Against Ethical Egoism & The Invisible Hand

Some people think we ought to only do what is best for ourselves, but I will present evidence that this is a misunderstanding of ethics. One argument for capitalism, libertarian justice, and ethical egoism is the invisible hand argument—if we do what is in our personal best interest, it will lead to a prosperous society. There is some truth to the invisible hand argument, but it’s not infallible. There are times that self-interest can lead to ethical actions and self-interest in a capitalistic society can lead to prosperity much of the time, but not always. I will discuss ethical egoism, the invisible hand, and reasons to reject ethical egoism and the invisible hand argument: (1) People who do wrong almost always do it because they think it’s in their self-interest, (2) what is in our self-interest isn’t always ethical, and (3) people live in an interdependent relationship.

Considerations For & Against Capitalism

Is capitalism a good idea? If so, is there any way to improve our capitalistic system? These are the sorts of questions that motivate us to face the challenges to capitalism. Many people believe that our capitalistic system has problems that need to be solved. Either they are wrong, or we should start looking for solutions. I will discuss the nature of capitalism, moral justifications of capitalism, challenges to capitalism, and new problems capitalism is facing. My discussion is based on chapter four of Business Ethics (Third Edition, 1999) by William Shaw.

Three Theories of Justice

I will discuss three theories of justice: Mill’s Utilitarianism, Rawls’s Justice as Fairness, and Nozick’s libertarianism. Much of my understanding of theories of justice comes from Business Ethics (Third Edition) by Willian H. Shaw. I will expand my discussion of justice by considering objections to each of these theories, but I do not necessarily endorse any of the objections and there could be good counterarguments against them.