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Prof. John Kozy – Western Civilization and Classical Economics: The Immorality of Austerity

From Global Research:

Western Civilization and Classical Economics: The Immorality of Austerity

By Prof. John Kozy

URL of this article: http://www.globalresearch.ca/index.php?context=va&aid=22379

When a civilization abandons its morality, no rationalization can be devised to justify its continued existence. It is likely that many reasons can be given for this abandonment in the Western world, although I am convinced that one predominates—the expansion of law. Law once governed various kinds of behavior. It has now encroached upon various kinds of speech and is even being applied to the realm of belief. When someone is accused of having done something wrong, the reply offered usually is something like, “What was done complied with all legal requirements.” But “right” has never been defined as “conforms to law,” because thoughtful people have long noticed that the law itself can be a great crime, and the worst criminals in a culture can be its lawgivers, as the people of Ireland, Portugal, France, Spain, Greece, and Great Britain are now finding out. Americans will soon find it out too.

Numerous critics of classical economists over the past two centuries have argued that it is immoral when judged by any of the recognized moral codes. Major aspects of it clearly violate the Golden Rule. It violates many, perhaps all, of the Ten Commandments. It conflicts with various teachings of Jesus. Aristotle’s Ethics can be used to demonstrate its viciousness. It violates Kant’s Categorical Imperative and Mill’s Utilitarianism. Yet some of its proponents continue to argue that The Wealth of Nations is not inconsistent with moral principles. Clive Cook and Gavin Kennedy recently made such a claim, but what they cite as evidence doesn’t withstand scrutiny.

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