One of the explanations for the Great Crisis of 2007-2008 was that financial authorities should have issued stricter regulations to prevent the housing bubble. However, according to Alan Greenspan, President of the Federal Reserve System (FED) from 1987 to 2006, this is to judge with hindsight. No one can guess when a “bubble” begins, nor when it ends; they happen because of the “irrational exuberance” in investors’ behavior, which causes boom and bust cycles. Regulators are not in a better (...) situation for assessing risks, though: since market participants supposedly know their own risks better than the regulator (a kind of informational asymmetry), an intervention (except to ensure law-enforcement) would imply unjustified paternalism. However, a regulator does not have to be conceived as a paternalistic authority. We sketch an objection to Greenspan's argument, arguing that crises don’t require a defective reasoning such as the “irrational exuberance” – our usual bounded rationality might be enough to provide the kind of “self-fulfilling prophecy” observed in the rise and fall of bubble assets value. Given the possibility of grave externalities, authorities are justified in adopting measures to ensure investors behave in a prudent way, even if they supposedly know better their own risks. (shrink)

This paper identifies a tension between the commitment to forming rationally justified emotions and the happy life. To illustrate this tension I begin with a critical evaluation of the positive psychology technique known as ‘gratitude training’. I argue that gratitude training is at odds with the kind of critical monitoring that several philosophers have claimed is regulative of emotional rationality. More generally, critical monitoring undermines exuberance, an attitude that plays a central role in contemporary models of the happy life. (...) Thus, prominent notions of what it takes to maintain emotion rationality and what it takes to maintain happiness are in tension. To resolve this tension, I argue that some people have good reason to depreciate critical monitoring—even while maintaining the requirement of emotion rationality that we be sensitive to facts about how our concerns are faring. (shrink)

The irrational exuberance associated with contemporary artificial intelligence (AI) reminds me of Charles Dickens: "it was the age of foolishness, it was the epoch of belief" (cf. Nature Editorial, 2016; to get a feel for the vanity fair that is AI, see Mitchell and Krakauer, 2023; Stilgoe, 2023). It is particularly distressing—feels like yet another rerun of Seinfeld, which is all about nothing (pun intended); we have seen it in the 60s and again in the 90s. AI might have (...) had an inauspicious beginning, which may very well be the original sin, and our current predicament is the attendant divine condemnation. Being unable to stand it, however divine it may be, without further ado, I get to the genesis (instead of getting lost in the here-and-now of this or that so-called breakthrough of AI). Here's my unvarnished critique! (shrink)

Preface/Introduction: The question under discussion is metaphysical and truly elemental. It emerges in two aspects — how did we come to be conscious of our own existence, and, as a deeper corollary, do existence and awareness necessitate each other? I am bold enough to explore these questions and I invite you to come along; I make no claim to have discovered absolute answers. However, I do believe I have created here a compelling interpretation. You’ll have to judge for yourself. -/- (...) What follows is the presentation of three essays I have worked on over the past several years seeing publication for the first time. “Hollows of Experience” was written first as an invited chapter for a collection on the ontology of consciousness. However, when cuts became necessary, my chapter got the knife. Its length has prohibited it from publication in any print journal. “Myth and Mind” was written next as a journal article, but as my involvement with it grew so did its length, so it has also idled on my websty awaiting its call. “From Panexperientialism to Conscious Experience” was written most recently, but it is the only one to have been available to the public elsewhere than my own website. Under the name, “The Continuum of Experience”, it was Target Article #95 on the recently closed Karl Jaspers Forum (for discussion purposes only). -/- I have put them in a different sequence here, for reasons of logical sense. Up first, “Panexperientialism” deals with an idea difficult for many to accept, namely that conscious experience is a particular mode of symbolically reflected experience that is largely unique to our species. However, I aver that experienced sensation in itself (as found, for example, in autonomic sensory response systems) goes “all the way down” into nature, and thus the title, panexperientialism. -/- Understanding this idea is helpful to dealing with the focus on language in Part I of “Hollows”, next, since here speech and general symbolic interaction in general are found to be the catalysts for the creation of our consciously experienced world (our “lived reality”). In Part II, however, I explore how experienced sensations must be coeval with existence, and, with even greater temerity, how all this sensational existence might have arisen within some literally inconceivable background of awareness-in-itself that yet has a dynamism that occasionally breaks into existence as experiential events and entities. (The latter may sound wacky, but physicists and cosmologists are themselves attempting to come to terms with that which seethes with vast potential energy in what they refer to as the quantum vacuum.) -/- “Myth and Mind” was put third since it deals with a major lacuna in “Hollows” — that presumed prehistoric period when members of our species made the painful crossing of the symbolic threshold into the beginnings of cultural consciousness. Speech plays a central role here, too, but I look more at narrative structures from the dawn of self-awareness when ritual and myth became vital to human survival. Why would fantastic stories and bizarre rituals be necessary? I speculate that growing foresight led to the unavoidable realization of certain mortality, from which, in turn, emerged the secondary realization that we were now alive. In contrast to our yet-to-come death, we have life here and now, and by ritually identifying with a symbolically expanded mythic, i.e., sacred, reality, we may continue to live on after bodily death, just as our ancestors and loved ones must also do. Language and mythmaking are necessary to avoid mortal despair and they remain at the core of human consciousness. -/- As Ernst Cassirer (1944) has noted, language and myth are “twin creatures”, both metaphoric webs over a reality we can never wholly comprehend. We live in the symbolic and construct our works of imagination and wars of conquest to make life meaningful, to feel immortal, and to sense that we ourselves participate in a reality greater than ourselves. No doubt we do, but this does not mean our culturally constructed self-identities survive the death of our bodies, and it does not imply that our symbolic concepts can ever indicate the ultimate truth. We simply must symbolize an extended reality that was sacred to our ancestors: “Is it not our way, as illusory as it may be, to force continuance on our world and our life in the face of their inevitable ending? Are we not compelled to extend those imaginary horizons as far as we can despite the terror and the sometime joy their extension incites? Is their closure not a form of death?” (Crapanzano, p. 210) -/- Of course, this leaves me in the uncomfortable position of being forced to admit that this venture of mine must inevitably be another attempt at meaningful mythmaking. But what else could it be? This is certainly not a scientific proof though it is indeed an academically rigorous exploration. (Just try to count the citations!) I hope the reader will judge my thesis on the basis of its coherence, the sense of meaning it evokes, my intellectual responsibility, and, finally, the engagement it inspires. If you have read my expositions and found yourself immersed in the timeless questions I here call forth, I would call these writings successful (even if you violently disagree with my answers). -/- I am very grateful to Huping Hu for granting me this special issue of JCER in which to present my ideas in some detail. He has patiently dealt with my exuberant approach and allowed the many changes I kept coming up with right until the final publication date. I also wish to thank the many potential commentators who politely replied to my invitation, and, even more, I thank those who made time to write actual commentaries. -/- References -/- Cassirer, E. (1944). An Essay on Man: An Introduction to a Philosophy of Human Culture. New Haven/London: Yale UP. -/- Crapanzano, V. (2004). Imaginative Horizons: An Essay in Literary-Philosophical Anthropology. Chicago: U of Chicago Press. -/- Gregory M. Nixon University of Northern British Columbia Prince George, British Columbia, Canada Email: [email protected] Websty: http://members.shaw.ca/doknyx. (shrink)

Our culture praises—indeed revels in—the beauty of the human form. And yet, in the midst of this exuberant celebration of corporeal beauty, not even the most unreflective can be unaware of the problems that have been laid at its feet. The philosopher Kathleen Higgins notes a “pervasive impression that is widespread in our culture: that beauty, or some near kin of it, is unsavory, a temptation that might get the soul off-track” (2000, 89). In response to this suspicion, some have (...) argued that beauty is in desperate need of reform or redefinition in our time. In this essay, I attempt to analyze and evaluate this counsel. How should these claims be understood? Would we be wise to follow them? (shrink)

Cognitive science, with its exuberant neuromythologies, is a regular target for wise humanists who insist that our rich, sharp, sad, and chancy mental life will easily resist the misplaced physics-envy of over-zealous reductionists. Yet there is little true cause for their concern: in the current confusion of multidisciplinary inquiry into computation and the brain, there are few even half-developed visions of a future completed psychology which challenge straightforward metaphysical and moral faith in personal identity and rational agency. It can seem (...) as if those who fear the encroach of science on mind, warning that it will swamp cultural-historical awareness and care, are bewitched only by the memory of a ghoulish behaviourism. (shrink)

There is the tension between, on the one hand, Wittgenstein’s not giving theoretical weight to metaphor, and on the other, his exuberant use of it. On a more fundamental level, there is a straightforward contradiction between Wittgenstein’s claim of the primordial literalness of everyday language, and his stress on the multiplicity and flexibility of language-games. Wittgenstein’s problem was that he did not succeed in making his ideas on metaphor, and indeed his ideas on metaphor and images, converge with the main (...) drift of TS 227 (the so-called ‘Part I’ of the so-called ‘Philosophical Investigations’). It was this divergence, I believe, that prevented him from rounding out his later philosophy. (shrink)

Recent years have seen renewed interest in the emergence issue. The contemporary debate, in contrast with that of past times, has to do not so much with the mind–body problem as with the relationship between the physical and other domains; mostly with the biological domain. One of the main sources of this renewed interest is the study of complex and, in general, far-from-equilibrium self-preserving systems, which seem to fulfil one of the necessary conditions for an entity to be emergent; namely, (...) that its causal powers are not predictable from the causal powers of basic physical properties. However, I argue that much of the current emergentism debate has misfired by focusing on the interpretation of self-maintaining systems. In contrast, I claim that if we want to find emergent properties, we should look not at complex systems, but at selection (natural selection, in particular). I argue that selection processes make the causal world ‘exuberant’ by making non-physical functional and relational properties enter the causal web of the world. (shrink)

Quine’s desert is generally contrasted with Meinong’s jungle, as a sober ontological alternative to the exuberant luxuriance that comes with the latter. Here I focus instead on the desert as a sober metaphysical alternative to the Aristotelian garden, with its tidily organized varieties of flora and fauna neatly governed by fundamental laws that reflect the essence of things and the way they can be, or the way they must be. In the desert there are no “natural joints”; all the boundaries (...) we find are lines we have drawn, artificial fencings that merely reflect of our own demarcations, our classifications, our desperate need to ward off the flux and meet an excusable but ungrounded demand for order and stability. The desert returns a picture of reality that is radically anti-realist. And yet the picture does not amount to a form of irrealism. The desert is out there and is what it is regardless of how we feel. And it is not completely structureless. It’s just that the structure it has is very thin and does not correspond to the sort of structure that so-called metaphysical realists—and scientific realists alike—tend to attribute to it. (shrink)

’ During the late Middle Ages a growth of scientific and philosophical knowledge began to occur. There was an increase in attention to art and architecture. Europe started to move forward in terms of intellect and culture. The ‘Golden Age of Europe’ is well exemplified in documents 6, 7, and 10. “… we learn that an age once traditionally described as ‘dark’ had remarkable vitality and exuberance. … But even more it was creative and inventive, and transmitted to later (...) ages great rich. -/- . (shrink)

In § 35 of Sein und Zeit Heidegger’s denunciation of Gerede, idle talk, is confident and scathing. It sounds so sinister and threatening. What could Heidegger be talking about? One could cite numerous fictional characters (e.g., Pecksniff, Mrs. Gamp, Skimpole, Podsnap – all in Dickens), characters whose speech is very nearly an idiolect of bad faith. And yet there is something so fascinating and creative in their speech, an exuberance in their dissimulation, that one wouldn’t want to miss them. (...) Could idle talk in Heidegger’s sense contribute to the theoretization of Bakhtin's idea of the dialogic and heteroglossia and to the notion of discours as it has been developed by Benveniste, Barthes, and Genette? In prose fiction language is valorized (often implicitly) in terms of meaning/nonsense, serious/non-serious, full/empty. When in fiction language that is deemed low, formulaic, or “empty”-- gossip, chatter, prattle, idiotismes – comes to the fore the narrative elements falters, “nothing much” is said. But a kind of speech as act and process is foregrounded. It is this kind of inadvertence in language, its “idling” state, that Gerede points to. (shrink)

In 2001 soon after the Asian Crises of 1997-1998, the DotcomBubble, 9/11, the Enron crises triggered a fraud crisis in Wall Street that impacted the market to the core. Since then scandals such as the Lehman Brothers and WorldCom in 2007-2008 and the Great Recession have surpassed it, Enron still remains one of the most important cases of fraudulent accounting. In 2000’s even though the financial industry had become highly regulated, deregulation of the energy industry allowed companies to place bets (...) on future prices. At the peak of the dotcom bubble Enron was named as a star innovator but when the dotcom bubble burst, Enron’s plan to build high speed internet did not flourish and investors started to realize losses. Furthermore, the financial losses of the operations were hid using the market to market accounting technique instead of book value and using special purpose entities to hide debt. The root cause that was identified as a company with a toxic corporate culture focused on officer compensation rather than social responsibility and hence faulty leadership. Is it possible then that; ethical accounting practices, social responsibility and ethics all become inferior goods as income rises in an ‘irrationally exuberant’era? (shrink)

World. An Interrogation and somehow definitive philosophical conclusion, between pai and exuberation.

Humphry Osmond wrote to Aldous Huxley in 1956 proposing the term “psychedelic,” coined from two Greek words to mean “mind manifesting.” The scholars, one a psychiatrist and the other a celebrated novelist and philosopher, were exuberant about the potential of drugs for accessing the mind. Huxley favored a phrase from William Blake: -/- If the doors of perception were cleansed everything would appear to man as it is, infinite. -/- He postulated that psychedelics disturbed the “cerebral reducing valve” (1954), and (...) that this was in fact the shared mechanism for regular drug trips, as well as schizophrenic and mystical experiences. If it were the case, the drugs could offer a chemical shortcut to the divine, and a reasonable way to scientifically study mental illness. -/- With such ideas in vogue, the 1950s were heady years, at least for research on psychedelic drugs. More than 750 articles were published on LSD alone. Some studies made use of the drug experience to model schizophrenia, others to develop treatments for alcoholism. And as Nicolas Langlitz explains in Neuropsychedelia: The Revival of Hallucinogen Research Since the Decade of the Brain, the brain as filter – the idea of gates or doors (which, yes, also gave name to the band) – would go on to serve as a significant shared conceptual matrix for psychopharmacologic research, from experimental psychosis to experimental mysticism (10). (shrink)