8 results
Contributors
-
- By Mitchell Aboulafia, Frederick Adams, Marilyn McCord Adams, Robert M. Adams, Laird Addis, James W. Allard, David Allison, William P. Alston, Karl Ameriks, C. Anthony Anderson, David Leech Anderson, Lanier Anderson, Roger Ariew, David Armstrong, Denis G. Arnold, E. J. Ashworth, Margaret Atherton, Robin Attfield, Bruce Aune, Edward Wilson Averill, Jody Azzouni, Kent Bach, Andrew Bailey, Lynne Rudder Baker, Thomas R. Baldwin, Jon Barwise, George Bealer, William Bechtel, Lawrence C. Becker, Mark A. Bedau, Ernst Behler, José A. Benardete, Ermanno Bencivenga, Jan Berg, Michael Bergmann, Robert L. Bernasconi, Sven Bernecker, Bernard Berofsky, Rod Bertolet, Charles J. Beyer, Christian Beyer, Joseph Bien, Joseph Bien, Peg Birmingham, Ivan Boh, James Bohman, Daniel Bonevac, Laurence BonJour, William J. Bouwsma, Raymond D. Bradley, Myles Brand, Richard B. Brandt, Michael E. Bratman, Stephen E. Braude, Daniel Breazeale, Angela Breitenbach, Jason Bridges, David O. Brink, Gordon G. Brittan, Justin Broackes, Dan W. Brock, Aaron Bronfman, Jeffrey E. Brower, Bartosz Brozek, Anthony Brueckner, Jeffrey Bub, Lara Buchak, Otavio Bueno, Ann E. Bumpus, Robert W. Burch, John Burgess, Arthur W. Burks, Panayot Butchvarov, Robert E. Butts, Marina Bykova, Patrick Byrne, David Carr, Noël Carroll, Edward S. Casey, Victor Caston, Victor Caston, Albert Casullo, Robert L. Causey, Alan K. L. Chan, Ruth Chang, Deen K. Chatterjee, Andrew Chignell, Roderick M. Chisholm, Kelly J. Clark, E. J. Coffman, Robin Collins, Brian P. Copenhaver, John Corcoran, John Cottingham, Roger Crisp, Frederick J. Crosson, Antonio S. Cua, Phillip D. Cummins, Martin Curd, Adam Cureton, Andrew Cutrofello, Stephen Darwall, Paul Sheldon Davies, Wayne A. Davis, Timothy Joseph Day, Claudio de Almeida, Mario De Caro, Mario De Caro, John Deigh, C. F. Delaney, Daniel C. Dennett, Michael R. DePaul, Michael Detlefsen, Daniel Trent Devereux, Philip E. Devine, John M. Dillon, Martin C. Dillon, Robert DiSalle, Mary Domski, Alan Donagan, Paul Draper, Fred Dretske, Mircea Dumitru, Wilhelm Dupré, Gerald Dworkin, John Earman, Ellery Eells, Catherine Z. Elgin, Berent Enç, Ronald P. Endicott, Edward Erwin, John Etchemendy, C. Stephen Evans, Susan L. Feagin, Solomon Feferman, Richard Feldman, Arthur Fine, Maurice A. Finocchiaro, William FitzPatrick, Richard E. Flathman, Gvozden Flego, Richard Foley, Graeme Forbes, Rainer Forst, Malcolm R. Forster, Daniel Fouke, Patrick Francken, Samuel Freeman, Elizabeth Fricker, Miranda Fricker, Michael Friedman, Michael Fuerstein, Richard A. Fumerton, Alan Gabbey, Pieranna Garavaso, Daniel Garber, Jorge L. A. Garcia, Robert K. Garcia, Don Garrett, Philip Gasper, Gerald Gaus, Berys Gaut, Bernard Gert, Roger F. Gibson, Cody Gilmore, Carl Ginet, Alan H. Goldman, Alvin I. Goldman, Alfonso Gömez-Lobo, Lenn E. Goodman, Robert M. Gordon, Stefan Gosepath, Jorge J. E. Gracia, Daniel W. Graham, George A. Graham, Peter J. Graham, Richard E. Grandy, I. Grattan-Guinness, John Greco, Philip T. Grier, Nicholas Griffin, Nicholas Griffin, David A. Griffiths, Paul J. Griffiths, Stephen R. Grimm, Charles L. Griswold, Charles B. Guignon, Pete A. Y. Gunter, Dimitri Gutas, Gary Gutting, Paul Guyer, Kwame Gyekye, Oscar A. Haac, Raul Hakli, Raul Hakli, Michael Hallett, Edward C. Halper, Jean Hampton, R. James Hankinson, K. R. Hanley, Russell Hardin, Robert M. Harnish, William Harper, David Harrah, Kevin Hart, Ali Hasan, William Hasker, John Haugeland, Roger Hausheer, William Heald, Peter Heath, Richard Heck, John F. Heil, Vincent F. Hendricks, Stephen Hetherington, Francis Heylighen, Kathleen Marie Higgins, Risto Hilpinen, Harold T. Hodes, Joshua Hoffman, Alan Holland, Robert L. Holmes, Richard Holton, Brad W. Hooker, Terence E. Horgan, Tamara Horowitz, Paul Horwich, Vittorio Hösle, Paul Hoβfeld, Daniel Howard-Snyder, Frances Howard-Snyder, Anne Hudson, Deal W. Hudson, Carl A. Huffman, David L. Hull, Patricia Huntington, Thomas Hurka, Paul Hurley, Rosalind Hursthouse, Guillermo Hurtado, Ronald E. Hustwit, Sarah Hutton, Jonathan Jenkins Ichikawa, Harry A. Ide, David Ingram, Philip J. Ivanhoe, Alfred L. Ivry, Frank Jackson, Dale Jacquette, Joseph Jedwab, Richard Jeffrey, David Alan Johnson, Edward Johnson, Mark D. Jordan, Richard Joyce, Hwa Yol Jung, Robert Hillary Kane, Tomis Kapitan, Jacquelyn Ann K. Kegley, James A. Keller, Ralph Kennedy, Sergei Khoruzhii, Jaegwon Kim, Yersu Kim, Nathan L. King, Patricia Kitcher, Peter D. Klein, E. D. Klemke, Virginia Klenk, George L. Kline, Christian Klotz, Simo Knuuttila, Joseph J. Kockelmans, Konstantin Kolenda, Sebastian Tomasz Kołodziejczyk, Isaac Kramnick, Richard Kraut, Fred Kroon, Manfred Kuehn, Steven T. Kuhn, Henry E. Kyburg, John Lachs, Jennifer Lackey, Stephen E. Lahey, Andrea Lavazza, Thomas H. Leahey, Joo Heung Lee, Keith Lehrer, Dorothy Leland, Noah M. Lemos, Ernest LePore, Sarah-Jane Leslie, Isaac Levi, Andrew Levine, Alan E. Lewis, Daniel E. Little, Shu-hsien Liu, Shu-hsien Liu, Alan K. L. Chan, Brian Loar, Lawrence B. Lombard, John Longeway, Dominic McIver Lopes, Michael J. Loux, E. J. Lowe, Steven Luper, Eugene C. Luschei, William G. Lycan, David Lyons, David Macarthur, Danielle Macbeth, Scott MacDonald, Jacob L. Mackey, Louis H. Mackey, Penelope Mackie, Edward H. Madden, Penelope Maddy, G. B. Madison, Bernd Magnus, Pekka Mäkelä, Rudolf A. Makkreel, David Manley, William E. Mann (W.E.M.), Vladimir Marchenkov, Peter Markie, Jean-Pierre Marquis, Ausonio Marras, Mike W. Martin, A. P. Martinich, William L. McBride, David McCabe, Storrs McCall, Hugh J. McCann, Robert N. McCauley, John J. McDermott, Sarah McGrath, Ralph McInerny, Daniel J. McKaughan, Thomas McKay, Michael McKinsey, Brian P. McLaughlin, Ernan McMullin, Anthonie Meijers, Jack W. Meiland, William Jason Melanson, Alfred R. Mele, Joseph R. Mendola, Christopher Menzel, Michael J. Meyer, Christian B. Miller, David W. Miller, Peter Millican, Robert N. Minor, Phillip Mitsis, James A. Montmarquet, Michael S. Moore, Tim Moore, Benjamin Morison, Donald R. Morrison, Stephen J. Morse, Paul K. Moser, Alexander P. D. Mourelatos, Ian Mueller, James Bernard Murphy, Mark C. Murphy, Steven Nadler, Jan Narveson, Alan Nelson, Jerome Neu, Samuel Newlands, Kai Nielsen, Ilkka Niiniluoto, Carlos G. Noreña, Calvin G. Normore, David Fate Norton, Nikolaj Nottelmann, Donald Nute, David S. Oderberg, Steve Odin, Michael O’Rourke, Willard G. Oxtoby, Heinz Paetzold, George S. Pappas, Anthony J. Parel, Lydia Patton, R. P. Peerenboom, Francis Jeffry Pelletier, Adriaan T. Peperzak, Derk Pereboom, Jaroslav Peregrin, Glen Pettigrove, Philip Pettit, Edmund L. Pincoffs, Andrew Pinsent, Robert B. Pippin, Alvin Plantinga, Louis P. Pojman, Richard H. Popkin, John F. Post, Carl J. Posy, William J. Prior, Richard Purtill, Michael Quante, Philip L. Quinn, Philip L. Quinn, Elizabeth S. Radcliffe, Diana Raffman, Gerard Raulet, Stephen L. Read, Andrews Reath, Andrew Reisner, Nicholas Rescher, Henry S. Richardson, Robert C. Richardson, Thomas Ricketts, Wayne D. Riggs, Mark Roberts, Robert C. Roberts, Luke Robinson, Alexander Rosenberg, Gary Rosenkranz, Bernice Glatzer Rosenthal, Adina L. Roskies, William L. Rowe, T. M. Rudavsky, Michael Ruse, Bruce Russell, Lilly-Marlene Russow, Dan Ryder, R. M. Sainsbury, Joseph Salerno, Nathan Salmon, Wesley C. Salmon, Constantine Sandis, David H. Sanford, Marco Santambrogio, David Sapire, Ruth A. Saunders, Geoffrey Sayre-McCord, Charles Sayward, James P. Scanlan, Richard Schacht, Tamar Schapiro, Frederick F. Schmitt, Jerome B. Schneewind, Calvin O. Schrag, Alan D. Schrift, George F. Schumm, Jean-Loup Seban, David N. Sedley, Kenneth Seeskin, Krister Segerberg, Charlene Haddock Seigfried, Dennis M. Senchuk, James F. Sennett, William Lad Sessions, Stewart Shapiro, Tommie Shelby, Donald W. Sherburne, Christopher Shields, Roger A. Shiner, Sydney Shoemaker, Robert K. Shope, Kwong-loi Shun, Wilfried Sieg, A. John Simmons, Robert L. Simon, Marcus G. Singer, Georgette Sinkler, Walter Sinnott-Armstrong, Matti T. Sintonen, Lawrence Sklar, Brian Skyrms, Robert C. Sleigh, Michael Anthony Slote, Hans Sluga, Barry Smith, Michael Smith, Robin Smith, Robert Sokolowski, Robert C. Solomon, Marta Soniewicka, Philip Soper, Ernest Sosa, Nicholas Southwood, Paul Vincent Spade, T. L. S. Sprigge, Eric O. Springsted, George J. Stack, Rebecca Stangl, Jason Stanley, Florian Steinberger, Sören Stenlund, Christopher Stephens, James P. Sterba, Josef Stern, Matthias Steup, M. A. Stewart, Leopold Stubenberg, Edith Dudley Sulla, Frederick Suppe, Jere Paul Surber, David George Sussman, Sigrún Svavarsdóttir, Zeno G. Swijtink, Richard Swinburne, Charles C. Taliaferro, Robert B. Talisse, John Tasioulas, Paul Teller, Larry S. Temkin, Mark Textor, H. S. Thayer, Peter Thielke, Alan Thomas, Amie L. Thomasson, Katherine Thomson-Jones, Joshua C. Thurow, Vzalerie Tiberius, Terrence N. Tice, Paul Tidman, Mark C. Timmons, William Tolhurst, James E. Tomberlin, Rosemarie Tong, Lawrence Torcello, Kelly Trogdon, J. D. Trout, Robert E. Tully, Raimo Tuomela, John Turri, Martin M. Tweedale, Thomas Uebel, Jennifer Uleman, James Van Cleve, Harry van der Linden, Peter van Inwagen, Bryan W. Van Norden, René van Woudenberg, Donald Phillip Verene, Samantha Vice, Thomas Vinci, Donald Wayne Viney, Barbara Von Eckardt, Peter B. M. Vranas, Steven J. Wagner, William J. Wainwright, Paul E. Walker, Robert E. Wall, Craig Walton, Douglas Walton, Eric Watkins, Richard A. Watson, Michael V. Wedin, Rudolph H. Weingartner, Paul Weirich, Paul J. Weithman, Carl Wellman, Howard Wettstein, Samuel C. Wheeler, Stephen A. White, Jennifer Whiting, Edward R. Wierenga, Michael Williams, Fred Wilson, W. Kent Wilson, Kenneth P. Winkler, John F. Wippel, Jan Woleński, Allan B. Wolter, Nicholas P. Wolterstorff, Rega Wood, W. Jay Wood, Paul Woodruff, Alison Wylie, Gideon Yaffe, Takashi Yagisawa, Yutaka Yamamoto, Keith E. Yandell, Xiaomei Yang, Dean Zimmerman, Günter Zoller, Catherine Zuckert, Michael Zuckert, Jack A. Zupko (J.A.Z.)
- Edited by Robert Audi, University of Notre Dame, Indiana
-
- Book:
- The Cambridge Dictionary of Philosophy
- Published online:
- 05 August 2015
- Print publication:
- 27 April 2015, pp ix-xxx
-
- Chapter
- Export citation
Unmet Duties in Managing Financial Safety Nets
- Edward J. Kane
-
- Journal:
- Business Ethics Quarterly / Volume 21 / Issue 1 / January 2011
- Published online by Cambridge University Press:
- 23 January 2015, pp. 1-22
- Print publication:
- January 2011
-
- Article
- Export citation
-
Officials must understand why and how the public lost confidence in the federal government’s ability to manage financial turmoil. Officials outsourced to private parties responsibility for monitoring and policing the safety-net exposures that were bound to be generated by weaknesses in the securitization process. When the adverse consequences of this imprudent arrangement first emerged, officials claimed for months that the difficulties that short-funded, highly leveraged firms were facing in rolling over debt reflected only a shortage of aggregate liquidity and not individual-firm shortages of economic capital. Then, in September 2008, the president and other officials created an unwise sense of urgency that delays in implementation show to have been greatly exaggerated.
That authorities and financiers violated common-law duties of loyalty, competence, and care they owe to taxpayers indicates a massive incentive breakdown in industry and government. Taxpayers deserve a thorough-going reorientation of: (1) how regulatory agencies report on their regulatory performance and back-room interactions with Congress and the Treasury, and (2) the contract structures and performance measures used by the financial industry and its government overseers.
Ethical Failures in Regulating and Supervising the Pursuit of Safety-Net Subsidies*
- Edward J. Kane
-
- Journal:
- European Business Organization Law Review (EBOR) / Volume 10 / Issue 2 / June 2009
- Published online by Cambridge University Press:
- 20 August 2009, pp. 185-211
- Print publication:
- June 2009
-
- Article
- Export citation
-
This paper traces the financial-institution crisis of 2007–2008 to a breakdown in the incentives of regulators, supervisors, managers and investors to perform adequate due diligence on securitised investments. Investors allowed their trust in the reputations of credit-rating firms and the giant financial firms that manufactured highly rated tranches of securitised loan pools to blind them to the casino ethics of these firms' managers and line employees.
Government credit-allocation schemes generate incentive conflicts that undermine the effectiveness of government supervision and eventually produce financial crisis. For political reasons, most countries establish regulatory arrangements that embrace three contradictory elements: (1) politically directed subsidies for selected borrowers (US beneficiaries have included homeowners and builders); (2) subsidised provision of explicit or implicit repayment guarantees for the creditors of financial institutions that participate in the credit allocation scheme; and (3) defective government monitoring and control of the subsidies to leveraged risk-taking that the other two elements produce. The competition encouraged incentive-conflicted supervisors to outsource much of their due discipline to credit-rating firms and accountants. This outsourcing encouraged institutions to leverage and securitise their loans in ways that pushed credit risks on poorly underwritten loans into corners of the market where supervisors and credit-rating firms were not obliged to look for them and in fact failed to discern the dangers posed until it was too late. That taxpayers are forced to pay the bill for this regulatory failure is a scandal of the highest order.
19 - Bureaucratic self-interest as an obstacle to monetary reform
- Edited by Thomas Mayer, University of California, Davis
-
- Book:
- The Political Economy of American Monetary Policy
- Published online:
- 06 July 2010
- Print publication:
- 28 September 1990, pp 281-296
-
- Chapter
- Export citation
-
Summary
To appreciate the textures and aromas of exquisitely flavored foods and sauces, one needs to cultivate an educated palate. Similarly, to appreciate the Federal Reserve's complex role in the evolution of U.S. monetary and regulatory policies and policy structures, one needs to cultivate an informed political-economic perspective on the Fed's evolving bureaucratic interest and on the various battles for turf in which this agency becomes involved.
Top Federal Reserve officials portray monetary stabilization and financial regulation as multidimensional services that, because of potentially valuable informational spillovers, are best produced together and run by their agency. Implicit in that conception is a presumption that Fed officials operate a politically inert and farsighted enterprise, passionately dedicated to the goals of economic efficiency and macroeconomic stability. Far from acquiescing in that presumption, this chapter emphasizes that efforts to protect the Fed's bureaucratic self-interest introduce myopia and distributional politics into Fed policy decisions and public statements.
The analysis offered here is intended as an antidote to traditional writings on the U.S. Federal Reserve System. Most macroeconomists portray the Fed as a politically inactive institution whose virtually only business is to use its “big three” policy weapons (open-market operations, reserve requirements, and the discount rate) to fight the excesses of the business cycle. This chapter depicts the Fed as a politically sensitive bureaucracy whose marketing activity and capacity for financing continuing clientele subsidies are at least as important as its production of stabilization services.
Discussion: Duration and Portfolio Strategy
- Edward J. Kane
-
- Journal:
- Journal of Financial and Quantitative Analysis / Volume 13 / Issue 4 / November 1978
- Published online by Cambridge University Press:
- 06 April 2009, pp. 651-652
- Print publication:
- November 1978
-
- Article
- Export citation
-
These three papers deal with a common subject from three very different attitudes and perspectives. As a result, without challenging such restrictive conventions as the assumption that investor holding periods are fixed and knowable a priori or indeed disagreeing on anything of substance, the respective sets of authors sound three very different themes.
Panel Discussion on the Teaching of Money and Banking
- Edward J. Kane
-
- Journal:
- Journal of Financial and Quantitative Analysis / Volume 11 / Issue 4 / November 1976
- Published online by Cambridge University Press:
- 19 October 2009, pp. 613-616
- Print publication:
- November 1976
-
- Article
- Export citation
-
To discuss what's right and wrong with the teaching of contemporary money-andbanking courses, we must first distinguish the various species of courses that fall under the M&B genus. In economics departments, the undergraduate M&B course is conceived prototypically in either of two ways: (1) as a basic macroeconomics course, including in principle (though often not in practice) an introductory swipe at international finance, or (2) as a policy course focusing on the art of central banking, including an obligatory introduction to opportunities for intervention in foreign-exchange markets. For convenience, let's call these alternative course conceptions (M&B)1 and (M&B)2, respectively. In business-school finance departments, M&B courses seek primarily to explain how contemporary financial markets and institutions work. These courses develop analytical descriptions of different types of financial transactions, instruments, transactors (with special emphasis on the roles played by intermediaries, dealers, and brokers), and contract terms (with special focus on implicit and explicit yields). Whereas MBA-level offerings are of negligible importance to the typical economics department, they represent a sizeable portion of the finance-department M&B market. Undergraduate M&B courses in finance departments–(M&B)3–differ from MBA-level ones–(M&B)–in assuming that students possess little background or interest in macroeconomic theory per se. (M&B)4 courses shape up as a linear combination of (M&B)3 and either or both (M&B)1 and (M&B)2.
The Re-Politicization of the Fed
- Edward J. Kane
-
- Journal:
- Journal of Financial and Quantitative Analysis / Volume 9 / Issue 5 / November 1974
- Published online by Cambridge University Press:
- 19 October 2009, pp. 743-752
- Print publication:
- November 1974
-
- Article
- Export citation
-
This paper seeks to document some simple and not-so-simple facts. My thesis is that, to an unprecedented degree, Federal Reserve (F.R.) Board Chairman Arthur Burns has engaged himself and the System in political action. Burns' leadership has contributed to politicizing the monetary control process, the dialogue concerning the nature and effects of that process, and perhaps even F.R. decisions themselves. These tactics have reduced the Federal Reserve's power to resist external political influence, a power that Chairman McCabe “bled” for in 1951 and that over the next two decades Chairman Martin labored assiduously to consolidate. On the other hand, this behavior at least maintained and probably increased Burns' standing with President Nixon.
American Literature
- James Woodress, S. V. Baum, J. Albert Robbins, Joseph Schiffman, Bibliographical Committee of the American Literature Group, Lars Åhnebrink, A. Lynn Altenbernd, Roger M. Asselineau, Ashbel Brice, Herbert Brown, Louis J. Budd, Anna Maria Crinò, Sherwood Cummings, John E. Englekirk, Bernhard Fabian, John C. Guilds, Jr., Edward Hagemann, Walter Harding, Richard M. Ludwig, Robert J. Kane, Wisner P. Kinne, Ernest Marchand, Arthur L. Scott, Herman E. Spivey
-
- Journal:
- PMLA / Publications of the Modern Language Association of America / Volume 73 / Issue 2 / April 1958
- Published online by Cambridge University Press:
- 02 December 2020, pp. 192-216
- Print publication:
- April 1958
-
- Article
- Export citation