{"id":3786,"date":"2021-06-23T23:33:10","date_gmt":"2021-06-23T23:33:10","guid":{"rendered":"https:\/\/dccs.udd.cl\/?p=3786"},"modified":"2021-06-23T23:33:10","modified_gmt":"2021-06-23T23:33:10","slug":"a-theory-of-just-market-exchange-2","status":"publish","type":"post","link":"https:\/\/gobierno.udd.cl\/doctorate\/2021\/06\/23\/a-theory-of-just-market-exchange-2\/","title":{"rendered":"A Theory of Just Market Exchange"},"content":{"rendered":"<p>Guzm\u00e1n, R. A., &amp; Munger, M. C. (2020). A Theory of Just Market Exchange. The Journal of Value Inquiry, 54(1), 91-118.<\/p>\n<p><strong>Abstract<\/strong><\/p>\n<p>The idea that unconscionable bargaining power can be an instrument of coercion can be traced back at least to Locke (<a id=\"ref-link-section-d23001e370\" title=\"Locke, J. 2016. Venditio. In Philosophy, Politics, and Economics: An Anthology, ed. J. Anomaly, G. Brennan, M. Munger, and G. Sayre-McCord. New York: Oxford University Press\" href=\"https:\/\/link.springer.com\/article\/10.1007\/s10790-019-09686-5#ref-CR8\" data-track=\"click\" data-track-action=\"reference anchor\" data-track-label=\"link\" data-test=\"citation-ref\" aria-label=\"Reference 2003\">2003<\/a>) and Hume (<a id=\"ref-link-section-d23001e373\" title=\"Hume, D. 1888. A treatise of human nature. Oxford: Clarendon Press.\" href=\"https:\/\/link.springer.com\/article\/10.1007\/s10790-019-09686-5#ref-CR5\" data-track=\"click\" data-track-action=\"reference anchor\" data-track-label=\"link\" data-test=\"citation-ref\" aria-label=\"Reference 1888\">1888<\/a>). Hume proposed the following example: &#8220;A man, dangerously wounded, who promises a competent sum to a surgeon to cure him, wou&#8217;d certainly be bound to performance; tho&#8217; the case be not so much different from that of one, who promises a sum to a robber.&#8221; Hume (<a id=\"ref-link-section-d23001e376\" title=\"Hume, D. 1888. A treatise of human nature. Oxford: Clarendon Press.\" href=\"https:\/\/link.springer.com\/article\/10.1007\/s10790-019-09686-5#ref-CR5\" data-track=\"click\" data-track-action=\"reference anchor\" data-track-label=\"link\" data-test=\"citation-ref\" aria-label=\"Reference 1888\">1888<\/a>; p. 125). In recent decades, this idea has attracted renewed interest among moral philosophers, most notably Frankfurt (<a id=\"ref-link-section-d23001e379\" title=\"Frankfurt, H. 1973. Coercion and moral responsibility. In Essays on freedom of action, ed. T. Honderich and K. Paul. London: Routledge.\" href=\"https:\/\/link.springer.com\/article\/10.1007\/s10790-019-09686-5#ref-CR2\" data-track=\"click\" data-track-action=\"reference anchor\" data-track-label=\"link\" data-test=\"citation-ref\" aria-label=\"Reference 1973\">1973<\/a>; p. 71); Lyons (<a id=\"ref-link-section-d23001e382\" title=\"Lyons, D. 1975.Welcome threats and coercive offers. Philosophy 50 (194): 425\u2013436.\" href=\"https:\/\/link.springer.com\/article\/10.1007\/s10790-019-09686-5#ref-CR9\" data-track=\"click\" data-track-action=\"reference anchor\" data-track-label=\"link\" data-test=\"citation-ref\" aria-label=\"Reference 1975\">1975<\/a>; 425\u2013436); O&#8217;Neill (<a id=\"ref-link-section-d23001e386\" title=\"O\u2019neill, O. (1985). Between consenting adults. Philosophy of Public Affairs, 252-277.\" href=\"https:\/\/link.springer.com\/article\/10.1007\/s10790-019-09686-5#ref-CR16\" data-track=\"click\" data-track-action=\"reference anchor\" data-track-label=\"link\" data-test=\"citation-ref\" aria-label=\"Reference 1985\">1985<\/a>, 252\u2013277); McGregor (<a id=\"ref-link-section-d23001e389\" title=\"McGregor, J. 1988. Bargaining advantages and coercion in the market. Philosophy Research Archives 14: 23\u201350.\" href=\"https:\/\/link.springer.com\/article\/10.1007\/s10790-019-09686-5#ref-CR10\" data-track=\"click\" data-track-action=\"reference anchor\" data-track-label=\"link\" data-test=\"citation-ref\" aria-label=\"Reference 1988\">1988<\/a>, 23\u201350); Olsaretti (<a id=\"ref-link-section-d23001e392\" title=\"Olsaretti, S. 1998. Freedom, force and choice: Against the rights-based definition of voluntariness. Journal of Political Philosophy 6 (1): 53\u201378.\" href=\"https:\/\/link.springer.com\/article\/10.1007\/s10790-019-09686-5#ref-CR14\" data-track=\"click\" data-track-action=\"reference anchor\" data-track-label=\"link\" data-test=\"citation-ref\" aria-label=\"Reference 1998\">1998<\/a>;\u00a0<a id=\"ref-link-section-d23001e395\" title=\"Olsaretti, S. 2004. Liberty, desert and the market. New York: Cambridge University Press.\" href=\"https:\/\/link.springer.com\/article\/10.1007\/s10790-019-09686-5#ref-CR15\" data-track=\"click\" data-track-action=\"reference anchor\" data-track-label=\"link\" data-test=\"citation-ref\" aria-label=\"Reference 2004\">2004<\/a>, 119\u2013154), Snyder (<a id=\"ref-link-section-d23001e398\" title=\"Snyder, J.C. 2008. Needs exploitation. Ethical Theory and Moral Practice 11 (4): 389\u2013405.\" href=\"https:\/\/link.springer.com\/article\/10.1007\/s10790-019-09686-5#ref-CR22\" data-track=\"click\" data-track-action=\"reference anchor\" data-track-label=\"link\" data-test=\"citation-ref\" aria-label=\"Reference 2008\">2008<\/a>, 389\u2013405),\u00a0Zwolinski (<a id=\"ref-link-section-d23001e401\" title=\"Zwolinski, M. 2009. Price gouging, non-worseness, and distributive justice. Business Ethics Quarterly, 19(2): 295\u2013306.\" href=\"https:\/\/link.springer.com\/article\/10.1007\/s10790-019-09686-5#ref-CR31\" data-track=\"click\" data-track-action=\"reference anchor\" data-track-label=\"link\" data-test=\"citation-ref\" aria-label=\"Reference 2009\">2009<\/a>), and Munger (<a id=\"ref-link-section-d23001e405\" title=\"Munger, M.C. 2011. Euvoluntary or not, exchange is just. Social Philosophy and Policy 28 (2): 192\u2013211.\" href=\"https:\/\/link.springer.com\/article\/10.1007\/s10790-019-09686-5#ref-CR12\" data-track=\"click\" data-track-action=\"reference anchor\" data-track-label=\"link\" data-test=\"citation-ref\" aria-label=\"Reference 2011\">2011<\/a>). More recently, Vrousalis (<a id=\"ref-link-section-d23001e408\" title=\"Vrousalis, N. 2013. Exploitation, vulnerability, and social domination. Philosophy &amp; Public Affairs 41 (2): 131\u2013157.\" href=\"https:\/\/link.springer.com\/article\/10.1007\/s10790-019-09686-5#ref-CR24\" data-track=\"click\" data-track-action=\"reference anchor\" data-track-label=\"link\" data-test=\"citation-ref\" aria-label=\"Reference 2013\">2013<\/a>) connects exploitation with domination, seeking to define exploitation as the self-enriching instrumentalization of another&#8217;s vulnerability. Finally, the rejection of substantial inequality in bargaining strength is a condition of the exchange situation, not a condition of the wealth positions of the participants in a broader sense. The issues discussed in regard to the diminishing marginal utility of wealth and the arguments for redistribution are summarized in Schmidtz (<a id=\"ref-link-section-d23001e411\" title=\"Schmidtz, D. 2000. Diminishing marginal utility and egalitarian redistribution. The Journal of Value Inquiry 34 (2): 263\u2013272.\" href=\"https:\/\/link.springer.com\/article\/10.1007\/s10790-019-09686-5#ref-CR19\" data-track=\"click\" data-track-action=\"reference anchor\" data-track-label=\"link\" data-test=\"citation-ref\" aria-label=\"Reference 2000\">2000<\/a>). We are considering only the narrow situation of the exchange itself.<\/p>\n<p>Read the paper <a href=\"https:\/\/link.springer.com\/article\/10.1007%2Fs10790-019-09686-5\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>here<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Guzm\u00e1n, R. A., &amp; Munger, M. C. (2020). A Theory of Just Market Exchange. The Journal of Value Inquiry, 54(1), 91-118. Abstract The idea that unconscionable bargaining power can be an instrument of coercion can be traced back at least to Locke (2003) and Hume (1888). Hume proposed the following example: &#8220;A man, dangerously wounded, [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":3704,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-3786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-publications"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>A Theory of Just Market Exchange - Doctoral Program in Social Complexity Sciences<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gobierno.udd.cl\/doctorate\/2021\/06\/23\/a-theory-of-just-market-exchange-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Theory of Just Market Exchange - Doctoral Program in Social Complexity Sciences\" \/>\n<meta property=\"og:description\" content=\"Guzm\u00e1n, R. A., &amp; Munger, M. C. (2020). A Theory of Just Market Exchange. The Journal of Value Inquiry, 54(1), 91-118. Abstract The idea that unconscionable bargaining power can be an instrument of coercion can be traced back at least to Locke (2003) and Hume (1888). 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