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Like identical twins, philosophy and history seem to be tied together in an uneasy way. On the one hand, philosophy is very concerned to engage with the history of philosophy. There are not many other branches of knowledge so preoccupied with continually referring back to their own 'classics'. On the other hand, quite a few of these classical authors did not hold history in high esteem. Aristotle, as is well known, even preferred drama to history, arguing that the latter merely concerned contingent issues. The marriage between history and philosophy quite often results in monsters like Hegelian philosophy of history: grand narratives that are all too easy to criticize and to debunk. If we want to better understand this complex relationship between philosophy and history, it might be worth turning to the German philosopher Hans Blumenberg.
In the retrospect of almost a decade, the year 2015 seems to offer at least two openings which can help us better understand and localize the "end of theory" narratives that began to take hold sometime around the end of the millennium. Rita Felski's much-discussed and much-maligned 2015 book, "The Limits of Critique", construed the long history of "critique" as largely continuous with the more recent (postwar) idea of "theory," which allowed her to question the presupposed progressivity and utility of the dominant critical-theoretical discourses of late 20th-century North American academia. In the same year, Philipp Felsch's "Der lange Sommer der Theorie" (which was recently published in English as "The Summer of Theory") went so far as to assign specific dates, 1960–1990, and tended to define theory not as a purely academic product, but as a much wider cultural movement. Between the two books, questions of the difference between theory and critique, their specific institutional locus within and beyond academia, became objects of acute concern.
In present-day Germany, research on postwar academia, up through the 1960s and beyond, requires no special justification. But from the North American side, the point of this scholarly activity - including the many new editions and a flood of archive-based publications - is much less obvious. For the most well-established figures of the period, the primary international canonizations were already part of the first waves of the reception, the theoretical tectonics established themselves accordingly, and the theories were established as theories - which are in many quarters presumed to be just as reliable today as they were decades ago. One might say that the international and North American reception of European theory has manifested an overall tendency toward sedimentation, while the dynamic of scholarly research about theory, including the archival unearthing of new sources, tends to complicate and undermine the established corpus of "primary texts."
A trio of themes recur across prominent Western theories of laughter: violence, the human/nonhuman, and error. The paper traces this trio through a series of frequently cited paradigms for understanding laughter, including superiority, incongruity and relief theories, Henri Bergson's theory of laughter and V. S. Ramachandran's false alarm theory; and argues that it reflects a shared, if partially submerged concern with the instability and demise of a particular figure of the human, one that is circumscribed by the culturally specific (if globally influential) values of Eurocentric/Western thought, largely corresponding to Sylvia Wynter's 'Man'. This suggests that laughter has an ambiguous immanent potential for both undermining and/or reasserting, de- and/or restabilising the illusion of Man's universalizing drive to identify itself with the human per se.
Rezension zu Peter Salmon, "An Event, Perhaps. A Biography of Jacques Derrida", London / New York: Verso, 2020.
When performance measures are used for evaluation purposes, agents have some incentives to learn how their actions affect these measures. We show that the use of imperfect performance measures can cause an agent to devote too many resources (too much effort) to acquiring information. Doing so can be costly to the principal because the agent can use information to game the performance measure to the detriment of the principal. We analyze the impact of endogenous information acquisition on the optimal incentive strength and the quality of the performance measure used.
Empirical evidence suggests that even those firms presumably most in need of monitoringintensive financing (young, small, and innovative firms) have a multitude of bank lenders, where one may be special in the sense of relationship lending. However, theory does not tell us a lot about the economic rationale for relationship lending in the context of multiple bank financing. To fill this gap, we analyze the optimal debt structure in a model that allows for multiple but asymmetric bank financing. The optimal debt structure balances the risk of lender coordination failure from multiple lending and the bargaining power of a pivotal relationship bank. We show that firms with low expected cash-flows or low interim liquidation values of assets prefer asymmetric financing, while firms with high expected cash-flow or high interim liquidation values of assets tend to finance without a relationship bank. JEL - Klassifikation: G21 , G78 , G33
Theory's engagement with language on the one hand, with literature's potential to generate knowledge that is theoretically relevant on the other, has a long history. One of its roots lies in the approach to culture and society developed by enlightenment anthropology and philosophy. In this paper Christian Moser intends to analyze the function attributed to language in eighteenth-century theories of the origin of culture and society. What we nowadays call 'cultural theory' is genealogically related to these early investigations into the constitution of human society. Social theories of the enlightenment first emerged in the contexts of a secularized universal history and the nascent discourses of anthropology and the philosophy of history. They often took the form of a 'conjectural history': speculations about the origin of society and its institutions; the origin of government, of law, and of social inequality; all of them linked systematically to the origin of language. While present-day cultural theory no longer harbours this obsession with origins, it still carries with it a rich legacy of enlightenment thought, not least its idea that social structure and linguistic structure are interconnected. Therefore it seems apposite to trace back current 'languages of theory' to eighteenth-century 'theories of language' and their interplay with 'theories of society.'
Invitation, to exi(s)t
(2024)
This joint piece aspires to be a dialogue. In a dialogue, people speak and, most importantly, listen, from their respective positions. Drawing from Trinh T. Minh-ha's notion of speaking nearby, Dulley and Streva reflect on the relationship between authorship, authority, and authoritarianism; the parallel between listening and reading, on the one hand, and speaking and writing, on the other hand; the entanglement between disciplinary systems of knowledge and colonial structures of power; the opacity of others and the imperialistic drive to reduce them to transparency; the supposed subject of knowledge and the void. As they converse on these matters, they speak nearby authors from both the so-called Global South and the so-called Global North who are thus juxtaposed, further developed, and displaced towards a politics and ethics of fugitivity. What follows is an invitation to exi(s)t.
We consider three sets of phenomena that feature prominently - and separately - in the financial economics literature: conditional mean dependence (or lack thereof) in asset returns, dependence (and hence forecastability) in asset return signs, and dependence (and hence forecastability) in asset return volatilities. We show that they are very much interrelated, and we explore the relationships in detail. Among other things, we show that: (a) Volatility dependence produces sign dependence, so long as expected returns are nonzero, so that one should expect sign dependence, given the overwhelming evidence of volatility dependence; (b) The standard finding of little or no conditional mean dependence is entirely consistent with a significant degree of sign dependence and volatility dependence; (c) Sign dependence is not likely to be found via analysis of sign autocorrelations, runs tests, or traditional market timing tests, because of the special nonlinear nature of sign dependence; (d) Sign dependence is not likely to be found in very high-frequency (e.g., daily) or very low-frequency (e.g., annual) returns; instead, it is more likely to be found at intermediate return horizons; (e) Sign dependence is very much present in actual U.S. equity returns, and its properties match closely our theoretical predictions; (f) The link between volatility forecastability and sign forecastability remains intact in conditionally non-Gaussian environments, as for example with time-varying conditional skewness and/or kurtosis.