Re: MD Duty to Oneself Only? Or Others?

From: Mark Steven Heyman (markheyman@infoproconsulting.com)
Date: Fri Sep 30 2005 - 00:18:44 BST

  • Next message: Erin: "Re: MD Duty to Oneself Only? Or Others?"

    Arlo, Wim, and all,

    I think the "50 yard line" problem of wealth accumulation can be
    avoided if we simply agree that wealth accumulation is not inherently
    bad, but is immoral only insofar as it negatively affects the well-
    being of others. The questions then become not how much is too much
    but, rather...

    1) What did you do to "get" it?
    2) What are you doing with it?
    3) What are you willing to do to keep it?

    For example, I bet we'd all agree that becoming wealthy by writing a
    book like ZMM is morally superior to becoming wealthy by
    manufacturing land mines or cigarettes or depriving people of life-
    saving drugs.

    We could probably agree that someone who funnels his wealth back into
    society by working for more progressive taxation policies (and not
    evading taxes), is morally superior to someone who keeps every penny
    in off-shore bank accounts and pays no taxes at all.

    And we should certainly be able to agree that someone who will not
    harm innocents in order to maintain or enhance his wealth is morally
    superior to someone who has no such reservations.

    This seems to me a pragmatic framework for discussion of this issue.
    By analyzing such hypothetical scenarios I think we would, in time,
    be able to draw some general conclusions about the relative morality
    of wealth accumulation under certain circumstances. (I'm not
    suggesting moral absolutes here, Matt, so don't hit me with Rorty
    just yet :-))

    Of course, not all of the scenarios will be so neatly cleaved. But
    that's when the discussions will become most interesting, and most
    revealing. Or so it seems to me.

    Here's one...
    Is someone who cracks a bank vault at night morally beneath S&L
    owners who stole millions from taxpayers during the 1980's? (FYI, the
    few who went to jail received sentences one-fifth that of the average
    bank robber.) How about bankers who have become wealthy by knowingly
    laundering drug money, or by straight-forward embezzlement?

    Best to all,
    Mark Steven Heyman (msh)

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