This collection is the first book-length analysis of the theoretical foundations of public debt sustainability concepts and their application to the empirical study of actual budgetary policies.

Publication date: 30 November 2016 Source: Author: Remi Chukwudi Okeke, Adeline N. Idike This study raises some fundamental issues in the relationship between public debt and sustainable national development in Nigeria. The work is significant in highlighting the position of public debt in the subject area of public administration. The study finds a very weak linkage between public debt and sustainable national development in the Nigerian state. The theoretical framework of the investigation is the bureaucratic theory. The (...) work finds that the bureaucracy is as guilty as the politician in the country, in the transmutation of public debt into a brand of national bazaar. It is finally recommended in the paper that taxation-increases be adopted as alternative to public debt, in ensuring that the current generation of the country’s citizens, in meeting their immediate needs do not invariably endanger the capacity of future generations in the same regards. (shrink)

Contemporary processes of globalization have been accompanied by a serious deterioration in the health of many women across the world. Particularly disturbing is the drastic decline in the health status of many women in the global South, as well as some women in the global North. This paper argues that the health vulnerability of women in the global South is inseparable from their political and economic vulnerability. More specifically, it links the deteriorating health of many Southern women with the neo-liberal (...) economic policies that characterize contemporary economic globalization and argues that this structure is sustained by the heavy burden of debt repayments imposed on many Southern countries. In conclusion, it argues that many Southern debt obligations are not morally binding because they are not democratically legitimate. (shrink)

We seek insights into potential benefits for firms adopting strategies to improve business sustainability in a carbon-constrained future. We investigate whether lenders incorporate a firm’s exposure to carbon-related risk into lending decisions through the cost of financing, and if so, importantly whether firms can mitigate the penalty by demonstrating an awareness of their carbon risks. We use a sample of 255 firm-year observations from eight industries over the period 2009–2013. We measure carbon-related risk exposure as the firm’s historical carbon (...) emissions and our primary measure of carbon risk awareness is based on the firm’s willingness to respond to the Carbon Disclosure Project survey. We document a positive association between cost of debt and carbon risk for firms failing to respond to the CDP. Further, this association is economically meaningful, with a one standard deviation increase in carbon risk mapping into between a 38 and 62 basis point increase in the cost of debt. Equally, we find that this penalty is effectively negated for firms exhibiting carbon risk awareness. Our results are robust when we consider alternate measures of carbon awareness—disclosure through alternative medium to the CDP and firms’ annual cash investment in new capital assets using “cleaner” technology. Our results highlight not only the importance of carbon awareness as a business strategy for polluting firms, but also its importance to lenders exposed to their clients’ default and reputational risk. The debt market appears to incorporate historical carbon emissions and forward-looking indicators of carbon performance. (shrink)

Before the field of business and society can adequately analyze the relationship between governmental policies and corporate social responsibility (CSR), either as a reality or an ideal, it is first necessary to understand exactly how governments nurtured the development of the autonomous corporation. The roles assigned to government by the economics and management literatures—regulator, standard setter, protector, and adjudicator—ignore the crucial part played by state violence and government expenditures in the rise and sustained success of the corporate economy. An examination (...) of the history of the American case, crucial for the development of the modern corporation as well as the “explicit” form of CSR that eventually followed it, highlights these roles: the willingness of the state to intervene with force in labor conflicts bolstered the managerial autonomy that defined the large corporation, and the way government expenditures promoted innovation and firm success. Acknowledging how corporations depended on government assistance in their development is a necessary step for both assessing the responsibilities owed stakeholders and for advancing the theoretical development of the field. (shrink)

This article reads Derrida's Archive Fever as a sustained reflection on the influence of psychoanalysis on deconstruction. It examines the text's deployment of two financial figures — debt and inheritance — as contrasting ways of coming to terms with the intellectual legacy of psychoanalysis. Derrida's reading of Yosef Hayim Yerushalmi's Freud's Moses exposes the historian's reliance on a ‘classical’ concept of the archive as the depository of a self-identical past, a concept which underpins Yerushalmi's thesis of Freud's unpaid (...) class='Hi'>debt to Jewish culture. This conception gives rise to several aporias identified in Derrida's analysis of Yerushalmi's methodological procedure. A more positive and productive notion of inheritance characterizes Derrida's exploration of his own relationship to Freud, allowing him to move beyond the burden of a calculable indebtedness to the past towards an incalculable inheritance for the future. Deconstruction inherits from Freud's theoretical legacy, reaffirming and transforming psychoanalytic insights in its own account of our collective mal d'archive, our feverish desire both to preserve and destroy the archive. (shrink)

The fight for emancipation takes place on different levels, and one of them is the level of contemporary financial capitalism as debt-economy. Debt can be a major tool of control and exploitation in that it produces subordinate subjects situated in exchange relations of debt and credit. Recent work on financial debt and the debt-economy has, however, not taken gender adequately into account in philosophical definitions of indebted subjects. Gender analysis discloses how the debtor–creditor relationship is (...) based on a contractarian idea of the indebted subject as an autonomous moral agent, and on a masculine, that is, a-relational understanding of what counts as debt and what does not in the contemporary debt-economy. In contrast to atomistic notions of the subject in liberal, contractarian theories, relational notions of the subject as advanced in care ethics are a better point of departure for capturing the interdependence of subjects within a debt-economy as a core feature of a nonsustainable monetary system. On the basis of such analysis, care ethics also offers means for imagining ways of emancipation from private and public problem credit in order to make financial systems more sustainable and more just. (shrink)

This paper focuses on how African national leaders can make global democracy relevant to sustainable development in Africa. Seeing the problem of sustainable development in Africa from the structural and functional angles, this paper begins with an introduction and a clarification of terms such as ‘democracy’, ‘globalization’ and ‘development’. It then analyzes the underlying foundations of global democracy and its implications to cultures of the African peoples. This paper tries to place the impact of global democracy on Africa in perspectives (...) by weighing the pros and cons of global democracy. Tracing the genesis of functional and developmental problems in the post-colonial Africa to structural problems occasioned by Africa’s colonial experience, this paper however strongly contends that the main problem militating against sustainable development in the post-colonial Africa is bad politics and mismanagement of national resources. African peoples need to be taught that some of the African national leaders are responsible for the bad condition of underdevelopment in the global period because of bad political governance ranging from the inability of African leaders to calculate all the relevant factors in the making of their policies as well as failing to provide effective technologies and competent staff to deal with rigging of elections and other electoral problems in addition to corruption and mismanagement of public funds. There is no way for the African nations to survive without production of goods and services in terms of farming, agriculture and diversification of their revenue base. National leaders of the various African nations cannot avoid policies that enable the industrialization of African nations through the provision of the basic infrastructures and viable amenities for social, economic, and political development. They should however be wary of debt traps of International Monetary Fund and World Bank because borrowing nations are often given difficult conditions that often make it difficult for them to obtain the desired benefits in terms of sustainable development. The study recommends that for sustainable development to take place in Africa there is need for national leaders to embrace good political governance that places the people at the centre of development to be manifested in guileless electoral process and effective management of the resources. This paper contends that the realization of sustainable development in African nations requires moral, political, and economic integration. It concludes with perspectives for further research on the issue. (shrink)

East Asian imagery resonates throughout Martin Heidegger's writings. In this exploration of the connections between Daoism and his thought, an international team of scholars consider why the Daodejing and Zhuangzi were texts he returned to repeatedly and the extent Heidegger adhered to Daoism's core doctrines. They discuss how Daoist thought provided him with a new perspective, equipping him with images, concepts, and meanings that enabled him to continue his questioning of the nature of being. Exploring the environment, language, death, temporality, (...) aesthetics, and race from the groundlessness of non-being, oneness, and the Way, they illustrate how these themes reverberate with ontological, spiritual, and epistemological potential. A lesson in the art of Daoist and cross-cultural ways of thinking, this collection marks the first sustained analysis of the influence of classical Daoism on a major 20th-century German philosopher. (shrink)

Industrial shrimp farming has been promoted by international development and financial institutions in coastal indebted poor countries as a way to obtain foreign exchange earnings, reimburse external debt, and promote development. The promotion of the shrimp industry is a clear example of a more general trend of support of export-oriented primary products, consisting in monocultures of commodities, as opposed to the promotion of more diverse, traditional production directed to feed the local population. In general, it is assumed that export-oriented (...) aquaculture and agriculture, in a framework of liberalization policies, facilitates economic growth and this is associated with poverty reduction and the improvement of food security. However, it has been shown that the promotion of export-oriented production, mostly in the hands of big corporations, can have detrimental consequences for the livelihoods of local populations and the environment. As a result, international institutions, NGOs, and the industry aim to minimize these impacts by promoting sustainable export-oriented production. But some impacts may remain, since the main issue is the primary focus on international deregulated markets and the search for cheap primary products. To illustrate the relationships between the mainstream concept of development, the environmental and social impact of industrial farming systems, and the promotion of export-oriented production in developing countries, this article analyzes the case of the shrimp aquaculture industry. (shrink)

Market competition is intensifying. The necessity and path of adopting the diversified management model in the media industry are explored to delve into the influence of the media diversification model and entrepreneurship on enterprise financial performance. Besides, the relevant theories such as the media diversification model and entrepreneurial spirit are expounded. Furthermore, Time Publishing & Media is taken as the representative of the media diversification model. Finally, the influence of entrepreneurship on financial performance is discussed regarding entrepreneurship in the Yangtze (...) River Delta as the research object. The profitability, solvency, and operation ability of Time Publishing & Media are analyzed. It is found that there are problems in the profitability and operation ability of Time Publishing & Media. The solvency is good, and the risk of debt repayment is low. As a result, a diversified management model may not have a positive impact on enterprise performance. In addition, the entrepreneurial spirit of the Yangtze River Delta is studied, and the results reveal that the F values from 2017 to 2019 are about 66.24, 10.78, and 60.39, respectively, with a significance of 0.00. It implies that the stronger the entrepreneur’s ability to take risks, the better the financial performance of the enterprise, but the risk should be appropriate. Therefore, the research on the influence of the media diversification model and entrepreneurship on the financial performance of enterprises in the environment of sustainable development has guided significance for enterprises to improve their business performance and market competitiveness. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:Living into Community: Cultivating Practices That Sustain Us by Christine D. PohlAndrew WattsLiving into Community: Cultivating Practices That Sustain Us CHRISTINE D. POHL Grand Rapids, MI: Eerdmans, 2012. 176 pp. $15.00With Living into Community: Cultivating Practices That Sustain Us, Christine Pohl provides a useful and accessible companion to her first book, Making Room: Recovering Hospitality as a Christian Practice (Eerdmans, 1999). Concerned that “church and culture have not (...) provided the skills or virtues for us to be part of the very communities we long for and try to create” (4), she again challenges the identity of the Christian community. She likewise draws again upon the rich contributions of John Calvin and John Wesley as well as Catholic social movements such as L’Arche as she examines three core practices that engender hospitality: gratitude, promise-keeping, and truth-telling.This book grew out of a grant to participate in the Lilly Endowment project, “Sustaining Pastoral Excellence.” In partnership with her church, Pohl gathered a group of pastors, leaders of intentional communities, and seminary professors to think about gratitude, promise-keeping, truth-telling, and hospitality. The group met for three days twice a year, sharing and reflecting on examples of these practices in their ministries. Pohl provides the practical and theological fruit of their conversations, hoping this work will be used by leaders and members to strengthen their communities. She lays out three sections of three chapters each addressing gratitude, promise-keeping, and truth-telling. Each chapter works from the previous one, examining the practices from historical, biblical, theological, and philosophical perspectives. The last section on hospitality integrates the previous ones rather than simply reworking her previous published material. The book is strengthened by Pohl’s ability to connect together various scholarly and pastoral threads—an ability aided by the practical wisdom of a good working group—to offer helpful practical insights.For example, in the first chapter on gratitude, “Grateful Hearts,” she examines the theological attitudes of gratitude, generosity, and debt contrasted with entitlement and dissatisfaction, or grumbling—ever-present cultural complications for “good” and “holy” communities. In the second section, “Promise-Keeping,” she works through different kinds of promises in order to initiate [End Page 245] the hard work of communal reflection. There, rather than resting in the beautiful but abstract insights of thinkers such as Margaret Farley and Hannah Arendt, she distinguishes contractual and covenantal promises from one another and describes their consequences.Throughout the first two sections, qualities of contemporary culture—individualism, freedom, autonomy, mobility, distrust of institutions—affect and deform the practices of gratitude and promise-keeping essential to healthy and faithful communities. This attention to contemporary culture produces vital insight for the section on promise-keeping: while most Christian organizations appear to operate with covenantal expectations, “we actually work with a hybrid of covenantal and contractual obligations” (78). This “contemporary confusion” can lead to betrayal and loss and impede the mediation of fierce disagreements.Although Pohl provides helpful biblical narrative to support her analysis of each practice, she does not provide an adequate analysis of contemporary culture. One suspects that for Pohl—much like H. Richard Niebuhr—culture exists as a construct external to the well-formed community. It appears responsible for many of the attitudes deforming the essential practices she examines. Yet this suspicion is never fully confirmed, in part because she addresses sin as a present deforming power.Perhaps the most eloquent analysis in the book is found in its discussion of truth-telling. Rather than concede to Augustine’s (theological) or Immanuel Kant’s (rational) prohibition against lying, Pohl turns to Dietrich Bonhoeffer’s invocation of the concrete situation to analyze the practice of truth-telling. Only a community that places truthfulness within the context of covenantal relationships can deal redemptively with deception and wrongdoing. Several of her examples help the reader understand the uniqueness of this practice for healthy communities. [End Page 246]Andrew WattsBelmont UniversityCopyright © 2014 Society of Christian Ethics... (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:Living into Community: Cultivating Practices That Sustain Us by Christine D. PohlAndrew WattsLiving into Community: Cultivating Practices That Sustain Us CHRISTINE D. POHL Grand Rapids, MI: Eerdmans, 2012. 176 pp. $15.00With Living into Community: Cultivating Practices That Sustain Us, Christine Pohl provides a useful and accessible companion to her first book, Making Room: Recovering Hospitality as a Christian Practice (Eerdmans, 1999). Concerned that “church and culture have not (...) provided the skills or virtues for us to be part of the very communities we long for and try to create” (4), she again challenges the identity of the Christian community. She likewise draws again upon the rich contributions of John Calvin and John Wesley as well as Catholic social movements such as L’Arche as she examines three core practices that engender hospitality: gratitude, promise-keeping, and truth-telling.This book grew out of a grant to participate in the Lilly Endowment project, “Sustaining Pastoral Excellence.” In partnership with her church, Pohl gathered a group of pastors, leaders of intentional communities, and seminary professors to think about gratitude, promise-keeping, truth-telling, and hospitality. The group met for three days twice a year, sharing and reflecting on examples of these practices in their ministries. Pohl provides the practical and theological fruit of their conversations, hoping this work will be used by leaders and members to strengthen their communities. She lays out three sections of three chapters each addressing gratitude, promise-keeping, and truth-telling. Each chapter works from the previous one, examining the practices from historical, biblical, theological, and philosophical perspectives. The last section on hospitality integrates the previous ones rather than simply reworking her previous published material. The book is strengthened by Pohl’s ability to connect together various scholarly and pastoral threads—an ability aided by the practical wisdom of a good working group—to offer helpful practical insights.For example, in the first chapter on gratitude, “Grateful Hearts,” she examines the theological attitudes of gratitude, generosity, and debt contrasted with entitlement and dissatisfaction, or grumbling—ever-present cultural complications for “good” and “holy” communities. In the second section, “Promise-Keeping,” she works through different kinds of promises in order to initiate [End Page 245] the hard work of communal reflection. There, rather than resting in the beautiful but abstract insights of thinkers such as Margaret Farley and Hannah Arendt, she distinguishes contractual and covenantal promises from one another and describes their consequences.Throughout the first two sections, qualities of contemporary culture—individualism, freedom, autonomy, mobility, distrust of institutions—affect and deform the practices of gratitude and promise-keeping essential to healthy and faithful communities. This attention to contemporary culture produces vital insight for the section on promise-keeping: while most Christian organizations appear to operate with covenantal expectations, “we actually work with a hybrid of covenantal and contractual obligations” (78). This “contemporary confusion” can lead to betrayal and loss and impede the mediation of fierce disagreements.Although Pohl provides helpful biblical narrative to support her analysis of each practice, she does not provide an adequate analysis of contemporary culture. One suspects that for Pohl—much like H. Richard Niebuhr—culture exists as a construct external to the well-formed community. It appears responsible for many of the attitudes deforming the essential practices she examines. Yet this suspicion is never fully confirmed, in part because she addresses sin as a present deforming power.Perhaps the most eloquent analysis in the book is found in its discussion of truth-telling. Rather than concede to Augustine’s (theological) or Immanuel Kant’s (rational) prohibition against lying, Pohl turns to Dietrich Bonhoeffer’s invocation of the concrete situation to analyze the practice of truth-telling. Only a community that places truthfulness within the context of covenantal relationships can deal redemptively with deception and wrongdoing. Several of her examples help the reader understand the uniqueness of this practice for healthy communities. [End Page 246]Andrew WattsBelmont UniversityCopyright © 2014 Society of Christian Ethics... (shrink)

The article deals with the public debt security in accordance with the realities of fiscal policy in Ukraine. There were identified the main disadvantages of the Ukrainian public debt risk assessment system. There was investigated world experience the debt security estimation indicators. Recently the debt security estimation in the conditions of financial and economic stagnation shows the rapid growth of debt burden, its indicators exceeded the maximum allowable parameters, primarily, due to externalities under the influence (...) of budgetary and currency risksexacerbation. There were offered the main direction of improving the debtmanagement in Ukraine, in particular, to extend and legislate debt security indicators; to develop a unified methodology for assessing debt risk by systematizing a list of debt risk indicators for weighting coefficients, a ball scale, such as a "temperature matrix"; to use indicators of elasticity in calculating the level of debt security, debt risks; to develop а unified methodology for evaluating and implementing a medium- and long-term risk strategy for managing sovereign debt with the targeting of financial and debt sustainability determinants and the possible to use the model of "financial suppression". (shrink)

The paper reviews the basics of development and implementation of the debt policy of Ukraine, outlines its formation principles and establishes requirements to normative legal documents which specify administrative measures in the field of the public debt. The research conducted shows that the main normative legal documents which govern activities of state administration bodies responsible for the debt policy implementation are the State Budget and the Program for State Debt Management of the Ministry of Finance of (...) Ukraine. An analysis of the structure of the above documents and ensuing governmental regulations of Ukraine indicates that the national debt policy is not a separate link of the public financial administration, it is shaped subsequent to the results of managerial decisions in the field of monetary relations, changes in the taxation system, operation of the efficiency control system of national taxes, the government deficit level, impacts of foreign economic factors etc. It is proved that debt operations in Ukraine are becoming a factor of economic risk for the state budget whereas the debt budget itself is becoming a destabilization factor. The budgetary policy of Ukraine, which is primarily aimed at maximization of tax collection, results in distortion of the public finance system and aggravates the economic status of numerous industries. The public debt service expenses are however still increasing and require public borrowings which keep growing year by year. The author indicates that the most unsuccessful decisions of the national leadership, which brought about a higher public debt, are the issue of internal public bonds for capitalization of the Privatbank PJSC in 2017 and poor state control over quasi-fiscal operations which may result in default of national Compulsory Social Insurance Funds on their obligations, accumulation of debts on VAT refund, remission of dead tax debts, instalment payment and deferral of money liabilities or tax debts of taxpayers, attraction of sovereign credits by resident economic entities, debt restructuring of such entities with public guarantees, supply of natural gas to heat-and-power engineering companies for generation of thermal energy at preferential prices, accrued receivables of the National Joint-Stock Company 'Naftogaz Ukrainy' for sale of natural gas to the population and heat-and-power engineering companies. (shrink)

While structural approaches to sustainability have remained unable to muster wider political support, green political theory has for some time taken a voluntarist turn, arguing that deep changes in attitudes and behaviour are necessary to reduce the ecological debt of the rich countries. Within environmental citizenship theory it is believed that justice requires each individual to start living within his or her 'ecological space'. Firmly rooted in the pollution paradigm, environmental citizenship theory holds that the path to (...) class='Hi'>sustainability goes through a dramatic reduction in economic activity and international trade. Since such cuts in material welfare run counter to the preferences of many, doubts can be had about their political plausibility. More seriously, with a world population of more than seven billions, it is doubtful that even such harsh sacrifices would suffice to ensure environmental sustainability. This article challenges environmental citizenship theory by arguing that it is tied to a conception of sustainability which is both theoretically misleading and strategically unfortunate in a rapidly industrialising world. Instead of further individual guilt, there is an urgent need to define new collective progressive projects aimed at universal affluence and natural restoration. Fashionable as a sense of individual guilt may be, it fails to recognise the responsibility of the rich world to provide new technologies capable of securing global environmental sustainability. (shrink)

The COVID-19 pandemic has shaken the world. After liberalization in 1991, microfinance became a panacea for poor people without collateral and information asymmetry. The higher cost of microfinance and debt traps highlighted the need for the state to intervene in resource redistribution. In addition, national lockdowns and COVID-19 restrictions have made it difficult for emerging economies like India to achieve this sustainable development goal. The Reserve Bank of India introduced self-help group (SHG) bank linkage to ensure the financial inclusion (...) of the poor. The difference-in-difference method examined how SHGs affect entrepreneur households’ income. CMIE Consumer Pyramid dx data were used for analysis. The data establish that SHGs have increased the income of the households, and demographic factors such as education, income level and gender also impact the financial inclusion of the poor. (shrink)

Beginning with a sustained analysis of Seneca's theory of monarchy in the treatise De clementia, in this text Peter Stacey traces the formative impact of ancient Roman political philosophy upon medieval and Renaissance thinking about princely government on the Italian peninsula from the time of Frederick II to the early modern period. Roman Monarchy and the Renaissance Prince offers a systematic reconstruction of the pre-humanist and humanist history of the genre of political reflection known as the mirror-for-princes tradition - a (...) tradition which, as Stacey shows, is indebted to Seneca's speculum above all other classical accounts of the virtuous prince - and culminates with a comprehensive and controversial reading of the greatest work of renaissance political theory, Machiavelli's The Prince. Peter Stacey brings to light a story which has been lost from view in recent accounts of the Renaissance debt to classical antiquity, providing a radically revisionist account of the history of the Renaissance prince. (shrink)

Franz Rosenzweig is widely regarded today as one of the most original and intellectually challenging figures within the so-called renaissance of German-Jewish thought in the Weimar period. The architect of a unique kind of existential theology, and an important influence upon such philosophers as Walter Benjamin, Martin Buber, Leo Strauss, and Emmanuel Levinas, Rosenzweig is remembered chiefly as a "Jewish thinker," often to the neglect of his broader philosophical concerns. Cutting across the artificial divide that the traumatic memory of National (...) Socialism has drawn between German and Jewish philosophy, this book seeks to restore Rosenzweig's thought to the German philosophical horizon in which it first took shape. It is the first English-language study to explore Rosenzweig's enduring debt to Hegel's political theory, neo-Kantianism, and life-philosophy; the book also provides a new, systematic reading of Rosenzweig's major work, _The Star of Redemption._ Most of all, the book sets out to explore a surprising but deep affinity between Rosenzweig’s thought and that of his contemporary, the German philosopher Martin Heidegger. Resisting both apologetics and condemnation, Gordon suggests that Heidegger’s engagement with Nazism should not obscure the profound and intellectually compelling bond in the once-shared tradition of modern German and Jewish thought. A remarkably lucid discussion of two notably difficult thinkers, this book represents an eloquent attempt to bridge the forced distinction between modern Jewish thought and the history of modern German philosophy—and to show that such a distinction cannot be sustained without doing violence to both. (shrink)

The figure of Richard Rorty stands in complex relation to the tradition of American pragmatism. On the one hand, his intellectual creativity, lively prose, and bridge-building fueled the contemporary resurgence of pragmatism. On the other, his polemical claims and selective interpretations function as a negative, fixed pole against which thinkers of all stripes define themselves. Virtually all pragmatists on the contemporary scene, whether classical or "new," Deweyan, Jamesian, or Peircean, use Rorty as a foil to justify their positions. The resulting (...) internecine quarrels and divisions threaten to thwart and fragment the tradition's creative potential. More caricatured than understood, the specter of Rorty is blocking the road of inquiry and future development of pragmatism. Reconstructing Pragmatism moves beyond the Rortyan impasse by providing what has been missing for decades: a constructive, non-polemical account of Rorty's relation to classical pragmatism. The first book-length treatment of Rorty's intellectual debt to the early pragmatists, it establishes his selective appropriations not as misunderstandings or distortions but as a sustained, intentional effort to reconstruct their thinking. Featuring chapters devoted to five key pragmatist thinkers - Peirce, James, Dewey, Royce, and Addams - the book draws on archival sources and the full scope of Rorty's writings to challenge prevailing misconceptions and caricatures. By illuminating the critical resources, still largely untapped, that Rorty offers for articulating classical pragmatism's ongoing relevance, the book reveals limitations in the received images of the classical pragmatists that predominate in current debates and opens up new modes of understanding pragmatism and why it matters today. (shrink)

The main aim of this study is to undertake a critical examination of the ethical and developmental performance of an Islamic bank as communicated in its annual reports over a period of 28 years. Islami Bank Bangladesh Limited’s ethical performance and disclosures are further analyzed through interviews conducted with the bank’s senior management. The key findings include an overall increase in ethical disclosures during the study period. However, the focus on various stakeholders’ needs has varied over time reflecting the evolving (...) nature of the Islamic finance industry over the last three decades. Based on a secular economy, IBBL focused in the first two decades on the “Particular” Shariah compliance disclosure as a way of establishing its reputation and differentiating itself from conventional banks in a dual banking system. Post 2005, the ethical performance and disclosure shifted to more “Universal” disclosures such as sustainability, charity, employees, and community related disclosures signaling responsible conduct and the bank’s adoption of a “wider stakeholder approach.” However the bank is still failing to provide full disclosure on certain significant categories such as sources and uses of disposable income, thereby contradicting the principles of full and comprehensive disclosure and accountability. In addition, the structure of IBBL’s investment portfolio reveals an overreliance on debt-based financial instruments and a shortcoming in fulfilling the developmental and social objectives of Islamic finance. This is evidenced by the “qualified” Shariah Supervisory Board reports that the bank consistently received. This research provides further evidence that Islamic banking and Finance in its current practices reflect the “global” and the “local” influences in an era dominated by global conventional finance. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Diacritics 31.1 (2001) 56-72 [Access article in PDF] Deconstruction and ZionismJacques Derrida's Specters of Marx Christopher Wise No differance without alterity, no alterity without singularity, no singularity without here-now. —Jacques Derrida, Specters of Marx Introduction Following Jacques Derrida's first sustained critique of Marx and Marxism in Specters of Marx: The State of the Debt, the Work of Mourning, and the New International (1994), an expanded version of his (...) lectures delivered at the University of California, Riverside, in May 1993, numerous "Marxist" theorists have responded to his provocative (and, for some, "untimely") intervention. Several of these critical responses have been gathered in Michael Sprinker's volume Ghostly Demarcations: A Symposium on Jacques Derrida's "Specters of Marx" (1999), which includes contributions from such diverse theorists as Pierre Macherey, Antonio Negri, Fredric Jameson, Terry Eagleton, Aijaz Ahmad, and many others. Important omissions from Sprinker's book include Gayatri Chakravorty Spivak's "Ghostwriting" (1995), an essay that Derrida nonetheless comments upon in his response "Marx & Sons," or any other feminist analysis of Specters of Marx, a curious absence in a text so riveted by questions of patriarchal affiliation. An even more startling omission from Sprinker's book is any analysis of Derrida's discussion of the Middle East, especially his remarks on the State of Israel and "a certain Jewish [i.e. Zionist] discourse on the Promised Land" [Specters of Marx 60] ("un certain discours juif de la Terre" [Spectres de Marx 104]). The myopic range of Marxist critiques of Specters of Marx is regrettable insofar as both Derrida and his Marxist critics ostensibly offer "radical" or "oppositional" perspectives on George H. W. Bush's New World Order while ignoring imperialist practices in places like Jerusalem, Golan Heights, the West Bank, and the Gaza Strip. In The End of the Peace Process (2001), Edward W. Said observes, "[w]hen one considers the broad lines of Jewish philosophy from [Martin] Buber to [Emmanuel] Levinas and perceives in it an almost total absence of reflection on the ethical dimensions of the Palestinian issue, one realizes how far one has to go" [208]. Said does not include Derrida in this trajectory of Jewish philosophers, possibly because Derrida has repeatedly disavowed any explicit affiliation with Judaism as religion, but I will argue here that Derrida's disavowal is implausible if not altogether disingenuous. In Ghostly Demarcations, Marxist responses to Derrida reveal how little real progress has been made in Western literary theory since the early 1980s, when now-tired debates about the Yale School echoed in nearly every humanities' corridor in the [End Page 56] United States. There are surely more compelling reasons to read Derrida today than to settle old scores with Ithaca-Irvine varieties of deconstruction. A key goal of this article is to enunciate Derrida's elision of the Palestinian question, not so much to undermine Specters of Marx, but to extend its power by venturing into domains that Derrida himself refuses to explore, a factor that weakens without totally disabling his deconstruction of Marxist theory. 1 The Rhetoric of Alterity In Specters of Marx, Derrida offers a complex, challenging, and virtuostic evaluation of Marx, focusing largely on "The Communist Manifesto" and The German Ideology. In particular, Derrida fixes his attention upon Marx's hostile and allegedly "obsessive" critique of Max Stirner, a rival Hegelian and "egological" anarchist. Derrida's criticisms of Marx turn on questions of spectrality, a suggestive way of describing the process whereby alienated or reified objects project illusory autonomy back upon the human subject. For purposes of the present essay, I draw attention to the rhetorical dimensions of the exchange between Derrida and his Marxist interlocutors, rather than the many subtleties implied by their respective analyses of this "new" concept formation. Such a strategy is useful not only because Derrida himself relies upon it in his essay "Marx & Sons," but also because it reveals key assumptions held by Derrida about deconstruction's political value, especially in the Middle East. Various contributors to Sprinker's volume do an impressive job of analyzing Derrida's critique of spectrality, especially Jameson, Warren Montag... (shrink)

The recent renewal of interest in the philosophy of Henri Bergson has increased both recognition of his influence on twentieth-century philosophy and attention to his relationship to phenomenology. Until now, the question of Martin Heidegger’s debt to Bergson has remained largely unanswered. Heidegger’s brief discussion of Bergson in Being and Time is geared toward explaining why he fails in his attempts to think more radically about time. Despite this dismissal, a close look at Heidegger’s early works dealing with temporality (...) reveals a sustained engagement with Bergson’s thought. In The Origin of Time, Heath Massey evaluates Heidegger’s critique of Bergson and examines how Bergson’s efforts to rethink time in terms of duration anticipate Heidegger’s own interpretation of temporality. Massey demonstrates how Heidegger follows Bergson in seeking to uncover “primordial time” by disentangling temporality from spatiality, how he associates Bergson with the tradition of philosophy that covers up this phenomenon, and how he overlooks Bergson’s ontological turn in Matter and Memory. Through close readings of early major works by both thinkers, Massey argues that Bergson is a much more radical thinker with respect to time than Heidegger allows. (shrink)

The popularity of rule-consequentialism among philosophers has waxed and waned. Waned, mostly; at least lately. The idea that the morality that ought to claim allegiance is the ideal code of rules whose acceptance by everybody would bring about best consequences became the object of careful analysis about half a century ago, in the writings of J. J. C. Smart, John Rawls, David Lyons, Richard Brandt, Richard Hare, and others.1 They considered utilitarian versions of rule consequentialism but discovered flaws in the (...) view that attach to the wider consequentialist doctrine. In the eyes of many, the flaws were decisive. Brad Hooker has produced brilliant work that unsettles this complacent consensus.2 Over a period of several years he has produced a sustained and powerful defense of a version of rule consequentialism that does not obviously succumb to the criticisms that have been thought to render this doctrine a nonstarter. He acknowledges intellectual debts to Richard Brandt. But Hooker avoid certain excrescences in Brandt’s efforts to conceive of morality as an ideal code of rules. Most notably, Hooker eschews Brandt’s misguided attempt to derive some version of rule utilitarianism from an underlying commitment to some form of contractualism. Moreover, Hooker has worked to articulate a version of rule consequentialism in sufficient detail that one can see how the different parts of the doctrine hang together and how the best version of the.. (shrink)

The current crisis is one outcome of the financialisation of contemporary capitalism. It arose in the USA because of the enormous expansion of mortgage-lending, including to the poorest layers of the working class. It became general because of the trading of debt by financial institutions. These phenomena are integral to financialisation. During the last three decades, large enterprises have turned to open markets to obtain finance, forcing banks to seek alternative sources of profit. One avenue has been provision of (...) financial services to individual workers. This trend has been facilitated by the retreat of public provision from housing, pensions, education, and so on. A further avenue has been to adopt investment-banking practices in open financial markets. The extraction of financial profits directly out of personal income constitutes financial expropriation. Combined with investment-banking, it has catalysed the current gigantic crisis. More broadly, financialisation has sustained the emergence of new layers of rentiers, defined primarily through their relation to the financial system rather than ownership of loanable capital. Finally, financialisation has posed important questions regarding finance-capital and imperialism. (shrink)

As a historical figure, Lamarck proves a rather difficult subject. His writings give us few explicit leads to his intellectual debts; nor do they present his theories as the outcome of any sustained course of observations or experimental research; and, what is equally frustrating, it is hard to see how his personal development as a scientific theorist was affected by the dramatic political and social upheavals of the period, in which he took an active and lively interest. And so, with (...) his importance for later writers much clearer than his relationship to those of his own and earlier ages, historians have repeatedly interpreted his works as prophetic of doctrines developed more fully by subsequent generations. No less surprisingly, this facile tactic has provoked a reaction; we have been offered Lamarck as a Stoic, a romantic, harking back to Heraclitus. (shrink)

Green finance plays a crucial bridge as an intermediary between finance and the environment, facilitating resource allocation. The disclosure of environmental information (EID) is vital for promoting sustainable economic development. This study utilizes panel data covering the period from 2012 to 2019, focusing on Chinese companies listed in high-polluting industries. The findings demonstrate that green finance policies have a significant positive impact on EID, while increased managerial power has a detrimental effect. However, green finance policies can mitigate the negative consequences (...) arising from moral hazard and adverse selection resulting from managerial power. They enhance the quality of EID by restricting long-term loan resources for polluting entities. The heterogeneity test reveals that the effectiveness of green finance policies in promoting EID varies across different regions of China. In non-state-owned companies, green finance policies are more effective in constraining managerial power. The moderating effect of green finance on managerial power is weakened by improvements in internal control. Green financing can offset the adverse impact of managerial power on EID when debt levels are high. Our research plays a crucial role in advancing micro-academic studies in the field of green finance. By strengthening internal controls for corporate managers and promoting EID policies, we provide essential support and guidance to decision-makers. (shrink)

When Emmanuel Levinas writes (in the preface of Totality and Infinity) that Franz Rosenzweig’s Stern der Erlösung is “a work too often present in this book to be cited,” he effectively names his debt to F. W. J. Schelling as well, for Rosenzweig’s work was a sustained attempt to carry to completion Schelling’s great philosophical fragment, the Weltalter. Scholars of Levinas have explored Levinas’s relationship to Schelling, but I confess that, as a Schelling scholar, I knew nothing of this (...) connection until rather recently. I credit above all the energetic work of Jason Wirth for helping me see its importance — and more generally the importance of reading Schelling in the context of recent work in continental philosophy. None of this has been easy. The very thing that Schelling and Levinas have in common, their resistance to the implicit solipsism of overcoming mystery with clarity, make them poor candidates for quick appropriation and comparison. Indeed, Schelling anticipated Nietzsche by openly mocking the scholars who make it their business to “appropriate and compare.” Mockery and ridicule is, ofcourse, not Levinas’s way of going about things. Even so, he too is so relentless in his polemic against the totalizing desire to know that he forces his reader to pause and question just what a proper scholarly response to his work might be. As such, the very first result of taking up the question of Schelling and Levinas might be that we are forced to set aside the scholarly mask, testimony of one’s acquiescence to the order of the same, in order to step forth as the human beings that we are. Whether this is an act of humility or of arrogance is not at all clear. Dispensing with the pretense of knowledge takes a kind of boldness on our part — for what but knowledge might give us a claim to the attention of others? (shrink)

From a feminist perspective, I am interested in ‘women's ways of knowing’ ( et al., ) and the relationship between knowledge, difference and power ( et al., ). Here I trace the relevance of Gramsci to my own feminist consciousness, and the part he played in my journey to praxis. I also address feminism's intellectual debts, most particularly in relation to the concept of hegemony. The intellectual context has shifted in emphasis from macro‐ to micro‐narratives which reject Marxism as masculinist (...) and dichotomous. The dilemma has been an overemphasis on the personal‐cultural at the expense of the collective‐political, distracting us from action for social justice at the same time as globalisation is creating escalating world crises of justice and sustainability. In conclusion, I advocate a re‐reading of Gramsci in the light of key feminist critiques of class and patriarchy in order to develop i) analyses based on multiple sites of oppression and ii) action which reaches from local to global through alliances to achieve a more integrated feminist praxis. Throughout, I use ‘dis’ability and ‘race’ to denote the socially constructed nature of these concepts. (shrink)

Various critiques of important analytic thinkers made by Alain Badiou in the late 1960s have been largely overlooked by continental philosophers and entirely overlooked by analytic philosophers. This paper looks in detail at Badiou’s 1969 essay ‟Mark and Lack,” providing an exposition and clarification of his direct and sustained critique of Gottlob Frege’s supposed ideological philosophical commitments. Badiou’s intellectual context is analyzed in some detail, not only explaining his theoretical debt to his then-master Louis Althusser, but also clarifying his (...) understandings of the notions of ‟the scientific” and ‟the ideological” in light of the projects of Gaston Bachelard and Georges Canguilhem. A philosophical exposition of Badiou’s point-by-point critique of Frege’s conception of logic follows. Finally, the paper concludes with an analysis of the more general relevance of Badiou’s half-century-old critiques in light of developments in contemporary analytic metaphysics, especially those indebted to W. V. O. Quine and Donald Davidson. In essence, Davidson’s Fregean reconfiguration of Tarski’s work on truth places contemporary analytic metaphysics within the scope of what Badiou directly criticizes. It is suggested that Badiou’s critique find a place in discussions of analytic metaphysics. (shrink)

The crisis in student loans has grown to the point that outstanding student loan debt will likely exceed $1 trillion in early 2012. Yet employment prospects for college graduates have grown alarmingly bleak, particularly since 2008. The downturn in the world economy since 2008 is itself, in substantial measure, the outcome of the historic peaking of world oil production rates within the past six years. With the onset of permanent oil production rate declines within a few years’ time, the (...) world economy faces an epoch of contraction destined to last decades. These broader economic developments are setting the stage for a tragic bursting of the bubble in student loan debt. The situation also raises acute moral questions revolving around a basic conflict between the interests of the institutional complex of higher education and the masses of students who financially sustain that complex. (shrink)

Since the revival of historicist philosophy of science in the 1960s many philosophers have acknowledged a debt to Duhem. But Duhem’s opinions are imperfectly understood and, as McMullin has shown in his (1970) and (1979), there are many strands in the current revival of historicism. We consider here Duhem’s views on the role of history in the appraisal of scientific theories. However, there is no single text offering Duhem’s views on the subject; rather, they are revealed during their application (...) to various historical and contemporary cases. Duhem’s most sustained examination of a contemporary case is his critique of Maxwell’s science and scientific methodology.Duhem’s critique of Maxwell is not a set of isolated or incidental dicta, but the expression of Duhem’s mature thought over the last quarter-century of his life, ranging from (at least) 1893 to his death in 1916. (shrink)

The conjoining of civic republicanism and green politics is a new but timely response to understanding and navigating a path through and beyond our turbulent times. A green republican analysis our contemporary condition–climate breakdown, rising inequality, the crisis of representative democracy–sees the structural and ideological imperative of endless economic growth as one root cause. From a green republican perspective economic growth has now passed a threshold where it has become a threat, both to the sustainability/longevity of the polity, but (...) also common goods and human flourishing. This paper identifies and analyses key components of the growth imperative, such as debt-based consumerism and non-democratic workplaces, as well as more widely discussed requirements of growth to externalise ecological and social costs, and growth’s dependence on cheap and secure sources of fossil resources. It argues that these components of growth pose serious risks to liberty as nondomination, the securing and protecting of common goods, rough equality and securing the ecological conditions for the republic. Therefore, these ‘green’ concerns should be also concerns for republicans. The paper looks at one recent strategy that has been proposed to help move societies beyond climate breakdown and carbon-addiction–namely the ‘Just Transition’ discourse and set of policy proposals. The paper offers a green republican account of the Just Transition strategy for a post-or low carbon economy in which equality, justice and democratic participation are central. (shrink)

Medieval and early modern Jewish philosophers developed their thinking in conversation with various bodies of literature. The influence of ancient Greek – primarily Aristotle (and pseudo-Aristotle) – and Arabic sources was fundamental for the very constitution of medieval Jewish philosophical discourse. Toward the late Middle Ages Jewish philosophers also established a critical dialogue with Christian scholastics. Next to these philosophical corpora, Jewish philosophers drew significantly upon Rabbinic sources (Talmud and the numerous Midrashim) and the Hebrew Bible. In order to clarify (...) the unique as well as shared elements in the thought of medieval Jewish philosophers, we will begin this chapter with a brief study of some early Rabbinic sources on the purpose of the world, i.e., why it came to be and why it is sustained in existence. In the second part of this chapter, we will study Maimonides’ critique of the veracity and usefulness of the belief in (anthropocentric) teleology, and the critical reception of his views by later philosophers. The third part will address discussions of divine teleology in Kabbalistic literature. Our exposition will concentrate mostly on a specific early-eighteenth-century text that is one of the most lucid and rigorous presentations of Lurianic Kabbalah. The fourth and final section will elucidate Spinoza’s critique of teleology, its precise target and scope, and its debt to earlier sources discussed in this chapter. (shrink)

Already known for his penetrating, and sometimes idiosyncratic, interpretations of the later Wittgenstein, John Hunter, of University College, Toronto, now offers eight essays on independent topics. Each of the essays stands on its own, but they are clearly the work of a single mind and together constitute a sustained contribution to current discussion of that area of metaphysics sometimes called philosophy of mind. Although the debts to, and the insight into, Wittgenstein are substantial, I do not wish to document them.

Power is now measured by economic strength. The world is becoming more integrated. Europe and the Pacific are challenging US dominance. The debt crisis is a crisis in capital and job creation. In the future, key economic issues will be job creation, increased production, grassroots development and safeguarding the poor from the debt crisis. The most viable form of employment will be in small scale enterprises. These meet the real needs of the poorest, are locally owned and controlled, (...) produce products for a local market and use locally available resources. They contribute to economic stability, are not subject to international currency fluctuations and use an environmentally sustainable technology. (shrink)

Our ability to successfully fight major challenges of climate change is diminished by rising social and economic inequality. One important source of inequality can be identified in the formula of compound interest which describes unlimited growth of monetary assets and debts based on the law of exponential growth. The paper suggests a novel way to calculate compound interest in times of crisis based on a mechanism that could mitigate the effects of economic competition and help achieve sustainable life on our (...) planet. (shrink)

Kit Pedler, the scientist who co-created the ?DoomwatchOCO television series to warn us of the dangers of technology, presents his vision of a totally different way of being in the world. Mankind, Pedler believes, stands at a critical point in history and has to reassess its relationship and the web of interactions that make up the total life-form of the planet. Pedler calls this life-form Gaia, after the Greek earth mother goddess, a being whose sole concern is the survival of (...) the planet itself. Mankind is provoking the wrath of the life-form by its high technology, accelerating entropy and production of planetary disorder. Can we halt the technological Behemoth and live in harmony with the planet again? Kit Pedler says ?yes, we can, indeed, that we have no choice but to do soOCO. He outlines highly practical ways every individual can change his or her way of life to reduce our personal entropy debt. Do we need to eat factory-farm beef rather than, the sun-product, grain? Must be build homes from steel and concrete rather than, the renewable earth-product, timber? Is there an alternative to expensive, and ecologically destructive, drugs? From experiments with his own lifestyle Kit Pedler comes to some profoundly optimistic conclusions. He demonstrates how low-entropy living can have unexpected rewards, from restoring our respect for the creatures with which we share the earth, greater independence and freedom through learning abandoned skills and, above all, by the recovery of a lost vision, once possessed by our forefathers, which enables us to see and feel in ways forgotten by industrial man. The Quest for Gaia is an exhilarating and optimistic book, and a challenge to capture a rewarding and sustainable future for ourselves and our earth. It is a blueprint for the Age of Gaia.". (shrink)

This article examines the US student debt crisis through a queer, feminist lens attuned to matters of the material. Examining the discourse of ‘failed’ and/or forestalled millennial adulthood, I argue that the student debt crisis is a product of neoliberal, racial capitalism, and its profit resides in its financialisation. Drawing on queer and feminist theories regarding time and futurity and current research on student debt, I examine the configurations and effects of what I term the ‘student-debt-as-hetero-failure (...) discourse’, which renders the crisis of student debt legible through a heteronormative life narrative, and obscures the racialised, gendered realities of student debt. The student-debt-as-hetero-failure discourse illustrates how under racial capitalism, heteronormative temporality is structurally conditioned via race. Examining US media coverage, I assert that the reprosexually oriented student-debt-as-hetero-failure discourse legitimises new financial products that enable debtors to sustain and reproduce themselves via more debt. (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)

_International Justice and the Third World_ vindicates belief in global or universal justice, and explores both liberal and Marxist grounds for such belief. It also investigates the presuppositions of belief in development, and relates it to sustainability, to environmentalism, and to the obligation to cancel Third World debt.

Microfinance is the vanguard of financialization today. This is especially true in Colombia, where microfinance rivals any other type of formal credit. Entangled with Colombia’s micro-financialization is the phenomenon of microfinance corporations in joint ventures with Christian organizations that broker their microfinance programs. These faith-based corporations temper the surge in microfinance with ascetic discipline and the infusion of an entrepreneurial spirit. Economic discipline, say the microfinanciers, is required for what is referred to as ‘financial literacy’ and ‘financial inclusion’ programs that (...) instil a distinctly Christian corporate order. This article, based on 2 years of sustained fieldwork in Colombia, focuses on one such microfinance program run by a transnational Christian credit organization. With microfinance, souls are disciplined through debts and ideals of an ascetic prosperity. In the end, the article concludes that there is a Christian morality to financialized capitalism that is exercised at the level of the interior soul. (shrink)

:Terrence Malick's film The Tree of Life revisits many of the questions regarding a Christian theodicy. How, for example, can one reconcile the idea of providence or believe in the meaning of human suffering when life itself is subject to and even dependent on chance and violence? In order to sustain faith in providence in such a universe, Malick suggests that one must be willing to absorb the insults of accident and sacrifice the human drive to control and master one's (...) own destiny. In his invocation of Job, his allusions to Dostoevsky's The Brothers Karamazov, and his debt to Kierkegaard, Malick suggests that the recompense for this sacrifice is an intensification of appreciation for existence itself and for the spiritual value of biological and geological processes. In this way, the film offers an insightful ecotheology that makes earth more central to a Christian ethos. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Journal of the History of Philosophy 39.3 (2001) 448-449 [Access article in PDF] James Van Cleve. Problems from Kant. New York and Oxford: Oxford University Press, 1999. Pp. xii + 340. Cloth, $45.00. The author acknowledges his debt to the "great Kant books of the 1960s, Jonathan Bennett's Kant's Analytic, and P. F. Strawson's The Bounds of Sense."Their analytical spirit lives on in this book, but the analyses (...) are fresh, take surprising turns, and make unexpected connections to current concerns. In seventeen chapters Van Cleve deals with necessity and the a priori, space and geometry, incongruent counterparts, time, the ideality of matter, experience and objects, substance in the First Analogy, the Second Analogy, noumena, problems of the self, rational theology, and Kant and contemporary irrealism. To sustain the flow of argument, the discussion of certain details, often important, is postponed and taken up in fifteen appendices, and there are nearly seventy pages of careful notes.Chapter 10, "Noumena and Things in Themselves," (134 ff.) criticizes in detail the prevailing "one world" or "double aspect" view of objects, namely that Kant allows just one set of objects, but two ways of "considering" them. Things in themselves are the very same objects as appearances, but considered as they are independent of our experience of them, a view developed in Henry Allison's Kant's Transcendental Idealism. Against this Van Cleve maintains (and I concur) that "appearances are intentionalia, and that intentionalia are constructions out of states of perceivers" (150). The distinction is between two separate universes of discourse, "not between two ways of discoursing [End Page 448] about the same objects" (ibid.). There is no space to report the sharply argued detail that led him to hold the double aspect view to be unfathomable and incoherent. He takes Kant to be a phenomenalist but holding to a version far removed from the reductionist phenomenalism of Russell, Broad, Price, and others. Here the basic elements are not made out to be indubitable givens, but are, rather, sensations. The structures built on them are, according to Van Cleve, "virtual objects" in the sense in which Quine speaks about "virtual classes." To say that something is an element of a class {F:Fx} is only to say that it is F. So, likewise, to say that, e.g., a patch of red exists is short for saying that a certain representation occurs. Carnap's Kantian masterpiece, TheLogical Structure of the World (The Aufbau) could have been consulted as a comprehensive guide to the kind of virtuality here envisaged.It is Van Cleve's stated aim never to discuss Kantian arguments without making their premise and conclusion structure clear (viii). Quite a few of them he finds persuasive; in other cases the arguments are valid, but one or the other premise doubtful. Sometimes he sides with Kant against his critics, sometimes the opposite, and occasionally, as in the case of the Second Analogy, it remains unclear what Kant's argument was. He has shown in this and earlier publications that all reconstructions are flawed, so that either Kant had no good argument, or his argument has not yet been discovered.The title Problems from Kant must be taken seriously. The book rarely deals with textual problems, historical context, or translation difficulties. Rather, the focus is on perennial and still compelling problems. Themes from the First Critique are tracked to and connected with current concerns and sometimes recently ventilated issues are traced back to Kant, as in the last chapter, where the question is raised if Kant was an internal realist in the style of Putnam, or perhaps an anti-realist like Dummett. The contrast with Kant shows that like all complex positions, these are shopping baskets with several goods in them, some in Kant's inventory, others not.Logical notation is used sparingly, and only where it clarifies—no attempt here to shoehorn arguments into unneeded symbolism. Deft examples, Kant's weakness, are a strength of this book. To explain the logic of considering Van Cleve asks, "Consider me apart from my shoes, am I barefoot... (shrink)

Based upon the work of C. H. Douglas, this paper explores the role of debt in the economy. In the 1920s Douglas observed the workings of financial mechanisms within the real economy, noting that they could be modified to achieve a socially and ecologically sustainable economics of sufficiency. Douglas' exploration of the role of debt in the economy accords well with Veblen's institutional analysis, while his writing reverberates with Veblenian terminology. As an economist, Douglas is both intuitive and (...) eclectic, and, as Mehta observes, ‘no writer in economics has made his thought so opaque to the reader.’ Nevertheless, Douglas' rejection by orthodoxy was due in no small measure to the impracticality of tailoring his theoretical observations within the constraints of neo-classical general free market equilibrium theory. Although they gave rise to a widespread popular movement, Douglas' proposals for debt-free finance of production could not be accommodated within economic orthodoxy. (shrink)

Dissipative structures exist at all scales, systems, and at different levels of complexity. A thermodynamic theory integrating simple and complex DS is introduced, which addresses existence of growing/decaying DS based on their entropy analysis. Two entropy-based dimensionless ratios are introduced, which explain negentropy-debt payment and existence of DS with growth or decay. It is shown that excess negentropy debt payment is needed and beneficial for growing DS; but for decaying DS, it hastens its approach to perish and is (...) counter-productive. Growing complex DS tend to pay lower negentropy debt to their surroundings, due to involvement in other activities enabled by complexity; e.g. mediation for survival that is linked to their mortality. Hence, disorder of complex DS increases, due to which, their growth can be un-sustained, leading to entry in decay-phase in spite of availability of adequate mass-energy in-flows. Proper handling or reduction of complexity enables growth in the direction of ideal growth, which is limited only by availability of adequate mass-energy in-flows. (shrink)

Jacques Derrida delivered the basis of The Specters of Marx: The State of the Debt, the Work of Mourning, & the New International as a plenary address at the conference ‘Whither Marxism?’ hosted by the University of California, Riverside, in 1993. The longer book version was published in French the same year and appeared in English and Portuguese the following year. In the decade after the publication of Specters, Derrida’s analyses provoked a large critical literature and invited both consternation (...) and celebration by figures such as Antonio Negri, Wendy Brown and Frederic Jameson. This forum seeks to stimulate new reflections on Derrida, deconstruction and Specters of Marx by considering how the futures past announced by the book have fared after an eventful quarter century. In this fifth group of contributions, three philosophers explore the specters of colonialidade, the specifically Brazilian legacies of Portuguese and European coloniality. Carla Rodrigues opens the dialogue by exploring the haunting and melancholy provoked by colonial forms of violence and shows how confronting Brazilian necropolitics sustains the Derridean legacy; Rafael Haddock-Lobo offers a meditation on the difficulties of being before the law and standing before specters as a means of being justly haunted by the others of European philosophy in Brazil; finally, Marcelo Moraes continues the theme of Europe as a specter-producing machine and invokes specifically the presences of indigenous and Afro-Brazilian political resistances with the aim of deconstructing coloniality. (shrink)

Does CEO tolerance to risk affect a firm’s long-run sustainability? Using CEO insider debt holding, we show that CEO’s risk-aversion encourages immoral yet rational decisions of emitting more greenhouse gas thereby adversely affecting the firm’s long-run sustainability. Our result is robust to several endogeneity tests including a quasi-natural experiment. Our finding also suggest that to mitigate potential adverse reactions from stakeholders, carbon emitting firms with risk-averse CEOs tend to spend more on CSR activities. Much of the heterogeneity (...) in our results are attributed to companies with weaker governance, powerful CEOs, and operating in a competitive product market. Overall, contrary to conventional wisdom, CEO preference toward risk-aversion can often lead to unethical outcomes (environmental degradation) and especially appears to be a key determinant for firm-level carbon emissions. (shrink)

The concept of 'sustainable development' as used by the Brundtland Commission was meant to separate environmental policy from distributional conflicts. Increases in income sometimes are beneficial for the environment, but higher incomes have meant higher emissions of greenhouse gases, and higher rates of genetic erosion. In the aftermath of the Rio conference of June 1992, this article analyses some unavoidable links between distributional conflicts and environmental policy. Often, environmental movements have tried to keep environmental resources and services outside the market, (...) but there are now attempts to establish property rights on, and to give money values to environmental resources and services, such as agricultural genetic resources and the CO2 absorption facility provided by the oceans and new vegetation. European 'green' proposals to impose an 'eco-tax', and proposals from India to create a world market for CO2 emission permits are considered. The issue raised by the growing Third World agroecology movement, of payment of 'farmers' rights' for in situ agricultural biodiversity is discussed. The article includes a short discussion of the North American free trade agreement between Mexico and the USA, in so far as it involves so-called 'ecological dumping', i.e. trading at values which do not include environmental costs. In the last sections, the article asks how prices in ecologically-extended markets would be formed, how much such prices will depend on distribution, and how much such payments would change distribution of income. Environmental movements of the Poor are faced with the dilemma of keeping environmental resources and services out of the market, or else asking for property rights to be placed on them. (shrink)

A major contradiction of globalisation lies in the universalisation of the imperatives of international finance-capital. The ascendancy of international finance has kept inter-imperialist rivalry under check since the past few decades, and imperialist nation-states under its imperatives have displayed greater unity under the leadership of the US. But the dominance of speculative finance and the deflationary impact it generates, threatens to precipitate worldwide recession. The US is trying to pre-empt any potential competition in this milieu, by pursuing an aggressive and (...) unilateralist military policy of endless war. However, the capacity of the US to sustain such high levels of military expenditure and debt-induced consumer spending is circumscribed by the fragility of the dollar hegemony in the backdrop of the growing indebtedness of the US vis-à-vis the rest of the world. Re-appearance of recessionary conditions in the US would be set the stage for inter-imperialist contradictions as well as the contradiction between imperialism and the Third World to play themselves out and create possible ruptures in the present world order. (shrink)