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Global Economic Recession
Numerous accounts have been made to explain the causes of this great financial disaster. There are a number of compounded factors that has resulted in the outbreak of this financial crisis of enormous proportions. Collapse of the US housing market, highly leveraged financial transactions and a low interest rate encouraging borrowings, among others, have all contributed to the downturn in the global financial market. Let us now look at these various causes in greater detail.
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  Ancient Greek Ethics
Ancient Greek Ethical Thought
The Homeric world is an unstable and disorderly system, and Homeric society is also unstable and disorderly. A society is fairly stable in so far as it maintains some agreed rules and practices, and the members of that society observe them. But in Homer the prevailing moral outlook provokes competition, conflict, and aggression. Homer is not indifferent to law and justice. Odysseus contrasts justice with savagery; and the Cyclopes who lack justice lack the basic institutions of social and political life. For Hesiod justice and law are the distinctively human institutions that prevent us from preying on each other like beasts; they give human beings their best hope of preservation. In Homer and Hesiod, however, the prospects for justice are insecure and precarious. The naturalists agree in looking for order in the world as a whole; and some of them probably also share a distinctive ethical outlook that especially values law and justice.
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  Aristotle
Aristotle
Aristotle (384 BC - March 7, 322 BC) was an ancient Greek philosopher. Along with Plato, he is often considered to be one of the two most influential philosophers in Western thought. He wrote many books about physics, poetry, zoology, logic, government, and biology. The three most influential ancient Greek philosophers were Aristotle, Plato (a teacher of Aristotle) and Socrates (ca. 470 BC-399 BC), whose thinking deeply influenced Plato. Among them they transformed Presocratic Greek philosophy into the foundations of Western philosophy as we know it. Socrates did not leave any writings, possibly as a result of the reasons articulated against writing philosophy attributed to him in Plato's dialogue Phaedrus. His ideas are known to us only indirectly, through Plato and a few other writers. The writings of Plato and Aristotle form the core of Ancient philosophy. Their works, although connected in many fundamental ways, are very different in both style and substance. Plato mainly wrote philosophical dialogues, that is, arguments in the form of conversations, usually with Socrates as a participant. Though the early dialogues are concerned mainly with methods of acquiring knowledge and most of the last ones with justice and practical ethics, his most famous works expressed a synoptic view of ethics, metaphysics, reason, knowledge and human life. The fundamental idea of Plato is that knowledge gained through the senses is always confused and impure; true knowledge being acquired by the contemplative soul that turns away from the world. To attain such true knowledge, the philosopher must make use of the "royal science" of dialectic. One of the necessary obstacles of dialectic is dialogue itself which guides the interlocutors away from the paths to truth. The soul alone can have knowledge of the Forms, the real essences of things, of which the world we see is but an imperfect copy. Such knowledge has ethical as well as scientific importance. Plato can be called, with qualification, an idealist and a rationalist. Aristotle, by contrast, placed much more value on knowledge gained from the senses and would correspondingly be better classed among modern empiricists. He also achieved a "grounding" of dialectic in the Topics by allowing interlocutors to begin from commonly held beliefs Endoxa; his goal being non-contradiction rather than Truth. He set the stage for what would eventually develop into the scientific method centuries later. Although he wrote dialogues early in his career, no more than fragments of these have survived. The works of Aristotle that still exist today are in treatise form and were, for the most part, unpublished texts. These were probably lecture notes or texts used by his students, and were almost certainly revised repeatedly over the course of years. As a result, these works tend to be eclectic, dense and difficult to read. Among the most important ones are Physics, Metaphysics, Nicomachean Ethics, Politics, De Anima (On the Soul) and Poetics.
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  Bertrand Russell
Bertrand Russell's Philosophy
The work of Bertrand Russell in contemporary philosophy has covered a wide variety of topics, and has attempted to answer many of the problems traditionally associated with philosophy. He has made important contributions to several fields, both in specific results and in new and suggestive hypotheses. The influence of his philosophy is apparent upon any examination of contemporary philosophy, especially in logic, epistemology, logical analysis, and the philosophy of science. However, the very fact that his philosophical interests have covered a wide range makes it difficult to obtain a brief systematic account which will do justice to them.
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  Conceptions of Nature
Ancient Conceptions of Nature
Greek philosopher Anaximander (c. 610-c.540) assumed an original stuff that is 'unbounded' (or 'undefined', apeiron), because it is qualitatively indeterminate. It does not itself have the characteristics of ordinary things (rocks, rivers, and so on) or even of their constituents (earth, water, and so on), but it has the basis of all these in it. To give a rough and partial illustration, we might say that the coal in the earth is neither gas nor coke nor soap nor tar, but it is the basis of them all. Anaximander 'Unbounded' stands in this relation to familiar observable things and stuffs. The ceaseless movement of the Unbounded produces a 'generative source', which is separated from the Unbounded, and in turn produces the four basic opposites--hot and cold, dry and wet--that constitute the different things in the world and underlie all observable processes and changes.
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  Confucianism
Confucian Moral Self Cultivation
Before turning to the seven individual thinkers and their respective theories of self cultivation, let us begin by exploring the more general question of why the Chinese originated and maintained such an enduring concern with the issue of moral self cultivation. For while such a concern with self cultivation is by no means unique, the prominence that this theme has enjoyed throughout different Chinese traditions -- Daoist and Buddhist as well as Confucian -- is distinctive. For example, while certain western thinkers, notably Aristotle, were deeply interested in self cultivation, this was not as central a theme in the western ethical tradition taken as a whole. Western philosophers have been much more concerned with trying to define what the good is and worrying about how, if at all, one can come to know the good. Chinese thinkers have focused instead on the problem of how to become good. Moral self cultivation is one of the most thoroughly and regularly discussed topics among Chinese ethical philosophers. . .
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  Empiricism
Empiricism
Empiricism is the philosophical doctrine that all human knowledge comes at first from senses and experience. Empiricism denies that humans have innate ideas or that anything is knowable prior to any experience. Empiricism is contrasted with continental rationalism, epitomized by Rene Descartes. According to the rationalist, philosophy should be performed via introspection and a priori deductive reasoning. Names associated with empiricism include St. Thomas Aquinas, Aristotle, Thomas Hobbes, Francis Bacon, John Locke, George Berkeley, and David Hume. It is generally regarded as being at the heart of the modern scientific method, that our theories should be based on our observations of the world rather than on intuition or faith; that is, empirical research and a posteriori inductive reasoning rather than purely deductive logic. Empirical is an adjective often used in conjunction with science, both the natural and social sciences, which means the use of working hypotheses which are capable of being disproved using observation or experiment (i.e.: ultimately through experience). In a second sense empirical in science may be synonymous with experimental. In this sense, an empirical result is an experimental observation. In this context, the term semi-empirical or semi-empirical is used for qualifying theoretical methods which use in part basic axioms or postulated scientific laws and empirical (experimental) results. Such methods are opposed to theoretical ab initio methods which are purely deductive and based on first principles. This terminology is particularly important in theoretical chemistry.
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  Ethics of Aristotle
Aristotelian Ethics
Aristotle, like Plato, wants to show how his ethical conclusions imply further consequences about the proper aims of a political community, and about its appropriate form of government. He criticizes Plato for wanting the ideal state to be more unified than a state should be; Plato models the unity of the state on the unity of a single organism, and Aristotle thinks this is entirely the wrong model. He rejects Plato's abolition of private property, complaining that Plato removes the sort of discretion and freedom that is necessary for friendship and generosity: how can I benefit my friends, or be generous to the right causes, if I have no resources at my disposal? Plato makes an equally grave mistake when he concentrates power and political initiative in a small class of philosopher-rulers; Aristotle answers that all the citizens should share in political initiative.
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  Francis Bacon
Francis Bacon
Francis Bacon, 1st Viscount St Albans, KC (22 January 1561 – 9 April 1626) was an English philosopher, statesman, spy, freemason and essayist. He was knighted in 1603, created Baron Verulam in 1618, and created Viscount St Albans in 1621; both peerage titles becoming extinct upon his death. He began his professional life as a lawyer, but he has become best known as a philosophical advocate and defender of the scientific revolution. His works establish and popularize an inductive methodology for scientific inquiry, often called the Baconian method. Induction implies drawing knowledge from the natural world through experimentation, observation, and testing of hypotheses. In the context of his time, such methods were connected with the occult trends of hermeticism and alchemy.
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  Friedrich Nietzsche
Friedrich Wilhelm Nietzsche
Despite the fact that he was a late-nineteenth-century thinker, Friedrich Nietzsche (1844-1900) provided arguments that challenge and undermine many of the assumptions that we still hold dear today. It is difficult for us to imagine a world without common sense, the distinction between truth and falsehood, the belief in some form of morality or an agreement that we are all human. But Nietzsche did imagine such a world and he also argued that we should write and think in such a way that we would realize this world. Nietzsche was not just another philosopher or thinker: he challenged the very concepts of knowledge and thought. More importantly, he insisted that through transforming how we write and think we might transform who we are.
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  Homer
The Importance of Homer
One of the earliest Greek philosophers, Xenophanes, explains that he criticizes Homer because 'from the beginning everyone has learnt according to Homer'. He is right to suggest that Homer (? c. 750 BC) acquired a unique authority. For the Greeks had no Scripture corresponding to the Bible or the Koran; but they had the Iliad and the Odyssey, the two long poems ascribed to Homer. These were not an authoritative text, protected from criticism or expounded by authorized interpreters; and they did not constitute the formal doctrinal standard of any religious system. Still, they were similar to the Bible in so far as many Greeks with some education learnt the Homeric poems; over a millennium after the time of Homer, Augustine still learnt the poems. The Athenians heard them recited in public.
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  Homeric Ethics
Ethics of Homer
The Homeric ethical outlook creates conflicts for those who accept it. Some of the conflicts arise for the individual himself. He has to adjust his conception of his aims and interests to the demands of those who can honour or dishonour him. This may not create a conflict if other people endorse his aims. But the different aims of different individuals may create a conflict between the aims of one individual and the actions approved by others. In such a conflict the individual cannot claim to be following his own values against the expectations of others; for his values attach most importance to the approval of others, and he violates his own values if he fails to be guided by their opinions.
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  Jean Jacques Rousseau
Jean Jacques Rousseau
Together with Montesquieu, Hume, Smith, and Kant among his contemporaries, Rousseau has exerted the most profound influence on modern European intellectual history, perhaps even surpassing anyone else of his day. No other eighteenth-century thinker contributed more major writings in so wide a range of subjects and forms, nor wrote with such sustained passion and eloquence. No one else managed through both his works and his life to excite or disturb public imagination so deeply. Almost alone among the seminal figures of the Enlightenment, he subjected the main currents of the world he inhabited to the most inspired censure, even while channelling their direction, and when French Revolutionary leaders later seized their opportunity to ignite the unity of political practice and theory, it was to his doctrines above all that they professed their allegiance.
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  Knowledge, Morals, and Politics
Plato on Knowledge, Morals, and Politics
To fulfil the main task of describing justice in the individual person, Plato’s Republic also describes justice in a state, and sketches an ideal state embodying justice. In doing this Plato answers some questions raised by Socrates. Though Socrates was suspected of disloyalty to the Athenian democracy, he says he prefers its laws to the less democratic laws of Sparta, Boeotia, and Megara. On the other hand, he attacks the democratic system for its conscious indifference to moral and political knowledge. He denounces democracy as a system that both flatters and moulds the impressionable and irrational impulses of the public, with no concern for people's real interests.
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  Morality and Religion of Socrates
Socratic Morality and Religion
Socrates' argument extends beyond piety to morality in general; for it extends beyond divine authority to other claims to moral authority. If someone says that what is right is what the laws require, we can ask the question Socrates asks Euthyphro. Those who maintain this view make morality an arbitrary creature of law, and free law from moral criticism. Protagoras' conventionalist view, treating morality and justice as a matter of convention, also makes them immune to rational criticism. Against him Socrates implies that in fact we apply some further standard in judging whether a norm or convention is just or not, and that this standard makes conventional norms open to rational criticism.
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  Naturalist Movement
Naturalist Movement in Philosophy
Between the age of Homer (mid- eighth century) and the age of Socrates (late fifth century), the Greeks began systematic rational study of the natural order and the moral order. Aristotle distinguishes those who talk about gods and offer poetic or mythological accounts from those who offer rational accounts that can be seriously studied: The school of Hesiod and all the theologians considered only what was persuasive to themselves, and thought little of us . . . But it is not worth seriously examining the sophistries of mythology, whereas we must interrogate those who present a rational demonstration. He calls the second group 'students of nature' or 'naturalists' (phusiologoi), as opposed to Hesiod and his followers, because they abandon mythology to ask a new question, about the nature (phusis) of things. Aristotle's comments on the 'mythologists' are unsympathetic, indeed unfair; but he has good reason to believe that a new movement began with Thales (c. 625-c.545), 'the originator of this sort of philosophy'. He rightly thinks it is worth his while to conduct a rational discussion with these thinkers.
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  Plato
Plato
Plato (ca. May 21? 427 BC – ca. 347 BC) was an immensely influential classical Greek philosopher, student of Socrates, teacher of Aristotle, writer, and founder of the Academy in Athens. In countries speaking Arabic, Turkish, Persian, or Urdu, he is called Eflatun, which means a spring of water, and, metaphorically, of knowledge. Plato lectured extensively at the Academy but he also wrote on many philosophical issues. The most important writings of Plato are his dialogues; although a handful of epigrams also survive, and some letters have come down to us under his name. We have very good reasons to believe that all the known dialogues of Plato survive; some of the dialogues which the Greeks ascribed to him are considered by the consensus of scholars to be either suspect (e.g., First Alcibiades, Clitophon) or probably spurious (such as Demodocus, or the Second Alcibiades). Socrates is often a character in the dialogues of Plato. It is usually disputed how much of the content and argument of any given dialogue is Socrates' point of view, and how much of it Plato's. However, Plato was without doubt under a strong influence of Socrates' teachings, so many of the ideas presented in his early works were probably shared (at least partially).
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  Socrates
Socrates
The character of Socrates provides an illustration of a historical conundrum. If Socrates ever wrote a single word, it has not survived. As such, the entirety of modern knowledge concerning Socrates must be drawn from a limited number of secondary sources, such as the works of Plato, Aristophanes and Xenophon. Aristophanes was known as a satirist, and so his accounts of Socrates may well be skewed, exaggerated, or totally falsified. Fragmentary evidence also exists from Socrates' contemporaries. Giannantoni, in his monumental work Socratis et Socraticorum Reliquiae collects every scrap of evidence pertaining to Socrates. It includes writers such as Aeschines Socraticus (not the orator), Antisthenes, and a number of others who knew Socrates. Plato, following Greek tradition, appears to have attributed his own ideas, theories, and possibly personal traits, to his mentor. Due to the problems inherent in such sources, all information regarding Socrates should be taken as possibly, but not definitely, true. According to accounts from antiquity, Socrates' father was Sophroniscus, a sculptor, and his mother Phaenarete, a midwife. He was married to Xanthippe, who bore him three sons. By the cultural standards of the time, she was considered a shrew. Socrates himself attested that he, having learned to live with Xanthippe, would be able to cope with any other human being (supposedly), just as a horse trainer accustomed to wilder horses might be more competent than one not. He also saw military action, fighting at the Battle of Potidaea, the Battle of Delium and the Battle of Amphipolis. It is believed, based on Plato's Symposium, that Socrates was decorated for bravery. In one instance he stayed with his wounded friend Alcibiades, and probably saved his life; despite the objections of Alcibiades, Socrates refused any sort of official recognition and instead encouraged the decoration of Alcibiades. During such campaigns, he also showed his extraordinary hardiness, walking without shoes and a coat in winter. It is unclear what exactly Socrates did for a living. He did not work; in Xenophon's Symposium he explicitly states that he devotes himself only to discussing philosophy, and that he thinks this is the most important art or occupation. It is unlikely that he was able to live off of family inheritance, given his father's occupation as an artisan. In the accounts of Plato, Socrates explicitly denies accepting money for teaching; however, Xenophon's Symposium clearly has Socrates state that he is paid by his students, and Aristophanes depicts Socrates as running a school of sophistry with his friend Chaerephon. It is also possible that Socrates survived off of the generosity of his wealthy and powerful friends, such as Alcibiades.
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  Socrates and Plato
Plato and Socrates
Plato (428-347) was born early in the Peloponnesian War, and was a young adult during the last years of the war, when proSpartan oligarchic sentiment grew into open disloyalty to the democracy, and eventually resulted in the rule of the Four Hundred and of the Thirty. Plato's own loyalties were divided; for he was a relative of Charmides, a member of the Thirty, but he was also a disciple of Socrates, and approved of Socrates' dissent from the lawlessness of the Thirty. The Thirty were deposed; but the restored democracy put Socrates to death, and Plato gave up any ambitions he might have had for a political career. He founded his philosophical school, the Academy, in Athens, and remained as its head until his death. Plato wrote dialogues presenting Socratic philosophy in conversational form; and we have already drawn on his earlier dialogues for our account of Socrates. But in Plato's middle and late dialogues, the character 'Socrates' discusses questions of metaphysics, epistemology, and political theory, on which the historical Socrates was silent.
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  The Importance of Aristotle
The Significance of Aristotle
Aristotle's acknowledged influence on his immediate successors, the Stoics and the Epicureans, is less than might be expected; doubts have even been expressed about whether they knew most of Aristotle's works. Though the doubts are probably mistaken, the fact that they could be raised suggests that Aristotle did not become a philosophical authority for philosophers of the next few generations. In fact both Stoics and Epicureans rejected Aristotelian metaphysics for more thoroughly materialist doctrines; and the later Platonists reasserted his defence of form in. thoroughly immaterialist, other-worldly terms, influenced by their reading of Aristotle in the light of their interpretation of Plato. His influence on mediaeval philosophy contrasts sharply with his position in later antiquity. After the rediscovery of Aristotle in the early middle ages, he became the primary authority, 'the Philosopher'; and not only philosophy, but also natural science and theology, were conducted within assumptions taken to be Aristotelian (though often partly influenced by later Platonism).
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  The Importance of Plato
The Significance of Plato
Plato's philosophy consists of a series of sharply presented questions, and of bold, speculative, and incomplete answers to them. He admits the limitations of his knowledge, and before he has worked out his answers in any detail, he moves on to new questions. The Platonic dialogues do not constitute or contain a philosophical system, and in that way they differ from the works of such philosophers as Aristotle, the Stoics, Kant, and Hegel. It is not surprising that Plato has influenced thinkers and movements with different, even opposed, outlooks.
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  Trial of Socrates
Socrates' Trial
Socrates cross-examined other people on moral and political issues. Though he claimed to know nothing about these issues himself, his questions reduced his interlocutors to such confusion and puzzlement that their firmest and most cherished beliefs seemed to waver under Socrates' patient, polite, but insistent and irritating scrutiny. In the Laches the Athenian general Nicias warns his friends that a discussion with Socrates will involve an examination of their whole life: You seem not to know that if you meet Socrates in discussion, you are bound to find that even if you begin by discussing something else, before you are done you will be led around in argument by Socrates, until you are trapped into giving an account of yourself--of how you are living your present life and how you have lived your life in the past. And once you are trapped, Socrates will not let you go until he has tried and tested you thoroughly on each point.
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