Alternative currencies are means of payment that circulate alongside—as an alternative or complement to—official currencies. While these currencies have existed for a long time, both society and academia have shown a renewed interest in their potential to decentralize the governance of monetary affairs and to bring people and organizations together in more ethical or sustainable ways. This article is a review of the ethical and philosophical implications of these alternative monetary projects. We first discuss (...) various classifications of these currencies before analyzing the ethical challenges linked to the way they tackle social and environmental issues. We also examine the incentive-based and coercive mechanisms used by these currencies from an ethical perspective and debate the promises and perils of monetary decentralization and democracy. We conclude by identifying an agenda for future research. (shrink)

The main goal of this thesis is to provide a clear basis for the analysis of alternative currencies, such as Bitcoin, LETS, Local currencies, the WIR or Carbon currencies. It attempts to determine whether alternative currencies might constitute just and workable alternatives, either in the form of small-scale experiments or in the form of more radical reforms. The first chapter proposes a new way to classify currencies. The second examines the case in favour (...) of monetary plurality. The third analyses the claims in favour of restricting the use of money locally, within a community, or to certain goods. The fourth studies the link between money and the market. Finally, a post-scriptum focuses on Bitcoin and cryptocurrencies. This thesis highlights that these currencies are drivers of several potential conflicts. Their widespread use might conflict with the adequate management of monetary policy, with social justice, and with liberal values. These conflicts are potential, for they would come into existence only if alternative currencies increased in scope. However, there is no reason to disregard potential conflicts when the case in their favour relies mostly on their potential benefits. (shrink)

The main goal of this thesis is to provide a clear basis for the analysis of alternative currencies, such as Bitcoin, LETS, Local currencies, the WIR or Carbon currencies. It attempts to determine whether alternative currencies might constitute just and workable alternatives, either in the form of small-scale experiments or in the form of more radical reforms. The first chapter proposes a new way to classify currencies. The second examines the case in favour (...) of monetary plurality. The third analyses the claims in favour of restricting the use of money locally, within a community, or to certain goods. The fourth studies the link between money and the market. Finally, a post-scriptum focuses on Bitcoin and cryptocurrencies. This thesis highlights that these currencies are drivers of several potential conflicts. Their widespread use might conflict with the adequate management of monetary policy, with social justice, and with liberal values. These conflicts are potential, for they would come into existence only if alternative currencies increased in scope. However, there is no reason to disregard potential conflicts when the case in their favour relies mostly on their potential benefits. (shrink)

Local Currencies, Local Exchange Trading Systems, and Time Banks are all part of a new social movement that aims to restrict money's purchasing power within a certain geographic area, or within a certain community. According to their proponents, these restrictions may contribute to building sustainable local economies, supporting local businesses and creating “warmer” social relations. This article inquires whether the overall enthusiasm that surrounds alternative currencies is justified. It argues that the potential benefits of these currencies (...) are not sufficient to justify the restrictions they impose on money's purchasing power. Turning these currencies into effective channels of change, by increasing their scope and their strength, could severely hinder the pursuit of social justice, in a way that is probably not even necessary for achieving their objectives. The paper concludes that large-scale limitations of money's purchasing power are, therefore, undesirable. (shrink)

This paper analyzes the proposal that central banks should issue digital currencies (CBDC) to provide a public alternative to private digital accounts and cryptocurrencies. We build on some The promises and perils of central bank digital currencies recent themes in political economy research to give a broader and more balanced perspective than the existing literature, highlighting both the promises and perils of CBDC. We argue that, on the one hand, the present state of the private financial sector (...) is problematic and regulators should seek to tackle the issues of financial power, financial instability and lack of adequate monetary policy options. On the other hand, implementing CBDC comes with risks of its own, such as that of creating a “Frankenstein scenario” where too much power is given to unelected technocrats. Our tentative conclusion is therefore that CBDC should be seen as a second-best option, while the primary focus of policy makers should be on the possibility of financial re-regulation. (shrink)

The Illusion of the Pension Crisis in a Fiat Currency System -/- Introduction -/- Governments and financial institutions frequently warn of a looming pension crisis, claiming that aging populations will drain social security funds and leave future retirees without financial support. However, this narrative is fundamentally flawed. In a fiat currency system, where central banks can print money at will, the idea that there is a shortage of funds for pensions contradicts the basic mechanics of modern finance. Instead, the so-called (...) pension problem serves as a strategic tool to justify population growth, extend working years, and maintain economic control. This essay explores how the pension crisis is manufactured, why the economic system functions this way, and what alternatives could create a more sustainable future. -/- The Fiat Currency Illusion -/- Fiat money is not backed by a physical commodity like gold but instead derives its value from government decree and public trust. Central banks, such as the U.S. Federal Reserve or the European Central Bank, have the power to create unlimited money through digital printing. If governments truly wanted to fund pensions, they could simply issue more currency. The fact that they choose not to highlights that the real issue is not about money but about power, wealth distribution, and economic control. -/- However, printing excessive money can lead to inflation, which erodes purchasing power. If pensions were funded through unrestricted money printing, prices of goods and services would rise, making pensions effectively worthless. But inflation is not an unavoidable consequence—it is often a policy decision influenced by central banks and financial elites to preserve existing economic hierarchies. -/- The Manufactured Pension ‘Crisis -/- The claim that pension systems are unsustainable is rooted in economic and political agendas rather than financial reality. The following key factors reveal why this crisis is artificially constructed: -/- 1. Inflation and Devaluation -/- While governments can print unlimited money, excessive monetary expansion can reduce the value of currency. Instead of managing inflation in a way that supports pensions, policymakers often use it to justify cuts to social programs while maintaining corporate wealth and military budgets. -/- 2. Wealth Protection for the Elite -/- The financial system is designed to benefit the wealthiest individuals and corporations. Rather than directing resources toward pensions, governments prioritize corporate bailouts, financial markets, and debt repayment. By claiming pension funds are running out, they avoid policies that redistribute wealth to the working class. -/- 3. Debt-Driven Economic Model -/- Instead of simply issuing currency for pensions, governments prefer to borrow money, ensuring central banks and private lenders remain in control. This debt-based system forces economies to keep growing, making workers dependent on employment and discouraging early retirement. -/- 4. Manipulating the Workforce Through Scarcity -/- The fear of pension collapse forces people to work longer, delaying retirement and keeping the labor force full. This benefits corporations by ensuring a steady supply of low-cost labor, preventing worker shortages, and keeping wages down. -/- 5. Stock Market and Private Pension Funds -/- Many pension funds are invested in the stock market, making their stability dependent on financial speculation rather than real economic productivity. If governments funded pensions directly, there would be less reliance on volatile financial markets, reducing Wall Street’s control over retirement savings. -/- 6. Control Through Artificial Shortages -/- By creating the illusion of limited pension funds, governments encourage population growth to “replace” aging workers. However, this ignores the real issue—technological automation and AI are reducing the need for human labor, making more workers unnecessary in the long run. -/- The Contradiction: Population Growth vs. Economic Reality -/- Governments argue that a growing population is needed to sustain pension systems. However, creating jobs and starting businesses is becoming more difficult due to several factors: -/- Automation and AI – Many traditional jobs are disappearing as machines and software replace human labor. -/- Market Saturation – Many industries are already flooded with products and services, making new business opportunities harder to find. -/- High Cost of Business Entry – Large corporations dominate markets, making it difficult for small businesses to compete. -/- Regulatory Barriers – Governments impose taxes, licenses, and bureaucracy that make entrepreneurship expensive and complicated. -/- This contradiction exposes a fundamental flaw in the capitalist model: pushing for population growth while failing to create enough sustainable jobs and businesses. -/- Sustainable Alternatives to the Pension System -/- Instead of relying on the outdated idea that pensions must be funded by an ever-growing workforce, societies can adopt new models that ensure financial security without economic manipulation: -/- 1. Universal Basic Income (UBI) -/- Governments could provide a fixed income to all citizens, eliminating the need for complex pension systems and reducing dependence on wage labor. This could be funded through controlled money creation and taxation of high-wealth individuals and corporations. -/- 2. Resource-Based Economy -/- Shifting from a money-driven system to a resource-based economy would prioritize efficient use of materials, automation, and sustainable development instead of profit-driven overproduction. -/- 3. Circular Economy -/- Instead of producing unnecessary products to create jobs, societies could focus on recycling, repair, and sustainability, creating long-term employment in industries that benefit humanity and the planet. -/- 4. Wealth Redistribution Policies -/- Implementing fair taxation on extreme wealth, financial transactions, and corporate profits would allow governments to fund pensions without economic instability. -/- Conclusion -/- The so-called pension crisis is not a natural consequence of aging populations but a deliberate economic strategy designed to maintain corporate power, suppress wages, and justify endless economic expansion. In a fiat currency system, governments have the power to fund pensions without relying on unsustainable population growth or debt-driven economies. However, they choose not to, prioritizing elite financial interests over public welfare. Instead of accepting this flawed model, societies should explore alternatives like universal basic income, sustainable economies, and fair wealth distribution to ensure a future where financial security is not dependent on artificial economic scarcity. -/- . (shrink)

The paper presents the findings of ethnographic research and a survey of a Local Exchange Trading Scheme in North-East London and asks the question of whether the scheme delivers on the aims and objectives of its members. The research found that whilst its members express a strong politically motivated desire for an alternative to the prevailing economic system, the LETS scheme falls short of delivering on those ambitions. The findings raise the question of whether there is anything intrinsic to (...) this form of local community currency that leads it to be more inclusive, egalitarian and fair. (shrink)

How promising is Bitcoin as a currency? This paper discusses four claims on the advantages of Bitcoin: a more stable currency than state-backed ones; a secure and efficient payment system; a credible alternative to the central management of money; and a better protection of transaction privacy. We discuss these arguments by relating them to their philosophical roots in libertarian and neoliberal theories, and assess whether Bitcoin can effectively meet these expectations. We conclude that despite its advocates’ enthusiasm, there are (...) good reasons to doubt that Bitcoin can fulfill its promises and act as a functioning currency, rather than as a mere speculative asset. (shrink)

In the context of a global pandemic, there is good health-based reason for governments to impose various social distancing measures. However, such measures also cause economic and other harms to people at low risk from the virus. In this paper, I examine how to make such trade-offs in a way that is respectfully justifiable to their losers. I argue that existing proposals like using standard QALY (quality-adjusted life-year) valuations or WELLBYs (wellbeing-adjusted life-years) as the currency for trade-offs do not allow (...) such justification, because they give weight to utilities that are irrelevant in a life-and-death context. Drawing on work on restricted aggregation in ethics, I articulate an alternative framework for balancing claims arising from prospects of different kinds of harm and benefit, and show how it can be applied to reasoning about trade-offs in a pandemic context. (shrink)

Understanding the policymaking process in an emerging economy in the global south, such as Bangladesh, holds significant importance. The country's remarkable socio-economic development, once the most impoverished in the region, has been facilitated by post-globalization economic transformation. While the literature on institutional change has predominantly focused on states in industrialist countries, this dissertation presents an innovative theoretical approach. It deeply explores primary case materials to illustrate how the state engages in policy evolution in a developing country's gradual shift from the (...) import substitution model towards globalization and deregulation. The central argument posited is that Bangladesh's globalization, particularly through its private sector-led garment exports, stands as a significant success story. Bangladesh is now the world's second-largest garment exporter after China. This achievement is attributed to the entrepreneurial development it fosters and its role in driving socio-economic change. Moreover, it has enabled the mobilization of resources, reducing aid dependence, enhancing climate resilience, improving public health and wellbeing, empowering women, and addressing critical needs in physical infrastructure and human development. The argument presented here diverges from the conventional explanation found in the literature, which tends to emphasize the role of external forces, particularly institutions like the World Bank, the International Monetary Fund, and donors, in triggering policy reforms in Bangladesh. These reforms, commonly linked with structural adjustment packages implemented during the balance of payments crisis, are frequently perceived as predominantly influenced by external pressures. Additionally, the influence of the business class or Bangladeshi non-governmental organizations (NGOs) is often asserted. This dissertation proposes an alternative explanation by suggesting that ideational viewpoints within the state, specifically the ideas espoused by top technocrats and political executives, played a significant role. It argues that these internal ideational factors were more influential than materialistic ones, highlighting the causal role of the policy process driven by endogenous imperatives. The introduction of the dissertation addresses the research problem and research puzzle while suggesting conjectures after problematizing existing arguments. The significant economic transformation observed in Bangladesh today is portrayed as the outcome of a gradual process spanning several decades. The transition towards promoting the private sector and embracing globalization commenced in 1991, following a series of incremental changes dating back to the 1970s and 1980s. During these periods, the institutional path progressed towards empowering the private sector and embracing globalization, laying the groundwork for a trajectory led by the private sector in the context of globalization. The theory chapter serves to establish the conceptual and theoretical foundation for analyzing both economic change and transformation by examining the evolutionary nature of the process. The study adopts an institutional change framework, drawing on the theory of gradual change and focusing on concepts such as layering and tipping points. Within this framework, causal variables such as powering and puzzling, social learning, and ideas are identified. The methodological approach is grounded in historical institutionalism, employing the process-tracing "within case" method. The selection of cases deliberately targets an important yet under-researched area—the policy process in Bangladesh concerning the success of garment-led industrialization. This dissertation fills a noticeable gap in the literature through rigorous analysis, enabling an in-depth exploration of the institutional dynamics spanning four governments from 1972 to 1991. The study relies on substantial primary materials, including interviews with key officials. Each empirical chapter not only presents data but also connects the findings to conceptual and theoretical conjectures, underscoring the significant contributions of this research. The key causal variables identified include the concepts of ‘puzzling’ and ‘social learning’ within the state capacity framework, along with a narrowly defined and developed concept of a "policy committee." The learning process entails technocrats engaging in what Hugh Heclo and Peter Hall term as "social learning," where they play a crucial role in addressing policy challenges, particularly during times of uncertainty and political turmoil, based on their learning from past experiences. Additionally, the concept of ‘powering’ is highlighted, emphasizing that while technocrats provide policy recommendations, it is ultimately the political executive who endorses policies. The interplay between ‘puzzling and powering’ and ‘social learning’ shapes the outcomes of the policy process. The first empirical chapter focusing on the Sheikh Mujibur Rahman Government (1972-1975) illustrates the emergence of policy learning during this period. Initially, this government pursued import substitution under strict government controls, with a predominant public sector. The historical context of exploitation under Pakistani rule and the centralization of industry by West Pakistan fostered socialism as an ideal for East Pakistan's economic emancipation. Additionally, close ties with India and the Soviet Union reinforced this socialist tendency. However, due to severe economic conditions resulting from stringent control on private investment and emphasis on large-scale public investment, policy puzzling and learning ensued. As a result, incremental changes were initiated, allowing limited private sector participation. The second empirical chapter explores the General Ziaur Rahman government's tenure (1975-1981) and how deregulation was consolidated within a layering step, paving the way for a shift towards globalization. General Zia and his technocrats, operating under authoritarian conditions, acknowledged the inefficacy of existing policies. Furthermore, General Zia's inclination towards the West fostered closer collaboration with donors. The Multifiber Agreement (MFA) presented an opportunity for garments, coinciding with the decline in jute exports. This government opened up industrial sectors for private participation, and banks provided funding across various sectors, with special emphasis on the burgeoning garment industry. The chapter also explores the origins of the garment industry during this period. Notably, Noorul Quader Khan, upon retiring as cabinet secretary, collaborated with a Korean multinational, Daewoo, with the support of General Zia, leading to the establishment of Desh Garments—a pioneering venture that catalyzed the export orientation of the sector. The third empirical chapter delves into the economic policies of the General Hussain Muhammad Ershad Government (1982-1990), highlighting its emphasis on greater private sector involvement. Under this administration, there was a political inclination towards globalization and deregulation, leading to the appointment of technocrats aligned with this vision. The leadership believed that promoting the private sector would be more effective in job creation. Despite facing significant political opposition, efforts towards disinvestment were made, eventually resulting in compromises like public-private partnerships. The decentralization of administration and restructuring of ministries aimed at promoting industrialization and economic globalization driven by the private sector at the regional level. Initiatives such as the Industrial Promotion and Development Company, with support from organizations like the International Finance Corporation, aimed to boost the private sector. Efforts towards globalization were synchronized with the establishment of an export processing zone in Chittagong, focusing on promoting private and foreign investment. Foreign investment promotion was encouraged through diplomatic efforts and legislative measures to safeguard investors. Currency devaluation was utilized to stimulate exports, along with some degree of import liberalization. The chapter convincingly argues that the groundwork for globalization, initiated under General Zia, came to fruition under General Ershad. The final empirical chapter contends that the system shifted towards globalization and deregulation in 1991. Although a severe balance of payments crisis occurred in 1989, it wasn't perceived as the sole cause of the industrial policy of 1991. The democratic uprising in 1990 led to the downfall of the military-backed government and the rise of a democratic government. The chapter argues that while economic and political changes may have been intertwined, the economic shift in 1991 was primarily driven by ideas within the state and driven by endogenous imperatives. It examines preceding periods to illustrate how the tipping mechanism might have operated, detailing the roles of top technocrats and political executives. The chapter provides insights into key policymakers and their ideas, as well as their interactions with industrialists, entrepreneurs, and representatives of multilateral organizations like the World Bank. Significant reform measures, including tariff reduction, the introduction of value-added tax, banking sector reform, and the adoption of floating exchange rates, are outcomes of the policy change. Additionally, sectors such as power, banks, and telecommunications, formerly monopolized by the public sector, are now deregulated. (shrink)

Applying Modern Monetary Theory to the Philippines: Achieving Economic Balance Through Natural Laws -/- Introduction -/- The Philippines faces persistent economic challenges, including slow GDP growth, high income inequality, inflationary pressures, and overpopulation. Traditional economic policies often focus on austerity, borrowing limits, and foreign investments, but these approaches fail to address the root causes of economic imbalance. -/- Modern Monetary Theory (MMT) offers an alternative by allowing the government to issue money to finance public spending without relying on foreign (...) debt or excessive taxation. However, to prevent inflation and ensure long-term stability, government spending must be directed toward productive investments. This aligns with my universal formula, which is based on the universal law of balance in nature—ensuring that all systems, including economic ones, function without defects. -/- By integrating MMT with GDP growth, GDP per capita, the Gini coefficient (income equality), population regulation, and good governance, the Philippines can achieve sustainable economic progress while maintaining balance. -/- The Role of a Good and Non-Corrupt Government in Implementing MMT -/- MMT gives governments the power to create money, making it an incredibly powerful tool—but also a dangerous one if misused. A corrupt government can misallocate funds, cause hyperinflation, and worsen inequality. Therefore, strong leadership, transparency, and accountability are essential for MMT to work. -/- Eliminating corruption ensures that newly created money is invested in productive sectors rather than being stolen or wasted. -/- Strict financial oversight and independent institutions must monitor government spending. -/- A well-structured economic plan, free from political interests, must be followed to ensure MMT benefits all Filipinos, not just the elite. -/- If MMT is implemented by a corrupt government, it will only lead to inflation, economic collapse, and further inequality. The law of karma teaches that every action has consequences—if government spending is abused, the entire economy will suffer. -/- Using MMT to Increase the Philippines’ GDP Without Inflation -/- 1. Infrastructure Development -/- The Philippines suffers from poor infrastructure, leading to high transportation and electricity costs. Government investment in roads, ports, and energy projects would improve economic efficiency, reducing production costs and increasing business competitiveness. -/- The government can print money under MMT to fund major infrastructure projects, provided the projects enhance productivity. -/- Improved infrastructure will increase GDP by facilitating trade, reducing delays, and boosting industrial growth. -/- With proper planning, this investment will not cause inflation because it adds real value to the economy. -/- However, for infrastructure spending to be effective, the government must eliminate corruption in project implementation. Ghost projects, overpricing, and political kickbacks will waste public money and increase inflation without creating real economic value. -/- 2. Investing in Renewable Energy -/- The Philippines relies heavily on imported fossil fuels, making it vulnerable to price fluctuations. A shift toward solar, wind, and geothermal energy would: -/- Reduce long-term electricity costs, helping businesses expand without raising prices. -/- Make the country energy independent, lowering the need for foreign currency reserves. -/- Increase GDP by creating green energy jobs and technological innovations. -/- A good government will prioritize long-term energy security over short-term political interests. Corrupt officials, however, may block renewable energy projects in favor of profit-driven deals with fossil fuel industries, preventing the country from achieving energy independence. -/- 3. Expanding Manufacturing and Industrialization -/- The Philippine economy is heavily dependent on services (such as BPOs) and overseas remittances. To create long-term stability, the country must expand its manufacturing sector. -/- Government spending should prioritize local industries, such as electronics, semiconductors, and agribusiness processing. -/- Subsidies and incentives should be given to businesses that create jobs and produce high-value goods. -/- Export-oriented manufacturing would increase GDP while keeping money circulation within productive sectors, preventing inflation. -/- A corrupt government, however, may award subsidies and contracts based on political favors rather than economic merit, leading to inefficiency and wasted resources. A good and competent government will ensure that industrial policies are based on merit, efficiency, and long-term economic benefits. -/- 4. Research, Innovation, and Digital Transformation -/- Government investment in science, technology, and artificial intelligence (AI) would drive sustainable economic growth. -/- A national AI and automation strategy can improve industries such as agriculture, logistics, and healthcare, leading to higher GDP. -/- Government-funded research and technology parks can support Filipino startups and entrepreneurs. -/- This will help the country move from a consumer-driven economy to a technology and knowledge-based economy, increasing long-term wealth. -/- Without strong governance and anti-corruption measures, however, research funding may be misused, misallocated, or given to unqualified individuals. The universal law of balance requires that public resources be managed efficiently and fairly to maximize their benefits. -/- GDP Per Capita: Ensuring Growth Benefits Every Filipino -/- While GDP growth is important, it must translate to real improvements in people’s lives. A high GDP with a rapidly growing population leads to a lower GDP per capita, keeping the majority poor. -/- Government policies must regulate population growth through education and family planning. -/- Higher GDP per capita ensures that public investments in healthcare, education, and housing can meet the needs of citizens. -/- A well-balanced population ensures that economic growth does not lead to overconsumption of resources. -/- The Gini Coefficient: Reducing Income Inequality in the Philippines -/- The Philippines has one of the highest income inequality rates in Southeast Asia. The Gini coefficient reveals that wealth is concentrated in the hands of a few, while many struggle to survive. -/- MMT can be used to: -/- Fund free quality education and vocational training, allowing Filipinos to get better-paying jobs. -/- Provide universal healthcare, ensuring that people are not trapped in poverty due to medical expenses. -/- Invest in affordable housing and social safety nets for vulnerable populations. -/- Without addressing inequality, economic growth will only benefit the elite, leading to social unrest and instability. However, corrupt leaders often resist wealth redistribution because they benefit from maintaining economic inequality. A non-corrupt government is necessary to ensure fair wealth distribution. -/- Ensuring MMT Aligns with the Universal Law of Balance -/- The Philippines must apply MMT carefully to prevent economic imbalance. Simply printing money without strategic allocation will lead to inflation and instability. -/- Strict anti-corruption policies must be enforced to ensure MMT is used only for productive investments. -/- Public funds should be managed transparently, with regular audits and independent oversight. -/- Government leaders must be held accountable for economic decisions, ensuring they act in the best interest of all Filipinos. -/- A corrupt and incompetent government will lead to economic collapse under MMT, while a good, disciplined, and visionary government can use it to create lasting prosperity and stability. -/- Conclusion -/- Modern Monetary Theory, when properly applied, aligns with the universal law of balance in nature by ensuring that economic systems function without defects. The Philippines can use MMT to: -/- Increase GDP by investing in infrastructure, renewable energy, and industrialization. -/- Ensure GDP per capita growth by regulating population and creating sustainable jobs. -/- Reduce income inequality through education, healthcare, and wealth redistribution. -/- Maintain economic balance by applying feedback mechanisms such as taxation, productivity growth, and responsible government spending. -/- However, MMT requires a government that is competent, transparent, and corruption-free. Without ethical leadership, MMT will be abused and lead to inflation, economic collapse, and inequality. The law of balance demands that all systems—including governance—function properly to achieve economic stability. -/- By ensuring good governance, economic discipline, and strategic spending, the Philippines can use MMT to build a just, prosperous, and balanced society. -/- . (shrink)

A Balanced Economic Model: The Feedback Loop Between Public and Private Sectors with MMT as a Stabilizing Mechanism -/- Introduction -/- Modern capitalism thrives on competition, profit motives, and consumer demand. However, the system is flawed because it allows extreme wealth inequality, market instability, and frequent economic crashes. Advertising, as an essential part of capitalism, manipulates consumer behavior to sustain profits. While this fuels economic growth, it also distorts the real needs of society. -/- A better alternative Is a (...) hybrid economic model where government-created jobs, social safety nets, and free public services coexist with a profit-driven private sector. The key to making this work is a feedback loop mechanism that keeps the two sectors balanced, ensuring economic stability while preventing extreme inequality and unnecessary market collapses. This essay explores how Modern Monetary Theory (MMT) can support this feedback loop economy to create a self-regulating system where both public and private sectors benefit from each other. -/- I. The Feedback Loop Between Private Companies and Government Economic Policies -/- A feedback loop mechanism is a self-regulating system where different components interact, adjust, and respond to maintain balance. In the economy, the public sector (government jobs, social safety nets, and public services) and the private sector (businesses, investments, and free markets) create a mutual dependency: -/- 1. Government Spending Creates Consumer Demand → Private Sector Growth -/- Government creates jobs with good salaries in infrastructure, education, healthcare, and technology. -/- This injects money into the economy, giving people the purchasing power to buy goods and services from private companies. -/- As demand increases, businesses grow, hire more workers, and expand operations. -/- 2. Private Sector Growth → Increases Government Revenue Without High Taxation -/- As private companies generate profits, they pay taxes and reinvest in expansion. -/- Strong consumer demand reduces the need for excessive taxation because economic growth itself funds public programs. -/- Businesses compete not only for profits but also for innovation and efficiency. -/- 3. Social Safety Nets Prevent Market Collapses -/- During recessions, government stabilizes the economy by expanding social programs (unemployment benefits, food assistance, healthcare). -/- This prevents demand from crashing, ensuring that businesses still have customers even in economic downturns. -/- As the economy recovers, government reduces spending, allowing the private sector to take the lead again. -/- This dynamic cycle ensures that economic booms and recessions are smoothed out, preventing extreme market crashes or mass unemployment. -/- II. The Role of MMT in Supporting the Feedback Loop -/- Modern Monetary Theory (MMT) provides the economic foundation for this model by proving that a sovereign government can spend money without being constrained by traditional budget rules. Unlike mainstream economic thinking, which suggests that governments must “balance the budget,” MMT argues that government spending should adjust based on economic conditions. -/- 1. Government-Backed Job Programs as an Economic Stabilizer -/- MMT allows governments to fund public jobs without relying solely on taxation. -/- If private companies cut jobs, the government can expand its workforce to absorb the unemployed. -/- When the economy stabilizes, people move back to higher-paying private jobs, reducing government spending. -/- 2. Preventing Inflation Through Resource Control -/- MMT acknowledges that inflation happens when there’s too much money chasing too few goods. -/- The government can remove excess money through targeted taxation and invest in productivity (e.g., infrastructure, education) to keep supply stable. -/- This prevents excessive inflation while keeping the economy growing. -/- 3. Continuous Money Circulation Without Debt Crises -/- Governments can print money to fund essential services, but they control inflation by investing in real production capacity (e.g., factories, renewable energy, technology). -/- This means public investment directly benefits private businesses, keeping both sectors in sync. -/- This MMT-backed feedback loop ensures that economic downturns do not lead to catastrophic business failures or mass unemployment. -/- III. The Role of Advertising in a Balanced Economic System -/- Advertising, while necessary for businesses, often manipulates consumer behavior in a way that creates artificial demand. In a feedback loop economy, advertising should be regulated to align with real consumer needs rather than exploiting psychological weaknesses. -/- 1. Ethical Advertising Policies -/- Companies should be incentivized to market based on quality and innovation rather than manipulation. -/- False advertising and monopolistic dominance should be regulated to prevent consumer exploitation. -/- 2. Consumer Education Programs -/- Public education should include critical thinking courses to help people make informed purchasing decisions. -/- This reduces the influence of manipulative advertising, ensuring that businesses compete fairly. -/- This ensures that the feedback loop remains healthy, preventing unnecessary overproduction and unsustainable consumer debt. -/- IV. Real-World Examples of a Balanced System -/- Some countries have successfully implemented elements of this feedback loop economic model: -/- Nordic Countries (Sweden, Norway, Denmark, Finland) -/- Have free healthcare, education, and social safety nets while maintaining a competitive private sector. -/- Use progressive taxation to prevent extreme inequality, ensuring that economic growth benefits everyone. -/- Germany -/- Uses government-backed vocational training programs to ensure a highly skilled workforce. -/- Strong public-private partnerships help both sectors support each other dynamically. -/- Japan -/- Government plays a major role in funding research, infrastructure, and innovation, allowing private businesses to thrive. -/- Uses state-owned enterprises strategically while ensuring a competitive private market. -/- These examples prove that a properly managed hybrid model is more resilient, fair, and stable than extreme capitalism or extreme socialism. -/- V. Conclusion: A Self-Regulating Economy for the Future -/- A feedback loop economic system provides the best of both worlds: ✔ Government ensures economic stability through public job creation and social safety nets. ✔ Private companies drive innovation and competitiveness with strong consumer demand. ✔ MMT allows government spending to adjust dynamically without unnecessary austerity measures. ✔ Advertising is reformed to encourage ethical business practices and informed consumer choices. ✔ Inflation is controlled through taxation, investment, and resource management. -/- By integrating these feedback loop mechanisms, we can create a self-regulating economic model where both public and private sectors reinforce each other, ensuring long-term stability, prosperity, and economic fairness. -/- Policy Framework for a Balanced Economic System: Global Best Practices -/- To fully integrate the feedback loop mechanism between the public and private sectors, specific policies must be implemented to ensure economic stability, innovation, and fairness. Below are real-world policy examples that demonstrate how different countries successfully manage their economies using a mix of government intervention and free market principles. -/- I. Public Job Creation as an Economic Stabilizer -/- One of the biggest issues in capitalism is economic recessions leading to mass layoffs, which then reduce consumer spending, creating a vicious cycle of economic decline. The solution is public sector job programs that absorb unemployed workers during downturns and allow them to transition back to private jobs when the economy improves. -/- Global Examples -/- ✔ United States (New Deal Programs – 1930s) -/- During the Great Depression, the U.S. government created millions of jobs in construction, public works, and conservation projects. -/- These projects boosted infrastructure while providing employment, helping to revive the economy. -/- ✔ Argentina’s Jefes de Hogar Program (2002-2006) -/- Aimed at mitigating mass unemployment during Argentina’s economic crisis. -/- The government hired unemployed citizens to work in community service, infrastructure, and public health projects. -/- Created social stability and demand for private goods, helping Argentina recover. -/- ✔ Germany’s Kurzarbeit Program (Ongoing) -/- In times of economic slowdown, the German government pays companies to keep workers employed at reduced hours rather than laying them off. -/- This prevents mass unemployment, ensuring that workers still have income and spending power. -/- Policy Recommendation: → Implement automatic public employment programs during recessions to keep demand stable and prevent economic crashes. -/- II. Social Safety Nets to Support Consumer Demand -/- A strong social safety net ensures that consumers have purchasing power even in economic downturns, keeping the private sector stable. -/- Global Examples -/- ✔ Nordic Model (Denmark, Sweden, Norway, Finland) -/- Provides free healthcare, education, and unemployment benefits, preventing extreme poverty. -/- Funded through progressive taxation, ensuring that the wealthy contribute fairly to society. -/- This creates a stable consumer base for private companies, benefiting the entire economy. -/- ✔ Universal Basic Income (UBI) Experiments (Finland, Canada, Kenya) -/- Finland tested a UBI program where unemployed citizens received a monthly payment regardless of employment status. -/- Results showed that recipients were more likely to start businesses and find better jobs, proving that social safety nets do not reduce work incentives. -/- ✔ Singapore’s Housing and Retirement System -/- The government helps citizens buy homes with public funds, ensuring stable housing. -/- A mandatory retirement savings system (Central Provident Fund) ensures that people have money after they retire. -/- These policies reduce financial anxiety, allowing people to focus on entrepreneurship and economic growth. -/- Policy Recommendation: → Implement universal healthcare, free education, and unemployment benefits to ensure that economic downturns do not collapse consumer spending. -/- III. Regulating Advertising to Align with Consumer Needs -/- Unregulated advertising manipulates consumer behavior, creating unnecessary demand and overconsumption, which destabilizes economies. Governments can regulate advertising to ensure ethical business practices. -/- Global Examples -/- ✔ European Union (Strict Advertising Laws) -/- The EU bans false advertising, ensuring that companies cannot make misleading claims about their products. -/- Certain junk food and alcohol ads are restricted to protect public health. -/- ✔ France’s Ban on Child-Targeted Advertising -/- Prevents unethical marketing towards children, reducing unnecessary consumerism. -/- ✔ Japan’s Culture of Product Quality Over Hype -/- Japanese companies emphasize product reliability and long-term value, reducing dependence on manipulative advertising. -/- Policy Recommendation: → Implement ethical advertising regulations to prevent false marketing, predatory ads targeting vulnerable consumers, and excessive consumer debt. -/- IV. Public-Private Partnerships for Innovation and Infrastructure -/- Rather than treating the government and private sector as separate entities, a well-balanced system interconnects them through public-private partnerships (PPPs) to drive innovation. -/- Global Examples -/- ✔ Germany’s Mittelstand Model (SME Support System) -/- The German government provides long-term financial support to small and medium-sized enterprises (SMEs), which are the backbone of the economy. -/- Ensures that private businesses have stable growth without excessive corporate monopolies. -/- ✔ China’s State-Led Economic Model (Strategic Government Investments) -/- The government invests heavily in infrastructure and technology, allowing private businesses to thrive with low-cost logistics and energy. -/- Balances capitalist competition with government support, ensuring stability. -/- ✔ United States (NASA & SpaceX Collaboration) -/- NASA funded SpaceX and other private space companies, leading to rapid innovation in space technology. -/- This proves that government funding can accelerate private sector breakthroughs. -/- Policy Recommendation: → Use government funding to support innovation and long-term infrastructure projects while allowing private businesses to benefit and expand. -/- V. MMT as a Tool for Economic Stability -/- Traditional economic models suggest that governments must “balance their budgets” like households, but this is a flawed concept. Modern Monetary Theory (MMT) argues that sovereign nations with their own currency (like the U.S., Japan, and the UK) can create money to fund essential services without relying on debt from private banks. -/- How MMT Works in Practice -/- ✔ Japan’s National Debt Strategy -/- Japan has one of the highest debt-to-GDP ratios in the world, yet it has no financial crisis because it borrows in its own currency. -/- Instead of austerity, Japan uses public investment to maintain economic stability. -/- ✔ U.S. Stimulus During COVID-19 -/- The U.S. government printed money to send direct payments to citizens, preventing a total economic collapse. -/- Inflation was controlled by adjusting taxation and investment in production capacity. -/- ✔ EU’s Post-COVID Recovery Fund -/- The European Union used public money to stabilize industries and workers, preventing extreme recessions. -/- Policy Recommendation: → Use MMT-based strategies to fund infrastructure, social programs, and innovation, ensuring economic stability without excessive reliance on private banking debt. -/- VI. Conclusion: Creating a Self-Regulating Economy -/- A feedback loop economy that integrates public job creation, private sector competition, social safety nets, and MMT-backed fiscal policies provides a self-regulating system that ensures: -/- ✔ Stable employment and consumer demand even during economic downturns. ✔ Innovation and competition in the private sector without excessive monopolies or market crashes. ✔ Government-funded infrastructure and social programs that benefit both workers and businesses. ✔ Ethical advertising that prevents consumer exploitation and unnecessary debt. ✔ Balanced inflation control through strategic taxation and investment. -/- By combining the best policies from different global models, we can build an economic system that minimizes business bankruptcies, prevents recessions, and maximizes innovation and economic fairness. -/- . (shrink)

The Profit Motive: A Reality or an Illusion of Capitalism? -/- Introduction -/- The profit motive has long been considered a fundamental driver of economic activity, particularly in capitalist societies. It is the principle that businesses, individuals, and economies are primarily motivated by financial gain. However, when examined through the lens of capitalism and fiat currency, an important question arises: Is the profit motive a genuine economic force, or is it an illusion created by the artificial value of money? This (...) essay explores the nature of the profit motive, its connection to capitalism, and the potential illusory aspects of wealth accumulation within a fiat currency system. -/- The Role of the Profit Motive in Capitalism -/- Capitalism institutionalizes the profit motive by making financial success the key measure of progress. In a capitalist system, individuals and businesses seek to maximize their earnings through innovation, efficiency, and strategic decision-making. The promise of financial gain incentivizes entrepreneurs to take risks, develop new products, and improve services. -/- Supporters of capitalism argue that the profit motive leads to economic growth, job creation, and technological advancements. Competition in the marketplace forces companies to innovate and provide better goods and services at lower costs. Additionally, businesses that generate profits attract investments, which allows them to expand and create more economic opportunities. Thus, the profit motive serves as a crucial mechanism in capitalist economies. -/- However, the pursuit of profit can also lead to negative consequences, such as wealth inequality and environmental degradation. Those who control financial and industrial resources often accumulate disproportionate amounts of wealth, while lower-income individuals may struggle to compete. This raises ethical questions about whether the profit motive truly benefits society or if it primarily serves the interests of the elite. -/- Fiat Currency and the Illusion of Wealth -/- The concept of fiat currency further complicates the understanding of the profit motive. Unlike commodity-backed money (such as gold or silver), fiat currency derives its value from government regulation and public trust rather than intrinsic worth. Since money in modern economies is created through banking systems and debt, its value is largely based on collective belief rather than tangible assets. -/- This raises concerns about whether financial profits are an illusion rather than a reflection of real wealth. If money itself has no intrinsic value, then the pursuit of profit—measured in fiat currency—could be seen as chasing a fabricated metric rather than achieving real economic progress. Inflation, economic crises, and financial bubbles reveal the vulnerabilities of a system that relies on fiat currency, making profits unstable and sometimes illusory. -/- Furthermore, the constant need for economic growth in a fiat-based system pressures businesses and individuals to continuously accumulate more wealth, regardless of actual resource availability. This dynamic fosters consumerism, financial speculation, and debt-driven economies, which can lead to economic instability and artificial booms and busts. -/- Is the Profit Motive an Illusion? -/- The debate over whether the profit motive is an illusion depends on perspective. From a practical standpoint, profit is necessary for businesses to survive and grow. It determines purchasing power, access to resources, and overall economic influence. In this sense, profit is not an illusion but a real force shaping human behavior and societal structures. -/- However, from a philosophical and systemic perspective, the profit motive can be seen as a social construct rather than an absolute reality. The value of money is dictated by economic policies and collective agreements, meaning that financial wealth is only meaningful as long as society recognizes it. If fiat currency were to collapse, the illusionary nature of profit would become evident, as material goods and essential resources would become the true determinants of wealth. -/- Alternative Perspectives on Success -/- While capitalism promotes profit as the primary measure of success, alternative economic models suggest different ways of defining progress. Some propose prioritizing sustainability, resource-based economies, or social well-being rather than monetary accumulation. Economic models like cooperative businesses, universal basic income, and post-scarcity societies challenge the traditional view that profit is the ultimate goal. -/- In such systems, success is defined not by financial gain but by factors such as quality of life, environmental balance, and social equity. This perspective aligns with the idea that the profit motive may not be the only—or even the best—way to drive human progress. -/- Conclusion -/- The profit motive is both a reality and a construct shaped by the economic system in which it operates. In capitalism, it serves as a driving force for innovation, competition, and economic growth. However, its dependence on fiat currency introduces elements of illusion, as financial wealth is largely based on societal belief rather than intrinsic value. While profit remains a central force in modern economies, reconsidering its role in defining success may open pathways to more sustainable and equitable economic models. Ultimately, the question is not just whether profit is an illusion, but whether society should continue prioritizing it as the primary measure of success. -/- . (shrink)

Istvan Hont’s classic work on the theoretical links between the seventeenth-century natural jurists Hugo Grotius and Samuel Pufendorf and the eighteenth-century Scottish political economists remains a popular trope among intellectual and economic historians of various stamps. Despite this, a common criticism levelled at Hont remains his relative lack of engagement with the relationship between religion and economics in the early modern period. This paper challenges this aspect of Hont’s narrative by drawing attention to an alternative, albeit complementary, assessment of (...) the natural jurisprudential heritage of eighteenth-century British political economy. Specifically, the article attempts to map on to Hont’s thesis the Christian Stoic interpretation of Grotius and Pufendorf which has gained greater currency in recent years. In doing so, the paper argues that Grotius and Pufendorf’s contributions to the ‘unsocial sociability’ debate do not necessarily lead directly to the Scottish school of political economists, as is commonly assumed. Instead, it contends that a reconsideration of Grotius and Pufendorf as neo-Stoic theorists, particularly via scrutiny of their respective adaptations of the traditional Stoic theory of oikeiosis, steers us towards the heart of the early English ‘clerical’ Enlightenment. (shrink)

"Transparency" is the constant refrain of democratic politics, a promised aid to accountability and integrity in public life. Secrecy is stigmatized as a work of corruption, tolerable by a compromise of democratic principles. My dissertation challenges both ideas. It argues that secrecy and transparency are best understood as complementary, not contradictory, practices. And it develops a normative account of liberal democratic politics in which duties of transparency coexist with permissions to act behind closed doors. The project begins with some history. (...) I show that the language of transparency gained currency only in the last quarter century, and explain how its proximate sources promote three dubious assumptions—that disclosure should in principle be maximized, that it prevents misrule more or less automatically, and that its value is either instrumental, or rooted in a reductive notion of democracy as the rule of popular opinion. Against these assumptions, I sketch an alternative account of liberal democracy centered on the logics of representation, liberty, and equality. These three "logics of self-government" give rise to duties of transparency binding on public and private actors alike. Such obligations have bite, I argue, but they are not all-encompassing. Indeed, the same ideals of representation, liberty, and equality license concealment in a range of important contexts, including deliberation and dissent. Having made this case, I go on to explain how secrecy and transparency can form a "democratic dyad," deepening rather than undermining the project of self-rule. Lastly, I address the limits of conventional transparency practices. Taken alone, disclosure is subject to a range of pitfalls, often failing to produce the results promised in transparency’s name. While my non-instrumental case for openness is not destabilized by this analysis, it does suggest that mandating disclosure is rarely enough. I therefore propose a series of adversarial practices to facilitate the checking of unjustifiable secrecy, and highlight the critical role of interpretation in efforts to make power intelligible. In the end, my dissertation offers a novel defense of secrecy and transparency that highlights rather than minimizes the hard work of political engagement. (shrink)

I present three versions –Grimm, Offe and Streeck—of a general argument that is often used to establish that the EU-institutions meets a legitimacy-disabling condition, the so called “no demos” argument (II), embedding them in the context of the notorious “democratic deficit” suspicions against the legal system and practice of the EU (I). After examining the logical structure behind the no-demos intuition considered as an argument (III), I present principled reasons by Möllers and Habermas that show why the “no demos” argument (...) fails to have bite in discussions of the legitimacy and status of the supranational level in the multi-level EU-architecture. These are complemented by another principled reason arising from John Dewey’s conception of the “public” as a clearer alternative for the “popular” requirement of democratic legitimation (IV). I conclude that all three conceptions together suggest that the hunt after pre-politically existing peoples as foundations of democratic legitimacy expresses no more than methodological nationalism without any footing in the material and conceptual requirements of democratic legitimation. Given the absence of a principled problem with the legitimacy of the priority and interference of supranational EU-law in the national legal and political orders, there are thus also no principled reasons to abandon or discredit the European project in the absence of a European nation or society. (shrink)

The idea of a common currency underlying our choice behaviour has played an important role in sciences of behaviour, from neurobiology to psychology and economics. However, while it has been mainly investigated in terms of values, with a common scale on which goods would be evaluated and compared, the question of a common scale for subjective probabilities and confidence in particular has received only little empirical investigation so far. The present study extends previous work addressing this question, by showing that (...) confidence can be compared across visual and auditory decisions, with the same precision as for the comparison of two trials within the same task. We discuss the possibility that confidence could serve as a common currency when describing our choices to ourselves and to others. others. (shrink)

I consider a number of questions for foundational epistemology that arise from further reflection on salience of alternatives and epistemic position. On this basis, I turn to more applied issues. First, I will consider work in social psychology to motivate the working-hypothesis that social stereotypes will make some alternatives more, and some less, salient. A related working-hypothesis is that social stereotypes may lead to both overestimation and underestimation of a subject’s epistemic position. If these working-hypotheses are true, the outcome may (...) be a distinctive route to epistemic injustice. (shrink)

I construe Relevant Alternatives Theory (RAT) as an abstract combination of anti-skepticism and epistemic modesty, then re-evaluate the challenge posed to it by the missed clue counterexamples of Schaffer. The import of this challenge has been underestimated, as Schaffer’s specific argument invites distracting objections. I offer a novel formalization of RAT, accommodating a suitably wide class of concrete theories of knowledge. Then, I introduce ‘abstract missed clue cases’ and prove that every RA theory, as formalized, admits such a case. This (...) yields an argument—in Schaffer’s spirit—that resists easy dismissal. (shrink)

This article proposes a term structure model for dual-currency interest rate markets. The model assumes that volatility is a deterministic function of time alone. This volatility structure can reduce the dimension of the required state variables. An important special case is presented, which corresponds essentially to a Vasicek/Hull-White yield curve model in each currency. The model is very useful for pricing cross-currency derivatives.

This paper argues that NPs with case as head noun stand for situations in their role as truthmakers within a sentential or epistemic case space. The paper develops a unified semantic analysis of case-constructions of the various sorts within a truthmaker-based version of alternative semantics.

Introducing alternative modes of assessment is but one response to the recent call for democratic and ethical language assessment. Yet, despite the recent emphasis in the discourse community and the rise in publication on alternative assessment, these new forms of assessment still need to be explored further. This study is a two-fold attempt: first, to investigate teachers’ attitudes and beliefs about different aspects of traditional testing and alternative assessment, and second to delve into their ethical orientation and (...) to examine views on language testing apropos of their general ethical viewpoints. A questionnaire was developed and used to collect Iranian EFL teachers’ views on language testing and ethics in general (N = 153). The results indicated that despite its agreed-upon disadvantages, an obstinate stigmatization and refusal of traditional testing may still seem a practice at odds with the common sense. In fact, until a better proposal can be offered, alternative assessment and traditional testing can best be regarded as supplements rather than substitutes. (shrink)

A recurring claim in a number of behavioural, cognitive and neuro-scientific literatures is that there is, or must be, a unidimensional ‘common currency’ in which the values of different available options are represented. There is striking variety in the quantities or properties that have been proposed as determinants of the ordering in motivational strength. Among those seriously suggested are pain and pleasure, biological fitness, reward and reinforcement, and utility among economists, who have regimented the notion of utility in a variety (...) of ways, some of them incompatible. This topic deserves philosophical attention for at least the following reasons. Repeated invocation of the ‘common currency’ idiom isn’t merely terminological coincidence because most of the claims are competing explanations either of manifest pattern in choices, or of order in the processes producing choice. We can’t suppose that the different currency claims within each area are compatible, because there are significant obstacles to identifying pairs of members of either the ‘pattern’ or ‘process’ group. There are, finally, seriously opposed positions about the relationships between the pattern facts and the process facts. There are philosophical positions both favouring and opposing a common currency. But direct consideration of the abstract relationships between claims about common currencies across scientific settings, and the arguments for and against these claims, is relatively rare. There is, though, much of philosophical interest to be found here. (shrink)

The production of sound by the machinery of change is a viral element in the problems of civilization. Conceptual historical paradox involving mind and matter as the recurring source of the problems of civilization is elaborated to expose a space reducing friction residing at the border of conceptual and empirical interpretation involving cause and effect rather than physical form. A visually based mathematical-physical form, is elaborated and discussion, based on a philosophy of motion, volume and processes that is indivisible, unmoved (...) by the willed power of the discourse, is evolved in an analogy to interpreted ancient mathematics of Euclid. (shrink)

An impressive variety of new forms of money has aroused in recent decades from various groups of people and various kinds of institutions. These currencies are at the heart of intense debates, which raise important, but often neglected, normative issues. The diversity of their goals, uses and charac-teristics is so large that it makes some preliminary distinctions necessary. This paper aims at provid-ing a proper background for the discussion of the possible merits and drawbacks of different kinds of (...) class='Hi'>currencies. It proposes a classification that demarcates currencies according to how they relate to several crucial normative issues. Its aim is to show, for every type of currency, and as unambiguously as possible, to which side of these controversies it lies. (shrink)

Kyle Stanford claims we have historical evidence that there likely are plausible unconceived alternatives in fundamental domains of science, and thus evidence that our best theories in these domains are probably false. Accordingly, we should adopt a form of instrumentalism. Elsewhere, I have argued that in fact we do not have historical evidence for the existence of plausible unconceived alternatives in particular domains of science, and that the main challenge to scientific realism is rather to provide evidence that there are (...) likely not plausible unconceived alternatives. In the present paper, I contend that we may come to have such evidence in the long run of science. I then investigate the epistemic consequences of the claim that we presently do not have evidence for or against the existence of plausible unconceived alternatives, but that in the future we may come to have evidence against the existence of plausible unconceived alternatives. I argue there are prima facie reasons to endorse a form of voluntarism in this situation according to which scientists and others may rationally be more optimistic or more pessimistic about the truth of our best theories, on the grounds that the widespread acceptance of an obligation to be an instrumentalist threatens to disrupt the proper functioning of science, in part because the domain of application of the problem of unconceived alternatives is unclear. (shrink)

This essay challenges the widely accepted principle that a person is morally responsible for what he has done only if he could have done otherwise. The author considers situations in which there are sufficient conditions for a certain choice or action to be performed by someone, So that it is impossible for the person to choose or to do otherwise, But in which these conditions do not in any way bring it about that the person chooses or acts as he (...) does. In such situations the person may well be morally responsible for what he chooses or does despite his inability to choose or to do otherwise. Finally the author considers certain suggestions for revising the principle he rejects or for replacing it with a principle of an altogether different kind. (shrink)

What is the value of a lightning bolt? A strange question, perhaps. But as it arcs across the sky, that bolt is doing something remarkable: it's fixing nitrogen from the air, making it available to plants in a process that took nature billions of years to evolve. If we tried to replicate this service industrially, it would cost millions. Yet, in our economic systems, that lightning bolt is worth exactly zero dollars and zero cents. This paradox sits at the heart (...) of our troubled relationship with nature. For centuries, we have tried to squeeze the infinite complexity of the natural world into the finite box of market prices. But as climate change accelerates and biodiversity collapses, it is becoming clear that our economic models are not just incomplete – they are actively dangerous. A new paradigm is emerging in the interdisciplinary of biology, physics, information science, and quantum theory, offering fresh perspectives on how we might better understand and measure value. (shrink)

This paper contributes to the growing literature in social epistemology of diagnosing the epistemically problematic features of fake news. I identify two novel problems: the problem of relevant alternatives; and the problem of the degradation of the epistemic environment. The former arises among individual epistemic transactions. By making salient, and thereby relevant, alternatives to knowledge claims, fake news stories threaten knowledge. The problem of the degradation of the epistemic environment arises at the level of entire epistemic communities. I introduce the (...) notion of an epistemic environment, roughly the totality of resources and circumstances relevant to assessing the epistemically interesting statuses, such as knowledge. Fake news degrades our epistemic environment by undermining confidence in epistemic institutions and altering epistemic habits, thereby making the environment less conducive to achieving positive epistemic statuses. This is problematic even if the decrease in confidence and the altering of habits are rational. I end by considering solutions to these problems, stressing the importance of reproaching each other for proliferating fake news. I argue that we should reproach even faultless purveyors of fake news. This is because fake news typically arises in abnormal epistemic contexts, where there is widespread ignorance of, and noncompliance with, correct epistemic norms. (shrink)

I characterize Bishop's constructive mathematics as an alternative to classical mathematics, which makes use of the actual infinity. From the history an accurate investigation of past physical theories I obtianed some ones - mainly Lazare Carnot's mechanics and Sadi Carnot's thermodynamics - which are alternative to the dominant theories - e.g. Newtopn's mechanics. The way to link together mathematics to theoretical physics is generalized and some general considerations, in particualr on the geoemtry in theoretical physics, are obtained.that.

The Schwarzschild solution (Schwarzschild, 1915/16) to Einstein’s General Theory of Relativity (GTR) is accepted in theoretical physics as the unique solution to GTR for a central-mass system. In this paper I propose an alternative solution to GTR, and argue it is both logically consistent and empirically realistic as a theory of gravity. This solution is here called K-gravity. The introduction explains the basic concept. The central sections go through the technical detail, defining the basic solution for the geometric tensor, (...) the Christoffel symbols, Ricci tensor, Ricci scalar, Einstein tensor, stress-energy tensor and density-pressure for the system. The density is integrated, and some consistency properties are demonstrated. A notable feature is the disappearance of the event horizon singularity, i.e. there are no black holes. So far this is for a single central mass. A generalization of the solution for multiple masses is then proposed. This is required to support K-gravity as a viable general interpretation of gravity. Then the question of empirical tests is discussed. It is argued that current observational data is almost but not quite sufficient to verify or falsify K-gravity. The Pioneer spacecraft trajectory data is of particular interest, as this is capable of providing a test; but the data (which originally showed anomalies that match K-gravity) is now uncertain. A new and very practical experiment is proposed to settle the matter. This would provide a novel test of GTR, and a novel test of the cause of the Pioneer anomalies. In conclusion, K-gravity has extensive ramifications for gravitational physics and for the philosophy of GTR and space-time. (shrink)

How can we understand and move beyond a persistent tendency to think, write and organize about food and agriculture as if it were possible to separate a theorist’s views on gender and race from their views on farm animals? Considerable scholarship already addresses this question. This paper suggests that philosophy can contribute to the discussion by focusing a particular kind of attention on patterns of thinking. In particular, dichotomous thinking has traditionally provided grounds for separating production from consumption, and continues (...) to present an obstacle to efforts at connecting “farm issues” to “fork issues.” Three characteristics of dichotomous thinking present particular obstacles to scholarship that would deeply integrate food studies with agriculture studies. (1) Dichotomies tend to set up not just a contrast but an antagonism between their two poles, such that to be this means to be not that. (2) Dichotomous thinking tends to erase nuance, to eliminate anything between the two dichotomous options, and to purify or “clean up” the ambiguous case or extraneous material, by shoehorning it into one option or the other; and (3) Particular groups of dichotomies operate together, such that they mutually reinforce each other to create a way of understanding the world that is more plausible because of its cohesiveness. These snarls of mutuallysupportive dichotomies that are nevertheless purist and puritanical in their impact, present a real (i.e. ideological, theoretical, conceptual) challenge to creating scholarly and activist movements that integrate the best of agrarian thinking and the best of critical food studies scholarship attentive to race, class and gender oppression. Keywords Dichotomy Production Consumption Alternative agriculture Agrarianism Local food. (shrink)

Status of the national currency of Ukraine exchange rate has been characterized as unstable in recent years. Herewith, the Government has not implemented decisive measures on its stabilization, as a rule, underestimating the importance of the Hryvnia exchange rate stability for the successful economic growth in terms of socio-economic transformations. It should also be noted that in modern conditions among scientific and methodical approaches to the State exchange rate formation mechanisms some uncertainty regarding basic and additional tools for such regulatory (...) activities allocation is still persist. The problem relevance is exacerbated by the lack of effective policy (coordination between the NBU and the Government actions) regarding the national currency stabilization as an indispensable prerequisite for an effective macroeconomic development. These circumstances determine the importance of factors influencing the national currency exchange rate and its regulation tools research, as well as new organizational and economic mechanisms for the national currency exchange rate in Ukraine stabilization identification. In the emerging market economy conditions formation of the efficient State currency exchange-rate regulation system provides an opportunity not only to stabilize its exchange rate in different socio-economic conditions, but to create the basis for improvement the country economic development as a whole. Given this, the issue of effective tools for the national currency exchange-rate regulation by the state determination is of theoretical, practical and methodological significance. This emphasizes the relevance of further scientific-methodological and practical principles in-depth development for the national currency exchange-rate regulation. (shrink)

Orthodox semantics for natural language modals give rise to two puzzles for their interactions with disjunction: Ross’s puzzle and the puzzle of free choice permission. It is widely assumed that each puzzle can be explained in terms of the licensing of ‘Diversity’ inferences: from the truth of a possibility or necessity modal with an embedded disjunction, hearers infer that each disjunct is compatible with the relevant set of worlds. I argue that Diversity inferences are too weak to explain the full (...) range of data. Instead, I argue, modals with embedded disjunctions license ‘Independence’ inferences: from the truth of a modal with an embedded disjunction, hearers infer that each disjunct is an independent alternative among the relevant set of worlds. I then develop a bilateral inquisitive semantics for modals that predicts the validity of these Independence inferences. My account vindicates common intuitions about both Ross’s puzzle and the puzzle of free choice permission, and explains the full range of data. (shrink)

A few remarkable examples of alternative cosmological theories are shown, ranging from a compilation of variations on the Standard Model (inhomogeneous universe, Cold Big Bang, varying physical constants or gravity law, zero-active mass, Milne cosmology, cyclical models), through the more distant quasi-steady-state cosmology, plasma cosmology, or universe models as a hypersphere such as the Dynamic Universe, to the most exotic cases including static models with non-cosmological redshifts of galaxies. -/- Most cosmologists do not usually work within the framework of (...) alternative cosmologies very different from the standard one because they feel that these are not at present as competitive as the standard model. It is true that they are not so developed, but that is because cosmologists do not work on them. This vicious circle is to a great extent due to a sociological phenomenon known as the "snowball effect", in which resources are distributed to the most successful theory at a given time; the effect acts as a potential in a field that attracts cosmologists, causing funds, research positions, prestige, telescope time, publication in top journals, citations, conferences, and other resources to be dedicated almost exclusively to standard cosmology. (shrink)

Conventional wisdom suggests that the power to do otherwise is necessary for being morally responsible. While much of the literature on alternative possibilities has focused on Frankfurt’s argument against this claim, I instead focus on one of Dennett’s (1984) arguments against it. This argument appeals to cases of volitional necessity rather than cases featuring counterfactual interveners. van Inwagen (1989) and Kane (1996) appeal to the notion of ‘character setting’ to argue that these cases do not show that the power (...) to do otherwise is unnecessary for moral responsibility. In this paper, I argue that their character setting response is unsuccessful. (shrink)

Alternative Learning System (ALS) has been adopted in Philippine basic education, yet there is no academic institution in the region prepares ALS teachers in teaching life skills. ALS teachers graduated from different programs of teacher education for formal education. In response, an extension project was conceptualized and implemented to enhance the teaching capacity and effectiveness of ALS teachers. Case study was conducted to evaluate the effectiveness of the project. It explored the transfer of life skills among ALS teachers. Data (...) were collected from multiple sources. Interview and written responses, and feedbacks were analyzed using thematic narrative analysis. Other data were analyzed using document and descriptive analyses. The project had achieved its objectives and rated best by participants. These indicate that the project was implemented effectively and successfully. ALS teachers have acquired life skills and transferred them to others. Thus, the project has made a difference in the lives of these teachers. (shrink)

By observing the mediating role of Pomarańczowa Alternatywa [Orange Alternative], the Polish artistic-activist formation of the 80s and 90s, this paper aims to determine the properties, values and ideals that make a piece of art a public act that can engage people from different social groups in play, and can allow them to reveal their self-determining agency in light of social change. Within the system of varying degrees of social permission, art should allow for the transition from the realm (...) of the “unofficial” to the realm of the “forbidden,” and should facilitate a transformation from the realm of thought to the realm of action. Art introduces an element of play into the sphere of collective behavior, and is a bridge over dichotomous social and political forces. (shrink)

I show that the act-type theories of Soames and Hanks entail that every sentence with alternative analyses (including every atomic sentence with a polyadic predicate) is ambiguous, many of them massively so. I assume that act types directed toward distinct objects are themselves distinct, plus some standard semantic axioms, and infer that act-type theorists are committed to saying that ‘Mary loves John’ expresses both the act type of predicating [loving John] of Mary and that of predicating [being loved by (...) Mary] of John. Since the two properties are distinct, so are the act types. Hence, the sentence expresses two propositions. I also discuss a non-standard “pluralist” act-type theory, as well as some retreat positions, which all come with considerable problems. Finally, I extrapolate to a general constraint on theories of structured propositions, and find that Jeffrey King’s theory has the same unacceptable consequence as the act-type theory. (shrink)

The theory is based on an original alternative space-time concept that leads to a new vision of the micro-cosmos and Universe. The relationship between the forces in Nature is unveiled by adopting the following framework: (1) Empty space without any physical properties and restrictions; (2) Two fundamental particles of superdense protomatter with parameters associated with Planck’s scale; (3) A Fundamental law of Supergravitation (SG) with forces inversely proportional to the cube of distance in a pure empty space. An enormous (...) abundance of these two particles, with vibrational energy beyond some critical level, can congregate into self-organized hierarchical levels of 3D formations, governed by the SG law. The process leads deterministically to creating space with quantum mechanical properties and a galaxy as an observable mattter. The fundamental SG law is behind the gravitational, electric, and magnetic fields and governs all kinds of interactions between the elementary particles in the space of the physical vacuum. Analysis of cosmological observations reveals that the galaxies possess their own cycle in which the elementary particles are formed at a hidden non-observable phase. The problem of departure of the Hubble plot from the predicted one is solved, showing that the redshift is not of Doppler origin. The conclusion is that the Universe is stationary and eternal. (shrink)

In this paper, I outline a reductio against Stanford’s “New Induction” on the History of Science, which is an inductive argument against scientific realism that is based on what Stanford (2006) calls “the Problem of Unconceived Alternatives” (PUA). From the supposition that Stanford’s New Induction on the History of Science is cogent, and the parallel New Induction on the History of Philosophy (Mizrahi 2014), it follows that scientific antirealism is not worthy of belief. I also show that denying a key (...) premise in the reductio only forces antirealists who endorse Stanford’s New Induction on the History of Science into a dilemma: either antirealism falls under the axe of Stanford’s New Induction on the History of Science or it falls under the axe of the New Induction on the History of Philosophy. (shrink)

Zygmunt Bauman was one of the leading revisionists in Poland before March 1968. Together with six other academics he was expelled from the University of Warsaw on the basis of the decision of the Minister of Higher Education taken on the 25st March 1968. It should be stressed, however, that at the beginning of his academic career Bauman had been a staunch believer of the Polish United Workers’ Party and an adherent of the Marxist-Leninist ideology. In his first revisionist paper, (...) published soon after the Polish October, he criticized the previous policy of the Party and expressed his hope that significant changes will take place in Poland. As a result of Party withdrawal from the reforms, his attitude towards both the communist rule and Marxism-Leninism had been changing. This paper analyses the evolution of his thought towards revisions. It presents the characteristic features of Bauman’s revisionism as well: an emphasis on human praxis, alternative thinking, and heterogeneity of culture. (shrink)

Alternative splicing allows for the production of many gene products from a single coding sequence. I introduce the concept of alternative splicing via some examples. I then discuss some current hypotheses about the explanatory role of alternative splicing, including the claim that splicing is a significant contributor to the difference in complexity between the human genome and proteosome. Hypotheses such as these bring into question our working concepts of the gene. I examine several gene concepts introduced to (...) cope with processes such as alternative splicing. Next I introduce some hypotheses about the evolution of mechanisms alternative splicing in higher organisms. I conclude that attention to alternative splicing reveals that we adopt an attitude that developmental theorizing must inform evolutionary theorizing and vice versa. (shrink)

The teikei movement is a Japanese version of the alternative food movement, which emerged around the late 1960s and early 1970s. Similar to now well-known Community Supported Agriculture, it is a farmer-consumer partnership that involves direct exchanges of organic foods. It also aims to build a community that coexists with the natural environment through mutually supportive relationships between farmers and consumers. This article examined the history of the teikei movement. The movement began as a reaction to negative impacts of (...) mechanized and chemically intensive agriculture promoted by the Japanese government. The movement experienced a rapid expansion in the early 1980s, and then gradually declined thereafter. The organic market expansion and certification system intersected with both cultural and gender role changes, impacting the teikei movement negatively. Consequently, the membership of teikei consumer groups has shrunk. Furthermore, the March 2011 Fukushima Daiichi nuclear power plant accident caused unprece dented damage to organic farmers in the affected regions. Despite the scientific uncertain about the safety level of radiation exposure, the organic farmers and the teikei consumer groups managed the situation and found a way to inspect radiation contamination. They did so with the support by networking with other teikei-related actors. This response to the nuclear power plant accident suggests that although the level of embeddedness presumably varies among teikei actors, ethics guided by the teikei principles are effective in forging a resilient partnership between farmers and consumers and in keeping the teikei system alive as an agent for social change. (shrink)

Clearing algorithms are at the core of modern payment systems, facilitating the settling of multilateral credit messages with (near) minimum transfers of currency. Traditional clearing procedures use batch processing based on MILP - mixed-integer linear programming algorithms. The MILP approach demands intensive computational resources; moreover, it is also vulnerable to operational risks generated by possible defaults during the inter-batch period. This paper presents TORC3 - the Token-Ring Clearing Algorithm for Currency Circulation. In contrast to the MILP approach, TORC3 is a (...) real time heuristic procedure, demanding modest computational resources, and able to completely shield the clearing operation against the participating agents’ risk of default. (shrink)

According to some, free will requires alternative possibilities. But not any old alternative possibility will do. Sometimes, being able to bring about an alternative does not bestow any control on an agent. In order to bestow control, and so be directly relevant qua alternative to grounding the agent's moral responsibility, alternatives need to be robust. Here, I investigate the nature of robust alternatives. I argue that Derk Pereboom's latest robustness criterion is too strong, and I suggest (...) a different criterion based on the idea that what agents need to be able to do is keep open the possibility of securing their blamelessness, rather than needing to directly ensure their own blamelessness at the time of decision. (shrink)

Alternative Solutions to a Failed Democratic System Due to Ignorant Voters and Black Propaganda Politics -/- Introduction -/- Democracy is often considered the best form of government because it allows people to choose their leaders and influence policies. However, democracy is only as strong as the knowledge and wisdom of its citizens. When voters are ignorant and easily manipulated by black propaganda, democracy fails to serve its true purpose. Corrupt politicians take advantage of misinformation, and elections become a contest (...) of deceit rather than competence. In such cases, it becomes necessary to explore alternative governance systems that align with the universal law of balance in nature, ensuring societal stability and progress. This essay explores five potential solutions: meritocratic democracy, hybrid governance, decentralized governance with AI oversight, temporary educational dictatorship, and whole-process democracy with reforms. -/- 1. Meritocratic Democracy: A Government of the Competent -/- One of the main weaknesses of democracy is that it allows uninformed individuals to vote, often leading to the election of incompetent or corrupt leaders. Meritocratic democracy solves this by introducing a system where voters and candidates must meet certain educational or competency requirements. -/- In this system: -/- Voters must pass a basic competency test on political, economic, and social issues before they can vote. -/- Candidates must demonstrate expertise in governance, ethics, and leadership before being allowed to run for office. -/- Decision-making is guided by knowledge and logic, rather than emotional manipulation or populism. -/- By ensuring that only informed citizens and competent leaders participate in the electoral process, a meritocratic democracy prevents the spread of ignorance and manipulation, making governance more stable and effective. -/- 2. Hybrid Governance Model: Balancing Democracy and Technocracy -/- A pure democratic system, when controlled by an uninformed majority, can lead to poor decision-making. A hybrid governance model combines democratic participation with expert-driven decision-making. -/- This system includes: -/- Direct democracy for issues that require public participation, ensuring people still have a voice. -/- Technocratic leadership for areas that require expertise, such as economic planning, environmental policies, and legal reforms. -/- AI-assisted decision-making, where policies are analyzed based on logic, data, and the universal law of balance in nature. -/- By integrating democracy with technocracy, this model ensures that governance is based on both public engagement and expert knowledge, reducing the influence of ignorance and propaganda. -/- 3. Decentralized Governance with AI Oversight -/- Corruption and manipulation thrive in centralized political systems where power is concentrated in a few individuals. A decentralized governance model distributes power across local communities while maintaining oversight through artificial general intelligence (AGI) programmed with the universal formula to ensure balance and ethical governance. -/- This system includes: -/- Local decision-making councils that handle community affairs, reducing dependence on central authorities. -/- AI oversight to prevent misinformation, corruption, and propaganda in governance. -/- Policy-making based on natural balance, ensuring that human actions align with long-term sustainability and fairness. -/- By decentralizing power and using AI to monitor governance, this system prevents political elites from manipulating the public while ensuring that all decisions follow rational and ethical principles. -/- 4. Temporary Educational Dictatorship: A Path to Enlightened Democracy -/- If a democratic system is completely destroyed by ignorance and propaganda, a temporary educational dictatorship may be necessary to restore order. This approach involves: -/- A temporary leadership regime that enforces strict educational reforms before returning power to a well-informed electorate. -/- A governance structure that prioritizes truth, logic, and natural laws in policymaking. -/- A mandatory educational system focusing on critical thinking, ethics, and scientific reasoning to eliminate ignorance from the voting population. -/- This dictatorship would not be based on oppression but on restoring the intellectual foundation necessary for democracy to function properly. Once society reaches a stable level of awareness, democratic processes can be reinstated. -/- 5. Whole-Process People’s Democracy with Reforms -/- China’s whole-process people’s democracy is a system that allows both public participation and centralized decision-making. However, for it to be truly effective, it must integrate the universal law of balance in nature and eliminate ideological biases. -/- To reform whole-process democracy: -/- Education and critical thinking must be central to governance, ensuring the population is not easily misled. -/- Leaders must be selected based on knowledge and competence, not political loyalty. -/- Policies must align with natural balance, ensuring long-term societal stability. -/- By modifying this system with scientific and ethical principles, it can serve as a stable alternative to failing democracies. -/- Conclusion -/- Democracy is valuable, but when ignorant voters and black propaganda politics take control, it leads to instability and poor governance. To correct this failure, alternative systems must be considered. Meritocratic democracy ensures only informed citizens and competent leaders participate in elections. Hybrid governance balances democratic participation with expert decision-making. Decentralized governance with AI oversight prevents corruption and misinformation. A temporary educational dictatorship restores knowledge before returning to democracy. Whole-process democracy, when modified with the universal law of balance, can also serve as a viable alternative. -/- The best solution depends on the specific problems of a country, but the core principle remains the same: governance must follow the universal law of balance in nature, ensuring stability, truth, and progress. Only through such reforms can society escape the cycle of ignorance and manipulation, creating a future where human decisions align with natural laws and rational thought. -/- . (shrink)

"...the mechanism of a blockchain system itself, based on self-auditing, could create the conditions for the human being to be irrevocably chained to a hard materialism where no possible distinction is made between the human being and their possessions...".