The dominance of agency theory can reduce our collective scope to analyse private equity in all its diversity and depth. We contribute to theorisation of private equity by developing a contrasting perspective that draws on a rich tradition of virtue ethics. In doing so, we juxtapose 'private equity' with 'public good' to develop points of rhetorical and analytical contrast. We develop a typology differentiating various forms of private equity, and focus on the 'take private' form. These takeovers are where private (...) equity funds are used to buy all a firm's publicly listed shares. Take private deals reduce reporting requirements and lessen the amount of public scrutiny a firm comes under. They allow greater control of a firm's assets and resources but also have effects in terms of the wider social fabric. The 'public good' and virtue ethics offer an alternative basis for theorisation of these deals. This provides a needed contrast to accounts of private equity based on agency theory. (shrink)

When looking at a scene, observers feel that they see its entire structure in great detail and can immediately notice any changes in it. However, when brief blank fields are placed between alternating displays of an original and a modified scene, a striking failure of perception is induced: identification of changes becomes extremely difficult, even when changes are large and made repeatedly. Identification is much faster when a verbal cue is provided, showing that poor visibility is not the cause of (...) this difficulty. Identification is also faster for objects mentioned in brief verbal descriptions of the scene. These results support the idea that observers never form a complete, detailed representation of their surroundings. In addition, results also indicate that attention is required to perceive change, and that in the absence of localized motion signals it is guided on the basis of high-level interest. (shrink)

Clark Glymour, Richard Scheines, Peter Spirtes and Kevin Kelly. Discovering Causal Structure: Artifical Intelligence, Philosophy of Science and Statistical Modeling.

Clark Glymour and Kevin T. Kelly. Thoroughly Modern Meno.

Lawrence Kohlberg's Approach to Moral Education presents what the late Lawrence Kohlberg regarded as the definitive statement of his educational theory. Addressing the sociology and social psychology of schooling, the authors propose that school culture become the center of moral education and research. They discuss how schools can develop as just and cohesive communities by involving students in democracy, and they focus on the moral decisions teachers and students face as they democratically resolve problems. As the authors put it: "...we (...) propose an educational renewal of our democratic society.... We have attempted to establish schools that do more than just teach about democratic citizenship, that are themselves democratic societies.". (shrink)

This paper is a study about Philadelphia’s comprehensive user engagement sites (CUESs) as the authors address and examine issues related to the upcoming implementation of a CUES while seeking solutions for its disputed questions and plans. Beginning with the federal drug schedules, the authors visit some of the medical and public health issues vis-à-vis safe injection facilities (SIFs). Insite, a successful Canadian SIF, has been thoroughly researched as it represents a paradigm for which a Philadelphia CUES can expand upon. Also, (...) the existing criticisms against SIFs are revisited while critically unpackaged and responded to in favor of the establishment. In the main section, the authors propose the layout and services of the upcoming CUES, much of which would be in congruent to Vancouver’s Insite. On the other hand, the CUES would be distinct from Insite, as the authors emphasize, in that it will offer an information center run by individuals in recovery and place additional emphasis on early education for young healthcare professionals by providing them a platform to work at the site. The paper will also briefly investigate the implementation of a CUES site under an ethical scope of the Harm Reduction Theory. Lastly, the authors recommend some strategic plans that the Philadelphia City government may consider employing at this crucial stage. (shrink)

Kevin T. Kelly and Clark Glymour. Inductive Inference from Theory-Laden Data.

Kevin T. Kelly, Cory Juhl and Clark Glymour. Reliability, Realism, and Relativism.

One construal of convergent realism is that for each clear question, scientific inquiry eventually answers it. In this paper we adapt the techniques of formal learning theory to determine in a precise manner the circumstances under which this ideal is achievable. In particular, we define two criteria of convergence to the truth on the basis of evidence. The first, which we call EA convergence, demands that the theorist converge to the complete truth "all at once". The second, which we call (...) AE convergence, demands only that for every sentence in the theorist's language, there is a time at which the theorist settles the status of the sentence. The relative difficulties of these criteria are compared for effective and ineffective agents. We then examine in detail how the enrichment of an agent's hypothesis language makes the task of converging to the truth more difficult. In particular, we parametrize first-order languages by predicate and function symbol arity, presence or absence of identity, and quantifier prefix complexity. For nearly each choice of values of these parameters, we determine the senses in which effective and ineffective agents can converge to the complete truth on an arbitrary structure for the language. Finally, we sketch directions in which our learning theoretic setting can be generalized or made more realistic. (shrink)

Mr. A's physician recommends immediate dialysis. However, Mr. A is in the United States illegally, has no family living in the area, and is unemployed. The Emergency Medical Treatment and Labor Act requires the hospital not only to examine Mr. A, but to provide him with any needed stabilizing treatment without considering his lack of insurance coverage or ability to pay. The needed treatment to stabilize Mr. A is dialysis. Therefore, the physician admits him and starts dialysis. But Mr. A (...) will need to continue dialysis indefinitely. Because he has no insurance and is an illegal immigrant, he is not eligible for any outpatient dialysis units. He is also unable to afford any medical treatments. Once Mr. A is stabilized, should he be discharged? His physician and social worker turn to the hospital ethics committee for help. What should Mercy Hospital do? (shrink)

Convergent realists desire scientific methods that converge reliably to informative, true theories over a wide range of theoretical possibilities. Much attention has been paid to the problem of induction from quantifier-free data. In this paper, we employ the techniques of formal learning theory and model theory to explore the reliable inference of theories from data containing alternating quantifiers. We obtain a hierarchy of inductive problems depending on the quantifier prefix complexity of the formulas that constitute the data, and we provide (...) bounds relating the quantifier prefix complexity of the data to the quantifier prefix complexity of the theories that can be reliably inferred from such data without background knowledge. We also examine the question whether there are theories with mixed quantifiers that can be reliably inferred with closed, universal formulas in the data, but not without. (shrink)

Accountants confronted with ethical dilemmas are expected to comply with their ethical guide or seek advice from their professional body. This study of Chartered Accountants in Ireland records their views on the usefulness of a Code of Ethics, the efficacy of their professional Institute and the need for ethics courses in Continuing Professional Development. Peter Clarke is a lecturer in the Department of Accountancy, University College Dublin, Dublin 4; Nancy Hill and Kevin Stevens are members of the School of (...) Accountancy, DePaul University, Chicago. (shrink)

Kevin T. Kelly and Clark Glymour. Why Bayesian Confirmation Does Not Capture the Logic of Scientific Justification.

Observers inspected normal, high quality color displays of everyday visual scenes while their eye movements were recorded. A large display change occurred each time an eye blink occurred. Display changes could either involve "Central Interest" or "Marginal Interest" locations, as determined from descriptions obtained from independent judges in a prior pilot experiment. Visual salience, as determined by luminance, color, and position of the Central and Marginal interest changes were equalized. -/- The results obtained were very similar to those obtained in (...) prior experiments showing failure to detect changes occurring simultaneously with saccades, flicker, or “mudsplashes” in the visual scene: Many changes were very hard to detect, and Marginal Interest changes were harder to detect than Central Interest changes. -/- Analysis of eye movements showed, as expected, that the probability of detecting a change depended on the eye’s distance from the change location. However a surprising finding was that both for Central and Marginal Interest changes, evenwhen observers were directly fixating the change locations (within 1 degree),more than 40% of the time they still failed to see the changes. It seems that looking at something does not guarantee you “ see” it. (shrink)

Change-blindness occurs when large changes are missed under natural viewing conditions because they occur simultaneously with a brief visual disruption, perhaps caused by an eye movement, a flicker, a blink, or a camera cut in a film sequence. We have found that this can occur even when the disruption does not cover or obscure the changes. When a few small, high-contrast shapes are briefly spattered over a picture, like mudsplashes on a car windscreen, large changes can be made simultaneously in (...) the scene without being noticed. (shrink)

There is a popular view that the alleged meaning shifts resulting from scientific revolutions are somehow incompatible with the formulation of general norms for scientific inquiry. We construct methods that can be shown to be maximally reliable at getting to the truth when the truth changes in response to the state of the scientist or his society.

[I]t would be absurd for us to hope that we can know more of any object than belongs to the possible experience of it or lay claim to the least knowledge of how anything not assumed to be an object of possible experience is determined according to the constitution that it has in itself.* * *It would be… a still greater absurdity if we conceded no things in themselves or declared our experience to be the only possible mode of knowing (...) things….[Kant, Prolegomena to Any Future Metaphysics]A certain line of skepticism about normative epistemology has become more or less standard in contemporary philosophy of science. It runs like this.Scientific method is a matter of choosing among theories on the basis of evidence.But in “conceptual revolutions”, meaning, truth, and even what counts as observable can all be theory-relative. (shrink)

Numerous reports have noted decreasing numbers of antibiotic approvals. To determine the context for this decline, we examined all new molecule entities (NMEs) and new biologic licenses (NBLs) approved by the FDA from 1980–2009, and compared approval rates of the 61 approved antibiotics to trends in other drug classes. We also tracked withdrawals of approved drugs and found more withdrawals for antibiotics than other drug classes. After adjusting for drugs subsequently withdrawn, the record for antibiotic innovation is less dire than (...) previously reported. We also report problems with the quality of the approved antibiotics studied. Future policies providing incentives for new antibiotic development should not be based on simple numerical targets and key provisions should ensure appropriate quality as well as quantity of antibiotic drug innovation. (shrink)

Antibiotic use triggers evolutionary and ecological responses from bacteria, leading to antibiotic resistance and harmful patient outcomes. Two complementary strategies support long-term antibiotic effectiveness: conservation of existing therapies and production of novel antibiotics. Conservation encompasses infection control, antibiotic stewardship, and other public health interventions to prevent infection, which reduce antibiotic demand. Production of new antibiotics allows physicians to replace existing drugs rendered less effective by resistance.In recent years, physicians and policymakers have raised concerns about the pipeline for new antibiotics, pointing (...) to a decline in the number of antibiotics approved since the 1980s. This trend has been attributed to high research and development costs, low reimbursement for antibiotics, and regulatory standards for review and approval. Professional societies and researchers around the world have called for renewed emphasis on antimicrobial stewardship, while also supporting antibiotic research and development through grants, changes to intellectual property laws to extend market exclusivity periods, and modification of premarket testing regulations to reduce antibiotic development time and expenses. (shrink)

Technoscientific ambitions for perfecting human-like machines, by advancing state-of-the-art neuromorphic architectures and cognitive computing, may end in ironic regret without pondering the humanness of fallible artificial non-normative personalities. Self-organizing artificial personalities individualize machine performance and identity through fuzzy conscientiousness, emotionality, extraversion/introversion, and other traits, rendering insights into technology-assisted human evolution, robot ethology/pedagogy, and best practices against unwanted autonomous machine behavior.

Karl Rahner and Hans Urs von Balthasar pushed back in various ways against the tide of historical criticism in the twentieth century. On the one hand Rahner wished to distance theology from biblical revelation in his turn towards the subject. In so doing, he sought to preserve theology from the rising tide of skepticism resulting from contemporary exegesis. His philosophical system left little room for historical revelation because of a fixation on individual revelation. Balthasar, on the other hand, questioned whether (...) the Rahnerian system strips Christianity of the need to bear witness to the world, and relativizes Christ’s Incarnation. Balthasar saw the indestructible unity of the form (gestalt) presented to humanity in the revelation of Old and New Testaments as an antidote to the fragmentation within biblical studies. Because of gestalt, Scripture is more than a mere sum of its parts. For Balthasar, the faith of the exegete is an irreplaceable requisite for accurate hermeneutics. Dispensing with the revelatory character of the Scriptures would also be unscientific; it is an unsuitable approach to a text that calls one to bear witness. Balthasar thus correctly called for a theological hermeneutic whereby the faithful exegete recognizes the unity of the scriptural account. (shrink)

Emerging cybertechnologies, such as social digibots, bend epistemological conventions of life and culture already complicated by human and animal relationships. Virtually-augmented niches of machines and organic life promise new free-energy-governed selection of intelligent digital life. These provocative eco-evolutionary contexts demand a theory of (natural and artificial) minds to characterize and validate the immersive social phenomena universally-shaping cultural affordances.

Organizational leaders are increasingly emphasizing a stakeholder perspective in order to address concerns about business ethics. This study examined the choices of 94 groups in the context of a business decision-making simulation to determine how specific actions and communications can facilitate the consideration of different stakeholder perspectives. In particular, we examined whether generally framing the business situation as one involving diverse stakeholders versus a primarily profit-driven operation (referred to as framing), and whether specific suggestions that participants consider the concerns of (...) stakeholders versus stockholders in maximizing the value of the firm (referred to as vision priming), would influence group choices and decision outcomes. We tested four experimental conditions against a control in a 2 × 2 experimental design to determine the effects that group choices had on decision outcomes when groups were exposed to stakeholder versus stockholder decision framing and stakeholder versus stockholder vision priming. The results revealed that the consistent conditions outperformed the control condition and that vision priming has a greater impact on decision outcomes than decision framing. (shrink)

Accountants confronted with ethical dilemmas are expected to comply with their ethical guide or seek advice from their professional body. This study of Chartered Accountants in Ireland records their views on the usefulness of a Code of Ethics, the efficacy of their professional Institute and the need for ethics courses in Continuing Professional Development. Peter Clarke is a lecturer in the Department of Accountancy, University College Dublin, Dublin 4; Nancy Hill and Kevin Stevens are members of the School of (...) Accountancy, DePaul University, Chicago. (shrink)

Eight scholars answered the call printed in both issues of volume 19 of The Owl to “bone up for Loyola” by attending a week-long seminar devoted to the study of Hegel’s Science of Logic. The seminar was held at Windy Pine, a summer retreat of the Trent University Canadian Studies Program, on Kushog Lake in Ontario’s Haliburton Highlands. A half dozen rustic cabins lining a rocky, wooded cove provided a delightful setting for the exercise of both mind and body. The (...) best of Hegel, along with more empirical events such as enjoying fine food, swimming, canoeing, fishing, hiking, and long evenings of pleasant conversation left all of the participants wishing that Hegel had written a sequel. (shrink)

Communication barriers long-associated with ideographs, including combinatorial grapholinguistic complexity, computational encoding–decoding complexity, and technological rendering and deployment, become trivialized through advancements in interoperable smart mobile digital devices. Such technologies impart unprecedented extended-reality user hazards only mitigated by unprecedented colloquial and bureaucratic societal norms. Digital age norms thus influence natural ideographic language origins and evolution in ways novel to human history.

Some neurotropic enteroviruses hijack Trojan horse/raft commensal gut bacteria to render devastating biomimicking cryptic attacks on human/animal hosts. Such virus-microbe interactions manipulate hosts’ gut-brain axes with accompanying infection-cycle-optimizing central nervous system disturbances, including severe neurodevelopmental, neuromotor, and neuropsychiatric conditions. Co-opted bacteria thus indirectly influence host health, development, behavior, and mind as possible “fair-weather-friend” symbionts, switching from commensal to context-dependent pathogen-like strategies benefiting gut-bacteria fitness.

Microbes perfect social interactions with intuitive logics and goal-directed reciprocity. These multilevel, cognition-resembling adaptations in Dictyostelid cellular molds enable individual-to-group viability through public/private bacterial farming and dynamic marketspaces. Like humans and animals, Dictyostelid livestock-ownership depends on environmental sensing, cooperation, and competition. Moreover, social-norm policing of cosmopolitan colonies coordinates farmer decisions, phenotypes, and ownership identities with bacteria herding, privatization, and consumption.

For many, the case of the Exxon Valdez oil spill has become a symbol of unethical corporate behavior. Had Exxon’s managers not callously pursued their own interests at the expense of the environment and other parties, the accident would not have happened. In this paper, we (1) present a short case study of the Valdez incident; (2) argue that many analyses of the case either ignore or fail to give sufficient weight to the uncertainties managers often face when they make (...) decisions; and (3) propose a framework for moral management grounded in principles of communicative ethics, moral dialogue, and in the non-traditional ideas of many current management and behavioral decision theorists. From this view, the moral manager is not expected to know the “correct” answer to every ethical issue, but rather to participate responsibly in an open dialogue with other interested parties. (shrink)

When brief blank fields are placed between alternating displays of an original and a modified scene, a striking failure of perception is induced: the changes become extremely difficult to notice, even when they are large, presented repeatedly, and the observer expects them to occur (Rensink, O'Regan, & Clark, 1997). To determine the mechanisms behind this induced "change blindness", four experiments examine its dependence on initial preview and on the nature of the interruptions used. Results support the proposal that representations (...) at the early stages of visual processing are highly volatile, and that focused attention is needed to stabilize them sufficiently to support the perception of change. (shrink)

For many, the case of the Exxon Valdez oil spill has become a symbol of unethical corporate behavior. Had Exxon’s managers not callously pursued their own interests at the expense of the environment and other parties, the accident would not have happened. In this paper, we (1) present a short case study of the Valdez incident; (2) argue that many analyses of the case either ignore or fail to give sufficient weight to the uncertainties managers often face when they make (...) decisions; and (3) propose a framework for moral management grounded in principles of communicative ethics, moral dialogue, and in the non-traditional ideas of many current management and behavioral decision theorists. From this view, the moral manager is not expected to know the “correct” answer to every ethical issue, but rather to participate responsibly in an open dialogue with other interested parties. (shrink)