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…Brad Delong has it:
In 20 years, historians will interview the then-aged monetary, banking, and fiscal policymakers of the 2000’s. They will ask them why they did not take more aggressive steps to return nominal incomes and demand to trend levels when they were sitting in the hot seats. I already wonder what their excuses will be.
I don’t care much for what the fiscal policymakers will have to say…I’ll be largely interested in the state of monetary policy-making in 20 years, and how our crisis will look through that future lens. Will this chart haunt our current monetary policymakers’ future nightmares?
Brad Delong got me interested in the details of a few of these cases
You can sleep easy if you play by the rules even if you think the rules are non-optimal, as long as you point that out. That’s Milton Friedman.
You cannot sleep easy if you play by the rules if you think the rules give you a license to steal. That’s Robert Nozick, Robert Bork, and Ayn Rand.
That’s the difference between utilitarian and deontological theories. Deontology is a bitch.
To catch up, Robert Nozick freely entered into a lease with his landlord, Eric Segal. After living in apartment for a year or so, Nozick then sued Segal for violating rent control laws and further refused to move out unless paid additional compensation. According to his moral theories this constituted extortion.
Ayn Rand, received Social Security and possible Medicare payments to cover lung cancer treatment. This is despite her characterization of the welfare state as theft and a particularly egregious form of theft because it is legal.
Robert Bork sued the Yale Club after suffer a slip and fall, despite arguing against frivolous lawsuits. I couldn’t find enough information on Bork – in the short time I looked – to get a real sense of his moral philosophy concerning slip and falls.
For Nozick and Rand, however, these are clear breaches of the most common interpretations of their moral philosophy. Does this undermine their philosophy at all?
On one level we are of course tempted to say, no what is true is true regardless of whether the popularizer of those truths honors them. On the other hand “ought” implies “can.” If not even Nozick and Rand can hold to these principles are they a meaningful guide to how we ought to structure our society? While these are by no means view-killing breaches, they do raise the question: is anyone capable of living according to these maxims?
I looked a little in Nozick and Rand’s response. By my reading Nozick’s offers a fair degree of absolution for his philosophy while Rand’s leaves me scratching my head.
Nozick via Julian Sanchez
I knew at the time that when I let my intense irritation with representatives of Erich Segal lead me to invoke against him rent control laws that I opposed and disapproved of, that I would later come to regret it, but sometimes you have to do what you have to do.
This reads to me as this: Yes, what I did was wrong. I knew it at the time, but I was pissed.
This statement moves the onus from the philosophy to the individual. Had Nozick dithered and said “Well, but Segal deserved it” that would be different. Instead, he seems to admit that he acted immorally.
Said another way, its one thing to abandon your principles you when find that they are inconvenient to you. It’s another to fall victim to weakness of will and do something you know you will later regret. We don’t have any philosophy, save perhaps hedonism, that protects people from weakness of will.
Rand on the other hand claimed
It is obvious, in such cases, that a man receives his own money which was taken from him by force, directly and specifically, without his consent, against his own choice. Those who advocated such laws are morally guilty, since they assumed the “right” to force employers and unwilling co-workers. But the victims, who opposed such laws, have a clear right to any refund of their own money—and they would not advance the cause of freedom if they left their money, unclaimed, for the benefit of the welfare-state administration.
This is much iffier. Here she does seem to be saying that different rules apply to her followers simply because they are her followers. This has the feel of ad hocery. There might be significantly more, but it seems to be a more eloquent way of saying “We were just sticking it to the man, that was sticking it to us.”
Doesn’t the taking of benefits imply that more resources will have to be confiscated to support the program? And, while appealing for a refund makes perfect sense, simply using the system without a guarantee that you are matching funds put-in with funds taken-out and certainly without the express permission of the people who are currently being taxed seems morally ambiguous in Rand’s own terms.