Mike Munger, Duke University

Type: 

Colloquia

Academic Year: 

Semester: 

Fall

Topic: 

An Analytical Theory of Just Market Exchange

Thursday, 9/17/17 - 12:30 to 13:45

Location: Social Sciences 311

We welcome faculty, students, and staff of the Philosophy and Moral Science Departments as well as members of the wider University community.

Abstract:

The problem of moral sensibility as a source for political preference is widely discussed.  This paper presents a parametric model for comparing differences in a particularly salient moral conception:  the importance of disparity or inequality in bargaining position as a source of motivations to regulate exchange.  Economists have assumed that "voluntary" exchanges are the norm, but this view is widely disputed.  Our conception of "voluntary" exchange allows for a problematized view of alternatives, and we are able to offer implications of this theory for the actions of moral agents in a commercial setting.  Not least, this approach gives analytical purchase on the question of when "voluntary" exchanges might nonetheless legitimately be regulated by political authorities.