The paper is devoted to the study of determinants determined the level of financial security of economic systems. It is shown that the financial security of an economic system implies the achievement of a level of financial stability that will contribute to simultaneously maintaining financial equilibrium and ensuring targeted growth in line with the development strategy. The level of financial security of rail transport in Ukraine was analyzed and it was determined that the decline in (...) its security was the result of a complex interaction of external and internal factors, the main of which were tight government regulation, shifting the financial burden of social responsibilities to Ukrzaliznytsya, PJSC, lack of competition in the transportation of the main nomenclature of cargo and the unsatisfactory state of non-current assets. Based on the Argenti’s method, it is shown that the consequence of the inefficient financial management of Ukrzaliznytsia, PJSC are the reduction of its insolvency. Three main determinants of the financial security of rail enterprises were identified: a reduction in traffic volumes, an unstable capital structure and the impossibility of timely repayment of current liabilities. An additive model for assessing the impact of selected determinants on the level of financial security of Ukrzaliznytsia, PJSC is proposed. The analysis of the model parameters showed that the greatest impact has the index of industrial production, which is due to the predominant formation of its own financial resources of rail transport due to income from freight traffic. A complex of measures designed to improve the financial condition of rail enterprises was proposed. It is substantiated that in order to equalize existing threats, it is necessary to take political decisions aimed at improving the financial condition of Ukrzaliznytsia, PJSC by reducing the intensity of leaching of its financial resources, as well as implementing an anti-crisis financial strategy aimed at optimizing the capital structure and financial rehabilitation of rail enterprises. (shrink)

Every year, hundreds of patients in England die whilst waiting for a kidney transplant, and this is evidence that the current system of altruistic-based donation is not sufficient to address the shortage of kidneys available for transplant. To address this problem, we propose a monopsony system whereby kidney donors can opt-in to receive financial compensation, whilst still preserving the right of individuals to donate without receiving any compensation. A monopsony system describes a market structure where there is only one (...) ‘buyer’—in this case the National Health Service. By doing so, several hundred lives could be saved each year in England, wait times for a kidney transplant could be significantly reduced, and it would lessen the burden on dialysis services. Furthermore, compensation would help alleviate the common disincentives to living kidney donation, such as its potential associated health and psychological costs, and it would also help to increase awareness of living kidney donation. The proposed system would also result in significant cost savings that could then be redirected towards preventing kidney disease and reducing health disparities. While concerns about exploitation, coercion, and the ‘crowding out’ of altruistic donors exist, we believe that careful implementation can mitigate these issues. Therefore, we recommend piloting financial compensation for living kidney donors at a transplant centre in England. (shrink)

Hospital acquired infections (HAIs), especially ventilator associated respiratory infection (VARI) cause significant morbidity and mortality, and disproportionally so in low and middle-income countries (LMICs), including Vietnam, where infection control in hospitals is often neglected. The management of HAIs in these settings is challenging because of the high proportions of antimicrobial drug resistance and limitations of laboratory diagnostics, financial and human resources in terms of knowledge and skills for antimicrobial stewardship and infection prevention and control.

Patients with serious illnesses or injuries may decide to quit their medical treatment if they think paying the fees will put their families into destitution. Without treatment, it is likely that fatal outcomes will soon follow. We call this phenomenon “near-suicide”. This study attempted to explore this phenomenon by examining how the seriousness of the patient’s illness or injury and the subjective evaluation of the patient’s and family’s financial situation after paying treatment fees affect the final decision on the (...) treatment process. Bayesian Mindsponge Framework (BMF) analytics were employed to analyze a dataset of 1042 Vietnamese patients. We found that the more serious the illnesses or injuries of patients were, the more likely they were to choose to quit treatment if they perceived that paying the treatment fees heavily affected their families’ financial status. Particularly, only one in four patients with the most serious health issues who thought that continuing the treatment would push themselves and their families into destitution would decide to continue the treatment. Considering the information-filtering mechanism using subjective cost–benefit judgments, these patients likely chose the financial well-being and future of their family members over their individual suffering and inevitable death. Our study also demonstrates that mindsponge-based reasoning and BMF analytics can be effective in designing and processing health data for studying extreme psychosocial phenomena. Moreover, we suggest that policymakers implement and adjust their policies (e.g., health insurance) following scientific evidence to mitigate patients’ likelihood of making “near-suicide” decisions and improve social equality in the healthcare system. (shrink)

Patients with serious illnesses or injuries may decide to quit their medical treatment if they think paying the fees will put their families into destitution. Without treatment, it is likely that fatal outcomes will soon follow. We call this phenomenon “near-suicide”. This study attempted to explore this phenomenon by examining how the seriousness of the patient’s illness or injury and the subjective evaluation of the patient’s and family’s financial situation after paying treatment fees affect the final decision on the (...) treatment process. Bayesian Mindsponge Framework (BMF) analytics were employed to analyze a dataset of 1042 Vietnamese patients. We found that the more serious the illnesses or injuries of patients were, the more likely they were to choose to quit treatment if they perceived that paying the treatment fees heavily affected their families’ financial status. Particularly, only one in four patients with the most serious health issues who thought that continuing the treatment would push themselves and their families into destitution would decide to continue the treatment. Considering the information-filtering mechanism using subjective cost–benefit judgments, these patients likely chose the financial well-being and future of their family members over their individual suffering and inevitable death. Our study also demonstrates that mindsponge-based reasoning and BMF analytics can be effective in designing and processing health data for studying extreme psychosocial phenomena. Moreover, we suggest that policymakers implement and adjust their policies (e.g., health insurance) following scientific evidence to mitigate patients’ likelihood of making “near-suicide” decisions and improve social equality in the healthcare system. (shrink)

Numerous high-profile ethics scandals, rising inequality, and the detrimental effects of climate change dramatically underscore the need for business schools to instill a commitment to social purpose in their students. At the same time, the rising financial burden of education, increasing competition in the education space, and overreliance on graduates’ financial success as the accepted metric of quality have reinforced an instrumentalist climate. These conflicting aims between social and financial purpose have created an existential crisis for (...) business education. To resolve this impasse, we draw on the concept of moral self-awareness to offer a system-theoretical strategy for crowding-in a culture of ethics within business schools. We argue that to do so, business schools will need to (1) reframe the purpose of business, (2) reframe the meaning of professional success, and (3) reframe the ethos of business education itself. (shrink)

Current health care standards, in many countries, Australia included, are regrettably poor. Surprisingly, practitioners and treating teams alike in mental health and disability sectors, in particular, make far too many basic care-related mistakes, in addition to the already abundant diagnostic mistakes that cause and amplify great harm. In part, too many practitioners also fail to distinguish adverse effects for what they are and all too often treat adverse effects, instead, as comorbidities. Diagnostic failures are dangerous, the result of which generates (...) and perpetuates harms that are extremely costly in terms of patient welfare, in addition to the financial burden placed on everyone. In this essay, I contend that the authority bestowed upon psychiatry is misplaced. Subsequently, this misplaced authority affects the governing and investigatory institutions reliant and informed by psychiatry. The examination process undertaken in this investigation traces the metaphysics of psychiatric disorders relative to the Diagnostic-Statistical-Manual (DSM) in all its iterations and to the epistemological construction process that serves to underpin the fundamentals of psychiatric practice. There exists a crisis of confidence in psychiatric practice and I urge drastic reform be undertaken to arrest the damage. (shrink)

For many employees, ‘work’ is no longer something performed while sitting at a computer in an office. Employees in a growing number of industries are expected to carry mobile devices and be available for work-related interactions even when beyond the workplace and outside of normal business hours. In this article it is argued that a future step will increasingly be to move work-related information and communication technology (ICT) inside the human body through the use of neuroprosthetics, to create employees who (...) are always ‘online’ and connected to their workplace’s digital ecosystems. At present, neural implants are used primarily to restore abilities lost through injury or illness, however their use for augmentative purposes is expected to grow, resulting in populations of human beings who possess technologically altered capacities for perception, memory, imagination, and the manipulation of physical environments and virtual cyberspace. Such workers may exchange thoughts and share knowledge within posthuman cybernetic networks that are inaccessible to unaugmented human beings. Scholars note that despite their potential benefits, such neuroprosthetic devices may create numerous problems for their users, including a sense of alienation, the threat of computer viruses and hacking, financial burdens, and legal questions surrounding ownership of intellectual property produced while using such implants. Moreover, different populations of human beings may eventually come to occupy irreconcilable digital ecosystems as some persons embrace neuroprosthetic technology, others feel coerced into augmenting their brains to compete within the economy, others might reject such technology, and still others will simply be unable to afford it. In this text we propose a model for analyzing how particular neuroprosthetic devices will either facilitate human beings’ participation in new forms of socioeconomic interaction and digital workplace ecosystems – or undermine their mental and physical health, privacy, autonomy, and authenticity. We then show how such a model can be used to create device ontologies and typologies that help us classify and understand different kinds of advanced neuroprosthetic devices according to the impact that they will have on individual human beings. (shrink)

Due to the Coronavirus Disease-2019 (COVID-19) lockdown implemented by the government, we had to transform our classes into the online sphere. The most commonly used methods of online teaching in Government Medical College, Thrissur were, live online lectures, PowerPoint presentations with narrations, prerecorded videos and assignments. Aim: To assess the logistical aspects, merit and demerits of different online teaching-learning methods among phase-1 medical student in a tertiary care teaching hospital during COVID-19 lockdown Materials and Methods: This cross-sectional study was conducted (...) from July 2020 to September 2020, among phase-1 MBBS students of Government Medical College, Thrissur, Kerala, India. Data was collected from 161 students through a questionnaire consisting of two parts. The first part dealt with logistical aspects, like net connectivity, gadget, expenditure, financial burden, residence and eye strain with online teaching learning methods. The second part dealt with the merits and demerits of each type of teaching learning methods, according to the students. All statistical data was analysed using the Statistical Package for the Social Sciences (SPSS) software version 16. Qualitative data was expressed as a percentage. Results: A total of 97.5% population of students was able to frequently access the online classes. Online learning strained the eyes of 47.8% of students. Mobile phones were used by 92.5% of students for attending online classes internet connectivity was mainly through 4G (71.4%) followed by Wi-Fi (19.9%) connections. Their most preferred method of online learning was online live lectures (35.4%) followed by PowerPoint presentations with narrations (33.5%). Blended learning (online and traditional together) was best preferred method of learning (46.6%). Conclusion: Live online lectures and blended learning were preferred by the majority of students. Thus, the online classes can be continued along with the traditional teaching in future. (shrink)

An estimated 65 million people have been forced to flee their homelands in the last few years. Average length of displacement for a refugee is now estimated at 17 years. A whole generation of young people are forced to spend their whole youth in refugee camps and can only be educated there. On the other side the international community is strongly underfinancing any education efforts by aid agencies and international organizations. So, it is common that classes have as many as (...) 100 children and teachers must deal with inevitable language barriers. We also have to remember that most children are traumatized by their experiences of fleeing their homes. Whereas the focus of most efforts is aimed at primary education it should not be forgotten that it is also necessary to support older children even up to higher education. A lot of the refugee adolescents have to support their families through activities that make education impossible. According to the UNHCR, more than 3.5 million refugee children do not have the chance to attend an appropriate school education. The inclusion of refugees in the national education systems of their host countries is a promising way of softening the challenges but the financial burden is too heavy to be carried without substantial support from the international community. Unfortunately, this is still dramatically lacking. Seeing these challenges in the world’s toughest classrooms we need to be aware that missing this opportunity to help and educate these traumatized children will fuel the feelings of being disadvantaged and forgotten by the rest of the world. Such feelings are smoothening the way for disaffection and they may become lured to be part of religious extremist organizations if not sufficiently addressed by providing sufficient infrastructure and finances for proper primary and secondary education. (shrink)

Vietnamese media keep telling the public about the problem of rising financial burdens caused by interest rates and shrinking funds availability, pushing many non-financial SMEs to the verge of collapse. However, little attention was paid to the issue of rising inventories at manufacturing and processing firms, which potentially could lead to more emergent and apparent risks.

The authors of the book have come to the conclusion that it is necessary to effectively use the methodological tools for assessing the competitiveness of financial and insurance markets, methodological approaches to assessing the effectiveness of regional policy, internal audit of resources. Basic research is aimed at researching the main trends in the international economy, socialization of global economic development, investment aspects of development countries, functioning of consumer market in the international economic system, trends of international population migration, processes (...) of European integration in the field of energy efficiency. The research results have been implemented in the different models of the behavior of the economic system in the conditions of crisis, provision competitiveness of national economy in the face of increasing burden of public debt. The results of the study can be used in decision-making at the level of international business, ministries and departments that regulate international relations, ensuring security and overcoming risks. The results can also be used by students and young scientists in modern concepts of the formation of international economic relations in the context of strengthening European integration processes and globalization of the economy. (shrink)

This study explores entrepreneurship research in Vietnam, a lower-middle-income country in Southeast Asia that has witnessed rapid economic growth since the 1990s but has nonetheless been absent in the relevant Western-centric literature. Using an exclusively developed software, the study presents a structured dataset on entrepreneurship research in Vietnam from 2008 to 2018, highlighting: low research output, low creativity level, inattention to entrepreneurship theories, and instead, a focus on practical business matters. The scholarship remains limited due to the detachment between the (...) academic and entrepreneur communities. More important are the findings that Vietnamese research on entrepreneurship, still in its infancy, diverges significantly from those in developed and emerging economies in terms of their content and methods. These studies are contextualized to a large extent to reflect the concerns of a developing economy still burdened by the high financial and nonfinancial costs. (shrink)

In this chapter, it is argued that some animal shelters fulfill the conditions that make triage protocols necessary, namely, the operation with limited financial budgets, space, medical resources, and staff. It is suggested that requirements presented for triage in humans can be fruitfully applied to the context of animal shelters. The focus lies on the criteria of maximizing benefit, justice, medical criteria, life-span considerations, fair decision-making, patient will, re-evaluation of triage decisions and changes in the therapeutic goal, and (...) class='Hi'>burden of triage and staff support. The establishment of triage protocols for shelters will make the decision-making process less arbitrary, fairer, and more transparent. Furthermore, it is argued that, in situations where disagreement persist among shelter staff, an external Ethics Board could be called in to help analyze and potentially resolve some of the remaining ethical issues. (shrink)

How is the burden of proof to be distributed among individuals who are involved in resolving a particular issue? Under what conditions should the burden of proof be distributed unevenly? We distinguish attitudinal from dialectical burdens and argue that these questions should be answered differently, depending on which is in play. One has an attitudinal burden with respect to some proposition when one is required to possess sufficient evidence for it. One has a dialectical burden with (...) respect to some proposition when one is required to provide supporting arguments for it as part of a deliberative process. We show that the attitudinal burden with respect to certain propositions is unevenly distributed in some deliberative contexts, but in all of these contexts, establishing the degree of support for the proposition is merely a means to some other deliberative end, such as action guidance, or persuasion. By contrast, uneven distributions of the dialectical burden regularly further the aims of deliberation, even in contexts where the quest for truth is the sole deliberative aim, rather than merely a means to some different deliberative end. We argue that our distinction between these two burdens resolves puzzles about unevenness that have been raised in the literature. (shrink)

It is crucial to actively detect the risks of transactions in a financial company to improve customer experience and minimize financial loss. In this study, we compare different machine learning algorithms to effectively and efficiently predict the legitimacy of financial transactions. The algorithms used in this study were: MLP Repressor, Random Forest Classifier, Complement NB, MLP Classifier, Gaussian NB, Bernoulli NB, LGBM Classifier, Ada Boost Classifier, K Neighbors Classifier, Logistic Regression, Bagging Classifier, Decision Tree Classifier and Deep (...) Learning. The dataset was collected from Kaggle depository. It consists of 6362620 rows and 10 columns. The best classifier with unbalanced dataset was the Random Forest Classifier. The Accuracy 99.97%, precession 99.96%, Recall 99.97% and the F1-score 99.96%. However, the best classifier with balanced dataset was the Bagging Classifier. The Accuracy 99.96%, precession 99.95%, Recall 99.98% and the F1-score 99.96%. (shrink)

This article presents a new model for valuing financial contracts subject to credit risk and collateralization. Examples include the valuation of a credit default swap (CDS) contract that is affected by the trilateral credit risk of the buyer, seller and reference entity. We show that default dependency has a significant impact on asset pricing. In fact, correlated default risk is one of the most pervasive threats in financial markets. We also show that a fully collateralized CDS is not (...) equivalent to a risk-free one. In other words, full collateralization cannot eliminate counterparty risk completely in the CDS market. (shrink)

In order to perform certain actions – such as incarcerating a person or revoking parental rights – the state must establish certain facts to a particular standard of proof. These standards – such as preponderance of evidence and beyond reasonable doubt – are often interpreted as likelihoods or epistemic confidences. Many theorists construe them numerically; beyond reasonable doubt, for example, is often construed as 90 to 95% confidence in the guilt of the defendant. -/- A family of influential cases suggests (...) standards of proof should not be interpreted numerically. These ‘proof paradoxes’ illustrate that purely statistical evidence can warrant high credence in a disputed fact without satisfying the relevant legal standard. In this essay I evaluate three influential attempts to explain why merely statistical evidence cannot satisfy legal standards. (shrink)

I argue that epistemic failings are a significant and underappreciated moral hazard in the financial services industry. I argue further that an analysis of these epistemic failings and their means of redress is best developed by identifying policies and procedures that are likely to facilitate good judgment. These policies and procedures are “best epistemic practices.” I explain how best epistemic practices support good reasoning, thereby facilitating accurate judgments about risk and reward. Failures to promote and adhere to best epistemic (...) practices contributed to the 2008 financial crisis. I identify and discuss some of the ways in which best epistemic practices were violated in the events that led to the crisis, with a focus on the role of the credit rating agencies. I go on to discuss some of the ways in which these failings have been redressed. I conclude by observing how proactive regulation for best epistemic practices might help us to anticipate and avoid future crises. (shrink)

A classic objection to act-consequentialism is that it is overdemanding: it requires agents to bear too many costs for the sake of promoting the impersonal good. I develop the complementary objection that act-consequentialism is underdemanding: it fails to acknowledge that agents have moral reasons to bear certain costs themselves, even when it would be impersonally better for others to bear these costs.

Most business in the Philippines is mostly in the microenterprise. Hence, this research was accomplished in order to assess the effectiveness of financial management practices of microenterprises in Quezon City. The city was selected as the locale of the research since there were various microenterprises built in this location. The respondents were classified according to the number of years in operation of their business, the number of employees, capitalization, and their source of funds. Additionally, the individual profile was also (...) classified into their age, highest educational attainment, and the number of seminars or trainings related to their business that they had attended. The assessment was specified into aspects of financial planning, financial control, and cash management. The result shows that most businesses were newly established and only operating for zero (0) to two (2) years. The result also showed that most of the respondents only had a capitalization of PHP 100,000.00 and they were utilizing their personal savings as a source of funds. Most of them are aged from twenty-one (21) to thirty (30) years with no bachelor’s degrees. They only attended seminars and training less than three (3) times. The result of this study was beneficial to business owners, local government units, government, government agencies, banks, and other financial institutions, academe, and future researchers. (shrink)

The concept of burden of proof is used in a wide range of discourses, from philosophy to law, science, skepticism, and even in everyday reasoning. This paper provides an analysis of the proper deployment of burden of proof, focusing in particular on skeptical discussions of pseudoscience and the paranormal, where burden of proof assignments are most poignant and relatively clear-cut. We argue that burden of proof is often misapplied or used as a mere rhetorical gambit, with (...) little appreciation of the underlying principles. The paper elaborates on an important distinction between evidential and prudential varieties of burdens of proof, which is cashed out in terms of Bayesian probabilities and error management theory. Finally, we explore the relationship between burden of proof and several (alleged) informal logical fallacies. This allows us to get a firmer grip on the concept and its applications in different domains, and also to clear up some confusions with regard to when exactly some fallacies (ad hominem, ad ignorantiam, and petitio principii) may or may not occur. (shrink)

We aim to establish the following claim: other factors held constant, the relative weights of the epistemic burdens of competing treatment options serve to determine the options that patient surrogates pursue. Simply put, surrogates confront an incentive, ceteris paribus, to pursue treatment options with respect to which their knowledge is most adequate to the requirements of the case. Regardless of what the patient would choose, options that require more knowledge than the surrogate possesses (or is likely to learn) will either (...) be neglected altogether or deeply discounted in the surrogate’s incentive structure. We establish this claim by arguing that the relation between epistemic burdens and incentives in decision-making is a general feature of surrogate decision-making. After establishing the claim, we draw out some of the implications for surrogate decision-making in medicine and offer philosophical and psychological explanations of the phenomenon. (shrink)

Before the Doi Moi reforms in 1986, Viet Nam’s economy was devastated by 30 years of warfare with two major military powers, France and the US, ending in 1975. In the subsequent 10 years, Viet Nam suffered from failing economic experiments, including agricultural cooperatization, “industry-commerce rehabilitation,” price-wage-currency reform, among others, under the centrally planned mechanism (Wood 1989), as well as the international isolation and a US trade embargo when its troops entered Cambodia to overthrow the Khmer Rouge (Riedel and Turley (...) 1999). Its per-capita gross domestic product (GDP) declined to USD 97 in 1989 whereas the ratio of external debt to GDP reached 330%. 1 The economy languished and became one of the poorest in the world (VGP 2016). (shrink)

The World Trade Organization (WTO) is one of the best dispute settlement mechanisms in the world. Under WTO rules, aggrieved parties must establish a “prima facie” case before the panel can call on the offending party to respond to the claims. The objective of the present study is to critically evaluate the application of the concept of burden of proof underWTOdispute settlement mechanism.

The study aimed to determine the personal financial management practices among selected personnel of the Bureau of the Treasury – Central Office. It used the descriptive method of gathering data. The respondents of the study consisted of 183 personnel from 35 divisions of the Bureau and selected through simple random probability sampling technique. The study shown that most of the respondents aged 26 to 35 years old, female, single, bachelor’s degree holder, rank and file workers, permanent employees, have been (...) in the agency for 5 years and below and with monthly compensation ranging from P15,001 – P30,000. In terms of financial planning, most of the respondents set their short and long-term financial goals. In terms of money management, most of the respondents saved so that they do not need to borrow from others. In terms of income and asset protection, most of the respondents considered uncertainties for their future. And in terms of investments, most of the respondents purchased government securities. The researcher recommended to utilize various social media platforms as an avenue for financial planning, start considering the use of credit management in the acquisition of their needs, understand the need of acquiring non-life insurance and start familiarizing themselves in the concept of the derivatives market. Also, the Bureau of the Treasury should initiate seminars/webinars about how to start writing a financial plan, effective ways in managing finances, the vital role of insurance and estate planning, and possible ways in earning money when investing on securities and derivatives. (shrink)

Berger (forthcoming) states that moral intimacy is important in applying the best interests standard. But what he calls moral intimacy requires that someone has overcome epistemic burdens needed to represent the patient. We argue elsewhere that good surrogate decision-making is first and foremost a matter of overcoming epistemic burdens, or those obstacles that stand in the way of a surrogate decision-maker knowing what a patient wants and how to satisfy those preferences. Berger’s notion of moral intimacy depends on epistemic intimacy: (...) the fact that a surrogate's epistemic burdens with respect to the best interests of the incapacitated patient have been adequately surmounted, plus some other feature. Thus, where a particular patient-surrogate relationship fails to be morally intimate, what is lacking is either epistemic intimacy or this second feature. Furthermore, Berger uses the notion of moral intimacy as an explanans for the application of the best interests standard. We argue that the notions of epistemic intimacy and epistemic burdens not only help to explain the notion of moral intimacy, but also better explain the application of the best interests standard. Given the role of epistemic burdens and the epistemic intimacy that overcoming them enables, bioethicists and physicians should consider a surrogate’s epistemic standing relative to the patient’s best interests before pronouncing on the former’s ethical probity. (shrink)

To what extent are questions of sovereign debt a matter for political rather than scientific or moral adjudication? We answer that question by defending three claims. We argue that (i) moral and technocratic takes on sovereign debt tend to be ideological in a pejorative sense of the term, and that therefore (ii) sovereign debt should be politicised all the way down. We then show that this sort of politicisation need not boil down to the crude Realpolitik of debtor-creditor power relations—a (...) conclusion that would leave no room for normative theory, among other problems. Rather, we argue that (iii) in a democratic context, a realist approach to politics centred on what Bernard Williams calls ‘The Basic Legitimation Demand’ affords a deliberative approach to the normative evaluation of public debt policy options. (shrink)

Financial gerontology can be defined as investigating relations between finances and aging. Authors such as Neal E. Cutler, Kouhei Komamura, Davis W. Gregg, Shinya Kajitani, Kei Sakata, and Colin McKenzie affirm that financial literacy is an effect of aging with concern about the issue of finances, as well as stating that it is the effect of longevity and aging on economies or the financial resilience of older people.

Financial gerontology can be defined as investigating relations between finances and aging. Authors such as Neal E. Cutler, Kouhei Komamura, Davis W. Gregg, Shinya Kajitani, Kei Sakata, and Colin McKenzie affirm that financial literacy is an effect of aging with concern about the issue of finances, as well as stating that it is the effect of longevity and aging on economies or the financial resilience of older people.

Following John Rawls, nonideal theory is typically divided into: (1) “partial-compliance theory” and (2) “transitional theory." The former is concerned with those circumstances in which individuals and political regimes do not fully comply with the requirements of justice, such as when people break the law or some individuals do not do their fair share within a distributive scheme. The latter is concerned with circumstances in which background institutions may be unjust or may not exist at all. This paper focuses on (...) issues arising in transitional theory. In particular, I am concerned with what Rawls’ has called “burdened societies," that is, those societies that find themselves in unfavorable conditions, such that their historical, social or economic circumstances make it difficult to establish just institutions. The paper investigates exactly how such burdened societies should proceed towards a more just condition in an acceptable fashion. Rawls himself tells us very little, except to suggest that societies in this condition should look for policies and courses of action that are morally permissible, politically possible and likely to be effective. In this paper I first try to anticipate what a Rawlsian might say about the best way for burdened societies to handle transitional problems and so move towards the ideal of justice. Next, I construct a model of transitional justice for burdened societies. Ultimately, I argue for a model of transitional justice that makes use of a nonideal version of Rawls’ notion of the worst-off representative person. (shrink)

The one-side defaultable financial derivatives valuation problems have been studied extensively, but the valuation of bilateral derivatives with asymmetric credit qualities is still lacking convincing mechanism. This paper presents an analytical model for valuing derivatives subject to default by both counterparties. The default-free interest rates are modeled by the Market Models, while the default time is modeled by the reduced-form model as the first jump of a time-inhomogeneous Poisson process. All quantities modeled are market-observable. The closed-form solution gives us (...) a better understanding of the impact of the credit asymmetry on swap value, credit value adjustment, swap rate and swap spread. (shrink)

In the beginning of the 1970s, Michel Foucault dismisses the terminology of ‘exclusion’ for his projected analytics of modern power. This rejection has had major repercussions on the theory of neoliberal subject-formation. Many researchers disproportionately stress how neoliberal dispositifs produce entrepreneurial subjects, albeit in different ways, while minimizing how these dispositifs sometimes emphatically refuse to produce neoliberal subjects. Relying on Saskia Sassen’s work on financialization, I argue that neoliberal dispositifs not only apply entrepreneurial norms, but also suspend their application for (...) groups that threaten to harm the population’s profitability. Neoliberal dispositifs not only produce entrepreneurial subjects, but also surplus populations that are expelled from the overall population to maintain its productivity. Here, the concept of ‘exclusion’ is appropriate if understood in Agamben’s sense of an inclusive exclusion. The surplus population is part of neoliberal dispositifs, but only as the element to be abandoned. (shrink)

In this chapter, my main aim is to explore some of the central moral critiques of international financial institutions as well as proposals to overcome the moral problems that they face.

In recent years, feminist scholarship on emotional labor has proliferated. I identify a related but distinct form of care labor, hermeneutic labor. Hermeneutic labor is the burdensome activity of: understanding and coherently expressing one’s own feelings, desires, intentions, and movitations; discerning those of others; and inventing solutions for relational issues arising from interpersonal tensions. I argue that hermeneutic labor disproportionately falls on women’s shoulders in heteropatriachal societies, especially in intimate relationships between women and men. I also suggest that some of (...) the gendered burdens of emotional labor that feminist scholars point out would better be described as hermeneutic labor. Drawing on feminist philosophy as well as findings from social psychology and sociology, I argue that the exploitation of women’s hermeneutic labor is a pervasive element of what Sandra Bartky calls the ‘micropolitics’ of intimate relationships. The widespread expectation that women are relationship maintenance experts, as well as the prevalence of a gendered demand-withdraw pattern of communication, leads an exploitative situation to appear natural or even desirable, even as it leads to women’s dissatisfaction. This situation may be considered misogynistic in Kate Manne’s sense, where misogyny is a property of social environments rather than a worldview. (shrink)

The paper reviewed financial resources which is a critical factor and component of Business Process Re-engineering in achieving academic performance of higher education institutions in the Democratic Republic of Congo. The objective of the study is to examine whether financial resources can contribute to improving and achieving academic performance of higher education institutions in general and students in particular. The study used a systematic literature review and content analysis was to establish the relationship between financial resources and (...) academic performance. The key findings are grouped in three dimensions: 1) financial resources; 2) budget and funding/financial model; 3) tuitions fees, scholarship and loans provision. The study found consistent evidence to show that there is a significant and positive relationship between financial resources and performance of higher education institutions. The study concluded that higher education sector in the Democratic Republic of Congo needs a radical change and fundamental rethinking in improving educational budget processes to meet the needs of the institutions, provision of scholarship and loans processes to students mainly those from poor background and designing innovative financial/funding model to sustain educational institutions. The study is based on academic capitalism theory. The recommendations were made based on the findings of the study. -/- . (shrink)

This study thoroughly investigates the financial behaviors of financially independent, young, single professionals aged 24 to 35 in Balayan, Batangas, amidst a period of global inflation. Focusing on five industries—education, finance, government, healthcare, and retail—the research employs a mixed-methods approach. Quantitative analysis, involving 75 respondents through a 4-point Likert scale survey, is complemented by qualitative insights from in-depth interviews with 5 participants from each industry. The findings from numerical values revealed that demographics did not impact working professionals' saving habits (...) and buying behaviors during the global inflation surge. This suggests that despite differences in age, gender, industry, employment status, and monthly income or salary, all professionals prioritized robust, strong savings and reduced spending to ensure financial stability. The research underscores the significance for professionals in various industries to prioritize specific aspects of personal financial management during the prevailing global inflation surge. The study suggests that, irrespective of industry, working professionals should prioritize specific aspects of personal financial management during the global inflation surge. (shrink)

Although Minsky’s interpretation of Keynes’s macroeconomics and essential message clashes with authoritative alternative interpretations, it has become increasingly influential during the years following the Global Financial Crisis, even in mainstream circles. This paper offers a critical evaluation of Minsky’s Financial Instability Hypothesis from the perspective of the alternative Austro-Wicksellian paradigm. Although some of the similarities and/or analogies between Minsky’s approach and that of the Austrian School suggest a more than merely superficial affinity between the two theoretical frameworks and (...) although some scope for cross-fertilization between both approaches can be found, both theoretically and empirically, at a fundamental conceptual level both theories remain incompatible and difficult if not impossible to reconcile, in particular in terms of fundamental causality and in terms of policy conclusions and prescriptions. Despite the fact that Minsky’s policy conclusions are multifaceted and somewhat eclectic, they manifest a lack of familiarity with the conclusions of the Austrian analysis of the problems of central planning by Big Players such as Big Bank and Big Government. Both approaches also offer contrasting interpretations of the historical experience of the Global Financial Crisis. (shrink)

This paper attempts to assess the economic significance and implications of collateralization in different financial markets, which is essentially a matter of theoretical justification and empirical verification. We present a comprehensive theoretical framework that allows for collateralization adhering to bankruptcy laws. As such, the model can back out differences in asset prices due to collateralized counterparty risk. This framework is very useful for pricing outstanding defaultable financial contracts. By using a unique data set, we are able to achieve (...) a clean decomposition of prices into their credit risk factors. We find empirical evidence that counterparty risk is not overly important in credit-related spreads. Only the joint effects of collateralization and credit risk can sufficiently explain unsecured credit costs. This finding suggests that failure to properly account for collateralization may result in significant mispricing of financial contracts. We also analyze the difference between cleared and OTC markets. (shrink)

The credit crises experienced in the US in year 2008 is labeled as perhaps the most significant crises since the great depression. The roots of the crises were found in the default of the sub-prime mortgages and the failure occurred in both the US and the UK. Due to the integrated nature of international financial systems the spillover impacted many countries as the economies in Asia and Europe were purchasers of the sub-prime mortgages that originated in both UK and (...) US. The impact of the credit crises in Canada is of unique importance due to the close proximity to US, and both the US and Canada being of great strategic importance to each other as well as one of the largest trading partners.Even though the international financial credit crises adversely impacted many countries, the evidence that has come across recent years point towards the conclusion that Canada was able to weather the crises much better than many other countries. (shrink)

In this article Judith Jarvis Thomson's Good Samaritan Argument in defense of abortion in the case of rape is defended from two objections: the Kill vs. Let Die Objection, and the Intend to Kill vs. Merely Foresee Death Objection. The article concludes that these defenses do not defend Thomson from further objections from Peter Singer and David Oderberg.

Gossip is often serious business, not idle chitchat. Gossip allows those oppressed to privately name their oppressors as a warning to others. Of course, gossip can be in error. The speaker may be lying or merely have lacked sufficient evidence. Bias can also make those who hear the gossip more or less likely to believe the gossip. By examining the social functions of gossip and considering the differences in power dynamics in which gossip can occur, we contend that gossip may (...) be not only permissible but virtuous, both as the only reasonable recourse available and as a means of resistance against oppression. (shrink)

Two problems are considered here. One relates to who has moral status, and the other relates to who has moral responsibility. The criteria for mattering morally have long been disputed, and many humans and nonhuman animals have been considered “marginal cases,” on the contested edges of moral considerability and concern. The marginalization of humans and other species is frequently the pretext for denying their rights, including the rights to health care, to reproductive freedom, and to bodily autonomy. There is broad (...) agreement across cultural and philosophical traditions about the capacities and responsibilities of moral agents. I propose an inclusive and expansive way of thinking about moral status, situating it not in the characteristics or capacities of individuals, but in the responsibilities and obligations of moral agents. Moral agents, under this view, are not privileged or entitled to special treatment but rather have responsibilities. I approach this by considering some African communitarian conceptions of moral status and moral agency. I propose that moral agency can also be more expansive and include not just individual moral agents but collective entities that have some of the traits of moral agents: power, freedom, and the capacity to recognize and act on the demands of morality and acknowledge and respect the rights of others. Expanding who and what is a moral agent correspondingly extends moral responsibility for respecting rights and fostering the conditions for the health and well-being of humans and animals onto the collective entities who uniquely have the capacity to attend to global-scale health threats such as pandemics and human-caused climate change. (shrink)

Michael Walzer argues that except in cases involving genocide or mass slaughter, humanitarian intervention is unjustifiable because “citizens get the government they deserve, or, at least, the government for which they are ‘fit.’”Yet, if people are autonomous and deserve the government that rules over them, then it would seem that they are responsible for the government’s actions, including their nation’s wars of aggression.That line of thought undermines the doctrine of noncombatant immunity, which is perhaps the most important of Walzer’s jus (...) in bello principles. In this way, the concept of self-determination frustrates Walzer’s attempts to keep jus ad bellum and jus in bello considerations separate. (shrink)

The objective of this study is to Analyze the Financial Position and Performance of the Axis and Kotak Mahindra Bank in India based on their financial characteristics. We have chosen the CAMEL model and t-test which measures the performance of bank from each of the important parameter like capital adequacy, asset quality, management efficiency, earning quality, liquidity and Sensitivity. The present study is conducted analyze the consistency of the profitability of the Axis and Kotak Mahindra bank’s. It is (...) analyses that the ratio of credit deposit is maximum of Kotak Mahindra Bank Ltd and it shows efficient management of the bank. The ratio of earning per share is maximum for Axis Bank Ltd i.e. 50.28 and the ratio of return on Assets is minimum for Axis Bank Ltd. The CAMELS’ analysis and t-test concludes that there is no significance difference between the Axis and Kotak Mahindra bank’s financial performance but the Kotak Mahindra bank performance is slightly less compared with Axis Bank. (shrink)

This paper aims to study the impact of Crowdfunding financial attributes on entrepreneurship risk taking. This study was applied on Arabic Crowdfunding platforms from all crowdfunding models. The population of the study consists of individuals, entrepreneurs, investors, employees at electronic-crowd funding Arabic platforms. According to last statics at (2018), there are (12) legit Arabic platforms working in this field. Several statistical tools were used for data analysis and hypotheses testing, including reliability Correlation using Cronbach’s alpha, “ANOVA”, Simple Linear Regression. (...) The overall findings of the current paper show that there is a significant statistical impact for financial properties on entrepreneurship and this effect around (25%). Furthermore, the current paper is unique by topic and population as it is the first study on Arabic crowdfunding platforms. (shrink)

The paper proposes two logical analyses of (the norms of) justification. In a first, realist-minded case, truth is logically independent from justification and leads to a pragmatic logic LP including two epistemic and pragmatic operators, namely, assertion and hypothesis. In a second, antirealist-minded case, truth is not logically independent from justification and results in two logical systems of information and justification: AR4 and AR4¢, respectively, provided with a question-answer semantics. The latter proposes many more epistemic agents, each corresponding to a (...) wide variety of epistemic norms. After comparing the different norms of justification involved in these logical systems, two hexagons expressing Aristotelian relations of opposition will be gathered in order to clarify how (a fragment of) pragmatic formulas can be interpreted in a fuzzy-based question-answer semantics. (shrink)

The purpose of the article is to analyze the prerequisites, advantages, problems and prospects for the development of the processes of financial decentralization in Ukraine. Initially, the article reveals the features of the federal and unitary arrangements of states. As research has shown, the principles of fiscal federalism have been increasingly used by unitary states. The legislative and normative legal acts regulating the implementation of the decentralization policy in Ukraine are justified and given. Characteristics of the formation of new (...) structures, such as: united territorial societies and their sources of financing are characterized. Changes in incomes in local budgets as a result of decentralization are analyzed, and their significant growth is observed. The mechanism of horizontal leveling of the tax ability of territories has been developed, which helps to remove imbalances and unevenness, most of the budgets of Ukraine are recipients of budgetary funds, since they receive a basic subsidy. The influence of the development of information technologies on entrepreneurial activity in small towns and villages is determined. Information technology is a tool of points of growth of territories. Decentralization will not gradually increase due to urbanization processes, but will be accompanied by new development mechanisms, where the labor force and the means of production will unite and help create a qualitatively new environment. (shrink)

The main aim of the text is to show how a game of Go (Weiqi, baduk, Igo) can serve as a model representation of the ontological-metaphysical aspect of the actor–network theory (ANT). An additional objective is to demonstrate in return that this ontological-metaphys⁠ical aspect of ANT represented on Go/Weiqi game model is able to highlight the key aspect of this theory—onto-methodological praxis.

Two options are ‘incommensurate’ when neither is better than the other, but they are not equally good. Typically, we will say that one option is better in some ways, and the other in others, but neither is better ‘all things considered’. It is tempting to think that incommensurability is vagueness—that it is (perhaps) indeterminate which is better—but this ‘vagueness view’ of incommensurability has not proven popular. I set out the vagueness view and its implications in more detail, and argue that (...) it can explain most of the puzzling features of incommensurability. This argument proceeds without appeal to John Broome’s ‘collapsing principle’. (shrink)