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The possibility of exchange

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  • AJ Julius

Abstract

I first characterize a moral mistake in coercion. The principle of independence with which I criticize coercion seems also to condemn exchange. I propose an account of exchange from which it follows that exchange upholds independence after all. In support of that account I argue that, of the accounts of exchange that occur to me, only this one has the consequence that, on general assumptions, a person can take part in exchange while acting, intending, and believing with sufficient reason. I argue that the hiring of very poor people by very rich people for labor from which the rich draw a substantial surplus does not give rise to an exchange of this kind. These instances of the wage labor relation resemble coercion insofar as they violate independence.

Suggested Citation

  • AJ Julius, 2013. "The possibility of exchange," Politics, Philosophy & Economics, , vol. 12(4), pages 361-374, November.
    • Handle: RePEc:sae:pophec:v:12:y:2013:i:4:p:361-374
    DOI: 10.1177/1470594X13496068
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