bluuebunny/crossref_metadata_2025 huggingface dataset:
Catholic Radicalism and the (Re-)Emergence of Catholic Loyalism
Authors: Questier Michael
Published: March 2022

The regime’s savagery against Catholics in the wake of the Armada campaign made, as far as the issue of recusancy was concerned, the occasional conformist position and rhetoric of Thomas Bell almost impossible. But this did not prevent fractures in the legal structures which were supposed to strike against Catholic separatism. Or, rather, there were those who were able to see an equivalence between separatist Catholicism and aspects of contemporary puritanism. This came out in the parliament of 1593 and the complex passage there of legislation against separatism, and in the fatal proceedings against notorious puritan sectaries. Through the 1590s, even as prominent Catholics were still being put on trial and executed, there were points of contact between the conformist politics associated with Richard Bancroft and the loyalist statements of some Catholics who, if they had ever been implicated in the resistance theorizing of William Allen and Robert Persons, now distanced themselves from it. Contemporaries would have seen these developments in parallel with the failure of the Holy League in France and the ralliement to the monarchy of Henry IV. To some in the regime, however, those Catholics who now moved towards a legitimist position were as much of a threat as those who publicly opposed the rights and prospects of James VI and argued instead for an overtly Catholic successor to Elizabeth. This was something which came out in several of the treason trials of Catholics at this time.
The Coming of Toleration in Late Elizabethan England?
Authors: Questier Michael
Published: March 2022

The stalemate in the fighting in France and Flanders, together with the exhaustion of the military capacity of the French and Spanish monarchies, made some sort of peace a virtual certainty. This would be the context for the accession in England of the Scots king, James VI. He would not, like Henry of Navarre, convert to Rome, but it was likely, some thought, that his rule would see a change in the relationship between Catholics and the (new) regime. There had been a rehabilitation of formerly rebel Catholics in Scotland. This coincided with the so-called Archpriest Dispute in England. This controversy was conducted via manuscripts and printed pamphlets and was technically about an issue of ecclesiastical jurisdiction. But it dealt also with some of the major contested political issues of the moment, including whether the regime was persecuting good (Catholic) Christians. It was a debate conducted in part through the regime’s continuing resort to the law of treason and the resulting dumbshow of the scaffold, which this chapter reviews. These confrontations were, in turn, part of the public politics of the increasingly imminent accession. Towards the end of the 1590s there were, here and there, visible signs that the authorities were not (if they ever had been) united over the way that the law should be enforced against Catholic separatism.
The Protestant Turn Turns Sour
Authors: Questier Michael
Published: March 2022

In later 1612 the Stuart court, still faced with the political implications of the assassination of Henry IV, had made an explicitly Protestant dynastic commitment to European Calvinism in the form of the marriage between Princess Elizabeth and Frederick V, elector palatine. This match was, it seems, regarded badly by some Catholics. This triggered the State’s retaliation against Catholics who might be regarded as non-loyalists and whose prosecution would gloss the turn towards European Calvinism. But what some court Calvinists might have thought was a major turning point for them quickly turned out to be anything but that. Faced with the king’s far from complete commitment to this Protestant turn, and his display of his customary phobia about puritanism, some Calvinists tried to use the law of treason against Catholics to win public battles over the direction of political travel in the future, aware of the threat represented for example by the Essex divorce case, which in turn triggered retaliatory strikes against courtier enemies of puritanism. That struggle was narrated by a number of Catholic commentators, including Luisa de Carvajal. The stream of criticism associated with Catholics fed back into the Stuart court’s efforts to shadow European geopolitics during the rest of the 1610s, looking as it did for a major dynastic alliance with one of the Continent’s major Catholic royal houses. These tensions and collisions were made public by, for example, the prosecution and execution of the cleric Thomas Maxfield in 1616.
Back to the Future
Authors: Questier Michael
Published: March 2022

‘Fear of popery’ was a major factor in the collapse of royal government in 1640–1, and it was a ubiquitous feature of mid-seventeenth-century politics. From time to time, the treason statutes were deployed against Catholic clergymen again, that is, against those whom some Protestants undoubtedly blamed for the recent catastrophes of royal government. The crown’s failure to respond with the appropriate levels both of brutality towards Catholics and also of Machiavellian cynicism in the face of the king’s critics was a major contributor to the king’s reputation, ironically, for untrustworthiness. At the same time, there was not the widespread use of the treason law that one might have expected from reading the works of William Prynne. The complexities of the politics of the 1640s and 1650s meant that, despite sporadic and targeted prosecutions, the various constituent parts of the Catholic community were able, particularly in the later 1640s, to look for a deal with those who had appropriated the king’s authority. This was a manoeuvre associated with the so-called Blackloists who were, in some respects, the heirs of the appellants of the late sixteenth century. During the 1650s, although there were two high-profile executions of Catholic clergymen, the way in which power was distributed in the new republic made those events as intensely controversial as anything seen since the start of the English Reformation.
The Restoration and the Popish Plot
Authors: Questier Michael
Published: March 2022

Restoration anti-popery is a vast topic and this chapter refers only to the salient aspects of it—in particular, the pamphlet debates of the 1660s and 1670s about whether Catholics had been loyal to the king during the civil wars of the 1640s. This helps to contextualize the outbreak of a very violent implementation of the penal laws in the later 1670s against Catholics, which itself was one of the contexts of the exclusion crisis that lasted until 1681. Whereas the Restoration period had seen something like de facto tolerance for many Catholics, the Popish Plot, or ‘Oates Plot’ as Catholics called it, led to executions of clergymen on a scale not seen since Elizabethan times. Here the shadow of Blackloism was still visible, that is as Catholics were faced with the ambiguities of their past relationship with the State.
Conclusion
Authors: Questier Michael
Published: March 2022

This concluding chapter—‘The Afterlife of the Early Modern English Martyr Tradition’—reviews the question of how far one can ever fully historicize documents relating to what past commentators have described as martyrdom; and what this review of the historical records concerning English Catholic claims—that there was an unrelenting persecution in post-Reformation England—tells us historically about the early modern period as a whole. The author stresses that it is worth pointing out that this volume has only scratched the surface of the subject: there are many different ways and methods of approaching this topic.
Corporate Leverage and Household Portfolio Preference
Authors: Smithers Andrew
Published: March 2022

In an economy in which there are only two sectors, corporations and households, the ratio of debt to equity must be the same in both. If households wish to hold more debt, companies must become more leveraged. Because there are large differences in price elasticities the adjustment occurs through changes in bond yields, rather than in equity returns. Corporate leverage is endogenous and equilibrium is achieved, when fiscal policy and portfolio preference alter, by its response to them via changes in bond yields. Fiscal deficits vary with the cycle, but the possibility of different secular levels rests on the assumption that the economy has more than one possible equilibrium. This is implied by the neoclassical consensus though, due to its failure to recognize the need for the balance between portfolio preference and leverage, there is no analysis on whether the output of economies operating under these different equilibria will grow at different rates. The model explains how this balance is achieved and indicates that an economy with a fiscal deficit and higher interest rates will tend to grow more slowly than one with smaller deficits and lower long-term interest rates.
The Risk-free Short-term Rate of Interest
Authors: Smithers Andrew
Published: March 2022

Short-term interest rates have not historically been risk-free as banks defaulted and depositors were not insured. The apparent long-term fall in real short-term interest rates does not therefore necessarily indicate that this has been the trend for risk-free rates. As they are affected independently by exogenous changes in the fiscal balance and demographics, neither short- nor long-term interest rates, nor the yield curve are mean reverting. While volatile over short periods, short- and long-term rates have varied within quite narrow limits over longer time spans, as has the shape of the yield curve and the steepness of its slope. The average risk-free short-term real rate of return has been under 1 per cent and the long-term rate below 2.5 per cent.
Stock Market Returns Do Not Follow a Random Walk
Authors: Smithers Andrew
Published: March 2022

It used to be assumed that the pattern of stock-market returns followed a random walk with drift, i.e. that they gave positive long-term returns but periods of above-average return were no more likely to be followed by below-average than above average returns. As is now generally accepted, returns are mean reverting. After a short period of less than two years, they show negative serial correlation which becomes increasingly strong as the time horizon lengthens. This is demonstrated by using all available data covering the years 1801 to 2018, by the three non-overlapping periods of 1801 to 1971, 1871 to 1941, and 1941 to 2018, and by comparing non-overlapping and overlapping time periods for five and ten years.
The Risks of Equities at Different Time Horizons
Authors: Smithers Andrew
Published: March 2022

It follows from the negative serial correlation of equity returns that they must have been mean reverting around a stable long-term average, the best estimate for which is 6.7 per cent. This is a relatively recent development in financial economics, which must be incorporated into macroeconomic models if they are to include finance. Equities have no maturity, and their returns are volatile over all time periods though the volatility declines the longer the investors expect to hold them. Although the composition of the stock market changes as companies are liquidated and new ones take their place, in aggregate equities are irredeemable. To be compensated for the risk that this involves, investors need a higher return and its extent depends on their aversion to risk. If the risk aversion of investors has been historically constant, the required return on equities for different time horizons will have been also because the volatility of equities has been mean reverting. Although their distribution is not quite normal it has been approximated closely enough for the probabilities of returns to be calculated as if it were. We can therefore measure the risks of holding equities over different time horizons.
Valuing the US Stock Market
Authors: Smithers Andrew
Published: March 2022

As returns from US equities fluctuate around a stable average and as the ratio of net worth to market capitalization is mean reverting, the stock market’s value can be calculated using two different methods, known as CAPE and q. The results must of course agree and, as they do, and are derived from different data series they reinforce each other’s validity. The accuracy of the two approaches can then be tested using hindsight by comparing past values of the stock market derived from its historic returns with the values shown by CAPE and q. Both methods of valuation are robust when tested with R2 correlations of 0.80 for q and 0.52 for CAPE. The long-term mean-reverting real return can then be calculated and it is around 6.7 per cent. The comparison of returns with the average PEs and pay-out ratios with dividend growth shows that companies habitually overstate their earnings.
The Behaviour of the Firm
Authors: Smithers Andrew
Published: March 2022

Companies produce more than half of total output, so the economy depends on those who run them. Neoclassical theory assumes that companies aim to maximize the present discounted value of net cash flows (‘profit maximize’) in the interests of shareholders. Critics have long held that this is wrong as mangers act in their own interests, of which the key ones are to keep their jobs and receive large financial rewards. Businesses are of three different types: if incorporated they can be either quoted or unquoted, or they can be unincorporated and the behaviour of their managers varies with the type. Quoted companies dominate the economy and their managers’ job-threatening activities include being underleveraged, raising new equity issues, having poor RoEs and losing market share. These expose them to being taken over using debt, if underleveraged, or other companies’ shares, if their own are rated below average by the stock market. The balance between avoiding underleveraging and the risk of having to raise new equity, results in the ratio of interest payments to profits before tax being stationary. The balance between avoiding the loss of market share and a poor RoE results in investment being at the hurdle rate. The bonus culture has temporarily raised the hurdle rate and thus depressed investment, by increasing the rewards of short-term rises in EPS.
Tangibles and Intangibles
Authors: Smithers Andrew
Published: March 2022

In 2013 the definition of investment was broadened to include R&D and other intangible as well as tangible assets, and historic data were changed to reflect this decision. The assumptions justifying this change are that money is only spent by companies when they expect a return from it and that this boosted future profits in aggregate rather than for one individual company at the expense of others. Neither of these assumptions is sensible. Much expenditure, such as that on advertising, is necessary for a company to remain in business rather than improving its future returns. Some companies will win, and some lose, but costs incurred appear to constitute a zero sum game and thus to have no value in aggregate. Investing in R&D has the same zero sum result. Redefining investment to include R&D was a mistake, although accurate data on such expenditure would be useful. Unfortunately, it is probable that the data produced are very poor quality.
Other Problems from Labelling IP Expenditure as Investment
Authors: Smithers Andrew
Published: March 2022

The mislabelling of R&D expenditure has served to disguise the extent to which tangible investment has fallen, delaying the realization that this has caused poor labour productivity. Because intangible investment is depreciated rapidly and has risen since 1981 from 8 per cent to 36 per cent of business investment, as shown in the national accounts, both the profit and labour shares of gross output have fallen. By including depreciation in profit, many have mistakenly claimed that the labour share of output has fallen, thus falling foul of Hicks’s famous definition of income. Several economists have questioned this rapid rate of IP depreciation, which if lowered would raise profits after depreciation, but this is inconsistent with the evidence from equity returns that profits are already overstated.
Portfolio Preference and Retirement Savings
Authors: Smithers Andrew
Published: March 2022

Little if any corporation tax was raised the nineteenth century but the rate has been significant and highly variable since, while the return on equity has been stationary. While the tax is collected by companies, the economic cost does not fall on their shareholders. The mean reversion of the labour share of output since 1929 and the absence of any connection with its fluctuations and those in the corporate tax rate show that it did not fall on employees either. Corporation tax is, in effect, a tax on investment and not on shareholders or employees. The immediate effect of an increase in tax is nonetheless to reduce published profits. Profits will grow more slowly in the future, so the short-term rise in income from corporation tax will be followed by lower longer-term receipts.
Life Cycle Savings Hypothesis
Authors: Smithers Andrew
Published: March 2022

Consensus models assume that the return on capital is set by a constant, psychologically determined, discount rate. The evidence is against this. The stationarity of equity returns and its absence from returns on total capital require a wide variation in either interest rates or leverage. As real interest rates fluctuate over time within a narrow range, the cause of major divergence between the returns on equity and total capital lies in variations in leverage, matched by those in household portfolio preference. Leverage varies and its fluctuations are not offset by changes in interest rates. The return on bonds is not, as consensus models imply, positively correlated with those on equity. Because the return on equity is inelastic to changes in bond yields and leverage is not, the process of adjustment only involves small changes in long bond yields and none in the return on equity. The large difference in bond and equity returns results from the utility function of savers being determined by their prime aim which is to preserve consumption in retirement, contrary to the usual assumption that savings are driven by a wish to boost spending. Retirement savings dominate the household sector’s total financial assets.
Biopolitics and the “Boundless People”
Authors: Brill Sara
Published: March 2022

This chapter develops a genealogical lens for viewing Aristotle’s thinking about the nature of the human multitude. Its primary claim is that Aristotle’s sense of the sharing of the perception of justice as the common deed that comprises human political life is informed by an Iliadic model, the harnessing of aisthēsis and logos for the pursuit of a common task. As with Aristotle, the root of this model is found in the very conception of living as it is accomplished by a variety of animal kinds. In both cases, living emerges as a collectively pursued enterprise requiring fluid combinations of coalescences and diffusions of force and capacity. The model of political power that emerges from the animal imagery for human collective action employed throughout the Iliad illuminates the conception of zōē that undergirds Aristotle’s understanding of the formation of people and complicates our assessment of the “biopolitical” character of Aristotle’s thought.
Agamben’s Aristotelian Biopolitics
Authors: Cimino Antonio
Published: March 2022

The aim of this chapter is to contribute to the reassessment of Giorgio Agamben’s account of biopolitics by discussing some conceptual and methodological problems arising from his use of Aristotelian texts, notably his analysis of the difference between “natural life,” “politically qualified life,” and “bare life.” The chapter begins by presenting the essentials of Agamben’s conception of biopolitics and explaining how he conceptualizes the basic characteristics of the relationship between life and the political. The ensuing reassessment moves in three directions. First, the chapter examines the notion of exception, which Agamben takes from Carl Schmitt and repurposes to develop his notion of biopolitics. Second, the chapter shows the extent to which Agamben’s conception is exposed to a number of objections. Third, the chapter focuses on the question of whether Agamben’s account of biopolitics enables us to capture the nature of power in a consistent and clear way.
Grounding the Subject
Authors: Bowie Andrew
Published: March 2022

Examines contrasting ways in which modern notions of the subject emerge in Montaigne, Descartes, and Hume, and enable concern with the aesthetic dimensions of philosophy to develop. A new focus on the self is linked to differing conceptions of sceptical doubt, because the relationship between I and world is put in question by political, sociocultural and economic changes. Rather than, as Descartes does, seeking to establish a firm foundation for knowledge, Montaigne uses the shifting form of his writing to warn against claims to certainty. The division between Descartes’s epistemological response to doubt and Montaigne’s aesthetically constructed and religiously oriented response is a manifestation of philosophical divisions that recur in modernity. The complexity of responses to the subject–object relationship is illustrated by Hume’s reflections on ‘taste’ and the durability of art in contrast to philosophy.
The Aesthetic Demand
Authors: Bowie Andrew
Published: March 2022

Considers how art comes to be seen as a superior form of philosophy at the end of the eighteenth century. German Idealist and early Romantic philosophy wants to overcome the split between mind and nature that is seen as opened up by Kant. In the early Romantics, the ‘absolute’ that would comprehend the relationship of mind and world is not accessible to conceptual thinking, and this leads in the direction of art. In Hegel, art is inferior to philosophy, because it depends on particularity. For the early Romantics, works of art cannot be definitively interpreted: their genesis of new sense is more important than the idea of any final philosophical truth. Hegel argues that truth is generated by refutation of existing truths, and this is the highest philosophical insight, but he fails to account for the continuing historical role of art in making new sense.
The Dialectic of Modern Art
Authors: Bowie Andrew
Published: March 2022

Adorno gives a decisive role to political economy in understanding why art matters as a response to historical disasters like Auschwitz. He uses the notion of ‘non-identity’ to understand how art articulates the particularity that other cultural forms, including philosophy, can obscure. Art depends on ‘mimesis’, rather than on conceptuality, and can connect us to nature in non-repressive ways. Adorno sees the impulse to domination of the objective world as the core of modern subjectivity. By seriously engaging with art, the subject can question its distorted relationships to the world. These may lead to the point where art enacts a refusal to make sense, in order not to conspire with what leads to disaster. Adorno’s interpretations of aesthetic modernism tend to underestimate the value of participation in art as a means of extending communicative possibilities.
Conclusion
Authors: Bowie Andrew
Published: March 2022

Academic philosophy often underplays the philosophical significance of art. Its focus on argument can lead to a failure to see how philosophy often has to do with the aesthetic dimensions. Dewey stresses how ‘commerce with the world’ involves self and world in ways which make no sense if one assumes a sceptical division between the two. Seeing art as a kind of philosophy, and philosophy as a kind of art, can illuminate unresolved tensions between the different cultural domains of the modern world. Habermas talks of taking ‘domains of experience seriously that first have to be disclosed performatively through participation in a practice’. The real world contribution of this reorientation of the focus of philosophy lies in its highlighting alternative ways of making sense that can be repressed by technocratic imperatives.
Introduction
Authors: Krafft Caroline , Assaad Ragui
Published: March 2022

The Egyptian economy had begun to recover from the challenges that followed the January 25, 2011 revolution when tough but necessary economic reform measures were adopted in 2016 and 2017. In the midst of Egypt’s recovery, it was hit by the global COVID-19 pandemic and the widespread disruptions it caused. While Egypt is no stranger to external shocks, the magnitude of these shocks was particularly pronounced. The economic turbulence they caused undoubtedly had major effects on labor market outcomes and on household livelihoods and wellbeing more generally....
Associations between Economic Vulnerability and Health and Wellbeing in Egypt
Authors: Sieverding Maia , Hassan Rasha
Published: March 2022

There is a well-established relationship between economic vulnerability and health, which is complicated by reverse causality; poor economic outcomes contribute to poor health and poor health can lead to worse economic outcomes. Yet even descriptive studies of the relationship between economic and health outcomes are lacking in the Middle East and North Africa region. The Egypt Labor Market Panel Survey 2018 includes a range of health measures, including the UN-Washington Group disability instrument, self-rated health, and the WHO-5 subjective wellbeing scale that allow us for the first time to conduct a detailed examination of the associations between economic vulnerability and health in the Egyptian population. We find a substantial burden of poor health among the working age and older populations. Several groups emerge as particularly vulnerable to poor health outcomes, including the elderly, divorced women, the urban poor, and those in precarious and hazardous forms of employment.
Epilogue
Authors: Krafft Caroline , Assaad Ragui
Published: March 2022

Events since 2012 have presented both new opportunities and new challenges for the Egyptian labor market. The chapters of this book have leveraged the new Egypt Labor Market Panel Survey (ELMPS) 2018 data to explore a variety of important labor market issues ranging from migration to entrepreneurship. Key themes about gender and vulnerability in the labor market are illustrated in terms of the overall labor market situation, lack of good jobs, particularly vulnerable groups, unique and developing challenges, and how Egyptians are coping with challenges....
Logic, Logical Norms, and (Normative) Grounding
Authors: Mulligan Kevin
Published: March 2022

While Bolzano’s writings were largely ignored by the philosophical community of his time, they later aroused the attention of Franz Brentano and his students, in particular that of Edmund Husserl. This paper examines a range of Husserl’s views on grounding and their relation to Bolzano’s views. A particular emphasis is laid on Husserl’s conception of logic: is logic a normative or a theoretical discipline? Relatedly: what is the connection between logical norms and logical truths? Husserl argues that logic is a theoretical discipline and that logical truths ground logical norms. In order to understand and evaluate this view, it is compared with Bolzano’s account of the grounds of moral truths.
Grounding, Simplicity, and Repetition
Authors: Textor Mark
Published: March 2022

For Bolzano, grounding and propositional complexity are connected: simpler and more general truths are supposed to ground more complex and specific truths. How does one measure the complexity of a truth? Bolzano’s answer is: a truth is a whole with parts (‘objective ideas’) and we measure its complexity by counting its parts. But how do we count parts of propositions? Does the proposition that it is not the case that it is not the case that Socrates is wise have five parts or six parts? Plausible assumptions about grounding require that an idea can occur several times in a proposition (‘six’ is the right answer). The repetition problem is the question how one objective can be contained several times in one proposition given that objective ideas are non-spatial and atemporal. The paper argues that this problem can be answered if we take the notion of a position in a proposition seriously.
Norwegian Lawyers and Political Mobilization 1623–2015
Authors: Langford Malcolm
Published: March 2022

This chapter argues that Norwegian lawyers have been a regular though not constant feature in the arc of political liberalism. It reviews though that Norwegian lawyers mobilized mostly in smaller groups or wings and almost always found themselves on both sides of the barricades. Lawyers did made major contributions to political liberalism in the nineteeenth century, but primarily as members of the political complex, and it is only in the late twentieth century that distinct legal complexes emerge. The chapter draws on and applies a legal complex theory, developed by the author in chapter 9, that is constructed along two axes that foreground the individual agency and motivations of lawyers and their relative opportunity structures. It focuses on four broad historical periods: mercantilism and monarchism from 1622 to 1814, liberal nationalism from 1814 to 1884, social liberalism and welfarism from 1885 to 1980, and globalization and legalization from 1977 to 2015.
SDG 1 – On the Origins of the Idea of Ending Poverty
Authors: Ravallion Martin
Published: March 2022

The late eighteenth century saw the intellectual germ of the idea of “ending poverty,” but the idea did not get far in economics or policy making until much more recently. Over the nineteenth century, poverty rates fell substantially in Western Europe and North America, and we started to see mainstream advocates of ending chronic poverty, and policies for doing so. There was an explosion of interest in the idea from around 1960, with policy responses in many countries, including America. In the post-Colonial period, the newly independent states were keen to see an end to poverty. From the 1990s, development agencies began to identify this as their overarching objective. The UN’s first Millennium Development Goal (MDG1) of halving the 1990 poverty rate by 2015 was achieved ahead of time. The UN’s Sustainable Development Goals came to include ending extreme poverty by 2030. This is more ambitious than MDG1, and more politically challenging. Economic growth in poor countries is likely to remain important, but the policy emphasis has shifted to redistributive interventions, though these will require a deeper reach to the poorest if we are to see the end of poverty, judged by any chosen poverty line.
SDG 6 – Changing International Policies on Safe Water and Sanitation after the Second World War
Authors: Juuti Petri S. , Juuti Riikka P. , Hukka Jarmo J. , Katko Tapio S.
Published: March 2022

History shows how water is a key driving force in development and communities. Sustainable Development Goal 6, “Clean Water and Sanitation,” shows the priority of water services while water also connects many other development sectors. The chapter analyzes international water collaboration after the Second World War, professional associations, the role of the UN, wider views on water management, and long-term policy trends. In spite of the increased global efforts there are still 2.1 billion people without safely managed water services, 4.5 billion people lack safely managed sanitation, and almost one billion have to practice open defecation. Since earlier policies on free water and water services privatization both failed, we need more realistic reforms and overall capacity building. In developing economies access to water services is a major challenge, whereas in developed societies more efforts are needed for upgrading the ageing infrastructure. Reaching many of the SDGs, not only SDG 6, requires additional efforts and reorientation in water services education and research.
SDG 12 – Sustainability and the World of Goods since the Industrial Revolution
Authors: Bose Aniruddha , Möckel Benjamin
Published: March 2022

This chapter examines concepts of responsible consumption and production within the context of Sustainable Development Goal 12. We start with an analysis of how ideas of sustainability emerged in the eighteenth century in Europe within the context of industrialization and the emergence of modern consumer societies. We then broaden our perspective and look at different concepts of sustainable consumption and production in India, Europe, and the United States. We highlight how these concepts referred both to a fundamental critique of modern capitalism and consumerism and to ideas of reforming capitalism and rendering it more efficient and just. In the last sections, we show how after 1945 concepts of “green consumerism” and “corporate social responsibly” picked up these ideas without putting the basic principles of modern capitalism and mass consumerism into question. Our focus is on the intellectual history of sustainability, but we embed our analysis within the social and political history of consumption and production since the 1800s.
SDG 14 – Exploiting and Managing the Alien and Unseen World below Water
Authors: Holm Poul
Published: March 2022

The marine realm has played a pivotal role in human development but remains a largely unknown world full of surprises to science and societies. This chapter reviews human impacts by moving from the surface to the deep sea and from the Paleolithic to the Modern. As much of life below water is not visible to us, humans have responded to problems only when they surfaced. It is argued that as top predators, humans rarely have had the perfect knowledge to conserve an ecosystem, much less so an ecosystem below water. Legacies of past exploitation and contamination pose challenges to future ocean management.
‘Prudentia’
Authors: Higgins Ben
Published: March 2022

William and Isaac Jaggard are well known as the printers of the First Folio, but they were also the book’s publishers. Against a tradition of thinking about the Jaggards as trade printers, this chapter argues that William Jaggard established a coherent set of publishing interests based around reference publishing and reappraises his treatment of Shakespeare’s books. The chapter contends that early readers of the Folio would have associated the Jaggard publishing house with books that were destined for libraries: encyclopaedic in scope and authoritative in content. The chapter finishes by examining links between Jaggard and Shakespearean textual authority. Rather than distancing the First Folio from Jaggard’s earlier ‘illegitimate’ ventures like the Passionate Pilgrime and the 1619 collection of ‘Jaggard Quartos’, the chapter challenges us to imagine how we might read ‘Shakespeare’ if the First Folio was not the default source of literary authority.
Epilogue
Authors: Higgins Ben
Published: March 2022

The epilogue draws together traces of the bookwomen involved in various ways with the publication of the First Folio. As book history seeks to expand its disciplinary contours, the epilogue asks how much we can recover of the wives of the Folio syndicate. It introduces new evidence relating to the involvement of Elizabeth Bankworth Blount and Jane Jaggard in the businesses owned by Edward Blount and William Jaggard. The epilogue concludes by considering possible ways forward for book historians working with stationers and the history of the Shakespearean text. It suggests that critics need to turn away from the individual agent and look to the wider community of book production to discover new histories of how literary works were made.
Assuming Responsibility
Authors: Herdt Jennifer A.
Published: March 2022

This book defends an “ecstatic” or “goodness-prior” eudaimonism found in both ancient pagan and Christian thinkers, distinguishing this from objectionably self-regarding forms of eudaimonism. Ever since Kant, eudaimonism, the doctrine of happiness as highest end, has come under attack as egoistic and as offering the wrong reasons for fulfilling obligations. Today we are witnessing enthusiastic endorsements of eudaimonism, yet it is unclear both whether they can ward off these critiques and whether they succeed in recovering eudaimonism in either its pagan or Christian guise. In this book, Jennifer Herdt examines how happiness, the final end, and obligation are construed by major figures within the Western tradition, arguing that Augustine, Aquinas, Scotus, and Calvin are all best understood as ecstatic eudaimonists, who understand the final end as a good greater than oneself and therefore worthy of one’s commitment and devotion. The book further argues that ecstatic eudaimonism succeeds in accounting for the binding character of obligation, requiring neither a divine command theory nor a notion of sui generis moral obligations. In conversation with a broad array of contemporary moral philosophers, the book characterizes obligation as a feature of accountability relations among agents who track their own and others’ commitments and entitlements. It concludes by exploring the vocation Christians affirm as divine call to a shared life of responsiveness to fragile finite goods and persons, and thereby to a participation in creation’s reditus to God.
Introduction
Authors: Herdt Jennifer A.
Published: March 2022

This introductory chapter situates the project of this book within the context of contemporary retrievals of eudaimonism and longstanding philosophical and theological critiques of eudaimonism. Eudaimonism (in part due to the outsized influence of Kant) has been regarded as improperly self-regarding, offering the wrong reasons for fulfilling obligations, corrupting worship of God and love of neighbor, and as distracting attention from the advancement of social justice. The chapter discusses the present-day enthusiasm for eudaimonism (particularly in positive psychology and the social sciences more generally), which regards virtue as a necessary and/or sufficient condition for naturalistic flourishing. It also surveys the critique of obligation that has issued from leading philosophical virtue ethicists. The chapter argues that deontic concepts cannot and should not be excised from our vocabularies and practices, but also that contemporary eudaimonism often departs in significant—and problematic—ways from earlier pagan and Christian eudaimonism.
Duty and Obligation from Aquinas to Calvin
Authors: Herdt Jennifer A.
Published: March 2022

It is vital to determine how duty and obligation have been conceived within ecstatic eudaimonism, given that influential virtue ethicists have dismissed deontic concepts and both philosophers and theologians have regarded eudaimonism as incapable of properly acknowledging the binding character of obligation. This chapter focuses on duty and obligation in Aquinas as well as in Duns Scotus and John Calvin, two thinkers often taken to be divine command theorists. While Scotus’s embrace of the doctrine of the two affections of the will marks a significant departure from Aquinas, the chapter argues that neither Scotus nor Calvin is engaged in theorizing the ground or nature of obligation; neither, then, develops a divine command theory of obligation. Moreover, both Scotus and Calvin remain within the tradition of ecstatic eudaimonism, thus shoring up the expectation that a fully adequate account of obligation can be given from within ecstatic eudaimonism.
Goodness-Prior Eudaimonism
Authors: Herdt Jennifer A.
Published: March 2022

Chapter 4 examines a series of philosophical objections to eudaimonism, concluding that many contemporary accounts of eudaimonism are objectionably self-regarding. They are what Anne Baril terms “welfare-prior,” whereas a defensible eudaimonism must be “goodness-prior.” To say that eudaimonia is moral agents’ final end is to affirm not that moral agents rightly rank the incentive to promote their own welfare above all other incentives, but rather that moral agents cannot rightly respond to the goods they encounter without their agency being perfected, and also that they cannot rightly respond to these goods unless they respond to them precisely as good and not merely as a means to promoting their own welfare. The chapter argues further that goodness-prior eudaimonism is compatible with a pluralist theory of value that affirms the irreducible distinctiveness of finite goods. Ecstatic Christian eudaimonism is a form of goodness-prior eudaimonism, which grasps these manifold goods as the finite created manifestation of God’s goodness.
Obligation and Divine Commands
Authors: Herdt Jennifer A.
Published: March 2022

Divine command theory contends that the source, constitution, and binding force of moral obligation are properly accounted for by reference to divine will and/or command. This chapter identifies the pragmatic-semantic role of the deontic term obligation, arguing that there is no distinctively moral kind of obligation; to say of something that it is a moral obligation is just to express that it is binding on pain of incurring deserved blame. The chapter examines the divine command theories of Robert Merrihew Adams and John Hare, arguing that Christians can affirm the authority and significance of divine commands without embracing divine command theories of moral obligation or sui generis “moral” reasons. The chapter goes on to suggest that Hare’s approach, by highlighting the necessary truth that God is to be obeyed, invites us to attend to other such necessary truths, and the ways in which norms are constitutive of all concepts.
Obligation and Reason-Giving Relationships
Authors: Herdt Jennifer A.
Published: March 2022

Obligation is a feature of accountability relations among moral agents, who track their own and one another’s commitments and entitlements. When we have grasped the semantic-pragmatic shape of obligation as marked out by the blameworthy, we have understood its binding character and do not need a theory of its nature or essence beyond what it is as manifest kind. Efforts to distinguish worth-regarding from moral obligations (Wolterstorff) or state-of-the-world-regarding from second-personal obligations (Darwall) are shown by the chapter to be unsuccessful. Further, first-personal and second-personal authority stand and fall together; one awakens to the task of unifying one’s own agency only as one is addressed by others as an agent. Being perfected as a moral agent takes place only insofar as one’s participation in these accountability relations, too, is perfected. Yet it is because perfecting these accountability relations is itself good that one has reason to perfect them. Hence, the chapter argues, ecstatic eudaimonism fits hand in glove with this account of obligation.
EU Rulemaking in the Internal Market after the Financial Crisis
Authors: Bergström Carl Fredrik
Published: March 2022

This chapter is intended to delimit the field of study of the book and establish the central concepts. It provides a legal empirical assessment of rulemaking in the internal market and addresses some significant patters of change: most notably a principal shift of legal instrument from directives to regulations and a coherent use of modern model for regulatory frameworks. Focus is set on the financial market. The chapter examines the process for integration in the financial market and the reasoning underlying the rulemaking reform resulting from the financial crisis. Against that background an account is given for the two legislative acts that are most central to the book: Directive 2014/65 on markets in financial instruments (MiFID II) and Regulation 2014/600 on markets in financial instruments (MiFIR). Finally the chapter formulates the thematic questions that the book sets out to answer and explains its structure.
The Joint Board of Appeal as an Accountability Mechanism for the ESAs
Authors: Chamon Merijn
Published: March 2022

This chapter explores the degree to which the Joint Board of Appeal fulfils its potential as a mechanism allowing parties such as investment firms to hold to account the European Supervisory Authorities (ESAs), and notably the European Securities and Markets Authority (ESMA), when they are governed by MiFID II or MiFIR. Before focusing on the potential of the Board of Appeal as an accountability mechanism open to investment firms, the discussion will be contextualized by examining the problematic accountability regime in relation to the EU decentralized agencies in general. This is relevant because the ESAs are part of this larger group of bodies, and because the specific mechanism of the Board of Appeal is not unique to the ESAs, but is, instead, shared with several other decentralized agencies. This more general analysis shows that the emphasis of the EU decentralized agencies' (and the ESAs') accountability regimes are placed on a form of professional accountability, but that, specifically for the ESAs, this only results in a partial accountability, since no accountability relationship is defined for the ESAs’ Boards of Supervisors. This finding underlines the importance of being able to hold the Board of Supervisors accountable before the Joint Board of Appeal, even if the latter is not formally qualified as an accountability forum, in terms of the ESAs regulations.
Supervisory Arbitrage
Authors: Klevhill Malou Larsson , Persson Annina H
Published: March 2022

This chapter assesses the application of the administrative sanctions in the MiFID regime by the Financial Services Authority (FSA) in Sweden. It begins by describing some of the specified penalties, and exemplifies how these are used in practice in Sweden. The FSA has a number of different sanctions that it can resort to in order to rectify investment firms' infringements of the financial regulations. Although the FSA has these powers, and the MiFID regime presupposes their application, it is not mandatory to use them. Instead of fully applying the MiFID sanctions regime, the FSA has developed a communicative dialogue with market actors, which culminates in a ‘Final Letter’ with future recommendations rather than a formal decision imposing a penalty for wrongful actions. This behaviour can result in what may be called ‘supervisory arbitrage’, which (as opposed to regulatory arbitrage) does not refer to the design of the rules, but to the relative rigour or remission of supervisory practices.
Not Suitable to Lead an Investment Firm
Authors: Jonsson Britta Behrendt
Published: March 2022

This chapter explores fit and proper assessments as an instrument of accountability. MiFID II and other pieces of EU legislation require members of administrative, management, or supervisory bodies of regulated undertakings in the financial sector to be suitable for their positions, or ‘fit and proper’. The objective of the fit and proper assessment is to ensure that investment firms are managed by competent persons, in order to protect investors and market stability. Fit and proper assessments of members of management bodies of investment firms may serve as instruments of accountability, alongside administrative sanctions and criminal or civil liability, since regulatory breaches or other instances of misconduct of the firm or the person will have a negative impact on the assessment of fitness and propriety. The risk of being assessed negatively, and being removed from management bodies, or being denied a new position may, therefore, have a deterrent effect on managers, and foster sound (risk) management.