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Evolution of Stock Exchanges: From Bruges to Modern Markets

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History of the Stock Exchange

Over 21 years ago, the concept of the stock exchange emerged. Today, less than 1% of businesses remain listed on the market.

Origins and Early Development

There is no definitive agreement on the origin of stock exchanges. The clearest precursor lies in procurement auctions, where goods were sold publicly, with the price determined by existing demand.

An urban legend traces the birth of this concept to the XV century in Bruges. Operations were reportedly closed in the house of a man named Vander Bouse, whose shield featured three bags (of money).

The commercial center shifted from Bruges to Antwerp. In 1527, Charles V of Germany and I of Spain authorized the creation of a stock exchange there.

Later, between 1608 and... Continue reading "Evolution of Stock Exchanges: From Bruges to Modern Markets" »

David Hume's Philosophy: Empiricism, Knowledge, and Metaphysical Critiques

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Hume's Empiricism: Rejecting Innatism

David Hume's philosophy defends the view that all contents of the mind are derived from experience, leading him to reject innatism.

Hume's Theory of Perceptions

Perceptions are the contents of our mind and can be divided into two major classes:

  • Impressions

    Impressions are the immediate, vivid data of experience, irreducible and basic. They are strong perceptions received through the senses.

    • Simple Impressions

      These are feelings that come directly to our understanding and cannot be decomposed into parts.

    • Complex Impressions

      Complex impressions are combinations of simple impressions, but derived from simple ideas.

  • Ideas

    Ideas are copies of impressions in our minds. They are weaker perceptions.

    • Simple Ideas

      These are ideas

... Continue reading "David Hume's Philosophy: Empiricism, Knowledge, and Metaphysical Critiques" »

Foundational Ethical Theories and Philosophical Anthropology

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Ethical Theories and Moral Philosophies

Classical Ethical Theories: Socrates

Socrates laid foundational groundwork for Western ethical thought, emphasizing virtue and moral reasoning.

Eudaimonism: Aristotle's Pursuit of Flourishing

Aristotle championed Eudaimonism, a philosophy centered on achieving human flourishing or well-being. He believed that the ultimate goal of human life is to live well and do well, which leads to happiness.

Hedonism: The Pursuit of Pleasure

Derived from the Greek word "hedone" (pleasure), Hedonism posits that the primary goal of life is to obtain pleasure. Epicurus (Hellenistic period) argued that pleasure is a natural criterion for what is good and desirable, advocating for a life of moderate pleasures and tranquility.... Continue reading "Foundational Ethical Theories and Philosophical Anthropology" »

Foundations of Modern Science: Revolution and Rationalism

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The Scientific Revolution: 15th-17th Centuries

Origins and Early Influences

The Scientific Revolution, spanning the 15th to 17th centuries, found its origins in the Middle Ages. It emerged from a critique of the Aristotelian scholastic interpretation, emphasizing the importance of Platonic mathematics.

Key figures laid the groundwork:

  • Nicholas of Cusa: Proposed an infinite universe, lacking an absolute center, and supported Neoplatonic ideas.
  • Giordano Bruno: Advocated for heliocentrism, further developing Neoplatonic concepts.

Copernicus and the New Cosmic Vision

Nicolaus Copernicus introduced elements that combined an old vision with a new image of the universe. The traditional view considered the universe spherical and adhered to geocentrism. Copernicus,... Continue reading "Foundations of Modern Science: Revolution and Rationalism" »

Nietzsche, Kant, Socrates, and the Roots of Western Culture

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The World Against Chaos: Opposing Forces and Eternal Return

The world against chaos, the irreducible presence of opposing forces and the eternal return, the predominance of consciousness and rationality over the instincts, and the existence of a punitive God with the intention of weakening desires, feelings, the will to power, pride, ambition, the instinctive, the natural, and the passionate, will be collected by Judeo-Christianity, which sets the Jewish character of sin and resentment. The Jewish priest, due to his inability to satisfy their instincts, reverses the true values: good, noble, powerful, happy, and loved by God become miserable, poor, powerless, inferior, suffering, abstinent, sick, and deformed, while good and beloved by God become... Continue reading "Nietzsche, Kant, Socrates, and the Roots of Western Culture" »

Rationalism, Empiricism and Theories of Truth in Philosophy

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Rationalism and Empiricism in Modern Philosophy

The emergence of Rationalism in Europe found its strongest representation in France, Germany, and Holland. Rationalism places human reason at the center of knowledge, positing that the mind is filled with innate ideas—concepts that the human mind develops naturally. For instance, rationalists often cite the ideas of infinity and extension as innate.

For rationalists, the foundation of philosophy is to analyze the origin, truth, and limits of human knowledge. Understanding reality is not a straightforward process, as we are not always directly aware of the ideas we hold regarding reality.

Empiricism: The British Tradition

Empiricism is a major stream of the modern age, represented primarily by British... Continue reading "Rationalism, Empiricism and Theories of Truth in Philosophy" »

Fundamental Rights: Natural, Historical, and Ethical Foundations

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Groundwork of Fundamental Rights

There are several positions regarding the groundwork of fundamental rights:

First Position: Natural Law as the Foundation

This position explicitly accepts natural law as the foundation for fundamental individual rights. It posits that "Man is a being endowed with reason and free will and has an end in itself. Consequently, the true philosophy of the human person rests on transcendent dignity."

Second Position: Rejection of Natural Law

This position rejects natural law as the basis for fundamental human rights. Instead, it argues that man, within the historical development of society, is covered with varying rights and subjected to the flow of history.

1. The Ius Naturalist Foundation

This perspective defines natural... Continue reading "Fundamental Rights: Natural, Historical, and Ethical Foundations" »

The Ontological Argument for God's Existence and Aquinas's Proofs

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Existence of God

The Ontological Argument of St. Anselm

St. Anselm (11th Century) formulated the ontological argument. He argued that the concept of God implies the real existence of God. Anselm posited that God is that than which nothing greater can be conceived. If such a being existed only in the mind, a greater being could be conceived—one existing both in the mind and in reality. Therefore, God must exist in reality.

Criticism by Aquinas

St. Thomas Aquinas argued against this formulation. He asserted that real existence cannot be deduced solely from essence. To know that something exists, we must start from what exists, which we know through the senses. The concept of God is unique because it is considered the *most perfect*; however, Aquinas... Continue reading "The Ontological Argument for God's Existence and Aquinas's Proofs" »

Aristotle's Philosophy of Soul, Virtues, and Happiness

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The Soul and Its Essence

Like Plato, Aristotle believed that humans are composed of body and soul. He viewed the soul as the form of the body, making it the essence of humanity. Aristotle distinguished three types of souls:

  • Vegetative (plants)
  • Sensitive (animals)
  • Rational (humans)

Each type of soul imbues the being with its own tendencies. Humans, possessing a rational soul, are distinguished by their capacity for reason.

Human Activity and its Purpose

Aristotle argued that all human activity aims towards a certain end. He differentiated between praxis, actions performed for their own sake, and poiesis, actions performed for the sake of something external. He posited that the ultimate aim of humanity is eudaimonia, often translated as happiness... Continue reading "Aristotle's Philosophy of Soul, Virtues, and Happiness" »

Plato's Theory of Knowledge and its Ontological Foundations

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The Sensible and Intelligible Worlds

Plato's theory of knowledge is intrinsically linked to his ontological dualism, which distinguishes between the sensible world and the intelligible world. In the ever-changing sensible world, we can only attain doxa (opinion), a sensory-based knowledge that, at best, coincides with reality. This inadequate knowledge, based on perception, satisfies only the ignorant.

The intelligible world, characterized by eternity, immutability, and permanence, offers episteme (true knowledge), providing wisdom and understanding of causes. This is the knowledge sought by the sage, who can demonstrate truth to others.

Levels of Knowledge: The Divided Line

In the Republic's allegory of the divided line, Plato further elaborates... Continue reading "Plato's Theory of Knowledge and its Ontological Foundations" »