Abstract

Justice requires that high consumption in affluent societies be slowed down for the sake of eradicating extreme poverty in the developing world and improving the condition of its very moderate consumers. A slowdown of high consumption for the sake of ending worldwide poverty can be realized through a social regulation of the global economy. This social regulation should include labor standards, environmental measures, rules for global capital investments, and a distributive schema that shifts some of the wealth obtained from globalization from the rich countries to the developing world. To avoid that the social regulation of the global economy would have a regressive impact on lower-income groups in the affluent societies, a progressive consumption tax should be adopted with a standard deduction large enough so that these groups would not have to pay any tax at all. Attempts to slow down high consumption through a social regulation of the global economy will meet two institutional limits, the sovereign state and capitalism. In the final instance, justice and joyful simplicity for all humans may require cosmopolitan democracy and socialism.