A revenge problem without the concept of truth

The vast majority of putative solutions to the liar paradox face the infamous revenge problem. In recent work, however, Kevin Scharp has extensively developed an exciting and highly novel ‘inconsistency approach’ to the paradox that, he claims, does not face revenge. If Scharp is right, then this represents a significant step forward in our attempts to solve the liar paradox. However, in this paper, I raise a revenge problem that faces Scharp’s inconsistency approach.

Revenge best served up dancing

Review : Two Pound Parlour performed at Revolt Artspace, Kensington

The revenge of the market on the rentiers why neo-liberal reports of the end of history turned out to be premature

Starting from the perspective of heterodox Keynesian-Minskyian-Kindlebergian financial economics, this paper begins by highlighting a number of mechanisms that contributed to the current financial crisis. These include excess liquidity, income polarisation, conflicts between financial and productive capital, lack of intelligent regulation, asymmetric information, principal-agent dilemmas and bounded rationalities. However, the paper then proceeds to argue that perhaps more than ever the ‘macroeconomics’ that led to this crisis only makes analytical sense if examined within the framework of the political settlements and distributional outcomes in which it had operated. Taking the perspective of critical social theories the paper concludes that, ultimately, the current financial crisis is the outcome of something much more systemic, namely an attempt to use neo-liberalism (or, in US terms, neo-conservatism) as a new technology of power to help transform capitalism into a rentiers’ delight. And in particular, into a system without much ‘compulsion’ on big business; i.e., one that imposes only minimal pressures on big agents to engage in competitive struggles in the real economy (while inflicting exactly the opposite fate on workers and small firms). A key component in the effectiveness of this new technology of power was its ability to transform the state into a major facilitator of the ever-increasing rent-seeking practices of oligopolistic capital. The architects of this experiment include some capitalist groups (in particular rentiers from the financial sector as well as capitalists from the ‘mature’ and most polluting industries of the preceding techno-economic paradigm), some political groups, as well as intellectual networks with their allies – including most economists and the ‘new’ left. Although rentiers did succeed in their attempt to get rid of practically all fetters on their greed, in the end the crisis materialised when ‘markets’ took their inevitable revenge on the rentiers by calling their (blatant) bluff.

Feelings of revenge, retaliation motive, and posttraumatic stress reactions in crime victims

Individuals with posttraumatic stress disorder (PTSD) are often said to experience strong feelings of revenge. However, there is a need for confirmatory empirical studies. Therefore, in a study of 174 victims of violent crimes, the relation between feelings of revenge and posttraumatic stress reactions was investigated. Feelings of revenge were correlated with intrusion and hyperarousal but not with avoidance. Feelings of revenge explained incremental variance of intrusion and hyperarousalwhen the variance explained by victimological variables was controlled. The retaliation motive implied in feelings of revenge did not account for the relation between feelings of revenge and posttraumatic stress reactions. However, the relation was moderated by the time since victimization. Therefore, feelings of revenge must presumably be regarded as a maladaptive coping reaction to experienced injustice, but not in the first period after victimization.

Does perpetrator punishment satisfy victims' feelings of revenge?

Criminal victimization often provokes strong feelings of revenge. Two studies were conducted to investigate whether legal punishment of the perpetrator reduces victims’ feelings of revenge. A cross-sectional study of 174 crime victims revealed that punishment severity does not predict feelings of revenge at a time several years after the trial. A longitudinal study of 31 crime victims revealed that, for the time interval from a few weeks before the trial to a few weeks after the trial, punishment severity significantly predicts a decrease in feelings of revenge; nevertheless intraindividual and interindividual stability of these feelings was high. Taken together, results of the two studies suggest that perpetrator punishment only partially, and moreover only transitorily, satisfies victims’ feelings of revenge. Therefore, satisfaction of victims’ feelings of revenge cannot be taken as empirical justification for tightening of sentencing norms.