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Critical discourse hardly knows a more devastating charge against theories, technologies, or structures than that of being reductive. Yet, expansion and growth cannot fare any better today. This volume suspends anti-reductionist reflexes to focus on the experiences and practices of different kinds of reduction, their generative potentials, ethics, and politics. Can their violences be contained and their benefits transported to other contexts?
A different take on knowledge, history, and totalization is presented in Jamila Mascat's essay 'Hegel and the Ad-venture of the Totality', which aims at exploring the controversial notion of the Hegelian totality. Countering Louis Althusser's critique of Hegel's 'expressive totality', where every part is thought to expresses the whole, it proposes to consider such a speculative figure as a temporalizing instance situated at the entanglement of Knowing and History. Firstly, it illustrates the paradoxical inclination of Hegel's totality to being both complete and a never-ending task. Secondly, it analyses the accomplishment of totality at the peak of the Science of Logic, focusing on the temporal circularity of the Concept ('Begriff'). Thirdly, drawing on the readings of Alexandre Koyré, Alexandre Kojève, and Jean Hyppolite, the essay illustrates the peculiar relation between becoming and eternity that is located at the heart of Hegel's conception of time. Finally, it approaches the last section of the "Phenomenology of Spirit" devoted to Absolute Knowing in order to highlight the twofold movement of seizure ('Begreifen') and release ('Entlassen') that characterizes the activity of the Spirit and that is constitutive of the contingent ad-venture of the totality as a philosophical achievement. In other words, it is by embracing contingency as its limit that Absolute Knowing reaffirms the status of its absoluteness precisely because of its capacity to sacrifice itself and let it go. Critically engaging with Catherine Malabou's reading of plasticity in Hegel, Mascat highlights that Absolute Knowing is a process of totalization that entails cuts and interruptions. The essay shows that the Hegelian totality may be interpreted and actualized as a theoretical construct densely charged with temporal and historical implications: on the one hand, totality expresses a timely standpoint for thought - the standpoint of Hegel's age, which is, as claimed by the philosopher at the end of his "Lectures on the History of Philosophy", 'for the time being completed', as well as the standpoint of the present time to be speculatively accomplished; on the other hand, Hegel's idea of a speculative totalization sets for the philosophies yet to come the never-ending task of constituting and re-constituting wholes.
We present an intertemporal consumption model of consumer investment in financial literacy. Consumers benefit from such investment because their stock of financial literacy allows them to increase the returns on their wealth. Since literacy depreciates over time and has a cost in terms of current consumption, the model determines an optimal investment in literacy. The model shows that financial literacy and wealth are determined jointly, and are positively correlated over the life cycle. Empirically, the model leads to an instrumental variables approach, in which the initial stock of financial literacy (as measured by math performance in school) is used as an instrument for the current stock of literacy. Using microeconomic and aggregate data, we find a strong effect of financial literacy on wealth accumulation and national saving, and also show that ordinary least squares estimates underestate the impact of financial literacy on saving. JEL Classification: E2, D8, G1, J24 Keywords: Financial Literacy, Cognitive Abilities, Human Capital, Saving