Business Ethics & CSR

Naeem ASHRAF
Spring, 2015
LUMS
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Libertarianism

Libertarianism
No redistribution of income from rich to poor
rules out any law that requires some people to
help others, including taxation for redistribution of
wealth

Any attempt to bring about greater economic

equality was bound to be coercive and
destructive of a free society (Hayek)

Libertarianism
Are we entitled to use coercion to prevent
someone from doing what one chooses to do?
(Friedman)
Social security; Minimum wage; occupational
licensing (untrained barber / physician)

Libertarianism
Individuals have rightsso strong and farreachingthatthey raise the question of what, if
anything, the state may do.only a minimal state,
limited to enforcing contracts and protecting
people against force, theft, and fraud, is
justified. Any more extensive state violates
persons rights not to be forced to do certain
things, and is unjustified (Nozick)
Nozick: What makes income distribution just?
Justice in acquisition (initial holdings)
Justice in transfer (free market)
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Libertarianism
Nozick: What makes income distribution just?
Distributive Patterns/equality vs Liberty
Redistributive Taxation and Forced Labor
Taxation: taking earnings ->forced labor -> slavery

Justice and What Really Happened

Self-possession
Who own me?
If I own myself, I own my labor, and fruits of labor

Paternalism
Coercion
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Objections
The poor need the money more
Taxation is not as bad as forced labor
Taxation by consent of the governed is not
coercion
The successful owe a debt to society (so they
repay by paying taxes)

Libertarianism
The poor need the money more
Maybe so, but persuade affluent to support, give them
free choice; dialysis

Taxation is not as bad as forced labor

Yes; but why should you be forced to make that choice;

Taxation by consent of the governed is not coerced

If rich voted against the law? Wealth confiscation?

The successful owe a debt to society (so they repay by

paying taxes)
People have already been paid market value of their
services
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THANKS !