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What's In A Wage? A New Approach To The Justification Of Pay, Jeffrey Moriarty
What's In A Wage? A New Approach To The Justification Of Pay, Jeffrey Moriarty
Philosophy Faculty Publications
In this address, I distinguish and explore three conceptions of wages. A wage is a reward, given in recognition of the performance of a valued task. It is also an incentive: a way to entice workers to take and keep jobs, and to motivate them to work hard. Finally, a wage is a price of labor, and like all prices, conveys valuable information about relative scarcity. I show that each conception of wages has its own normative logic, or appropriate justification, and these logics can come apart. This explains some of the debate about wages and makes the project of …
On The Origin, Content, And Relevance Of The Market Failures Approach, Jeffrey Moriarty
On The Origin, Content, And Relevance Of The Market Failures Approach, Jeffrey Moriarty
Philosophy Faculty Publications
The view of business ethics that Christopher McMahon calls the “implicit morality of the market” and Joseph Heath calls the “market failures approach” has received a significant amount of recent attention. The idea of this view is that we can derive an ethics for market participants by thinking about the “point” of market activity, and asking what the world would have to be like for this point to be realized. While this view has been much-discussed, it is still not well-understood. This paper seeks to remedy this problem. I begin by showing, against some recent commentators, that McMahon’s view and …