The capital approach is frequently used to model sustainability. A development is deemed to be sustainable when capital is not reduced. There are different definitions of sustainability, based on whether or not they allow that different forms of capital may be substituted for each other. A development that allows for the substitution of different forms of capital is called weakly sustainable. This article shows that in a risky world and a risk-averse society even under the (...) assumptions of weak sustainability the circumstances under which different forms of capital may be substituted are limited. This is due to the risk-reducing effect of diversification. Using Modern Portfolio Theory this article shows under which conditions substitution of different forms of capital increases risk for future generations. (shrink)

This research aimed to explore the impact of organizational commitment on turnover intention of substitute teachers in public primary schools in Xuzhou, and applied psychological capital as a mediator variable to establish a research model. A questionnaire was conducted with 400 substitute teachers using convenience sampling. The results show that organizational commitment has a negative yet significant effect on turnover intention. It also shows positive impact on psychological capital. Furthermore, psychological capital is shown to negatively impact turnover (...) intention, while having a mediating effect between organizational commitment and turnover intention. (shrink)

Social capital can serve as informal governance in weak investor-protection regimes. Using hand-collected data on entrepreneurs’ political connections and firm ownership, we construct several original measures of social capital and examine their effect on the performance of entrepreneurial firms in China after their initial public offerings. Political connections or a high percentage of external investors tend to enhance firm performance, but intragroup related-party transactions commonly lead to performance decline. These forms of social capital have a strong influence (...) on the performance of Chinese firms, whereas formal governance variables such as board size or board independence have little effect. Although social capital may serve as an informal governance mechanism and effectively substitute for formal governance mechanisms in an emerging market, this role of social capital raises several ethical concerns, notably the development of rent-seeking and crony capitalism. (shrink)

We examine the influence of social capital in the municipal bond market. Defined as the norms and networks that encourage cooperation, social capital is a social construct which captures a region’s level of altruism, trustworthiness, and propensity to honor obligations. We expect that municipalities with high social capital are more trustworthy and likely to honor their debt obligations, which will result in lower bond yields. Our findings confirm that the bonds issued by municipalities located in high social (...) capital counties exhibit lower yields compared to the municipalities located in low social capital counties. Our findings are also supported by bond prices in the secondary market, which shows that bonds from the municipalities located in high social capital regions have higher prices. Additional tests reveal that the influence of social capital is stronger for general obligation bonds, suggesting that social capital matters more for bonds where the willingness of municipalities to pay taxes is an important factor. Lastly, we document that the bonds of municipalities in high social capital areas are less likely to have insurance, suggesting that social capital may act as a substitute for bond insurance. (shrink)

In recent years, the microfinance industry has received a substantial amount of cross-border funding from both public and private sources. This funding reflects the increasing interest in microfinance as part of a more general trend towards socially responsible investments. In order to be able to secure sustained interest from these investors, it is important that the microfinance industry can show evidence of its contribution to reducing poverty at the bottom of the pyramid. For this, it is crucial to understand under (...) what conditions microfinance institutions are able to reduce poverty. This paper contributes to this discussion by investigating the relationship between the extent to which social capital formation is facilitated within different societies and the financial and social performance of MFIs. This focus on social capital formation is important, because in many cases MFIs use group loans with joint liability to incentivize asset-poor borrowers to substitute the lack of physical collateral by their social capital. Hence, the success of a large part of the loan relationship between MFIs and their borrowers depends on the social capital those borrowers can bring into the contract. We carry out a cross-country analysis on a dataset containing 100 countries and identify different social dimensions as proxies for how easy social capital can be developed in different countries. We hypothesize that microfinance is more successful, both in terms of their financial and social aims, in societies that are more conducive to the development of social capital. Our empirical results support our hypothesis. (shrink)

Climate change policy decisions are inescapably intertwined with future generations. Even if all carbon dioxide emissions were to be stopped today, most aspects of climate change would persist for hundreds of years, thus inevitably raising questions of intergenerational justice and sustainability. -/- The chapter begins with a short overview of discount rate debate in climate economics, followed by the observation that discounting implicitly makes the assumption that natural capital is always substitutable with man-made capital. The chapter explains why (...) non-substitutability matters if we are to take intergenerational justice seriously and invest aptly in mitigation. Non-substitutability simply implies that there are some forms of capital that cannot be substituted by another, and so consumption of one cannot be compensated with additional stocks of the other. The non-substitutability of critical natural capital can be defended without empirical data about preferences or the need to view the environment as a superior good, and the argument is presented through the language of keeping options open. -/- Those alive today make decisions about what natural capital to use and what to save for future. These choices are often represented as different points in a continuum of sustainability: weak sustainability is associated with a high degree of substitutability and therefore a lot of flexibility over what capital to consume, whereas strong sustainability is more stringent on substitutability. While it may be that in economical understanding weak and strong sustainability collapse into one another, philosophically the emphasis is slightly different. The chapter discusses how normative sustainability can be supported without ignoring opportunity costs and trade-offs. (shrink)

The 'Discussion' section of this issue contains the following responses to Wilfred Beckerman's article 'Sustainable Development: Is it a Useful Concept?' Environmental Values 3,3 (1994): 191-209. Herman Daly, 'On Wilfred Beckerman's Critique of Sustainable Development'; Michael Jacobs, 'Sustainable Development, Capital Substitution and Humility: A Response to Beckerman'; and Henryk Skolimowski, 'In Defence of Sustainable Development'. These criticisms are answered by Beckerman in Environmental Values 4,2.

Basic income and basic capital are two common ideas for redesigning distribution. Basic income provides people with a regular income from government. Basic capital provides people with a lump-sum grant. An important part of scholarly debate concentrates on the merits of basic income versus basic capital. This paper claims that these debates are too narrow. First, current debates overlook the way that a chief inspiration for both ideas, Thomas Paine, wanted basic capital and basic income to (...) be complements not substitutes. Second, it is more instructive to compare basic capital or basic income with a wider set of alternatives than with each other. Widening the debates would benefit the discussion of a basic capital or basic income. (shrink)

The 'Discussion' section of this issue contains the following responses to Wilfred Beckerman's article 'Sustainable Development: Is it a Useful Concept?' Environmental Values 3,3 (1994): 191-209. Herman Daly, 'On Wilfred Beckerman's Critique of Sustainable Development'; Michael Jacobs, 'Sustainable Development, Capital Substitution and Humility: A Response to Beckerman'; and Henryk Skolimowski, 'In Defence of Sustainable Development'. These criticisms are answered by Beckerman in Environmental Values 4,2.

Ecological economics is an interdisciplinary science that is primarily concerned with developing interventions to achieve sustainable ecological and economic systems. While ecological economists have, over the last few decades, made various empirical, theoretical, and conceptual advancements, there is one concept in particular that remains subject to confusion: critical natural capital. While critical natural capital denotes parts of the environment that are essential for the continued existence of our species, the meaning of terms commonly associated with this concept, such (...) as ‘non-substitutable’ and ‘impossible to substitute,’ require a clearer formulation then they tend to receive. With the help of equations and graphs, this article develops new definite account of critical natural capital that makes explicit what it means for objective environmental conditions to be essential for continued existence. The second main part of this article turns to the question of formally modeling the priority of conserving critical natural capital. While some ecological economists have maintained that, beyond a certain threshold, critical natural capital possesses absolute infinite value, absolute infinite utility models encounter significant problems. This article shows that a relative infinite utility model provides a better way to model the priority of conserving critical natural capital. (shrink)

This dissertation undertakes a philosophical analysis of “natural capital” and argues that this concept has prompted economists to view Nature in a radically novel manner. Formerly, economists referred to Nature and natural products as a collection of inert materials to be drawn upon in isolation and then rearranged by human agents to produce commodities. More recently, nature is depicted as a collection of active, modifiable, and economically valuable processes, often construed as ecosystems that produce marketable goods and services gratis. (...) Nature is depicted as consisting of various unproduced mechanisms or “natural machines” that are first discovered and then channeled so as to serve human ends. In short, nature as an ideal is a kind of garden that is characterized by natural objects purposefully arranged by intentional human agents. This dissertation first lays out working definitions of the key terms, such as capital and Nature, and then traces the historical roots of natural capital in the writings of eminent classical political economists, such as Adam Smith, John Stuart Mill, and Karl Marx. I then examine the question of substitutes for “critical natural capital”, and argue that the preservation paradox is warranted: no one can restore or preserve a part of Nature without turning it into an artifact. Following the recent work of Debra Satz and Michael Sandel, I finish my dissertation by situating the question of natural capital in the broader context of whether some goods should not be for sale, particularly those I define as Basic Ecological Goods. (shrink)

The 'Discussion' section of this issue contains the following responses to Wilfred Beckerman's article 'Sustainable Development: Is it a Useful Concept?' Environmental Values 3,3 (1994): 191-209. Herman Daly, 'On Wilfred Beckerman's Critique of Sustainable Development'; Michael Jacobs, 'Sustainable Development, Capital Substitution and Humility: A Response to Beckerman'; and Henryk Skolimowski, 'In Defence of Sustainable Development'. These criticisms are answered by Beckerman in Environmental Values 4,2.

The 'Discussion' section of this issue contains the following responses to Wilfred Beckerman's article 'Sustainable Development: Is it a Useful Concept?' Environmental Values 3,3 (1994): 191-209. Herman Daly, 'On Wilfred Beckerman's Critique of Sustainable Development'; Michael Jacobs, 'Sustainable Development, Capital Substitution and Humility: A Response to Beckerman'; and Henryk Skolimowski, 'In Defence of Sustainable Development'. These criticisms are answered by Beckerman in Environmental Values 4,2.

This paper applies Israel Kirzner’s theory of entrepreneurship and the Austrian theory of capital to the theory of the firm. In particular, it explores why some firms are better able to react to exogenous change than others, especially when that change is negative. The argument is that firms that have structures of physical and human capital that are more “flexible” are better able to adapt to exogenous change. In this context, flexibility is understood in terms of Lachmann’s notions (...) of the substituability and complementarity of capital. Flexible capital structures are ones in which elements can be more easily substituted for. Such flexibility carries a trade-off in terms of lost productivity from using less specific capital, but it is argued that this trade-off might be worthwhile in an environment of heightened structural uncertainty.Cet article applique la théorie entrepreneuriale d’Israel Kirzner et la théorie Autrichienne du capital à la théorie de la firme. Plus particulièrement, il explore pourquoi certaines entreprises sont plus à même de réagir face à des changements exogènes que d’autres, spécialement quand ces changements sont négatifs. L’argument est que les firmes qui possèdent des structures de capital physique et humain plus “flexibles” sont plus aptes à s’adapter à des changements exogènes. Dans ce contexte, la flexibilité est comprise au sens lachmanien de substituabilité et de complémentarité du capital. Les structures de capital flexibles sont celles dans lesquelles la substitution entre les composantes est plus aisée. Une telle flexibilité entraîne un compromis en termes de perte de productivité découlant d’un usage de capitaux moins spécifiques, mais il est suggéré que ce compromis en vaut la peine dans un environnement encore plus structurellement incertain. (shrink)

As the aging population problem intensifies, many emerging economies are caught in labor shortage and rising labor costs, thus improving the corporate labor investment efficiency is crucial for these countries. In this context, we take China as an example to explore the influence of the current booming digital finance on corporate LIE. This paper, which enriches the existing literature, is one of the few studies that explores the link between macroeconomic policies and firms’ LIE. Our research adopts the baseline methodology (...) of ordinary least squares regression, and the data comprise 23,503 observations for Chinese A-share listed businesses from 2011 to 2020. In addition, we use fixed effects regression, instrumental variables method and substitution of independent variables to deal with endogeneity and test the robustness. The outcomes suggest that DF may significantly increase corporate LIE. Further results from the path mechanism study suggest that DF could alleviate financing constraints and optimize human capital structure, both of which have a favorable effect on the LIE. Last but not least, the heterogeneity results imply that DF can more effectively encourage LIE of firms in economically underdeveloped regions and of private nature. The study recommends that emerging economies should pay attention to strengthening regulation to avoid financial risks while vigorously promoting DF. In addition, enhancing the level of human capital and optimizing human capital allocation are also essential. (shrink)

The question of the Hegelian heritage within the Marxian dialectic is a classic one that is still an open one, after more than a century of fruitful and various inquiry. In order to tackle the issue from a new perspective, we must first distinguish between, on the one hand, the subjective dialectic, or logic of Marxian thought, which is clearly inherited from Hegel, and, on the other hand, the objective dialectic, or logic of reality itself, which Marx arrived at by (...) way of a frontal opposition to his master, even as he took up the latter’s “rational kernel” in order to invert it, substituting for Hegel’s idealist philosophy of creation a materialist conception of production and replacing the logic of negativity by a logic of produ-activity. Thus conceptualized by Marx, the gnoseological dialectic and dialectical materialism interact rationally. This enables us to renew the foundations of a dialectical materialism. Unrelated to stalinist « diamat », such a conception is well equipped to demonstrate its effectiveness for the knowledge and understanding of realities, both in terms of their irreducible material singularity, apprehended according to their constitutive historicity, and as elements of a certain real totality which is in process. (shrink)

No net loss approaches to environmental policy claim that policy should maintain aggregate levels of natural capital. Substitutability between natural assets allows losses in some assets to be compensated for by gains in others while maintaining overall levels of natural capital. This paper argues that significant goods that matter to people’s well-being will be lost through a policy of no net loss. The concepts of natural capital and ecosystem services that underpin the no net loss approach to (...) environmental policy cannot capture important dimensions of value that are central to human well-being. (shrink)

The concepts of social capital are important in improving the quality of life. However, the effects of social capital accumulated in the economic, social and political spheres can be both positive and negative. Article brings the specificity of trust as a key variety of social capital and it's status among the Poles. Indicated are also differences between the suspicion, mistrust and functional substitutes for trust. The whole is complemented by breakdown of bottom-up methods of social capital (...) building. ** Koncepcje kapitału społecznego mają istotne znaczenie w podnoszeniu jakości życia. Niemniej skutki oddziaływania nagromadzonego kapitału społecznego w sferach ekonomicznej, społecznej i politycznej mogą być zarówno pozytywne, jak i negatywne. Artykuł przybliża specyfikę zaufania jako kluczowej odmiany kapitału społecznego i jego stan wśród Polaków. Wskazane zostają też różnice między nieufnością, brakiem zaufania i funkcjonalnymi substytutami zaufania. Całość uzupełnia zestawienie oddolnych metod budowania kapitału społecznego. (shrink)

This article considers the status and meaning of the category of value in the wake of the financial crisis that began in 2007. I argue that value is best understood as a form of social wealth constituted by a spatially and temporally generalising social relation of equivalence and substitutability under, and specific to, capitalism ‐ and that a categorial focus shows that despite massive ‘devaluations’, the value-relation is not itself in crisis. On the contrary, it is running at near full (...) capacity, erasing the difference between ‘financial’ and ‘real’ capitals, values, and assets. Consequently, attempts to understand the crisis that rely on material distinctions between ‘real’ and ‘fictitious’ values and capitals overstate the extent and depth of the crisis for capital, and underestimate the virtually uninterrupted consolidation of the rule of the value, i.e. the territorial and historical imperative of equivalence and substitutability. (shrink)

This article concentrates on the Jacobs and Daly criticisms (Environmental Values, Spring 1994) of my earlier article in the same journal (Autumn 1994) criticising the concept of 'sustainable development'. Daly and Jacobs agreed with my criticisms of 'weak' sustainability, but defended 'strong' sustainability on the grounds that natural and manmade capital were 'complements' in the productive process and that economists are wrong, therefore, in assuming that they are infinitely substitutable. This article maintains that they are confusing different concepts of (...) 'complementarity' and 'substitutability'. It is also argued that, in fact, they do both sell crucial passes in their defence of strong sustainability without providing any clear criteria for their abandonment of it in certain cases. It is also denied that the fact that environmental services may provide different satisfactions from those obtained from other goods and services elevates it to the status of some over-riding moral value, or that discounting future costs and benefits is 'unfair' to future generations. (shrink)

The essential for building the society – the category of social capital, becomes a base for educational politics in Poland in new structural conditions after 1989. Author reminding ideological and axiological assumption our oppositional environments from period of socialism, which within the confines of social movement „Solidarity’80” designed educational solutions, that should be introduced in free country. First of all, there was an idea of decentralization the school system and bringing autonomy of school. The most important was the possibility (...) of creating the democratic process of social adaptation for new generation. But surprised our freedom, we forgotten about fundamental principles. In this case actually we have: an agreement for simulative educational changes, substitute ideological centralism for pseudo-democracy, artificial autonomy of school, and manipulating teachers environment by authorities of education departments each and every political party. (shrink)

‘Aristocratic’ transactional relationships are widespread in Nigerian universities. Nigerian cultures positively sanction repressive sexual activities among single unmarried adolescents until the wedding night. Modernity has confronted this cultural prescription, as youths, particularly girls, engage in transactional exchange in different contexts. However, the literature on transactional sex in the ivory towers is not rich enough on client recruitment and management among female undergraduates in Nigeria. This study utilised in-depth interviews to collect data from 30 purposively selected female undergraduates. Findings show that (...) the prostitution label is substituted for ‘runs-girls’, as a distinct social category. Clients are recruited on and off campus through mastery of routine activities of ‘aristocrats’ on campus, connection and referrals. The ‘aristos’ include wealthy postgraduate students, politicians, business men, and military personnel, among others. The sex work is undertaken on and off campus, in hotels or in the private residences of ‘runs-girls’. ‘Aristocratic’ transactional sex is sustained by erotic capital, including dexterous bed skills, such as sucking and romance. Luxury possessions, such as cars, BlackBerry phones and social security (job placement) after school life are the perceived derivable benefits of the erotic association. Provision of part-time jobs for vulnerable students could positively reduce transactional sex in ivory towers. (shrink)

The food regime concept is a key to unlock not only structured moments and transitions in the history of capitalist food relations, but also the history of capitalism itself. It is not about food per se, but about the relations within which food is produced, and through which capitalism is produced and reproduced. It provides, then, a fruitful perspective on the so-called ‘world food crisis’ of 2007–2008. This paper argues that the crisis stems from a long-term cycle of fossil-fuel dependence (...) of industrial capitalism, combined with the inflation-producing effects of current biofuel offsets and financial speculation, and the concentration and centralization of agribusiness capital stemming from the enabling conjunctural policies of the corporate food regime. Rising costs, related to peak oil and fuel crop substitutes, combine with monopoly pricing by agribusiness to inflate food prices, globally transmitted under the liberalized terms of finance and trade associated with neoliberal policies. (shrink)

This article introduces a new model of the relationship between growth and learning and tests a set of hypotheses related to the development of adult competency using time allocation, anthropometric, and experimental task performance data collected between 1992 and 1997 in a multiethnic community in the Okavango Delta, Botswana. Building on seminal work in life history theory by Hawkes, Blurton Jones and associates, and Kaplan and associates, the punctuated development model presented here incorporates the effects of both growth and learning (...) constraints on age-specific task performance. In addition, the payoff to investment in two forms of embodied capital, growth-based and learning-based, are examined in relation to features of the socioecology, including subsistence economy and family composition.The three main findings are:The development of adult competency in specific tasks entails a steplike relationship between growth- and experience-based forms of embodied capital in the ontogeny of ability acquisition.There is a trade-off between the acquisition of experience-based embodied capital in the form of skills and knowledge and immediate productivity among children. Time allocation to these alternatives is primarily determined by the short- and long-term costs and benefits to parents of investment in children’s embodied capital.The availability of laborers and the overall labor requirements of the household are major determinants of investment in alternate forms of embodied capital and resulting variation in children’s time allocation. The value of children’s labor to their parents is dependent upon the opportunity costs to engaging in other activities not only for the child in question but also for potential substitute laborers.These results have important implications for our understanding of the role of growth and learning in the evolution of the human juvenile period, as well as for our understanding of cross-cultural variation in child growth and development and patterns of work and play. (shrink)

Creating android and humanoid robots to furnish companionship in the nursing care of older people continues to attract substantial development capital and research. Some people object, though, that machines of this kind furnish human–robot interaction characterized by inauthentic relationships. In particular, robotic and artificial intelligence (AI) technologies have been charged with substituting mindless mimicry of human behaviour for the real presence of conscious caring offered by human nurses. When thus viewed as deceptive, the robots also have prompted corresponding concerns (...) regarding their potential psychological, moral, and spiritual implications for people who will be interacting socially with these machines. The foregoing objections and concerns can be assessed quite differently, depending upon ambient religious beliefs or metaphysical presuppositions. The complaints may be set aside as unnecessary, for example, within religious traditions for which even current robots can be viewed as presenting spiritual aspects. Elsewhere, technological cultures may reject the complaints as expression of outdated superstition, holding that the machines eventually will enjoy a consciousness described entirely in materialist and behaviourist terms. While recognizing such assessments, the authors of this essay propose that the heart of the foregoing objections and concerns may be evaluated, in part, scientifically – albeit with a conclusion recommending fundamental revisions in AI modelling of human mental life. Specifically, considerations now favour introduction of AI models using interactive classical and quantum computation. Without this change, the answer to the essay's title question arguably is ‘no’ – with it, the answer plausibly becomes ‘maybe’. Either outcome holds very interesting implications for nurses. (shrink)

The meaning of sustainability is the subject of intense debate among environmental and resource economists. Perhaps no other issue separates more clearly the traditional economic view from the views of most natural scientists. The debate currently focuses on the substitutability between the economy and the environment or between “natural capital” and “manufactured capital”—a debate captured in terms of weak versus strong sustainability. In this article, we examine the various interpretations of these concepts. We conclude that natural science and (...) economic perspectives on sustainability are inconsistent. The market-based Hartwick-Solow “weak sustainability” approach is far removed from both the ecosystem-based “Holling sustainability” and the “strong sustainability” approach of Daly and others. Each of these sustainability criteria implies a specific valuation approach, and thus an ethical position, to support monetary indicators of sustainability such as a green or sustainable Gross Domestic Product. The conflict between “weak sustainability” and “strong sustainability” is more evident in the context of centralized than decentralized decision making. In particular, firms selling “services” instead of material goods and regarding the latter as “capital” leads to decisions more or less consistent with either type of sustainability. Finally, we discuss the implications of global sustainability for such open systems as regions and countries. Open systems have not been dealt with systematically for any of the sustainability criteria. (shrink)

The meaning of sustainability is the subject of intense debate among environmental and resource economists. Perhaps no other issue separates more clearly the traditional economic view from the views of most natural scientists. The debate currently focuses on the substitutability between the economy and the environment or between “natural capital” and “manufactured capital”—a debate captured in terms of weak versus strong sustainability. In this article, we examine the various interpretations of these concepts. We conclude that natural science and (...) economic perspectives on sustainability are inconsistent. The market-based Hartwick-Solow “weak sustainability” approach is far removed from both the ecosystem-based “Holling sustainability” and the “strong sustainability” approach of Daly and others. Each of these sustainability criteria implies a specific valuation approach, and thus an ethical position, to support monetary indicators of sustainability such as a green or sustainable Gross Domestic Product (GDP). The conflict between “weak sustainability” and “strong sustainability” is more evident in the context of centralized than decentralized decision making. In particular, firms selling “services” instead of material goods and regarding the latter as “capital” leads to decisions more or less consistent with either type of sustainability. Finally, we discuss the implications of global sustainability for such open systems as regions and countries. Open systems have not been dealt with systematically for any of the sustainability criteria. (shrink)

Dating back to the 1930s, President Franklin D. Roosevelt argued that workers were entitled to a wage that allowed them to enjoy a decent standard of living—a conviction that led the president to propose the first federally-mandated minimum wage. Mr. Roosevelt’s proposal was met with highly partisan resistance in congress and the courts—reactions not different in kind from the highly partisan resistance former President Obama experienced in his proposal to increase the federal minimum wage from its current level of $7.25 (...) per hour. Reflecting President Roosevelt’s convictions, it is clear that many low wage workers today are not, and cannot, enjoying a decent standard of living at current minimum wage levels. Further, many of the economic arguments raised in opposition to increasing the minimum wage have been thoroughly discredited: empirical evidence suggests that increased minimum wages would not lead to dramatic spikes in unemployment, massive substitutions of capital for labor, business closings, and significantly increased consumer prices. However, as compelling as arguments for increasing the minimum wage may be, the reality is that this may not be sufficient to alleviate the plight of low income workers, particularly given the political nature of minimum wage adjustments. Indeed, it may be time to shift the national focus away from the minimum wage to an emphasis on viable living wage legislation, a proposition consistent with the social justice perspective of contemporary ethicists. (shrink)

Using data from China’s public debt markets, we study the value of corporate reputation and how it interacts with legal and cultural forces to assure accountability. Exploring lawsuits that change corporate reputation, we find that firms involved in lawsuits experience a decrease in bond values and a tightening of borrowing terms. Using the heterogeneities in legal and social capital environments across Chinese provinces, we find the effects are more pronounced for private firms, firms headquartered in provinces with low legal (...) protections, and firms headquartered in provinces with high social capital. The results show that lawsuits that allege misconduct are associated with reputational penalties and that such penalties serve as substitutes for legal protections and as complements to cultural forces to provide ex post accountability and motivate ex ante trust. (shrink)

In today's age of restrictionism, a growing number of countries are closing their gates of admission to most categories of would-be immigrants with one important exception. Governments increasingly seek to lure and attract “high value” migrants, especially those with access to large sums of capital. These individuals are offered golden visa programs that lead to fast-tracked naturalization in exchange for a hefty investment, in some cases without inhabiting or even setting foot in the passport-issuing country to which they now (...) officially belong. In the U.S. context, the contrast between the “Dreamers” and “Parachuters” helps to draw out this distinction between civic ties and credit lines as competing bases for membership acquisition. Drawing attention to these seldom-discussed citizenship-for-sale practices, this essay highlights their global surge and critically evaluates the legal, normative, and distributional quandaries they raise. I further argue that purchased membership goods cannot replicate or substitute the meaningful links to a political community that make citizenship valuable and worth upholding in the first place. (shrink)

Drawing on centuries of wisdom from the Christian ethical tradition, this book takes readers on a journey of self-examination, exploring why our hearts are captivated by glittery but false substitutes for true human goodness and happiness. The first edition sold 35,000 copies and was a C. S. Lewis Book Prize award winner. Now updated and revised throughout, the second edition includes a new chapter on grace and growth through the spiritual disciplines. Questions for discussion and study are included at the (...) end of each chapter. Contents 1. Why Study the Vices? 2. Gifts from the Desert: The Origins and History of the Vices Tradition 3. Vainglory: Image Is Everything 4. Envy: Feeling Bitter When Others Have It Better 5. Sloth (Acedia): Resistance to the Demands of Love 6. Avarice: Possession and Mastery 7. Wrath: Holy Emotion or Hellish Passion? 8. Gluttony: Feeding Your Face and Starving Your Heart 9. Lust: Sexuality Stripped Down 10. The Rest of the Journey: Self-Examination, the Seven Capital Vices, and Spiritual Formation Epilogue Index. (shrink)

In 1992, the Walloon Region modified its investment incentive legislation. The new legislation applies the notion of SME to any business employing up to 250 people and which turnover does not exceed 20 million ECU, and replaces the former interest subsidies and capital premiums by a grant calculated as a percentage of investment. According to the size of the business, the activity sector and the area, the maximum aid may vary from 13 to 21 %. The grant total percentage (...) is calculated by summing up the percentage of aid obtained for five criteria under which job creation is by far the most important. The new legislation gives a partial answer to traditional criticisms against investment incentives. First of all it aims at reducing the risk of accelerated substitution of capital for Labour. Besides, it simplifies adminsitrative procedures and reduces the "sprinkling". It should also reduce the risk of inefficient allocation of resources thatarises when grants go to loss-making entreprises. But the question of whether investment incentives actually increase the level of investment remains largely unanswered. Evidence suggests that investment incentives might have contributed to attract foreign investments hut have little impact on thelevel of domestic investment. Nevertheless, as far as SMEs are concerned, public grants might contribute to increased investment not by reducing the cost or increasing the profitability of the project but rather by increasing the means available in the business. (shrink)

A simple exogenous growth model gives conservative estimates of the economic implications of machine intelligence. Machines complement human labor when they become more productive at the jobs they perform, but machines also substitute for human labor by taking over human jobs. At first, expensive hardware and software does only the few jobs where computers have the strongest advantage over humans. Eventually, computers do most jobs. At first, complementary effects dominate, and human wages rise with computer productivity. But eventually substitution (...) can dominate, making wages fall as fast as computer prices now do. An intelligence population explosion makes per-intelligence consumption fall this fast, while economic growth rates rise by an order of magnitude or more. These results are robust to automating incrementally, and to distinguishing hardware, software, and human capital from other forms of capital. (shrink)

This paper aims to suggest a new approach to Plato’s theory of being in Republic V and Sophist based on the notion of difference and the being of a copy. To understand Plato’s ontology in these two dialogues we are going to suggest a theory we call Pollachos Esti; a name we took from Aristotle’s pollachos legetai both to remind the similarities of the two structures and to reach a consistent view of Plato’s ontology. Based on this theory, when Plato (...) says that something both is and is not, he is applying difference on being which is interpreted here as saying, borrowing Aristotle’s terminology, 'is is (esti) in different senses'. I hope this paper can show how Pollachos Esti can bring forth not only a new approach to Plato’s ontology in Sophist and Republic but also a different approach to being in general. -/- Keywords Plato; being; difference; image; pollachos esti; pollachos legetai 1. Being, Not-Being and Difference The three dialogues where the notion of "difference" attaches to the notion of being, namely Parmenides II, Sophist and Timaeus,and specifically the first two we try to discuss here. In these dialogues, Plato is going to achieve a new and revolutionary understanding of being which is not anymore based on the notion of "same" as it was before in Greek ontology. It was his discovery, I think, that the notion of being in the Greek ontology is attached to the notion of the "same" and it is because of this attachment that there have always been many problems understanding being especially after Parmenides. That being has always been relying on the "same" can be found out from the way most of the Presocratics understood it. It was based on such a relationship between being and "same" that a later Ionian, Heraclitus of Ephesus, rejected Being by rejecting its sameness: unable to be the same, being cannot be being anymore but becoming. Heraclitus’ criticism of his predecessors’ understanding of being was due to his discovery that what they call being is not the same but different in every moment. The relation of being and sameness reaches to its highest point in Parmenides. What Plato does in using the "difference" is nothing but the establishment of a creative relation between being and "difference". In this new relation, although he is in agreement with Heraclitus that being is not the same but different, he does not do it by use of becoming. He disagrees, on the other hand, with Parmenides that such a relation between being and difference leads to not being. At Parmenides 142b5-6 it is said that if One is, it is not possible for it to be without partaking (μετέχειν) of being (οὐσίας), which leads to the distinction of being and one: -/- So there would be also the being of the one (ἡ οὐσία του̑ ἑνὸς) which is not the same (ταὐτὸν) as the one. Otherwise, it wouldn’t be its being, nor the one would partake of it. (142b7-c1) -/- The fact that what is (ἔστι) signifies (σημαῖνον) is other (ἀλλο) than what One signifies (c4-5), is being taken as a reason for their distinction. The conclusion is that when we say 'one is', we speak of two different things, one partaking of the other (c5-7). Having repeated these arguments of the otherness of being and one at 143a-b, Parmenides says that the cause of this otherness can be neither Being nor One but "difference": -/- So if being is something different (ἕτερον) and one something different (ἕτερον), it is not by being one that the one is different from being nor by its being being that being is other than one, but they are different from each other (ἕτερα ἀλλήλων) by difference (τῷ ἑτερῳ) and otherness (ἄλλῳ). (143b3-6) -/- The fifth hypothesis, 'one is not' (160b5ff.) is also linked with the notion of difference. When we say about two things, largeness and smallness, that they are not, it is clear that we are talking about not being of different (ἕτερον) things (160c2-4). When it is said that something is not, besides the fact that there must be knowledge of that thing, we can say that it entails also its difference: 'difference in kind pertains to it in addition to knowledge' (160d8). Parmenides explains the reason as such: -/- For someone doesn’t speak of the difference in kind of the others when he says that the one is different from the others, but of that thing’s own difference in kind. (160e1-2) -/- Although the theory of being as "difference" is not fulfilled yet, an exact look at what occurs in Sophist can make us sure that this was the launching step for "difference" to get its deserved role in Plato’s ontology. The notion of the "difference" is not yet well-functioned in Parmenides because we can see that being is still attached to the same: -/- For that which is the same is being (ὄν γὰρ ἐστι τὸ ταὐτόν) (162d2-3). -/- The notion of difference in Sophist is the key element based on which a new understanding of being is presented and the problem of not being is somehow resolved. The friends of Forms, the Stranger says, are those who distinguish between being and becoming (248a7-8) and believe that we deal with the latter with our body and through perception while with the former, the real being (ὄντως οὐσίαν) with our soul and through reasoning (a10-11). Being is then bound with the "same" by adding: -/- You say that being always stays the same and in the same state (ἣν ἀεὶ κατὰ ταὐτὰ ὡσαύτως ἔχειν) but becoming varies from one time to another (δὲ ἄλλοτε ἄλλως). (248a12-13) -/- That the theory of the relation of being and capacity (247d8f., 248c4-5) matches more with becoming than with being (248c7-9) must be rejected because being is also the subject of knowledge which is kind of doing something (248d-e). It does, however, confirm that 'both that which changes and also change have to be admitted as existing things (ὄντα) (249b2-3). I believe that this is what Socrates would incline to do at Theaetetus 180e-181a, that is, putting a fight between two parties of Parmenidean being and Heraclitean becoming and then escaping. The solution is that becoming is itself a kind of being and we ought to accept what changes as being. This is what must be done by a philosopher, namely, to refuse both the claim that 'everything is at rest' and that 'being changes in every way' and beg, like a child, for both and say being (τὸὄν) is both the unchanging and that which changes (249c10-d4). This kind of begging for both is obviously under the attack of contradiction (249e-250b). For both and each of rest and change similarly are (250a11-12) but it cannot be said either that both of them change or both of them rest, being must be considered as a third thing both of the rest and change associate with (250b7-10). The conclusion is that 'being is not both change and rest but different (ἕτερον) from them instead' (c3-4). The notion of difference helps Plato to take being departed from both rest and change because it was their sophisticated relation with being that made the opposition of being and becoming. Plato is now trying to separate being from rest and, thus, from "same" by "difference". Such a crucial change is great enough to need a 'fearless' decision (256d5-6). The possibility of being of not being is resulted (d11-12) comes as the answer to the question 'so it’s clear that change is not being and also is being (ἡ κίνησις ὄντως οὐκ ὄν ἐστι καὶ ὄν) since it partakes in being?' (d8-9). It is then by the notion of difference that becoming is considered as that which both is and is not. This coincidence of being and not being about change is apparently similar to Socrates’ paradoxical statement at Republic 477a about what both is and is not. -/- Introduction The Republic 476-477 has always been a matter of controversy mainly about two interwoven points. The first problem is the meaning of being here; that whether what he has in mind is a veridical, existential or propositional sense of being. The second problem is his distinction between the objects of knowledge and opinion which seems to lead, some believe, to the Two Worlds (TW) theory. The crucial point in Republic is that what is considered between knowledge (ἐπιστήμης) and ignorance (α͗γνοιας), namely opinion, must have a different object that leads Socrates to draw the distinction of knowledge and opinion between their objects. The problem of understanding being in the fifth book of the Republic is that when it is said that the Form of F is F but a particular participating in F, both is and is not F, it sounds too bizarre and unacceptable. It cannot be imaginable how a thing can be existent and non-existent at the same time. At the first sight, the only solution seems to be the degrees of existence which is called by Annas (1981, 197) a 'childish fallacy' and a 'silly argument'. Kirwan (1974, 118) thinks that Republic V does not attribute 'any doctrine about existence' to Plato and Kahn (1966, 250) claims that the most fundamental value of einai when used alone (without predicate) is not "to exist" but "to be so", "to be the case" or "to be true". The problems of understanding being in Republic and Sophist besides the difficulties of the existential reading led scholars to the other senses of being, mostly related to the well-known Aristotelian distinctions between different senses of being. In the predicative reading, Annas, for example, refers this difference to the qualified and unqualified application. Whereas the Form of F is unqualifiedly F, a particular instance of F can be F only qualifiedly (1981, 221). Vlastos’ well-known substitution of 'degrees of reality' for 'degrees of being/existence' must be categorized as a predicative reading. Kahn thinks that the basic sense of being for Plato is 'something like propositional structure, involving both predication and truth claims, together with existence for the subject of predication' (2013, 96). Believing that the complete-incomplete distinction terminology is misleading about Plato, he thinks that semantic functions are only second-order uses of the verb and it is the predicative or incomplete function which is fundamental. Suggesting a veridical reading, Fine (2003, 70 ff) thinks that while both existential and predicative readings separate the objects of knowledge and belief, it is only her reading which does not force such separation of the objects and thus does not imply TW. Stokes (1998, 266) thinks that though Fine is right saying that Plato does not endorse TW in book V, she is wrong in rejecting existential in favor of the veridical reading. The reception of existential reading can be seen more obviously in Calvert who thinks, in agreement with Runciman, that 'it would be safer to say that Plato’s gradational ontology is probably not entirely free from degrees of existence' (1970, 46). At Sophist 254d-e Plato singles out five most important kinds (or Forms!?) in which the same (ταὐτὸν) and difference (θάτερον) are regarded besides being, rest and change. They are, therefore, neither the same nor the difference but share in both (b3). Being (τὸ ὄν) cannot be the same also because if they 'do not signify distinct things' both change and rest will have the same label when we say they are (255b11-c1). We have then four distinct kinds, being, change, rest and same, none of them is the other. The case of difference is more complicated. When the stranger wants to assess the relation of being and difference, he can say simply neither that they are distinct nor that they are not. He has to make an important distinction inside being to get able to draw the relation of being and difference: -/- But I think you'll admit that some of the things that are (τῶν ὄντων) are said (λέγεσθαι) by themselves (αὐτὰ καθ’ αὑτά) but some [are said] always referring to (πρὸς) other things (ἄλλα) (255b12-13) -/- The difference is always said referring to other things (τὸδέγ’ ἕτερον ἀεὶ πρὸς ἕτερον) (255d1). It pervades all kinds because each of them should be different from the others and is so due to the difference and not its own nature (253e3f.) After asserting that change is different from being and therefore both is and is not (256d), the difference is described as what makes all the other kinds not be, by making each different from being. Given that all of them are by being, this association of being and difference is the cause of their being and not-being at the same time, the issue that its version at RepublicV made all those controversies we discussed above: -/- So in the case of change and all the kinds, not being necessarily is (Ἔστιν ἄρα ἐξ ἀναγκης τὸ μὴ ὄν). Τhat’s because as applied to all of them, the nature of the difference (ἡ θατέρον φύσις) makes each of them not be by making it different from being. And we’re going to be right if we say that all of them are not in the same way. And conversely [we’re also going to be right if we say] that they are because they partake in being. (Sophist 256d11-e3) -/- Plato’s new construction of five distinct kinds and the role he gives to thedifference among them is aimed to resolve the old problem of understanding being which has always been annoying from the time of Heraclitus and Parmenides. Both the ontological status of becoming and that of not being were, in Plato’s mind, based on the absolute domination of the notion of the Same over being. Now, not only becoming is understandable as being but also not being which is not the contrary of being anymore but only different (ἕτερον) (257b3-4). Though I agree partly with Frede that the account of not being which is needed for false statements is more complicated than just saying, as Cropsey (1995, 101) says, that Plato is substituting 'X is not Y' with 'X is different from Y', I totally disagree with him that when we say X is not beautiful, Plato could not have thought that it is not a matter of its being different from beautiful because 'it would be different from beauty even if it were beautiful by participation in beauty' (1992, 411). Conversely, as we will discuss, it is exactly the relation of the beautiful thing, X, and the beautiful itself, in which X shares that is to be solved by the notion of not being as difference. Though it is beautiful because of sharing in beauty, X is not beautiful because it is different from beautiful itself. What the difference is to do is to show how something can both be and not be the same thing. The difference is what makes one thing both be and not be a certain other thing. This equips the difference with the ability to explain a certain thing’s not-being when it is. Thanks to the notion of difference, it is now possible to explain not only not being but also the simultaneous being and not being of a thing: 'What we call "not-beautiful" is the thing that ἕτερόν ἐστιν from nothing other than του̑ καλου̑ φύσεως' (257d10-11). The result is that not beautiful happens to be (συμβέβηκεν εἶναι) one single thing among kinds of beings (τι τῶν ὄντων τινὸς ἑνὸς γένους) and at the same time set over against one of the beings (πρός τι τῶν ὄντων αὖ πάλιν ἀντιτεθὲν) (257e2-4) and thus be something that happens to be not beautiful (εἶναί τις συμβαίνει τὸ μὴ καλόν); a being set over against being (ὄντος δὴ πρὸς ὄν ἀντίθεσις) (e6-7). Neither the beautiful is more a being (μα̑λλον ... ἐστι τῶν ὄντων) nor not beautiful less (e9-10) and thus both the contraries similarly are (ὁμοίως εἶναι) (258a1). This conclusion, it is emphasized again (a7-9), owes to θατέρου φύσις now turned out as being. Therefore, each of the many things that are of the nature of the difference and set over each other in being (τῆς τοῦ ὄντος πρὸς ἄλληλα ἀντικειμένων ἀντίθεσις) is being as being itself is being (αὐτοῦ τοῦὄν τοςοὐσία ἐστιν) and not less. They are different from, and not the contrary of, each other (a11-b3). This is exactly τὸμὴὄν, the subject of the inquiry (b6-7). Hence, not being has its own nature (b10) and is one εἶδοςamong the many things that are (b9-c3). Such far departing from Parmenides’ ontological principle is done on the basis of the nature of the difference. It was the discovery of such a notion that made the stranger brave enough to say that not being is each part of the nature of the difference that is set over against being (258d7-e3, cf. 260b7-8). That the relation of being and difference is difference is the key element of the new ontology. The difference is, only because of its sharing in being, but it is not that which it shares in but different from it (259a6-8). Not being is exactly based on this difference: ἕτερον δὲ τοῦ ὄντος ὄν ἔστι σαφέστατα ἐξ ἀνάγκης εἶναι μὴ ὄν (a8-b1). 2. Difference and the Being of a Copy We discussed above that the sense of being of particulars in Republic V made so many debates that whether being is there used in an existential sense or not. Particulars in Republic are regarded as images in the allegories of Line and Cave. The being of an image/copy makes, thus, the same problem. Plato’s analogy of original -copy for the relation of Forms and their particulars in Republic has obviously a different attitude to being. The main question is that what is the ontological status of a copy in respect of its original? Are there two kinds of being, 'real being' versus 'being' as Ketchum says (1980, 140) or only one kind? What is the difference of being in an original and its copy? Is it a matter of degrees of being or reality as some commentators have suggested? Is it a matter of being relational? By reducing the ontological issue to an epistemological one, Vlastos’ suggestion of degrees of reality in an article with the same name does neither, I think, pay attention to the problem nor resolve it. He agrees that Plato never speaks of "degrees" or "grades" of reality (1998, 219). What allows him to entitle it as such are some of Plato’s words in Republic as well as Plato’s words in some other dialogues (1998, 219). When Plato states that the Forms only can completely, purely or perfectly be real he means, Vlastos says, they are cognitively reliable (1998, 229); an obvious reduction of the issue to an epistemological one. He thinks that when in Republic we are being said that a particular’s being F is less pure than its Form, it is because it is not exclusively F, but it is and is not F and this being adulterated by contrary characters is the reason of our confused and uncertain understanding of it (1998, 222). Ketchum rightly criticizes Vlastos’ doctrine in its disparting from ontology thinking that 'to understand Plato’s talk of being as talk of reality is to obscure the close relation that exists between "being" and the verb "to be"' (1980, 213). He thinks, therefore, that οὐσία must be understοοd as being rather than reality, τὸὄν as "that which is" and not "that which is real" and … (ibid). His conclusion is that degrees of reality cannot interpret Plato correctly and we must accept degrees of being. Allen believes that a 'purely epistemic' reading of the passage in Republic is patently at odds with Plato’s text (1961, 325). He thinks that not only degrees of reality but also degrees of reality must be maintained (1998, 67). What Cooper suggests gets close to this paper’s solution: -/- Plato does not I think wish to suggest that existence is a matter of degree in the way in which being pleasant or painful is a matter of degree. Rather there are different grades of ontological status. (1986, 241) -/- A more ontological solution for the problem of understanding the being of a copy and its relation with the being of its original is suggested by the theory of copy as a relational entity. Based on this interpretation, 'the very being of a reflection is relational, wholly dependent upon what is other than itself: the original…' (Allen, 1998, 62). As relational entities, particulars have no independent ontological status; they are purely relational entities which derive their whole character and existence from Forms (ibid, 67). Although these relational entities are and have a kind of existence, we must also say that 'they do not have existence in the way that Forms, things which are fully real, do' (ibid). Allen (1961, 331) extends his theory to Phaedo where it is said that particulars are deficient (74d5-7, 75a2-3, 75b4-8), 'wish' to be like (74d10) or desire to be of its nature (75a2); an extension that, like F.C. white (1977, 200), I cannot admit. He correctly states that Plato did not start out with a doctrine of particulars as images and semblances but come to such a view after Phaedo, or perhaps after Republic V (1977, 202). Though we may not agree with him about Republic V, if we have to consider its last pages also, we must agree with him that not only the ontology of Phaedo but also that of Republic II-V (except the last pages of the latter book) are somehow different from (but at the same time appealing to) the ontology of original-copy which should exclusively assign to Sophist, Timaeus and RepublicVI-VII besides the last pages of book V. The answer to the problem of Plato’s sense of being in RepublicV can be reached only if we read Republic V based on and as following Sophist. We can find out his meaning of that which both is and is not only by the ontological status he assigns to a copy in Sophist. The kind of being of a copy in Sophist reveals as Plato’s key for the lock of the problem of not being. Let’s see how the ontological status of a copy is the critical point of Plato’s ontology. In the earlier pages of Sophist, we are still in the same situation about not being. To think that that which is not is is called a rash assumption (237a3-4) and Parmenides’ principle of the impossibility of being of not being is still at work (a8-9). At 237c1-4, the problem of "not being" is noticed in a new way which shows some kinds of a more realistic position to the problem of not being. Nevertheless, not being is still unthinkable, unsayable, unutterable and unformulable in speech (238c10). Soon after mentioning that it is difficult even to refuse not being (238d), the solution to the problem appears: the being of a copy (εἴδωλον) (239d). A copy is, says Theaetetus, something that is made referring to a true thing (πρὸς τἀληθινὸν) but still is 'another such thing (ἕτεροντοιου̑τον)' (240a8). Nevertheless, this 'another such thing' cannot be another such real or true thing. In answer to the question of the Stranger that if this 'another such thing' is the true thing (240a9), Theaetetus answers: οὐδαμῶς ἀληθινόν γε, ἀλλ’ ἐοικὸςμὲν (240b2). A copy’s being 'another such thing' does not mean another true thing but only a resemblance of it. Not only is not a copy another true thing besides the original, but it is the opposite of the true thing (b5) because only its original is the thing genuinely and being a copy is being the thing only untruly. The word ἐοικὸς is opposed to ὄντως ὄν in the next line (240b7): 'So you are saying that that which is like (ἐοικὸς) is not really that which is (οὐκ ὄντως [οὐκ] ὄν)'. But still a copy 'is in a way (ἔστι γε μήν πως)' (b9). While it is not really what it is its resemblance, it has its own being and reality because it really is a likeness (εἰκων ὄντως) (b11). The Stranger asks: -/- So it is not really what is (οὐκ ὄν ἄρα [οὐκ] ὄντως ἐστὶν) but it really is what we call a likeness (ὄντως ἣν λέγομεν εἰκόνα)? (b12-13) -/- This is Plato’s innovative ontological solution to the problem of not being. Theaetetus’ answer confirms this: 'Maybe that which is not is woven together with that which is' (c1-2). Therefore, a copy neither is what really is nor is not-being but only is what in a way is. Thanks to the ontological status of a copy, the third status intermediate between being and not being is brought forth. The essence of an image, in Kohnke’s words, does not consist 'solely in the negation of what is genuine and has real being' because otherwise 'it would be an ὄντως οὐκ ὄν,essentially and really a not being' (1957, 37). The characteristics of a copy can be summed up as folows: i) A copy is a copy by referring to a true thing (πρὸς τἀληθινὸν). ii) A copy is different from that of which it is a copy (ἕτερον). iii) A copy is not itself a true thing (ἀληθινόν) as that of which it is a copy but only that which is like it (ἐοικὸς). iv) It is not really that which really is (ὄντως ὄν) but only really a likeness (εἰκων ὄντως). The conclusion is that: v) A copy in a way (πως) is that means it both is and in not, the product of interweaving being with not being. This leads to the refutation of father Parmenides’ principle, accepting that 'that which is not somehow is (τό τε μὴ ὄν ὡς ἔστι)' and 'that which is, somehow is not (τό ὄν ὡς οὐκ ἔστι) (241d5-7). Besides copies and likenesses (εἰκόνων), we have also imitations (μιμημάτων) and appearances (φαντασμάτων) as the subjects of this new kind of being and thus false belief (241e3). In Timaeus, the world of becoming which cannot correctly be called and thus we have to call it "what is such" (τὸ τοιου̑τον) (49e5) or "what is altogether such" (τὸ διἀ παντὸς τοιου̑τον) (e6-7), consists solely of imitations (μιμημάτα) (50c5) which are identifiable only by the things that they are their imitations. The word τοιου̑τον which had been used to determine the situation of a copy in respect of its original, now becomes the definition of the world of becoming in which everything is an image of another thing, a Being, that stays always the same and is different and separated from its image. Cherniss, in my view rightly, draws attention to the very important point about the ontological status of an image that can at the same time be considered a criticism of the relational theory. What we are being said in Timaeus, he thinks,cannot be explained by saying that an image is not self-related and making its being relational. What is crucial about an image is that it 'stands for something, refers to something, means something and this meaning the image has not independently as its own but only in reference to something else apart from it' (1998, 296). This function finds its best explanation in the theory we are to suggest in the following. 3. πολλαχῶς ἔστι The best way to understand the ontological status of an image in Plato is to see first how his most clever pupil, Aristotle, resolved the same problem that Plato brought his theory of image for its sake. Aristotle’s theory of pollachos legetai is a brilliant and, at the same time, deviated version of Plato’s theory that is able, however, to help us read Plato in a better way. We discuss Aristotle’s theory to reach to a full understanding of Plato’s theory because it is, firstly, constructed in Aristotle in a more clear way and, secondly, it can also be taken as an evidence that our reading of Plato is legitimate. The phrase τὸ ὄν πολλαχῶς λέγεται, a so much repeated phrase in Aristotle’s works, is his resolution for some of the ontological problems of his predecessors all treating being as if it has only one sense. Aristotle is right in his criticism of the philosophical tradition specially Heraclitus, Parmenides and Plato since all did presuppose only one sense for being and his theory is, thus, a creative and revolutionary solution for many problems that all the past philosophers were stuck in. But it is at the same time somehow a borrowed theory. As we will discuss, both the structure of the doctrine and the problems it tries to resolve are the same as Plato’s doctrine (and even is comparable in its phraseology) though it is in Aristotle, as can be expected, a more clear and better structured doctrine. 1) Associated with the theory of pros hen and the theory of substance, the theory of several senses of being provides a structure which, I insist, is the best guide to understand Plato’s theory of Being in Sophist, Timeaus and Republic. a) Although the theory of pollachos legetai is not necessarily based on the theory of pros hen, they become tightly interdependent about being: -/- Being is said in many ways/senses (τὸ δὲ ὄν λέγεται μὲν πολλαχῶς) but by reference to one (πρὸς ἕν) [way/sense] and one kind of nature (μίαν τινὰ φύσιν). (Metaphysics 1003a33-34) -/- The doctrine of pros hen which is Aristotle’s initiative third alternative besides the homonymous and synonymous application of words, is primarily a linguistic theory that tries to provide a new theory to explain the different implementations of the same word. The pros hen implementation of being is to provide an alternative for the theory of the synonymous (in Plato: homonymous) implementation of being which says being is said in one sense (kath hen) (1060b 32-33). That both the pros hen and the kath hen implementation of a word has one thing (hen) as what is common, makes them in opposition to the homonymous implementation which does not consider anything in common. Whereas both pros hen and kath hen assume a common nature, with which all the implementations of the word have some kind of relation, their difference is that while kath hen takes all the implementations of the word as the same with the common nature, pros hen makes them different. Substance is called πρῶτον ὄν because it is said to be primarily: -/- For as is (τὸ ἔστιν) is predicated of all things, not however in the same way (οὐχ ὁμοίως) but of one sort of thing primarily and of others in a secondary way. So too τὸτί ἐστιν belongs simply (ἁπλῶς) to substance but in a limited sense (πῶς) to the others [other categories] (1030a21-23). -/- The word ἁπλῶς standing against κατὰ συμβεβηκός tries to make substance different from the accidents. When we are being said that τὸ ὄν πολλαχῶς λέγεται, it means that only the substance that is simply (ἁπλῶς) the ἕν, the common nature, τὸὄν. When we use the word 'being' about a substance, the being is said differently from when we use 'being' about an accident. The distinction between the substance and the other categories is a distinction between what simply is said to be and what only with reference to (pros) the substance is said to be. The doctrine of pros hen, changing kath hen to pros hen in respect of to on, makes a distinction that wants to show that while there is a kind of implementing the word being that is simply being, there is another kind which is called being only by reference to that which is simply being. In the doctrine of pros hen it is not so that all the things that are said to be are only by reference to a common one thing, but that while one thing is called being because it is that thing itself, the other things are called so without being that thing itself but only by referring to it. At the very beginning of book Γ, it is said that: -/- Being is said in many senses but all refer to one arche. Some things are said to be because they are substances, others because they are affections of substances, others because they are a process towards substances or destructions or privations or qualities of substances … (1003b5-9, cf. 1028a18-20) -/- Substance is what really is said to be and all other things that are said to be are said only in favor of it. This difference of substance from all other senses of being is what is, I believe, primarily aimed in Aristotle’s interrelated theories of pollachos legetai,pros hen and the theory of substance. b) The difference of the implementation of being in the case of substance and the accidents goes so deep that while substance is considered as the real being, the accidents are almost not being. An accident is a mere name (Metaphysics 1026b13-14) and is obviously akin to not being (b21). Aristotle adds that Plato was 'in a sense not wrong' saying that sophists deal with not being (τὸ μὴ ὄν) because the arguments of sophists are, above all, about the accidental (1026b13-16). At the beginning of book , he says about quality and quantity (which look to be more of a being than other accidents) that they are not existent (οὐδ̕ ὄντα ὡς εἰπεῖν) in an unqualified sense (ἁπλῶς) (1069a21-22). The two above-mentioned points, Aristotle’s (a) interwoven theories of pollachos legetai, pros hen and the theory of substance and (b) taking accidents almost as not being, comparedwith substance, brings forth a structure that I shall call Pollachos Legetai (with capital first letters). What is of the highest importance in this structure for me is the difference of substance from accidents and the kind of relation which is settled between them. There is a substance that without any qualification is said to be and the accidents that are said to be only by reference (pros) to it. Adding Aristotle’s point about accidents that they are nearly not being to this relation and difference, we can obviously see how much this structure is close to Plato’s original-copy ontology. We spoke of the relation of being and difference in Plato’s model and the way Plato construes the being of a copy. A copy is a copy only by referring to (pros) a model; it is different from (ἕτερον) that of which it is a copy; it is not itself a true thing as its model and not really that which is (ὄντως ὄν) but only is in a way (πῶς). If we behold the difference of substance and accident in the context of the theory of pollachos legetai and pros hen, we can observe its fundamental similarity with Plato’s original-copy theory in its structure. Allen draws attention to the fact that the relation between Forms and particulars in Plato’s original-copy model is 'something intermediate between univocity and full equivocity' (1998, 70, n. 24) and the same as what Aristotle calls it pros hen (ibid). What made us compare the two structures was not, of course, the complete similarity of two structures (we have to agree with many possible differences of the two theories) but exactly the specific relation between an original and its copy on the one hand, and a substance and its accident on the other hand. As substance and accident do not share a common character and the substance -accident model hints that they stand in a certain relation, there is no common character between the original and copy in Plato’s model as well. Furthermore, their similarity is not confined to their structure only; they are also aimed to solve the same problem. The central point of the theory is that all the predecessors took being in one sense and this was their weakness point. Besides the mentioned above passages about the relation of pollachos legetai and presocratics’, as well as Plato’s, ontology, the relation of the theory with the problem of not being is clear in several passages. In Metaphysics, it is said: 'Being is then said in many senses… It is for this reason that we say even of not being that it is not being' (1003b5-10). Discussing the accidental sense of being, Aristotle points that it is in the accidental way that we say, for example, that not-white is because that of which it is an accident is (1017a18-19, cf. 1069a22-24). We mentioned that he thought Plato was right saying that sophistic deals with not being because sophistic deals with accidental, which is somehow not being (1026b14-16). Plato turned sophistic not-being to what both is and is not and Aristotle to what accidentally is said to be. What helps Aristotle to resolve the problem of not being is his distinction between ἁπλῶς and κατὰ σθμβεβηκός. Aristotle’s "qua" (ᾕ) which is directly linked with his distinction between καθ’ αὑτο λέγεται and κατὰ συμβεβηκός λέγεται, is used to resolve the old problem of coming to be out of not being (Physics 191b4-10). He strictly asserts that his predecessors could not solve the problem because they failed to observe the distinction of "qua itself" from "qua another thing" (b10-13). He then continues: -/- We ourselves are in agreement with them in holding that nothing can be said simply (ἁπλως) to come from not being (μὴὄντος). But nevertheless we maintain that a thing may come to be from not being in an accidental way (κατὰ συμβεβηκός). For from privation which ὅ ἐστι καθ’ αὑτο μὴ ὄν, nothing can become. (Phy. 191b13-16, cf. b19-25) . (shrink)

Creative Class, Creative Economy, and the Wisdom Society as a Solution to their Controversy The paper briefly introduces the notion of creativity, linking the concepts of creative class and the related creative economy that are considered by Florida and his followers as the driving force of the current social and economic development. The concept of creative economy and its quantification in form of the Creative Class Index 3T or the Euro-Creativity Index were submitted to strong critique.The critics overturn some key (...) issues of the concept of creative class with an indication that the creative people give priority in choosing the work from the place; and there is no or almost nil correlation of a perceptual representation of the persons of homosexual orientation and the high-tech growth which confirms the opinion that the assertion about higher creativity of homosexual persons is a myth only. The purpose of the article is the examination of propriety of the concept of creative class and its quantification at one hand, and the rightfulness of their critique at the other. The analysis of the axiology of the concept of creative class is the method of examination. From point of view of axiology probably the most significant characteristic of the creative class is its accompanying destruction of thee social capital of creative people and it substitution of the creative capital. The rise of creative class takes place in parallel with the implosion of values at which basis our Jewish-Christian civilization is established. To this Florida expresses rather vague attitude by a statement that all socio-cultural changes that accompany the rise of the creative class will have no favorable impact on society.Florida labeled creativity as a basic human law, furthermore, he announced the need for a new live style in which the quality of life will increase and people become better men. The concept of creativity as an instrument of urban planning evolved into a left-liberal ideology with elements of social engineering that is the most important finding of the axiological analysis. The second finding is the need to accept the meaning of creativity. By implication of the two findings there arises a proposal for wisdom as a new driving force of social and economic development. The conclusion is the contribution is a requirement for formulation of the concept of wisdom society that is currently likely absent in the academic world, and the statement that if the West will not create the wisdom society, it will lose the raison d'être of its existence. (shrink)

Hegel is usually regarded as advocate for the retribution theory. This article attempts to correct the misunderstanding through detailed consideration of his notes of philosophy of right, which add up to proposal of substitution of capital punishment. According to Hegel, the punishment can be imposed as the second coercion, only if the crime was committed as the first coercion. This coercion is self-contradicted, inasmuch as it is conceptually the existence of free will of criminal, which encroach the existence (...) of free will of all. This contradiction becomes realized and sublated through the retribution as the second coercion. In this respect, the retributive punishment can be counted as the right containing unlawfulness. However, the object of retribution can be nothing else but the external existence of free criminal will, because the will or thinking itself is ontologically unable to be coerced. Therefore, the empirical consideration of the external regulation upon the crime should be inevitably given. But the empirical determination of punishment cannot also by any means correspond to the concept of retribution adequately, on the ontological ground that there is no individual, which realizes the conceptual universal totally. For that reason, the culture of people, which implies the retributive justice and self-certainty of society, plays a significant role in the determination of punishment. Eventually, Hegel comes to the conclusion that the securer society is, the more individually damage is considered, therefore the milder punishment becomes. To this can be supplemented the other ground that the authentic retribution should guarantee the possibility of durational self-reflection on the universal foundation of coexistence, thus exclude the capital punishment. (shrink)

One of the annoying habits of philosophers is to substitute without warning a normative for a descriptive theory of the topic they are discussing—that is, in what purports to be a statement of how the subject actually presents itself they tell us instead how it ought to present itself. Current treatments of the elusive topic “meaning” seem to me to supply capital instances of this vice. Defenders of a positivist or an operational theory of meaning often give us no (...) hint that their conclusions are conclusions about how the meaning of words ought to be interpreted, not about how, by and large, it is interpreted. Without such a hint their readers naturally suppose that it is the latter problem with which they are concerned, but this is rarely the case; were it so, emphasis could hardly fail to fall on determinants of meaning that are too often neglected by philosophical analysts. (shrink)

Cost-benefit analysis--applying economic reasoning to increasingly complex health policy decisions--continues to be a source of vehement disagreement among its practitioners. re than merely technical issues in measurement and accounting are involved; basic social values embedded in different intellectual traditions are coming into conflict. The "human capital" and "willingness-to-pay" approaches can each aid policy formulation, but neither can substitute for open political process.

A two-sorted term system characterizing NC implicitly is described. The term system is defined over the tree algebra [MATHEMATICAL DOUBLE-STRUCK CAPITAL T], the free algebra generated by 0, 1 and ∗, and the recursion scheme uses pointers over tier 0. This differs from previous characterizations of NC, where tier 1 pointers were used or full parameter substitution over tier 0 was allowed.

In modern literature on the nature of man, we find two main trends : a pessimistic and an optimistic interpretation. Superficially they appear to be mutually exclusive. The first, which usually accepts Machiavelli as its authority, represents human beings as fundamentally evil ; the second, of which Rousseau is the outstanding exponent, depicts man as good by nature.The author demonstrates that both trends are identical in one fundamental aspect, namely that they reject an entire set of impulses comprehensively defined as (...) egoistic. A scale of values that counsels an amenable attitude and consideration of one's neighbor and the public weal, and rejects all egoistical indifference, conditions the practical and theoretical morals of the times.The picture of man inherent in such conceptions does not, however, conform to reality. Endeavoring to explain the obvious contradiction between reality and the moral attitude in modern times, the author analyses the social-psychological situation as evidenced in several outstanding historical events. The Roman revolt of Cola di Rienzo, the movement of Savonarola, the Reformation and the French Revolution, which are described as typical, reveal distinct similarities. Rural and urban masses, whose situation has become unbearable, slide off in a revolutionary direction. This movement is then channelled off by the propertied classes in such a way as to permit them to effect the changes they want in administration, in political, legal and religious institutions. Those impulses of the masses which transgress such demands are diverted into an inner spiritual revival. This accounts largely for the similarities of such events.From such conceptions, the author develops the significance of the modern leader, the endowment of him with magic qualities, the importance of symbols and festivities, the significance of speech, the ever-recurring cry for a revival of the soul, the substitution of new for old „elites“, religious devotion, and the anchorage of poverty in the eternal essence of things. While these phenomena occupy the foreground of the scene in such movements as those described, they are also effective in everyday life. In this way, the function of the moral ideal in incorporating the masses into the framework of existing society is revealed. Asceticism, which is closely connected with these phenomena, during the entire period of individualism has exercised a potent civilizing function, and has contributed towards the development of those human and objective elements necessary for the attainment of a higher historical level. An integral part of the social mechanism of the modern epoch is the process of turning the flow of life inward into a purification of the soul.On the other hand, the depreciation of the individual's happiness, which is reflected in the moral ideal and which, under the ruling social conditions is confirmed daily through the insecurity of life, brings forth a general nihilism which finds expression in the indifference and coolness of human beings towards each other, as well as in various manifestations of barbarism in this epoch.The author maintains that selfishness as a general characteristic of the modern type of man may be traced directly to the social structure, which implies the isolation of the individual. His analysis of the historical events is intended to make the connection more concrete. Thus the study attempts to contribute towards an understanding of the present, in demonstrating that some of its terrifying psychological phenomena are not isolated and accidental, but related to the entire history of the epoch.Dans la littérature anthropologique des temps modernes, on distingue parfois deux tendances, Y une pessimiste et l'autre optimiste. La première, que Ton rapporte généralement à Machiavel, considère l'homme comme essentiellement mauvais ; pour l'autre, dont Rousseau est un représentant typique, l'homme est à l'origine bon. Horkheimer montre que les deux tendances se rencontrent en un point capital : elles rejettent une série d'impulsions naturelles que l'on peut d'un mot désigner comme égoïstes. L'anthropologie, la morale de cette époque posent comme évidente une certaine échelle des valeurs, elles réservent les éloges à une mentalité sociale faite de dévouement au prochain et à la communauté et condamnent tout égoïsme décidé à s'affirmer sans égard à autrui.Cependant ce modèle de l'homme se trouve être en opposition flagrante avec la réalité. Pour expliquer cette tension entre l'être réel et l'idéal de l'homme, H. analyse la situation psychologique et sociale lors de certains événements historiques. La révolte romaine de Cola di Rienzo, le mouvement de Savonarole, la Réforme et la Révolution française, que H. considère comme typiques, présentent certaines analogies. Des masses paysannes et urbaines, dont la situation est devenue insupportable, passent à un mouvement révolutionnaire. Ce mouvement est détourné dans une direction favorable aux classes possédantes par ces classes elles-mêmes, qui utilisent la révolte en vue de revendications bourgeoises, telles que réorganisation administrative, réorganisation des formes politiques, juridiques et religieuses. Dans la mesure où les aspirations des masses vont au delà de ces revendications, ces aspirations sont orientées vers un renouvellement moral et spirituel — elles sont intériorisées. Ainsi s'explique la similitude observée dans le dynamisme de ces événements. H. étudie surtout le rôle du chef bourgeois, les qualités magiques qu'on prête à sa personnalité, l'importance des symboles et des fêtes, la signification du discours, l'appel à la rénovation intérieure, la relève des vieilles élites par des élites nouvelles, l'émotion religieuse, la justification de la pauvreté comme inhérente à la nature éternelle des choses. L'étude de tous ces phénomènes, qui sans doute apparaissent plus nettement dans les révoltes de l'époque bourgeoise, mais qui n'en sont pas moins efficaces dans ce qu'on appelle la vie quotidienne — cette étude montre la fonction que remplit le modèle moral dans l'intégration des masses à la société existante. Le sentiment ascétique, lié à ce modèle, a exercé une puissante action civilisatrice à travers toute l'époque de l'individualisme, et il a contribué à l'évolution matérielle et humaine vers un niveau historique supérieur. L'intériorisation appartient aux mécanismes sociaux de l'époque bourgeoise. D'autre part, le sentiment, impliqué par cet idéal, que le bonheur personnel a peu de prix, sentiment, au reste confirmé chaque jour par l'incertitude de la vie dans les conditions sociales existantes, mène à un nihilisme universel, qui s'est manifesté aussi bien dans la froideur et l'indifférence des hommes les uns à l'égard des autres que dans certains phénomènes de barbarie de cette époque.D'après H., l'égoïsme dans le caractère du type moderne de l'homme, s'explique immédiatement par une structure sociale qui comporte l'isolement de l'individu ; les événements historiques qu'il analyse devraient cependant servir à rendre cette explication plus concrète. Ainsi l'étude veut contribuer à ce que le présent et ses terribles phénomènes psychiques n'apparaissent plus comme isolés et, pour ainsi dire, accidentels, mais s'insèrent au contraire dans l'ensemble historique que représente notre époque. (shrink)

Previous chapter In the aftermath of the Third Century Crisis, the Principate, which had proven inadequate to rule over an empire stretching between the Atlantic ocean and the Middle East, Northern Africa and Rhine and Danube rivers, was substituted by a new political system: the Dominate. In this system, the power was originally divided among four Emperors and four capitals under Diocletian, then reunited under Constantine, then divided again - Sur le concept de rythme – Nouvel article.

Kim Stanley Robinson is a declared eco-socialist and arguably the most distinguished acolyte of Fredric Jameson, America's leading Marxist literary critic. Robinson's Mars trilogy develops a detailed account of three political revolutions. Robinson explains that this was a deliberate choice on his part, because he felt that in his first utopian novel, Pacific Edge, he “dodged the necessity of revolution.” He describes Antarctica and The Years of Rice and Salt as his next utopian novels, but these, too, dodge the “necessity (...) of revolution,” the first by substituting science for politics, the second by projecting an alternative history into an alternative future. In the Science in the Capital trilogy, politics becomes paramount, and it continues to be so in his more recent fiction. This article will explore how Robinson negotiates the transition to utopia in his later work, from Forty Signs of Rain through to New York 2140 and Red Moon. (shrink)

continent. 1.1 (2011): 22-25. The Author gratefully acknowledges the financial support of CAPES (Coordenação de Aperfeiçoamento do Ensino Superior), Brazil. From the multifarious subdivisions of semiotics, be they naturalistic or culturalistic, the realm of semiotics of value is a ?eld that is getting more and more attention these days. Our entire political and economic systems are based upon structures of symbolic representation that many times seem not only to embody monetary value but also to determine it. The connection between monetary (...) and linguistic exchanges is self-evident: the former requires the latter and develops in direct relation to it. Creative experimentation and design of digital systems of value exchange are blossoming on the web. Dr. Gilson Schwartz, an economist turned media theorist and professor at the University of São Paulo, adopted the concept of Iconomics, originally created by Michael Kaplan, an author concerned with the linguistics of economic value. Empowering local communities and unlocking new levels of value creation and representation via digital technologies are the main goals of Dr. Schwartz’s projects, aiming at the re-designing of our relationship to the economic value of imagination and the social control of property. Schwartz is Assistant Professor at the School of Communication and Arts of the University of São Paulo, a former Chief Economist at BankBoston, Brazil and Advisor to the President of the National Social and Economic Development Bank (BNDES). FURTHER READING: Kaplan, Michael. “Iconomics: The Rhetoric of Speculation.” Public Culture . 15.3 (2003): 477-493. Renata Lemos-Morais: You have recently produced and directed a short documentary about Creative Currencies in Latin America. Could you tell us a bit about its process and its findings? Gilson Schwartz: The “Creative Currencies” project is a work-in-progress platform which unfolds as an action research agenda connected both to the production of audiovisual content and the development of social currency software. The initiative dates back to 2003 when I led an experimental project supported by the Presidency of Brazil. At that time, we issued paper currency in a small, touristic village in the Northeast Region which stimulated local cultural projects. But it was only in 2009 that the Central Bank of Brazil acknowledged “social currencies” as a legitimate economic agenda, calling for more debate at the I Financial Inclusion Forum. This year, the monetary authorities organized a second forum that also opened the room to discussions on mobile payment systems and new perspectives on poverty alleviation via State subsidies. The Ministry of Culture funded the “Creative Currencies” project in 2009-2010 and our next stage in this discovery process is to be supported by the National Social and Economic Development Bank (BNDES). In short, there is genuine interest among public officials in different areas and public funding for social currencies is on the rise in Brazil. However, after all these years we are still at a very early stage of research and practice. Some of the most successful initiatives (such as Banco Palmas) actually evolved out of local monetary creation to become correspondent banking operations for commercial banks and other financial groups. After eight years of price stability and social inclusion, Brazil stands out as a major opportunity for social experimentation, even the Grameen Bank is now entering the Brazilian market and many NGOs are geared towards different forms of entrepreneurialism in the base of the pyramid, riding solidarity economic models, microfinance and microcredit for local development. It is yet to be seen, however, whether these developments are just one more stage of “bankarization”, that is to say, an extension of regular banking services or actually a new form of social and symbolic self-determination at the local level. So far, the Central Bank of Brazil is open to new forms of credit and local finance as long as they are strictly territorial and very close to barter among the poor. In other words, whether the process of monetary creation could be made to fit an open source paradigm is yet to be seen. Community banking and social currencies might as well end up as just another channel for access to and use of banking services. The “Creative Currencies” project aims at promoting the discussion of more fundamental issues, such as the limits of central banking, the prospects for local financial development and the possibility of creating and managing financial icons as cultural assets. The purpose of this project is to produce short documentaries that will bear testimony to this evolving regulatory framework while inducing more discussion about the fundamental iconomic issues concealed in the process of money and wealth creation. RLM: What new potential is there in applying digital technologies to currency creation? GS: Globalization is a result of the virtualization of money, that is, the overcoming of illusions such as the “gold standard”. Money is an icon created by institutions, not on supposedly natural or material foundations but out of political and financial interests. The “dollar standard” is an outstanding evidence of this phenomenon and Kaplan´s paper, the first to use the expression “iconomics”, insists on the rhetoric and semiotic effects associated to a supposedly scientific model of money creation and management. This is a fundamental change that was perceived and discussed much before the digitalization of the world by unorthodox economists such as John Maynard Keynes since the early 20th century. The digitalization of global financial flows accelerated this immateriality and the creation of the Euro was yet another evidence of the political foundations of currencies. The banking establishment, however, is keen on the idea that scientific formulae hold the key to sound money creation. Keynesianism has been repeatedly associated to “inflationism” while the supposedly sound monetary policies of the Orthodoxy serve well the political and financial interests of a technocratic elite. Corporate media also serve this fictitious depiction of the monetary process despite the cyclical bust of monetary rules and financial regulations. The internet, however, has created numerous opportunities for the disintermediation in industries such as film, music and commodities. There is no reason to doubt that the financial industry can also be transformed by Peer-to-Peer (P2P) infrastructures. Money is media as well. Credit is but confidence. Once people realize that the distributed computing power of networks can also be the platform to weave new monetary and credit operations, there is room for grassroots emancipation out of the established owners of monetary institutions. So far, however, there has been a privatization of monetary management and there is not a clear path or model for the emergent (P2P) property democratization that is inherent to the internet. Digital assets, however, clearly have an inherent potential to escape central control and proprietary regulatory frameworks. RLM: How are social networks transforming the ways in which we exchange value? Do you believe that online influence and reputation might be translated into a new kind of currency? GS: The foundation for social currencies as envisaged by solidarity economics is the territory. Authorities are willing to concede local monetary creation as long as it is restricted to poor neighborhoods, as a proxy to barter. In this relevant but limited context, reputation, personal knowledge and informal ties form the matrix of local or “proximity” finance which are expected to keep credit and leverage to a sustainable level. Anything beyond that should and would lead to an integration of local finance into the established banking system. However, inasmuch as the internet promotes virtual territories and reputation is now subject to all sorts of digital manipulation and stardom becomes an everyday cultural process among teenagers and elders alike, the territorial “foundation” is substituted for more complex patterns of solidarity, cooperation and exchange that reach beyond the physical territory and even the “human.” Digital assets embody knowledge, technology, cultural and educational values that are exchanged at a global scale beyond the control of democratic States (Chinese-like intervention is the exception, not the rule). Hacktivism is unstoppable and so is monetary hacktivism. Especially in the Third World, mobile communications fast became conveyors of money transfers and other appropriation strategies. Banking and telecom sectors already battle for the control of these emerging markets and, as a matter of fact, have so far contributed to the containment of these processes. Governments serve these moguls and have usually adopted a wait-and-see attitude. If open source hardware and grassroots social movements combine to challenge these proprietary battles, then social networks may evolve into new forms of social capital and thus form the ground on which to design and implement social currencies. The global financial crisis, as well as the dollar demise, are an event of such a proportion that social networks may open the path for emancipator subjects to seize the opportunity. RLM: What are some of the social experiments that you think are revolutionizing the way in which value is exchanged? GS: There is a broad evolution of economic systems towards the valuation of intangible assets such as knowledge, reputation and sustainability. There are many examples of local as well as global events that call the traditional systems of exchange into question, from carbon credits to educational bonuses, digital barter frameworks and locally based solidarity and fair trade networks. These emerging examples, no matter how different in nature or scale, represent a challenge to the traditional value creation schemes and theories which are based on use and exchange value, supply and demand. This is not to say that utility and labour or scarcity are to be totally dismissed, but there is now an emerging perception that value is also a function of behavioral codes, symbolic patterns and the energy of institutional frameworks. The plasticity of digital platforms is relevant insofar as intellectual property becomes the central source of value creation. But when you discuss the property rights of public goods such as the environment or basic social rights (of minorities or localities), then a new paradigm seems to emerge. RLM: Are gaming and online storytelling digital practices that might have an impact on the way new currencies are created and developed? GS: “Play money” has been one of the early and most intriguing phenomena associated to the diffusion of virtual worlds. These virtual currencies have also been prone to “boom and bust” dynamics, speculation and pure theft (Second Life scams were common and led to “intervention” by the owners of the game). Storytelling is a major source of value, that is, the value of attention and the markets for audience. There are plenty of private monies created and managed by corporate entertainment groups, telecom operators (via mobile virtual network operators) and marketing frameworks. The casino economy, as already depicted by Keynes and other unorthodox economists, is always storytelling about future states of the world, confidence building and leverage of animal spirits. The novelty of current events is not the fictitious nature of any form of capital, but the potential for digital democratization of controls over the imaginary nature of value creation. But this is just a potential, a possibility, a figment that more often than not is appropriated by centralized and opaque private powers. The game industry is a testbed for new connections between storytelling and money creation. RLM: Monetary value was originally connected to the scarcity of precious metals, such as gold. Our entire monetary system seems therefore to function according to a logic of scarcity. Do you believe it is possible to reverse this logic into a logic of abundance? GS: The gold standard was a fiction itself, the “scarcity” is always produced by institutions that regulate confidence and access to credit. The key issue is not to fabricate abundance, but to question the institutions which produce scarcity out of any standard, gold or whatever. Central banks are at the service of private banks in the creation and management of scarcity. RLM: The promise that nanotechnology holds for our future is one of radical abundance (or so say transhumanists). The possibility of creating any kind of material substance through nanoengineering seems each day more feasible. What would this possibility entail in terms of systems of value exchange? GS: Nanotechnology, environmental concerns and grassroots appropriation of distributed knowledge are the frontiers of a new horizon of energy creation and management. Social groups in charge of managing scarcity for the sake of wealth and power concentration must be held accountable for the destruction of our future. Once this key political conundrum is accounted for, new systems of value exchange and even a non-mercantile society will come into existence. Revolutionary theorists such as Marx envisaged transformation via the extreme clash of contradictions between capital and labour. This approach has never led to a change in the systemic logic of scarcity for the sake of social control. We are once again facing the threshold of large scale societal change, but the outcome of the current crisis should come from our imagination, not from yet another paradox of abundance and scarcity. As long as we remain attached to the materiality of value, the illusion of freedom will but reinforce the massive manipulation of necessity. RLM: What do you think is the role of crowdfunding in this context? GS: Crowdsourcing as well as crowdfunding are examples of the peer to peer opportunities that come along with distributed computer power. However, the power structure behind wealth and scarcity creation may or may not be changed by crowd management. But it should not be taken at face value, so to speak. The stock market of course is an early form of crowdfunding without calling into question the proprietary framework of the companies offering their investment projects to the market. Any market is a form of crowdsourcing, that is to say, of distributed forms of supply and demand matchmaking. The wealth of networks, however, depends on the contractual ecosystem, the institutional framework, the channeling of social imagination, not on the purely quantitative distribution of bids and offers. I see economics as supply, demand and code. Once you have access to the code, once openness becomes part of the game, then there is a chance of crowd behavior becoming collective intelligence and sustainable imagination. RLM: Is the development of digital currencies headed towards a pluralistic ecology in which many micro currency systems co-exist, or is it penetrating the mainstream monetary system? If it is affecting the mainstream financial system, what would be its effect in the long-term? GS: The same issue is at stake both at local and global levels. The global system is, as a matter of fact, an unstable ecosystem of “micro currencies” whereas the dollar has so far exerted an overwhelming influence. Local currencies and private monies coexist with national currencies only to the extent that the Central Bank admits, for instance, that grassroots monetary emissions remain territorial and strictly connected to poverty. However, the question of how new developments in digital technologies and nanotechnologies might alter not only our current monetary systems but also our understanding of value in itself, is still an open question. (shrink)

What is the fate of philosophy as the spiritual weapon of the proletariat in changing reality when it is clear that the communist experiment has failed? The question pertains above all to the heritage of Marx's theory, not to Marxism and Marxism-Leninism. The latter are party-inspired and -dominated and aspire to be schools of philosophy, whereas Marx did not seek to create a philosophy but to realize philosophy in the material world. For Marx, philosophy and emancipation go hand in hand: (...) man is emancipated when philosophy is realized in the world. The fate of the Marxian idea is set off against the development of dialectical materialist philosophy and Marxist social theory. In this way, the ground is laid for the conclusion that what is properly philosophical in Marx is restricted to a philosophy of history attendant on a theory of economic development. The conclusion is subject to the caveat that as yet unpublished notes by Marx about the true nature of dialectic may in fact reveal a more far-reaching philosophical conception. The realization of philosophy seems like a romantic illusion against the background of the events in Germany in autumn 1989. The working masses have elected capital as the basis of their future social existence, thus putting paid to the Marxian theme of class struggle. The fundamental conclusion is that Marx's vision of the task of philosophy is vitiated by a deep-rooted ambivalence: on one hand it is the 'head' of emancipation but on the other hand it neglects, indeed supresses, historical details, as shown by the example of the dialectic of class struggle and class exchange. This kind of suppression, neglect, comes to the fore in Marx's writing whenever he substitutes his romantic vision of the deprived proletariat for social science. This blind eye to detail is at the root of the later ideologization of Marxist theory and its subordination to local party interests. (shrink)

This the first part of a study (in two parts) devoted to Piketty’s theses on the history of capitalism. A summary of Pikety’s analysis is first presented, concerning the dynamics of total wealth (measured as a ratio to national income) and its components, and the tendency of wealth and income inequalities within major capitalist countries. The amplitude of the fall of total wealth in the United-Kingdom and France during World War I is questioned. Piketty explains the profile of these variables (...) concerning wealth and wealth inequalities in reference to historical mechanisms in which the rate of growth of output, the rate of savings, and the return on wealth are considered. The relevance of these mechanisms is basically questioned. We interpret the third component of wealth, other domestic capital, as a form of the capital of enterprises and substitute an alternative, more performing, model to account for the profile of this variable. (shrink)

The article aims to determine socio-economic causes of the emergence of an oligarchy and its functions in the Ukrainian economy in the context of postmodernism. The essence of postmodernism is worldview-philosophical, economic and political systems collapse. This is a kind of opposition to modernism. As for the economy during postmodernism, namely its formation, the changes relate to the view of social relations and human activity. So, oligarchic Ukraine is trying to solve its problems personally. However, a holistic view on the (...) concept of oligarchy is falling apart, since the dominance of financial and industrial groups in the economy of Ukraine monopolizes entire economic sectors, and authorities of different levels in different ways protect not so much the interest of the Ukrainian people, but the interest of its richest layer. Most Ukrainian oligarchs were able to earn their capital in the 1990s, using any opportunity. It was quite cheap redistribution of state property, friendship with the authorities, seizure of someone else’s property. At the same time, oligarchs successfully used imperfect legislation. They simply rewritten it “for themselves”, repeatedly using “substitute” politicians. It is concluded that at the present stage of Ukraine’s development, the oligarchy has not only ceased to fulfill its stabilizing function, but also turned into the main obstacle to modernization processes. Therefore, the current civilization choice of Ukraine, in particular, is important paradigm of comprehension and strategy of action. (shrink)

In the Preface to Negative Dialectics, Adorno states that the primary ambition of the book is to find a substitute for the “supra‐ordinated” concept and to “break through the deception of constitutive subjectivity.” For a book whose ambition is to renew the Marxist idea of critique, these are puzzling claims. The notions to be criticized are Kant's in The Critique of Pure Reason ; Adorno, from his earliest studies with Siegfried Kracauer, had taken Kant's theoretical philosophy as expressing the deepest (...) conceptual and normative commitments of capital. This chapter attempts to specify what the expressive relation between idealist conceptuality and capital is; why Adorno took the transcendental unity of apperception to express a society that was unconscious about itself; and precisely how negative dialectics is throughout key to a critique of Kant's philosophy. (shrink)

As the sensitivity to corporate social responsibility continues to grow, the goal of enterprises has expanded beyond the sole pursuit of economic value. Corporate social goal orientation has therefore come to occupy a central position in entrepreneurs’ psychology and the transition away from a market-only economy. This study uses secondary data from 4,288 samples of 725 Chinese-listed companies from 2009 to 2020 to explore the driving factors in social goal orientation based on the characteristics of sample companies and their industry (...) groups from the perspective of stakeholder relationships. The results can be summarized as follows: there is an inverted U-shaped relationship between government stakeholder relationships and social goal orientation, and there is a significant positive relationship between financial stakeholder relationships, market stakeholder relationships, and corporate social goal orientation. The correlation between single-dual stakeholder relationships and social goal orientation is not consistent. In light of the nature of the roles of government and the market, the correlation between the government–market dual relationship and corporate social goal orientation is not significant. However, there is a significant correlation between the finance–government dual stakeholder relationship and social goal orientation; that is, the dual stakeholder relationship maintains the existence of non-institutional capital and corporate financial capital. Moreover, there is no significant correlation between the market–finance dual relationship and corporate social goal orientation, and there is substitutability between market and financial stakeholder relationships. With the deepening of our understanding of CSR, the core goal of enterprises is no longer confined to the pursuit of economic value, and their social goal orientation has come to be regarded as a major driving force in sustainable development. This study enriches the research on the relationship between stakeholder relationships and shows that stakeholder relationships also have important significance to both achieving corporate goals and shaping entrepreneurs’ psychology. (shrink)

All humanities, sociology included, are meeting places of stories told about stories. This circumstance casts humanities in a situation radically and irretrievably different from that of `hard sciences', which cast their objects as nature. Through most of its history sociology was oriented towards collectively produced and maintained order: its task was to enlighten the legislators and supervisors of order. With the substitution of life-politics for Politics with a capital `P', deregulation and privatization of ordering activity, enlightenment of autonomous (...) subjects moves to the centre of sociological vocation. (shrink)