Can firms overcome credit constraints with a corporate culture of high integrity? We empirically address this question by studying their investment–cash flow sensitivities. We identify firms with a culture of integrity through textual analysis of public documents in a sample of Chinese listed firms and also through corporate culture statements. Our results show that firms with an integrity-focused culture have lower investment–cash flow sensitivity, even after we address endogeneity concerns. However, we also find that for the (...) culture to reduce the investment–cash flow sensitivity, external stakeholders must be able to verify this culture through a low information asymmetry environment. Overall, our findings show that a corporate culture of high integrity can mitigate a firm’s external transaction costs. (shrink)

Information is a very important factor in various fields of activity of the contemporary people. In any economic activities as well as in the activities of the economic entity the information is used for decision-making. The information may be economic, legal, scientific and otherwise, but in order to manage economic processes the most important is economic information. The greatest part of this information is provided by accounting both financial and management. In every company as in a separate accounting unit, a (...) lot of economic transactions and events occur over the year, constantly recording the movement of money, the amount of revenue and costs. Periodically, in the activities of enterprises, institutions or organizations it is necessary to summarise all the available economic information and calculate performance results, to show the remains of assets, equity and liabilities. Financial statements of the company in the market economy conditions is the main source of information about the assets, liabilities, capital, profits and cash flows. Accumulated and grouped financial information of companies, institutions, or organizations in the form of financial statements periodically, but not less often than at the end of the financial year, is is presented to all users who are interested in it, since the annual financial accounts must be provided by all companies, enterprises or organisations with legal status. Many Lithuanian authors, dealing with financial statements, note that the current forms used for financial statements do not provide sufficient information to meet the users‘ needs in constant competitive conditions and, therefore, there are a lot of discussions how these statements could be improved. When analysing financial accountability, problematic aspects of assessment of financial statements elements are faced. Both Lithuanian and foreign authors pay little attention to the assessment analysis of financial statement elements, because for businesses both in Lithuania and abroad it is rather complicated to assess properly the elements of the financial statements by assessment methods available in the literature in such a way that they would reflect the state of the company truly and correctly. This time, however, the figures in the financial statements is one of the most important sources of information for economic state assessment of companies, enterprises or organisations and for business management solutions. Accounting professionals and other users, when analysing the financial statements, may form opinions and draw conclusions about the profitability of the core business of the analysed entity, the ability to cover its short-term and long-term liabilities, as well as about long-term and short-term assets, product manufacturing and sales situation and changes during the reporting period, and relying on these data decide on the reliability of the company, development and investment opportunities. (shrink)

This study provides novel evidence of the impact of corporate social responsibility (CSR) on investment sensitivity to cash flows. We posit that CSR affects investment–cash flow sensitivity (ICFS) through information asymmetry and agency costs, commonly viewed as the two channels through which investment responds to the availability of internal cash flows. We find that CSR performance leads to a decrease in ICFS. We further find that ICFS decreases (increases) when CSR strengths (concerns) increase. Finally, we find (...) that the effect of CSR on ICFS is driven by the areas Community, Diversity, and Human Rights. In sum, the findings of this study stress the relevance of CSR—in particular, of CSR activities that extend beyond compliance behavior and reflect what is desired by society—in reducing market frictions and improving firms’ access to financial capital. (shrink)

This study provides novel evidence of the impact of corporate social responsibility (CSR) on investment sensitivity to cash flows. We posit that CSR affects investment–cash flow sensitivity (ICFS) through information asymmetry and agency costs, commonly viewed as the two channels through which investment responds to the availability of internal cash flows. We find that CSR performance leads to a decrease in ICFS. We further find that ICFS decreases (increases) when CSR strengths (concerns) increase. Finally, we find (...) that the effect of CSR on ICFS is driven by the areas Community, Diversity, and Human Rights. In sum, the findings of this study stress the relevance of CSR—in particular, of CSR activities that extend beyond compliance behavior and reflect what is desired by society—in reducing market frictions and improving firms’ access to financial capital. (shrink)

The purpose of the study is to reveal theoretical and methodological approaches to optimizing the formation of cash flows of enterprises. The article presents an analysis of the process of integrating the optimization of the company's cash flows into the overall sequence of their management, as well as the conditions for the application of complex measures for subsequent financial recovery. The scientific novelty of the obtained results lies in the development and refinement of theoretical provisions, schemes for optimizing (...) cash flows and determining the directions for evaluating the optimization of cash flows. As a result, the main directions of optimization of cash flows are identified. As a result, it is revealed that the optimization process is formed on the basis of a logical sequence, the process of implementing management decisions regarding the optimization of the cash flows of the enterprise is justified. (shrink)

We consider future cash flows that are contingent both on dates in time and on uncertain states. The decision maker (DM) values the cash flows according to its decision criterion: Here, the payoffs’ expectation with respect to a capacity measure. The subjective measure grasps the DM’s behaviour in front of the future, in the spirit of de Finetti’s (1930) and of Yaari’s (1987) Dual Theory in the case of risk. Decomposition of the criterion into two criteria that represent (...) the DM’s preferences on uncertain payoffs and time contingent payoffs are derived from Ghirardato’s (1997) results. Conditional Choquet integrals are defined by dynamic consistency (DC) requirements and conditional capacities are derived, under some conditions on information. In contrast with other models referring to DC, ours does not collapse into a linear one because it violates a weak version of consequentialism. (shrink)

This paper investigates the effect of corporate social responsibility (CSR) on firm value and seeks to identify the source of that value, by disaggregating the effects on forecasted profitability, long-term growth and the cost of capital. The study explores the possible risk (reducing) effects of CSR and their implications for financial measures of performance. For individual dimensions of CSR, in general strengths are positively valued and concerns are negatively valued, although the effect is not universal across all dimensions of CSR. (...) We show that these valuation effects are principally driven by CSR performance associated with better long run growth prospects, with an additional minor contribution made by a lower cost of equity capital. (shrink)

It has been widely assumed and proven that a firm’s research and development investment is limited if the availability of cash flow is constrained. The purpose of this study is to verify the opposite proposition: whether firms invest heavily in R&D when more cash flow is available. This paper discusses the heterogeneous relationship between cash flow from different sources and the R&D investment of firms. The study divides the firm’s cash flow into (...) three categories according to the business activities that generate firm finance: cash flow from operating activities, cash flow from investing activities, and cash flow from financing activities. On this basis, a dynamic R&D investment model is constructed, and the relevant data for Chinese listed firms are used for the empirical research. The study finds that Chinese listed firms do not necessarily spend more cash on R&D investment, even if the availability of cash flow is not constrained. For young firms, CFO and CFI do not significantly correlate with R&D investment, and CFF significantly negatively correlates with R&D investment. For mature firms, the correlations between cash flow generated from different activities and R&D investment are nonsignificant. (shrink)

Master corporate valuation: the financial art and science of accurately valuing any business. George Chacko's Applied Corporate Finance: Valuation is the first valuation book to combine true academic rigor with the practical skills you need to successfully value companies in the real world. Renowned financial instructor and investment manager George Chacko focuses on concepts, techniques, tools, and methodologies that lead directly to accurate valuations, and explains each key concept with up-to-date examples. One step at a time, Chacko develops a practical, (...) rigorous approach to conducting valuation, addressing the projection of financial statements, calculation of free cash flows, risk-adjusted cost of capital, and leading methodologies including WACC, flow-to-equity, and Adjusted Present Value (APV). By avoiding elementary content that financial managers, analysts, and MBA-level finance students already know, this book can focus more tightly on the realistic techniques and advanced issues practitioners are actually concerned with. Coverage includes: market value and accounting balance sheets, cash cycles, the DuPont formula, financial distress, and capital as a risk buffer; constructing pro-formas, projecting and bridging financing shortfalls, and planning sustainable growth; sources/uses of cash, cash income statements, pro-forma balance sheet changes, working capital, depreciation, and capital expenditures; risk-free cost, investment risks, and diversifiable vs. idiosyncratic risks; NPV, APV, Optimal Debt Ratios, Capital Structure Dynamics, Terminal Value Calculations, and more. For all finance professionals, analysts, and MBA students who need to sharpen their skills in valuation and related areas of corporate finance, accounting, or strategic planning. (shrink)

This investigation proposes a conceptual framework for measurement necessary for an analysis of household finance and economic development. The authors build on and, where appropriate, modify corporate financial accounts to create balance sheets, income statements, and statements of cash flows for households in developing countries, using an integrated household survey. The authors also illustrate how to apply the accounts to an analysis of household finance that includes productivity of household enterprises, capital structure, liquidity, financing, and portfolio management. The conceptualization (...) of this analysis has important implications for measurement, questionnaire design, the modeling of household decisions, and the analysis of panel data. (shrink)

This study examines how local Protestant belief, as one type of social norms, affects corporate cash policies. We find that firms located in areas with more Protestants hold less cash reserves. The influence of local Protestant belief on cash holdings is more profound for firms with weak corporate governance and firms with one geographic segment. In addition, we find that the difference in cash deployment is reflected in the difference in firms’ investment and payout policies. Overall, (...) our study shows that local Protestant belief is an important factor in determining corporate cash policies and helps to mitigate the potential free cash flow problem. (shrink)

The presumption is that a broker executing a stock trade for a retail investor will get the investor the best possible price execution for the transaction. In fact, the broker often sells the retail investor’s trade to an intermediary for cash payment. The broker’s motivation to generate dealer profits seems to overcome the broker’s fiduciary responsibility to obtain the best execution price for the customer, raising ethical questions. Purchasers and internalizers of order flow in the market may cause (...) prices quoted on the NYSE to deteriorate, making all investors worse off. (shrink)

Cell membranes experience frequent stretching and poking: from cytoskeletal elements, from osmotic imbalances, from fusion and budding of vesicles, and from forces from the outside. Are the ensuing changes in membrane tension localized near the site of perturbation, or do these changes propagate rapidly through the membrane to distant parts of the cell, perhaps as a mechanical mechanism of long‐range signaling? Literature statements on the timescale for membrane tension to equilibrate across a cell vary by a factor of ≈106. This (...) study reviews and discusses how apparently contradictory findings on tension propagation in cells can be evaluated in the context of 2D hydrodynamics and poroelasticity. Localization of tension in the cell membrane is likely critical in governing how membrane forces gate ion channels, set the subcellular distribution of vesicle fusion, and regulate the dynamics of cytoskeletal growth. Furthermore, in this study, it is proposed that cells can actively regulate the degree to which membrane tension propagates by modulating the density and arrangement of immobile transmembrane proteins. Also see the video abstract here https://youtu.be/T6K7AIAqqBs. (shrink)

An "avalanche," a "flood"—these terms have been used to describe not natural disasters but the money flowing to victims of the Sept. 11 terrorist attacks. At the time of writing, the total given to public appeals has reached $1.3 billion. Of this, according to a New York Times survey, $353 million has been raised exclusively for the families of about 400 police officers, firefighters, and other uniformed personnel who died trying to save others. That comes to $880,000 for each family. (...) Families of victims who were not in uniform will receive much less, because the remaining funds must be spread over a much larger number of people, including those who have lost their jobs because of the attacks. (shrink)

An "avalanche," a "flood"—these terms have been used to describe not natural disasters but the money flowing to victims of the Sept. 11 terrorist attacks. At the time of writing, the total given to public appeals has reached $1.3 billion. Of this, according to a New York Times survey, $353 million has been raised exclusively for the families of about 400 police officers, firefighters, and other uniformed personnel who died trying to save others. That comes to $880,000 for each family. (...) Families of victims who were not in uniform will receive much less, because the remaining funds must be spread over a much larger number of people, including those who have lost their jobs because of the attacks. (shrink)

That this is one of the most distinguished books in the excellent Bradford Books cognitive science/philosophy series is suggested by the March 1983 issue of Behavioral and Brain Sciences, in which we find a precis of the book, some twenty commentaries, and Dretske's replies. Physicalists and anti-physicalists in psychology have both stressed the importance of "top-down" strategies and have debated, prospectively, about the likelihood that we eventually will have suitable reductions, or explanatory instantiations, of psychological generations in neurophysiological terms. Dretske (...) takes the more straightforward approach, starting with an avowedly physical notion of information and then trying to show how one can make, building on this foundation, a reasonable construal of knowledge, perception, and belief. Dretske starts with the following information-theoretic specification of a signal's information content: a signal r carries the information that s is F = the conditional probability of s's being F, given r, is l. Thus, to use Dretske's humble example, "My gas gauge carries the information that I still have some gas left, if and only if the conditional probability of my having some gas left, given the reading of the gauge, is l." The parenthetical clause makes the causal character of this analysis clear: the state of the source is related by physical laws to the occurrence of the signal--the gas in the tank causes the gauge reading. Insisting on the conditional probability of l has the advantage of preserving the properties of certainty, transitivity, and addition that we associate with knowledge. If the gas gauge does carry the information that my tank has gas, then my tank must have gas. If my statement that my gauge indicates gas carries the information that it does so indicate, then information flows intact from signal to signal. And finally, if the signal carries the information that s is F, and also carries the information that s is G, then it carries, at the same level of probability assigned each, the information that s is F and G. Now we can, eventually, say that K knows that s is F = K's belief that s is F is caused by the information that s is F. The "eventually" part is important, for what is most instructive and provoking about this book is the way in which Dretske lays out the steps in constructing viable construals of knowledge, perception, and belief out of the root notion of information.--Justin Leiber, The University of Houston. (shrink)

This study examines the R&D investment behaviour of different types of family-controlled firms with the moderating role of ownership discrepancy between cash-flow rights and excess voting rights by using the sufficiency conditions’ theoretical framework of ability and willingness developed by De Massis. It uses data from family firms that have issued A-shares from 2008 to 2018. They used pooled OLS regression for data analysis and Tobit regression for robustness checks. This study classifies family firm types into two categories, (...) namely, the lone-controller family firms (LCFFs) and the multi-controller family firms (MCFFs), with each being further classified as “excess” or “no excess” voting rights. Both LCFFs without excess voting rights and MCFFs with excess voting rights have the “ability” and “willingness” toward R&D investment. LCFFs with excess voting rights and MCFFs without excess voting rights only have the ability but low willingness to invest in R&D. The study also establishes that Chinese family-controlled firms are heterogeneous toward risky investment. To the best of our knowledge, this study is the first to differentiate Chinese family firms by their unique ownership structure characteristics in investigating the effect of the family firm structure on R&D investment. The study is a novel attempt to test the willingness and ability framework of LCFFs and MCFFs. Previous studies based on agency theory have tacitly assumed that ability and willingness exist in family-controlled firms. However, this study challenges this implicit assumption. (shrink)

The seed system is a major component of traditional management of crop genetic diversity in developing countries. Seed flows are an important part of this system. They have been poorly studied for minor Andean crops, especially those that are propagated vegetatively. We examine the seed exchanges of Oxalis tuberosa Mol., a vegetatively propagated crop capable of sexual reproduction. We studied the seed exchanges of four rural communities in Candelaria district at the international and local levels, emphasizing the spread of new (...) sexually-produced genotypes through these exchanges. Interviews with 44 farmers generated socioeconomic, agronomic, crop diversity and seed exchange information, and data on the potential incorporation of new sexually-produced genotypes in the crop germplasm. We interviewed merchants to evaluate the input and output of genetic diversity in the communities studied. Results showed a positive effect of the farmers’ wealth on the diversity cultivated and on seed exchanges. Most seed exchanges occurred at market, creating a distinction between cash and self-consumption landraces. Cash landraces were intensively exchanged; self-consumption landraces were isolated at the farmer level and prone to genetic drift and complete loss. Merchants exported seeds of cash landraces across Bolivia and into Peru and Argentina. New sexually produced genotypes are less incorporated into cash landraces than in self-consumed landraces. However, new genotypes incorporated into cash landraces are diffused faster and better, being more intensively exchanged. We propose conservation strategies that can be applied to other vegetatively propagated and minor Andean crops. (shrink)

Many now accept the thesis that norms are somehow constitutively involved in people's contentful intentional states. I distinguish three versions of this normative thesis that disagree about the type of norms constitutively involved. Are they objective norms of correctness, subjective norms of rationality, or intersubjective norms of social practices? I show the advantages of the third version, arguing that it improves upon the other two versions, as well as incorporating their principal insights. I then defend it against two serious challenges: (...) (1) If content is constituted by others' normative judgments, how can content be causally efficacious? (2) This account appears to make having contentful thoughts a matter of people having contentful thoughts about your thoughts. That appears to be viciously circular and so can't be naturalistic. (shrink)

This study investigates financial correlates of corporate philanthropy in Fortune 1000 companies using structural equation modeling. The results suggest that cash flow (one of the most discretionary types of organizational slack) has a significant impact on a firm’s cash donations to charitable causes, but monetary donations do not affect firm financial performance. These findings support the accepted view of corporate philanthropy as a discretionary social responsibility and the traditional thinking about firm giving in the business and society (...) literature—that doing well enables doing good. Contrary to some contemporary thinking, the findings imply no significant effect on profits from corporate generosity. (shrink)

Representation is a pivotal concept in cognitive science, yet there is a serious obstacle to a naturalistic account of representations’ semantic content and intentionality. A representation having a determinate semantic content distinguishes correct from incorrect representation. But such correctness is a normative matter. Explaining how such norms can be part of a naturalistic cognitive science is what I call the normativity problem. Teleosemantics attempts to naturalize such norms by showing that evolution by natural selection establishes neural mechanisms’ functions, and such (...) functions provide the normativity requisite for a determinate semantic content. I argue that such attempts fail, because when specifying functions, and thus semantic contents, that are determinate enough to enable misrepresentation, they must tacitly appeal to human normative practices, especially the practice of giving intentional states as reasons for actions. I present a different tactic: using evolution by natural selection to avoid rather than solve the normativity problem. Representations’ semantic contents and their intentional targets are irreducibly normative. Semantics and intentionality are constituted within human normative practices. However, evolution by natural selection can be used to naturalistically explain the transition from a world without human beings and human normative practices — and thus without any distinction between thoughts that may be called “correct” or “incorrect” — to a world in which such human practices and distinctions are commonplace. (shrink)

The Hypothesis of Extended Cognition (HEC)—that many cognitive processes are carried out by a hybrid coalition of neural, bodily and environmental factors—entails that the intentional states that are reasons for action might best be ascribed to wider entities of which individual persons are only parts. I look at different kinds of extended cognition and agency, exploring their consequences for concerns about the moral agency and personal responsibility of such extended entities. Can extended entities be moral agents and bear responsibility for (...) actions, in addition to or in place of the individuals typically held responsible? What does it mean to be autonomous when one’s cognition is influenced and supported by a milieu of environmental factors? To answer these questions, I explore strong parallels between HEC’s critique of individualism in cognition, and feminist critiques of individualist accounts of self, agency, and autonomy. This relational and social conception of autonomous agency, as scaffolded and supported (or undermined and impaired) by a milieu of social, relational, and normative factors, has important lessons for HEC. Drawing together these two visions of distributed and decentralized aspects of personhood highlights how cognition, action, and responsibility are inextricably linked. It also encourages a reconceptualization of all cognition and all concerns about responsibility for actions, not simply as sometimes extended around individuals, but as fundamentally communal, social, and normative, with individual cognition and individual moral responsibility being derivative special cases, not the paradigm examples. Individuals are merely one of many possible loci of cognition, action, and responsibility. (shrink)

This paper proposes a cognitive linguistic explanation of the unusual narrative construal of time as moving backwards. It shows that backwards time in narrative involves setting up an alternative space in which a second narrative is constructed simultaneously, resulting in a viewpoint hierarchy which postulates four viewpoints on each discourse statement. The paper draws together research on conceptual metaphor, mental spaces theory and viewpoint multiplicity, bringing it to bear on discourse fragments. The majority of these are taken from Martin (...) Amis’s Time’s Arrow (Amis, Martin. 2003 [1991]. Time’s Arrow. London: Vintage.) (a logically consistent and linguistically revealing text), but the discussion is contextualised with further examples. It is argued that the causal construal implied by narrative is not limited by our phenomenological experience, as other studies (e.g., Evans, Vyvyan. 2013. Language and time: A cognitive linguistics approach. Cambridge: Cambridge University Press.) might suggest, but is instead prompted by conceptual re-interpretation of deictic markers in the discourse. The analysis focuses on causal construal, negation (especially causal catachresis), and alternativity. It shows how linguistic features at the sentential level generate top-down reorganization of both episodic structure and discourse meaning, and how this relies on multiplicity of viewpoint and a conceptual “zooming out” prompting the perception of irony. (shrink)

This paper investigates the idea of clinical autonomy. Whilst there is a considerable literature on moral autonomy there is very little on clinical autonomy except as a sociological phenomenon. Using the results of interviews with Community Psychiatric Nurses in England, the three main theories that they have about clinical autonomy are examined. It is argued that there are substantial problems with these theories and an alternative way of understanding clinical autonomy is proposed, the idea of contractual space.

Agricultural decision making is characterized by two challenges common to multiple arenas: linking science to decision making and linking science and decision making across multiple levels. The U.S. agricultural research, education, and extension system was designed to address these challenges. By investigating this system, this study deepens the understanding of science and decision making, specifically exploring the notion of boundary organizations in two significant ways. First, it provides a preliminary test of the hypothesis that boundary organizations mediate between the shifting (...) domains of science and policy, finding that they are instrumental in creating and maintaining an integrated system of assessment and decision making for addressing depletion of the High Plains Aquifer. Second, it extends the concept of boundary organization beyond the science-policy dimension to incorporate the dimension of levels of organization—not only bridging science and policy but linking science and policy across different levels. (shrink)

This paper is an "ordinary language" analysis of the philosophical discussion of visual perception in the context of Twentieth Century British "sense datum" theorists, primarily G.E. Moore. -/- The title of the paper is derived from A.J. Ayer's "argument from illusion", which also forms part of the context of this paper. Both Moore and Ayer believed in sense datum theory, but Moore provides an interesting illustration that is intended to clarify (and also prove) sense datum theory in his paper, "A (...) Defence of Common Sense". Moore invites us to inspect his hand. I try to follow suit, but succeed only in falling out with the viewpoints of both Moore and Ayer. (shrink)

Typical hermeneutical approaches to the Deuteronomic Code, and to scriptural legal codes more generally, attend to genre either for the sake of historical-critical concerns as an end in themselves, or as a gateway to abstracted content. This article argues, conversely, that the genre of the code is not disconnected from its content, and that its form—imaginative, pragmatic propositions based on communal hope—can and should be imitated in the practice of theological ethics. As best seen in Deuteronomy 15, the communicative genius (...) of the code is that it (1) imagines a specific, viable future, (2) empowers moral agency, (3) forges communal identity, and (4) addresses unique historical situations. Appropriating the genre, rather than the content, thus has unique potential to give traction to modern ethical scholarship through conscious, kerygmatic contingency. (shrink)

This paper investigates the idea of clinical autonomy. Whilst there is a considerable literature on moral autonomy there is very little on clinical autonomy except as a sociological phenomenon. Using the results of interviews with Community Psychiatric Nurses in England, the three main theories that they have about clinical autonomy are examined. It is argued that there are substantial problems with these theories and an alternative way of understanding clinical autonomy is proposed, the idea of contractual space.

Since people can often successfully interpret utterances that flout or ignore conventions, Davidson concludes that shared conventions are neither necessary nor sufficient for linguistic interpretation. This conclusion is based on an overly narrow conception of what it is to know, and to share, a language. Rather than, as Davidson argues, simply interpreting the meaning the speaker intends their words to be interpreted as having (and their words’ truth conditions), successful interpretation requires interpreting the illocutionary act the speaker intends to be (...) interpreted as performing (and the act’s felicity conditions). This change in focus highlights the need for many types of shared conventions, beyond the conventional meanings of words that Davidson considers and dismisses as unnecessary. When any one convention is ignored or flouted, interpretation is possible because the apparently unconventional utterance nonetheless conforms to a host of other shared conventions. Conventions are necessary for linguistic interpretation. (shrink)

Despite the increase in global research on health inequalities, more needs to be done to strengthen efforts to inform local interventions. In this article, we ask what determines the local capacity to engage in research on health inequalities. A bibliometric analysis identified Spain as the 10th highest global contributor to this research field (1966–2015), yet a significant proportion of this production was affiliated to just a few institutions in Barcelona. How and why has the city produced so much health inequalities (...) research over four decades? A realist explanatory case study was conducted to test and refine six causal mechanisms, and identify the contextual conditions that might have activated them to generate this outcome. Data was triangulated from 10 semi-structured interviews, and scientific and grey literature. Our findings confirmed that several of our proposed mechanisms - functioning under certain conditions over time - explain the large volume of health inequalities research in Barcelona. Based on these findings, key lessons from the city's experience are suggested. Further research is needed on this topic. (shrink)

Wittgenstein's notorious sample of a ‘complete primitive language’ is often thought to be closer in kind to animal forms of communication than human language. Indeed, it has been criticised on precisely these grounds. But such debates make little sense if we take seriously Wittgenstein's idea that language is a family resemblance concept. So, rather than argue that the builders’ game ‘really is a language’, I propose to turn the debate on its head and welcome the comparison. By changing our perspective (...) in this way, I suggest that we can see that the learning of language is crucially dependent on forms of communication that are animal in nature. I then discuss how these lessons might shed light on empirical research into both the ontogenetic and phylogenetic origins of linguistic communication. (shrink)

Can victims of the oracle paradox, which is known primarily through its unexpected hanging and surprise examination versions, extricate themselves from their difficulties of reasoning? No. For they do not, contrary to recent opinion, commit errors of fallacious elimination. As I shall argue, the difficulties of reasoning faced by these victims do not originate in the domain of concepts, propositions and their entailment relations; nor do they result from misapprehensions about limitations on what can be known. The difficulties of reasoning (...) flow, instead, from conflicts that arise in the practical dimension of life. The oracle paradox is in this way more evocative of problems faced in the theory of computation than it is like the celebrated Russell’s paradox. (shrink)