This article argues that shareholder primacy cannot be defended on the grounds that there is something special about the position of shareholders that grounds a right to preferential treatment on part of management. The notions of property and contract, traditionally thought to ground such a right, are now widely recognized as incapable of playing that role. This leaves shareholder theorists with two options. They can either abandon the project of arguing for their view on broadly deontological grounds (...) and try to advance consequentialist arguments instead, or they can search for other morally relevant properties that could ground shareholder rights. The most sustained argument in the latter vein is Marcoux’s attempt to show that the vulnerability of shareholders mandates that managers are their fiduciaries. I show that this argument leads to the unacceptable conclusion that it would be unethical for corporations to make incomplete contracts with nonshareholding stakeholders. (shrink)

ABSTRACT:The distinction between what I call nonelective obligations and discretionary obligations, a distinction that focuses on one particular thread of the distinction between perfect and imperfect duties, helps us to identify the obligations that carry over from principals to agents. Clarity on this issue is necessary to identify the moral obligations within “shareholder primacy”, which conceives of managers as agents of shareholders. My main claim is that the principal-agent relation requires agents to fulfill nonelective obligations, but it does (...) not always require discharging discretionary obligations. I show that the requirement to fulfill nonelective obligations is more far-reaching than has been acknowledged by most defenders and critics of shareholder primacy. But I also show that managers are not bound by certain discretionary obligations like charity, showing that their moral obligations are more circumscribed than the obligations that apply to human beings in general. (shrink)

Strudler rejects shareholder primacy and argues that, once contractual obligations have been fulfilled and shareholders have received a reasonable return on investment, corporate executives may use corporate wealth for the general good. He seeks to establish this claim via an argument that, contrary to the received view, shareholders do not own corporations. After raising some questions about the latter argument, this commentary goes on to argue that the question of corporate ownership is a red herring. The argument for (...) shareholder primacy that Strudler wants to reject does not rely on the premise that shareholders own the firm. (shrink)

Scholars who favor shareholder primacy usually claim either that managers should not fulfill corporate duties of beneficence or that, if they are required to fulfill them, they do so by going against their obligations to shareholders. Distinguishing between structurally different types of duties of beneficence and recognizing the full force of the normative demands imposed on managers reveal that this view needs to be qualified. Although it is correct to think that managers, when acting on behalf of shareholders, (...) are not required to fulfill wide duties of charity, they are nevertheless required to fulfill a variety of narrow duties of beneficence. What is more, the obligation to fulfill these duties arises precisely because they are acting on behalf of shareholders. As such, this article 1) refines our understanding of the duties of corporate beneficence and 2) helps to identify which duties of beneficence are imposed on managers when they are acting on behalf of shareholders. (shrink)

One of the central controversies in normative business ethics is the question whether transactions and economic relationships can be wrongfully exploitative despite being mutually beneficial and consensual. This article argues that anyone who accepts a shareholder theory of business ethics should accept deontological constraints on mutually beneficial, consensual exploitation.

We investigate the association between controlling shareholders' ownership (CS_Own) and firms' leverage decisions in the Singaporean context. We examine whether the impact of ownership concentration on leverage differs across excess and lower control. We report that shareholders with excess control prefer leverage financing for an optimal capital structure and focus on value maximisation rather using leverage as a tool of minority shareholders' expropriation. Our analysis shows that firms capital structure significantly influences by the coalition of shareholders particularly decisions about leverage (...) financing in addition to the firms' specific characteristics and institutional arrangements. Our empirical evidence shows that controlling shareholders with a lower fraction of equity are more concerned about limited holding thus prefer leverage over equity financing to inflate their equity stake to protect them from the potential takeovers and mergers. We report that capital structure decisions in Singapore are linked with the trade-off between the controlling shareholders' target of mitigating firm risk and their non-dilution entrenchment needs. Further, we found an inverted U-shaped association between control ownership and leverage financing. In terms of moderating effect of family-controlled ownership, our findings exhibit that leverage financing is less pronounced for family firms in Singapore due to the under-diversified investment portfolio. (shrink)

This paper looks at the specific proposed amendments to European directive 2007/36/EC and 2013/34/EU, and evaluates as to how such amendments alter shareholders’ moral responsibilities. To be responsible is here simply to be understood as being under an obligation, where an obligation is a requirement on an agent to either act or refrain from acting in a given way. In order to determine whether changes to the proposed directives alter shareholders’ moral responsibilities the following analysis argues that we need to (...) look at three factors: whether such changes do in fact alter the subject matter of shareholders’ obligations, a closer look at the agent i.e. shareholders to whom the obligation is to apply and thirdly whether they do actually apply. (shrink)

“Violence” and “nonviolence” are, increasingly, misleading translations for the Sanskrit words hiṃsā and ahiṃsā—used by Gandhi as the basis for his philosophy of satyāgraha. I argue for rereading hiṃsā as “maleficence” and ahiṃsā as “beneficence.” These two more mind-referring English words capture the primacy of intention implied by Gandhi’s core principles. Reflecting a political turn in moral accountability detectable through linguistic data, both the scope and the usage of the word “violence” have expanded dramatically, making it harder to convincingly (...) characterize people and actions as “nonviolent.” New terminology could clarify the distinction between hiṃsā and ahiṃsā, and, thereby, prevent misunderstandings of Gandhi. Training in beneficence would reflect Gandhi’s psychological path to reducing avoidable harm: ego-detachment, universal love, and seeking truth by experiment. -/- NOTE: An extended, unpublished version, with additional arguments and evidence, is also available on PhilPapers as "The Primacy of Intention and the Duty to Truth: A Gandhi-Inspired Argument for Retranslating Hiṃsā and Ahiṃsā, with Connections to History, Ethics, and Civil Resistance". (shrink)

The words "violence" and "nonviolence" are increasingly misleading translations for the Sanskrit words hiṃsā and ahiṃsā -- which were used by Gandhi as the basis for his philosophy of satyāgraha. I argue for re-reading hiṃsā as “maleficence” and ahiṃsā as “beneficence.” These two more mind-referring English words – associated with religiously contextualized discourse of the past -- capture the primacy of intention implied by Gandhi’s core principles, better than “violence” and “nonviolence” do. Reflecting a political turn in moral accountability (...) detectable through linguistic data, both the scope and the usage of the word “violence” have expanded dramatically. The expanded scope of “violence” reflects greater consciousness of the various forms that serious harm can take, but also makes it harder to convincingly characterize people and actions as “nonviolent.” New translations could clarify the distinction between hiṃsā and ahiṃsā, and thereby prevent some misunderstandings of Gandhi. Training in beneficence would reflect Gandhi’s psychological path to reducing avoidable harm: detachment from the ego, learning to love universally, and seeking truth by experiment. (shrink)

St. Thomas Aquinas has always considered intelligence a potency higher than the will, absolutely speaking. That being said, and in my view, the existential primacy of the will in the act of freedom (particularly in choosing the existential end) is also indisputably Thomistic, as Cornelio Fabro has shown. This paper endeavors to explain Aquinas' doctrine on the absolute primacy of the intellect and thus show that these two primacies can be affirmed coherently, that is, the intellect’s absolute (...) class='Hi'>primacy and the will’s existential primacy. Firstly, I will explain the reasoning St. Thomas Aquinas uses in the Summa to justify the absolute primacy of the intellect over the will. Secondly, I will explore some parallel texts, in order to shed light on my interpretation of the Summa and expand our view regarding this and related doctrinal points. Thirdly, I will offer a brief study of Fabro’s position, one in which his concerns regarding the intellect’s absolute primacy are taken into account and carefully considered. (shrink)

In this paper I respond to a set of basic objections often raised against those virtue theories in ethics which maintain that moral properties such rightness and goodness (and their corresponding concepts) are to be explained and understood in terms of the virtues or the virtuous. The objections all rest on a strongly-held intuition that the virtues (and the virtuous) simply must be derivative in some way from either right actions or good states of affairs. My goal is to articulate (...) several distinct, though related, objections grounded in this intuition, and to argue that virtue ethicists have ample resources to respond to these worries. The explanatory primacy of the virtuous over the right or the good emerges as a distinct and viable position. (shrink)

The copy provided on ths site is a late draft. It provides a philosophical argument for the view that by and large it is morally wrong to buy shares in a company that is behaving badly unless you (if necessary acting together with others) are able and willing to prevent the misbehaviour. A key lemma in my argument concerns a chain of authorisation from the shareholders to the company's board to the CEO -- one in virtue of which shareholders are (...) ultimately responsible for major patterns of wrongdoing by the company. (shrink)

I endorse a 12-word metaphysics. [1] Stoff ist Kraft ≈ being is energy. [2] Wesen ist Werden ≈ being is becoming. [3] Sein ist Sosein ≈ being is qualit[ativit]y. [4] Ansichsein ist Fürsichsein ≈ being is mind. [1]–[3] are plausible metaphysical principles and unprejudiced consideration of what we know about concrete reality obliges us to favor [4], i.e. panpsychism or panexperientialism, above all other positive substantive proposals. For [i] panpsychism is the most ontologically parsimonious view, given that the existence of (...) conscious experience is certain and that panpsychism doesn’t posit the existence of any kind of stuff other than conscious experience. [ii] A question also arises about why metaphysicians have posited the existence of something for which there is zero evidence: non-experiential concrete reality. The question is the more pressing because of the silence of physics: physics with its numbers and equations is perfectly silent on the question of the intrinsic non-structural nature of reality. (shrink)

Nyansa nye sika na w'akyekyere asie. One critical factor that has contributed to the spread of the virus COVID-19 and resulting illnesses and deaths is both the conceptual and the ethical confusion between the prioritization of individual rights over social duties. The adherence to the belief in the priority of rights over duties has motivated some individuals to refrain from social distancing and, as a result, has placed themselves and other individuals at serious risk to health and life. My argument (...) is that the ethical enjoinder of social duty possesses priority over the ethical value of individual rights especially in times of global crisis. I demonstrate this point by arguing that the concept of individual right is derivative from the concept of social duty and through the argument that the concept of social duty is more efficacious in addressing global threats to human life than is the concept of individual rights. What is needed is an in-depth revision of the moral ordering of rights and duties and a vision of the human being as inherently other directed with duties toward others. I shall examine two specific ethical systems, that of Confucian and African, Akan moral philosophy that exemplify such a revision of the moral order. (shrink)

What follows is an investigation of the ontology of Franz Brentano with special reference to Brentano's later and superficially somewhat peculiar doctrine to the effect that the substances of the material world are three dimensional places. Taken as a whole, Brentano's philosophy is marked by three, not obviously compatible, trait. In the first place, his work is rooted in the metaphysics of Aristotle, above all in Aristotle's substance/accident ontology and in the Aristotelian theory of categories. In the second place, Brentano (...) embraced a Cartesian epistemology. He saw the source of all knowledge as residing in our direct awareness of our own mental phenomena and in our capacity to grasp evident incompatibilities in the realm of concepts.) Thirdly, he regarded the existence of an external world as at most probable, and denied outright the existence of a world similar to the world that is given in experience. Finally, and in some sense linking together these opposing strands, he propagated an idea of what he called "descriptive psychology", a discipline which would on the one hand yield exact knowledge of the structures and categories of mental life, and on the other hand provide an epistemologically sure foundation for other branches of philosophy. As we shall see, it is this psychological aspect of Brentano's philosophy which leads him to his conception of the substantiality of place. Surprisingly, however, the psychological considerations which underlie Brentano's thinking will be shown to raise a series of questions strictly ontological in nature, questions which are not without a systematic interest of their own. (shrink)

This paper deals with the question of agency and intentionality in the context of the free-energy principle. The free-energy principle is a system-theoretic framework for understanding living self-organizing systems and how they relate to their environments. I will first sketch the main philosophical positions in the literature: a rationalist Helmholtzian interpretation (Hohwy 2013; Clark 2013), a cybernetic interpretation (Seth 2015b) and the enactive affordance-based interpretation (Bruineberg and Rietveld 2014; Bruineberg et al. 2016) and will then show how agency and intentionality (...) are construed differently on these different philosophical interpretations. I will then argue that a purely Helmholtzian is limited, in that it can account only account for agency in the context of perceptual inference. The cybernetic account cannot give a full account of action, since purposiveness is accounted for only to the extent that it pertains to the control of homeostatic essential variables. I will then argue that the enactive affordance-based account attempts to provide broader account of purposive action without presupposing goals and intentions coming from outside of the theory. In the second part of the paper, I will discuss how each of these three interpretations conceives of the sense agency and intentionality in different ways. (shrink)

In this paper we argue that the eudaimonist virtue of hope holds pride of place in development of psychological traits that promote human flourishing. The argument is part theoretical and part empirical. On the theoretical side, hope, the virtue, is the disposition to envision future good possibilities for oneself and one’s community and to move towards those possibilities. This renders hope necessary for any agent’s self-conscious pursuit of the goods that constitute flourishing, and also for the development of other virtues. (...) On the empirical side, we draw on evidence from psychology to argue that early in development, humans need relationships of trust with caregivers to develop the future orientation and features of agency constitutive of the virtue of hope. Thus the virtue of hope generally needs to be fostered, in part, through trusting relationships for humans to flourish. (shrink)

There are at least two threads in our thought and talk about rationality, both practical and theoretical. In one sense, to be rational is to respond correctly to the reasons one has. Call this substantive rationality. In another sense, to be rational is to be coherent, or to have the right structural relations hold between one’s mental states, independently of whether those attitudes are justified. Call this structural rationality. According to the standard view, structural rationality is associated with a distinctive (...) set of requirements that mandate or prohibit certain combinations of attitudes, and it’s in virtue of violating these requirements that incoherent agents are irrational. I think the standard view is mistaken. The goal of this paper is to explain why, and to motivate an alternative account: rather than corresponding to a set of law-like requirements, structural rationality should be seen as corresponding to a distinctive kind of pro tanto rational pressure—i.e. something that comes in degrees, having both magnitude and direction. Something similar is standardly assumed to be true of substantive rationality. On the resulting picture, each dimension of rational evaluation is associated with a distinct kind of rational pressure—substantive rationality with (what I call) justificatory pressure and structural rationality with attitudinal pressure. The former is generated by one’s reasons while the latter is generated by one’s attitudes. Requirements turn out to be at best a footnote in the theory of rationality. (shrink)

Two prominent normative theories of business ethics are stakeholder and shareholder theory. Business ethicists generally favor the former, while business people prefer the latter. If the purpose of business ethics is “to produce a set of ethical principles that can be both expressed in language accessible to and conveniently applied by an ordinary business person” , then it is important to examine this dichotomy.While superficially attractive, the normative version of stakeholder theory contains numerous limitations. Since balancing multiple stakeholder preferences (...) is difficult, competing claims often become tests of political strength rather than justice. Furthermore, stakeholder theory has significant normative weaknesses.Although less attractive to academic ethicists, shareholder theory may provide superior results for society. The shareholder model focuses companies on meeting society’s material needs. Wise owners often balance other stakeholders’ views well since it is necessary for the business’s long-term success. Finally, shareholder theory has a strong normative basis in autonomy.In light of this analysis, it is incumbent upon academic business ethicists to emphasize the value of shareholder theory when teaching business ethics courses. (shrink)

This paper explores R. D. Laing's application of existential and phenomenological tradtions, specifically Hegel and Heidegger, to his groundbreaking work with psychotic process as well as psychotherapeutic practice more generally.

In Philosophical Investigations, Wittgenstein proposed the notion of meaning that accounts for the large variety of contexts in which we apply the term “meaning”. This paper agreement with the manner in which Wittgenstein enhance his conception of meaning emphasizing his methodology of observation and description of particular cases. By applying a descriptive approach, Wittgenstein demonstrated that meaning of the term does not reside in physical or mental objects as well as in its correlations. As a result of contrasting denotative theory (...) as well as the correspondence theory of meaning and recognizing the inadequacy of the accounts of meaning, he has proposed earlier in his Tractatus. But in later work, he has suggested that only one conception of meaning which could not be invalidated, at least for a large class of cases. This is none other than the notion of meaning which is regarded as public in nature. Consequently, the meaning of a term is not its denotation but its “use” in the language. Hence, by upholding the slogan i.e., “meaning is use” here I want to illustrate the supremacy of use over “naming” concerning to Wittgenstein’s Tractatus and Philosophical Investigations. (shrink)

The Gestalt principle of isomorphism reveals the primacy of subjective experience as a valid source of evidence for the information encoded neurophysiologically. This theory invalidates the abstractionist view that the neurophysiological representation can be of lower dimensionality than the percept to which it gives rise.

The following thesis discusses a range of central aspects in Timothy Williamson’s so-called «knowledge-first» epistemology. In particular, it adresses whether this kind of epistemological framework is apt to answer the challenges of scepticism.

The objective of this article is to compare and contrast the influential notion of natural and property rights created by John Locke in his "Second Treatise on Government" (1689) to the posterior notion of abstract right expressed by Georg Wilhelm Friedrich Hegel in his "Elements of the Philosophy of Right". Said analysis is particularly pertinent given the complexity of Hegel’s political philosophy, and, perhaps more importantly, seeing as Hegel’s abstract right was (allegedly and in part) intended to point out the (...) shortcomings of Locke’s theory of natural and property rights, in order to further the human understanding of the world. More specifically, this article will examine the two rights theories in terms of their respective amounts of emphasis on individualism, or lack thereof. It will reveal three areas in which Lockean rights are more geared towards the primacy of the individual than Hegelian rights: (1) in their respective understandings of what it means to be a person, (2) in their conduciveness to individual wellbeing through the obligations each theory entails, and (3) in the extent of the rights themselves in relation to the state. (shrink)

Abstract In this paper I argue that to understand the ethics of belief we need to put it in a context of what we care about. Epistemic values always arise from something we care about and they arise only from something we care about. It is caring that gives rise to the demand to be epistemically conscientious. The reason morality puts epistemic demands on us is that we care about morality. But there may be a (small) class of beliefs which (...) it is not wrong to hold unconscientiously. I also argue that epistemic values enjoy a privileged place in the panorama of what we care about because they are entailed by anything we care about. That means that when there is a conflict between caring about knowledge or true belief and caring about something else, that conflict cannot be resolved simply by following the one we care about the most because caring about knowledge in any domain is entailed by caring about that domain. Finally, I argue that whereas caring demands different degrees of conscientiousness in different contexts, contextualism about knowledge is less plausible. (shrink)

My aim is to explore how the notion of personhood is tied to the notion of space--both physical and moral space. In particular, I argue against the Cartesian view of the disengaged/disembodied self and in favour of Charles Taylor's and Martin Heidegger's view of the engaged and embedded self. I contend that space, as the transcendental condition for the possibility of human agency, is the place where questions of identity are possible and answers, if any, are to be found. Thus, (...) personal identity and space are inexorably tied and dependent on one another. (shrink)

Adopting modal logic the doctrine of the primacy of Christ is defined and defended in relation to the Thomistic – Scotistic debates over the primary and efficient causes of the incarnation. This leads to a defence of the Scotistic thesis and a reserved affirmation for the Scotistic hypothesis that there would have been an incarnation irrespective of the fall. This hypothesis is tested by reference to the work of four recent theologians, Thomas Weinandy O.F.M. cap., Karl Barth, J¨urgen Moltmann, (...) and Thomas Torrance. Finally, a sketch describ-ng another possible-world incarnation that builds upon the Scotistic hypothesis is provided. (shrink)

In this paper, I offer an immanent critique of John Rawls’s theory of justice which seeks to show that Rawls’s understanding of his theory of justice as criteriological and contractarian is ultimately incompatible with his claim that the theory is grounded on the primacy of the practical. I agree with Michael Sandel’s observation that the Rawlsian theory of justice rests on substantive metaphysical and epistemological claims, in spite of Rawls’s assurances to the contrary. But while Sandel argues for even (...) more substantive metaphysical and epistemological commitments, I argue in the opposite direction. Following J. G. Fichte, I argue for a normative theory of society, not based on some particular notion of the good or on some contentious account of what all reasonable persons would agree to, but based only on the radical primacy of the practical, that is, based only on the seemingly empty premise that free beings - precisely because they are free - cannot be imagined in advance as all agreeing to any particular thing at all. (shrink)

This paper is a pastiche of the Lacanian philosopher Renata Salecl, my fourth attempt, combined with a note. In it I present a response I anticipate from analytic philosophy to the thesis that the signifier has priority over the signified: that this thesis is either trivially true or obviously false.

Vardoulakis argues that the notion of law as developed in chapter 4 of Spinoza's Theological Political Treatise does not rely on a notion of legitimacy but rather on how authority justifies itself. To demonstrate this point, Vardoulakis analyzes closely the example of Adam and the Fall used by Spinoza in that chapter of the Treatise.

I review Michael T. Ferejohn's "Formal Causes: Definition, Explanation, and Primacy in Socratic and Aristotelian Thought".

Sartre’s account of the emotions presupposes a conception of human nature that is never fully articulated. The paper aims to render such conception explicit and to argue that frustration occupies a foundational place in Sartre’s picture of affective existence.

Volume 11, Issue 1, March 2019, Page 7-18.

The discussion develops the view that public justification in Rawls’s political liberalism, in one of its roles, is actualist in fully enfranchising actual reasonable citizens and fundamental in political liberalism’s order of justification. I anchor this reading in the political role Rawls accords to general reflective equilibrium, and examine in its light the relationship between public justification, pro tanto justification, political values, full justification, the wide view of public political culture and salient public reason intuitions. This leaves us with the (...) question of how a more plausible, post-Rawlsian political liberalism should understand the commitment to discursive respect and robust discursive equality that is reflected in its view of actualist and fundamental public justification. (shrink)

This essay offers an examination of Agamben's statement that there is an important ambiguity in Aristotle's Metaphysics Theta as to whether actuality or potentiality is primary. I argue that this ambiguity is significant because it exposes the ontological dimension of Agamben's paradox of sovereignty.

In his discussion of evolution, Bavinck offers a modified theory of development, rooted not under a mechanistic and naturalistic worldview, as Darwin does, but under a ‘theistic-friendly’ framework. This paper argues that Bavinck’s discussion of evolution as whole endorses a modified Aristotelian/Thomistic framework in order to understand the theory of development, and thus overcoming the challenges raised by Darwin’s naturalistic worldview to biblical revelation.

On the basis of the conception of aesthetic imagination derived from evolutionary psychology, cognitive psychology, and social cognitive neuroscience, today it is possible - and more appropriate - to invert the traditional view of anthropologists and archeologists that conceives the arts (from the early pre-historic arts) as mere instruments supporting religious beliefs, practices, and rituals.

This thesis-on macro-ontology, physics, logic, and metalogical principles presents the findings, results, theorems, and metatheory that correct long-standing defects and deficiencies of current standard model (SM) physics and cosmology. It eliminates artificial SM anomalies, paradoxes, logical fallacies, absurdities, and conflicts with reality (and the findings of plasma physics, astronomy, ontology, epistemics, etc.). New theorems and metatheorems eliminate the illogic maintaining distortions of post-Einsteinian physics, its wildly speculative conjectures, and shibboleths (its unrealistic assumptions commonly accepted as facts). In critiques of misperceptions, (...) misconceptions and misinterpretations of observations and data, this work exposes the common failure to recognize the severe deficiencies of theory, science, ontology, and metamathematics. New results prove that chronic failure to differentiate realities from theorems, hypotheses, conjectures, opinions, and beliefs prevents progress to better physics and STEM education. Therefore, this work also enables resolution of the long-standing logical incongruency of physics, psychology, cognitive science, and philosophy, especially ontology. So, the facts and proofs presented here can enable a new era of discovery, creativity, and technological progress. (shrink)

Referring to the difference between Stakeholder Theory and Shareholder Theory, the ethical direction for companies to take is deeply discussed.

What follows is a preponderant article preceding a possible paper - which aims at offering novel solutions to the so-called Euthyphro dilemma. The way it tries to offer those is to patch both western and eastern philosophers and the outcome is devastating to the dilemma to say the least! I've introduced and phrased a new term called "Primacy of being", which helps understand Plato's mistake in copping out of the dilemma. As everyone else, I've stood on the shoulders of (...) giants, but have done my own contribution I believe. Let the reader decide! Not to mention I have consulted multiple top-end philosophers like Dr. Edward Moad before uploading. (shrink)

The concept of organizational stigma has received significant attention in recent years. The theoretical literature suggests that for a stigma to emerge over a category of organizations, a “critical mass” of actors sharing the same beliefs should be reached. Scholars have yet to empirically examine the techniques used to diffuse this negative judgment. This study is aimed at bridging this gap by investigating Goffman’s notion of “stigma-theory”: how do stigmatizing actors rationalize and emotionalize their beliefs to convince their audience? We (...) answer this question by studying the stigma over the finance industry since 2007. After the subprime crisis, a succession of events put the industry under greater scrutiny, and the behaviors and values observed within this field began to be publicly questioned. As an empirical strategy, we collected opinion articles and editorials that specifically targeted the finance industry. Building on rhetorical analysis and other mixed methods of media content analysis, we explain how the stigmatizing rhetoric targets the origins of deviant organizational behaviors in the finance industry, that is, the shareholder value maximization logic. We bridge the gap between rhetorical strategies applied to discredit organizations and ones used to delegitimize institutional logics by drawing a parallel between these two literatures. Taking an abductive approach, we argue that institutional contradiction between field and societal-level logics is sufficient, but not necessary to generate organizational stigma. (shrink)

The goal of this paper is to sketch an account of Kant’s signature metaphysical doctrine (transcendental idealism) that (a) has no supporters – as far as I am aware – in the contemporary literature, and (b) draws its primary motivation (as interpretation) from considerations regarding our practical situation and needs as agents. -/- The consideration I focus on here is that people not only have mental and moral features, but they also appear to us – in our daily experience – (...) to have such features: “[w]e can perceive virtue in our experience (Wir können in der Erfahrung wohl Tugend wahrnehmen)” (24: 906). The same presumably goes for vice: When I see you casually torturing a cat, you appear to me to be brown-haired, wearing jeans, moving your arms, laughing, and so on, but you also appear to me to be vicious and cruel. Your character shines through in your actions. I can then make a defeasible inference from those appearances to the moral reality. -/- Such appearances and inferences play a central role in our practices of praise, blame, forgiveness, and punishment. An interpretation of transcendental idealism that gives primacy to the practical will thus seek to analyze the concepts of experience, acquaintance, and appearance/phenomenon in a capacious-enough way that they can apply to mental and moral features too. If successful, such an interpretation would have a clear practical advantage over those that leave us merely conjecturing from experiences of bodies, gestures, and secondary qualities to moral features that do not appear, or even to the non-appearing features of a distinct set of things. (shrink)

Following Darcy’s concession in 1901, Britain began oil exploration in the southwest of Iran. In 1908, economic oil was discovered, and the Anglo- Persian Oil Company (APOC) was established. This company from its establishment was under the influence of the British Government, to extend that, Britain became its major shareholder in 1917 which continued until the nationalization of Iran’s oil in 1951. In the meantime, the concession and following agreements prepared an almost autonomous status for the company. Generally, Iran (...) had never been a British colony, however; this status had evidence of colonialism and let the company build the artificial environment in Iran’s southwestern, based on its attitudes and values, as well as hierarchical structure, racial-class segregation, and closed society, which experts consider it as a type of social engineering. According to this, the building formed by the company could manifest the upstream ideas, specifically in towns that were completely shaped by it. Therefore, Masjed Soleyman and Abadan, the two main company towns of the British-owned Anglo-Persian Oil Company, which were quite isolated from other parts of Iran, could be suitable platforms for displaying the company’s attitudes and values. Therefore, this research by interpretive-historical methodology, based on both primary and secondary sources from desk research and archival research, investigates the manifestation of the company’s attitudes and values in its quiet a half-century (1901-1951) building in Masjed Soleyman and Abadan, in five periods. These periods were shaped based on the most important happens including periods of exploration (1901-1908), formation (1908-1917), primary development (1917-1933), secondary development (1933-1939), and leading to the nationalization of oil (1939- 1951). In the first period, there is no evidence of architecture or urbanism, in the second and third periods, architecture, specifically bungalows appeared company values and in the fourth and fifth periods, urbanism especially, garden cities represented company values. (shrink)

Kant’s “primacy of the practical” doctrine says that we can form morally justified commitments regarding what exists, even in the absence of sufficient epistemic grounds. In this paper I critically examine three different varieties of Kant’s “moral proof” that can be found in the critical works. My claim is that the third variety—the “moral-psychological argument” based in the need to sustain moral hope and avoid demoralization—has some intriguing advantages over the other two. It starts with a premise that more (...) clearly coheres with Kant’s mature account of moral motivation, and it invokes plausible empirical-psychological theses to motivate a commitment to the full-blown classical deity—the result Kant clearly wanted. From the point of view of its structure, I think this third variety of moral argument also has the most by way of contemporary interest. (shrink)

This paper presents a critical analysis of dual-class share structures (DCSS) within an ethical and logical framework for ownership and control. Moreover, it contends that the existence of DCSS constitutes a de facto infringement on the ownership rights of shareholders. By adopting a conceptual approach rooted in symbolic logic, the paper demonstrates that DCSS falls short of the ethical precept of “one share, one vote” and is therefore an unjust and inefficient equity arrangement. The paper contributes to the existing literature (...) on DCSS by focusing on the ethical and logical basis of such share structures. (shrink)

According to Streeck and Vogl, the neoliberalization of the state has been the result of political-economic developments that render the state dependent on financial markets. However, they do not explain the discursive shifts that would have been required for demoting the state to the role of an agent to bondholders. I propose to explain this shift via the performative effect of neoliberal agency theory. In 1976, Michael Jensen and William Meckling claimed that corporate managers are agents to shareholding principals, which (...) implied that their main task was the procurement of shareholder value. Agency theory subsequently prescribes a series of measures to ensure the alignment of principal and agent interests in corporations. The diffusion of agency theory, however, moved beyond corporate governance to reconfigure the state. Due to its reliance on capital markets, the state supposedly likewise becomes an agent of the investment public and should procure bondholder value. (shrink)

This chapter examines the place of India in eighteenth-century debates over the chronology of human history. It begins with Voltaire, who strategically praised ancient Brahmanic religion for upholding a pure form of monotheism and an equally pure form of morality. Voltaire’s aim was to upset the primacy assigned to the Mosaic tradition foundational to the Catholic church. The chapter then turns to Herder and his effort to improve upon the historical methods of Voltaire. While Herder is often considered to (...) have developed positive views toward ancient Indian culture, the chapter shows that his commitment to a biblical chronology was consistent throughout his career. (shrink)

The urgency of the problem of climate change calls upon us to investigate the climate duties of agents beyond the state. Individuals are the most salient candidate in this respect. In section I, I argue that the idea that individuals might have duties to reduce their emissions raises difficult issues about individual difference-making. The rest of the chapter, then, focuses on what I take to be the third most-salient duty-bearer: large for-profit corporations. These entities have largely been overlooked in philosophical (...) discussions of climate-related duties. In Section II, I consider two possible reasons for this neglect, and argue that neither are good reasons. In Section III, I give a positive case for weighty and demanding duties for corporations, to cut back their present and planned emissions and to offset their past emissions. In Section IV, I bring the discussion full circle: corporations’ duties always imply duties for corporations’ members, that is, for the individuals who constitute the corporation. Drawing on earlier work, I give an account of who corporations’ members are and how their duties are structured. In heavily-emitting corporations, members prominently include managers, shareholders, and rank-and-file employees. So a range of individuals are on the hook after all, because the corporations that they constitute bear duties. Additionally, even non-members may have duties to act upon corporations, from the outside, with a view to inducing corporate duty-fulfillment. (shrink)