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OU PHIL 1273 - Utilitarian and Deontological Justifications of the Market

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PHIL 1273 1st Edition Lecture 14 Outline of Last Lecture I. Utilitarianism in the MarketA. Utilitarian Justifications for the MarketB. Critique of the Utilitarian PositionOutline of Current Lecture I. Review of Previous LectureA. Utilitarian Justification of the MarketB. Critique of ArgumentC. Comment on DisputeII. Deontological Justification of the MarketA. Core ValueB. LibertarianismC. Libertarian Justification of the MarketCurrent LectureI. Review of Previous LectureA. Utilitarian Justification of the Market1. Preference satisfaction is the good2. Markets satisfy preferences, so they have good consequences3. So markets must be morally justifiedB. Critique of that Argument1. Preference satisfaction is not the (only) good2. That markets satisfy preferences does not imply that they have good consequences3. So not the case that markets are morally justified4. Is the purpose of this critique to say markets are a bad thing that cannot be justified?a. Not critiquing market, just a justification of the marketC. Comment on Dispute1. Does not say markets are unjustifiable, rather conveys one particular justification (the utilitarian one) does not work (in a negative way about what good is not)2. Positive argumenta. Hausman and McPhersonb. Kantian focus on freedomThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.c. What does the market look like from that angle>II. Deontological Justification of the MarketA. Core value1. Autonomy equates to self-control2. Kant: self-control is not giving in to desire3. Self-control means it is oneself who determines what one does4. Liberty as absence of external controlB. Libertarianism1. Liberty as a fundamental righta. “We hold these truths to be self-evident, that all mean…are endowed by their Creator with certain unalienable Rights, that among these [is]…Liberty…” – the Declaration of Independence2. Liberty and ownershipa. “Each of us has a fundamental right to liberty – the right to do whatever we want with the things we own, provided we respect each other’s rights to do the same.” – Sandel 59-603. Liberty as self-ownership to capture degree of controlC. Libertarian Justification of the Market1. Ethic for human interaction based on core value of libertya. Interaction must be voluntaryb. Coercion is wrongc. Paradigm for interaction is free exchange2. Market as ethical institutiona. Market is constituted by free exchangesb. Market is justified by its preservation of freedom3. No mention of maximizing the gooda. Free people are likely to satisfy their preferences, but exchange is justified not by that satisfaction but because it was freeb. Not considering the consequences of the action but observing underlying intentionsc. Deontological style of justification4. Implications of Viewa. Limit limitations to marketb. Government limits the marketi. Government rests on coercionii. Use power to intervene in market exchanges and their results- Regulates what can be bought and soldo For paternalistic reasons, such as liquor lawso To enforce moral standards, such as prostitution laws- Redistributes income, in cases like taxes and social programsc. Libertarian Proposali. Reduce scale and power of state (which is associated with coercion)- Have minimal “night watchman” state- Police and courts designed to protect rightsii. This leaves maximum room for the market (which is associated with freedom)5. Policy Implicationsa. Much of what government does cannot be justified nowi. Sandel’s cases: laws prohibiting selling body parts, assisted suicide, and consensual cannibalismii. Social welfare programs, including Social Security, Medicare, minimum wage, health and safety standards, professional licensingiii. Cultural and educational fundingiv. Moral lawsb. Stipulate that for at least some of these programs they are supported by a majority of citizens and increase net well-beingc. Still, ruled out by idea that liberty is primary value, and only market exchanges are free (can argue that can get social goods through market


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OU PHIL 1273 - Utilitarian and Deontological Justifications of the Market

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