on AI auditing, we help providers of AI systems understand how they can prove adherence to the requirements set out in the AIA in practice. Second, by examining the AIA from an auditing perspective, we seek to provide transferable lessons from previous research about how to refine further the regulatory approach outlined in the AIA. We conclude by highlighting seven aspects of the AIA where amendments (or simply clarifications) would be helpful. These include, above all, the need to translate vague concepts into verifiable criteria and to strengthen the institutional safeguards concerning conformity assessments based on internal checks. (shrink)

Although virtue ethics has repeatedly been proposed as a suitable framework for the development of artificial moral agents, it has been proven difficult to approach from a computational perspective. In this work, we present the first technical implementation of artificial virtuous agents in moral simulations. First, we review previous conceptual and technical work in artificial virtue ethics and describe a functionalistic path to AVAs based on dispositional virtues, bottom-up learning, and top-down eudaimonic reward. We then provide the details of a (...) technical implementation in a moral simulation based on a tragedy of the commons scenario. The experimental results show how the AVAs learn to tackle cooperation problems while exhibiting core features of their theoretical counterpart, including moral character, dispositional virtues, learning from experience, and the pursuit of eudaimonia. Ultimately, we argue that virtue ethics provides a compelling path toward morally excellent machines and that our work provides an important starting point for such endeavors. (shrink)

Der vorliegende Band bietet einen Durchgang durch Hölderlins dichterisches Schaffen und interpretiert zahlreiche Gedichte ausgehend von der Frage, wie sich das Verhältnis von Gott/Mensch/Sprache darin jeweils darstellt. Dieses zeigt sich als ein zunehmend gebrochen-fragiles; in dieser Schwächung kann sich jedoch eine neue Aufmerksamkeit für das Göttliche, das Menschliche und die Sprache entwickeln – in theologischer Diktion: Offenbarung Gottes nicht in einem „Mehr“, sondern in der Zurücknahme einer für den Menschen nicht fassbaren Fülle und im Abschied von fixierten Bildern.

Departing from popular imaginations around artificial intelligence (AI), this article engages in the I in the AI acronym but from perspectives outside of mathematics, computer science and machine learning. When intelligence is attended to here, it most often refers to narrow calculating tasks. This connotation to calculation provides AI an image of scientificity and objectivity, particularly attractive in societies with a pervasive desire for numbers. However, as is increasingly apparent today, when employed in more general areas of our messy socio-cultural (...) realities, AI- powered automated systems often fail or have unintended consequences. This article will contribute to this critique of AI by attending to Nicholas of Cusa and his treatment of intelligence. According to him, intelligence is equally dependent on an ability to handle the unknown as it unfolds in the present moment. This suggests that intelligence is organic which ties Cusa to more contemporary discussions in tech philosophy, neurology, evolutionary biology, and cognitive sciences in which it is argued that intelligence is dependent on having—and acting through—an organic body. Understanding intelligence as organic thus suggests an oxymoronic relationship to artificial. (shrink)

In this paper, I defend what I call the ‘Inference Principle’. This principle holds that if an agent obtains some information legitimately, then the agent can make any inference she wants based on the information, without violating anyone’s right to privacy. This principle is interesting for at least three reasons. First, it constitutes a novel answer to the timely question of whether the widespread use of ‘data analytics’ to infer personal information about individuals is morally permissible. Second, it contradicts what (...) seems to be a common view of inferences’ ability to violate privacy rights. Third, it offers an account of the theoretically underdeveloped issue of what duties are engendered by the moral right to privacy with regard to inferred information. (shrink)