David Schweickart moves beyond the familiar arguments against globalizing capitalism to contribute something absolutely necessary and long overdue—a coherent vision of a viable, desirable alternative to capitalism. He names this system Economic Democracy, a successor-system to capitalism which preserves the efficiency strengths of a market economy while extending democracy to the workplace and to the structures of investment finance. Drawing on both theoretical and empirical research, Schweickart shows how and why this model is efficient, dynamic, and superior to capitalism along (...) a range of values. (shrink)

Although Considered By A Few Critics That The Sentence Structures Of The Book Are Quite Incomprehensible And Almost Unbearable To Read, The Book Is An Essential ...

Remarks on political philosophy -- Lectures on Hobbes -- Lectures on Locke -- Lectures on Hume -- Lectures on Rousseau -- Lectures on Mill -- Lectures on Marx.

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: Introduction: Rawls Against Capitalism Rawls's Critique of “Welfare State Capitalism” Rawls (and Meade) on the Aims and Features of “Property‐Owning Democracy” Putting the Democracy into Property‐Owning Democracy: POD and the Fair Value of the Political Liberties Power, Opportunity, and Control of Capital: POD and Fair Equality of Opportunity Power, Status, and Self‐Respect: POD, the Difference Principle, and the Value of Equality Welfare State Capitalism and Property‐Owning Democracy: Ideal Types, Public Policy, and Real Politics Conclusion ‐ (...) Liberty, Equality, and Property‐Owning Democracy References. (shrink)

The first book-length study of property-owning democracy, Republic of Equals, argues that a society in which capital is universally accessible to all citizens is uniquely placed to meet the demands of justice. Arguing from a basis in liberal-republican principles, this expanded conception of the economic structure of society contextualizes the market to make its transactions fair. It shows that a property-owning democracy structures economic incentives such that the domination of one agent by another in the market is structurally impossible. The (...) result is a renovated form of capitalism in which the free market is no longer a threat to social democratic values but is potentially convergent with them. It is argued that a property-owning democracy has advantages that give it priority over rival forms of social organization such as welfare-state capitalism and market socialist institutions. The book also addresses the currently high levels of inequality in the societies of the developed West to suggest a range of policies that target the “New Inequality” of the twenty-first century. For this reason, the work engages not only with political philosophers such as John Rawls, Philip Pettit, and John Tomasi but also with the work of economists and historians such as Anthony B. Atkinson, François Bourguignon, Jacob S. Hacker, Lane Kenworthy, and Thomas Piketty. (shrink)

This book is the first detailed reconstruction of the late work of John Rawls, who was perhaps the most influential philosopher of the twentieth century. Rawls's 1971 treatise, A Theory of Justice, stimulated an outpouring of commentary on 'justice-as-fairness,' his conception of justice for an ideal, self-contained, modern political society. Most of that commentary took Rawls to be defending welfare-state capitalism as found in Western Europe and the United States. Far less attention has been given to Rawls's 2001 book, Justice (...) as Fairness: A Restatement. In the Restatement, Rawls not only substantially reformulates the 'original position' argument for the two principles of justice-as-fairness but also repudiates capitalist regimes as possible embodiments. Edmundson further develops Rawls's non-ideal theory, which guides us when we find ourselves in a society that falls well short of justice. (shrink)

John Rawls says: “The main problem of distributive justice is the choice of a social system.” Property-owning democracy is the social system that Rawls thought best realized the requirements of his principles of justice. This article discusses Rawls’s conception of property-owning democracy and how it is related to his difference principle. I explain why Rawls thought that welfare-state capitalism could not fulfill his principles: it is mainly because of the connection he perceived between capitalism and utilitarianism.

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)

From a pre-publication review by the late Austrian economist, Don Lavoie, of George Mason University: -/- "The book's radical re-interpretation of property and contract is, I think, among the most powerful critiques of mainstream economics ever developed. It undermines the neoclassical way of thinking about property by articulating a theory of inalienable rights, and constructs out of this perspective a "labor theory of property" which is as different from Marx's labor theory of value as it is from neoclassicism. It traces (...) roots of such ideas in some fascinating and largely forgotten strands of the history of economics. It draws attention to the question of "responsibility" which neoclassicism has utterly lost sight of. It is startlingly fresh in its overall approach, and unusually well written in its presentation. ... It constitutes a better case for its economic democracy viewpoint than anything else in the literature." . (shrink)

An egalitarian interpretation and defence of Rawls's principles of justice and their institutional and policy implications in response to G. A. Cohen's criticisms of Rawls's alleged justification of unequalizing incentives.

An egalitarian interpretation and defence of Rawls's principles of justice and their institutional and policy implications in response to G. A. Cohen's criticisms of Rawls's alleged justification of unequalizing incentives. Keywords Applied Philosophy Social and Political Philosophy Rawls G.A. Cohen difference priciple incentives justice property-owning democracy.

This paper argues that a guaranteed income is not only consistent with the principle of reciprocity but is required for reciprocity. This conclusion follows from a three-part argument. First, if a guaranteed income is in place, all individuals have the same opportunity to live without working. Therefore, those who choose not to work do not take advantage of a privilege that is unavailable to everyone else. Second, in the absence of an unconditional income, society is, in effect, applying the principle, (...) “(S)he who does not work, will not eat.” If the application of this principle is to be consistent with reciprocity, it must be applied to everyone. Most modern industrial societies exempt many citizens from that choice. For example, the owners of external assets do not face the work-or-starve choice and do take advantage of a privilege that is not available to others. An unconditional guaranteed income is one way to eliminate that violation of reciprocity. Third, this paper addresses the criticism that the guaranteed income exploits middle-class workers by demonstrating that a basic income will have a positive effect on wages, which will at least partially counteract the effect of the taxes needed to pay for it. (shrink)

State provision of “merit goods” and of narrowly targeted cash payments has higher priority than large universal cash grants. Analysis of the Swedish budget shows that advanced countries do not have the taxing capacity to do both at once. Other problems with cash payments schemes include the disincentive to work for pay, reducing taxpaying capacity, and retrograde effects on gender equality. After the achievement of a welfare state, rises over time in productivity may gradually open up room in the national (...) budget for universal cash payments. (shrink)

This volume unites, for the first time, Books IV and V of Mill's great treatise on political economy with his fragmentary chapters on socialism. His answers to policy questions are still highly relevant today, and Riley's introduction clarifies his distinctive liberal utilitarian philosophy.

This article assesses John Rawls's case against the welfare state as a means for implementing socio-economic justice, and for a ‘property-owning democracy’, from both a normative and a methodological point of view. It points out several flaws of Rawls's critique of the welfare state, through a focus on an existing variety of it — a Swedish-style universal welfare state — which can be said to be relatively successful, both in terms of normative merits and in terms of institutional stability and (...) capacity for self-perpetuation. On this basis, the article argues that a universal welfare state should constitute the institutional bedrock of Rawlsian social justice, even though it cannot completely fulfil all its requirements. It also develops some reasons to think that, in order to adequately and stably implement those requirements of Rawlsian justice that cannot be fulfilled even by a universal welfare state, the latter should be supplemented by democratic socialism, not by a ‘property-owning democracy’. (shrink)

Property-owning democracies combine the regulative and redistributive functions of the welfare state with the governmental aim of ensuring that wealth and capital are widely dispersed. John Rawls, political philosophy’s most famous property-owning democrat, argued that property-owning democracy was one of two regime types that best realized his two principles of justice, though he was notoriously vague about how a property-owning democracy’s institutions are meant to realize his principles. To compensate for this deficiency, a number of Rawlsian political philosophers have tried (...) to add institutional and policy content to the idea. While their efforts have advanced the discussion, few have criticized the soundness of these attempts. This article attempts to fill the void. I claim that, in comparison to welfare-state capitalism, property-owning democracy is both prohibitively impractical and unjust on Rawlsian grounds. I first argue that property-owning democracy is economically ineffective. Even granting the assumptions of Rawlsian ideal theory, property-owning democracies generate bad incentives and face severe information problems in comparison to more market-friendly welfare states. Further, in nonideal theory the motivations of political officials and citizens will likely be corrupted by the temptation to abuse the awesome state power at their disposal. Second, I argue that property-owning democracy is unjust relative to welfare-state capitalism. The three principles used to defend property-owning democracy—the difference principle, the principle of fair equality of opportunity and the “political liberty” proviso—do not vindicate property-owning democracy and may even prohibit it. Welfare-state capitalism does much better. (shrink)

The first book length study of property-owning democracy, Republic of Equals argues that a society in which capital is universally accessible to all citizens is uniquely placed to meet the demands of justice. Arguing from a basis in liberal-republican principles, this expanded conception of the economic structure of society contextualizes the market to make its transactions fair. The author shows that a property-owning democracy structures economic incentives such that the domination of one agent by another in the market is structurally (...) impossible. The result is a renovated form of capitalism in which the free market is no longer a threat to social democratic values, but is potentially convergent with them. It is argued that a property-owning democracy has advantages that give it priority over rival forms of social organization such as welfare state capitalism and market socialist institutions. The book also addresses the currently high levels of inequality in the societies of the developed West to suggest a range of policies that target the "New Inequality" of our times. For this reason, the work engages not only with political philosophers such as John Rawls, Philip Pettit and John Tomasi, but also with the work of economists and historians such as Anthony B. Atkinson, François Bourguignon, Jacob S. Hacker, Lane Kenworthy, and Thomas Piketty. (shrink)

In Justice as Fairness, Rawls presents a case for property-owning democracy (POD) which heavily depends on a favourable comparison with welfare state capitalism (WSC). He argues that WSC, but not POD, fails to realise ‘all the main political values expressed by the two principles of justice’. This article argues that Rawls’s case for POD is incomplete. He does not show that POD is superior to other conceivable forms of WSC. In order to present a serious contender, I sketch what I (...) call a realistically utopian welfare state (RUWS) that (a) guarantees the fair equality of political liberties and opportunity and that (b) maximises the situation of the worst.-off via a kind of participation income. The main aim of the article is to give credibility to the claim that RUWS is not obviously worse than POD by Rawlsian standards and therefore deserves a fair hearing in further research. (shrink)

Drawing on ideas and arguments identifiable within the tradition of 'left-libertarianism', this book develops market democratic interpretations of the ideas of predistribution and the property-owning democracy, and presents a powerful case for an institutional reform which constitutes a genuinely progressive alternative to more familiar social democratic institutions.