Locke argues that the consent of market participants to the introduction of money justifies the economic inequalities resulting from monetarization. This paper shows that Locke’s argument fails to justify such inequalities. My critique proceeds in two parts. Regarding the consequences of the consent to money, neo-Lockeans wrongly take consent to justify inequalities in the original appropriation of land. In contrast, I defend the view that consent can only justify inequalities resulting directly from monetized commercial exchange. Secondly, regarding the nature of (...) consent, neo-Lockeans uncritically accept Locke’s account of money as a natural institution. In contrast, I argue that money is an irreducibly political institution and that monetary economies cannot develop in the state of nature. My political account of money has far-reaching implications for the normative analysis of the global monetary system and the justification of the economic inequalities consequent upon it. (shrink)

Philosophical defenses of property regimes can be classified as supporting either a conservative politics of property rights—the political protection of existing property titles—or a radical politics of direct political intervention to redistribute property titles. Traditionally, historical considerations were used to legitimize conservative property‐rights politics, while consequentialist arguments led to radical politics. Recently, however, the philosophical legitimations have changed places. Conservatives now point to the beneficial economic consequences of something like the current private‐property regime, while radicals justify political redistribution as restitution (...) for historical misappropriations. This shift can be explained by such factors as the failure of state‐directed redistributions of property during the twentieth century to benefit the poor. But there are limitations to the usefulness of historical arguments for radicals, and of consequentialist arguments for conservatives: namely, the undeserving poor and the idle rich, respectively. (shrink)

:Self-ownership has fallen out of favor as a core moral and political concept. I argue that this is because the most popular conception of self-ownership, what I call the property conception, is typically linked to a libertarian political program. Seeing self-ownership and libertarianism as being necessarily linked leads those who are not inclined toward libertarianism to reject the idea of self-ownership altogether. This, I argue, is a mistake. Self-ownership is a crucial moral and political concept that can earn its keep (...) if we understand it not as type of property right in the self, but rather as a set of territorial rights one has over one’s body. This territorial conception of self-ownership, which I call the sovereignty conception of self-ownership, avoids the traditional arguments raised against the property conception of self-ownership and has other benefits besides. Accepting this conception of self-ownership, I argue, has considerable moral and political benefits without taking on the costs associated with other forms of self-ownership. (shrink)

Ao colocar em evidência a legitimidade de uma instituição defendida por Locke, ou seja, o direito genérico que todos os membros da espécie humana têm de utilizar os recursos da natureza para preservar a sua existência, fca nítido que a propriedade privada exclusiva só é justifcável com o acréscimo de obrigações sociais rigorosas, apresentadas pelo próprio autor, para garantir que ela não prejudique a preservação da existência de qualquer dos membro da espécie, pelo simples fato de que a realidade de (...) uma instituição não pode contradizer o fundamento que lhe confere legitimidade. A partir disso, este texto se propõe a contestar a conclusão de Matthew Kramer de que a tentativa de Locke de estabelecer a legitimidade da propriedade privada no estado de natureza está fadada ao fracasso. (shrink)

The thesis that an analysis of property rights is essential to an adequate analysis of the state is a mainstay of political philosophy. The contours of the type of government a society has are shaped by the system regulating the property rights prevailing in that society. Views of this sort are widespread. They range from Locke to Nozick and encompass pretty much everything else in between. Defenders of this sort of view accord to property rights supreme importance. A state that (...) does not sufficiently respect property rights is likely to be a totalitarian state, and will also be likely to fail to respect rights of other sorts. (shrink)

Writers of very different persuasions have relied on arguments about self-ownership; in recent years, it is libertarians who have rested their political theory on self-ownership, but Grotian authoritarianism rested on similar foundations, and, even though it matters a good deal that Hegel did not adopt a full-blown theory of self-ownership, so did Hegel's liberal-conservatism. Whether the high tide of the idea has passed it is hard to say. One testimony to its popularity was the fact that G. A. Cohen for (...) a time thought that the doctrine of self-ownership was so powerful that an egalitarian like himself had to come to terms with it; but he has since changed his mind. I have tackled the topic of self-ownership glancingly elsewhere, but have not hitherto tried to pull together the observations I have made in passing on those occasions. The view I have taken for granted and here defend is that self-ownership is not an illuminating notion—except in contexts that are unattractive to anyone of libertarian tastes. (shrink)

Research in recent history has neglected to address the moral foundations of particular kinds of public policy such as the protection of intellectual property rights (IPRs). On the one hand, nation-states have enforced a tightening of the IPR system. On the other, only recently have national government and international institutions recognised that the moral justification for stronger IPRs protection is far from being plausible and cannot be taken for granted. In this article, IPRs are examined as individual rights founded upon (...) natural law, personality development, just reward and social utility. It is argued that these foundations cannot be philosophically sustained. IPRs constitute morally indefensible political developments which aim to reproduce the capitalist division of knowledge and labour at national, international and global levels. The need for such a critical approach to the moral foundations of IPRs has increased in importance as a consequence of their role in justifying corporate power, globalisation policies and harmonisation of such. (shrink)

Since the establishment of the Human Genome Project and the identification of genes in human DNA that play a role in human diseases and disorders, a long, moral and political, battle has began over the extension of IPRs to information contained in human genetic material. According to the Nuffield Council on Bioethics, over the past 20 years, large numbers of human genes have been the subject of thousands of patent applications. This paper examines whether human gene patents can be justified (...) in terms of liberal theories of morality such as natural law, personality development, just reward and social utility. It is argued that human gene patents are in conflict with fundamental principles of liberal morality and justice because they result in "genetic information feudalism". (shrink)

G.A. Cohen has produced an influential criticism of libertarian‐ism that posits joint ownership of everything in the world other than labor, with each joint owner having a veto right over any potential use of the world. According to Cohen, in that world rationality would require that wealth be divided equally, with no differential accorded to talent, ability, or effort. A closer examination shows that Cohen's argument rests on two central errors of reasoning and does not support his egalitarian conclusions, even (...) granting his assumption of joint ownership. That assumption was rejected by Locke, Pufendorf and other writers on property for reasons that Cohen does not rebut. (shrink)

Journal of Political Philosophy, EarlyView.

This article redescribes early modern European defenses of private property in terms of a theoretical project of seeking to establish the true or essential nature of property. Most of the scholarly literature has focused on the historical and normative issues relating to the various accounts of original acquisition around which these defenses were organized. However, in my redescription, these so-called “original acquisition stories” appear as methodological devices for an analytic reduction and resolution of property into its fundamental elements and axioms. (...) Through these stories, property is “created” in the form of the classical liberal paradigm of presumptively exclusive, private ownership of material things. The problem is that this project of “creation” is also a project which arbitrarily excludes or marginalizes other forms and systems of property, and especially usufructuary forms of common property. After critically explicating this early modern project of creation, I go on to argue that the classical liberal paradigm and its problems continue to inform property theory and discourse in the late modern era. (shrink)

This essay examines the most recent justifications for a people's exclusive right to resources as part of a territorial right. Divided into eight parts, the discussion covers contemporary philosophical discussion regarding: the conception of natural resources, the conception of resource rights, the general form of arguments supporting resource rights, arguments from self-determination, objections to arguments from self-determination, arguments from residence, arguments from improvement, and new directions for research in the future.

This essay deals with property rights in body parts that can be exchanged in a market. The inquiry arises in the following context. With some exceptions, the laws of many countries permit only the donation, not the sale, of body parts. Yet for some years there has existed a shortage of body parts for transplantation and other medical uses. It might then appear that if more sales were legally permitted, the supply of body parts would increase, because people would have (...) more incentive to sell than they currently have to donate. To allow sales is to recognize property rights in body parts. To allow sales, however, makes body parts into “commodities”—that is, things that can be bought and sold in a market. And some view it as morally objectionable to treat body parts as commodities. (shrink)

This paper examines the relationship between justice and colonialism. It defines colonialism; examines the kind of injustice that colonialism involved; and the possibility of corrective justice.

:Following Locke, philosophical discussion of private property has tended to focus on the acquisition of natural resources as central. In this paper I first pursue the idea that the resource paradigm doesn't apply to most developed economies, and show how this creates problems for many accounts of property. My second ambition is to draw a normative conclusion by showing that redistribution of wealth generated in the context of services is more difficult to justify compared with the natural resource paradigm philosophers (...) have often focused on. (shrink)

This essay examines three potential arguments against high-frequency trading and offers a qualified critique of the practice. In concrete terms, it examines a variant of high-frequency trading that is all about speed—low-latency trading—in light of moral issues surrounding arbitrage, information asymmetries, and systemic risk. The essay focuses on low-latency trading and the role of speed because it also aims to show that the commonly made assumption that speed in financial markets is morally neutral is wrong. For instance, speed is a (...) necessary condition for low-latency trading’s potential to cause harm in “flash crashes.” On the other hand, it also plays a crucial role in a Lockean defense against low-latency trading being wasteful developed in this essay. Finally, this essay discusses the implications of these findings for related high-frequency trading techniques like futures arbitrage or latency arbitrage—as well as for an argument as to why quote stuffing is wrong. Overall, the qualifications offered in this essay act as a counterbalance to overblown claims about trading at high speeds being wrong. (shrink)

The issue of abortion is discussed with reference to the claim that people have a right of control over their own bodies. Do people "own" their own bodies? If so, what would be entailed? These questions are discussed in commonsense terms and also in relation to the jurisprudence of Hohfeld, Honore, Munzer and Waldron. It is argued that whether or not women are morally and/or should be legally entitled to have abortions, such entitlements cannot be derived from a general moral (...) entitlement to do what we will with our own bodies since there is no such entitlement. Whether or not we "own" them, we can have rights duties, liabilities, restrictions and disadvantages as well as rights concerning our own bodies. (shrink)

I present and defend Reinach's theory of ownership according to which, prior to the positive law, one finds a distinction between possession, ownership and property rights. Ownership is not a bundle of positive rights, but a primitive natural relation that grounds the absolute right to behave as one wishes towards the thing one owns. In reply to some objections raised against it, I argue that Reinach's theory of property is morally and politically non-committal; and that it in fact has the (...) ressources for dealing with the vexing issue of the origin of ownership. (shrink)

This article traces John Rawls’s debt to Frank Knight’s critique of the ‘just deserts’ rationale for laissez-faire in order to defend justice as fairness against some prominent contemporary criticisms, but also to argue that desert can find a place within a Rawlsian theory of justice when desert is grounded in reciprocity. The first lesson Rawls took from Knight was that inheritance of talent and wealth are on a moral par. Knight highlighted the inconsistency of objecting to the inheritance of wealth (...) while taking for granted the legitimacy of unequal reward based on differential productive capacity. Rawls agreed that there was an inconsistency, but claimed that it should be resolved by rejecting both kinds of inequality, except to the extent they benefitted the worst off. The second lesson Rawls learned from Knight was that the size of one’s marginal product depends on supply and demand, which depend on institutional decisions that cannot themselves be made on the basis of the principle of rewarding marginal productivity. The article claims that this argument about background justice overstates its conclusion, because the dependence of contribution on institutional setup is not total. Proposals for an unconditional basic income may therefore have a strike against them, as far as a reciprocity-based conception of desert is concerned. If we follow Knight’s analysis of the competitive system, however, so too does the alternative of leaving determination of income up to the market. (shrink)

In our commonplace understanding of property, the “right to exclude” is seen as its central and defining feature: to own is to exclude. This paper examines the cost, to conceptual and normative clarity, of this understanding. First, I argue that the right not to be excluded is a crucial if overlooked element not simply of liberal understandings of ownership, but even of the right to exclude itself. Second, I argue that our neglect of the right not to be excluded severely (...) undermines the clarity and precision with which matters of ownership are debated within both contemporary politics and political philosophy. (shrink)

ABSTRACTEntrepreneurs should act as stewards of entrepreneurial rent. Entrepreneurial rent is the difference between the ex post value of a venture and its ex ante costs. It is the result of competition among buyers and sellers within the market process rather than the sole efforts of the entrepreneur. As a result, entrepreneurs should allocate entrepreneurial rent for the benefit of other market participants rather than consuming it for themselves. The moral obligation to steward entrepreneurial rent is consistent with traditional bases (...) of property rights and the norm of social welfare maximization, and it applies to corporations and their shareholders, as well as individual entrepreneurs. (shrink)

Arguments about the ownership of natural resources have focused on the claims of cosmopolitans, who urge an equality of global claims to resources, and resource sovereigntists, who argue that national peoples are the proper owners of their resources. This focus is mistaken: Whatever one believes about the in-principle claims of the global community, there remains the practical question of how the national surplus is to be distributed. And in addressing this question, we must look at a distinction heretofore ignored in (...) resource discussions—that between resident workers and citizens. I argue that the extracted value of natural resources should benefit all residents of the states in which they are found, not merely all citizens. By contrast, control of natural resources should be vested in a democratic citizenry, who are nonetheless normatively constrained by the distributive principle described above. I illustrate the argument with data showing the gap, especially in the Gulf States, between principles that allocate benefits to all citizens vs. to all resident workers. My argument is grounded in a broader theory of collective agency as it applies to questions of distributive justice, and it is aimed not only to criticize practices in the Gulf but to support the more inclusive resource policies found in democracies. (shrink)

While Hegel’s political philosophy has been attacked on the left by republican democrats and on the right by feudalist reactionaries, his apologists see him as a liberal reformer, a moderate who theorized about the development of a free-market society within the bounds of a stabilizing constitutional state. This centrist view has gained ascendancy since the end of the Second World War, enshrining Hegel within the liberal tradition. In this book, Renato Cristi argues that, like the Prussian liberal reformers of his (...) time, Hegel was committed to expand the scope of a free economy and concurrently to ensure that the social practice of subjective freedom did not endanger political stability and order. Aware that a system of mutual advantage failed to integrate the members of civil society and that profound social disharmonies were ineradicable, Hegel adopted the views of the French liberal _doctrinaires_, who sought to realize the principles of the French Revolution by supporting Louis XVIII’s sovereign assertion of the monarchical principle. Not surprisingly, Hegel hailed the French _Charte_ of June 1814 as a beacon of freedom. Endorsement of the monarchical principle was meant to prevent the atomized individuals of civil society from gaining control of the state through appeals to popular sovereignty. This challenges most conventional interpretations of Hegel’s theory of the state and draws it closer to the conservative-authoritarian end of the political spectrum than is usual. (shrink)

John Searle’s The Construction of Social Reality and Hernando de Soto’s The Mystery of Capital shifted the focus of current thought on capital and economic development to the cultural and conceptual ideas that underpin market economies and that are taken for granted in developed nations. This collection of essays assembles 21 philosophers, economists, and political scientists to help readers understand these exciting new theories.

Indigenous cultural possessions constitute a diverse global issue. This issue includes some culturally important, intangible tribal objects. This is evident in the Australian copyright cases viewed in this study, which provide examples of disputes over traditional Indigenous visual art. A proposal for the legal recognition of Indigenous cultural possessions in Australia is also reviewed, in terms of a new category of law. When such cultural objects are in an artistic form they constitute the tribe's self-presentation and its mechanism of cultural (...) continuity. Philosophical arguments for the legal recognition of Indigenous intellectual `property' tend to assume that the value of Indigenous intellectual property is determinable on external criteria. (shrink)

Indigenous and non-indigenous communities in Latin America make land claims and support them with a variety of arguments. Some, such as Zapatistas and the Mapuche, have appealed to the “ancestral” or “historical” connections between specific communities and the land. Other groups, such as MST in Brazil, have appealed to the extremely unequal distribution of the land and the effects of this on the poor; the land in this case is seen mainly as a means for securing a decent standard of (...) living for members of disadvantaged groups. Although there is a large literature on the history as well as the social and political dimensions of land contestations and conflicts in Latin America, the question of whether the land claims put forward by disadvantaged groups can be morally justified has not been adequately examined. In this essay, we investigate the scope and limits of appeals to what we shall call assistance-based, contribution-based, and benefitting-based moral reasons with respect to land claims made by these disadvantaged groups. (shrink)

Although John Locke’s theory of appropriation is undoubtedly influential, no one seems to agree about exactly what he was trying to say. It is unlikely that someone will write the interpretation that effectively ends the controversy. Instead of trying to find the one definitive interpretation of Locke’s property theory, this article attempts to identify the range of reasonable interpretations and extensions of Lockean property theory that exist in the contemporary literature with an emphasis on his argument for unilateral appropriation. It (...) goes through Locke’s argument point-by-point discussing the controversy over what he said and over what he perhaps should have said to make the most valuable and coherent argument. The result is an outline of Lockean theories of property: a menu of options by which one might use appropriation to justify property rights. Supporters only need to pick the version they find most plausible, but opponents should be aware of the entire menu. Anyone claiming to refute appropriation-based property rights must address not only one but all potentially valid versions of it. (shrink)

Cosmopolitans hold that our duties of distributive justice to others do not stop at borders. Darrel Moellendorf is among those who defend the view that principles of distributive justice are applicable beyond borders. He suggests as a principle of international justice the global difference principle, which allows inequalities in the distribution of wealth and resources only if they are to the greatest advantage of the least advantaged individuals. In this paper, I try to indicate that Moellendorf’s argument for the global (...) difference principle is far from sustaining it. Instead, I argue for a minimum floor principle of distributive justice on the basis of the idea that each person ought to have an equal standard of living with respect to the fulfillment of their basic interests. I also propose the principle of contribution backed up by the principle of fair equality of opportunity, aiming to equalize background conditions of a competition for socially favored positions, as the basic principles of a complete account of global distributive justice.Kozmopolitanisti drže da se naše dužnosti distributivne pravednosti prema drugima ne zaustavljaju na granicama. Darrel Moellendorf je među onima koji brane gledište da su načela distributivne pravednosti primjenjiva s onu stranu granica. Kao načelo međunarodne pravednosti on predlaže globalno načelo razlike, koje nejednakosti u raspodjeli bogatstva i resursâ dopušta samo ako su one u najveću korist najlošije stojećih individua. U ovome članku pokušavam pokazati da Moellendorfov argument u prilog globalnog načela razlike to načelo nimalo ne potkrepljuje. Umjesto toga argumentiram u prilog načela distributivne pravednosti minimalne razine na osnovi zamisli da bi svaka osoba trebala imati jednaki standard življenja s obzirom na ispunjenje njezinih osnovnih interesa. Ujedno kao osnovna načela potpunog opisa globalne distributivne pravednosti predlažem načelo doprinosa poduprto načelom pravične jednakosti mogućnosti, koje stremi izjednačavanju pozadinskih uvjeta natjecanja za društveno favorizirane pozicije. (shrink)