Abstract

The use of lexical signs like ‘knowledge’ has consequences. Not only do they have direct psychological resonances, but people ascribe beliefs and act based on their semantics. This paper proposes that such consequences are up for negotiation, and introduces a formal framework from financial theory to suggest constraints on those negotiations and implications of those constraints. The upshot is that changing language will be easier sometimes than others, and philosophers’ projects of linguistic change should be aware of those conditions.