Beyond Fear and Greed?

Abstract

Amid debates about the "end of socialism" in the wake of the collapse of communism, it is argued that several of socialism's "ethical aims" might yet be revived within a market structure. G. A. Cohen (in Franklin, Jane [Ed], 1997) has objected to both "market-wise" liberalism or socialism on ethical grounds, arguing that they rely on self-interest - specifically, "greed & fear" - to motivate people. Here, his claims are addressed in a larger discussion of several other arguments against socialism, which are explored as reaffirmations of the "Mandevillian tradition," based on the early-18th-century writings of Bernard de Mandeville & his views on the necessity of vice (ie, self-interest) over virtue for the functioning of the good society; the views of Friedrich Hayek, David Hume, & Adam Smith are also examined. Two potential correctives to Cohen's moral concerns are suggested: (1) voluntary activity, & (2) gift giving; respectively, Robert Putnam's (1993) work on voluntary associations in Italy & Richard M. Titmuss's (1997 [1970]) research on blood donation in the US & UK explore these options in detail. K. Hyatt Stewart. Show more