Kirk W. Junker

In current legal and political atmospheres, when governments are embracing notions such as pollution prevention and the three ”R’s” – reduce, reuse and recycle, while discarding command and control types of regulatory enforcement, some may be surprised to learn that since 1971 Pennsylvania law has permitted the exemption of corporate assets from capital stock valuation for the purpose of paying capital stock taxes, if the assets are devoted to pollution control or abatement. Straightforward though the idea of tax exemption for pollution control assets may seem, the execution of the statutory exemption, together with the regulation which was promulgated thereunder, yields a wide variety of hermeneutic fruit under the scrutiny of the judiciary and the advocacy of lawyers.

Previously in Futures, I discussed a word that we use to form an abstract futures concept: “millennium” [1]. In its most common current usage, “millennium” is an example of a word that provides, and one might even say controls, a future orientation for us. In the present essay, I am taking a different approach to the role of the word that I will be discussing. This word is not an example of a future-orientation; rather it is more of an example of language about future-orientation. The word is “expectation”. To make this distinction clearer, it may help to borrow some of the terminological distinctions made by the American logician, C.S. Peirce. First of all, for Peirce, and indeed for my present purposes, signs include words. More specifically, in a paper dated 1867, May 14th, and published in the Proceedings of the American Academy of Arts and Science (Boston), VII (1868) [2] Peirce divided signs into three categories based upon their relationship to their object—Icons, Indices, and Symbols. (Peirce himself used the convention of capitalising the words.) He defined “Icon” as a sign determined by its object “by virtue of its own internal nature”. In comparison, he defined “Index” as a sign determined by its object “by virtue of being in real relation to it”, such as when smoke is a sign of fire. A Symbol, according to Peirce, is a sign determined by its object “only in the sense that it will be so interpreted”. A Symbol thus depends upon conventions or habits.