Socially responsible investing (SRI) is the practice of making investment decisions on the basis of both financial and social performance. The SRI movement has grown into a $1.185 trillion business, accounting for about 1 in 10 U.S. invested dollars. Not surprisingly, the industry has suffered severe growing pains along the way in the form of issues of credibility, demand, and performance. And, to date, the product itself has been limited to equity investing. This article explores these critical issues and whether (...) socially screened bonds can perform as well as or better than unscreened bonds. If so, whole new sets of opportunities are open to the social investor bent on making a buck and a difference. (shrink)

You would be hard-pressed to find someone who categorically opposes protecting the environment, yet most people would agree that the environmentalist movement has been ineffectual and even misguided. Some argue that its agenda is misplaced, oppressive, and misanthropic—a precursor to intrusive government, regulatory bungles, and economic stagnation. Others point out that its alarmist rhetoric and preservationist solutions are outdated and insufficient to the task of galvanizing support for true reform. In this impassioned and judicious work, R. Bruce Hull argues (...) that environmentalism will never achieve its goals unless it sheds its fundamentalist logic. The movement is too bound up in polarizing ideologies that pit humans against nature, conservation against development, and government regulation against economic growth. Only when we acknowledge the infinite perspectives on how people should relate to nature will we forge solutions that are respectful to both humanity and the environment. Infinite Nature explores some of these myriad perspectives, from the scientific understandings proffered by anthropology, evolution, and ecology, to the promise of environmental responsibility offered by technology and economics, to the designs of nature envisioned in philosophy, law, and religion. Along the way, Hull maintains that the idea of nature is social: in order to reach the common ground where sustainable and thriving communities are possible, we must accept that many natures can and do exist. Incisive, heartfelt, and brimming with practical solutions, Infinite Nature brings a much-needed and refreshing voice to the table of environmental reform. (shrink)

We address three issues regarding the relationship between political party affiliation and returns in the equities markets, as measured by the NYSE Composite Index and its sub-indexes. First, we find a tendency for returns to be greater during Democratic presidential administrations; however, this result is statistically insignificant. Second, we conclude that returns during the last two years of presidential administrations are greater than during the first two years. Third, we examine the relationship between the majority party in each house of (...) Congress and equity returns. We raise the possibility that party affiliation of Congress is a factor in explaining returns. (shrink)

A collection of critical essays by English and American scholars, including such controversial academic political theorists as Gutmann, Barry and Nussbaum, that raises questions about the current theoretical reassessment of political liberalism.

The drastically increasing availability ofmodern computers coupled with the equally drasticallylower cost of a given amount of computer power inrecent years has resulted in the evolution of thetraditional experimental/theoretical dichotomy inchemistry into anexperimental/theoretical/computational trichotomy. This trichotomy can be schematically represented by atriangle with experimental,theoretical, and computational chemistry at the threevertices. The ET and EC edges of the ETC triangledepict the uses of theoretical and computationalchemistry, respectively, to predict and interpretexperimental results. The TC edge depicts therelationship between theoretical and computationalchemistry. Mathematics (...) plays an increasing role in allaspects of chemistry, particularly theoreticalchemistry, and has led to the evolution of thediscipline of mathematical chemistry. Research inmathematical chemistry can be considered to lie on achemistry-mathematics continuum depending on therelative depths of the underlying chemistry andmathematics. Examples of the author's own researchlying near each end of the chemistry-mathematicscontinuum include his work on applications of graphtheory and topology in inorganic coordination andcluster chemistry lying near the chemistry end and hiswork on chirality algebra lying near the mathematicsend. The general points in this essay are illustratedby an analysis of the roles of computational andtheoretical chemistry in developing an understandingof structure and bonding in deltahedral boranes andrelated carboranes. This work has allowed extensionof the concept of aromaticity from two dimensions asin benzene and other planar hydrocarbons to the thirddimension in deltahedral boranes. (shrink)

Business schools are slowly waking up to the reality that most of the products and services discussed in management curricula serve a small portion of humanity. A small number of business schools has begun to address businesses designed to meet the needs of the poor (the so called “base of the pyramid”) in business in society courses or in dedicated elective courses. As the world heads into an era defined by pervasive uncertainty, perhaps a business mindset focusing on management in (...) the face of inherent unpredictability is a better model for reflecting on business in society. Effectuation theory describes a decision process employed by entrepreneurs and the poor that differs substantially from the rational choice paradigm that dominates management education. This theory of problem solving that views the environment as constructible by choice in the face of pervasive uncertainty may be a better foundation for theories of business insociety than existing frameworks. (shrink)

Both similarities and differences were observed when comparing scenic beauty evaluations of rural landscapes made by persons from different cultures. Differences seem due to the westernized tourists' misinterpretation or ignorance of the meaning associated with certain landscape features by the Balinese. This implies scenic beauty is dependent upon meanings assigned to landscape features, which in turn implies that scenic beauty is, to some extent, learned. Similarities between tourists' and Balinese' scenic evaluations are significant and correspond to consistencies found in other (...) landscape preference studies. Multiple methods were used, including participant photography, rating scales, and a variety of statistical analyses. A review of the literature reveals evidence and theory which suggests both similarities and differences are to be expected when comparing scenic evaluations made by persons of different cultures. This review also suggests three methodological concerns which should be addressed in landscape studies: a concern for the participant's purpose for evaluating a landscape; a concern for the participant's familiarity with a landscape; and a concern for the criterion's appropriateness to all participants. Research designs which ignore these concerns may mask true cultural differences. (shrink)

The bottom of the pyramid (BOP) concept suggests that business has a vital role to play in meeting the unmet needs of the 4 billion poorest people on the planet. Serious advances in research on bottom of the pyramid business will require effective evaluation of the social impacts these businesses are having on the people they are supposed to benefit. Evaluation will allow us to identify conditions in which specific business interventions can address unmet needs fairly and effectively. Theory-driven evaluation (...) offers an approach to assessing the successes and limitations of BOP businesses by exploring why a venture does or does not achieve its social objectives. The experience of AIG Uganda in the microinsurance business illustrates the insights possible from applying theory-driven evaluation. (shrink)

The terms used to describe and negotiate environmental quality are both ambiguous and value-laden. Stakeholders intimately and actively involved in the management of forested lands were interviewed and found to use ambiguous, tautological, and value-laden definitions of terms such as health, biodiversity, sustainability, and naturalness. This confusing language hinders public participation efforts and produces calls to regulate and remove discretion from environmental professionals. Our data come from in-depth interviews with environmental management professionals and other stakeholders heavily vested In negotiating the (...) fate of forested lands. We contend that environmental science and management will be more effective if its practitioners embrace and make explicit these ambiguous and evaluative qualities rather than ignore and disguise them. (shrink)

Here’s a problem that any reliability theory must face, whether it’s one that holds that beliefs are justified just when they’re products of belief-forming mechanisms with the potential of having good records of yielding true beliefs, or one that holds that a belief meets the standards for knowledge if and only if its causal basis rules out any relevant chance of mistake. The problem is made evident when cast in probabilistic terms. Let r be S’s reason for tokening the true (...) belief that p under conditions c. Then, according to reliabilism, Sis justified in believing that p under c iff r makes it sufficiently probable that p, whileS knows that p iff the conditional probability that p on r and c is unity. But how do we specify the belief context c to be counted as epistemically relevant? As urged recently by John Pollock, on the face of it there seems to be no principled reason for excluding mention of the truth value of the proposition believed. As he says, ‘The only obvious way to construct an objective non-epistemic kind of definite probability is to make it conditional on everything that is true [at the belief’s tokening]’ ; and, as he notes, ‘one feature of the present circumstances is a characterization of the belief as a belief in [p ], and another feature is the truth value of [p]’. But if we allow both the belief token and its truth value membership in the relevant belief context, we then have the hopeless task of explaining how the probability of the token’s being true can be anything but one or zero, one if what is believed is true, and zero if it’s false. This in tum would commit reliabilism to the foolish doctrines that a belief’s truth is sufficient for knowledge, while no false belief is ever even justified. No wonder, then, that Pollock says ‘there is no way to construct an intelligible notion of reliability which does the job required by the reliabilist’. And he is surely right in this: Neither knowledge nor justification can be explained as the chance of a belief’s being true if the relevant belief context is required to mention both the belief tokened and its truth value. We would be engaged in a comparably pointless task were we to try to explain the likelihood of a wager’s being a good bet on a horse race when we had to include among the givens both which horse was picked and its finish, or were we to try to make sense of the assertion that a theory’s predictions have a good chance of being true when both what the theory predicts and its outcome had to be included among the givens. (shrink)

This paper examines an important issue facing academia-pay inversion. It discusses how inversion is accompanied by ethical issues including secrecy, moral dilemmas for faculty, honesty, and keeping promises. It then examines this issue from five ethical viewpoints: a legalistic perspective, ethical egoism, utilitarianism, distributive justice, and Kants deontological approach. As part of the discussion, the effect of the moral philosophy on the universitys corporate culture is examined, with attention given to morale and productivity. Finally, alternatives to pay inversion that universities (...) may want to consider are discussed. (shrink)

A reduction of chromosome number in meiosis is essential for genome transmission in diploid organisms. Reduction depends on a change in kinetochore configuration.1 A recent study2 connects changes in kinetochores with other changes in chromosome structure and raises the intriguing possibility that topoisomerase II, the DNA untangling enzyme, is involved. BioEssays 25:309–312, 2003. © 2003 Wiley Periodicals, Inc.

Ecological restoration is an inherently challenging endeavour. Not only is its underlying science still developing, but the concept itself raises complex questions about nature, culture and the role of humans in the landscape.

Holistic Learning is designed as a practical guide for teachers on how to integrate curriculum around human processes and human themes. Specifically, problem solving (human process) and mythology (human theme) have been selected as vehicles for curriculum integration. Along with a number of specific strategies for classroom use, the book includes a rationale and framework for integrated studies, teaching approaches in problem solving and mythology, guidelines for writing units in integrated studies, and implementation strategies for integrated studies. The primary audience (...) is teachers at the intermediate and senior levels, although muc of the material is applicable to teachers at all levels of the curriculum. Individuals in curriculum leadership positions (e.g., principals, co-ordinators, and superintendents) should also find the work of interest. Holistic Learning is a practical guide for teachers seeking approaches to integrate diverse subject matter. (shrink)

This study investigates financial correlates of corporate philanthropy in Fortune 1000 companies using structural equation modeling. The results suggest that cash flow (one of the most discretionary types of organizational slack) has a significant impact on a firm’s cash donations to charitable causes, but monetary donations do not affect firm financial performance. These findings support the accepted view of corporate philanthropy as a discretionary social responsibility and the traditional thinking about firm giving in the business and society literature—that doing well (...) enables doing good. Contrary to some contemporary thinking, the findings imply no significant effect on profits from corporate generosity. (shrink)

In a recent article in Religious Studies, Professor P. W. Gooch attempts to wean the orthodox Christian from anthropological materialism by consideration of the question of the nature of the post-mortem person in the resurrection. He argues that the view that the resurrected person is a psychophysical organism who is in some physical sense the same as the ante-mortem person is inconsistent with the Pauline view of the resurrected body; rather, according to him, Paul's view is most consistent with that (...) which affirms the disembodied survival of the person. ‘I want to argue’, he writes, ‘for the thesis that a Pauline resurrection body may well be ontologically the same as a disembodied person.’ I intend to show that Professor Gooch has failed to provide any support for this view and indeed that his own view falls prey to the criticisms which he has raised against other views. (shrink)

Moral and legal responsibility is diminished in neuropsychiatric patients who lack the capacity to use reasoning to determine morally appropriate behavior. Patients with behavioral-variant frontotemporal dementia (bvFTD), however, develop immoral behaviors as a result of their disease despite the ability to explicitly state that their behavior is wrong. In order to determine whether bvFTD patients should be held responsible for their immoral behavior, we begin by discussing the philosophical concepts of free will, determinism, and responsibility. Those who believe in both (...) determinism and free will are called compatibilists. We argue that reason-responsiveness, a specific type of compatibilism, cannot fully determine responsibility in bvFTD patients if reason-responsiveness is considered to be a single, unified concept. Instead, we argue that several different neuropsychological capacities, including many that are impaired in bvFTD patients, contribute to a patient's ability to respond to certain reasons in specific situations. Finally, we propose a new framework for understanding reason-responsiveness, using case examples to illustrate how this model can be used to determine responsibility in neuropsychiatric patients. (shrink)

It is generally accepted that appropriate documentation of activities and recommendations of ethics consultants in patients’ medical records is critical. Despite this acceptance, the bioethics literature is largely devoid of guidance on key elements of an ethics chart note, the degree of specificity that it should contain, and its stylistic tenor. We aim to provide guidance for a variety of persons engaged in clinical ethics consultation: new and seasoned ethics committee members who are new to ethics consultation, students and trainees (...) in clinical ethics, and those who have significant experience with ethics consultation so that they can reflect on their practice. Toward the goal of promoting quality charting practices in ethics consultations, we propose recommendations on a broad array of questions concerning clinical ethics consultation chart notes, including whether and when to write a chart note, and practical considerations for the tenor, purpose, and content of a chart note. Our broader aim is to promote discussion about good charting practices in clinical ethics, with the hope of contributing to clear standards of excellence in clinical ethics consultation. (shrink)

This paper reports an analysis of the content of the codes of ethics of 15 professional business organizations in the United States, representing the broad range of disciplines found in business. The analysis was conducted to identify common ethical issues faced by business professionals. It was also structured to highlight ethical issues that are either unique to or of particular importance for business professionals. No attempt is made to make value judgments about either the codes of ethics studied or of (...) their content. General ethical values identified include honesty and integrity, general legal compliance, discreditable or harmful acts, and obligations related to social values. More business-specific issues include confidentiality, responsibilities to employers/clients, obligations to the profession, independence and objectivity, and business-specific legal and technical compliance issues. (shrink)

The forestry profession has no offical policy on forest aesthetics: Neither foresters nor the public have clear guidelines as to what a socially acceptable, actively managed forest should lookl ike. Hints of an impplicit policy can be found in the Society of American Foresters position statements on timber harvesting and in various recommendations for best management practices found in state, federal, and industrial forestry publications. These implicit policies may send a hypocritical message to the public about the practice, intent, and (...) ethics of forestry. (shrink)

A great deal of interest in codes of ethics exists in both the business community and the academic community. Within the academic community, this interest has given rise to a number of studies of codes of ethics. Many of these studies have focused on the content of various codes.One important way the study of codes of ethics can be advanced is by applying formal tools of analysis to codes of ethics. An understanding of important dimensions that may differ across codes (...) of ethics, a common terminology to describe these dimensions, and a means to measure these dimensions will facilitate applying such tools. They will also facilitate discussion, enable comparisons, and advance our understanding of codes of ethics. The present paper describes a classification scheme to use in studying codes of ethics. This scheme uses six important dimensions to distinguish among codes of ethics: length, focus, level of detail, shape, thematic content, and tone. The paper also introduces metrics that can be used to measure the dimensions. (shrink)

This anthology discusses important issues surrounding environmental law and economics and provides an in-depth analysis of its use in legislation, regulation and legal adjudication from a neoclassical and behavioural law and economics perspective. Environmental issues raise a vast range of legal questions: to what extent is it justifiable to rely on markets and continued technological innovation, especially as it relates to present exploitation of scarce resources? Or is it necessary for the state to intervene? Regulatory instruments are available to create (...) and maintain a more sustainable society: command and control regulations, restraints, Pigovian taxes, emission certificates, nudging policies, et cetera If regulation in a certain legal field is necessary, which policies and methods will most effectively spur sustainable consumption and production in order to protect the environment while mitigating any potential negative impact on economic development? Since the related problems are often caused by scarcity of resources, economic analysis of law can offer remarkable insights for their resolution. Part I underlines the foundations of environmental law and economics. Part II analyses the effectiveness of economic instruments and regulations in environmental law. Part III is dedicated to the problems of climate change. Finally, Part IV focuses on tort and criminal law. The twenty-one chapters in this volume deliver insights into the multifaceted debate surrounding the use of economic instruments in environmental regulation in Europe. (shrink)