Tuesday, March 17, 2015

Consequences, Freedom, Wealth

According to Consequentialism, the ultimate bearer of Value is the outcome of any action. Thus, for example, the value of the psychological conditions under which an action is performed, e. g. whether intentional or not, is a function of what results, i. e. it is never the thought that counts. So, likewise, whether or not behavior is 'free', however that might be defined, has no inherent value, according to Consequentialism. Now, Smith's system is squarely in the Consequentialist tradition--derived from Hume's doctrine, and elucidated by Bentham's calculus. Thus, Freedom has no intrinsic value in Capitalism, whether the goal is the wealth of a nation, or that of a person, even if acquired via a lottery.

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