Banks face a dilemma in choosing between maximising profits and facilitating the sustainable use of resources within a carbon-constrained future. This study provides empirical evidence on this dilemma, investigating whether a bank loan announcement for a firm with high carbon risk conveys information to investors about the firm’s carbon risk exposure collected through a bank’s pre-loan screening and ongoing monitoring. We use a sample of 120 bank loan announcements for ASX-listed firms over the period 2009–2015. We measure high carbon risk (...) exposure based on whether firms meet the reporting threshold of the NGER scheme. We document positive and significant excess loan announcement returns for loan renewals for high carbon risk firms, but not for loan initiations. Further, we document a more significant loan announcement return for renewals with favourable term revisions. Finally, we find no evidence that the market differentiates between domestic and foreign lenders. Taken together, our results suggest that investors perceive that banks incorporate carbon risk considerations into their lending decisions. Our results highlight the value of banks as financial intermediaries given the information asymmetry surrounding firms’ carbon risk exposure, and more generally the need to extend modern banking theory to consider issues such as the impact of banks’ CSR reputation on lending decisions. (shrink)

Source: Author: Uzoamaka S. Chigbu, Chijindu Promise Ubah, Ezeji E. Chigbu The level of bank development has a determinant effect on the growth potentials of a developing economy. In response, this study examined the impact of banking sector development on foreign investment inflows in the West African countries of Nigeria and Ghana. The study relied on secondary data for analysis and made use of multiple regression technique. However, to ensure the authenticity of our result, Augmented Dickey-Fuller unit root test (...) and Johansen Cointegration techniques were respectively employed to test for the presence unit root and long-run equilibrium relationship in the exogenous variables. Additionally, causal relationships were tested with Granger Causality. It was revealed that banking sector development has a significant influence on foreign investment inflows in the two West African countries. Specifically, domestic credit to private sector and bank deposit rate has significant influence on foreign investment inflows in both countries. Whereas domestic credit to private sector is directly related to the dependent variable in Ghana, it is related inversely in Nigeria. It was also discovered that bank lending rate is significantly and positively related to foreign investment in Ghana. Intermediation efficiency and profitability of banks should be improved by enhancing the capital structure and adopting the appropriate lending rate especially in Nigeria as measures to attract more inflows of foreign investment in both countries. ]]>. (shrink)

Redish et al. rely too much on a rational and innate view of decision-making, when their emphasis on variation, their integrative spirit, and their neuroscientific insights point towards a broader view of why addiction is such a tenacious problem. The integration of subjective, sociocultural, and evolutionary factors with cognitive neuroscience advances our understanding of addiction and decision-making.

Müller & Schumann (M&S) deserve applause for their interdisciplinary examination of drug use, evolution, and learning. Further steps can deepen their evolutionary analysis: a focus on adaptive benefits, a distinction between approach and consummatory behaviors, an examination of how drugs can create adaptive lag through changing human niche construction, the importance of other neurobehavioral mechanisms in drug use besides instrumentalization, and the importance of sociocultural dynamics and neural plasticity in both human evolution and drug use.

A comparative examination of four alternative ways of understandingwhat human rights are supports an institutional understanding assuggested by Article 28 of the Universal Declaration: Human rightsare weighty moral claims on any coercively imposed institutionalorder, national or international (as Article 28 confirms). Any suchorder must afford the persons on whom it is imposed secure accessto the objects of their human rights. This understanding of humanrights is broadly sharable across cultures and narrows the philosophical and practical differences between the friends ofcivil and (...) political and the champions of social, economic, andcultural human rights. When applied to the global institutionalorder, it provides a new argument for conceiving human rights asuniversal – and a new basis for criticizing this order as tooencouraging of oppression, corruption, and poverty in the developing countries: We have a negative duty not to cooperatein the imposition of this global order if feasible reforms ofit would significantly improve the realization of human rights. (shrink)

Should the foreign debt of the world’s poorest countries be cancelled? In this essay, I am concerned with whether a generational perspective makes a difference in answering this question. I will show that it does, and that alternative accounts of repayment obligations are possible. I argue that a distributive theory of justice is not only appropriate to address the challenges to justice raised by long-term sovereign indebtedness, but that it is also superior to the solution offered by the odious (...) debt doctrine.Unlike the odious debt doctrine, a distributive view is capable of taking intoaccount the separateness of generations. More specifically, I also argue thatthe need to preserve creditors’ incentives to lend to the poor in order toensure that the latter keep having access to credit for important development purposes requires the adoption of a narrow, problem-specific view, which focuses on the distributive impact of the loan transaction, rather than a broad distributive view, which looks at the general distributive situation of the two descendent communities. (shrink)

The practice of hiring foreign coaches to lead national teams has been on the rise and is especially visible at the Olympic Games. It has been criticised in both the receiving and the lending countries as a breach of patriotic duty. In a recent publication I defended expatriate coaching as a morally unobjectionable practice with many beneficial effects. In this article, I extend my defence of expatriate coaching into the realm of the Olympic Games. I argue that when (...) articulated from the perspective of moderate patriotism this practice is not only compatible with Olympism, the philosophical vision that underpins the Olympic movement, but also that it enacts and advances the tenets of this vision. In the process, I provide a coherent explanation for the Olympic authorities' lack of an official stance on expatriate coaching and reflect on their disparate stand on the nationality of coaches and athletes. (shrink)

A hallmark of Western culture is a massive moral confusion, rendering the very idea of virtue "exotic and incomprehensible." McInerny here drags the conversation back to the beginning, establishing the terms and the tools of what it means to think and to do what is moral. As he asserts, the virtuous life and the moral life are one and the same. To be moral is to be good, and the goodness of one's acts reflects the fundamentals of thought placed in (...) the service of a pursuit of a virtuous life. Why is the concept of a virtuous life so foreign to many? We do not know the basics of a moral life. As McInerny states, "To be good we have to know what that means." The two biggest judgments one will make during life pertain to knowing what is good, what is bad, and the difference between the two. This bleeds into a study of morality and ethics when it pertains to concrete acts, but in reality all aspects of our lives bear on these judgments. "Being ethical is not simply a state of mind, it is a state of being, a way of living one's life that reflects the fundamental principles of ethics [...] [it is one] who lives in a certain way." Nevertheless, the subject of this book focuses on ethics--namely, the goodness or badness of human acts. McInerny's great reason for writing this work is to teach the reader that he or she cannot properly tackle ethical questions (even if they are not identified as such) if one is not himself or herself actually ethical (living virtuously). Writing very much as a teacher of teachers, McInerny relies on the foundations of Aristotle and Thomas Aquinas, as well as his late brother, Ralph McInerny, to reiterate the principles of ethics that inform both thought and act. To speak of ethics, then, is to admit a commitment to virtue and how the theoretical distinction of good and bad is necessarily practical. Acting well will lead to thinking better, but McInerny notes that culture has lost sight of the former and thereby the coherency to address ethical questions. Being Ethical aims to correct this disconnect in forty-eight cogent lessons. Being Ethical is fundamentally intended to serve as a sequel to D. Q. McInerny's Being Logical (Random House, 2004), which has remained in print and has been translated into six languages. Its style lends itself to being used as a textbook in liberal studies. More generally, it is a refreshing presentation of this topic and timely and timeless exhortation to readers of the necessity of a love of virtue for ethical thought. For friends and students of Aristotle, Thomas Aquinas and Ralph McInerny, this book bears a style and manner that is both familiar and much loved. (shrink)

Recent research suggests that collectivism breeds corruption in bank lending. This finding, together with the stickiness of culture, poses a direct challenge to economic growth in collectivist societies. In this paper, we address this grim outlook by examining the types of firms that are susceptible to the detrimental effect of collectivism on lending integrity and the formal institutions that can help alleviate such effect. We find that the adverse effect of collectivism on bank corruption is more severe in (...) small and medium-sized firms, privately owned firms, and non-exporting firms, while it is considerably weaker in countries with more effective private monitoring, a higher fraction of foreign-owned banks, a more competitive banking sector, better information sharing, and stronger legal and political institutions. Our findings are robust to using alternative measures of collectivism and alternative dependent variables. These results highlight how firm-level characteristics and formal institutions interact with collectivism in affecting firms’ access to bank credit. (shrink)

At least since Athenian trade sanctions helped to spark the Peloponnesian War, economic coercion has been a prominent tool of foreign policy. In the modern era, sovereign states and multilateral institutions have imposed economic sanctions on dictatorial regimes or would-be nuclear powers as an alternative to waging war. They have conditioned offers of aid, loans, and debt relief on recipients’ willingness to implement market and governance reforms. Such methods interfere in freedom of trade and the internal affairs of sovereign (...) states, yet are widely used as a means to advance human rights. But are they morally justifiable? -/- Drawing on human rights theories, theories of justifiable harm, and examples such as IMF lending practices and international sanctions on Russia and North Korea, Fabre offers a defense of economic statecraft in some of its guises. An empirically attuned work of philosophy, Economic Statecraft lays out a normative framework for an important tool of diplomacy. (shrink)

My dissertation combines a historical case study with an argument derived from the philosophy of science. Why do states act the way they do, and how should foreign policy actions be explained? I begin by showing how existing explanations advanced both by historians and social scientists have problems incorporating intentional factors into the framework of their analyses. The historian will always be tempted to overwrite the meanings of the past with the meanings she constructs through her own narrative; the (...) social scientist is tempted to neglect intentions since they don't easily lend themselves to scientific manipulation. ;My own argument begins by trying to make sense of 'meaning.' We create meaning through metaphor and as we expand metaphors into narratives we come to see certain actions as required. Which stories that we do tell about ourselves, however, depends upon the audiences we address. Through our narratives we constantly seek support and recognition. Our narratives consequently perform two tasks. On the one hand they define what our interests are, but on the other hand, they also define our identities. On this basis I develop two different models for explaining action: one which explains action as undertaken in defense of interests, the other as undertaken in defense of an identity. ;The historical case study explains why Sweden went to war in 1630. Although historians traditionally have explained the action as undertaken for various economic, political or military reasons, I show that none of these factors can account for the intervention. 'Interests' were not at stake. Instead the action is best explained as a defense of a particular definition of a Swedish national identity. The country, and especially its king, was denied recognition as a legitimate actor in international politics, and it went to war in order to force the European powers to grant them the recognition that hadn't been granted freely. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:Kinship across Borders: A Christian Ethic of Immigration by Kristin E. HeyerVictor CarmonaKinship across Borders: A Christian Ethic of Immigration By Kristin E. Heyer WASHINGTON, DC: GEORGETOWN UNIVERSITY PRESS, 2012. 198 PP. $29.95Heyer renders an important service to the discipline, which has not seen a book-length account of a Christian immigration ethic since Dana Wilbanks’s Recreating America (1996). In Kinship across Borders, Heyer provides a nuanced and comprehensive (...) theological ethical analysis of undocumented immigration and argues that “a Christian immigration ethic calls believers to promote structures and practices marked by kinship and justice” (4). To that end, she advances four distinct theses in as many chapters—interpretations of personhood, sin, family, and solidarity—each appropriating a specific resource from the Christian tradition in order to reorient immigration policies from a “paradigm centered on national interest, expediency, or economic efficiency” to one that is person centered (4). Her project challenges American Christians to reckon with their responsibility in advancing structures and furthering ideologies that sustain forced migrations, including economic refugees, in the Western Hemisphere.Chapter 1 relies on Margaret Farley’s “obligating features of person-hood”—namely, autonomy and relationality—to identify the prevailing immigration paradigm, which views immigrants as economic commodities, security threats, and/or foreigners to be assimilated (21). This paradigm reflects internalized ideologies and a series of external structures that weaken the personal agency of immigrants who, in significant ways, “are unable to [End Page 194] determine the direction their lives will take” (22). Chapter 2 turns to Catholic social encyclicals and liberation theology to develop a dialectical interpretation of personal and social sin. Heyer posits that though persons are responsible for their actions, they “remain subject to external [structural] influences” that limit the ways in which they may exercise their agency (46). She uses this idea not to accuse undocumented immigrants but rather to highlight the sinful ideological blinders that often limit American Christians’ capacity to act hospitably towards them. “Given the relationship between the United States and sending countries in geographic, economic, and political terms,” she writes, “US citizens may be willfully negligent of or indirectly responsible for the conditions that give rise to undocumented migration across their borders” (46).Chapters 3 and 4 provide robust accounts of cross-border kinship in the context of the family and globalization, with their rich visions of human relationships that break open the prevailing immigration paradigm. For example, though familismo among Latin American immigrants may lend itself to restrict women’s personal agency, it nevertheless offers an “extensive and malleable understanding of kinship networks, … [with] boundaries among members that remain fluid and transcend genetics,” thus broadening the relationships within which to flourish (82). To address global kinship, Heyer develops an account of institutional, incarnational, and conflictual solidarity that breaks free from the tendency to frame the immigration debate in the United States as a purely domestic issue that lacks meaningful global implications. Chapter 5 concludes the book by identifying implications for reorienting immigration policy and rhetoric as well as Christian ethics so that they better account for the immigrant experience by developing the necessary resources, including a more robust understanding of moral agency in the midst of marginalization.The argument is strongest in chapters 2 and 3, which develop a crisp critical analysis of the sources and insightful interpretations of often overlooked ones, including immigrants’ experiences. Furthermore, Heyer adeptly engages multiple US Hispanic theologians and Christian ethicists in ways that sharpen her argument throughout. The argument is weakest in chapter 5 because it does not fully integrate earlier insights on cross-border familial and global kinship while accounting for civic kinship. I strongly recommend Kinship across Borders for upper-level undergraduate and graduate students taking courses on Catholic social thought, Protestant social ethics, and theology and/or ethics of migration. [End Page 195]Victor CarmonaOblate School of TheologyCopyright © 2015 Society of Christian Ethics... (shrink)

In the early modern period (16?18th centuries), churches and state administrations alike strove to eradicate Evil. Neither they nor society at large accepted a conceptual differentiation between crime and sin. The two worst kinds of Evil early modern societies could imagine were organized arson and witchcraft. Although both of them were delusions, they nevertheless promoted state building. Networks of itinerant street beggars were supposed to have been paid by foreign powers to set fire in towns and villages. These vagrant (...) arsonists can be regarded as the terrorists of the early modern period. Witches were persons who had allegedly made a compact with the devil. They were thought to randomly use maleficent magic to harm individuals as well as whole regions. When law enforcement agencies and suspicious peasants or townspeople tried to identify persons who might be arsonist terrorists or witches they used the category ?Evil?. Anyone who ignored the behavioral standards of society ever so slightly could be suspected of being utterly evil. The concept of Evil linked petty, commonplace immorality and the worst crimes imaginable to each other and to the mindless hatred of demons. This pre-modern concept of the banality of Evil was called into question by the legal reforms of the 17th century. It was finally rejected by the enlightenment that negated the imagined continuum of Evil. Witches and arsonist terrorists shared a number of characteristics. They were both said to form conspiracies that mirrored everyday society like an evil twin. The crimes they perpetrated lacked any purpose or reason, they were motivated by sheer malice. The worst forms of Evil had certain qualities of an epidemic: Witchcraft and terrorism were supposed to be always on the rise. The evil people were victimizers as well as victims. The imagery of Evil even implied that the evildoers resembled those they were supposed to have harmed. The fear of terrorist vagrants and witches as well as other conspiracy theories can be traced back to the Black Death. The plague of the 14th century not only sparked anti-Semitism. It lend force and credibility to the idea of an irrationally destructive, ever-growing secret organization as the epitome of Evil. (shrink)

We are already witnessing the emergence of a new economic paradigm - the sharing economy - that will radical transform way of life of society. The new economic paradigm is based on the values of a post-modern society - the imperative of sustainable development models, the growth of meaningful consumption and the development of new types of solidarity. The diversity of business and non-profit sharing services is a result of the growing areas of the sharing economy, the improvement of the (...) technological infrastructure. The sharing economy takes place in organized systems or networks, in which participants conduct sharing activities in the form of renting, lending, trading, bartering, donation and swapping of different physical and non-material resources. The sharing economy framework is an "umbrella" concept. This approach generates not only problems, but has benefits. "Flexible" methodologies that focus on the process of changing sharing practices provide great opportunities for understanding current socio-economic changes and making trustworthy forecasts. Global and country-specific factors determinate the development of sharing projects. Specific factors can include specific tax regimes; expansion of foreign digital platforms that popularize the culture of sharing, socio-cultural practices of non-market exchanges that have developed in countries, which are easily transferred and scaled from an offline to an online, etc. Russian authorities provide the best competitive conditions for sharing services, increase participants' trust, provide information support and promotion. The lack of state support for some sharing sector leads to a slower its development. (shrink)

The paper deals with Forward exchange contracts and Swap exchange contracts, These two types of contracts are among the most prominent types of financial derivative contracts that arose after the collapse of the Bretton Woods system in 1971 or the so-called Nixon shock, where the convertibility of the dollar into gold was stoped, which led to turmoil in the exchange rates of the currencies of many countries and the emergence of the need to stabilize the exchange rate Currencies in transactions (...) where the delivery of the two exchanges is delayed. This research has studied forward exchange contracts and swap exchange contracts in four sections. The first section defines the Forward exchange contract, which is a contract in which the two parties commit to exchange a specified amount of foreign currencies on a forward date, at a price agreed upon in advance. The elements and elements that must be mentioned in this contract, such as the seller and buyer, the size of the contract, the date of delivery and the forward exchange rate, were mentioned in this section, with an illustrative example of the mechanism of conducting this contract. In addition to addressing the differences between forward exchange contracts and future exchange contracts, the characteristics of forward exchange contracts and the purposes of those dealing with them from hedging and speculation are mentioned in this section. The second section has been devoted to the definition of swap exchange contracts, it is for the two parties to the contract to agree that one of them buys from the other a specific amount of a currency in exchange for a specific amount of another currency and at the current exchange rate, provided that the two exchanges are delivered immediately, and in the same contract, the two parties agree to make a forward reverse exchange contract, at a price determined within Contract, and to clarify the picture of swap exchange contracts, an example has been given to illustrate the mechanism for conducting this type of contract. In the third section, the views of contemporaries scholars regarding the İslamic law of the forward exchange contract were discussed, where the opinion of the objectors was mentioned at all and the evidence they inferred from it. And then the opinion of those who advocate the permissibility of forward exchange contracts that are in the form of a dating that is not binding on both parties together, provided that there is nothing in the dating that indicates that it is a contract of sale and provided that a new contract is delivered independent of the dating. Then I discussed the opinion and evidence of the impediments in four points, and I concluded that the most correct opinion at the first is the impermissibility of the forward exchange contract in the form such as the traditional banks do it because of the deception it contains. But I recanted and permitted this type of contract in two cases, the first: the case of need with the absence of an alternative, and the second: the case that transaction is not binding dating for both parties and on some terms. Some contemporary scholars suggested conducting buying and selling operations in the same currency as an alternative to forward exchange contracts, and some of them suggested that Islamic banks should have a common unit of account to settle accounts between the parties to commercial transactions. But in my opinion two solutions are often not feasible. As for the fourth section, I dealt with the opinions of contemporary scholars in the swap exchange contract. it seems likely to me that swap currency exchange contracts are nothing but a usurious loan that is prohibited by Sharia. Because when examining the mechanism of conducting this type of contract, it turns out that one of the parties lent the other an amount in one currency in exchange for the other lending him an amount in another currency under the name of the spot exchange contract. Since one of the two parties requires the other to increase what he lent - if the exchange rate of the Forward exchange contract is different from the Spot exchange rate, which is predominant - under the name of the Forward exchange contract, then this process is nothing but a usurious loan. I supported the proposal to exchange loans in different currencies as a İslamic alternative to transaction contracts, provided that there is no preference for one party over another, and there is no usurious increase. And in order to solve the problem of the high rate of currency inflation of one of the two loans more than the other, the researcher suggested adding the inflation rate to the two loans when they are performed. (shrink)

A common assumption within the migration ethics literature is that it is only states that have the power to admit foreigners to their territory. However, this assumption misses something important. While it is true that it is states that have the ultimate power to admit, other actors can possess a derivative power from the laws that states put in place. By establishing a system of work visas, for instance, states lend private corporations, and other employers, the power to nominate foreigners (...) for admission by making job offers. For many foreigners, a job offer is what they require to start a new life in a new country. The question then arises how corporations should use this derivative power? One might assume that they should use it as they typically do: to pursue their business interests and by doing so (we hope) benefit their stakeholders including the state and its citizens. However, could there not be other reasons, besides profit seeking, to offer refugees a visa-conferring job? If hiring refugees does not greatly harm their business, it is arguable that corporations could be obliged to use their derivative power to do so on humanitarian grounds. Moreover, some corporations also seem to be obliged to use this power on grounds of corrective justice. This paper advances these possibilities. It has three sections. First, I will look at how much discretion corporations have in terms of employment and migration laws in some European countries. Second, I will present an argument for why corporations are morally permitted to facilitate admission for refugees by offering them a visa-conferring job. In the final section, I will then defend a stronger claim, namely that corporations are possibly obliged to do so on humanitarian grounds or on grounds of corrective justice. (shrink)

Third World countries should exploit the genetic information stored in their flora and fauna to develop independent and highly competitive biotechnological and pharmaceutical industries. The necessary condition for this policy to succeed is the reshaping of their universities and hospitals—to turn them into high-caliber research institutions dedicated to the creation of original knowledge and biomedical invention. Part of the service of the Third World foreign debt should be co-invested with the lending banks in high technology enterprises. This should (...) be complemented with an active program of investments in First World biotech companies and university research departments which could contribute to the solving of problems connected with the First World. These strategic alliances would allow effective training of molecular biologists, improvement of South American universities, and education of biotechnologists, managers, and lawyers in the complexities of high-technology business. The establishment of real joint ventures between developed and underdeveloped countries might contribute to change the present strained relations between the North and the South, and science and technology could become real forces of social and economic development. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Historical Representation and the Nation-State in Romantic Belgium (1830–1850)Jo TollebeekThe transformation of the Ancien Régime society of estates into the modern state system as it exists in Europe today was concluded during the “long nineteenth century.” This process of transformation came about in two waves. In a first wave—during the decades preceding and following the French Revolution, roughly the years 1780-1848—the framework for the nation-state was created. It was (...) mainly the liberal bourgeoisie which stood at the forefront. After the Congress of Vienna, where the “ante bellum” situation had been restored, it led more or less successful national revolutions in Germany, Italy, Spain, Belgium, and Poland. In a second wave, starting with the Franco-Prussian War of 1870 and ending with the First World War, the framework of the nation-state was filled in. In those years a growing number of social groups found accommodation in the liberal house, which they also managed thoroughly to rebuild. This period can be described as the phase of integrated nationalism.Together with the nation-state came the rise of modern national his-toriography. The most well-known exponents of this typically nineteenth-century genre were the monumental outlines of national pasts which started appearing from 1890 onward. Karl Lamprecht in Germany (Deutsche Geschichte, 1890–1909), Pieter Jan Blok in the Netherlands (Geschiedenis van het Nederlandsche Volk, 1892–1908), Henri Pirenne in Belgium (Histoire de Belgique, 1900–1932), and Ernest Lavisse and his collaborators in France (Histoire de France, 1901–11) all gave their respective countries’ pasts an impressive, scholarly design. The first phase of the emergence of the nation-state, however, was also ac-companied by a stream of national histories. Johannes von Müller in Switzerland (Geschichten Schweizerischer Eidgenossenschaft, 1786–1808), Simonde de [End Page 329] Sismondi in Italy (Histoire des Républiques italiennes du Moyen Age, 1807–18), Augustin Thierry in France (Lettres sur l’Histoire de France, 1820–27), and Willem Bilderdijk in the Netherlands (Geschiedenis des Vader-lands, posthumously 1833–53) all became authors of patriotic and romantically tinted surveys and studies of (fragments from) their own national history.The work of this second group of historians fits with the cultural nationalism which took root during the last decades of the eighteenth and the beginning of the nineteenth centuries and which is sometimes considered to have been the heart of romantic nationalism. 1 The supporters of this nationalism were con-vinced that culture, lifestyle, and social institutions could only be understood as the expression of the “soul,” the “spirit,” or the “character” of a people or nation. They tried to deduce this individual character through the language, popular literature, art, and “national” (as opposed to Roman) law, as is demonstrated by the Gaelic revival in Ireland. 2 History, however, also attracted their interest; the nation and the people were after all considered to be dynamic entities which developed along the lines of a multiple causal process. In England, for example, where nationalism arose as a protest against excessive foreign—French—cultural influence, a group of historians, among them Catherine Macaulay and John Pinkerton, started publishing nationalistic histories during the early years of George III’s reign, paying special attention to the origin of the English people. 3 Such cultural nationalism could, however, easily take on political overtones, especially when it was the nationalism of a people who were either stateless or dispersed throughout different states, or whose state was still young.These earliest national histories were meant as a contribution to the formation, consolidation, and confirmation of a national identity. Their writers had to lend unity, specificity, and continuity to the national past. They had to, as Novalis observed in 1798, “organize historical essentials.” 4 Their work was less a matter of reconstruction than of construction. It not only required the exploration of a hitherto unknown field, but first and foremost the resolution of new problems of representation inherent in the writing of “national biographies.” In this essay, I shall discuss some of these problems in the light of Belgian national historical writing from 1830 through 1850. The year 1830 constitutes an important watershed in the history of national movements... (shrink)

In this article, I reply to commentators Leonard Feldblyum, Robert Holub, and David Owen on my article “The Biology of Evil.” While I concede that Nietzsche often invoked standard degenerationist rhetoric about breeding, I argue that Nietzsche, unlike other degenerationists, never offered any concrete plans for such breeding and was not interested in raising the capacities of average citizens, but rather was concerned with the exceptional few. I argue that these “strokes of luck” do not readily lend themselves to planned (...) breeding programs. I concede that Nietzsche did not favor societies that allowed for the integration of foreign elements, but rather some alternation between regimented hierarchical societies and motley societies. However, against Holub's and Feldblyum's contention that Nietzsche was interested in the alleged Jewish problem of his day, I expand on my claim that, for Nietzsche, the current malaise is more a product of the workings of the ancient than the modern Jews. And against Owen and Holub, I defend the claim that degeneration theory was fundamentally Manichean and that Nietzsche resisted this Manichean tendency. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:Becoming Nonviolent Peacemakers: A Virtue Ethic for Catholic Social Teaching and US Policy by Eli Sasaran McCarthyMarc V. RuganiBecoming Nonviolent Peacemakers: A Virtue Ethic for Catholic Social Teaching and US Policy Eli Sasaran McCarthy EUGENE, OR: PICKWICK PUBLICATIONS, 2011. XVII 1 259 PP. $32.00Contemporary US political discourse is generally couched in the language of rule-based rights analysis or utilitarian calculus, both of which limit the imagination of decision-makers (...) and society at large. In Becoming Nonviolent Peacemakers, Eli Sasaran McCarthy seeks to disrupt any complacency Americans and our representative leadership might have with these ethical approaches. Drawing on well-reasoned philosophical arguments and the witness of paradigmatic figures, McCarthy builds a case for public policies of nonviolent peacemaking created from and analyzed through the framework of virtue ethics. Such policies, he posits, would not only achieve a more comprehensive agenda of peacemaking but would also approach more closely the vision of Dr. Martin Luther King Jr.'s "Beloved Community."McCarthy's project is ambitious and multifaceted. He sets out to synthesize critiques of prevailing rule- and strategy-based assessments of nonviolent [End Page 204] peacemaking, making proposals for a virtue-based assessment from Christian, Hindu, and Muslim sources as well as with the best contributions of human rights theory in order to supplement a virtue approach. At the outset he states, "My thesis is that a virtue-based assessment of nonviolent peacemaking enhanced by aspects of human rights discourse largely resolves key limits of rule-based and strategy-based assessments of nonviolent peacemaking for public discourse and policy" (2). To prove this, he grapples with influential scholars on the subject, such as James Childress and Gene Sharp, to show how deontology and consequentialism too narrowly constrain the vision of what nonviolent peacemaking can achieve, both in effect and the formation of agents' character. Addressing the work of Bernard Häring, Stanley Hauerwas, and Lisa Sowle Cahill, he brings the fruit of Christian theological ethics to bear on the advantages of a virtue-based assessment of nonviolence. Though that is significant enough, McCarthy also presents the life and work of both Mahatma Gandhi and Abdul Ghaffar Khan to demonstrate the consonance of a virtue approach even across cultural and religious lines. He finally plots a way forward using the best of rights theory and virtue theory to show how nonviolent peacemaking fulfills the Catholic social tradition's vision of human dignity and the common good.McCarthy lends much to the argument that "we ought to consider nonviolent peacemaking a distinct virtue rather than merely subsuming it in the paradigmatic actions of other virtues" (75). With scripture at its foundation and positioned within the traditions of virtue ethics and the Catholic social doctrine, he weaves a tight argument for nonviolence within a Christian context while also aiming to be approachable and sympathetic to non-Christian perspectives. Because of the contemporary context of McCarthy's project, he does focus his attention almost exclusively on twentieth- and twenty-first-century sources; it would be helpful to be already familiar with virtue ethics and its classic sources, like Aristotle, Cicero, and Aquinas.McCarthy writes clearly and directly to readers, making the schema of his argument explicit in each chapter. His extensive referencing and ample bibliography engage both academic research and popular journalism, making this a great resource for those pursuing public theology and students in advanced undergraduate and professional study. His last chapter, which provides a case study regarding the Sudanese genocide in Darfur, applies his peacemaking proposals in a compelling thought experiment. One can hope McCarthy's continued research yields not only more case studies that invite creative problem-solving through the virtue of nonviolent peacemaking but also a book-length study that challenges US domestic policy as successfully as his investigation of US foreign policy here. [End Page 205]Marc V. RuganiThe Catholic University of AmericaCopyright © 2017 Society of Christian Ethics... (shrink)

У статті проведено аналіз впливу зовнішньополітичного аспекту на процес генезису "нової релігійної політики" Й. Сталіна, її інституціоналізації та причин, що призвели до охолодження в державно-церковних відносинах наприкінці 40-х років ХХ століття. Показані роль та місце, яке займали євангельські церкви в цьому процесі.

In Foreign Native, RW Johnson looks back with affection and humour on his life in Africa. From schooldays in Durban -- fresh off the boat from Merseyside -- to later years as an academic, director of the Helen Suzman Foundation and formidable political commentator, he has produced an entertaining and occasionally eye-popping memoir brimming with history, anecdote and insight. Johnson charts his evolution from enthusiastic, left-leaning Africanist to political realist, relating the episodes that influenced his intellectual worldview, including time (...) spent among the exiled liberation movements in London during the 1960s, a sojourn in newly independent Guinea and more recent forays into Zimbabwe. There are wonderful stories, some hilarious, others filled with pathos, about the multitude of characters Harold Strachan, Tom Sharpe, Ronnie Kasrils, Helen Suzman, Frederik van zyl Slabbert, among many others that he met along the way. Perceptive, critical and full of verve, Foreign Native is leavened with a deep humanity that makes it a pleasure to read. (shrink)

There are major concerns about the level of personal borrowing, particularly sourced from credit cards. This paper charts the progress of an initiative to create a Responsible Lending Index (RLI) for the credit industry. The RLI proposed to voluntarily benchmark lending standards and promote best practice within the credit industry by involving suppliers of credit, customer representatives and regulators. However, despite initial support from some banks, consumer bodies and the Chair of the Treasury Select Committee, it failed to (...) gain sufficient support from financial institutions in its original format. The primary reasons for this were related to the complexity of building such a robust index and the banks trade body’s fear of exposing its members to public scrutiny. A revised alternative, the Responsible Lending Initiative, was proposed which took into account these concerns. However, the Association of Payment Clearing Service (APACS), the trade body of the credit industry, then effectively destroyed the proposal. This article describes an attempt to address the challenges in the credit card industry with the initiation of the RLI, reflected in stakeholder discourse and in the context of a wider concern expressed by the involved stakeholders in terms of the need for greater responsibility in the banking industry’s lending practices. (shrink)

The middle east -- The democratization mirage -- No clash of civilizations -- China -- Fighting China? -- A new approach for U.S.-China relations -- EU -- The EU community deficit -- How to not assimilate new immigrants -- Global -- Defining down sovereignty -- Spheres of influence -- Self-determination : the democratization test -- Privacy vs. security : should the tech companies decide?

This article discusses the category of foreigner in the context of academia. In the first part I explore this category and its philosophical significance. A quick look at the literature reveals that this category needs more attention in analyses of dimensions of privilege and disadvantage. Foreignness has peculiarities that demarcate it from other categories of identity, and it intersects with them in complicated ways. Devoting more attention to it would enable addressing issues affecting foreigners in academia that go commonly unnoticed. (...) In the second part of the article I argue that current efforts to make academia a more inclusive environment should address the disadvantages that many foreign academics face. I focus on two senses of foreigner: working and living in a country that is not your country of origin, and being a nonnative speaker of the language in which you work. (shrink)

The American regulatory model of corporate governance rests on the theory of self-regulation as␣the most effective and efficient means to achieve corporate self-restraint in the marketplace. However, that model fails to achieve regular compliance with baseline ethical and legal behaviors as evidenced by a century of repeated corporate debacles, the most recent being Enron, WorldCom, and Refco. Seemingly impervious to its domestic failure, Congress imprinted the same self-regulation paradigm on legislation restraining global business behavior, the Foreign Corrupt Practices Act. (...) This anti-bribery initiative prohibits unethical and illegal payments made to foreign public officials in an effort to eradicate bribery as a rational-choice global market entry strategy. However, this paper illustrates, using newly complied statistics from 1977 to 2008, that the FCPA has not had a dramatic impact on U.S. global corporate behavior despite its recent high profile coverage and the tough regulatory rhetoric about corporate compliance. The paper also extends the prior Cragg and Woof FCPA efficiency study and provides current empirical evidence to resolve several unanswered questions raised by that earlier study. (shrink)

Recent studies :98–144, 2002; Weismann, J Bus Ethics 88:615–66, 2009) revealed that in the first 28 years of its existence, the Foreign Corrupt Practices Act was not enforced by the federal government. The Weismann study further concluded that the FCPA, designed by Congress as a self-regulatory model of corporate governance, failed to achieve the regulatory goal of deterring global bribery by U.S. companies. The current article addresses the reasons that the FCPA remains an ineffective measure to control bribery as (...) a global market entry strategy despite the highly publicized 2006 Department of Justice initiative to increase prosecutions and tighten enforcement efforts. The failure arises out of both the increased use of informal dispositions of case prosecutions,, which has made “getting caught” merely an increased “cost of doing business” and the failure to close the regulatory gaps in the statute that permit violators to slip through the enforcement net. The article updates and compiles the case prosecution data for every reported case prosecuted between 1977 and 2011. That data are then compared to the results of a 2010 integrity risk survey performed by Deloitte Financial Advisory Services and Forbes which reveal a widely held global business perception that compliance and integrity risks appear to be rising sharply and that the FCPA is ineffective in deterring bribery and corruption in foreign markets. The article aims to serve as a predictive tool for policy makers and business professionals in assessing risk in the global markets, particularly as commerce intensifies in the BRIC countries, notable for bribery and corruption. (shrink)

Securities lending has been a lucrative business for mutual funds and exchange-traded funds over the past decade. Unfortunately for investors, the sponsors of these funds have not been very transparent with the details of their securities lending programs, and consequently most investors in these funds are unaware of their exposure to the risks inherent in securities lending. Interestingly, most funds do not return the full profits from securities lending activities to their investors. In this paper, we (...) examine and discuss the ethical considerations related to the securities lending activities of mutual funds and ETFs and offer a series of best practices that we believe will provide better transparency of these activities to fund investors. (shrink)

Case study for Business Ethics, 5000 words. Considers the state of the payday lending market in USA and Canada as of March 2018. Suitable for undergraduate or business school use. Includes the discussion of: Storefront and online payday lending in state/province and national contexts. Applicability of the concept of exploitation to payday lending. Alternatives to payday lending ("Payday Alternative Loans" provided through credit unions, and savings incentive programs that reduce demand for payday lending). U.S. government (...) regulation of 2017 that was rescinded shortly before it was to have effects on business, specifically due to change of Presidential administration (January 2018). Class discussion questions. References. (shrink)

This paper analyses the role of foreign and local companies in shaping Brazilian positions on global sustainability. It deals with an empirical investigation of CSR practices of firms from the electronics, food, and personal care sectors in response to pressures of 'market' and 'non-market' stakeholders. The results demonstrate that CSR decisions by foreign and local firms are triggered by organisational considerations and anticipated economic gains. The degree of implementation of CSR activities by foreign firms is more advanced (...) than that of local firms. The survey also confirms the hypothesis that market stakeholders exert pressure on companies and positively influence CSR. Non-market stakeholders seem to have a minor effect on corporate social responsibility decisions. We conclude that the institutional environment is a critical determinant of the extent to which the dialogue between stakeholders and companies leads to the attainment of sustainable development. (shrink)

We examine whether and how CEO foreign experience affects firm’s green innovation. Using a sample of Chinese public companies and hand-collected CEO foreign experience data, we document a positive association between CEO foreign experience and corporate green innovation. Furthermore, consistent with the view that CEOs with foreign experience would play a more significant role when provided with more resources, we find that the positive relationship is more pronounced in less financially constrained firms, in state-owned enterprises, and (...) in less competitive industries. Additional analyses indicate that enhanced environmental ethics and general competency are two potential mechanisms through which CEO foreign experience affects corporate green innovation. Finally, we find that CEO foreign experience is positively related to green innovation quality and internationalization. Collectively, these findings suggest that CEO foreign experience is a significant factor for corporate green innovation in emerging markets. (shrink)

The disclosure of corporate environmental performance is an increasingly important element of a firm’s ethical behavior. We analyze how the legal origin of foreign institutional investors affects a firm’s voluntary greenhouse gas emissions disclosure. Using a large sample of firms from 36 countries, we show that foreign institutional ownership from civil law countries improves the scope and quality of a firm’s greenhouse gas emissions reporting. This relation is robust to addressing endogeneity and selection biases. The effect is more (...) pronounced in firms from non-climate-sensitized countries, for which the gap between firms’ environmental standards and investors’ environmental targets is potentially larger, and in less international firms. Firms with a higher level of voluntary greenhouse gas emissions disclosure also exhibit higher valuations. (shrink)

This paper explores the ways in which a fuller attention to suffering in the tradition of the early Frankfurt School might valuably inform international political thought. Recent poststructural writing argues that trauma is silenced to prevent it disrupting narratives of order and progress and instead advocates a continual ‘encircling’ of trauma that refuses incorporation into a broader historical narrative. This paper welcomes this challenge to mainstream international ethics: attention to particular suffering provides an important challenge to the abstraction, instrumentalism and (...) universalism of modernity. However, if we simply mark trauma and refuse to incorporate it into any kind of narrative, we cannot profit from the ways in which suffering can illuminate the structures and ways of thinking that create it. Drawing on Adorno's negative dialectics, the paper argues that a dialectical understanding of the relationship between universalising order and disrupting particularity can lead from individual suffering towards a political re-engagement with the universal. (shrink)