I investigate ethical questions concerning a novel cryptocurrency, Bitcoin, using a Fichtean account of the ethics of currency. Fichte holds that currencies should fulfill an ethical purpose: providing access, in perpetuity, to the material welfare that underwrites citizens' basic rights. In his nineteenth‐century context, Fichte argues that currencies fulfill this purpose better when nations control them (i.e., when they are “national currencies”) than when foreigners freely trade them (as “world currencies”). After exploring conditions in which national currencies fail to (...) secure material stability over time, e.g., in corrupt regimes, I develop a Fichtean model for ethically evaluating currencies and evaluate the extent to which Bitcoin meets its standards for ethical currency. I argue that Bitcoin undermines the (monetary) power of nations and, as such, threatens their ability to provide access to necessary material goods. While offering citizens a means of defending themselves against corrupt regimes, Bitcoin forsakes the general welfare and is, as such, unethical by Fichtean lights. (shrink)

Money in the history of political thought, from ancient Greece to the Great Inflation of the 1970s In the wake of the 2008 financial crisis, critical attention has shifted from the economy to the most fundamental feature of all market economies—money. Yet despite the centrality of political struggles over money, it remains difficult to articulate its democratic possibilities and limits. The Currency of Politics takes readers from ancient Greece to today to provide an intellectual history of money, drawing on (...) the insights of key political philosophers to show how money is not just a medium of exchange but also a central institution of political rule. Money appears to be beyond the reach of democratic politics, but this appearance—like so much about money—is deceptive. Even when the politics of money is impossible to ignore, its proper democratic role can be difficult to discern. Stefan Eich examines six crucial episodes of monetary crisis, recovering the neglected political theories of money in the thought of such figures as Aristotle, John Locke, Johann Gottlieb Fichte, Karl Marx, and John Maynard Keynes. He shows how these layers of crisis have come to define the way we look at money, and argues that informed public debate about money requires a better appreciation of the diverse political struggles over its meaning. Recovering foundational ideas at the intersection of monetary rule and democratic politics, The Currency of Politics explains why only through greater awareness of the historical limits of monetary politics can we begin to articulate more democratic conceptions of money. (shrink)

Is Currency Warfare defined as, the use of monetary or military force directed against an enemy’s monetary power as part of a military campaign, a just way to fight a war? This article explores the...

A wide variety of new forms of money have been developed in recent decades as a challenge or complement to the official, dominant currencies. LETS, Local Currencies, Carbon Currencies and Bitcoins are all examples of this new trend. These currencies are at the heart of a larger movement that questions the present state of money and argues that new currencies might help to build resilient economies and “warmer” social relations. -/- This book focuses on radical alternative proposals as well as (...) on small-scale experiments, and makes use of the analytical tools of philosophy and of economics, with one main question in mind: Can alternative currencies constitute desirable alternatives to the present monetary system? Overall, the book will raise serious doubts regarding the capacity of such currencies to deliver on their promises. In part, it will show that several arguments in favour of alternative currencies are lacking in consistency and clarity, and are thus in need of thorough revision. More fundamentally, it will argue that these currencies either fail to fulfil their objectives or that their fulfilment would entail significant conflicts with justice and economic efficiency. -/- This book is addressed to researchers in economics, politics, and philosophy of money, especially those working on alternative monetary systems. (shrink)

This article investigates the ethical foundations for both personal and commercial conduct, placing these a) for natural individuals with Kant’s categorical imperative as the standard for verification and b) for entities defined to conduct business with markets that freely determine prices among the participating actors at the moment of exchange. Pervasive digitization of transactions is noted. The concepts of currency and money are defined and examined in practice, drawing on the statements of international and US government agencies, economists as (...) well as investigative reporters. (shrink)

Alternative currencies are means of payment that circulate alongside—as an alternative or complement to—official currencies. While these currencies have existed for a long time, both society and academia have shown a renewed interest in their potential to decentralize the governance of monetary affairs and to bring people and organizations together in more ethical or sustainable ways. This article is a review of the ethical and philosophical implications of these alternative monetary projects. We first discuss various classifications of these currencies before (...) analyzing the ethical challenges linked to the way they tackle social and environmental issues. We also examine the incentive-based and coercive mechanisms used by these currencies from an ethical perspective and debate the promises and perils of monetary decentralization and democracy. We conclude by identifying an agenda for future research. (shrink)

Fines and monetary damages account for the majority of legal sanctions across the whole spectrum of legal governance. Money is, in key respects, the primary tool law has to achieve compliance. Yet money has largely been ignored by social analyses of law, and especially by social theory. _The Currency of Justice_ examines the differing rationalities, aims and assumptions built into money’s deployment in diverse legal fields and sanctions. This raises major questions about the extent to which money appears as (...) an abstract universal or whether it takes on more particular meanings when deployed in various areas of law. Indeed, money may be unique in that it can take on the meanings of punishment, compensation, denunciation or regulation. _The Currency of Justice_ examines the implications of the ‘monetization of justice’ as life is increasingly regulated through this single medium. Money not only links diverse domains of law; it also links legal sanctions to other monetary techniques which govern everyday life. Like these, the concern with monetary sanctions is not who pays, but that money is paid. Money is perhaps the only form of legal sanction where the burden need not be borne by the wrongdoer. In this respect, this book explores the view that contemporary governance is less concerned with disciplining individuals and more concerned with regulating distributions and flows of behaviours and the harms and costs linked with these. (shrink)

The main goal of this thesis is to provide a clear basis for the analysis of alternative currencies, such as Bitcoin, LETS, Local currencies, the WIR or Carbon currencies. It attempts to determine whether alternative currencies might constitute just and workable alternatives, either in the form of small-scale experiments or in the form of more radical reforms. The first chapter proposes a new way to classify currencies. The second examines the case in favour of monetary plurality. The third analyses the (...) claims in favour of restricting the use of money locally, within a community, or to certain goods. The fourth studies the link between money and the market. Finally, a post-scriptum focuses on Bitcoin and cryptocurrencies. This thesis highlights that these currencies are drivers of several potential conflicts. Their widespread use might conflict with the adequate management of monetary policy, with social justice, and with liberal values. These conflicts are potential, for they would come into existence only if alternative currencies increased in scope. However, there is no reason to disregard potential conflicts when the case in their favour relies mostly on their potential benefits. (shrink)

Se indaga la relación que se da en la República entre los dos significados de ousia: como propiedad en el sentido de posesiones y riqueza, o en el sentido de esencia o sustancia. Aparte de las relaciones económicas asociadas al préstamo, al intercambio y al interés, se examina la función que, respecto de la ousia, cumple la moneda en la economía como recurso para disociar la riqueza de las posesiones, con lo cual logra un nivel de universalidad y equivalencia equiparable (...) al del propio ser. The article inquires into the relation established in the Republic between the two meanings of ousia: property in the sense of possessions and wealth, and essence or substance. Besides the economic relations associated with loans, exchange, and interest, the paper examines the role of currency in the economy, with respect to ousia, as a means of dissociating wealth from possessions, thus achieving a degree of universality comparable to that of being itself. (shrink)

The paper presents a cross-country analysis of the second generation of currency boards introduced in three East European countries: Bulgaria, Estonia and Lithuania. We focus on their institutional, legal and political characteristics which are closely associated with the operation of the automatic mechanism of currency boards. The presence of an automatic mechanism within the framework of the currency board is often cited as a major counterpoint to the “discretion and subjectivity” of a classical central bank. Since there (...) is no precise definition of automatic mechanisms in the literature, we define it as: “the presence of a positive cointegration relationship between the balance of payments and the reserve money and absence of discretionary variables in the model.” When discretionary variables are present in the model in one form or another, we may speak of a “mechanism for adjustment through discretion – conscious or unconscious.” Within the framework of the second generation of currency boards, we reduce the channel of discretion to the presence of atypical balance sheet items and employment of a number of monetary policy instruments. We seek in this article to compare currency board automatic mechanism in Bulgaria, Estonia and Lithuania.L’article procède d’une analyse transversale par pays de la deuxième génération des “bureaux d’émission” introduits dans trois pays de l’Europe de l’Est. L’accent est mis sur les caractéristiques institutionnelles, juridiques et politiques qui sont étroitement associées à l’opération du mécanisme automatique des bureaux d’émission. L’existence d’un mécanisme automatique dans la structure d’un bureau d’émission est souvent mise en avant comme l’argument majeur à l’encontre de la “discrétion” et la “subjectivité” d’une banque centrale classique. Parce qu’il n’existe aucune définition précise du mécanisme automatique dans la littérature, nous la définissons comme “la présence d’une relation positive de cointégration entre la balance des paiements et les réserves monétaires et l’absence de variables discrétionna- ires dans le modèle”. Quand des variables discrétionnaires sont présentes dans le modèle sous une forme ou une autre, nous pouvons parler d’un “mécanisme d’ajustement discrétionnaire – conscient ou inconscient”. Au sein de la structure de la deuxième génération des bureaux d’émission, la discrétion se réduit à la présence de postes atypiques dans le bilan et à l’emploi d’un certain nombre d’instruments de politique monétaire.L’article propose une comparaison du mécanisme automatique en Bulgarie, Estonie et Lithuanie. (shrink)

Local Currencies, Local Exchange Trading Systems, and Time Banks are all part of a new social movement that aims to restrict money's purchasing power within a certain geographic area, or within a certain community. According to their proponents, these restrictions may contribute to building sustainable local economies, supporting local businesses and creating “warmer” social relations. This article inquires whether the overall enthusiasm that surrounds alternative currencies is justified. It argues that the potential benefits of these currencies are not sufficient to (...) justify the restrictions they impose on money's purchasing power. Turning these currencies into effective channels of change, by increasing their scope and their strength, could severely hinder the pursuit of social justice, in a way that is probably not even necessary for achieving their objectives. The paper concludes that large-scale limitations of money's purchasing power are, therefore, undesirable. (shrink)

ABSTRACT The “facts” of international politics constitute the first-order representations of political life and can be reflected in popular entertainment as second-order or fictional representations. This article demonstrates that discourses of popular culture are powerful and implicated in International Relations studies. The article makes two correlated claims: the first is that the humanist and anthropological methodology often used to analyse pop culture could also be used to analyse international issues, if appropriately contextualized; the second claim is that a nation can (...) manifest its ‘discourse’ in international politics via its popular culture, as soft power. (shrink)

My aim in this paper is to show that Plato’s Phaedo makes an important contribution to the development of ideas about the commensuration in value of heterogeneous items that is needed for practical reasoning and rational choice. Because the passage I focus on, the so-called ‘right exchange’ passage at 69a-c, has not usually been read this way, I motivate the reading by showing how it resolves some puzzles local to the Phaedo concerning the stark contrast Socrates develops between the virtues (...) of philosophers and nonphilosophers, ordinary people who do not pursue wisdom single-mindedly, applying to the latter labels like ‘strange’, ‘unreasonable’, ‘illusory’ and ‘slavish’. Socrates says that one should, and suggests that philosophers do, use wisdom as their currency whereas nonphilosophers use pleasure (and perhaps also pains, fears, etc., or bodily conditions in general) as their currency (or currencies). Although it has been generally understood that the basis for this contrast lies in how the two groups evaluate, the details have remained murky. I argue that it’s due to the properties of pleasure (or bodily conditions in general) qua measure of value, in particular pleasure’s context-dependence, that nonphilosophers’ judgements about virtue, e.g. the courage and moderation of particular acts or people, are defective in the ways Socrates says they are. (shrink)

This article examines the grounds for Plato's negative attitude towards trade, commerce and currency in the Laws. The author shows that commerce and trade are condemned because they are fundamentally private, and demonstrates that Plato rejects gold and silver currency because its use encourages a kind of cosmopolitanism. Rather than condemning the competitiveness or licentiousness of the economic sphere, Plato critiques it for turning the citizens' attention away from civic life.

This review of the long-awaited English translation and edition of Pierre Klossowski’s Living Currency starts with a comparison of its historical context and our own in order to consider why this book remains important today. I support this comparison by examining its account of the “moral power” of industrial society to elicit the participation of the very people it exploits in their own exploitation. In short, Klossowski understands that this regime is based upon an affective arrangement that makes us, (...) even those of us who protest against it, into its ever-renewed source. Despite the apparent inescapability of this regime that is us, I suggest that Klossowski’s parodic utopia, in which the body becomes living currency, follows Georges Bataille to offer an ethics of the general economy that might, perhaps, enable us to subvert it and develop new ways of relating to ourselves and others. Careful consideration of the difficulties this translation encounters in a letter Michel Foucault sent to Klossowski, allows me to conclude by questioning how we are to interpret his book and this new edition. (shrink)

This paper discusses global reserve currencies from the perspective of structural global justice. Drawing on notions of structural justice and background justice, it suggests that the structures of global finance, by creating positions of privilege and disadvantage, can lead to injustices both with regard to distributive outcomes and with regard to domination. While the role of the dollar and Euro as global reserve currencies are not the only factors that contribute to these structural injustices, they need to be taken into (...) account to fully grasp the dynamics of global finance. They also have an impact on other mechanisms, such as sovereign debt, capital flows, and the governance of international financial institutions. The paper’s arguments support the claim that one cannot conceptualize global justice as justice between independent states. Rather, the global monetary regime constitutes a case of “background injustice” (Ronzoni 2009). (shrink)

The main goal of this thesis is to provide a clear basis for the analysis of alternative currencies, such as Bitcoin, LETS, Local currencies, the WIR or Carbon currencies. It attempts to determine whether alternative currencies might constitute just and workable alternatives, either in the form of small-scale experiments or in the form of more radical reforms. The first chapter proposes a new way to classify currencies. The second examines the case in favour of monetary plurality. The third analyses the (...) claims in favour of restricting the use of money locally, within a community, or to certain goods. The fourth studies the link between money and the market. Finally, a post-scriptum focuses on Bitcoin and cryptocurrencies. This thesis highlights that these currencies are drivers of several potential conflicts. Their widespread use might conflict with the adequate management of monetary policy, with social justice, and with liberal values. These conflicts are potential, for they would come into existence only if alternative currencies increased in scope. However, there is no reason to disregard potential conflicts when the case in their favour relies mostly on their potential benefits. (shrink)

G. A. Cohen was one of the most gifted, influential, and progressive voices in contemporary political philosophy. At the time of his death in 2009, he had plans to bring together a number of his most significant papers. This is the first of three volumes to realize those plans. Drawing on three decades of work, it contains previously uncollected articles that have shaped many of the central debates in political philosophy, as well as papers published here for the first time. (...) In these pieces, Cohen asks what egalitarians have most reason to equalize, he considers the relationship between freedom and property, and he reflects upon ideal theory and political practice. Included here are classic essays such as "Equality of What?" and "Capitalism, Freedom, and the Proletariat," along with more recent contributions such as "Fairness and Legitimacy in Justice," "Freedom and Money," and the previously unpublished "How to Do Political Philosophy." On ample display throughout are the clarity, rigor, conviction, and wit for which Cohen was renowned. Together, these essays demonstrate how his work provides a powerful account of liberty and equality to the left of Ronald Dworkin, John Rawls, Amartya Sen, and Isaiah Berlin. (shrink)

There is an enduring tension in thinking about the architecture of systems that select behaviours, including evolved organisms. One line of reasoning supports convergence in control systems and conversion of the values of all options into a common currency, in part because this seems the best or only way of trading off costs and benefits associated with outcomes of varying types. A competing consideration supports parallelism or other forms of fragmentation, because of inefficiencies associated with integration, and suspicion towards (...) general-purpose cognitive systems. In addition, recent neuroscience has given particular attention to the question of how partly independent ‘habit based’ and ‘planning based’ decision-systems might interact. The issues here are, at least in part, a special case of the more general integration versus parallelism tension. This tension provides a useful framework for thinking about the implementation of different kinds of sensitivity to risks of various types, the variety of mechanisms by means of which risk sensitivity might be modulated, and how risk might be traded off against other components of value or disincentive. I describe the tension, briefly survey some of the relevant empirical evidence, and conclude with tentative observations on the topic of risk. (shrink)

In his Tanner Lecture of 1979 called ‘Equality of What?’ Amartya Sen asked what metric egalitarians should use to establish the extent to which their ideal is realized in a given society. What aspect of a person’s condition should count in a fundamental way for egalitarians, and not merely as cause of or evidence of or proxy for what they regard as fundamental?

This research investigates the growing impact of virtual currencies, with a specific focus on how Bitcoin, a leading digital currency, influences gold prices. It delves into the evolving role of Bitcoin in the traditional financial sphere, examining its effect on gold, a classical asset and a benchmark of economic stability. Through this study, we aim to understand the nuances of this unique interaction and its implications for the broader financial landscape. This paper presents an in-depth case study that examines (...) the correlations and potential causal relationships between the volatility in virtual currency markets and gold price fluctuations, a traditional indicator of economic stability and a renowned safe-haven asset, with a particular focus on the period encompassing the COVID-19 pandemic. Using a range of econometric methods, including time-series analysis and the Autoregressive Integrated Moving Average (ARIMA) model, this research analyzes historical price data from the past decade, with a special emphasis on the impact of the COVID-19 pandemic alongside other key geopolitical events and macroeconomic factors, to elucidate the interplay between these distinct asset classes. (shrink)

RESUMO Este artigo apresenta a noção de valor aplicado à análise da moeda, elaborada por Nicole Oresme, em 1355, e Nicolau Copérnico, em 1526. Mostramos que, para os autores, o valor da moeda deve ser estável e determinado pela comunidade em atividades de compra e venda. Também mostramos como esses autores opõem-se à instabilidade do valor, especialmente a desvalorização promovida pelo governante. Argumentamos que ambos os autores criam sistemas de medição e controle do valor da moeda em tempos de turbulência (...) monetária. De acordo com Oresme e Copérnico, a instabilidade no valor da moeda não só mantém o comércio distante, em outros reinos ou repúblicas, mas também revela a má conduta do príncipe, aquele que é investido de autoridade política e monetária nas sociedades europeias dos séculos XIV e XVI. ABSTRACT This paper presents the notion of value applied to the analysis of currency, elaborated by Nicole Oresme, in 1355, and Nicolas Copernicus, in 1526. It shows that, to these authors, currency value must be stable and determined by the community engaged in activites of buying and selling. It also shows how they are opposed to instability of value, especially to its devaluation promoted by the government. It argues that both authors create systems for measuring and controlling of currency value in times of monetary turmoil. According to Oresme and Copernicus, instability of currency value not only keeps commerce faraway, in other kingdoms or republics, but also reveals the misconduct of the prince, the one who is invested with political and monetary authority in European societies of the fourteenth and sixteenth centuries. (shrink)

This article is the result of many years of research on the issuance of paper currency by the Central Workers' Cooperative "Gornyak" in Baku. For the first time, based on relevant literature and factual material (including unique, full-color illustrations of currency notes), the article provides information on the history, classification, cataloging, and complete nominal range of currency notes issued by this cooperative during 1924- 1925. Through the study of the material presented in the article, various types of (...) additional seals and stamps used in the circulation and implementation of currency during this period have been identified. These findings have helped clarify more accurate information about the notaphily of Azerbaijan. The authors hope that their work will encourage further study and research into this interesting issuance by notaphilists and will fill the gap in this field. (shrink)

The idea of a common currency underlying our choice behaviour has played an important role in sciences of behaviour, from neurobiology to psychology and economics. However, while it has been mainly investigated in terms of values, with a common scale on which goods would be evaluated and compared, the question of a common scale for subjective probabilities and confidence in particular has received only little empirical investigation so far. The present study extends previous work addressing this question, by showing (...) that confidence can be compared across visual and auditory decisions, with the same precision as for the comparison of two trials within the same task. We discuss the possibility that confidence could serve as a common currency when describing our choices to ourselves and to others. others. (shrink)

According to telic egalitarianism, it is, in one respect, noninstrumentally bad if some people are unfairly worse off than others. This paper is about two ambiguities in telic egalitarianism. The first ambiguity concerns the so-called temporal unit of egalitarian concern. This is the question of whether inequality during whole lives, inequality during certain segments of lives, or some combination of these, is what generates egalitarian concern. The second ambiguity concerns the so-called currency of welfarist egalitarian concern. In the present (...) context, this is the question of whether inequality in overall welfare, inequality in some of the constituents of welfare, or some combination of these, is what generates egalitarian concern. In this paper I argue that the debates about how these two ambiguities are to be resolved are not unrelated. The same reasons that, according to some telic egalitarians, support rejecting the whole-lives-only view about the temporal unit of egalitarian concern support rejecting the overall-welfare-only view about the currency of welfarist egalitarian concern. (shrink)

Les marchés financiers émergents présentent de fortes perturbations : bulles, crises, comportements mimétiques, évolutions inattendues. Or une condition nécessaire d'un développement économique harmonieux est une politique monétaire raisonnable, qui ne déstabilise pas le taux de change par une distribution erratique de crédit. Les régimes de changes flexibles sont imparfaits car ils laissent la possibilité aux gouvernements de pratiquer l'inflation, et les régimes de change fixes ajustables...

The amazing rise of digital currency is not only favored by investors but also attractive to lawbreakers for its anonymity and decentralization. This paper mainly discusses the intelligent digital currency and dynamic coding service system based on Internet of Things technology. In this paper, the RDCAR algorithm is used to realize the routing discovery process of the wireless network. When the intermediate node receives the RREQ message, first of all, to avoid the loop, it checks whether the same (...) RREQ message has been introduced. If it has received it, it will discard it. Otherwise, it will cache the message and attach its own neighbor node list to the signal-to-noise ratio of the channel link, update the RREQ message, and broadcast it. The payment cipher is managed by the bank. When the user opens an account, the bank registers and sends it to the user. The key is generated by the algorithm chip, and the public key is kept in the bank background server. When the bill is delivered to the bank, the bank inputs all the elements on the bill on the counter terminal and transmits it to the verification machine for verification through the bank network. If the verification is correct, it indicates that the bill is indeed issued by the customer, and all bill elements are correct, and payment can be made. The node operation protocol of public chain and alliance chain maintains the operation of the Internet of Things system. The nodes of alliance chain generate new blocks according to the interval of 30 s. When the node fails to complete the block generation within 30 s, it will rotate to the next node. The mkfile command is used to generate 16b, 1 KB, 1 MB, and 1 GB files as input. The peak speed of the encoding service system is about 370 mb/s. The results show that the system designed in this study is robust and suitable for complex trading environment. (shrink)

This article argues that, of the leading Continental feminist theorists who have expressed an interest in women's mysticism, most have inadvertently or otherwise taken up the theoretical model of William James, the early-twentieth-century scholar of religion. In particular, Simone de Beauvoir and Luce Irigaray have accepted the view that mysticism operates on an epistemological plane divorced from the categories of rationality and intelligibility. Both thinkers hold that the mystic is typically hysterical, although Irigaray takes a more positive view of the (...) hysteric as a subject position from which the feminine voice is first heard. Through a brief examination of the mystical and political careers of Hildegard of Bingen, we conclude that the theoretical perspective of Julia Kristeva provides a more useful theoretical perspective from which to analyse women's mystical texts. (shrink)

In a recent spate of reflective writings on the concept of human rights, philosophers have been concerned to firm up the analytical boundaries of human rights discourse, without excluding welfare rights from the catalogue. The article considers three of these recent attempts to `revalue the currency' of human rights: the agency conception, the pluralist conception, and the negative duties conception. It ultimately defends a `dignity-based' account of human rights, in which any number of human interests and values may ground (...) a right, but in which the failure to respect the right must constitute a threat to human dignity (one's sense of self-worth as a person) in order for it to count as a genuine human right. It further argues that a `dignity-based' account of human rights justifies a focus on the state as the agent against which human rights are held, and gives us reason to doubt that the state could adequately fulfil the human-rights-based duties it owes its citizens by simple forbearance. On the account offered here, the state may be said to violate the rights of its members, and to threaten their human dignity, when it fails to provide them with the means to realize their basic needs. Key Words: human dignity • civil and political rights • welfare rights • social rights. (shrink)

Whereas most commentators agree about the centrality of narratives in decision-making, the commentaries revealed little consensus about the nature of radical uncertainty. Here we consider thirteen objections to our views, including our characterization of the uncertain decision environment and associated cognitive, affective, and social processes. We conclude that under radical uncertainty, narratives rather than probabilities are the currency of thought.

Due to COVID-19, the fragile economy, travel restrictions, and generalized anxieties, the concept of antibodies as a “declaration of immunity” or “passport” is sweeping the world. Numerous scientific and ethical issues confound the concept of an antibody passport; nonetheless, antibodies can be seen as a potential currency to allow movement of people and resuscitation of global economics. Just as financial currency can be forged, so too is the potential for fraudulent antibody passports. This paper explores matters of science, (...) ethics, and identity theft, as well as the problems of bias and discrimination that could promulgate a world of pandemic “golden passports.”. (shrink)

Some theories of justice hold that individuals placed in fortunate circumstances through no merit or choice of their own are morally obligated to aid individuals placed in unfortunate circumstances through no fault or choice of their own. In these theories what are usually regarded as obligations of benevolence are reinterpreted as strict obligations of justice. A closely related view is that the institutions of a society should be arranged in a way that gives priority to helping people placed in unfortunate (...) circumstances through no fault or choice of their own. Any theory of this type needs a way of assessing individuals’ circumstances to determine who is fortunate and who is unfortunate. (shrink)

Scharding argues that Bitcoin is unethical on Fichte’s view because its instability makes it unable to guarantee that users can afford what they need to live. She contrasts Bitcoin with currencies controlled by central authorities that can guarantee their stability. Allison objects that not all centrally controlled currencies are stable and not all non-centrally controlled currencies are unstable. I clarify that both stability and a means of securing stability are necessary, but not sufficient, for a currency to be ethical.

This paper draws upon research on a complementary currency to explore the ethical dimensions of that community economic development work. In doing so, the paper argues that the figure of the stranger is increasingly important to understand in theorizing community, especially given increased attention to the discourse of the stranger in theories of ethics and identity in a globalizing world. As such, the paper lays out three modes of the strange—economic, geographic and ethical—which emerge out of this complementary (...) class='Hi'>currency project. In identifying these three modes of being strange, the paper validates ways of articulating strangers and strangeness without essentializing the strange, ignoring the power relations that produce strangers, or pushing aside the strange in favor of blas communion. (shrink)

Concepts of sustainability guide policy and environmental management decisions. But when goals are articulated badly, they provide poor decision guides, and may lead to serious mistakes. This paper reviews and critically evaluates a series of popular conceptions of ‘sustainability,’ with special focus on a conception advocated by Bryan Norton. While no conception of sustainability is problem-free, we gain by understanding the limitations of each. Adaptive management, as I understand it here, is not a conception of sustainability, but a view about (...) how conceptions of sustainability might be used in practical reasoning about policy or management. (shrink)

In the context of digital monetary market integration, the importance of cross-border digital currency research is receiving prominent attention. This study integrated Extended Unified Theory of Acceptance and Use of Technology (UTAUT2) and initial trust factors (ITM) into an integrative framework, which synthetically complemented the objective measures and subjective insights of digital currencies. The results indicated the integrated framework, which verified its robustness predicting the acceptance and recommendation intention of digital currency. By analyzing the two different features of (...) digital currencies, this research puts forward a set of targeted solutions to ensure that users of Chinese and Korean digital currencies make a long-term policy for the sustainability, eventually benefitting the cross-border digital monetary transactions and economic cooperation in Asia, which leads the world to the sustainable development in the digital currencies field. (shrink)

The commons is a concept increasingly used with the promise of creating new collective wealth. In the aftermath of the economic and financial crises, finance and money have been criticized and redesigned to serve the collective interest. In this article, we analyze three types of complementary currency systems: community currencies, inter-enterprise currencies, and cryptocurrencies. We investigate whether these systems can be considered as commons. To address this question, we use two main theoretical frameworks that are usually separate: the “new (...) commons” in organization studies and the “common good” in business ethics. Our findings show that these monetary systems and organizations may be considered as commons under the “common good” framework since they promote the common interest by creating new communities. Nevertheless, according to the “new commons” framework, only systems relying on collective action and self-management can be said to form commons. This allows us to suggest two new categories of commons: the “social commons,” which fit into both the “new commons” and the “common good” frameworks, and the “commercial commons,” which fit the “common good” but not the “new commons” framework. This research advances a new conceptualization of the commons and of the ethical implications of CCs. (shrink)

An impressive variety of new forms of money has aroused in recent decades from various groups of people and various kinds of institutions. These currencies are at the heart of intense debates, which raise important, but often neglected, normative issues. The diversity of their goals, uses and charac-teristics is so large that it makes some preliminary distinctions necessary. This paper aims at provid-ing a proper background for the discussion of the possible merits and drawbacks of different kinds of currencies. It (...) proposes a classification that demarcates currencies according to how they relate to several crucial normative issues. Its aim is to show, for every type of currency, and as unambiguously as possible, to which side of these controversies it lies. (shrink)

Human needs play a crucial role in the moral evaluation of distributions of goods and services. This role is attested by the rhetorical effectiveness of appeals to needs. But what moral currency do these appeals to needs. But what moral currency do these appeals have? Which needs are morally most important? ;I argue that our morally most important needs are what we require or find indispensable in order to avoid harm as damage, or as the impairment of our (...) fundamental capabilities. To illustrate their moral importance, I show that these needs are more important than are competing wants or desires. To this end, I offer a novel defense of the intuitively plausible view that universal moral claims to assistance in meeting needs have a presumptive precedence over competing claims to assistance in satisfying wants or desires. These needs have a presumptive precedence over competing wants largely because one person's reasons to meet these needs are presumptively stronger than another person's reasons to satisfy competing wants. ;Instead of considering the full moral importance of what we need in order to avoid harm as damage--an evaluation that requires studying the role played by these needs in other fundamental distributive principles, such as property rights--I turn to consider two challenges to this principle of precedence to needs in assistance. Is this principle not too demanding in requiring that one help others meet their needs before allowing one to help others satisfy competing wants and desires? Is this principle not too demanding in requiring one to help others meet their needs beyond what it would be fair for one to do? ;Although the first challenge is intuitively appealing, I reject it because the suggestions made about where to draw the limits to moral requirements of assistance on grounds of costs or burdensomeness are unsatisfactory. In order to evaluate the second challenge, I propose that we understand fair shares of a collective obligation of assistance as equally burdensome shares. I then argue we have little reason to think we are morally required to do only what it is fair for us to do in this sense. (shrink)