Book review: Philosophy and the city: classic to contemporary writings

Book Review: Philosophy and the City: Classic to Contemporary Writings Sharon M. Meagher (Ed.), 2007 Albany, NY: State University of New York Press 309 pp. US$75.50 hardback; US$24.95 paperback ISBN 978 0 7914 7308 5 paperback; 978 0 7914 7307 8 hardback

The sound of a breaking string: critical environmental law and ontological vulnerability

This is a thought-provoking contribution on the space of ontological vulnerability as the awareness of being existentially exposed. This space, conceptualised as a space of ‘the middle’ (as opposed, emphatically, to ‘the centre’) offers an opportunity to think away from the sterile debate on eco/anthropocentricity and from such limiting hierarchies as animal/human, human/environmental, natural/artificial. This new, vulnerable position of the middle allows the reconfiguration of ecological processes, and more specifically the position of environmental law in relation to them. Environmental law now finds itself amidst a new, moving, ‘open ecology’ of social, biological and ecological processes. This is a new, radical conceptualisation of what the author has called ‘critical environmental law,’ based upon an epistemology of observation and an ontology of being part of this open ecology. Environmental law, in this light, is simultaneously reformulated as an invitation to disciplinary and ontological openness and yet a call to remain immanent within existing legal structures. This finds expression in four critical environmental positions that set the stage for the further elaboration of a critical environmental law.

The Triveneto transhumance: law, land, movement

North Italy's nomadic shepherds are a phenomenon unique in the world. Their nomadic nature is taken to the extreme since they move constantly rather than solely in the winter or the summer, as in the usual nomadism. Their home is on wheels and their territory is the tightly regulated yet sprawling Triveneto area. The Triveneto transhumance moves beyond private/public property divides, and indeed beyond lawful/unlawful distinctions, giving rise to what I have called an animal normativity. Relying on Valentina De Marchi's text 'Fame d'Erba' on the Triveneto transhumance, I show how territory becomes a question of animal hunger, and movement becomes an atmospheric, silent and imperceptible affect that crosses private property boundaries, state law limitations, reservation areas and road networks. This way of being, beyond the usual distinctions, offers an example of an alternative political and legal organisation that brings forth the continuum between the human, the natural and the legal/political.

Default Invariance: Naïve Category of Law and Finance

Default invariance is the idea that default does not change at any scale of law and finance. Default is a conserved quantity in a universe where fundamental principles of law and finance operate. It exists at the micro-level as part of the fundamental structure of every financial transaction, and at the macro- level, as a fixed critical point within the relatively stable phases of the law and finance cycle. A key point is that default is equivalent to maximizing uncertainty at the micro-level and at the macro-level, is equivalent to the phase transition where unbearable fluctuations occur in all forms of risk transformation, including maturity, liquidity and credit. As such, default invariance is the glue that links the micro and macro structures of law and finance. In this essay, we apply naïve category theory (NCT), a type of mapping logic, to these types of phenomena. The purpose of using NCT is to introduce a rigorous (but simple) mathematical methodology to law and finance discourse and to show that these types of structural considerations are of prime practical importance and significance to law and finance practitioners. These mappings imply a number of novel areas of investigation. From the micro- structure, three macro-approximations are implied. These approximations form the core analytical framework which we will use to examine the phenomena and hypothesize rules governing law and finance. Our observations from these approximations are grouped into five findings. While the entirety of the five findings can be encapsulated by the three approximations, since the intended audience of this paper is the non-specialist in law, finance and category theory, for ease of access we will illustrate the use of the mappings with relatively common concepts drawn from law and finance, focusing especially on financial contracts, derivatives, Shadow Banking, credit rating agencies and credit crises.