Competition, consumerism, and the "Other". A philosophical investigation into the ethics of economic competition

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Competition, consumerism, and the "Other". A philosophical investigation into the ethics of economic competition

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Arnsperger, Christian (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES); UniversitŽ catholique de Louvain, Chaire Hoover; Belgian National Fund for Scientific Research (FNRS))

Abstract

This paper presents a philosophical discussion of the ethical foundations of economic competition, based in large part on Emmanuel Levinas's theory of exteriority and of responsibility for the "Other". The claim is that competition, notwithstanding its positive effects in terms of efficiency and innovativeness, ontologically neglects the "other-ness" of individuals. The fundamental factor in the neglect is the "consumerist" orientation of competitive capitalism through which even small price differences can cause large shifts in demand, so that many firms are choicelessly dependant on competitors' behavior. This analysis based on Levinas significantly deepens Frank Knight's seventy year-old ethical critique of competition.

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Paper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) with number 1996014.

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Length: 24
Date of creation: 01 May 1996
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Handle: RePEc:ctl:louvir:1996014

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Find related papers by JEL classification:
B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
D40 - Microeconomics - - Market Structure and Pricing - - - General
D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement

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Knight, Frank H., 1923. "The Ethics of Competition," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 37, pages 579-624, August. [Downloadable!]
Harsanyi, John C., 1992. "Game and decision theoretic models in ethics," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 1, chapter 19, pages 669-707 Elsevier. [Downloadable!] (restricted)
Joseph E. Stiglitz, 1996. "Whither Socialism?," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262691825.

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