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The Governing-Evaluation-Knowledge Nexus: Swedish Higher Education as a Case (Evaluating Education: Normative Systems and Institutional Practices)
by Anders OlofssonThis Open Access book analyses the interplay between governing, evaluation and knowledge with an empirical focus on Swedish higher education. It investigates the origins, logics, and mechanisms of evaluation and quality assurance reforms and their dynamic interactions with institutional, national and European policy contexts. The chapters report findings from extensive empirical studies that offer detailed insight into the work of governing in higher education, by giving voice to actors at various levels and positions including the ministry, national agency and University employees. Central themes include the influence of European policy, changing system designs, media relations and quality assurance enactments in University institutions. The book also explores the ways in which an emerging professional cadre, labelled qualocrats, enacts and mediates evaluation and quality assurance policy and practice. Taken together, the expanding evaluation machinery in Swedish higher education highlights the pivotal role of knowledge as a governing resource, and points to special features of evaluation as a particular form of practice that makes knowledge work for governing.
The Government Next Door: Neighborhood Politics in Urban China
by Luigi TombaChinese residential communities are places of intense governing and an arena of active political engagement between state and society. In The Government Next Door, Luigi Tomba investigates how the goals of a government consolidated in a distant authority materialize in citizens' everyday lives. Chinese neighborhoods reveal much about the changing nature of governing practices in the country. Government action is driven by the need to preserve social and political stability, but such priorities must adapt to the progressive privatization of urban residential space and an increasingly complex set of societal forces. Tomba's vivid ethnographic accounts of neighborhood life and politics in Beijing, Shenyang, and Chengdu depict how such local "translation" of government priorities takes place. Tomba reveals how different clusters of residential space are governed more or less intensely depending on the residents' social status; how disgruntled communities with high unemployment are still managed with the pastoral strategies typical of the socialist tradition, while high-income neighbors are allowed greater autonomy in exchange for a greater concern for social order. Conflicts are contained by the gated structures of the neighborhoods to prevent systemic challenges to the government, and middle-class lifestyles have become exemplars of a new, responsible form of citizenship. At times of conflict and in daily interactions, the penetration of the state discourse about social stability becomes clear.
The Government and Politics of France
by Andrew Knapp Vincent WrightThe Government and Politics of France has been the leading textbook on French politics for over a generation, and continues to provide students with a comprehensive and incisive introduction to the intricacies of French politics and government. This edition updates every chapter, with the addition of a new chapter on France and Europe. Recent events necessitate a new edition, particularly the 2002 elections and the growing interpenetration of France and the EU in student programmes, as well as in the real world.Whether covering the shifting balance within France's two-headed executive, the paradoxes of the French party politics, the power and fragmentation of France's administration, the growing assertiveness of French local government, or the newly visible world of the judiciary, The Government and Politics of France has always sought to confront established paradigms with the complex and untidy reality of French politics at the grass roots.
The Government of Chance: Sortition and Democracy from Athens to the Present
by Yves SintomerElectoral democracies are struggling. Sintomer, in this instructive book, argues for democratic innovations. One such innovation is using random selection to create citizen bodies with advisory or decisional political power. 'Sortition' has a long political history. Coupled with elections, it has represented an important yet often neglected dimension of Republican and democratic government, and has been reintroduced in the Global North, China and Mexico. The Government of Chance explores why sortation is returning, how it is coupled with deliberation, and why randomly selected 'minipublics' and citizens' assemblies are flourishing. Relying on a growing international and interdisciplinary literature, Sintomer provides the first systematic and theoretical reconstruction of the government of chance from Athens to the present. At what conditions can it be rational? What lessons can be drawn from history? The Government of Chance therefore clarifies the democratic imaginaries at stake: deliberative, antipolitical, and radical, making a plaidoyer for the latter.
The Government of Desire: A Genealogy of the Liberal Subject
by Miguel de BeisteguiLiberalism, Miguel de Beistegui argues in The Government of Desire, is best described as a technique of government directed towards the self, with desire as its central mechanism. Whether as economic interest, sexual drive, or the basic longing for recognition, desire is accepted as a core component of our modern self-identities, and something we ought to cultivate. But this has not been true in all times and all places. For centuries, as far back as late antiquity and early Christianity, philosophers believed that desire was an impulse that needed to be suppressed in order for the good life, whether personal or collective, ethical or political, to flourish. Though we now take it for granted, desire as a constitutive dimension of human nature and a positive force required a radical transformation, which coincided with the emergence of liberalism. By critically exploring Foucault’s claim that Western civilization is a civilization of desire, de Beistegui crafts a provocative and original genealogy of this shift in thinking. He shows how the relationship between identity, desire, and government has been harnessed and transformed in the modern world, shaping our relations with others and ourselves, and establishing desire as an essential driving force for the constitution of a new and better social order. But is it? The Government of Desire argues that this is precisely what a contemporary politics of resistance must seek to overcome. By questioning the supposed universality of a politics based on recognition and the economic satisfaction of desire, de Beistegui raises the crucial question of how we can manage to be less governed today, and explores contemporary forms of counter-conduct. ?Drawing on a host of thinkers from philosophy, political theory, and psychoanalysis, and concluding with a call for a sovereign and anarchic form of desire, The Government of Desire is a groundbreaking account of our freedom and unfreedom, of what makes us both governed and ungovernable.
The Government of Life: Foucault, Biopolitics, and Neoliberalism (Forms of Living)
by Vanessa Lemm and Miguel VatterFoucault’s late work on biopolitics and governmentality has established him as the fundamental thinker of contemporary continental political thought and as a privileged source for our current understanding of neoliberalism and its technologies of power. In this volume, an international and interdisciplinary group of Foucault scholars examines his ideas of biopower and biopolitics and their relation to his project of a history of governmentality and to a theory of the subject found in his last courses at the College de France.Many of the chapters engage critically with the Italian theoretical reception of Foucault. At the same time, the originality of this collection consists in the variety of perspectives and traditions of reception brought to bear upon the problematic connections between biopolitics and governmentality established by Foucault’s last works.
The Government of Manitoba
by Murray DonnellyThis contribution to the Canadian Government series continues the study of provincial government made, with varying approaches, by Frank MacKinnon for Prince Edward Island, Murray Beck for Nova Scotia, and Hugh Thorburn for New Brunswick. Professor Donnelly describes the political institutions of Manitoba, viewing them also in historical perspective and singling out the particular forces that have shaped them. He traces the development of the party system in Canada, its decline under the farmer-dominated Progressive governments of the twenties and under the coalitions that followed, and its resurgence under the Conservative government of Premier Roblin. (Canadian Government Series, No. 14)
The Government of No One: The Theory and Practice of Anarchism (Pelican Books)
by Ruth Kinna'The standard book on anarchism for the twenty-first century. Written with brio, quiet insight and clarity' Carl LevyA magisterial study of the history and theory of one of the most controversial political movementsAnarchism routinely gets a bad press. It's usually seen as meaning chaos and disorder -- or even nothing at all. And yet, from Occupy Wall Street to Pussy Riot, Noam Chomsky to David Graeber, this philosophical and political movement is as relevant as ever. Contrary to popular perception, different strands of anarchism -- from individualism to collectivism -- do follow certain structures and a shared sense of purpose: a belief in freedom and working towards collective good without the interference of the state. In this masterful, sympathetic account, political theorist Ruth Kinna traces the tumultuous history of anarchism, starting with thinkers and activists such as Peter Kropotkin and Emma Goldman and through key events like the Paris Commune and the Haymarket affair. Skilfully introducing us to the nuanced theories of anarchist groups from Russia to Japan to the United States, The Government of No One reveals what makes a supposedly chaotic movement particularly adaptable and effective over centuries -- and what we can learn from it.
The Government of Things: Foucault and the New Materialisms
by Thomas LemkeExamines the theoretical achievements and the political impact of the new materialismsMaterialism, a rich philosophical tradition that goes back to antiquity, is currently undergoing a renaissance. In The Government of Things, Thomas Lemke provides a comprehensive overview and critical assessment of this “new materialism”. In analyzing the work of Graham Harman, Jane Bennett, and Karen Barad, Lemke articulates what, exactly, new materialism is and how it has evolved. These insights open up new spaces for critical thought and political experimentation, overcoming the limits of anthropocentrism. Drawing on Michel Foucault’s concept of a “government of things”, the book also goes beyond new materialist scholarship which tends to displace political questions by ethical and aesthetic concerns. It puts forward a relational and performative account of materialities that more closely attends to the interplay of epistemological, ontological, and political issues.Lemke provides definitive and much-needed clarity about the fascinating potential—and limitations—of new materialism as a whole. The Government of Things revisits Foucault’s more-than-human understanding of government to capture a new constellation of power: “environmentality”. As the book demonstrates, contemporary modes of government seek to control the social, ecological, and technological conditions of life rather than directly targeting individuals and populations. The book offers an essential and much needed tool to critically examine this political shift.
The Grace of Being Fallible in Philosophy, Theology, and Religion
by Knut-Willy Sæther Thomas John HastingsWhy is epistemic fallibilism a viable topic for Christian thought and cultural engagement today? Religious fundamentalists and scientific positivists tend to deal with reality in terms of “knockdown” arguments, and such binary approaches to lived reality have helped to underwrite the belligerence and polarization that mark this age of the social media echo chamber. For those who want to take both religion and science seriously, epistemic fallibilism offers a possible moderating stance that claims neither too much nor too little for either endeavor, nor forces a decision for one side over and against the other. This book uses this epistemological approach to fallibilism as a positive resource for conversations that arise at the intersection of philosophy, theology, and religion. The essays explore a range of openings into the interstices of these often siloed fields, with the aim of overcoming some of the impasses separating diverse ways of knowing.
The Grace of the Italian Renaissance
by Ita Mac CarthyHow grace shaped the Renaissance in Italy"Grace" emerges as a keyword in the culture and society of sixteenth-century Italy. The Grace of the Italian Renaissance explores how it conveys and connects the most pressing ethical, social and aesthetic concerns of an age concerned with the reactivation of ancient ideas in a changing world. The book reassesses artists such as Francesco del Cossa, Raphael and Michelangelo and explores anew writers like Castiglione, Ariosto, Tullia d'Aragona and Vittoria Colonna. It shows how these artists and writers put grace at the heart of their work.Grace, Ita Mac Carthy argues, came to be as contested as it was prized across a range of Renaissance Italian contexts. It characterised emerging styles in literature and the visual arts, shaped ideas about how best to behave at court and sparked controversy about social harmony and human salvation. For all these reasons, grace abounded in the Italian Renaissance, yet it remained hard to define. Mac Carthy explores what grace meant to theologians, artists, writers and philosophers, showing how it influenced their thinking about themselves, each other and the world.Ambitiously conceived and elegantly written, this book portrays grace not as a stable formula of expression but as a web of interventions in culture and society.
The Grammar Rules of Affection: Passion and Pedagogy in Sidney, Shakespeare, and Jonson
by Ross KnechtRenaissance writers habitually drew upon the idioms and images of the schoolroom in their depictions of emotional experience. Memorable instances of this tendency include the representation of love as a schoolroom exercise conducted under the disciplinary gaze of the mistress, melancholy as a process of gradual decline like the declension of the noun, and courtship as a practice in which the participants are arranged like the parts of speech in a sentence. The Grammar Rules of Affection explores this synthesis of the affective and the pedagogical in Renaissance literature, analysing examples from major texts by Philip Sidney, William Shakespeare, and Ben Jonson. Drawing on philosophical approaches to emotion, theories of social practice, and the history of education, this book argues that emotions appear in Renaissance literature as conventional, rule-guided practices rather than internal states. This claim represents a novel intervention in the historical study of emotion, departing from the standard approaches to emotions as either corporeal phenomena or mental states. Combining linguistic philosophy and theory of emotion, The Grammar Rules of Affection works to overcome this dualistic crux by locating emotion in the expressions and practices of everyday life.
The Grammar of Politics and Performance (Interventions)
by Janelle Reinelt Shirin M RaiThis volume brings together important work at the intersection of politics and performance studies. While the languages of theatre and performance have long been deployed by other disciplines, these are seldom deployed seriously and pursued systematically to discover the actual nature of the relationship between performance as a set of behavioural practices and the forms and the transactions of these other disciplines. This book investigates the structural similarities and features of politics and performance, which are referred to here as ‘grammar’, a concept which also emphasizes the common communicational base or language of these fields. In each of the chapters included in this collection, key processes of both politics and performance are identified and analyzed, demonstrating the critical and indivisible links between the fields. The book also underlines that neither politics nor performance can take place without actors who perform and spectators who receive, evaluate and react to these actions. At the heart of the project is the ambition to bring about a paradigm change, such that politics cannot be analyzed seriously without a sophisticated understanding of its performance. All the chapters here display a concrete set of events, practices, and contexts within which politics and performance are inseparable elements. This work will be of great interest to students and scholars in both International Relations and Performance Studies.
The Grammar of Society: The Nature and Dynamics of Social Norms
by Cristina BicchieriIn The Grammar of Society, first published in 2006, Cristina Bicchieri examines social norms, such as fairness, cooperation, and reciprocity, in an effort to understand their nature and dynamics, the expectations that they generate, and how they evolve and change. Drawing on several intellectual traditions and methods, including those of social psychology, experimental economics and evolutionary game theory, Bicchieri provides an integrated account of how social norms emerge, why and when we follow them, and the situations where we are most likely to focus on relevant norms. Examining the existence and survival of inefficient norms, she demonstrates how norms evolve in ways that depend upon the psychological dispositions of the individual and how such dispositions may impair social efficiency. By contrast, she also shows how certain psychological propensities may naturally lead individuals to evolve fairness norms that closely resemble those we follow in most modern societies.
The Grand Array
by Pattiann RogersThe Grand Array is a stunning collection of 18 essays by widely published and highly acclaimed poet Pattiann Rogers. Written over a span of 25 years, these essays show Rogers daringly yet delicately laying out her vision of the essential unity and interdependence of science, spirituality, the arts, and the sensual experience of the physical world. Composed in an anecdotal and lyrical - but never dogmatic - style, The Grand Array takes us on a journey that both celebrates human existence and questions many of our basic concepts about nature, god, and the importance of faith. Regard for the awe-inspiring but sometimes raw mysteries of nature underlies Roger's writing. At its heart, her message is celebratory und unifying - and as such it's particularly relevant in today's fractured world. Rogers calls on us to understand and move beyond the limitations of our knowledge in order to embrace the vastness of the cosmos and the place of humans in its "grand array."
The Grand Array
by Pattiann RogersThe Grand Array is a stunning collection of 18 essays by widely published and highly acclaimed poet Pattiann Rogers. Written over a span of 25 years, these essays show Rogers daringly yet delicately laying out her vision of the essential unity and interdependence of science, spirituality, the arts, and the sensual experience of the physical world. Composed in an anecdotal and lyrical - but never dogmatic - style, The Grand Array takes us on a journey that both celebrates human existence and questions many of our basic concepts about nature, god, and the importance of faith. Regard for the awe-inspiring but sometimes raw mysteries of nature underlies Roger's writing. At its heart, her message is celebratory und unifying - and as such it's particularly relevant in today's fractured world. Rogers calls on us to understand and move beyond the limitations of our knowledge in order to embrace the vastness of the cosmos and the place of humans in its "grand array."
The Grand Array
by Pattiann RogersThe Grand Array is a stunning collection of 18 essays by widely published and highly acclaimed poet Pattiann Rogers. Written over a span of 25 years, these essays show Rogers daringly yet delicately laying out her vision of the essential unity and interdependence of science, spirituality, the arts, and the sensual experience of the physical world. Composed in an anecdotal and lyrical - but never dogmatic - style, The Grand Array takes us on a journey that both celebrates human existence and questions many of our basic concepts about nature, god, and the importance of faith. Regard for the awe-inspiring but sometimes raw mysteries of nature underlies Roger's writing. At its heart, her message is celebratory und unifying - and as such it's particularly relevant in today's fractured world. Rogers calls on us to understand and move beyond the limitations of our knowledge in order to embrace the vastness of the cosmos and the place of humans in its "grand array."
The Grand Delusion: What We Know But Don't Believe
by Steve HagenThis is a fun, unique book that goes deep into the great mysteries of knowing—and makes it enjoyable.In The Grand Delusion, bestselling author Steve Hagen drills deeply into the most basic assumptions, strengths, and limitations of religion and belief, philosophy and inquiry, science and technology. In doing so, he shines new light on the great existential questions—Why is there Something rather than Nothing? What does it mean to exist? What is consciousness? What is the nature of truth?—and does so from an entirely unexpected direction. Ultimately, this book reveals how all of our fundamental questions stem from a single error, a single unwarranted belief—a single Grand Delusion.
The Grand Design
by Stephen Hawking Leonard Mlodinow#1 NEW YORK TIMES BESTSELLERWhen and how did the universe begin? Why are we here? What is the nature of reality? Is the apparent "grand design" of our universe evidence of a benevolent creator who set things in motion--or does science offer another explanation? In this startling and lavishly illustrated book, Stephen Hawking and Leonard Mlodinow present the most recent scientific thinking about these and other abiding mysteries of the universe, in nontechnical language marked by brilliance and simplicity. According to quantum theory, the cosmos does not have just a single existence or history. The authors explain that we ourselves are the product of quantum fluctuations in the early universe, and show how quantum theory predicts the "multiverse"--the idea that ours is just one of many universes that appeared spontaneously out of nothing, each with different laws of nature. They conclude with a riveting assessment of M-theory, an explanation of the laws governing our universe that is currently the only viable candidate for a "theory of everything": the unified theory that Einstein was looking for, which, if confirmed, would represent the ultimate triumph of human reason.rning us and our universe that is currently the only viable candidate for a complete "theory of everything." If confirmed, they write, it will be the unified theory that Einstein was looking for, and the ultimate triumph of human reason.A succinct, startling, and lavishly illustrated guide to discoveries that are altering our understanding and threatening some of our most cherished belief systems, The Grand Design is a book that will inform--and provoke--like no other.From the Hardcover edition.
The Grand Inquisitor: with related chapters from The Brothers Karamazov
by Constance Garnett Fyodor Dostoevsky Charles GuignonThis new edition presents The Grand Inquisitor together with the preceding chapter, Rebellion, and the extended reply offered by Dostoevsky in the following sections, entitled The Russian Monk. By showing how Dostoevsky frames the Grand Inquisitor story in the wider context of the novel, this edition captures the subtlety and power of Dostoevsky's critique of modernity as well as his alternative vision of human fulfillment.
The Grand Strategy of the Habsburg Empire
by A. MitchellThe Habsburg Empire’s grand strategy for outmaneuvering and outlasting stronger rivals in a complicated geopolitical worldThe Empire of Habsburg Austria faced more enemies than any other European great power. Flanked on four sides by rivals, it possessed few of the advantages that explain successful empires. Its army was not renowned for offensive prowess, its finances were often shaky, and its populace was fragmented into more than a dozen ethnicities. Yet somehow Austria endured, outlasting Ottoman sieges, Frederick the Great, and Napoleon. The Grand Strategy of the Habsburg Empire tells the story of how this cash-strapped, polyglot empire survived for centuries in Europe's most dangerous neighborhood without succumbing to the pressures of multisided warfare.Taking readers from the War of the Spanish Succession in the early 1700s to the Austro-Prussian War of 1866, A. Wess Mitchell argues that the Habsburgs succeeded not through offensive military power or great wealth but by developing strategies that manipulated the element of time in geopolitical competition. Unable to fight all their enemies at once, the Habsburgs learned to use the limited tools at their disposal—terrain, technology, and treaty allies—to sequence and stagger their conflicts, drive down the costs of empire, and concentrate scarce resources against the greatest threat of the moment. Rarely holding a grudge after war, they played the "long game" in geopolitics, corralling friend and foe alike into voluntarily managing the empire's lengthy frontiers and extending a benign hegemony across the turbulent lands of middle Europe.A study in adaptive statecraft, The Grand Strategy of the Habsburg Empire offers lessons on how to navigate a messy geopolitical map, stand firm without the advantage of military predominance, and prevail against multiple rivals.
The Grass Flute Zen Master: Sodo Yokoyama
by Arthur BravermanWhat motivated Sodo–san to spend the last twenty years of his life in a “temple under the sky”— a corner of a public park where he taught passersby what it means to be forever young through the funky tunes he played on his grass flute? In The Grass Flute Zen Master: Sodo Yokoyama, we are seeking not only a truer understanding of this well–loved monk, but of zazen, Zen meditation, itself. In his search for insights into Sodo Yokoyama’s life, Arthur Braverman skillfully weaves a tapestry from seemingly disparate threads—the brief taisho period into which Sodo–san was born and where individualism shone; his teachers, both ancient and contemporary practitioners of Zen Bhuddism; the monk’s love of baseball; and the similarities Braverman finds between Sodo–san and Walt Whitman, who both found the universal in nature.Through conversations with Joko Shibata, Yokoyama’s sole disciple, and careful study of his teacher’s poetry, an intriguing tension between the personal and the universal is revealed. The Grass Flute Zen Master is a meditative examination not of just one life, but of many. The lineage of teacher and protégé is traced back through generations, contemporaries are drawn up from unexpected places, and Braverman examines his own long journey in Zen Buddhism; confronting his own expectations and surprising disappointments (the monk lived in a boarding house and later took a cab to his park when he could no longer walk the whole way) and the understanding and acceptance that followed. “When you play the leaf,” Sodo–san once wrote, “you’ll usually be a little out of tune. That’s where its very charm lies . . .”
The Grateful Dead and Philosophy
by Steve GimbelThis book is another one of those late-night Grateful Dead inspired dorm room conversations with friends . . . only this time it's your professors sitting cross-legged on the floor asking if anyone else wants to order a pizza.The Grateful Dead emerged from the San Francisco counter-culture movement of the late 1960s to become an American icon. Part of the reason they remain an institution four decades later is that they and their fans, the Deadheads, embody deviation from social, artistic, and industry norms. From the beginning, the Grateful Dead has represented rethinking what we do and how we do it. Their long, free-form jams stood in stark contrast to the three minute, radio friendly, formulaic rock that preceded them. Allowing their fans to tape and trade recordings of shows and distributing concert tickets themselves bucked the corporate control of popular music. The use of mind-altering chemicals questioned the nature of consciousness and reality. The practice of "touring," following the band from city to city, living as modern day nomads presented a model distinct from the work-a-day option assumed by most in our corporate dominated culture. As a result, Deadheads are a quite introspective lot.The Grateful Dead and Philosophy contains essays from twenty professional philosophers whose love of the music and scene have led them to reflect on different philosophical questions that arise from the enigma that is the Grateful Dead. Coming from a variety of perspectives, ancient and modern, Eastern and Western, The Grateful Dead and Philosophy considers how the Grateful Dead fits into the broader trends of American thought running through pragmatism and the Beat poets, how the parking lot scene with its tie-dyed t-shirt and veggie burrito vendors was both a rejection and embrace of capitalism, and whether Jerry Garcia and the Buddha were more than just a couple of fat guys talking about peace. The lyrics of the Grateful Dead's many songs are also the basis for several essays considering questions of fate and freedom, the nature-nurture debate, and gamblers' ethics.
The Grateful Dead and Philosophy: Getting High-Minded about Love and Haight
by Steven GimbelTwenty philosophical essays about the Grateful Dead phenomenon evaluates the band, its lyrics, and its influence from a variety of ancient and modern perspectives to consider how it fits into broader trends of American thought.
The Great American Housing Bubble: What Went Wrong and How We Can Protect Ourselves in the Future
by Susan M. Wachter Adam J. LevitinThe definitive account of the housing bubble that caused the Great Recession—and earned Wall Street fantastic profits. The American housing bubble of the 2000s caused the worst global financial crisis since the Great Depression. In this definitive account, Adam Levitin and Susan Wachter pinpoint its source: the shift in mortgage financing from securitization by Fannie Mae and Freddie Mac to “private-label securitization” by Wall Street banks. This change set off a race to the bottom in mortgage underwriting standards, as banks competed in laxity to gain market share. The Great American Housing Bubble tells the story of the transformation of mortgage lending from a dysfunctional, local affair, featuring short-term, interest-only “bullet” loans, to a robust, national market based around the thirty-year fixed-rate mortgage, a uniquely American innovation that served as the foundation for the middle class. Levitin and Wachter show how Fannie and Freddie’s market power kept risk in check until 2003, when mortgage financing shifted sharply to private-label securitization, as lenders looked for a way to sustain lending volume following an unprecedented refinancing wave. Private-label securitization brought a return of bullet loans, which had lower initial payments—enabling borrowers to borrow more—but much greater back-loaded risks. These loans produced a vast oversupply of underpriced mortgage finance that drove up home prices unsustainably. When the bubble burst, it set off a destructive downward spiral of home prices and foreclosures. Levitin and Wachter propose a rebuild of the housing finance system that ensures the widespread availability of the thirty-year fixed-rate mortgage, while preventing underwriting competition and shifting risk away from the public to private investors.