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AP/SOSC 2340/2349 6.o Intermediate Business & Society Lecture 4: Libertarianism

AP/SOSC 2340/2349 6.o Intermediate Business & Society Lecture 4: Libertarianism. Canadian income distribution (2007). CEO earnings in Canada ( 2010). The 100 highest paid Canadian CEOs earned $8.4 million on average, 27% more than in 2009.

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AP/SOSC 2340/2349 6.o Intermediate Business & Society Lecture 4: Libertarianism

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  1. AP/SOSC 2340/2349 6.o Intermediate Business & Society Lecture 4: Libertarianism

  2. Canadian income distribution (2007)

  3. CEO earnings in Canada (2010) The 100 highest paid Canadian CEOs earned $8.4 million on average, 27% more than in 2009. The average salary for a Canadian full-time worker was $44,366, scarcely higher than in 2009-10. Source: http://www.policyalternatives.ca/sites/default/files/uploads/publications/National%20Office/2012/01/Canadas%20CEO%20Elite%20100FINAL.pdf

  4. CEO earnings in Canada (2010) The top 50 CEOs earned 255 more than the average worker in 2010. In 1995 the top 50 CEOs earned 85 times more than the average worker. Of the 100 highest paid CEOs in 2010, 99 were men.

  5. Libertarianism Robert Nozick, Anarchy, State, Utopia (1974).

  6. Patterned principles of justice A principle of justice which envisages a particular (just) pattern of distribution to which society’s distribution is to conform. Examples: • Equality of income and wealth. • Distribution of wealth according to need. • Maximising social welfare (happiness)

  7. Historical principles of justice Historical principles of justice ask notwhether distribution conforms to a particular pattern but whether distribution came about by just means or through a just process. If it did, then each person is entitledto what s/he owns.

  8. Just acquisition & ownership One can justly take ownership of something in two ways: • Through original acquisition, • Through transfer (purchase or receipt as a gift). Acquiring wealth in these ways entitles you to your wealth.

  9. “Liberty upsets patterns” Nozick’s Wilt Chamberlain example.

  10. Desert and fairness 1) Does Wilt Chamberlain deserve his wealth? 2) Does Wilt Chamberlain deserve the talents from which his wealth derives?

  11. Taxation and the state What is the legitimate role of the state in society? Minimal state No moralising legislation

  12. Freedom of contract Should the government ever prohibit contractual agreements between individuals? Example: selling parts of bodies. See next week’s topic: “markets and morals”

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