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124-491: The Michigan Economic Development Corporation ( MEDC ) is a public-private partnership agency and economic development corporation in the U.S. state of Michigan . Operating under the slogan " Pure Michigan ", MEDC attempts to encourage the tourism potential of the state and foster business relocations to Michigan. MEDC is the successor-in-interest of the Michigan Jobs Commission, created in 1993. The commission

248-407: A rent-seeking behavior, which leads to spiraling costs for users and/or taxpayers in the operation phase of the project. Some public–private partnerships, when the development of new technologies is involved, include profit-sharing agreements. This generally involves splitting revenues between the inventor and the public once a technology is commercialized. Profit-sharing agreements may stand over

372-467: A building contractor, a maintenance company, and one or more equity investors. The two former are typically equity holders in the project, who make decisions but are only repaid when the debts are paid, while the latter is the project's creditor (debt holder). It is the SPV that signs the contract with the government and with subcontractors to build the facility and then maintain it. A typical PPP example would be

496-399: A definition, the term has been defined by major entities. For example, The OECD formally defines public–private partnerships as "long term contractual arrangements between the government and a private partner whereby the latter delivers and funds public services using a capital asset, sharing the associated risks". According to David L. Weimer and Aidan R. Vining, "A P3 typically involves

620-493: A different context. For example, the reference of the word here depends on the location in which it is used. A closely related approach is possible world semantics, which allows expressions to refer not only to entities in the actual world but also to entities in other possible worlds. According to this view, expressions like the first man to run a four-minute mile refer to different persons in different worlds. This view can also be used to analyze sentences that talk about what

744-440: A different sense have the same referent. For instance, the sentence "the morning star is the evening star" is informative and people can learn something from it. The sentence "the morning star is the morning star", by contrast, is an uninformative tautology since the expressions are identical not only on the level of reference but also on the level of sense. Compositionality is a key aspect of how languages construct meaning. It

868-475: A fixed period of time or in perpetuity. Using PPPs have been justified in various ways over time. Advocates generally argue that PPPs enable the public sector to harness the expertise and efficiencies that the private sector can bring to the delivery of certain facilities and services traditionally procured and delivered by the public sector. On the other hand, critics suggest that PPPs are part of an ideological program that seeks to privatize public services for

992-450: A hospital building financed and constructed by a private developer and then leased to the hospital authority. The private developer then acts as landlord, providing housekeeping and other non-medical services, while the hospital itself provides medical services. The SPV links the firms responsible of the building phase and the operating phase together. Hence there is a strong incentives in the building stage to make investments with regard to

1116-413: A more complex meaning structure. In the expression "Beethoven likes Schubert", the verb like connects a liker to the object of their liking. Other sentence parts modify meaning rather than form new connections. For instance, the adjective red modifies the color of another entity in the expression red car . A further compositional device is variable binding, which is used to determine the reference of

1240-414: A particular language. Some semanticists also include the study of lexical units other than words in the field of lexical semantics. Compound expressions like being under the weather have a non-literal meaning that acts as a unit and is not a direct function of its parts. Another topic concerns the meaning of morphemes that make up words, for instance, how negative prefixes like in- and dis- affect

1364-413: A particular language. The same symbol may refer to one object in one language, to another object in a different language, and to no object in another language. Many other concepts are used to describe semantic phenomena. The semantic role of an expression is the function it fulfills in a sentence. In the sentence "the boy kicked the ball", the boy has the role of the agent who performs an action. The ball

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1488-552: A private entity financing, constructing, or managing a project in return for a promised stream of payments directly from government or indirectly from users over the projected life of the project or some other specified period of time". A 2013 study published in State and Local Government Review found that definitions of public-private partnerships vary widely between municipalities: "Many public and private officials tout public–private partnerships for any number of activities, when in truth

1612-486: A project cheaper for taxpayers. This can be done by cutting corners, designing the project so as to be more profitable in the operational phase, charging user fees, and/or monetizing aspects of the projects not covered by the contract. For P3 schools in Nova Scotia , this latter aspect has included restricting the use of schools' fields and interior walls, and charging after-hours facility access to community groups at 10 times

1736-452: A radical reform of government service provision. In 1997, the new British government of Tony Blair 's Labour Party expanded the PFI but sought to shift the emphasis to the achievement of "value for money", mainly through an appropriate allocation of risk. Blair created Partnerships UK (PUK), a new semi-independent organization to replace the previous pro-PPP government institutions. Its mandate

1860-602: A range of costs, the exact nature of which has changed over time and varies by jurisdiction. One thing that does remain consistent, however, is the favoring of "risk transfer" to the private partner, to the detriment of the public sector comparator. Value for money assessment procedures were incorporated into the PFI and its Australian and Canadian counterparts beginning in the late 1990s and early 2000s. A 2012 study showed that value-for-money frameworks were still inadequate as an effective method of evaluating PPP proposals. The problem

1984-445: A speaker remains silent on a certain topic. A closely related distinction by the semiotician Charles W. Morris holds that semantics studies the relation between words and the world, pragmatics examines the relation between words and users, and syntax focuses on the relation between different words. Semantics is related to etymology , which studies how words and their meanings changed in the course of history. Another connected field

2108-438: A strict distinction between meaning and syntax and by relying on various formal devices to explore the relation between meaning and cognition. Computational semantics examines how the meaning of natural language expressions can be represented and processed on computers. It often relies on the insights of formal semantics and applies them to problems that can be computationally solved. Some of its key problems include computing

2232-459: A strong sense, the principle of compositionality states that the meaning of a complex expression is not just affected by its parts and how they are combined but fully determined this way. It is controversial whether this claim is correct or whether additional aspects influence meaning. For example, context may affect the meaning of expressions; idioms like " kick the bucket " carry figurative or non-literal meanings that are not directly reducible to

2356-508: A term. For example, the last part of the expression "the woman who likes Beethoven" specifies which woman is meant. Parse trees can be used to show the underlying hierarchy employed to combine the different parts. Various grammatical devices, like the gerund form, also contribute to meaning and are studied by grammatical semantics. Formal semantics uses formal tools from logic and mathematics to analyze meaning in natural languages. It aims to develop precise logical formalisms to clarify

2480-407: A text that come before and after it. Context affects the meaning of various expressions, like the deictic expression here and the anaphoric expression she . A syntactic environment is extensional or transparent if it is always possible to exchange expressions with the same reference without affecting the truth value of the sentence. For example, the environment of the sentence "the number 8

2604-458: A transfer of risk, but when things go wrong the risk stays with the public sector and, at the end of the day, the public because the companies expect to get paid. The health board should now be seeking an exit from this failed arrangement with Consort and at the very least be looking to bring facilities management back in-house. Furthermore, assessments ignore the practices of risk transfers to contractors under traditional procurement methods. As for

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2728-457: A uniform signifying rank , and the presence of vultures indicating a nearby animal carcass. Semantics further contrasts with pragmatics , which is interested in how people use language in communication. An expression like "That's what I'm talking about" can mean many things depending on who says it and in what situation. Semantics is interested in the possible meanings of expressions: what they can and cannot mean in general. In this regard, it

2852-451: A vested interest in recommending the PPP option over the traditional public procurement method. The lack of transparency surrounding individual PPP projects makes it difficult to draft independent value-for-money assessments. A number of Australian studies of early initiatives to promote private investment in infrastructure concluded that in most cases, the schemes being proposed were inferior to

2976-427: A word means by looking at its letters and one needs to consult a dictionary instead. Compositionality is often used to explain how people can formulate and understand an almost infinite number of meanings even though the amount of words and cognitive resources is finite. Many sentences that people read are sentences that they have never seen before and they are nonetheless able to understand them. When interpreted in

3100-477: Is hermeneutics , which is the art or science of interpretation and is concerned with the right methodology of interpreting text in general and scripture in particular. Metasemantics examines the metaphysical foundations of meaning and aims to explain where it comes from or how it arises. The word semantics originated from the Ancient Greek adjective semantikos , meaning 'relating to signs', which

3224-400: Is 8. Semanticists commonly distinguish the language they study, called object language, from the language they use to express their findings, called metalanguage . When a professor uses Japanese to teach their student how to interpret the language of first-order logic then the language of first-order logic is the object language and Japanese is the metalanguage. The same language may occupy

3348-520: Is a derivative of sēmeion , the noun for ' sign '. It was initially used for medical symptoms and only later acquired its wider meaning regarding any type of sign, including linguistic signs. The word semantics entered the English language from the French term semantique , which the linguist Michel Bréal first introduced at the end of the 19th century. Semantics studies meaning in language, which

3472-577: Is and how it arises. It investigates how expressions are built up from different layers of constituents, like morphemes , words , clauses , sentences , and texts , and how the meanings of the constituents affect one another. Semantics can focus on a specific language, like English, but in its widest sense, it investigates meaning structures relevant to all languages. As a descriptive discipline, it aims to determine how meaning works without prescribing what meaning people should associate with particular expressions. Some of its key questions are "How do

3596-498: Is borne exclusively by the users of the service, for example, by toll road users such as in the case of Toronto 's Yonge Street at the dawn of the 19th century, and the more recent Highway 407 in Ontario . In other types (notably the PFI), capital investment is made by the private sector on the basis of a contract with the government to provide agreed-on services, and the cost of providing

3720-426: Is created through the combination of expressions belonging to different syntactic categories. Dynamic semantics is a subfield of formal semantics that focuses on how information grows over time. According to it, "meaning is context change potential": the meaning of a sentence is not given by the information it contains but by the information change it brings about relative to a context. Cognitive semantics studies

3844-445: Is described but an experience takes place, like when a girl sees a bird. In this case, the girl has the role of the experiencer. Other common semantic roles are location, source, goal, beneficiary, and stimulus. Lexical relations describe how words stand to one another. Two words are synonyms if they share the same or a very similar meaning, like car and automobile or buy and purchase . Antonyms have opposite meanings, such as

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3968-477: Is established or renewed, the financing is, from the public sector's perspective, "on-balance sheet". According to PPP advocates, the public sector will regularly benefit from significantly deferred cash flows. This viewpoint has been contested through research that shows that a majority of PPP projects ultimately cost significantly more than traditional public ones. In the European Union, the fact that PPP debt

4092-408: Is even" is extensional because replacing the expression the number 8 with the number of planets in the solar system does not change its truth value. For intensional or opaque contexts , this type of substitution is not always possible. For instance, the embedded clause in "Paco believes that the number 8 is even" is intensional since Paco may not know that the number of planets in the solar system

4216-505: Is interested in how meanings evolve and change because of cultural phenomena associated with politics , religion, and customs . For example, address practices encode cultural values and social hierarchies, as in the difference of politeness of expressions like tu and usted in Spanish or du and Sie in German in contrast to English, which lacks these distinctions and uses

4340-454: Is limited to the meaning of linguistic expressions. It concerns how signs are interpreted and what information they contain. An example is the meaning of words provided in dictionary definitions by giving synonymous expressions or paraphrases, like defining the meaning of the term ram as adult male sheep . There are many forms of non-linguistic meaning that are not examined by semantics. Actions and policies can have meaning in relation to

4464-518: Is lower than returns for the private funder. PPPs are closely related to concepts such as privatization and the contracting out of government services. The secrecy surrounding their financial details complexifies the process of evaluating whether PPPs have been successful. PPP advocates highlight the sharing of risk and the development of innovation , while critics decry their higher costs and issues of accountability . Evidence of PPP performance in terms of value for money and efficiency, for example,

4588-479: Is mixed and often unavailable. There is no consensus about how to define a PPP. The term can cover hundreds of different types of long-term contracts with a wide range of risk allocations, funding arrangements, and transparency requirements. The advancement of PPPs, as a concept and a practice, is a product of the new public management of the late 20th century, the rise of neoliberalism, and globalization pressures. Despite there being no formal consensus regarding

4712-468: Is not recorded as debt and remains largely "off-balance-sheet" has become a major concern. Indeed, keeping the PPP project and its contingent liabilities "off balance sheet" means that the true cost of the project is hidden. According to the International Monetary Fund , economic ownership of the asset should determine whether to record PPP-related assets and liabilities in the government's or

4836-446: Is possible or what is necessary: possibility is what is true in some possible worlds while necessity is what is true in all possible worlds. Ideational theories, also called mentalist theories, are not primarily interested in the reference of expressions and instead explain meaning in terms of the mental states of language users. One historically influential approach articulated by John Locke holds that expressions stand for ideas in

4960-457: Is responsible, and the Private sector assumes that risk at a cost for the taxpayer. If the value of the risk transfer is appraised too high, then the government is overpaying for P3 projects. Incidentally, a 2018 UK Parliament report underlines that some private investors have made large returns from PPP deals, suggesting that departments are overpaying for transferring the risks of projects to

5084-430: Is sometimes defined as the study of context-independent meaning. Pragmatics examines which of these possible meanings is relevant in a particular case. In contrast to semantics, it is interested in actual performance rather than in the general linguistic competence underlying this performance. This includes the topic of additional meaning that can be inferred even though it is not literally expressed, like what it means if

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5208-444: Is sometimes divided into two complementary approaches: semasiology and onomasiology . Semasiology starts from words and examines what their meaning is. It is interested in whether words have one or several meanings and how those meanings are related to one another. Instead of going from word to meaning, onomasiology goes from meaning to word. It starts with a concept and examines what names this concept has or how it can be expressed in

5332-504: Is sometimes understood as a mental phenomenon that helps people identify the objects to which an expression refers. Some semanticists focus primarily on sense or primarily on reference in their analysis of meaning. To grasp the full meaning of an expression, it is usually necessary to understand both to what entities in the world it refers and how it describes them. The distinction between sense and reference can explain identity statements , which can be used to show how two expressions with

5456-475: Is that it is unclear what the catchy term "value-for-money" means in the technical details relating to their practical implementation. A Scottish auditor once qualified this use of the term as "technocratic mumbo-jumbo". Project promoters often contract a PPP unit or one of the Big Four accounting firms to conduct the value for money assessments. Because these firms also offer PPP consultancy services, they have

5580-451: Is that most of the up-front financing is made through the private sector. The way this financing is done differs significantly by country. For P3s in the UK, bonds are used rather than bank loans . In Canada, P3 projects usually use loans that must be repaid within five years, and the projects are refinanced at a later date. In some types of public–private partnership, the cost of using the service

5704-413: Is the branch of semantics that studies word meaning . It examines whether words have one or several meanings and in what lexical relations they stand to one another. Phrasal semantics studies the meaning of sentences by exploring the phenomenon of compositionality or how new meanings can be created by arranging words. Formal semantics relies on logic and mathematics to provide precise frameworks of

5828-416: Is the idea that the meaning of a complex expression is a function of the meanings of its parts. It is possible to understand the meaning of the sentence "Zuzana owns a dog" by understanding what the words Zuzana , owns , a and dog mean and how they are combined. In this regard, the meaning of complex expressions like sentences is different from word meaning since it is normally not possible to deduce what

5952-419: Is the object to which the expression points. The sense of an expression is the way in which it refers to that object or how the object is interpreted. For example, the expressions morning star and evening star refer to the same planet, just like the expressions 2 + 2 and 3 + 1 refer to the same number. The meanings of these expressions differ not on the level of reference but on the level of sense. Sense

6076-404: Is the theme or patient of this action as something that does not act itself but is involved in or affected by the action. The same entity can be both agent and patient, like when someone cuts themselves. An entity has the semantic role of an instrument if it is used to perform the action, for instance, when cutting something with a knife then the knife is the instrument. For some sentences, no action

6200-404: Is true. Many related disciplines investigate language and meaning. Semantics contrasts with other subfields of linguistics focused on distinct aspects of language. Phonology studies the different types of sounds used in languages and how sounds are connected to form words while syntax examines the rules that dictate how to arrange words to create sentences. These divisions are reflected in

6324-450: Is used if the different meanings are closely related to one another, like the meanings of the word head , which can refer to the topmost part of the human body or the top-ranking person in an organization. The meaning of words can often be subdivided into meaning components called semantic features . The word horse has the semantic feature animate but lacks the semantic feature human . It may not always be possible to fully reconstruct

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6448-583: The Conservative government of John Major in the United Kingdom introduced the Private finance initiative (PFI), the first systematic program aimed at encouraging public–private partnerships. The 1992 program focused on reducing the public-sector borrowing requirement , although, as already noted, the effect on public accounts was largely illusory. Initially, the private sector was unenthusiastic about PFI, and

6572-399: The use theory , and inferentialist semantics . The study of semantic phenomena began during antiquity but was not recognized as an independent field of inquiry until the 19th century. Semantics is relevant to the fields of formal logic, computer science , and psychology . Semantics is the study of meaning in languages . It is a systematic inquiry that examines what linguistic meaning

6696-598: The vocabulary as a whole. This includes the study of lexical relations between words, such as whether two terms are synonyms or antonyms. Lexical semantics categorizes words based on semantic features they share and groups them into semantic fields unified by a common subject. This information is used to create taxonomies to organize lexical knowledge, for example, by distinguishing between physical and abstract entities and subdividing physical entities into stuff and individuated entities . Further topics of interest are polysemy, ambiguity, and vagueness . Lexical semantics

6820-453: The assessment of PPPs which focused heavily on value for money . Heather Whiteside defines P3 "Value for money" as: Not to be confused with lower overall project costs, value for money is a concept used to evaluate P3 private-partner bids against a hypothetical public sector comparator designed to approximate the costs of a fully public option (in terms of design, construction, financing, and operations). P3 value for money calculations consider

6944-420: The cognitive conceptual structures of humans are universal or relative to their linguistic background. Another research topic concerns the psychological processes involved in the application of grammar. Other investigated phenomena include categorization, which is understood as a cognitive heuristic to avoid information overload by regarding different entities in the same way, and embodiment , which concerns how

7068-454: The conditions under which it would be true. This can happen even if one does not know whether the conditions are fulfilled. The semiotic triangle , also called the triangle of meaning, is a model used to explain the relation between language, language users, and the world, represented in the model as Symbol , Thought or Reference , and Referent . The symbol is a linguistic signifier , either in its spoken or written form. The central idea of

7192-513: The connection of the poor to water and sanitation, water tariffs have increased out of reach of poor households. Water multinationals are withdrawing from developing countries, and the World Bank is reluctant to provide support. Semantic Semantics is the study of linguistic meaning . It examines what meaning is, how words get their meaning, and how the meaning of a complex expression depends on its parts. Part of this process involves

7316-408: The context, like the deictic terms here and I . To avoid these problems, referential theories often introduce additional devices. Some identify meaning not directly with objects but with functions that point to objects. This additional level has the advantage of taking the context of an expression into account since the same expression may point to one object in one context and to another object in

7440-496: The contractor. One of the main criticisms of public–private partnerships is the lack of accountability and transparency associated with these projects. Part of the reason why evidence of PPP performance is often unavailable is that most financial details of P3s are under the veil of commercial confidentiality provisions, and unavailable to researchers and the public. Around the world, opponents of P3s have launched judicial procedures to access greater P3 project documentation than

7564-711: The contractual complexities and rigidities they entail". In the United Kingdom, many private finance initiative programs ran dramatically over budget and have not provided value for money for the taxpayer, with some projects costing more to cancel than to complete. An in-depth study conducted by the National Audit Office of the United Kingdom concluded that the private finance initiative model had proved to be more expensive and less efficient in supporting hospitals, schools, and other public infrastructure than public financing. A treasury select committee stated that 'PFI

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7688-478: The contrast between alive and dead or fast and slow . One term is a hyponym of another term if the meaning of the first term is included in the meaning of the second term. For example, ant is a hyponym of insect . A prototype is a hyponym that has characteristic features of the type it belongs to. A robin is a prototype of a bird but a penguin is not. Two words with the same pronunciation are homophones like flour and flower , while two words with

7812-399: The corresponding physical object. The relation is only established indirectly through the mind of the language user. When they see the symbol, it evokes a mental image or a concept, which establishes the connection to the physical object. This process is only possible if the language user learned the meaning of the symbol before. The meaning of a specific symbol is governed by the conventions of

7936-413: The cost of the complex scientific laboratory, which was ultimately built, was very much larger than estimated. On the other hand, Allyson Pollock argues that in many PFI projects risks are not in fact transferred to the private sector and, based on the research findings of Pollock and others, George Monbiot argues that the calculation of risk in PFI projects is highly subjective, and is skewed to favor

8060-461: The costs to be larger than what was projected. Another risk within this area is with change of governance from differing political representatives could lead to projects being diminished or reduction of the allocated budget. This is common within PPPs as different political actors are likely to scrutinise their opponents based on their ideological positions. Private monopolies created by PPPs can generate

8184-399: The distinction between sense and reference . Sense is given by the ideas and concepts associated with an expression while reference is the object to which an expression points. Semantics contrasts with syntax , which studies the rules that dictate how to create grammatically correct sentences, and pragmatics , which investigates how people use language in communication. Lexical semantics

8308-541: The fact that it is possible to master some aspects of a language while lacking others, like when a person knows how to pronounce a word without knowing its meaning. As a subfield of semiotics, semantics has a more narrow focus on meaning in language while semiotics studies both linguistic and non-linguistic signs. Semiotics investigates additional topics like the meaning of non-verbal communication , conventional symbols , and natural signs independent of human interaction. Examples include nodding to signal agreement, stripes on

8432-423: The foreground while the base is the background that provides the context of this aspect without being at the center of attention. For example, the profile of the word hypotenuse is a straight line while the base is a right-angled triangle of which the hypotenuse forms a part. Cognitive semantics further compares the conceptual patterns and linguistic typologies across languages and considers to what extent

8556-408: The goal they serve. Fields like religion and spirituality are interested in the meaning of life , which is about finding a purpose in life or the significance of existence in general. Linguistic meaning can be analyzed on different levels. Word meaning is studied by lexical semantics and investigates the denotation of individual words. It is often related to concepts of entities, like how

8680-410: The government of the day appear more fiscally responsible , while offloading the costs of their projects to service users or future governments. In Canada, many auditors general have condemned this practice, and forced governments to include PPP projects "on-balance sheet". On PPP projects where the public sector intends to compensate the private sector through availability payments once the facility

8804-427: The government retains ownership of the facility and/or remains responsible for public service delivery. Others argue that they exist on a continuum of privatization, P3s being a more limited form of privatization than the outright sale of public assets, but more extensive than simply contracting out government services. Because "privatization" has a negative connotation in some circles, supporters of P3s generally take

8928-502: The idea that the private sector is inherently better at managing risk, there has been no comprehensive study comparing risk management by the public sector and by P3s. Auditor Generals of Quebec , Ontario and New Brunswick have publicly questioned P3 rationales based on a transfer of risk, the latter stating he was "unable to develop any substantive evidence supporting risk transfer decisions". Furthermore, many PPP concessions proved to be unstable and required to be renegotiated to favor

9052-464: The inception of sovereign states , notably for the purpose of tax collection and colonization . Contemporary "public–private partnerships" came into being around the end of the 20th century. They were aimed at increasing the private sector's involvement in public administration . They were seen by governments around the world as a method of financing new or refurbished public sector assets outside their balance sheet . While PPP financing comes from

9176-473: The lack of investor rights guarantees, commercial confidentiality laws, and dedicated state spending on public infrastructure in these countries made the implementation of public–private partnership in transition economies difficult. PPPs in the countries usually can't rely on stable revenues from user fees either. The World Bank 's Public-Private Infrastructure Advisory Forum attempts to mitigate these challenges. A defining aspect of many infrastructure P3s

9300-453: The language user's bodily experience affects the meaning of expressions. Frame semantics is an important subfield of cognitive semantics. Its central idea is that the meaning of terms cannot be understood in isolation from each other but needs to be analyzed on the background of the conceptual structures they depend on. These structures are made explicit in terms of semantic frames. For example, words like bride, groom, and honeymoon evoke in

9424-419: The limited "bottom line" sheets available on the project's websites. When they are successful, the documents they receive are often heavily redacted. A 2007 survey of U.S. city managers revealed that communities often fail to sufficiently monitor PPPs: "For instance, in 2002, only 47.3% of managers involved with private firms as delivery partners reported that they evaluate that service delivery. By 2007, that

9548-475: The majority of P3 projects in Australia. Wall Street firms have increased their interest in PPP since the 2008 financial crisis. Government sometimes make in kind contributions to a PPP, notably with the transfer of existing assets. In projects that are aimed at creating public goods , like in the infrastructure sector, the government may provide a capital subsidy in the form of a one-time grant so as to make

9672-457: The meaning of a word by identifying all its semantic features. A semantic or lexical field is a group of words that are all related to the same activity or subject. For instance, the semantic field of cooking includes words like bake , boil , spice , and pan . The context of an expression refers to the situation or circumstances in which it is used and includes time, location, speaker, and audience. It also encompasses other passages in

9796-446: The meaning of an expression is the part of reality to which it points. Ideational theories identify meaning with mental states like the ideas that an expression evokes in the minds of language users. According to causal theories, meaning is determined by causes and effects, which behaviorist semantics analyzes in terms of stimulus and response. Further theories of meaning include truth-conditional semantics , verificationist theories,

9920-492: The meaning of complex expressions by analyzing their parts, handling ambiguity, vagueness, and context-dependence, and using the extracted information in automatic reasoning . It forms part of computational linguistics , artificial intelligence , and cognitive science . Its applications include machine learning and machine translation . Cultural semantics studies the relation between linguistic meaning and culture. It compares conceptual structures in different languages and

10044-407: The meaning of particular expressions, like the semantics of the word fairy . As a field of inquiry, semantics has both an internal and an external side. The internal side is interested in the connection between words and the mental phenomena they evoke, like ideas and conceptual representations. The external side examines how words refer to objects in the world and under what conditions a sentence

10168-655: The meaning of the name George Washington is the person with this name. General terms refer not to a single entity but to the set of objects to which this term applies. In this regard, the meaning of the term cat is the set of all cats. Similarly, verbs usually refer to classes of actions or events and adjectives refer to properties of individuals and events. Simple referential theories face problems for meaningful expressions that have no clear referent. Names like Pegasus and Santa Claus have meaning even though they do not point to existing entities. Other difficulties concern cases in which different expressions are about

10292-421: The meaning of the words they are part of, as in inanimate and dishonest . Phrasal semantics studies the meaning of sentences. It relies on the principle of compositionality to explore how the meaning of complex expressions arises from the combination of their parts. The different parts can be analyzed as subject , predicate , or argument . The subject of a sentence usually refers to a specific entity while

10416-413: The meanings of their parts. Truth is a property of statements that accurately present the world and true statements are in accord with reality . Whether a statement is true usually depends on the relation between the statement and the rest of the world. The truth conditions of a statement are the way the world needs to be for the statement to be true. For example, it belongs to the truth conditions of

10540-492: The meanings of words combine to create the meanings of sentences?", "How do meanings relate to the minds of language users, and to the things words refer to?", and "What is the connection between what a word means, and the contexts in which it is used?". The main disciplines engaged in semantics are linguistics , semiotics , and philosophy . Besides its meaning as a field of inquiry, semantics can also refer to theories within this field, like truth-conditional semantics , and to

10664-467: The mind the frame of marriage. Conceptual semantics shares with cognitive semantics the idea of studying linguistic meaning from a psychological perspective by examining how humans conceptualize and experience the world. It holds that meaning is not about the objects to which expressions refer but about the cognitive structure of human concepts that connect thought, perception, and action. Conceptual semantics differs from cognitive semantics by introducing

10788-448: The model is that there is no direct relation between a linguistic expression and what it refers to, as was assumed by earlier dyadic models. This is expressed in the diagram by the dotted line between symbol and referent. The model holds instead that the relation between the two is mediated through a third component. For example, the term apple stands for a type of fruit but there is no direct connection between this string of letters and

10912-404: The modern electric grid . In Newfoundland, Robert Gillespie Reid contracted to operate the railways for fifty years from 1898, though originally they were to become his property at the end of the period. The late 20th and early 21st century saw a clear trend toward governments across the globe making greater use of various PPP arrangements. Pressure to change the model of public procurement

11036-733: The operating stage. These investments can be desirable but may also be undesirable (e.g., when the investments not only reduce operating costs but also reduce service quality). Public infrastructure is a relatively low-risk, high-reward investment, and combining it with complex arrangements and contracts that guarantee and secure the cash flows make PPP projects prime candidates for project financing . The equity investors in SPVs are usually institutional investors such as pension funds, life insurance companies, sovereign wealth and superannuation funds, and banks. Major P3 investors include AustralianSuper , OMERS and Dutch state-owned bank ABN AMRO , which funded

11160-430: The position that P3s do not constitute privatization, while P3 opponents argue that they do. The Canadian Union of Public Employees describes P3s as "privatization by stealth". Governments have used such a mix of public and private endeavors throughout history. Muhammad Ali of Egypt utilized " concessions " in the early 1800s to obtain public works for minimal cost while the concessionaires' companies made most of

11284-564: The predicate describes a feature of the subject or an event in which the subject participates. Arguments provide additional information to complete the predicate. For example, in the sentence "Mary hit the ball", Mary is the subject, hit is the predicate, and the ball is an argument. A more fine-grained categorization distinguishes between different semantic roles of words, such as agent, patient, theme, location, source, and goal. Verbs usually function as predicates and often help to establish connections between different expressions to form

11408-418: The private corporation's balance sheet is not straightforward. The effectiveness of PPPs as cost-saving venture has been refuted by numerous studies. Research has showed that on average, governments pay more for PPPs projects than for traditional publicly financed projects. The higher cost of P3s is attributed to these systemic factors: Sometimes, private partners manage to overcome these costs and provide

11532-593: The private sector, one of the Treasury's stated benefits of PPP. Supporters of P3s claim that risk is successfully transferred from public to private sectors as a result of P3, and that the private sector is better at risk management . As an example of successful risk transfer, they cite the case of the National Physical Laboratory . This deal ultimately caused the collapse of the building contractor Laser (a joint venture between Serco and John Laing ) when

11656-484: The private sector, these projects are always paid for either through taxes or by users of the service, or a mix of both. PPPs are structurally more expensive than publicly financed projects because of the private sector's higher cost of borrowing, resulting in users or taxpayers footing the bill for disproportionately high interest costs. PPPs also have high transaction costs . PPPs are controversial as funding tools, largely over concerns that public return on investment

11780-471: The private sector: When private companies take on a PFI project, they are deemed to acquire risks the state would otherwise have carried. These risks carry a price, which proves to be remarkably responsive to the outcome you want. A paper in the British Medical Journal shows that before risk was costed, the hospital schemes it studied would have been built much more cheaply with public funds. After

11904-401: The problem of meaning from a psychological perspective or how the mind of the language user affects meaning. As a subdiscipline of cognitive linguistics , it sees language as a wide cognitive ability that is closely related to the conceptual structures used to understand and represent the world. Cognitive semanticists do not draw a sharp distinction between linguistic knowledge and knowledge of

12028-674: The profits from projects such as railroads and dams. Much of the early infrastructure of the United States was built by what can be considered public–private partnerships. This includes the Philadelphia and Lancaster Turnpike road in Pennsylvania, which was initiated in 1792, an early steamboat line between New York and New Jersey in 1808; many of the railroads, including the nation's first railroad , chartered in New Jersey in 1815; and most of

12152-403: The profits of private entities. PPPs are often structured so that borrowing for the project does not appear on the balance sheet of the public-sector body seeking to make a capital investment. Rather, the borrowing is incurred by the private-sector vehicle implementing the project, with or without an explicit backup guarantee of the loan by the public body. On PPP projects where the cost of using

12276-473: The project economically viable. In other cases, the government may support the project by providing revenue subsidies, including tax breaks or by guaranteed annual revenues for a fixed period. Within public-private partnerships (PPPs), there are various risks associated. One risk common within PPPs is the lack of proper or accurate cost evaluation. Oftentimes the estimated costs of a project will not properly account for delays or unexpected events, leading to

12400-601: The pronoun you in either case. Closely related fields are intercultural semantics, cross-cultural semantics, and comparative semantics. Pragmatic semantics studies how the meaning of an expression is shaped by the situation in which it is used. It is based on the idea that communicative meaning is usually context-sensitive and depends on who participates in the exchange, what information they share, and what their intentions and background assumptions are. It focuses on communicative actions, of which linguistic expressions only form one part. Some theorists include these topics within

12524-497: The public meaning that expressions have, like the meaning found in general dictionary definitions. Speaker meaning, by contrast, is the private or subjective meaning that individuals associate with expressions. It can diverge from the literal meaning, like when a person associates the word needle with pain or drugs. Meaning is often analyzed in terms of sense and reference , also referred to as intension and extension or connotation and denotation . The referent of an expression

12648-1021: The public sector was opposed to its implementation. In 1993, the Chancellor of the Exchequer described its progress as "disappointingly slow". To help promote and implement the policy, Major created institutions staffed with people linked with the City of London , accountancy and consultancy firms who had a vested interest in the success of PFI. Around the same time, PPPs were being initiated haphazardly in various OECD countries. The first governments to implement them were ideologically neoliberal and short on revenues : they were thus politically and fiscally inclined to try out alternative forms of public procurement. These early PPP projects were usually pitched by wealthy and politically connected business magnates . This explains why each countries experimenting with PPPs started in different sectors . At that time, PPPs were seen as

12772-476: The rate of non-P3 schools. In Ontario, a 2012 review of 28 projects showed that the costs were on average 16% lower for traditional publicly procured projects than for PPPs. A 2014 report by the Auditor General of Ontario said that the province overpaid by $ 8 billion through PPPs. In response to these negative findings about the costs and quality of P3 projects, proponents developed formal procedures for

12896-450: The relation between expressions and their denotation. One of its key tasks is to provide frameworks of how language represents the world, for example, using ontological models to show how linguistic expressions map to the entities of that model. A common idea is that words refer to individual objects or groups of objects while sentences relate to events and states. Sentences are mapped to a truth value based on whether their description of

13020-489: The relation between language and meaning. Cognitive semantics examines meaning from a psychological perspective and assumes a close relation between language ability and the conceptual structures used to understand the world. Other branches of semantics include conceptual semantics , computational semantics , and cultural semantics. Theories of meaning are general explanations of the nature of meaning and how expressions are endowed with it. According to referential theories ,

13144-489: The relationship is contractual, a franchise, or the load shedding of some previously public service to a private or nonprofit entity." A more general term for such agreements is "shared service delivery", in which public-sector entities join with private firms or non-profit organizations to provide services to citizens. There is a semantic debate pertaining to whether public–private partnerships constitute privatization or not. Some argue that it isn't "privatization" because

13268-487: The risk was costed, they all tipped the other way; in several cases by less than 0.1%. Following an incident in the Royal Infirmary of Edinburgh where surgeons were forced to continue a heart operation in the dark following a power cut caused by PFI operating company Consort, Dave Watson from Unison criticized the way the PFI contract operates: It's a costly and inefficient way of delivering services. It's meant to mean

13392-403: The role of object language and metalanguage at the same time. This is the case in monolingual English dictionaries , in which both the entry term belonging to the object language and the definition text belonging to the metalanguage are taken from the English language. Lexical semantics is the sub-field of semantics that studies word meaning. It examines semantic aspects of individual words and

13516-402: The same entity. For instance, the expressions Roger Bannister and the first man to run a four-minute mile refer to the same person but do not mean exactly the same thing. This is particularly relevant when talking about beliefs since a person may understand both expressions without knowing that they point to the same entity. A further problem is given by expressions whose meaning depends on

13640-412: The same proposition, like the English sentence "the tree is green" and the German sentence "der Baum ist grün" . Utterance meaning is studied by pragmatics and is about the meaning of an expression on a particular occasion. Sentence meaning and utterance meaning come apart in cases where expressions are used in a non-literal way, as is often the case with irony . Semantics is primarily interested in

13764-427: The same spelling are homonyms , like a bank of a river in contrast to a bank as a financial institution. Hyponymy is closely related to meronymy , which describes the relation between part and whole. For instance, wheel is a meronym of car . An expression is ambiguous if it has more than one possible meaning. In some cases, it is possible to disambiguate them to discern the intended meaning. The term polysemy

13888-440: The scope of semantics while others consider them part of the distinct discipline of pragmatics. Theories of meaning explain what meaning is, what meaning an expression has, and how the relation between expression and meaning is established. Referential theories state that the meaning of an expression is the entity to which it points. The meaning of singular terms like names is the individual to which they refer. For example,

14012-410: The sentence "it is raining outside" that raindrops are falling from the sky. The sentence is true if it is used in a situation in which the truth conditions are fulfilled, i.e., if there is actually rain outside. Truth conditions play a central role in semantics and some theories rely exclusively on truth conditions to analyze meaning. To understand a statement usually implies that one has an idea about

14136-441: The service is intended to be borne exclusively by the end-user, or through a lease billed to the government every year during the operation phase of the project, the PPP is, from the public sector's perspective, an " off-balance sheet " method of financing the delivery of new or refurbished public-sector assets. This justification was particularly important during the 1990s, but has been exposed as an accounting trick designed to make

14260-414: The services is borne wholly or in part by the government. Typically, a private-sector consortium forms a special company called a special-purpose vehicle (SPV) to develop, build, maintain, and operate the asset for the contracted period. In cases where the government has invested in the project, it is typically (but not always) allotted an equity share in the SPV. The consortium is usually made up of

14384-547: The standard model of public procurement based on competitively tendered construction of publicly owned assets. In 2009, the New Zealand Treasury , in response to inquiries by the new National Party government, released a report on PPP schemes that concluded that "there is little reliable empirical evidence about the costs and benefits of PPPs" and that there "are other ways of obtaining private sector finance", as well as that "the advantages of PPPs must be weighed against

14508-407: The word dog is associated with the concept of the four-legged domestic animal. Sentence meaning falls into the field of phrasal semantics and concerns the denotation of full sentences. It usually expresses a concept applying to a type of situation, as in the sentence "the dog has ruined my blue skirt". The meaning of a sentence is often referred to as a proposition . Different sentences can express

14632-432: The world and see them instead as interrelated phenomena. They study how the interaction between language and human cognition affects the conceptual organization in very general domains like space, time, causation, and action. The contrast between profile and base is sometimes used to articulate the underlying knowledge structure. The profile of a linguistic expression is the aspect of the knowledge structure that it brings to

14756-542: The world is in correspondence with its ontological model. Formal semantics further examines how to use formal mechanisms to represent linguistic phenomena such as quantification , intensionality , noun phrases , plurals , mass terms, tense , and modality . Montague semantics is an early and influential theory in formal semantics that provides a detailed analysis of how the English language can be represented using mathematical logic. It relies on higher-order logic , lambda calculus , and type theory to show how meaning

14880-427: Was associated with the neoliberal turn. Instigators of the policy portrayed PPPs as a solution to concerns about the growing level of public debt during the 1970s and 1980s. They sought to encourage private investment in infrastructure , initially on the basis of ideology and accounting fallacies arising from the fact that public accounts did not distinguish between recurrent and capital expenditures. In 1992,

15004-439: Was down to 45.4%. Performance monitoring is a general concern from these surveys and in the scholarly criticisms of these arrangements." After a wave of privatization of many water services in the 1990s, mostly in developing countries, experiences show that global water corporations have not brought the promised improvements in public water utilities. Instead of lower prices, large volumes of investment, and improvements in

15128-454: Was no more efficient than other forms of borrowing and it was "illusory" that it shielded the taxpayer from risk'. One of the main rationales for P3s is that they provide for a transfer of risk : the Private partner assumes the risks in case of cost overruns or project failures. Methods for assessing value-for-money rely heavily on risk transfers to show the superiority of P3s. However, P3s do not inherently reduce risk, they simply reassign who

15252-531: Was to promote and implement PFI. PUK was central in making PPPs the "new normal" for public infrastructure procurements in the country. Multiple countries subsequently created similar PPP units based on PUK's model. While initiated in first world countries , PPPs immediately received significant attention in developing countries . This is because the PPP model promised to bring new sources of funding for infrastructure projects in transition economies , which could translate into jobs and economic growth . However,

15376-474: Was translated into the Development Corporation in 1999. Its growth and operations during the following twenty years reflected the urgency of moving away from Michigan's perceived standing as a one-industry state dependent on fluctuating conditions in the motor vehicle industry. Public-private partnership Cooperation between private actors, corporations and governments has existed since

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