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The Moral Foundations of Politics

Yale, , Prof. Ian Shapiro

Updated On 02 Feb, 19

Overview

Information and Housekeeping - Natural Law Roots of the Social Contract Tradition - Origins of Classical Utilitarianism - Classical Utilitarianism and Distributive Justice - From Classical to Neoclassical Utilitarianism - The Neoclassical Synthesis of Rights and Utility - Limits of the Neoclassical Synthesis - The Marxian Challenge - Marx's Theory of Capitalism - Marxian Exploitation and Distributive Justice - The Marxian Failure and Legacy - Appropriating Locke Today - Rights as Side Constraints and the Minimal State - Compensation versus Redistribution - The Rawlsian Social Contract - Distributive Justice and the Welfare State - The "Political-not-Metaphysical" Legacy - The Burkean Outlook - Democracy and Majority Rule - Democratic Justice: Theory,Applications

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Lecture 11: Marxian Exploitation and Distributive Justice

4.1 ( 11 )

Lecture Details

Moral Foundations of Politics (PLSC 118)

Exploitation is an important technical--not normative--concept in the theory of Karl Marx. Although we are dealing with voluntary Pareto transactions, under capitalism, exploitation occurs whether or not an individual is better off. Capitalism is destined to fail, says Marx, because of (1) the possibility for liquidity crises, (2) the nature of capitalist competition inducing declining marginal profit on the industry-wide level, (3) the fact that capitalist competition eliminates competitors and promotes monopolies, (4) weak demand, as workers could not pool their money and buy all that they produce, and (5) the fact that "workers will come to realize that they have nothing to lose but their chains." However, communism (that distribution should be "to each according to his needs") can only arise from socialism ("to each according to his work"), which in turn can only arise from superabundance created by capitalism. However, scarcity is very much a reality, which makes superabundance impossible; this, Professor Shapiro points out, is the major weakness in Marxs theory.

Complete course materials are available at the Open Yale Courses website httpopen.yale.educourses

This course was recorded in Spring 2010.