Original scientific paper

https://doi.org/10.52685/cjp.23.67.3

How Does Justice Relate to Economic Welfare? A Case Against Austro-Libertarian Welfare Economics

Igor Wysocki orcid.org/0000-0002-4926-4010 ; Nicolaus Copernicus University, Toruń, Poland
Łukasz Dominiak orcid.org/0000-0001-6192-8468 ; Nicolaus Copernicus University, Toruń, Poland

Abstract

This paper argues—contra some Austro-libertarians—that whether a given exchange is welfare-enhancing or welfare-diminishing does not depend on whether that exchange is just or unjust, respectively. Rather, we suggest that in light of our two thought experiments, Austro-libertarianism has at least a pro tanto reason to conceive of justice and welfare as two logically distinct ideals. This would in turn, most interestingly, predict the possibility of (a) just but welfare-diminishing exchanges and (b) unjust but welfare-enhancing ones. Upon considering possible rejoinders to our points, we suggest that Austro-libertarians abandon a justice-based notion of welfare.

Keywords

Austrian welfare economics; demonstrated preference; libertarianism; justice; voluntariness; free market.

Hrčak ID:

301248

URI

https://hrcak.srce.hr/301248

Publication date:

6.5.2023.

Visits: 777 *