Download Is there a Universal Ethic? And what does that have to do with

Is there a Universal Ethic?
And what does that have to do with
economics?
Fred E. Foldvary
What is morality?
V ← e(A)
For act A, the ethic e
designates
a moral value V
of good, evil, or neutral.
Is there an ethic u,
universal to humanity,
independent of culture,
derived using reason?
Ontology:
u exists if it fits the criteria for
natural moral law.
The criteria:
1. Universal to humanity.
2. Comprehensive for all acts.
3. Logically consistent
4. Non-arbitrary: not dependent
merely on personal whim.
5. Unique: no other ethic can fit as
the basis for proper governance.
John Locke, Second Treatise of
Government (1690)
The state of nature has a law of nature
to govern it which obliges every one;
and reason, which is that law, teaches
all mankind who will but consult it
that, being all equal and independent,
no one ought to harm another in his
life, health, liberty, or possessions...
The premises
• 1) human equality
• 2) independence in thinking
and feeling
• 3) personal ethics
What acts are good?
• Acts which are welcomed
benefits are morally good.
• The value “good” originates
in subjective personal good.
Acts which affect no
others
are morally neutral.
Acts which negatively
affect others:
coercive harms,
and offenses.
Offenses
depend purely on the beliefs,
values, interests of the
affected parties:
the u.e. assigns the
moral value: neutral.
Coercive harm
is an invasion,
morally evil,
but with
qualifications:
Incidental injuries are
morally neutral.
Hypothetical acts are
neutral.
Morally evil
Direct and actual coercive
harm is morally evil.
The refusal to benefit others is
morally neutral.
The universal ethic
1. An act is good if and only if
it benefits others.
2. An act is evil if and only if it
is a direct, actual invasion.
3. All other acts are neutral.
Liberty
is the absence of legal
restrictions other than
the prohibition of
coercive harm.
Natural Rights
• The moral right to do X is
equivalent to:
• the negation of X is evil:
• R(A) = (u(-A) → E)
• Moral rights are human or
natural rights.
The function of the universal ethic:
the moral foundation for law and
governance.
• 1) No legal restriction on peaceful and
honest acts.
• 2) No taxes on non-invasive human
action. Public revenue from fees,
fines, natural resources.
The law of the market.
To the creator belongs the
creation.
The pure market
consists of voluntary exchange.
“Voluntary” implies an ethic.
A universal meaning of “market”
implies a universal ethic.
The u.e. determines “market.”
The free market is ethical.
The same ethic that
determines the meaning of
the market also determines
justice, and so a pure free
market is inherently ethical.
Applications
* Pollution: trespass,
compensation.
* Poverty: opportunity denied.
* Crime: only with victims.
The free society
Equal rights for all,
Privileges for none.