Abstract This article raises a worry concerning Ernest Sosa's way of solving the problem of epistemic circularity. Sosa's solution to the problem of epistemic circularity relies on the following claim of sufficiency: for S to deserve to be credited for his true belief, it is sufficient that his belief is, in a sense to be made clear, ?apt?. I argue that this solution undersells the notion of credit. I present three kinds of cases in which the attribution of (...) class='Hi'>credit to a believer requires more than the possession of apt beliefs and I defend these cases against possible misinterpretations. (shrink)

This paper is about the shaping of student workload preferences by educational institution design, and how this creates distrust by staff in those preferences when staff are asked to use those preferences in re-designing the courses they teach. It is a case study of the construction of student workload preferences by the context of a particular higher education institution. In more detail: Failures to standardize the work required to receive equal credit points from different courses make credit points (...) unfit for their official purposes. Moreover, increasingly, institutions are found where students are required to take a high number of courses simultaneously. This study aimed to identify plausible hypotheses about how high course-loads and standardization failure interact by examining credit point standardization failure at an Estonian university where students are required to take twice as many courses as their peers at better performing universities. The hypotheses supported by the study are: the high course-load both made standardization failure useful to students seeking to manage the high course-load and contributed toward standardization failure because it rendered students’ assessments of workload untrustworthy to lecturers who regulate that workload. Existing advice on standardization of workloads within the European Credit Transfer and Accumulation System is criticized for its insensitivity to the constructive effects of course-load on student workload preferences. (shrink)

MARX'S CRISES THEORY: SCARCITY, LABOR AND FINANCE by Michael Perelman New York: Praeger, 1987. 250 pp., $37.95 Perelman shows that Marx assigns a major role to money in bringing about instability under capitalism. The ideology of cheap credit promotes malinvestment and overproduction, which cause the economic crises that will eventually lead to the revolution that will overthrow capitalism. Yet cheap credit serves the interests of capitalists and the state. After a survey of the nineteenth? and twentieth?century (...) literature on Marx's monetary theory, parallels between that theory and the views of Austrian?school economists are pursued. (shrink)

The financial crisis that currently besets Europe not only disturbs the life of many citizens, but also affects our economic, political and philosophical theories. Clearly, many of the contributing causes, such as the wide availability of cheap credit after the introduction of the euro, are contingent. Analyses that aim to move beyond such contingent factors tend to highlight the disruptive effects of the neoliberal conception of the market that has become increasingly dominant over the last few decades. Yet (...) while the financial sector has received most of the blame, and rightly so, few commentators seem willing to take into account the role played by representative democracy in its current form. Even if it is granted that actual democratic policies fall short of what they ought to achieve, contemporary representative democracy itself is seldom regarded as part of the tangle it was supposed to resolve. David Merill touches upon this issue when he notes, in the preceding issue of thisBulletin, that ‘the economic dilemmas faced today may be ultimately the consequences of state failure’. The state that has failed to regulate the markets is described as ‘weak’ and ‘subject to external blows, blind to its ends, merely one actor among many in the events of the day’ (Merill 2012: 28). Yet Merill does not seem to consider this weakness to be an inherent feature of the constellation of which contemporary democracy is a part.There are, of course, excellent reasons not to take this path. First, representative democracy has in many cases proved to be the best way of preventing small elites from acquiring political power, and many of the impressive social and political achievements of the twentieth century are the result of democratic processes. (shrink)

Charity, the core of the Gospel ethos, became one of the founding ideas of European civilization and distinguished it from others. In Polish territories, as in other Western European countries, charity work was conducted primarily by the Church, which together with its sense of Gospel duty, defended the weak by concerning itself with economic development. For this purpose, charitable credit institutions, so-called mounts of piety (montes pietatis), were established. They were continued by reformers, in a somewhat changed form, until (...) the decline of the Polish Commonwealth (Republic). The most original institution of this kind was Rev. Stanisław Staszic’s foundation: the Hrubieszów Agricultural Society, which survived until the days of the Polish People’s Republic. (shrink)

Action research began as an ambitious epistemological and social intervention. As the concept has become reified, packaged for methodology textbooks and professional development workshops, it has degenerated into a cure that may be worse than the disease. The point is not the trivial one that action research, like any practice, sometimes shows up in cheap or corrupt forms. The very idea that action research already exists as a live option is mystifying, distracting us from the deep challenge that action (...) research ultimately represents. Though Joseph Schwab is sometimes credited as a forerunner of action research, it is likely that he would see the new talk of ‘the teacher as researcher’ as indicative of the very epitomization of which he warned. Dewey’s new conception of knowledge, action, and communication – and the vision of the teacher as learner it entails – requires nothing short of a radical rethinking of teaching and inquiry, schooling and teacher education. This essay recalls the promise of... (shrink)

In lieu of an abstract, here is a brief excerpt of the content:DAVID HUME AND EIGHTEENTH CENTURY MONETARY THOUGHT: A CRITICAL COMMENT ON RECENT VIEWS To the argument that it makes little difference what precise roles were played by various actors in a great movement, and that the busy modern reader cannot be bothered to go behind the scenes of popular successes, the answer is simple: it is on the whole better to call men and events by their right names; (...) it is on the whole wiser not to make false diagrams of the way things happen. What, after all, are we so busy about? Jacques Barzun, Darwin, Marx, Wagner The praise that has been bestowed upon David Hume's monetary thought in recent years would suggest that however little attention is paid to the history of economic thought otherwise, no one is averse to a long and respectable lineage.1 However, it is just when an individual is singled out and focused upon that the most misleading ideas can arise; furthermore, when the scholars who provide this attention are renowned authorities in specialized fields, their views receive very widespread circulation. It would not be easy to find a contemporary student of the eighteenth century who would assert that the mercantilists believed real wealth to consist of gold and silver, yet the late Harry Johnson made just such an assertion not very long ago, and the number of economists who read Harry Johnson must far outnumber those who read eighteenthcentury scholars.2 By the same token, the liberal praise bestowed upon those credited with having "demolished" mercantilism, such as David Hume, requires careful scrutiny. A recent article by Dietrich Fausten3 has shown how different Hume's analysis 157 actually was from modern monetarism, despite the many attempts to designate Hume the father of monetarist doctrines, and this critical approach can be taken farther. Before turning to an examination of Hume's position, it may be worthwhile to make a methodological point. There are those who consider delving into indebtedness and priorities "antiquarian" (but not if their own contributions are in question!). After all, they claim, Hume's views are there in black and white, he wrote elegantly and his philosophical merits are widely admired; does it really matter if Hume did not acknowledge his sources, that he was somewhat inconsistent, or that he caricatured his opponents? Surely some compassion is appropriate for someone who wrote at the very dawn of "economic science." This is to miss the point of such historical scrutiny altogether. If compassion were required, why should it be bestowed upon Hume, rather than on such predecessors as Gervaise, Cantillon or Vanderlint? Scholars employ certain critical standards in judging published work; let us employ these standards to Hume and if sympathy be required, let it follow and not precede the analysis. II The following passage is certainly one of the most frequently quoted in the history of economics but its importance for our argument makes repetition necessary. Suppose, that all the money of Great Britain were multiplied fivefold in a night, must not the contrary effect follow? Must not all labour and commodities rise to such an exorbitant height, that no neighbouring nations could afford to buy from us; while 158 their commodities, on the other hand, became comparatively so cheap, that, in spite of all the laws which could be formed, they would be run in upon us, and our money flow out; till we fall to a level with foreigners, and lose that great superiority of riches, which had laid us under such disadvantages?4 Two points should be noted about the above. First, Hume assumes a sudden, large inflow of money to make his point. This is a very different thing from the small [relative to the money stock] and steady inflow advocated by the so-called mercantilists. Secondly, Hume assumes that this sudden inflow is met by instantaneous adjustment in prices. Otherwise, if the change in, say, wages attracts more labour, there is no reason why the increased money supply could not lead to a greater output and thus avoid inflation. International labour mobility was a standard feature of mercantilist thought and so it will be seen that Hume's "new" result is obtained by his... (shrink)

In lieu of an abstract, here is a brief excerpt of the content:DAVID HUME AND EIGHTEENTH CENTURY MONETARY THOUGHT: A CRITICAL COMMENT ON RECENT VIEWS To the argument that it makes little difference what precise roles were played by various actors in a great movement, and that the busy modern reader cannot be bothered to go behind the scenes of popular successes, the answer is simple: it is on the whole better to call men and events by their right names; (...) it is on the whole wiser not to make false diagrams of the way things happen. What, after all, are we so busy about? Jacques Barzun, Darwin, Marx, Wagner The praise that has been bestowed upon David Hume's monetary thought in recent years would suggest that however little attention is paid to the history of economic thought otherwise, no one is averse to a long and respectable lineage.1 However, it is just when an individual is singled out and focused upon that the most misleading ideas can arise; furthermore, when the scholars who provide this attention are renowned authorities in specialized fields, their views receive very widespread circulation. It would not be easy to find a contemporary student of the eighteenth century who would assert that the mercantilists believed real wealth to consist of gold and silver, yet the late Harry Johnson made just such an assertion not very long ago, and the number of economists who read Harry Johnson must far outnumber those who read eighteenthcentury scholars.2 By the same token, the liberal praise bestowed upon those credited with having "demolished" mercantilism, such as David Hume, requires careful scrutiny. A recent article by Dietrich Fausten3 has shown how different Hume's analysis 157 actually was from modern monetarism, despite the many attempts to designate Hume the father of monetarist doctrines, and this critical approach can be taken farther. Before turning to an examination of Hume's position, it may be worthwhile to make a methodological point. There are those who consider delving into indebtedness and priorities "antiquarian" (but not if their own contributions are in question!). After all, they claim, Hume's views are there in black and white, he wrote elegantly and his philosophical merits are widely admired; does it really matter if Hume did not acknowledge his sources, that he was somewhat inconsistent, or that he caricatured his opponents? Surely some compassion is appropriate for someone who wrote at the very dawn of "economic science." This is to miss the point of such historical scrutiny altogether. If compassion were required, why should it be bestowed upon Hume, rather than on such predecessors as Gervaise, Cantillon or Vanderlint? Scholars employ certain critical standards in judging published work; let us employ these standards to Hume and if sympathy be required, let it follow and not precede the analysis. II The following passage is certainly one of the most frequently quoted in the history of economics but its importance for our argument makes repetition necessary. Suppose, that all the money of Great Britain were multiplied fivefold in a night, must not the contrary effect follow? Must not all labour and commodities rise to such an exorbitant height, that no neighbouring nations could afford to buy from us; while 158 their commodities, on the other hand, became comparatively so cheap, that, in spite of all the laws which could be formed, they would be run in upon us, and our money flow out; till we fall to a level with foreigners, and lose that great superiority of riches, which had laid us under such disadvantages?4 Two points should be noted about the above. First, Hume assumes a sudden, large inflow of money to make his point. This is a very different thing from the small [relative to the money stock] and steady inflow advocated by the so-called mercantilists. Secondly, Hume assumes that this sudden inflow is met by instantaneous adjustment in prices. Otherwise, if the change in, say, wages attracts more labour, there is no reason why the increased money supply could not lead to a greater output and thus avoid inflation. International labour mobility was a standard feature of mercantilist thought and so it will be seen that Hume's "new" result is obtained by his... (shrink)

This paper focuses on a specific challenge for welfarist theories of intergenerational justice. Subjective welfarism permits and even requires that a generation, G1, inculcates cheap preferences in the next generation, G2. This would allow G1 to deplete resources instead of saving them, which seems to contradict the ideal of sustainability. The aim of the paper is to show that, even if subjective welfarism requires the cultivation of cheap preferences among future generations, it can accommodate two major objections to (...) cheap preferences engineering, the Autonomy Objection and the Fairness Objection. The paper argues that teaching autonomy-related abilities is compatible with cheap preferences engineering insofar as autonomy is understood as an end-state and not as a precondition. Furthermore, teaching autonomy-related abilities could even be required in order to improve G2’s prospects for well-being. However, since being autonomous renders G2 able to revise their initially cheap preferences, G1 should also save enough resources to enable members of G2 to do so. Therefore, cultivating cheap preferences among G2 does not allow G1 to deplete the available resources. (shrink)

This paper offers a cheap solution to Laura Valentini’s paradox of ideal theory. An ideal theory cannot be sound by definition, since in the relevant sense of “ideal theory” it involves false propositions.

The premise of this article is straightforward: cheap art as a method and movement, though often ignored in the aesthetics literature, is ideally suited for creative activism. To understand this claim, we must have a working definition of the term "cheap art", which I develop in the first section. In doing so, I focus on four features of cheap art, united by the core idea of anti-elitism, that make it well suited to support creative activism: (1) (...) class='Hi'>Cheap art is light, quick, sloppy, and easy to do. (2) Cheap art is made from cheap materials. (3) Cheap art rejects the idea of art as a business created for the artworld elite and aims instead to provide art of the people and for the people. (4) Cheap art challenges its audience members rather than seeking to placate or soothe them. After a brief defense of the claim that cheap art is in fact art, I discuss each aspect in detail, emphasizing its advantages for creative activism. I close with two suggestions for evaluating cheap art, which I argue can be extended to creative activism more broadly. (shrink)

Cheap talk has often been thought incapable of supporting the emergence of cooperation because costless signals, easily faked, are unlikely to be reliable (Zahavi and Zahavi, 1997). I show how, in a social network model of cheap talk with reinforcement learning, cheap talk does enable the emergence of cooperation, provided that individuals also temporally discount the past. This establishes one mechanism that suffices for moving a population of initially uncooperative individuals to a state of mutually beneficial cooperation (...) even in the absence of formal institutions. (shrink)

Theories of scientific rationality typically pertain to belief. In this paper, the author argues that we should expand our focus to include motivations as well as belief. An economic model is used to evaluate whether science is best served by scientists motivated only by truth, only by credit, or by both truth and credit. In many, but not all, situations, scientists motivated by both truth and credit should be judged as the most rational scientists.

Thomas Sattig has argued recently that constitutionalism renders determinism about the actual world false, just in virtue of ordinary facts about ordinary middle-sized material objects. However, it seems that, if determinism about the actual world is false, this should be so for reasons of physics rather than in virtue of ordinary facts about ordinary objects. This is the problem of cheap indeterminism. Sattig also claims, however, that constitutionalists can solve this problem if they abandon an attractive and promising solution (...) to the classical grounding problem affecting their view. In this paper I argue that, against his claims, constitutionalists can solve the problem of cheap indeterminism and the grounding problem simultaneously. (shrink)

To this day, many theorists regard the commodity theory and the credit theory as the two main rival accounts of the nature of money. Yet cryptocurrency has revolutionized the institution of money in ways that most commodity and credit theorists could hardly have anticipated. Given that cryptocurrency is a new form of money, the question arises whether the commodity and credit theories can adequately account for it. I argue that they cannot. I first offer an interpretation of (...) the commodity and credit theories according to which these theories uphold differing claims about the origin of money, the ontology of money, and the function of money. I then argue that thus understood, neither theory can accommodate cryptocurrency. Finally, I develop a novel hybrid hylomorphic account of money which draws on aspects of both the commodity and credit theories, and I argue that this hybrid account can accommodate cryptocurrency. (shrink)

In his commentary on the Epistle to the Romans, Karl Barth explains that grace is not to be viewed as something cheap for it is costly both for God and for man. Ironically, grace becomes costly because of how it is unconditionally free and because of how it is achieved only when we are justified in Jesus Christ. Since we are all under God's mercy and since we are freely justified through grace, all men — regardless of whether they (...) are bad or good, whether they practice religion, and other such aspects — are perceived to be equal as they are all saved by grace alone. For God, this grace is perceived to be considerably costly since grace is achieved through Christ's blood. On the other hand, for man, all the achievements and possessions of man rely greatly on grace. (shrink)

Too often in a hospital setting, forgiveness is thought to be automatic—given if a physician makes the apology. But this is cheap grace: a forgiveness achieved without the participation of the injured party. We must remember that forgiveness must be given, and devise new practices to see that it can be.

Costly signalling theory has become a common explanation for honest communication when interests conflict. In this paper, we provide an alternative explanation for partially honest communication that does not require significant signal costs. We show that this alternative is at least as plausible as traditional costly signalling, and we suggest a number of experiments that might be used to distinguish the two theories.

There is a commonly made distinction between two types of scientists: risk-taking, trailblazing mavericks and detail-oriented followers. A number of recent papers have discussed the question what a desirable mixture of mavericks and followers looks like. Answering this question is most useful if a scientific community can be steered toward such a desirable mixture. One attractive route is through credit incentives: manipulating rewards so that reward-seeking scientists are likely to form the desired mixture of their own accord. Here I (...) argue that this idea is less straightforward than it may seem. Interpreting mavericks as scientists who prioritize rewards over speed and risk, I show in a deliberatively simple model that there is a fixed mixture which is not particularly likely to be desirable and which credit incentives cannot alter. I consider a way around this result, but this has some major drawbacks. I conclude that credit incentives are not as promising a way to create a desirable mixture of mavericks and followers as one might have thought. (shrink)

Complex systems and complex missions take years of planning and force launches to become incredibly expensive. The longer the planning and the more expensive the mission, the more catastrophic if it fails. The solution has always been to plan better, add redundancy, test thoroughly and use high quality components. Based on our experience in building ground based mobile robots (legged and wheeled) we argue here for cheap, fast missions using large numbers of mass produced simple autonomous robots that are (...) small b y today's standards (1 to 2 Kg). We argue that the time between mission conception and implementation can be radically reduced, that launch mass can be slashed, that totally autonomous robots can be more reliable than ground controlled robots, and that large numbers of robots can change the tradeoff between reliability of individual components and overall mission success. Lastly, we suggest that within a few years it will be possible at modest cost to invade a planet with millions of tiny robots. (shrink)

Most evolutionary analyses of animal communication suggest that low-cost signals can evolve only when both the signaller and the recipient rank outcomes in the same order. When there is a conflict of interest between sender and receiver, honest signals must be costly. However, recent work suggests that low-cost signals can be evolutionarily stable, even when the sender and the receiver rank outcomes in different orders, as long as the interest in achieving coordination is sufficiently great. In this paper, we extend (...) this body of work by analysing a game theory model that shows that low-cost signals can evolve when there are conflicts of interest and no interest in coordination, as long as individuals interact repeatedly. We also present an empirical example indicating that female rhesus macaques, Macaca mulatta, use honest, low-cost, vocal signals to facilitate interactions when conflicts of interest exist. (shrink)

Taking credit is the process through which organizational members claim responsibility for work activities. We begin by describing a publically disputed case of credit taking and then draw on psychological, situational, and personality constructs to provide a model that may explain when and why organizational members are likely to take credit. We identify testable propositions about the credit-taking process, discuss ethical aspects of credit taking and suggest areas for research on credit taking in organizations.

Starting from MacIntyre’s virtue ethics, we investigate several codes of conduct of banks to identify the type of virtues that are needed to realize their mission. Based on this analysis, we define three core virtues: honesty, due care, and accuracy. We compare and contrast these codes of conduct with the actual behavior of banks that led to the credit crisis and find that in some cases banks did not behave according to the moral standards they set themselves. However, although (...) banks and the professionals working in them can be blamed for what they did, one should also acknowledge that the institutional context of the free market economy in which they operated made it difficult to live up to the core values lying at the basis of the codes of conduct. Given the neo-liberal free market system, innovative and risky strategies to enhance profits are considered desirable for the sake of shareholder’s interests. A return to the core virtues in the financial sector will therefore only succeed if a renewed sense of responsibility in the sector is supported by institutional changes that allow banks to put their mission into practice. (shrink)

Starting from MacIntyre’s virtue ethics, we investigate several codes of conduct of banks to identify the type of virtues that are needed to realize their mission. Based on this analysis, we define three core virtues: honesty, due care, and accuracy. We compare and contrast these codes of conduct with the actual behavior of banks that led to the credit crisis and find that in some cases banks did not behave according to the moral standards they set themselves. However, although (...) banks and the professionals working in them can be blamed for what they did, one should also acknowledge that the institutional context of the free market economy in which they operated made it difficult to live up to the core values lying at the basis of the codes of conduct. Given the neo-liberal free market system, innovative and risky strategies to enhance profits are considered desirable for the sake of shareholder’s interests. A return to the core virtues in the financial sector will therefore only succeed if a renewed sense of responsibility in the sector is supported by institutional changes that allow banks to put their mission into practice. (shrink)

Micro Credit (MC) programs lend money to poor borrowers using innovative mechanisms such as group lending under joint liability while successfully accounting for the presence of asymmetric information in underdeveloped financial markets. MC programs have achieved what the conventional financial institutions and the government have not been able to: lend to the poor, impressive loan recuperation, and a positive impact in poverty reduction. This article analyzes the performance of ALSOL, an MC program in Chiapas, México, for 2151 participants in (...) urban and rural areas for the time period between July 2000 and July 2001. While loan recuperation is high (95%), administrative costs also remain high. Socially responsible lenders and donors play a key role in providing continuous funding to MC programs and assisting in reducing the level of poverty. (shrink)

This paper contends that Marx develops in Volume III of Capital an incisive conceptual framework in which excessive credit creation, indebtedness and speculation play a critical and growing role in the reproduction of social capital on an extended basis; however, given the decentralised and anarchic nature of capitalist production, the credit system does so in a highly erratic and contradictory manner which only postpones the inevitable day of reckoning. The paper also highlights Marx's relatively neglected but highly important (...) analysis of the separation of ownership from management in the advanced capitalism of his day, England, and its modern-day implications for excessive risk-taking and debt-fuelled speculation up until the eve of the crash. More importantly, the paper argues that in Volumes II and III, Marx implicitly connected the expanding role of credit (which he associated with the development of capitalism) to a significant reduction in the turnover period of capital, thereby boosting the rate of surplus-value, and countering in a highly erratic and contradictory manner, the fall in the rate of profit. The growing role of credit has been relatively ignored in the Marxian literature as an important counteracting factor to the law of the declining rate of profit. It is not mentioned at all by Marx in his famous Chapter XIV, Vol. III of Capital where he discusses other important counteracting forces to the falling rate of profit, nor by Engels (in this particular context) who edited both Volumes II and III. (shrink)

A democratic ethics of biological technology must engage the public. This is not easy to do in a way that satisfies the demands of democratic ethics, or meets the pace of rapidly changing, complex technology. This paper describes a solution proposed by the University of British Columbia’s Norms Evolving in Response to Dilemmas interdisciplinary research group. The solution, the NERD web survey, has three distinct advantages over other methods: it is Deep—the survey provides deep data, particularly when compared to alternatives (...) such as polls and focus groups; Cheap—our survey is cost effective, which is important for a truly democratic tool; and Improvable—the NERD survey is a work in progress, improvable by design. (shrink)

To avoid problems with classical theories that take our mental states to represent in virtue of what propositions they represent, and more recent theories that reverse the representational priority, Grzankowski and Buchanan (Philos Stud 176:3159–3178, 2019) propose a “cheap” theory of propositions that does not assume that they are representational entities. They believe that everything there is to know about propositions is provided by the principle that token mental states have the same propositional content if they represent the same (...) things in the same way. I show that the postulated correlation of propositions with mental states does not suffice for propositions to have standard properties like truth values or constituent structures, or to secure the truth of their other basic principle “essentiality of content.” Their theory tells us so little about what propositions are that there is no reason to believe that propositions are object of mental states, or that they exist at all. (shrink)

This paper investigates experimentally the effects of communication in distinct games with complete information. We design four games resulting from the interaction between two incentive elements: strategic complementarity and coordination. These incentive elements allow to analyse the use of cheap talk as an efficiency-enhancing and coordinating device. We implement a restricted communication protocol in repeated settings with fixed partners. Our findings provide robust evidence about how cheap talk interacts with incentives to explain strategic behaviour in a dynamic way. (...) As expected, cheap talk increases efficiency under complementarity incentives, and the coordination level under coordination incentives. As novelty, the use of limited communication in repeated interactions has led to identify specific time-varying message profiles as the most effective messages in the coordination games. While the content of messages is explained by the complementarity incentives, faithfulness to credible messages is determined by the coordination incentives. (shrink)

The Credit Theory of Knowledge (CTK)—as expressed by such figures as John Greco, Wayne Riggs, and Ernest Sosa—holds that knowing that p implies deserving epistemic credit for truly believing that p . Opponents have presented three sorts of counterexamples to CTK: S might know that p without deserving credit in cases of (1) innate knowledge (Lackey, Kvanvig); (2) testimonial knowledge (Lackey); or (3) perceptual knowledge (Pritchard). The arguments of Lackey, Kvanvig and Pritchard, however, are effective only in (...) so far as one is willing to accept a set of controversial background assumptions (for instance, that innate knowledge exists or that doxastic voluntarism is wrong). In this paper I mount a fourth argument against CTK, that doesn’t rest on any such controversial premise, and therefore should convince a much wider audience. In particular, I show that in cases of extended cognition (very broadly conceived), the most salient feature explaining S ’s believing the truth regarding p may well be external to S , that is, it might be a feature of S ’s (non-human, artifactual) environment. If so, the cognitive achievement of knowing that p is not (or only marginally) creditable to S , and hence, CTK is false. (shrink)

In a well-ordered society, democratic officials face an assurance problem. They want to ensure that others will act reasonably when they do the same. According to political liberals, public reason can solve this problem, but the details of how assurance is generated are unclear. This article explains the assurance mechanism in political liberalism. Apart from public reason, mutual assurance is also provided by a long-term record of civic deeds. By performing civic deeds over time, officials signal their reasonableness to each (...) other. This record of civic deeds is costly to unreasonable officials and thus represents a reliable way to differentiate trustworthy fellows from others. The article also shows that a recent critique of political liberalism, which argues that public reason is merely cheap talk and thus political liberalism fails to provide mutual assurance, misses the point. It overlooks that assurance is created through talks and deeds together. (shrink)

We take a fresh look at the concerns about credit card pricing and empirically investigate whether the Credit CARD Act of 2009 has been successful in addressing those concerns. The rational choice theory of credit card pricing, which posits that issuers use back-end fees to adjust the price of credit to reflect new information about borrowers’ credit risk, predicts that issuers will respond to the Act by using alternative ways to price risk. In contrast, the (...) behavioral economics theory, which posits that issuers use back-end fees because they are not salient to consumers, predicts that issuers will respond by increasing unregulated non-salient prices. If the market is competitive, we argue that the CARD Act should also result in increases in some salient, up-front prices. But we show that if issuers have market power, reductions in non-salient fees may not result in concomitant increases in salient charges. We test these predictions using two datasets on credit card contract terms before and after the CARD Act rules went into effect. We find that the rules have substantially reduced the back-end fees directly regulated by the Act, including late fees and over-the-limit fees. However, unregulated contract terms, such as annual fees and purchase interest rates, have changed little. Post-CARD Act, consumers continue to face high long-term prices and low short-term prices, and imperfectly rational consumers still find it difficult to understand the cost of credit card borrowing. We thus consider potential improvements to the regulatory framework. We argue that improved disclosures that present to consumers the aggregate cost of credit under the contract, based on information about the borrower’s likely use of credit, would improve consumer outcomes. Furthermore, we suggest that regulators, rather than focusing on prices that are “too high,” should consider limiting the ability of issuers to charge introductory teaser interest rates that are in a sense “too low. (shrink)

Crowdsourcing is an increasingly popular method for researchers in the social and behavioral sciences, including experimental philosophy, to recruit survey respondents. Crowdsourcing platforms, such as Amazon’s Mechanical Turk (MTurk), have been seen as a way to produce high quality survey data both quickly and cheaply. However, in the last few years, a number of authors have claimed that the low pay rates on MTurk are morally unacceptable. In this paper, I explore some of the methodological implications for online experimental philosophy (...) research if, in fact, typical pay practices on MTurk are morally impermissible. I argue that the most straightforward solution to this apparent moral problem—paying survey respondents more and relying only on “high reputation” respondents—will likely increase the number of subjects who have previous experience with survey materials and thus are “non-naïve” with respect to those materials. I then discuss some likely effects that this increase in experimental non-naivete will have on some aspects of the “negative” program in experimental philosophy, focusing in particular on recent debates about philosophical expertise. (shrink)

A widely accepted view in recent work in epistemology is that knowledge is a cognitive achievement that is properly creditable to those subjects who possess it. More precisely, according to the Credit View of Knowledge, if S knows that p, then S deserves credit for truly believing that p. In spite of its intuitive appeal and explanatory power, I have elsewhere argued that the Credit View is false. Various responses have been offered to my argument and I (...) here consider each of these objections in turn. I show that none succeeds in undermining my argument and, thus, my original conclusion stands—the Credit View of Knowledge is false. (shrink)

This article critically evaluates and contests the flagship benefit delivery system Universal Credit for lone mothers by focusing on some of the ethical challenges it poses, as well as some key implications it holds for social work with lone mothers and their children. Universal Credit was first introduced in the United Kingdom (UK) in 2008, and echoes conditionality-based welfare policies adopted by neoliberal governments internationally on the assumption that paid employment offers a route out of poverty for citizens. (...) However, research evidence suggests that the risks of conditionality polices for lone parents can often include increased poverty, a deterioration in mental health or even destitution posed by paternalistic sanctions or precarious low-paid employment, which can undermine parenting capacities and children’s well-being. The article also critically appraises and questions challenges posed by an increased reliance upon contractual ethics by governments, alongside the wider behaviour-modifying policies of the workfare-orientated state. This includes that working-class lone mothers can erroneously be stigmatised as representing a morally challenged dependent burden through activation policies and risk-averse social work practices. (shrink)

Most evolutionary analyses of animal communication suggest that low-cost signals can evolve only when both the signaller and the recipient rank outcomes in the same order. When there is a conflict of interest between sender and receiver, honest signals must be costly. However, recent work suggests that low-cost signals can be evolutionarily stable, even when the sender and the receiver rank outcomes in different orders, as long as the interest in achieving coordination is sufficiently great. In this paper, we extend (...) this body of work by analysing a game theory model that shows that low-cost signals can evolve when there are conflicts of interest and no interest in coordination, as long as individuals interact repeatedly. We also present an empirical example indicating that female rhesus macaques, Macaca mulatta, use honest, low-cost, vocal signals to facilitate interactions when conflicts of interest exist. (shrink)

In this paper, I show that Polleit and Mariano (2011) are right in concluding that Credit Default Swaps (CDS) are per se unobjectionable from Rothbard’s libertarian perspective on property rights and contract theory, but that they fail to derive this conclusion properly. I therefore outline the proper explanation. In addition, though Polleit and Mariano are correct in pointing out that speculation with CDS can conceivably hurt the borrowers’ interests, they fail to grasp that this can be the case only (...) in some peculiar circumstances that I identify. In other words, they miss the bigger picture, the one outside special circumstances, in which CDS trading has the opposite effect. That is, CDS facilitate debt accumulation, including government debt accumulation. Finally, I point out how this can precipitate the collapse of fiat money regimes. An incidental goal of the analysis is to provide a better account than Polleit and Mariano of recent government interventions in and around CDS markets. (shrink)

The safeguarding of credit represents one of the most important economic and juridical challenges for every complex society. Just by reading the news we can realize how current this topic is for us. By thinking back over the history of ideas and the social, economic, and political reasons that got Law makers to legislate on this subject, we can better understand what’s happening today and in which direction our societies are going. An analysis of the Italian juridical system’s development (...) on bankruptcy proceedings, starting from the attitude of ancient Roman law on over-indebtedness, can effectively shine light on the current regulation, reformed in 2006. This new bankruptcy law transforms the previous public nature of bankruptcy proceedings into a prevailingly private management of enterprises’ financial problems, completely changing the course of credit policy. The “Italian way” is just one result of an international trend, the guiding lines of which can be seen throughout the whole EU and also in the regulation of the USA. This historical-comparative perspective, in all its positive and negative potentiality, is an important paradigm. The final hope is that historians can perhaps give their contribution to more conscious reflections on important topics like this one, offering to other scholars the possibility to have a wider view on this juridical phenomenon. (shrink)

One alleged advantage of credit theories of knowledge is that they are capable of explaining why knowledge is essentially more valuable than mere true belief. I argue that credit theories in fact provide grounds for denying this claim and therefore are incapable of overcoming the ‘value problem’ in epistemology. Much of the discussion revolves around the question of whether true belief is always epistemically valuable. I also consider to what extent, if any, my main argument should worry (...) class='Hi'>credit theorists. (shrink)

I offer two potential diagnoses of the behavioral norms governing post‐truth politics by comparing the view of language, communication, and truth‐telling put forward by David Lewis (extended by game theorists), and John Searle. My first goal is to specify the different ways in which Lewis, and game theorists more generally, in contrast to Searle (in the company of Paul Grice and Jurgen Habermas), go about explaining the normativity of truthfulness within a linguistic community. The main difference is that for Lewis (...) and game theorists, “truthful” signaling follows from an align- ment of interests, and deception follows from mixed motives leading to the calculation that sending false information is better for oneself. Following in the Enlightenment tradition, Searle argues that practical reasoning, which involves mastery of at least one language, requires that actors intend to communicate. This intention includes constraining the content of statements to uphold veracity conditions. After distinguishing between these two accounts, I will artic- ulate the implications for explaining, and even informing actions, constitutive of post‐truth politics. I argue that the strategic view of communication is suffi- cient neither to model everyday conversation nor to reflect a public sphere useful for democratic govern- ment. Both the pedagogy of strategic communication as cheap talk, and its concordance with new digital information technologies, challenge norms of truthful- ness that underlie modern institutions essential to an effective public sphere. (shrink)

ChickenHawk is a social-dilemma game that distinguishes uncoordinated from coordinated cooperation. In tests with players belonging to a culturally homogeneous population, natural-language “cheap talk” led to efficient coordination, while nonlinguistic signaling yielded uncoordinated altruism. In a subsequent test with players from a moderately more heterogeneous population nearby, the “cheap talk” condition still produced better coordination than other signaling conditions, but at a lower level and with fewer acts of altruism overall. Implications are: (1) without language, even willing cooperators (...) coordinate poorly; (2) given a sufficiently homogeneous social group, language can coordinate cooperation in the face of opportunities for anonymous defection; (3) coordination therefore depends not on merely a general propensity to cooperate but on the overlap of social identities, which are always costly to acquire and maintain. So far as linguistic variation establishes how much social identities overlap, natural-language “cheap talk” is self-insuring, suggesting that linguistic variation is itself adaptive. (shrink)

To deserve credit for doing what is morally right, we must act from the right kinds of motives. Acting from the right kinds of motives involves responding both to the morally relevant reasons, by acting on these considerations, and to the morally relevant individuals, by being guided by appropriate attitudes of regard for them. Recent theories of the right kinds of motives have tended to prioritize responding to moral reasons. I develop a theory that instead prioritizes responding to individuals (...) (through appropriate attitudes of regard for them) and argue that it better accounts for the basic features of the right kinds of motives – what we most fundamentally care about in judging whether persons deserve moral credit. (shrink)

The notion of credit plays a central role in virtue epistemology and in the literature on moral worth. While virtue epistemologists and ethicists have devoted a significant amount of work to providing an account of creditable success, a unified theory of credit applicable to both epistemology and ethics, as well as a discussion of the general form it should take, are largely missing from the literature. Our goal is to lay out a theory of credit that seems (...) to underlie much of the discussion in virtue epistemology, which we dub the Cake Theory. We argue that given the goals that virtue epistemologists and ethicists who discuss moral worth have, this theory is problematic, for it makes credit depend on the wrong facts. (shrink)

This paper examines ordinary people’s responses to Jennifer Lackey’s Chicago Visitor case. In particular it examines responses regarding the case from participants with Taiwanese backgrounds and US backgrounds. The Chicago Visitor case is one of the most influential cases in epistemology in recent years and plays a significant role in a number of debates in epistemology. First, the case is used to suggest that the Credit View is mistaken. Second, the case seems to pose a problem for a virtue (...) epistemological account of the nature of knowledge. Our paper explores these points in relation to our survey results, which show that participants believe that the protagonist in the case does have knowledge and that the protagonist deserves some credit for his true belief. Our aim in this paper, however, isn’t only to discover evidence bearing on the discussion of the Chicago Visitor case and cross cultural differences related to that case, we are also interested in what else the case might tell us about epistemic agency. For this reason we also asked participants to tell us to what extent they thought that the protagonist would be at fault in a case in which their belief turned out to be false. Here most of the participants found that the protagonist would indeed bear some fault in such circumstances. Our survey results also show, however, that participants of US background tend to be likely to attribute less fault to the testimonial recipient in bad testimonial cases, than their Taiwanese counterparts. More generally, we explore what the result regarding fault can tell us about epistemic agency. (shrink)