A Pragmatist Response to the Current Economic Turmoil

The following is based on a piece entitled “Morals and Markets” which will likely be published sometime in 2009 in the Journal of Speculative Philosophy.  I was asked by editors of the journal to conclude this piece with some reflections on the practical upshot of my discussion.  I took their useful advice of considering the current economic turmoil in light of my Dewey and Hayek inspired account of reconsidering the relations between morals and markets.  What follows, then, is drawn from the final pages of that piece.  The whole thing, in a previous iteration, is availble here: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1226437.  There is still time for small revisions to this part of the paper so I appreciate any comments readers may have.

The thought with which the discussion excerpted here begins is the following:  Market-based opportunities for ethical innovation have been consistently ignored throughout the history of liberal democratic political theory and they are only just  now being taken seriously in contemporary liberal democratic practice.  Now is an ideal time for taking these opportunities seriously. The paper continues as follows (with slight modifications):

Sunstein’s “Republic.com 2.0”

So I just finished Sunstein’s revision of Republic.com this evening, published by Princeton UP last year as Republic.com 2.0.  I’m happy that someone as intelligent, engaged, and interesting as Sunstein is turning his attention to internet practices and their affects on democratic practices.  This is an important topic and too-much neglected by political theorists and political philosophers.  So Sunstein’s book deserves reading if for that reason alone.  Despite all the praise I might want to lavish on the book, however, there is also a good deal of criticism I would want to heap on it.  I will focus just on the criticisms for now.