Justice Everywhere

a blog about philosophy in public affairs

Category: Economics (Page 1 of 7)

Announcement: MOOC on ‘Inequality and Democracy’

This is an announcement on behalf of the Private Property and Political Power project at Utrecht University. Its members have developed a freely-available Massive Open Online Course (MOOC) entitled “Inequality and Democracy” that may be of interest to our subscribers, readers, and/or their students.

Most countries are getting more and more unequal. But the core of democracy is political equality: that everyone should have an equal say in how their country is run. Can we really expect these things to go together? Can people have equal political power while economic inequality grows and grows? Take this course and decide for yourself.

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Multi-parenting: what would it take for it to work?

Earlier this year I published a short article arguing that multi-parenting can provide a solution to a contemporary conundrum: on the one hand, many people are increasingly worried about climate change and environmental destruction. They know that having fewer children is, for a majority of people, the most effective individual action they can take to reduce their carbon footprint. Some women go on “birth strikes” – they decide not to bring children into the world. On the other hand, life without children can be terribly impoverished. Parenting may be the most important – and creative! – act one can engage in, a non-substitutable occasion for personal growth and, for many, the central source of meaning in life. (Which is not to deny that, for many other people, a childless life is perfectly fine.)

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My pension fund, my conscience

In some situations, society permits individual citizens to not fulfil otherwise binding requirements when the latter conflict with the individual’s deeply held ethical convictions. The classic example are pacifists who obtain an exemption from military service. I submit that an argument along these lines also applies to collective pension plans. Such plans need to offer their participants a minimal level of influence over their portfolios to be legitimate.

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Child Poverty through Philosophers’ Eyes

In this post, Justice Everywhere’s Nicolás Brando and his co-editor Gottfried Schweiger introduce their recently-published collection on philosophy and child poverty.

Philosophy and Child Poverty: Reflections on the Ethics and Politics of Poor Children and their Families (2019) is the first full volume to address child poverty from a philosophical perspective. It brings together contributions from a plurality of philosophical approaches, providing an ample exploration into the conceptual, ontological, normative and applied questions that arise when looking at child poverty as a philosophical subject.

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From the Vault: The “Just Wages” Series

While Justice Everywhere takes a break over the summer, we recall from our archives some memorable posts from our 2018-2019 season.

In a first for Justice Everywhere, we hosted a colloquium on the topic of “just wages”. This discussion was sparked by a paper by Joseph Heath in the Erasmus Journal for Economics and Philosophy. Our colloquium – a précis to a full special issue on the topic – included three critical engagements with Heath’s argument, as well as a response from Heath:

Justice Everywhere will return in full swing on 2nd September with fresh weekly posts by our regular authors. If you have a suggestion for a topic or would like to contribute a guest post on a topical subject in political philosophy (broadly construed), please feel free to get in touch with us at justice.everywhere.blog@gmail.com.

Why We Need More Materialism

As the famous adage holds, we should try to Do More With Less. We’re living in a time in which minimalism has become a movement and to Marie Kondo has become a verb. As we all know, materialism is bad for the planet and people around us, but I will only focus on how self-interest might also be a significant motivator to reduce our materialism, and also give a humble suggestion as to what fundamentally underlies moving to Doing More With Less (or getting even better at it if you’re already on the programme).

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Markets and meaning – thinking about their relation

The category of „meaning“ is not one that analytically-minded folks working on public policy and PPE issues use very often. And yet, it is one that I could not stop thinking about for quite a while. I mean by it, very broadly, the kinds of projects that individuals pursue, in which certain values are realized – love, beauty, truth, or whatever, in whatever interpretation individuals chose. A quote from a text about professionalism, by historian Thomas L. Haskel, captures an unease that I had had about markets, and the economic way of thinking about them, for a long time: “Where would liberation stop if the entire social universe was given over to competing selves, none acknowledging any standard higher than his or her own desires?”[1]

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Nudging and Market Influence: Why the focus on government nudges?

Most moral objections to nudging–the practice of altering choice environments in order to subconsciously steer behavior–have been grounded in the value of personal autonomy. The autonomy of the nudged are claimed to be undermined because the control individuals have over their evaluations, deliberations and decision-making is effectively reduced, if not fully bypassed. More so, nudging seems autonomy-threatening because the architects look to supplant the wills of their targets with their own.

When nudging was first discussed by its main proponents Thaler and Sunstein in their book Nudge in 2008, it was proposed as an innovative supplement to government policy-making. In response, most of the autonomy-related objections focused on the paternalism of governments carrying out the nudging. Surprisingly, few have paid much attention to similar forms of influences in the market setting–behavioral techniques used in advertising, pricing, and other market interactions. I claim the standard autonomy-based objections against nudging raise more worries about current market practices than emerging and prospective policy practices.

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On the Very Idea of a Just Wage: Response to Critics (Just Wages Series)

In this post, Joseph Heath responds to three critical engagements with his paper, which have been published over the previous three weeks on Justice Everywhere (and in full in this EJPE symposium).

My central objective in writing this paper (“On the Very Idea of a Just Wage”) was to respond to the reappearance of what Paul Krugman has referred to, somewhat abusively, as a “cockroach idea.” The thing about cockroaches is that, no matter how many times you kill them, they keep coming back. Similarly, there are some ideas that, no matter how many times they may be refuted, nevertheless keep reappearing, or get “rediscovered” by people who consider them fresh insights.

The idea that the marginal productivity of labour represents the “contribution” that an individual worker makes to production is a cockroach idea in this sense. It is something that many people would like to believe, because it implies that the natural tendency of markets will be to set wages at a level that corresponds to an intuitively plausible principle of distributive justice (i.e. “to each according to his or her contribution”). It was, however, intensively debated in the early 20th century and rather decisively rejected.

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On the Very Idea of an Efficient Wage (Just Wages Series)

Peter Dietsch’s post is the third in our four-part series on “Just Wages.” 

There are valuable human activities which require the motive of money-making and the environment of private wealth-ownership for their full fruition. […] But it is not necessary for the stimulation of these activities […] that the game should be played for such high stakes as at present. Much lower stakes will serve the purpose equally well, as soon as the players are accustomed to them. (John Maynard Keynes, The General Theory of Employment, Interest, and Money, New York: Harcourt, 1953 [1936], 374)

This quote from John Maynard Keynes suggests that while a capitalist economy requires incentives to function, the magnitude of these incentives is variable. This suggestion puts Keynes at odds with the conventional wisdom in economics today. The latter includes the idea, eloquently presented by Joe Heath in his EJPE article, that there exists a rigid trade-off between economic efficiency and equity: If, as a society, we try to make wages more just, we will necessarily thereby undermine the efficiency of the market.

I shall argue that this conventional wisdom suffers from an important blind spot, which can explain why it overestimates the rigidity of the equity-efficiency trade-off. This blind spot lies in the fact that economists take as given the labour supply preferences of economic agents, rather than treating them as a variable of their analysis. To see why this matters, we need to introduce two concepts: reservation wages and economic rent.

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