Is the Market a Test of Truth and Beauty?

(Jacob Rumans) #1
ȃȃǿ Partʺʺ: Politics and Philosophy

on government, and what other institutions are most conducive to a good
society and so to happiness.
Obviously I am referring to so-called “rules” or “indirect” utilitarian-
ism. Ļe supposed utilitarian who goes around looking for opportuni-
ties to frame and execute innocent men to pacify raging mobs, or to tor-
ture redheads for the amusement of the multitude, or to approve of rape
when the rapist’s pleasure outweighs the victim’s distress, is an invention
of superficial critics. Ļe shallow, act-oriented versions of utilitarianism
occasionally encountered may once have offered critics a target, but one
must wonder why anyone still pursues worthless triumphs over doctrines
that are hardly better than straw men.
Nevertheless, cheap shots at utilitarianism continue. Years ago, already,
Mises noted the phenomenon.


Hedonism, eudaemonism, and utilitarianism were condemned and out-
lawed, and whoever did not wish to run the risk of making the whole
world his enemy had to be scrupulously intent on avoiding the suspicion
that he inclined toward those heretical doctrines. Ļis must be kept in
mind if one wants to understand why many economists went to great
pains to deny the connections between their teachings and those of util-
itarianism. (MisesȀȈȂȂ/ȀȈȅǿ)

Mises was forthright, even courageous, in his utilitarianism. For this
his reputation continues to suffer even among eminent economists and
social philosophers who in other respects are carrying on his work. I urge
them to reconsider. I am not saying that Mises developed the distinction
between the act and rules or indirect versions of utilitarianism and fully
articulated the latter version. I am not saying that he examined and demol-
ished the axiomatic rights approach offered as an alternative by some of
his disciples. Doing all this was not necessary for his work in economics.
However, a sophisticated utilitarianism does fit within and extend the
philosophical framework that Mises adopted. Hazlitt, for one, extended
it. Mises was on the right track.

ŞőŒőŞőŚŏőş

Alexander, Sidney S. “Human Values and Economists’ Values.” InHuman Values
and Economic Policy, edited by Sidney Hook. New York: New York University
Press,ȀȈȅȆ.
Block, Walter.Defending the Undefendable. New York: Fleet,ȀȈȆȅ.
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