ABSTRACT Capital regulations stemming from the Basel accords created incentives for banks to securitize mortgages, even risky ones; hold them at a correspondingly low Basel risk weight; or shift them off of banks' balance sheets to obtain even greater leverage. Securitization was praised by economists and regulators for dispersing risks to investors across the world, providing greater resilience to the financial system. However, since in reality banks tended to hold onto securitized assets—either on their balance sheets or off of them, (...) in off‐balance‐sheet entities—the accumulated credit risk remained with the banks, especially in the “shadow banking sector.” This explains the heightened vulnerability of the financial system to a sudden collapse. (shrink)

Research programmes are sets of problems preferred on epistemic grounds and including preferred heuristics for inquiry. Charles Lyell's research programme for biogeograpy includes the problem of explaining the distribution of species constrained by laws governing locomotion and containment of species. Included in the programme are laws governing the supernatural introduction of replacement species. Wallace and Darwin derected arguments against the putative intelligibility of this aspect of Lyell's programme before discovering natural selection, and their defence, at this time of natural laws (...) governing the introduction of new species is interesting as a defence of a noval programme of research, not a defence of a proposed theroy. These arguments are presented and an epistemological foundation is offered for them. 1 The author is indebted to a referee for helpful comments on an earlier draft of this paper. (shrink)

Integrated Information Theory is one of the leading models of consciousness. It aims to describe both the quality and quantity of the conscious experience of a physical system, such as the brain, in a particular state. In this contribution, we propound the mathematical structure of the theory, separating the essentials from auxiliary formal tools. We provide a definition of a generalized IIT which has IIT 3.0 of Tononi et al., as well as the Quantum IIT introduced by Zanardi et al. (...) as special cases. This provides an axiomatic definition of the theory which may serve as the starting point for future formal investigations and as an introduction suitable for researchers with a formal background. (shrink)

General relativity cannot be formulated as a perturbatively renormalizable quantum field theory. An argument relying on the validity of the Bekenstein–Hawking entropy formula aims at dismissing gravity as non-renormalizable per se, against hopes that d-dimensional GR could turn out to have a non-perturbatively renormalizable d–dimensional quantum field theoretic formulation. In this note we discuss various forms of highly problematic semi-classical extrapolations assumed by both sides of the debate concerning what we call The Entropy Argument, and show that a large class (...) of dimensional reduction scenarios leads to the blow-up of Bekenstein–Hawking entropy. (shrink)

Several promising approaches have been developed to represent conscious experience in terms of mathematical spaces and structures. What is missing, however, is an explicit definition of what a ‘mathematical structure of conscious experience’ is. Here, we propose such a definition. This definition provides a link between the abstract formal entities of mathematics and the concreta of conscious experience; it complements recent approaches that study quality spaces, qualia spaces, or phenomenal spaces; and it provides a general method to identify and investigate (...) structures of conscious experience. We hope that ultimately this work provides a basis for developing a common formal language to study consciousness. (shrink)

This is an English translation of Juliusz Domański’s “Fausta Socyna Explicatio primae partis primi capitis Euangelii Ioannis i egzegeza erazmiańska,” in his "Erasmiana minora. Studia i szkice o pisarstwie filozoficznym i religijnym Erazma z Rotterdamu" (Warsaw: Instytut Tomistyczny, Instytut Filologii Klasycznej UW, 2017), 337–63. Translated with the Author’s permission. The paper compares the method of Biblical interpretation used by Erasmus of Rotterdam with the method of Socinus, raising the question of the extent to which the method outlined by Socinus (...) in his Explicatio primae partis primi capitis Euangelii Joannis can be seen as continuous and and consonant with the method of Erasmus, and to what extent it should be seen as its rejection or modification. In addition, the essay outlines similarities and differences, with respect to both method and content, between Erasmus' Adnotationes and Socinus’ Explicatio. (shrink)

This volume presents the _Enchiridion_ and the _Exomologesis_, two core texts of Erasmian theology. Ce volume présente l’Enchiridion et l’Exomologesis, deux textes fondementaux de la théologie érasmienne.

I discuss candidates for definitions of determinism in the context of general relativistic spacetimes, and argue that a definition which does not make recourse to any particular region of spacetime should be preferred over alternatives; one such notion is discussed in detail in the light of various physical examples. The emerging picture of determinism is a pluralist one: sometimes there is no unique way of making our intuitive concept of determinism precise. Instead, what is crucial for assessment of determinism of (...) the theory are auxiliary conditions under which it counts as deterministic or indeterministic, and justification for using them in a given situation. (shrink)

Determinism fails easily if spacetimes with points removed from the spacetime manifold are taken to be physically reasonable representations of a way the world could be according to classical general relativity. I discuss a recently proposed condition for determining which spacetimes have holes—epistemic hole freeness—and show that epistemic hole freeness gives the correct verdict in some non-globally hyperbolic spacetimes with a closed subset removed, certain spacetimes with genuinely indeterministic features count as having an epistemic hole, which implies that the requirement (...) of epistemic hole freeness enforces a form of determinism, and there is a large class of spacetimes that intuitively are radically indeterministic and unphysical due to containing a hole, but are free from epistemic holes. I show that a few natural ways of remedying are not satisfactory. (shrink)

Recent activities in virtually all fields engaged in consciousness studies indicate early signs of a structural turn, where verbal descriptions or simple formalisations of conscious experiences are replaced by structural tools, most notably mathematical spaces. My goal here is to offer three comments that, in my opinion, are essential to avoid misunderstandings in these developments early on. These comments concern metaphysical premises of structural approaches, the viability of structure-preserving mappings, and the question of what a structure of conscious experience is (...) in the first place. I will also explain what, in my opinion, are the great promises of structural methodologies and how they might impact consciousness science at large. (shrink)

Taking as a background the Plato’s model of two worlds and some categories closely associated with it, the author describes three paradigms: Tradition, Reception and Renaissance. They are linked with the human condition as means by which humans, or rather: human communities try to overcome their changeable and temporal existence.