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.

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)

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)

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)

In this paper I argue that Christopher Kutz misapplies his theory of joint action when he attributes shareowners responsibilities on the basis of their intentional participation in the corporations in which they invest. Instead I propose that his theory of joint action should be used to attribute shareowners responsibilities on the basis of their intentional participation in the stock market. If shareholders’ accountability is grounded in their intentional participation in the stock market, then shareholders cannot take responsibility for (...) corporation’s individual actions. Instead they are solely responsible for the benefits they gain from holding shares if these are a result of moral wrongdoing and for this they should be held accountable. (shrink)

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

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)

Economic liberty is best understood in opposition to economic domination. This article develops a radical republican conception of such domination. In particular, I argue that radical republicanism provides a more satisfactory account of individual economic freedom than the market-friendly liberties of working, transacting, holding, and using championed by Nickel and Tomasi. So too, it avoids the pitfalls of other conceptions of economic liberty which emphasize real freedom, alternatives to immiserating work, or unalienated labor. The resulting theory holds that economic (...) domination occurs when someone’s access to civic capabilities is contingent on the arbitrary economic power of others. Socialist institutions—suitably configured—can deliver on this individual economic freedom, allowing the dominating power of proprietors, shareholders, landlords, and managers to be kept in check, and providing an unconditional minimum that allows individual citizens to be less beholden to others in meeting many of their most fundamental civic needs. Thus, I conclude that socialism can be championed as a politics of individual economic liberty. (shrink)

In this paper, I develop two philosophically suggestive arguments that the late Justice Stevens made in Citizens United against the idea that business corporations have free speech rights. First, (1) while business corporations conceived as real entities are capable of a thin agency conceptually sufficient for moral rights, I argue that they fail to clear important justificatory hurdles imposed by interest or choice theories of rights. Business corporations conceived as real entities lack an interest in their personal security; moreover, they (...) are incapable of exercising innate powers of choice. Second, (2) I argue that the structure and functionally individualized purpose of a business corporation—to increase value for its shareholders—undermines the implicit joint commitment necessary to derive corporate rights of free speech from non-operative shareholder-member rights. Since one cannot transfer innate moral rights such as free speech, any exercise of this right on behalf of another must be limited in scope. (shrink)

Workplace democracy is often defined, and has recently been defended, as a form of intra-firm governance in which workers have control rights over management with no ownership requirement on their part. Using the normative tools of republican political theory, the paper examines bargaining power disparities and moral hazard problems resulting from the allocation of control rights and ownership to different groups within democratic firms, with a particular reference to the European codetermination system. With various qualifications related to potentially mitigating (...) factors, such as workforce and shareholder composition or risk aversion and reallocation, the paper contends that forms of workplace democracy in which workers control and own the firm, such as cooperativism, are preferable to other forms, such as codetermination, in which ownership and control rights are formally separated. (shrink)

Nancy MacLean’s book, Democracy in Chains, raised questions about James M. Buchanan’s commitment to democracy. This paper investigates the relationship of classical liberalism in general and of Buchanan in particular to democratic theory. Contrary to the simplistic classical liberal juxtaposition of “coercion vs. consent,” there have been from Antiquity onwards voluntary contractarian defenses of non-democratic government and even slavery—all little noticed by classical liberal scholars who prefer to think of democracy as just “government by the consent of the governed” (...) and slavery as being inherently coercive. Historically, democratic theory had to go beyond that simplistic notion of democracy to develop a critique of consent-based non-democratic government, e.g., the Hobbesian pactum subjectionis. That critique was based firstly on the distinction between contracts or constitutions of alienation (translatio) versus delegation (concessio). Then the contracts of alienation were ruled out based on the theory of inalienable rights that descends from the Reformation doctrine of inalienability of conscience down through the Enlightenment to modern times in the abolitionist and democratic movements. While he developed no theory of inalienability, the mature Buchanan explicitly allowed only a constitution of delegation, contrary to many modern classical liberals or libertarians who consider the choice between consent-based democratic or non-democratic governments (e.g., private cities or shareholder states) to be a pragmatic one. But Buchanan seems to not even realize that his at-most-delegation dictum would also rule out the employer-employee or human rental contract which is a contract of alienation “within the scope of the employment.”. (shrink)

Tomorrow’s leaders won’t emerge from top-down hierarchies but from new types of organizational structures. -/- Decentralization, cooperation and inclusion play an increasing role in the success of any organization. And new governance models have been created to meet this global trend. -/- The concept of the postmodern organization for instance – one that is decentered, self-reflexive and multi-faceted – is more than 20 years old. The idea that organizations should not focus solely on shareholder value but serve a diverse (...) set of stakeholders (pluralistic organizations) is more relevant than ever, although it was already widespread in the early 2000s. Alternative governance models exist but still need to gain in popularity. -/- In this interview series, we’ve asked a panel of experts to describe (not so) new leadership and organizational theories, what they have learned while practicing them and how more organizations could start applying them. (shrink)

Multiple inherent biases related to different citation practices (for e.g., self-citations, negative citations, wrong citations, multi-authorship-biased citations, honorary citations, circumstantial citations, discriminatory citations, selective and arbitrary citations, etc.) make citation-based bibliometrics strongly flawed and defective measures. A paper can be highly cited for a while (for e.g., under circumstantial or transitional knowledge), but years later it may appear that its findings, paradigms, or theories were untrue or invalid anymore. By contrast, a paper may remain shelved or overlooked for years or (...) decades, but new studies or discoveries may actualize its subject at any moment. As citation-based metrics are transformed into "commercial activities," the "citation credit" should be considered on a commercial basis too, in the sense that "citation credit" should be shared out as a "citation dividend" by shareholders (coauthors) averagely or proportionally to their contributions but not fully appropriated by each of them. At equal numbers of citations, the greater number of authors, the lower "citation credit" should be and vice versa. Overlooking the presence of distorted and subjective citation practices makes many people and administrators "obsessed" with the number of citations to such an extent to run after "highly cited" authors and to create specialized citation databases for commercial purposes. Citation-based bibliometrics, however, are unreliable and unscientific measures; citation counts do not mean that a more cited work is of a higher quality or accuracy than a less cited work because citations do not measure the quality or accuracy. Citations do not mean that a highly cited author or journal is more commendable than a less cited author or journal. Citations are not more than countable numbers: no more, no less. (shrink)

Harrison Frye claims that socialist republicanism may be unable to reduce domination due to efficiency costs and accountability deficits imposed by public ownership. I argue that the empirical and theoretical grounds for expecting such a decline in economic efficiency are weak. Moreover, the egalitarian distributive effects of public ownership are likely to be more important for insulating people from domination. So too, workers, consumers, and citizens are not well-protected from domination by the accountability of managers to profit-seeking shareholders. I conclude (...) that the investor-owned firm will do far more to exacerbate dominating power than to constrain it. (shrink)

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)

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 (...) class='Hi'>shareholder primacy that Strudler wants to reject does not rely on the premise that shareholders own the firm. (shrink)

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)

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)

This paper starts by characterising moral requirements and everyday thought. Then ways in which moral requirements shape everyday thought are identified, including the way internalised moral requirements prevent some possible actions from even being considered. The paper then explains that everyday moral thought might be structured by dispositions to which there are corresponding principles even if these principles do not usually appear in the conscious thoughts of agents while they are engaged in everyday moral decision-making. Nevertheless, especially when conflicts between (...) moral considerations arise, alternative possible resolutions are typically framed in terms of principles. The paper pushes on to discuss how everyday moral thought is pushed to consider principles, engage in moral theorising, and even consider abstract moral theories. (shrink)

« Pourquoi les choses tiennent-elles ensemble ? » (Traité d'ontologie, 2009, p. 237). Cette citation me sert de départ à une réflexion sur la nature des relations liantes souvent appelées relations de comprésence à la suite de Russell, ces bundling relations qui nouent les propriétés ensembles pour constituer les objets ordinaires (tables, chaises, individus biologiques) selon la théorie du faisceau. De même que Frédéric Nef, je suis séduit par les nombreuses vertus philosophiques de ces relations liantes. Ma contribution ne portera (...) pas sur une critique ou une défense de ces relations mais sur l'étude de leur nature, et en particulier, de leur possible nature méréologique. Je vais esquisser rapidement certains aspects de la théorie classique du faisceau que je qualifierai de réaliste pour opposer ensuite les variantes réalistes à deux autres versions méréologiques de la théorie, que je qualifierai d'éliminativistes. (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)

The new theory of reference has won popularity. However, a number of noted philosophers have also attempted to reply to the critical arguments of Kripke and others, and aimed to vindicate the description theory of reference. Such responses are often based on ingenious novel kinds of descriptions, such as rigidified descriptions, causal descriptions, and metalinguistic descriptions. This prolonged debate raises the doubt whether different parties really have any shared understanding of what the central question of the philosophical (...) class='Hi'>theory of reference is: what is the main question to which descriptivism and the causal-historical theory have presented competing answers. One aim of the paper is to clarify this issue. The most influential objections to the new theory of reference are critically reviewed. Special attention is also paid to certain important later advances in the new theory of reference, due to Devitt and others. (shrink)

If the world itself is metaphysically indeterminate in a specified respect, what follows? In this paper, we develop a theory of metaphysical indeterminacy answering this question.

What are conspiracy theories? And what, if anything, is epistemically wrong with them? I offer an account on which conspiracy theories are a unique way of holding a belief in a conspiracy. Specifically, I take conspiracy theories to be self-insulating beliefs in conspiracies. On this view, conspiracy theorists have their conspiratorial beliefs in a way that is immune to revision by counter-evidence. I argue that conspiracy theories are always irrational. Although conspiracy theories involve an expectation to encounter some seemingly disconfirming (...) evidence (allegedly planted by the conspirators), resistance to all counter- evidence cannot be justified on these grounds. (shrink)

This chapter surveys hybrid theories of well-being. It also discusses some criticisms, and suggests some new directions that philosophical discussion of hybrid theories might take.

Christian von Ehrenfels was a student of both Franz Brentano and Carl Menger and his thinking on value theory was inspired both by Brentano’s descriptive psychology and by the subjective theory of economic value advanced by Menger, the founder of the Austrian school of economics. Value, for Ehrenfels, is a function of desire, and we ascribe value to those things which we either do in fact desire, or would desire if we were not convinced of their existence. He (...) asserts that the needed theoretical understanding of values is to be achieved by generalizing economic laws of valuation to apply to value in general. The law of marginal utility, for example, is a law to the effect that the n+1st sample of a good which I receive is ceteris paribus less valuable than the nth sample (imagine that the samples in question are, for example, a series of identical ham sandwiches). The essay describes how Ehrenfels provides on this basis an account of the different types of values, both intrinsic and non-intrinsic. It outlines also Ehrenfels views on the problem of interpersonal value-comparisons and on the struggle for survival between different values of different types. (shrink)

As humans, we use the power of thinking to make scientific discoveries, develop technologies, manage social interactions, and transmit knowledge to the next generations. With the ability to think, we can trace back and discover the origin of the universe, the natural world, and ourselves. The content of this book, Mindsponge Theory, is part of that discovery process. -/- Product Details -/- Publisher ‏ : ‎ Walter de Gruyter (December 6, 2022) Publication date ‏ : ‎ December 6, 2022 (...) Language ‏ : ‎ English Hardcover ‏ : ‎ 214 pages ISBN-10 ‏ : ‎ 8367405145 ISBN-13 ‏ : ‎ 978-8367405140 Dimensions ‏ : ‎ 6.3 x 0.71 x 9.29 inches -/- . (shrink)

We develop a new version of the causal theory of spacetime. Whereas traditional versions of the theory seek to identify spatiotemporal relations with causal relations, the version we develop takes causal relations to be the grounds for spatiotemporal relations. Causation is thus distinct from, and more basic than, spacetime. We argue that this non-identity theory, suitably developed, avoids the challenges facing the traditional identity theory.

This contribution considers whether or not it is possible to devise a coherent form of external skepticism about the normative if we ‘relax’ about normative ontology by regarding claims about the existence of normative truths and properties themselves as normative. I answer this question in the positive: A coherent form of non-normative error-theories can be developed even against a relaxed background. However, this form no longer makes any reference to the alleged falsity of normative judgments, nor the non-existence of normative (...) properties. Instead, it concerns a specifically inferentialist construal of error-theories which suggests that error-theorists should abstain from any claims about normative ontology to focus exclusively on claims about the inferential role of normative vocabulary. As I will show, this suggestion affords a number of important advantages. However, it also comes at a cost, in that it might not only change the letter, but also the spirit of traditional error-theories. (shrink)

Quassim Cassam has argued that psychological and epistemological analyses of conspiracy theories threaten to overlook the political nature of such theories. According to Cassam, conspiracy theories are a form of political propaganda. I develop a limited critique of Cassam's analysis.This paper advances two core theses. First, acceptance of conspiracy theories requires a rejection of epistemic authority that renders conspiracy theorists susceptible to co-option by certain political programs while insulating such programs from criticism. I argue that the contrarian nature of conspiracy (...) theories partially accounts for the prominence of such theories in populist movements.Second, the contrarian nature of conspiracy theories partially accounts for their attractiveness, especially among those to whom populism already appeals. I argue that for those who resent what appears from their perspective as the shaping of the epistemic landscape by alien perspectives, conspiracy theorizing may facilitate the reassertion of epistemic autonomy. (shrink)

Ranking theory is one of the salient formal representations of doxastic states. It differs from others in being able to represent belief in a proposition (= taking it to be true), to also represent degrees of belief (i.e. beliefs as more or less firm), and thus to generally account for the dynamics of these beliefs. It does so on the basis of fundamental and compelling rationality postulates and is hence one way of explicating the rational structure of doxastic states. (...) Thereby it provides foundations for accounts of defeasible or nonmonotonic reasoning. It has widespread applications in philosophy, it proves to be most useful in Artificial Intelligence, and it has started to find applications as a model of reasoning in psychology. (shrink)

This essay makes the case for, in the phrase of Angelika Kratzer, packing the fruits of the study of rational decision-making into our semantics for deontic modals—specifically, for parametrizing the truth-condition of a deontic modal to things like decision problems and decision theories. Then it knocks it down. While the fundamental relation of the semantic theory must relate deontic modals to things like decision problems and theories, this semantic relation cannot be intelligibly understood as representing the conditions under which (...) a deontic modal is true. Rather it represents the conditions under which it is accepted by a semantically competent agent. This in turn motivates a reorientation of the whole of semantic theorizing, away from the truth-conditional paradigm, toward a form of Expressivism. (shrink)

It is natural to think of remembering in terms of causation: I can recall a recent dinner with a friend because I experienced that dinner. Some fifty years ago, Martin and Deutscher (1966) turned this basic thought into a full-fledged theory of memory, a theory that came to dominate the landscape in the philosophy of memory. Remembering, Martin and Deutscher argue, requires the existence of a specific sort of causal connection between the rememberer's original experience of an event (...) and his later representation of that event: a causal connection sustained by a memory trace. In recent years, it has become apparent that this reference to memory traces may be out of step with memory science. Contemporary proponents of the causal theory are thus confronted with the question: is it possible to develop an empirically adequate version of the theory, or is it time to move beyond it? This chapter traces the recent history of the causal theory, showing how increased awareness of the theory’s problems has led to the development of modified version of the causal theory and ultimately to the emergence of postcausal theories. (shrink)

Philosophical debate about the meaning of normative terms has long been pulled in two directions by the apparently competing ideas: (i) ‘ought’s do not describe what is actually the case but rather prescribe possible action, thought, or feeling, (ii) all declarative sentences deserve the same general semantic treatment, e.g. in terms of compositionally specified truth conditions. In this paper, I pursue resolution of this tension by rehearsing the case for a relatively standard truth-conditionalist semantics for ‘ought’ conceived as a necessity (...) modal and proposing a revision to it motivated by the distinctively prescriptive character of some deontic modals. In my view, this puts pressure on a popular conception of one of the core debates of metanormative theory between realists and antirealists. To make good on this claim, I go on to explore two very general ways we might interpret the results of compositional semantics—“representationalism” and “inferentialism”—in order to argue that, contrary to what is generally assumed, both can capture the special prescriptivity of ‘ought’ and both can countenance compositionally specified and informative truth-conditions for ought-sentences. Hence, my main thesis is that the deciding factor between them should not be which of ideas (i) and (ii) we are more impressed by but rather what we think of the relative merits of how representationalism and inferentialism respect these ideas. I’m inclined to favor an antirealist form of inferentialism, but the task I’ve set myself here is mainly to articulate the view in the context of metanormative theory and the semantics of deontic modals rather than try to defend it fully. To this purpose, towards the end I also briefly compare and contrast inferentialism with a third “ideationalist” metasemantic view, which may be an attractive home for some sophisticated versions of metanormative expressivism. Depending on how expressivism is worked out, it may be completely compatible with and so perhaps usefully combined with inferentialism or it may offer a competing way to respect ideas (i) and (ii). (shrink)

A comparison of disjunctive theories of action and perception. The development of a theory of action that warrants the name, a disjunctive theory. On this theory, there is an exclusive disjunction: either an action or an event (in one sense). It follows that in that sense basic actions do not have events intrinsic to them.

This paper compares tracking and phenomenal intentionality theories of intentionality with respect to the issue of naturalism. Tracking theories explicitly aim to naturalize intentionality, while phenomenal intentionality theories generally do not. It might seem that considerations of naturalism count in favor of tracking theories. We survey key considerations relevant to this claim, including some motivations for and objections to the two kinds of theories. We conclude by suggesting that naturalistic considerations may in fact support phenomenal intentionality theories over tracking theories.

The sensorimotor theory of perceptual consciousness offers a form of enactivism in that it stresses patterns of interaction instead of any alleged internal representations of the environment. But how does it relate to forms of enactivism stressing the continuity between life and mind? We shall distinguish sensorimotor enactivism, which stresses perceptual capacities themselves, from autopoietic enactivism, which claims an essential connection between experience and autopoietic processes or associated background capacities. We show how autopoiesis, autonomous agency, and affective dimensions of (...) experience may fit into sensorimotor enactivism, and we identify differences between this interpretation and autopoietic enactivism. By taking artificial consciousness as a case in point, we further sharpen the distinction between sensorimotor enactivism and autopoietic enactivism. We argue that sensorimotor enactivism forms a strong default position for an enactive account of perceptual consciousness. (shrink)

This paper explores whether it is possible to reformulate or re-interpret Lewis’s theory of fundamental laws of nature—his “best system analysis”—in such a way that it becomes a useful theory for special science laws. One major step in this enterprise is to make plausible how law candidates within best system competitions can tolerate exceptions—this is crucial because we expect special science laws to be so called “ceteris paribus laws ”. I attempt to show how this is possible and (...) also how we can thereby make the first step towards a solution for the infamous difficulties surrounding the troublesome ceteris paribus clause. The paper outlines the general ideas of the theory but also points out some of its difficulties and background assumptions. (shrink)

Existing social disparities in the United States are inconsistent with Lincoln’s promise of democracy; therefore, there is a need for a critical conceptualization of the first principles that undergird American democracy and the genesis of democratic social change in America. This study aimed to construct a grounded theory that provides an understanding of the process of American democratic social change. The result was the construction of two frameworks: the demoralization process that triggers social change, and a formal grounded (...) class='Hi'>theory that could explain democratic social change endeavors across different domains and levels of analysis. This democratic social change grounded theory answers the research question: How do the principles of the American founding documents provide an understanding of the process of American democratic social change? (shrink)

This paper presents the results of two corpus studies investigating the discourse surrounding conspiracy theories and genuine theories. The results of these studies show that conspiracy theories lack the epistemic and scientific standing characteristic of theories more generally. Instead, our findings indicate that conspiracy theories are spread in a manner that resembles the dissemination of rumors and falsehoods. Based on these empirical results, we argue that it is time for both re-engineering conspiracy theory and for relabeling "conspiracy theory". (...) We propose relabelling conspiracy theories as either "conspiracy stories" or "conspiracy narratives" to more accurately convey their true nature. (shrink)

What is the relation between science and ideology? Are they incompatible, complementary or the same thing? Should science avoid “contamination” from ideology? Is there an only way to do science? Does anyone of them lead to the same results and give us the same worldview? We will focus on the figure of Alexander Bogdanov, Russian physician and philosopher, in order to discuss these and other relevant topics. His theories gave birth to what may be called later “the theory of (...) two sciences”, which entitles this work. (shrink)

Decision theory has at its core a set of mathematical theorems that connect rational preferences to functions with certain structural properties. The components of these theorems, as well as their bearing on questions surrounding rationality, can be interpreted in a variety of ways. Philosophy’s current interest in decision theory represents a convergence of two very different lines of thought, one concerned with the question of how one ought to act, and the other concerned with the question of what (...) action consists in and what it reveals about the actor’s mental states. As a result, the theory has come to have two different uses in philosophy, which we might call the normative use and the interpretive use. It also has a related use that is largely within the domain of psychology, the descriptive use. This essay examines the historical development of decision theory and its uses; the relationship between the norm of decision theory and the notion of rationality; and the interdependence of the uses of decision theory. (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)

We have a variety of different ways of dividing up, classifying, mapping, sorting and listing the objects in reality. The theory of granular partitions presented here seeks to provide a general and unified basis for understanding such phenomena in formal terms that is more realistic than existing alternatives. Our theory has two orthogonal parts: the first is a theory of classification; it provides an account of partitions as cells and subcells; the second is a theory of (...) reference or intentionality; it provides an account of how cells and subcells relate to objects in reality. We define a notion of well-formedness for partitions, and we give an account of what it means for a partition to project onto objects in reality. We continue by classifying partitions along three axes: (a) in terms of the degree of correspondence between partition cells and objects in reality; (b) in terms of the degree to which a partition represents the mereological structure of the domain it is projected onto; and (c) in terms of the degree of completeness with which a partition represents this domain. (shrink)

Software application ontologies have the potential to become the keystone in state-of-the-art information management techniques. It is expected that these ontologies will support the sort of reasoning power required to navigate large and complex terminologies correctly and efficiently. Yet, there is one problem in particular that continues to stand in our way. As these terminological structures increase in size and complexity, and the drive to integrate them inevitably swells, it is clear that the level of consistency required for such navigation (...) will become correspondingly difficult to maintain. While descriptive semantic representations are certainly a necessary component to any adequate ontology-based system, so long as ontology engineers rely solely on semantic information, without a sound ontological theory informing their modeling decisions, this goal will surely remain out of reach. In this paper we describe how Language and Computing nv (L&C), along with The Institute for Formal Ontology and Medical Information Sciences (IFOMIS), are working towards developing and implementing just such a theory, combining the open software architecture of L&C’s LinkSuiteTM with the philosophical rigor of IFOMIS’s Basic Formal Ontology. In this way we aim to move beyond the more or less simple controlled vocabularies that have dominated the industry to date. (shrink)

This paper argues that we should replace the common classification of theories of welfare into the categories of hedonism, desire theories, and objective list theories. The tripartite classification is objectionable because it is unduly narrow and it is confusing: it excludes theories of welfare that are worthy of discussion, and it obscures important distinctions. In its place, the paper proposes two independent classifications corresponding to a distinction emphasised by Roger Crisp: a four-category classification of enumerative theories (about which items constitute (...) welfare), and a four-category classification of explanatory theories (about why these items constitute welfare). (shrink)

The topic of a priori knowledge is approached through the theory of evidence. A shortcoming in traditional formulations of moderate rationalism and moderate empiricism is that they fail to explain why rational intuition and phenomenal experience count as basic sources of evidence. This explanatory gap is filled by modal reliabilism -- the theory that there is a qualified modal tie between basic sources of evidence and the truth. This tie to the truth is then explained by the (...) class='Hi'>theory of concept possession: this tie is a consequence of what, by definition, it is to possess (i.e., to understand) one’s concepts. A corollary of the overall account is that the a priori disciplines (logic, mathematics, philosophy) can be largely autonomous from the empirical sciences. (shrink)

This chapter presents a new argument for thinking of traditional ethical theories as methods that can be used in first-order ethics - as a kind of deliberation procedures rather than as criteria of right and wrong. It begins from outlining how ethical theories, such as consequentialism and contractualism, are flexible frameworks in which different versions of these theories can be formulated to correspond to different first-order ethical views. The chapter then argues that, as a result, the traditional ethical theories cannot (...) be evaluated in terms of their truth or correctness. Instead, I will suggest that these theories should be understood as providing different kind of ways of thinking about difficult moral problems. I then recommend a certain form of pragmatic pluralism - it may well be that different moral problems are better approached through different ethical theories. (shrink)

Lipsey and Lancaster's "general theory of second best" is widely thought to have significant implications for applied theorizing about the institutions and policies that most effectively implement abstract normative principles. It is also widely thought to have little significance for theorizing about which abstract normative principles we ought to implement. Contrary to this conventional wisdom, I show how the second-best theorem can be extended to myriad domains beyond applied normative theorizing, and in particular to more abstract theorizing about the (...) normative principles we should aim to implement. I start by separating the mathematical model used to prove the second-best theorem from its familiar economic interpretation. I then develop an alternative normative-theoretic interpretation of the model, which yields a novel second best theorem for idealistic normative theory. My method for developing this interpretation provides a template for developing additional interpretations that can extend the reach of the second-best theorem beyond normative theoretical domains. I also show how, within any domain, the implications of the second-best theorem are more specific than is typically thought. I conclude with some brief remarks on the value of mathematical models for conceptual exploration. (shrink)

Conspiracy theories are often portrayed as unwarranted beliefs, typically supported by suspicious kinds of evidence. Yet contemporary work in Philosophy argues provisional belief in conspiracy theories is at the very least understandable---because conspiracies occur---and that if we take an evidential approach, judging individual conspiracy theories on their particular merits, belief in such theories turns out to be warranted in a range of cases. -/- Drawing on this work, I examine the kinds of evidence typically associated with conspiracy theories, and show (...) how the so-called evidential problems with conspiracy theories are also problems for the kinds of evidence put forward in support of other theories. As such, if there is a problem with the conspiracy theorist's use of evidence, it is one of principle: is the principle which guides the conspiracy theorist's use of evidence somehow in error? I argue that whatever we might think about conspiracy theories generally, there is no prima facie case for a scepticism of conspiracy theories based purely on their use of evidence. (shrink)