Though the revised edition of A Theory of Justice, published in 1999, is the definitive statement of Rawls's view, so much of the extensive literature on Rawls's theory refers to the first edition. This reissue makes the first edition once again available for scholars and serious students of Rawls's work.

Property-Owning Democracy: Rawls and Beyond features a collection of original essays that represent the first extended treatment of political philosopher John Rawls' idea of a property-owning democracy. Offers new and essential insights into Rawls's idea of "property-owning democracy" Addresses the proposed political and economic institutions and policies which Rawls's theory would require Considers radical alternatives to existing forms of capitalism Provides a major contribution to debates among progressive policymakers and activists about the programmatic direction progressive politics should take in the (...) near future. (shrink)

In this stimulating work of political philosophy, acclaimed philosopher G. A. Cohen sets out to rescue the egalitarian thesis that in a society in which distributive justice prevails, peopleâes material prospects are roughly equal. Arguing against the Rawlsian version of a just society, Cohen demonstrates that distributive justice does not tolerate deep inequality. In the course of providing a deep and sophisticated critique of Rawlsâes theory of justice, Cohen demonstrates that questions of distributive justice arise not only for the state (...) but also for people in their daily lives. The right rules for the macro scale of public institutions and policies also apply, with suitable adjustments, to the micro level of individual decision-making. Cohen also charges Rawlsâes constructivism with systematically conflating the concept of justice with other concepts. Within the Rawlsian architectonic, justice is not distinguished either from other values or from optimal rules of social regulation. The elimination of those conflations brings justice closer to equality. (shrink)

Democracy is not naturally plausible. Why turn such important matters over to masses of people who have no expertise? Many theories of democracy answer by appealing to the intrinsic value of democratic procedure, leaving aside whether it makes good decisions. In Democratic Authority, David Estlund offers a groundbreaking alternative based on the idea that democratic authority and legitimacy must depend partly on democracy's tendency to make good decisions.Just as with verdicts in jury trials, Estlund argues, the authority and legitimacy of (...) a political decision does not depend on the particular decision being good or correct. But the "epistemic value" of the procedure--the degree to which it can generally be accepted as tending toward a good decision--is nevertheless crucial. Yet if good decisions were all that mattered, one might wonder why those who know best shouldn't simply rule.Estlund's theory--which he calls "epistemic proceduralism"--avoids epistocracy, or the rule of those who know. He argues that while some few people probably do know best, this can be used in political justification only if their expertise is acceptable from all reasonable points of view. If we seek the best epistemic arrangement in this respect, it will be recognizably democratic--with laws and policies actually authorized by the people subject to them. (shrink)

John Tomasi's Free Market Fairness treats both traditions with depth, nuance, and unremitting fair-mindedness, and then points us toward a synthesis. Social democrats and libertarians equally need to read this book.

In this classic work of feminist political thought, Iris Marion Young challenges the prevailing reduction of social justice to distributive justice.

Advocates of ?deliberative democracy? want citizens to actively participate in serious dialogue over political issues, not merely go to the polls every few years. Unfortunately, these ideals don't take into account widespread political ignorance and irrationality. Most voters neither attain the level of knowledge needed to make deliberative democracy work, nor do they rationally evaluate the political information they do possess. The vast size and complexity of modern government make it unlikely that most citizens can ever reach the levels of (...) knowledge and rationality required by deliberative democracy, even if they were better informed than they are at present. (shrink)

David Brady argues that low European poverty rates are a result of the welfare state. His finding relies on a relative measure of poverty, according to which the threshold for being poor differs across countries. Using the American poverty threshold as a fixed measure, though, Western Europe has a poverty rate of 18 percent, higher than that of the United States. Moreover, Brady's thesis that welfare-state spending explains cross-country differences in inequality does not take account of the problem of reverse (...) causality. Historically, welfare states developed in homogeneous nations that started out with higher levels of social capital and lower inequality. Scandinavia, for example, had unusually low poverty rates a century ago, and even today Americans with Scandinavian ancestry exhibit a poverty rate no higher than that in Scandinavia. Since poverty, social capital, population homogeneity, and the size of the welfare state relate in multiple ways to each other, we cannot rely on cross-country correlations to isolate the causal effect of the welfare state on poverty rates. (shrink)

Though the revised edition of A Theory of Justice, published in 1999, is the definitive statement of Rawls's view, so much of the extensive literature on Rawls's theory refers to the first edition.

F. A. Hayek's realistic economic theory has been replaced by the formalistic use of equlibrium models that bear little resemblance to reality. These models are as serviceable to the right as to the left: they allow the economist either to condemn capitalism for failing to measure up to the model of perfect competition, or to praise capitalism as a utopia of perfect knowledge and rational expectations. Hayek, by contrast, used equilibrium to show that while capitalism is not perfect, it contains (...) error‐correcting institutions that bring it closer to perfection than is intuitively apparent. (shrink)

Karl Popper's methodology highlights our scientific ignorance: hence the need to institutionalize open‐mindedness through controlled experiments that may falsify our fallible theories about the world. In his endorsement of “piecemeal social engineering,” Popper assumes that the social‐democratic state and its citizens are capable of detecting social problems, and of assessing the results of policies aimed at solving them, through a process of experimentation analogous to that of natural science. But we are not only scientifically but politically ignorant: ignorant of the (...) facts that underpin political debate, which are brought to our attention by theories that, as Max Weber emphasized, can be tested only through counterfactual thought experiments. Public‐opinion and political‐psychology research suggest that human beings are far too unaware, illogical, and doctrinaire to conduct the rigorous theorizing that would be necessary to make piecemeal social engineering work. F.A. Hayek realized that the public could not engage, specifically, in piecemeal economic regulation but failed to draw the conclusion that this was due to a specific type of political ignorance: ignorance of economic theory. (shrink)

Winner of the 1975 National Book Award, this brilliant and widely acclaimed book is a powerful philosophical challenge to the most widely held political and social positions of our age--liberal, socialist, and conservative.

This book originated as lectures for a course on political philosophy that Rawls taught regularly at Harvard in the 1980s.

This chapter contains sections titled: Contractualist Justification and Private Property Three Models of Welfare Rights The Proposals as Reasonable Alternatives Objections Conclusion References.

What is justice? Questions of justice are questions about what people are due. However, what that means in practice depends on the context in which the question is raised. Depending on context, the formal question of what people are due is answered by principles of desert, reciprocity, equality, or need. Justice, therefore, is a constellation of elements that exhibit a degree of integration and unity. Nonetheless, the integrity of justice is limited, in a way that is akin to the integrity (...) of a neighborhood rather than that of a building. A theory of justice offers individuals a map of that neighborhood, within which they can explore just what elements amount to justice. (shrink)

First published in 1982. Routledge is an imprint of Taylor & Francis, an informa company.

ABSTRACT The underlying cause of the financial meltdown was much more mundane than a “crisis of capitalism”: The real origins lay in mostly obscure housing, tax, and regulatory policies of the U.S. government. The Community Reinvestment Act, the affordable‐housing “mission” of Fannie Mae and Freddie Mac, penalty‐free refinancing of home loans, penalty‐free defaults on home loans, tax preferences for home‐equity borrowing, and reduced capital requirements for banks that held mortgages and mortgage‐backed securities combined with each other to create the incentives (...) for both subprime lending and the housing bubble that eventually led to the financial collapse. (shrink)

Part I of this essay supports the anti-egalitarian conclusion that individuals may readily become entitled to substantially unequal extra-personal holdings by criticizing end-state and pattern theories of distributive justice and defending the historical entitlement doctrine of justice in holdings. Part II of this essay focuses on a second route to the anti-egalitarian conclusion. This route combines the self-ownership thesis with a contention that is especially advanced by G.A. Cohen. This is the contention that the anti-egalitarian conclusion can be inferred from (...) the self-ownership thesis without the aid of additional controversial premises. Cohen advances this contention, not because he wants to support the anti-egalitarian conclusion, but rather because he wants to emphasize the need for one to reject the self-ownership thesis if one is to reject the anti-egalitarian conclusion. In Part II of this essay, I support this second route to the anti-egalitarian conclusion by reinforcing Cohen's special contention while rejecting his challenges to the self-ownership thesis. Cohen's special contention is reinforced by way of an explanation of why the redistributive state must trench upon some people's self-ownership rights. One important challenge to the self-ownership thesis is answered through the articulation of a new and improved Lockean proviso. Another challenge offered by Cohen is answered by arguing that the philosophical costs of denying the self-ownership thesis are as great as the self-ownership libertarian maintains. Thus, I defend both of the key elements of self-ownership libertarianism, the self-ownership thesis and the anti-egalitarian conclusion. Key Words: autonomy • distributive justice • egalitarianism • exploitation • Lockean proviso • self-ownership • slavery. (shrink)

This contribution to economic philosophy considers Marx's pronouncements on the organization of future society, and in this context re-examines the long-lasting debate triggered by Mises's argument that modern industrial production requires a system of spontaneously-formed market prices. In an undogmatic, non-technical treatment, Steele contends that both the Marxian conception of future society and the Misesian argument against its feasibility have frequently been misunderstood. The work scrutinizes the replies to Mises, and explores some of the wider issues raised by the economic (...) calculation debate. (shrink)

Defends a theory of social justice for education from within an egalitarian version of liberalism. The theory involves a strong commitment to educational equality, and to the idea that children's rights include a right to personal autonomy. The book argues that school reform must always be evaluated from the perspective of social justice and applies the theory, in particular, to school choice proposals. It looks at the parental choice schemes in Milwaukee, Wisconsin, and in England and Wales, and argues that (...) they fall short of the requirements of justice, but that not all such schemes must do so. It elaborates an abstract voucher scheme that would combine choice with justice, and offers ways by which actual choice‐based reform can be modified to meet the requirements of justice. (shrink)

Part I of this essay supports the anti-egalitarian conclusion that individuals may readily become entitled to substantially unequal extra-personal holdings by criticizing end-state and pattern theories of distributive justice and defending the historical entitlement doctrine of justice in holdings. Part II of this essay focuses on a second route to the anti-egalitarian conclusion. This route combines the self-ownership thesis with a contention that is especially advanced by G.A. Cohen. This is the contention that the anti-egalitarian conclusion can be inferred from (...) the self-ownership thesis without the aid of additional controversial premises. Cohen advances this contention, not because he wants to support the anti-egalitarian conclusion, but rather because he wants to emphasize the need for one to reject the self-ownership thesis if one is to reject the anti-egalitarian conclusion. In Part II of this essay, I support this second route to the anti-egalitarian conclusion by reinforcing Cohen's special contention while rejecting his challenges to the self-ownership thesis. Cohen's special contention is reinforced by way of an explanation of why the redistributive state must trench upon some people's self-ownership rights. One important challenge to the self-ownership thesis is answered through the articulation of a new and improved Lockean proviso. Another challenge offered by Cohen is answered by arguing that the philosophical costs of denying the self-ownership thesis are as great as the self-ownership libertarian maintains. Thus, I defend both of the key elements of self-ownership libertarianism, the self-ownership thesis and the anti-egalitarian conclusion. (shrink)

In this book, Daniel Shapiro argues that the dominant positions in contemporary political philosophy - egalitarianism, positive rights theory, communitarianism, and many forms of liberalism - should converge in a rejection of central welfare state institutions. He examines how major welfare institutions, such as government-financed and -administered retirement pensions, national health insurance, and programs for the needy, actually work. Comparing them to compulsory private insurance and private charities, Shapiro argues that the dominant perspectives in political philosophy mistakenly think that their (...) principles support the welfare state. Instead, egalitarians, positive rights theorists, communitarians, and liberals have misunderstood the implications of their own principles, which in fact support more market-based or libertarian institutional conclusions than they may realize. Shapiro's book is unique in its combination of political philosophy with social science. Its focus is not limited to any particular country; rather it examines welfare states in affluent democracies and their market alternatives. (shrink)

The “ultimate objective” of this book, says David Schmidtz, “is to examine the degree to which being moral is co-extensive with being rational”. For Schmidtz, an “end” gives us a reason for action provided that its pursuit is not undercut by some other end. Morality has a two-part structure. A person’s goal is “moral” if “pursuing it helps [her] to develop in a reflectively rational way,” provided its pursuit does not violate “interpersonal moral constraints”. Interpersonal constraints are imposed by “collectively (...) rational” social institutions, institutions that “make people in general better off by nonexploitative means”. Schmidtz’s view is a form of “actualism.” Our reasons are given by our actual goals, subject to the qualification mentioned above, and moral constraints are given by actually existing collectively rational institutions. Schmidtz concedes that this framework cannot guarantee that it is rational for every agent to be moral, and he concedes that his moral theory might be incomplete. Nevertheless, he argues, “morality and rationality make room for each other in a variety of ways”. (shrink)

ABSTRACT The financial crisis was caused by the complex, constantly growing web of regulations designed to constrain and redirect modern capitalism. This complexity made investors, bankers, and perhaps regulators themselves ignorant of regulations promulgated across decades and in different “fields” of regulation. These regulations interacted with each other to foster the issuance and securitization of subprime mortgages; their rating as AA or AAA; and previously their concentration on the balance sheets (and off the balance sheets) of many commercial and investment (...) banks. As a practical matter, it was impossible to predict the disastrous outcome of these interacting regulations. This fact calls into question the feasibility of the century‐old attempt to create a hybrid capitalism in which regulations are supposed to remedy economic problems as they arise. (shrink)

ABSTRACT Asset‐market bubbles occur dependably in laboratory experiments and almost as reliably throughout economic history—yet they do not usually bring the global economy to its knees. The Crash of 2008 was caused by the bursting of a housing bubble of unusual size that was fed by a massive expansion of mortgage credit—facilitated, in turn, by the longest sustained expansionary monetary policy of the past half century. Much of this mortgage credit was extended to people with little net wealth who made (...) slender down payments, so that when the bubble burst and housing prices declined, their losses quickly exceeded their equity. These losses were transmitted to the financial system—including banks, investment banks, insurance companies, and the institutional and private investors who provided liquidity to the mortgage market through structured securities. It seems that many of these institutions became insolvent; it is certain that they became illiquid. Liquidity loss and solvency fears created a feedback cycle of diminished financing, reduced housing demand, falling housing prices, more borrower losses, and further damage to the financial system and eventually the stock market and the real economy. There are important parallels with the housing and financial‐market booms that led up to the Crash of 1929 and the Great Depression. (shrink)

Many low-income countries and development organizations are calling for greater liberalization of labor immigration policies in high-income countries. At the same time, human rights organizations and migrant rights advocates demand more equal rights for migrant workers. The Price of Rights shows why you cannot always have both. Examining labor immigration policies in over forty countries, as well as policy drivers in major migrant-receiving and migrant-sending states, Martin Ruhs finds that there are trade-offs in the policies of high-income countries between openness (...) to admitting migrant workers and some of the rights granted to migrants after admission. Insisting on greater equality of rights for migrant workers can come at the price of more restrictive admission policies, especially for lower-skilled workers. Ruhs advocates the liberalization of international labor migration through temporary migration programs that protect a universal set of core rights and account for the interests of nation-states by restricting a few specific rights that create net costs for receiving countries. The Price of Rights analyzes how high-income countries restrict the rights of migrant workers as part of their labor immigration policies and discusses the implications for global debates about regulating labor migration and protecting migrants. It comprehensively looks at the tensions between human rights and citizenship rights, the agency and interests of migrants and states, and the determinants and ethics of labor immigration policy. (shrink)

For a century and a half, the artists and intellectuals of Europe have scorned the bourgeoisie. And for a millennium and a half, the philosophers and theologians of Europe have scorned the marketplace. The bourgeois life, capitalism, Mencken’s “booboisie” and David Brooks’s “bobos”—all have been, and still are, framed as being responsible for everything from financial to moral poverty, world wars, and spiritual desuetude. Countering these centuries of assumptions and unexamined thinking is Deirdre McCloskey’s _The Bourgeois Virtues_, a magnum opus (...) that offers a radical view: capitalism is good for us. McCloskey’s sweeping, charming, and even humorous survey of ethical thought and economic realities—from Plato to Barbara Ehrenreich—overturns every assumption we have about being bourgeois. Can you be virtuous and bourgeois? Do markets improve ethics? Has capitalism made us better as well as richer? Yes, yes, and yes, argues McCloskey, who takes on centuries of capitalism’s critics with her erudition and sheer scope of knowledge. Applying a new tradition of “virtue ethics” to our lives in modern economies, she affirms American capitalism without ignoring its faults and celebrates the bourgeois lives we actually live, without supposing that they must be lives without ethical foundations. _High Noon_, Kant, Bill Murray, the modern novel, van Gogh, and of course economics and the economy all come into play in a book that can only be described as a monumental project and a life’s work. _The Bourgeois Virtues _is nothing less than a dazzling reinterpretation of Western intellectual history, a dead-serious reply to the critics of capitalism—and a surprising page-turner. (shrink)