Is there a Universal Ethic?

And what does that have to do with economics?

Fred E. Foldvary

What is morality?

V ← e(A)For act A, the ethic e

designates a moral value V

of good, evil, or neutral.

Is there an ethic u, universal to humanity, independent of culture, derived using reason?

Ontology: u exists if it fits the criteria for

natural moral law.

The criteria:1. Universal to humanity.

2. Comprehensive for all acts.

3. Logically consistent

4. Non-arbitrary: not dependent merely on personal whim.

5. Unique: no other ethic can fit as the basis for proper governance.

John Locke, Second Treatise of Government (1690)

The state of nature has a law of nature to govern it which obliges every one; and reason, which is that law, teaches all mankind who will but consult it that, being all equal and independent, no one ought to harm another in his life, health, liberty, or possessions...

The premises

• 1) human equality

• 2) independence in thinking and feeling

• 3) personal ethics

What acts are good?

• Acts which are welcomed benefits are morally good.

• The value “good” originates in subjective personal good.

Acts which affect no others

are morally neutral.

Acts which negatively affect others:

coercive harms,

and offenses.

Offenses

depend purely on the beliefs, values, interests of the affected parties:

the u.e. assigns the moral value: neutral.

Coercive harm

is an invasion,

morally evil,

but with

qualifications:

Incidental injuries are morally neutral.

Hypothetical acts are neutral.

Morally evil

Direct and actual coercive harm is morally evil.

The refusal to benefit others is morally neutral.

The universal ethic

1. An act is good if and only if it benefits others.

2. An act is evil if and only if it is a direct, actual invasion.

3. All other acts are neutral.

Liberty

is the absence of legal restrictions other than the prohibition of coercive harm.

Natural Rights

• The moral right to do X is equivalent to:

• the negation of X is evil:

• R(A) = (u(-A) → E)

• Moral rights are human or natural rights.

The function of the universal ethic:

the moral foundation for law and governance.

• 1) No legal restriction on peaceful and honest acts.

• 2) No taxes on non-invasive human action. Public revenue from fees, fines, natural resources.

The law of the market.

To the creator belongs the creation.

The pure marketconsists of voluntary exchange.

“Voluntary” implies an ethic.

A universal meaning of “market” implies a universal ethic.

The u.e. determines “market.”

The free market is ethical.

The same ethic that determines the meaning of the market also determines justice, and so a pure free market is inherently ethical.

Applications

* Pollution: trespass, compensation.

* Poverty: opportunity denied.

* Crime: only with victims.

The free society

Equal rights for all,

Privileges for none.