In this paper we analyse the concept of coerced exchange (and partly of voluntary exchange inasmuch as the absence of coercion is its necessary condition), which is of utmost importance to economic theory in general and to the Austrian School of Economics in particular. The subject matter literature normally assumes that a coerced action occurs under threat. Threats in turn can be studied from the perspective of speech act theory, which is concerned with the speaker’s intentions. Ultimately, our goal is (...) to provide a descriptive (i.e. non-moralized) definitions of threat and coercion, based on the analysis of the coercer’s intentions. If successful, we would be in a position to present such an account of coerced and voluntary exchanges that is compatible with both speech act theory and the Austrian methodology. Although we focus on the Austrian School of Economics, we believe that our investigations might impact on economic theory in general. We also criticize a rights-based account of coercion employed in the research practice of some neo-Austrians and based on the libertarian ethic of property rights. (shrink)

This paper discusses global reserve currencies from the perspective of structural global justice. Drawing on notions of structural justice and background justice, it suggests that the structures of global finance, by creating positions of privilege and disadvantage, can lead to injustices both with regard to distributive outcomes and with regard to domination. While the role of the dollar and Euro as global reserve currencies are not the only factors that contribute to these structural injustices, they need to be taken into (...) account to fully grasp the dynamics of global finance. They also have an impact on other mechanisms, such as sovereign debt, capital flows, and the governance of international financial institutions. The paper’s arguments support the claim that one cannot conceptualize global justice as justice between independent states. Rather, the global monetary regime constitutes a case of “background injustice” (Ronzoni 2009). (shrink)

How should we measure medicines’ global health impact to set targets, monitor performance and improve health around the world? Can such a metric provide a philosophically well-grounded basis for an ethical consumption campaign that will create incentives for pharmaceutical companies and other agents to expand (equitable) access to essential medicines? And if such metrics exist, how should we think about our individual obligations to support ethical consumption campaigns on this basis? This paper reflects on these questions in light of Tim (...) Campbell’s, Yukiko Asada’s, and Andreas Albertsen’s worries about the answers I provide in Global Health Impact: Extending Access on Essential Medicines. I explain how reflecting on treatments consequences for individuals’ ability to live minimally well supports the creation of the Global Health Impact (GHI) index (https://global-health-impact.org/). I also consider how the index might be modified to better support efforts to promote everyone’s human rights. Finally, I argue that individuals should often promote positive change through GHI and other ethical consumption campaigns. (shrink)

:How should consumers exercise their basic economic powers? Recently, several authors have argued that consumption to bring about social change must be democratic. Others maintain that we may consume in ways that we believe promote positive change. This paper rejects both accounts and provides a new alternative. It argues that, under just institutions, people may consume as they like as long as they respect the institutions’ rules. Absent just institutions, significant moral constraints on consumption exist. Still, it is permissible, if (...) not obligatory, for people to pursue non-democratic, genuinely positive, change within whatever moral constraints exist. (shrink)

The Wage Setting Process In this paper I will defend a conception of fairness in labor markets. I will argue that we should take a procedural approach to the evaluation of fairness in markets. The procedural approach defended here goes beyond the traditional procedural view that requires only the absence of force and fraud. But it avoids the pitfalls of the other classical conception of fairness in the market: the idea of a just wage or just price. Fairness in markets (...) is analogous to fairness in the democratic process. I will start with a discussion and critique of Joseph Heath’s stimulating discussion of fairness in labor markets. Though I agree in part with his assessment of the just wage tradition, I will argue that there is room for thinking about fairness in markets. I will then lay out a conception of fairness that is based on the analogy with democracy. The procedural idea of equal power can be given an interpretation both in perfectly competitive markets and in imperfectly competitive markets. I will show how this approach has implications for conceiving of how firms ought to be organized and for defining a fair process of wage setting in the essentially highly imperfect conditions of the labor market. (shrink)

Hassoun argues that the poor in the world have a right to health and that the Global Health Impact Index provides consumers in well-off countries with the opportunity to ensure that more people have access to essential medicines. Because of this, these consumers would be ethically obliged to purchase Global Health Impact Index-labeled products in the face of existing global inequalities. In presenting her argument, Hassoun rejects the so-called democratic account of ethical consumption in favor of the positive change account. (...) Two versions of the democratic change account are relevant. One underscores the importance of democratic procedures and institutions, while the other stresses our fundamental moral equality. While at least one prominent institutionalist account has problems, revised versions would be less vulnerable to Hassoun’s counterexamples. Furthermore, institutionalist accounts come with the epistemological gains from democratic procedures and deliberations, which may be especially important under uncertainty. Finally, and perhaps more challenging for the Global Health Impact index project, this measure may place the burden unfairly on those who need to buy medicines. This is a pivotal insight from the non-institutionalist version of the democratic account of ethical consumption. (shrink)