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Libertarianism & Markets and Morals - Coggle Diagram
Libertarianism & Markets and Morals
Core Principles of Libertarianism
Minimal Government
No paternalism, moral legislation, or wealth redistribution.
Arguments for
- Robert Nozick’s Theory: The government’s only role is to protect individual rights,
Critique of Government Regulation:
Individuals should be free to make choices, even risky ones.
Criticisms-
Public Goods and Fairness
: Some regulations (e.g., roads, defense) benefit all.
Self Ownership
People have complete control over their own bodies and lives
Free Markets
All voluntary exchanges should be allowed without interference.
Arguments for-
Taxation as Forced Labor:
Income tax is seen as a violation of self-ownership.
Critiques-
Market Coercion
: Economic desperation can make "voluntary" choices less free,
Extreme Inequality
: Absolute economic freedom can lead to exploitation.
Commodification and Ethical Boundaries of Markets
Michael Sandel's Critique
Some goods should not be sold
Ex: Human organs or military service
Commodification can lead to corruption
When markets take over certain good/services that don't align with market principles (education, health) it corrupts them and replaces the values with commercialized values
Market Intrusion on Personal Life
When a service that involves personal engagement becomes commercialized, it loses authenticity
Ex: a paid friendship is not the same as a genuine friendship since friendship at its core is built on voluntary connection, not a financial transaction
Wealth and Power Imbalance
The rich have more opportunities and choices, leading to unfair advantages
Controversial Markets: surrogacy and prostitution
Both of these markets show how markets can corrupt nature such as intimacy and parenthood
Why Market Regulations are Necessary
:check:
Protects Workers :silhouettes:
Ex: An employee at a sweatshop that still works because they need any money they can get
Actual Autonomy vs. Exploitation
Ex: Prostitution being illegal in most states
Stops your body from being monetized
Protects the desperate
Ex: the poor resorting to selling their organs
Can be caused by coercion or just desperation
Turns the human body into monetary parts
Protects social responsibilities :smiley:
Jury Duty
You don't get paid for jury duty because it's considered a social responsibility
Social responsibilities don't become inauthentic :
Free Market Philosophy
Voluntary exchange
Free markets are the most efficient and moral way in regards to economic activity
Redistribution
Oppose redistribution of wealth through taxation or welfare programs. People are entitled to the fruits of their labor
Taxation is the same as forced labor
Moral neutrality
Markets must be neutral so that any individual can pursue any activity without the barrier of moral/ethical standards.
Individuals have the right to make their own choices, including drugs or assisted suicide, regardless if they may be viewed negatively by society.