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In this selection Churchland examines functionalism and the two prominent versions of materialism in philosophy of mind. Reductivism claims that there is an identity of mental states with brain states. Functionalism rejects any one-to-one correlation between mental types and physical types and concentrates on the relationship between inputs and outputs. For example, the mental event of pain could be similar in two beings that have altogether different types of bodies and brains. Most functionalists are materialists, but someone could be a functionalist and be a nonmaterialist. Eliminative materialism is more radical than either of these other theories and seeks to eliminate "folk psychology"-talk of beliefs, feelings, and perceptions-in favor of more scientific descriptions of what is going on in the brain. Churchland concludes that the truth may be a combination of the two materialist theories, although the evidence points more in the direction of eliminativism.
-Nagel says that brain states can ultimately explain subjective mental states.
Discount Rate
It denotes the interest rate utilized for determining the present value of future cash flows in the course of discounted cash flow analysis.
Future Value
The value of an investment or cash flow at a specific future date, adjusted for time value of money and interest.
Discount Rate
The interest rate used to discount future cash flows to their present value, often reflecting the cost of capital or the risk of the investment.
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