ABSTRACT:Many scholars and managers endorse the idea that the primary purpose of the firm is to make money for its owners. This shareholder wealth maximization objective is justified on the grounds that it maximizes social welfare. In this article, the first of a two-part set, we argue that, although this shareholder primacy model may have been appropriate in an earlier era, it no longer is, given our current state of economic and social affairs. To make our case, we employ a (...) utilitarian moral standard and examine the apparent logical sequence behind the link between shareholder wealth maximization and social welfare. Upon close empirical and conceptual scrutiny, we find that utilitarian criteria do not support the shareholder model; that is, shareholder wealth maximization is only weakly linked to social welfare maximization. In view of the dubious validity of this sequential argument, we outline some of the features of a superior corporate objective—a variant of normative stakeholder theory. In the second article, we will advance and defend our preferred alternative and then discuss some institutional arrangements under which it could be implemented. (shrink)

This paper is reprinted in the book Machine Ethics, eds. M. Anderson and S. Anderson, Cambridge University Press, 2011.

Thomas Aquinas produced a voluminous body of work on moral theory, and much of that work is on virtue, particularly the status and value of the virtues as principles of virtuous acts, and the way in which a moral life can be organized around them schematically. Thomas Osborne presents Aquinas's account of virtue in its historical, philosophical and theological contexts, to show the reader what Aquinas himself wished to teach about virtue. His discussion makes the complexities of Aquinas's (...) moral thought accessible to readers despite the differences between Thomas's texts themselves, and the distance between our background assumptions and his. The book will be valuable for scholars and students in ethics, medieval philosophy, and theology. (shrink)

Internalism about epistemic justification (henceforth, ‘internalism’) says that a belief B is epistemically justified for S only if S is aware of some good-making feature of B, some feature that makes for B’s having positive epistemic status: e.g., evidence for B. Externalists with respect to epistemic justification (‘externalists’) deny this awareness requirement. Michael Bergmann has recently put this dilemma against internalism: awareness admits of a strong and a weak construal; given the strong construal, internalism is subject to debilitating regress troubles; (...) given the weak construal, internalism is unmotivated; either way, internalism is in serious trouble. I argue for two claims in this article. First, Bergmann’s dilemma argument is unmotivated: he’s given no good reason for accepting one of its crucial premises. And second, Bergmann’s dilemma argument is unsound: the crucial premise in question is false. (shrink)

A consideration of the full dimensions of humanism and of the humanist dimension of law invites two questions: is “humanism” compatible with theocentric religion, and therefore, is the Renaissance compatible with the “otherworldly” Middle Ages, and, has law any humanist dimension at all? The answer to the first question provides the insights that answer the second. Fully integrated humanism includes bath the Classical immanence of humanity in the world and the value accorded to the human being by the declaration in (...) Genesis that all creation is “very good”, a principle reinforced by the Incarnation of the Logos as a man. Understood in the full range of its human relevance, from the quotidian to the transcendent, law too bas a humanist dimension. (shrink)

A critical but sympathetic treatment of Pierre Bayle.

_Metaphysics: A Contemporary Introduction_ is for students who have already completed an introductory philosophy course and need a fresh look at the central topics in the core subject of metaphysics. It is essential reading for any student of the subject. This Fourth Edition is revised and updated and includes two new chapters on Parts and Wholes, and Metaphysical Indeterminacy or vagueness. This new edition also keeps the user-friendly format, the chapter overviews summarizing the main topics, concrete examples to clarify difficult (...) concepts, annotated further reading at the end of each chapter, endnotes, and a full bibliography. Topics addressed include: the problem of universals the nature of abstract entities the problem of individuation the nature of modality identity through time the nature of time the nature of parts and wholes the problem of metaphysical indeterminacy the Realism/anti-Realism debate. Wherever possible, Michael J. Loux and Thomas M. Crisp relate contemporary views to their classical sources in the history of philosophy. As experienced teachers of philosophy and important contributors to recent debates, Loux and Crisp are uniquely qualified to write this book. (shrink)

This volume comprises essays presented to Alvin Plantinga on the occasion of his 70th birthday.

Incompatibilism about freedom and causal determinism is commonly supported by appeal to versions of the well known Consequence argument. Critics of theConsequence argument have presented counterexamples to the Consequence argument’s central inference principle. The thesis of this article is that proponents of the Consequence argument can easily bypass even the best of these counterexamples.

This volume commemorates the 6th centennial of the birth of Nicholas of Cusa (1401-1464), a Renaissance polymath whose interests included law, politics, metaphysics, epistemology, theology, mysticism and relations between Christians and non-Christian peoples. The contributors to this volume reflect Cusanus' multiple interests; and, by doing so they commemorate three deceased luminaries of the American Cusanus Society: F. Edward Cranz, Thomas P. McTighe and Charles Trinkaus. Contributors include: Christopher M. Bellitto, H. Lawrence Bond, Elizabeth Brient, Louis Dupré, Wilhelm Dupré, Walter (...) Andreas Euler, Lawrence Hundersmarck, Thomas M. Izbicki, Dennis D. Martin, Yelena Matusevich, Bernard McGinn, Clyde Lee Miller, Thomas E. Morrissey, Brian A. Pavlac, and Morimichi Watanabe. Publications by Charles Trinkaus: - Edited by C. Trinkaus and H.A. Oberman, The pursuit of holiness in late medieval and renaissance religion, ISBN: 978 90 04 03791 5 (Out of print). (shrink)

We compared the ability of three different contextual models of lexical semantic memory and of a simple associative model to predict the properties of semantic networks derived from word association norms. None of the semantic models were able to accurately predict all of the network properties. All three contextual models over-predicted clustering in the norms, whereas the associative model under-predicted clustering. Only a hybrid model that assumed that some of the responses were based on a contextual model and others on (...) an associative network successfully predicted all of the network properties and predicted a word's top five associates as well as or better than the better of the two constituent models. The results suggest that participants switch between a contextual representation and an associative network when generating free associations. We discuss the role that each of these representations may play in lexical semantic memory. Concordant with recent multicomponent theories of semantic memory, the associative network may encode coordinate relations between concepts, and contextual representations may be used to process information about more abstract concepts. (shrink)

I argue that Diego Alvarez and Thomas de Lemos through their participation in the De auxiliis controversy developed and defended Cajetan’s view of the causation of sin in such a way that they were able to defend the predetermination of the material aspect of sin while at the same time assimilating important aspects from his critics. It is important to recognize that Lemos and his associates hold both that the premotion of sin’s material aspect is not necessarily connected with (...) the Catholic faith and that it is knowable by natural reason. Even though they argued that other Molinist theses should be condemned as heretical, they held that this rejection of the Dominican thesis concerning sin is simply wrong but not heretical. First, I consider Cajetan’s position. Second, I consider the reception of this position by Medina, Zumel, and Báñez. Third, I show that Alvarez and Lemos make distinctions that allow them to incorporate the insights of both Cajetan and his critics. (shrink)

" Our various cultures are symbolic environments or "spiritual ecologies" within which the Human Eros can thrive. This is how we inhabit the earth. Encircling and sustaining our cultural existence is nature.

: Given Descartes's conception of extension, space and body, there are deep problems about how there can be any real motion. The argument here is that in fact Descartes takes motion to be only phenomenal. The paper sets out the problems generated by taking motion to be real, the solution to them found in the Cartesian texts, and an explanation of those texts in which Descartes appears on the contrary to regard motion as real.

Knobe reports that subjects' judgments of whether an agent did something intentionally vary depending on whether the outcome in question was seen by them as good or as bad. He concludes that subjects' moral views affect their judgments about intentional action. This conclusion appears to follow only if different meanings of “intention” are overlooked.

In this paper I respond to separate criticisms by Bill Shaw (JBE, July 1988) and Richard Nunan (JBE, December 1988) of my paper A Critique of Milton Friedman's Essay The Social Responsibility of Business Is to Increase Its Profits (JBE, August 1986). Professors Shaw and Nunan identify several points where my argument could benefit from clarification and improvement. They also make valuable contributions to the discussion of the broad issue area of whether and to what extent business should exercise moral (...) initiative.My objectives are (1) to show, with the aid of examples (inspired by Shaw) and the addition of one point of correction (inspired by Nunan), that my disapproving critique of Friedman's famous argument remains sound, (2) to show that Professor Shaw's argument contains serious problems, and (3) to build on the base laid by my critics by developing important reasons why business should exercise moral initiative. (shrink)

This paper ties together three threads of discussion about the following question: in accepting a system of axioms S, what else are we thereby warranted in accepting, on the basis of accepting S? First, certain foundational positions in the philosophy of mathematics are said to be epistemically stable, in that there exists a coherent rationale for accepting a corresponding system of axioms of arithmetic, which does not entail or otherwise rationally oblige the foundationalist to accept statements beyond the logical consequences (...) of those axioms. Second, epistemic stability is said to be incompatible with the implicit commitment thesis, according to which accepting a system of axioms implicitly commits the foundationalist to accept additional statements not immediately available in that theory. Third, epistemic stability stands in tension with the idea that in accepting a system of axioms S, one thereby also accepts soundness principles for S. We offer a framework for analysis of sets of implicit commitment which reconciles epistemic stability with the latter two notions, and argue that all three ideas are in fact compatible. (shrink)

Time-limited trials of intensive care have arisen in response to the increasing demand for intensive care treatment for patients with a low chance of surviving their critical illness, and the clinical uncertainty inherent in intensive care decision-making. Intensive care treatment is reported by most patients to be a significantly unpleasant experience. Therefore, patients who do not survive intensive care treatment are exposed to a negative dying experience. Time-limited trials of intensive care treatment in patients with a low chance of surviving (...) have both a small chance of benefiting this patient group and a high chance of harming them by depriving them of a good death. A ‘rule of rescue’ for the critically unwell does not justify time-limiting a trial of intensive care treatment and overlooks the experiential costs that intensive care patients face. Offering time-limited trials of intensive care to all patients, regardless of their chance of survival, overlooks the responsibility of resource-limited intensive care clinicians for suffering caused by their actions. A patient-specific risk–benefit analysis is vital when deciding whether to offer intensive care treatment, to ensure that time-limited trials of intensive care are not undertaken for patients who have a much higher chance of being harmed, rather than benefited by the treatment. The virtue ethics concept of human flourishing has the potential to offer additional ethical guidance to resource-limited clinicians facing these complex decisions, involving the balancing of a quantifiable survival benefit against the qualitative suffering that intensive care treatment may cause. (shrink)

Can the phenomena of the human mind be separated from the practices of spiritual formation? Research into the nature of moral and spiritual change has revived in recent years in both the worlds of psychology and theology. Rooted in a year-long discussion held by Biola University's Center for Christian Thought (CCT), this volume bridges the gaps caused by professional specialization among psychology, theology, and philosophy.

Beginning with the well-knowncyber-rape in LambdaMOO, I argue that it ispossible to have real moral wrongs in virtualcommunities. I then generalize the account toshow how it applies to interactions in gamingand discussion communities. My account issupported by a view of moral realism thatacknowledges entities like intentions andcausal properties of actions. Austin's speechact theory is used to show that real people canact in virtual communities in ways that bothestablish practices and moral expectations, andwarrant strong identifications betweenthemselves and their online identities. Rawls'conception (...) of a social practice is used toanalyze the nature of the wrong and thestage-setting aspect of engaging in a practice. (shrink)

In his ethical writings, Duns Scotus emphasized both divine freedom and natural goodness, and these seem to conflict with each other in various ways. I offer an interpretation of Scotus which takes seriously these twin emphases and shows how they cohere. I argue that, for Scotus, all natural laws obtain just by the natures of actual things. Divine commands, such as the Ten Commandments, contingently track natural laws but do not make natural laws to be natural laws. I present textual (...) evidence for this claim. I also show how this view of Scotus on the natural law is consistent with a number of troubling passages. Scotus’s ethical theory implies that there are genuinely moral reasons for acting which are not absolutely binding (because subject to a divine command or permission otherwise) and also some moral reasons for acting which are absolutely binding (because not thus subject). (shrink)

Some theories of goodness are descriptively rich: they have much to say about what makes things good. Neo-Aristotelian accounts, for instance, detail the various features that make a human being, a dog, a bee good relative to facts about those forms of life. Famously, such theories of relative goodness tend to be comparatively poor: they have little or nothing to say about what makes one kind of being better than another kind. Other theories of goodness—those that take there to be (...) absolute goodness—are comparatively rich: they offer grounds for judging some types of things better than others because they have more absolute goodness. Moorean accounts, for example, can tell us that humans and human experiences are superior to bees and blades of grass. But such theories tend to be descriptively poor: they struggle to tell us in virtue of what this is so. In this essay we motivate and flesh out a view that splits the difference between accounts of goodness as relative and accounts of goodness as absolute. Such a view holds promise only if the mechanics of this kind of metaphysics of goodness can be worked out. Here we present a view on which the paradigm for absolute goodness is God and the paradigm for each kind of relative goodness is a divine idea. (shrink)

This paper examines some of the metaphysical assumptions behind Aquinas’s denials that a human rational soul unites with matter at conception and that a human rational soul is capable of developing and arranging the organic parts of an embryo. The paper argues that Buridan does not share these assumptions and holds that a soul is capable of developing and arranging organic parts. It argues that, given hylomorphism about the nature of organisms, including human beings, Buridan’s view is philosophically superior to (...) Aquinas’s in several respects. Finally, the paper poses an apparent inconsistency between several of Buridan’s texts on this topic and attempts to show that the inconsistency is merely apparent. (shrink)

Robert Innis has performed an immensely valuable service for scholars in the fields of American philosophy, aesthetics, and semiotics. Not only does his comprehensive view of Susanne K. Langer’s opus show us its development, but this is the only book in English devoted solely to Langer. I hope it may help retrieve her considerable philosophical achievement from the penumbral, fading status it has today. Not only does Innis give us a close discussion of Langer’s philosophy, but he also presents a (...) running argument that she should be embraced as an “American philosopher” and semiotician who shares themes with Dewey and Peirce. This is significant insofar as Langer held herself aloof from the work of both Dewey and . (shrink)

I do not think scholars have thought hard enough about Scotus’s position that there are necessary moral truths over which God has no control. Just about everyone who writes on Scotus’s ethics has noted this position, but none has paid sufficient philosophical attention to it. It turns out that necessary moral truths are logically necessary (in Scotus’s sense of logical modalities), and the fact that they are logically necessary significantly alters how we should understand radical-sounding claims in Scotus to the (...) effect that God can do whatever is logically possible. Demonstrably, what Scotus means is that God can do whatever it is logically possible for God to do, and this class is rather smaller than the class of the logically possible simpliciter. (shrink)

This Element defends a version of the classical theory of divine ideas, the containment exemplarist theory of divine ideas. The classical theory holds that God has ideas of all possible creatures, that these ideas partially explain why God's creation of the world is a rational and free personal action, and that God does not depend on anything external to himself for having the ideas he has. The containment exemplarist version of the classical theory holds that God's own nature is the (...) exemplar of all possible creatures, and therefore that God's ideas of possible creatures are in some sense ideas of himself. Containment exemplarism offers a monotheism fit for metaphysics, insofar as it is coherent, simple, and explanatorily powerful; and offers a metaphysics fit for monotheism, insofar as it leaves God truly worthy of the unconditional worship which Christians, along with Jews and Muslims, aspire to offer to God. (shrink)

The moral permissibility of organ transplantation is taken for granted by most biomedical ethicists and practitioners. Of contemporary concern is not whether, but by what arrangements, we ought to allow organ transplantation. Should we institute markets for organs, thereby increasing their availability and saving many lives? Should organs be sold to the highest bidder? Should we allow the post mortem taking of organs without prior consent? Among moral theorists, the Kantians are suspected of being the least enthusiastic with respect to (...) these and similar questions. I will show the elements in Kant's theory that account for this lack of enthusiasm and how contemporary Kantians might answer questions about the permissibility of various arrangements for organ transplantation. I will argue that Kant would have had a permissive position on organ transplantation post mortem and a restrictive position on organ markets. These results will be based on a broader Kantian view of obligations to the body which stem from a non-formal theory of value. This non-formal theory, I will argue, is at the foundation of Kantian ethics. (shrink)

The paper has as its goal the investigation of the meaning of logos in DK frs. 1, 2, 31b, 39, 45, 50, 87, 108, and 115, with particular emphasis on frs. 1, 2 and 50. It is argued that the focal meaning of the term is ‘account’ or ‘statement’, and that the statement in question, of particular importance in frs 1, 2 and 50, it the account/statement forever being uttered by ‘that which is wise’,, Heraclitus’ divine principle. Plato picks up (...) the idea, with his notion of a World Soul which is similarly forever in a state of utterance which is a piece of self-description, and it is suggested that a modern version of the notion of the universe being in an everlasting state of such self-description is our ability to learn what it has to say by investigating the ‘language’ of radio waves and the like, which are forever being emitted by all moving systems composing the real, and thereby forever offering us a piece of the real’s self-description of itself. (shrink)