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The Morality of Money: An Exploration in Analytic Philosophy By Adrian Walsh, Tony Lynch

The morality of sex, violence and money is at the centre of much human life. While the first two have been subject to intensive historical and philosophical investigation, the latter has largely been neglected. The authors provide the first comprehensive introduction to the morality of money.

Contents

Preface viii

1 Introduction 1

2 Money, Commerce and Moral Theory 19

3 The Profit-Motive and Morality 65

4 Usury and the Ethics of Interest-Taking 91

5 The Morality of Pricing: Just Prices and Moral Traders 119

6 Money, Commodification and the Corrosion of Value: An

Examination of the Sacred and Intrinsic Value 145

7 Money-Measurement as the Moral Problem 167

8 The Charge of ‘Economic Moralism’: Might the Invisible

Hand Eliminate the Need for a Morality of Money? 188

Epilogue 206

Notes 208

Bibliography 237

Index 248

vii

Preface

This project began five years ago, when we came to the realisation that

money itself had not been subject to the kind of critical philosophical

examination that many other social phenomena have enjoyed. It was

written primarily in an old shed on the outskirts of the village of Uralla

with one of us (alternatively) at the keyboard and the other pacing up

and down. The tone of the book reflects in many ways the environment

in which it was written.

We would like to thank our respective colleagues in the Philosophy

Discipline at the University of New England and at the Centre for

Applied Philosophy and Public Ethics at the University of Melbourne

for encouragement and support. We are especially grateful to Peter

Forrest, Anthony Fisher, Rutger Claasen, Constant Mews, Matthew

Maxwell and Graham Maddox for their helpful comments on the earlier

versions of the manuscript. Any mistakes or infelicities are, of course,

entirely of our own making. We are grateful to Philosophy and the

Australasian Journal of Philosophy for allowing us to make use of material

which was previously published in their issues. We would also like

to thank the editorial staff at Palgrave Macmillan, in particular Dan

Bunyard,Melanie Blair and Priyanka Pathak, for their assistance in bringing

the project to realisation. Finally, we would like to thank our families

and partners for their understanding and patience whilst we have been

engaged in this work.

Adrian Walsh and Tony Lynch

Uralla

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