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EIGHTEENTH ESSAY 2-19-01

Moral Economics - Essays On The Relation of Economic Theory to the Moral
Perspective in POVERTY AND DEVELOPMENT: AN INTER-FAITH PERSPECTIVE.
[www.wfdd.org.uk/]

This is the eighteenth of an occasional series of short essays about how
economic theory interacts with a moral perspective. Readers are invited to
discuss and to re-post widely, but please quote the source.

DIGNITY OF WORK

"...The purpose of work is not only to produce a livelihood and to maintain
society, but also to bring about the personal fulfillment of the worker by
his or her participation in the process of production and distribution,
thereby giving service to the whole community...On the one hand, the right
to work brings with it the right to fair returns on one's labor, which means
either a fair wage or, in some cases, access to markets...On the other hand,
space should be made for fully-recognized voluntary work. The ethos of
service to others does not only mean self-sacrifice but also brings with it
the possibility of self-fulfillment and satisfaction..." [POVERTY AND
DEVELOPMENT: AN INTER-FAITH PERSPECTIVE, para 8.0]

THE COMMODIFICATION OF LABOR

Economic theory treats labor as a market commodity; the objective of an
entrepreneur is to buy labor for a low wage and to sell its products at a
high price. Yet, labor is the only commodity that many poor people possess
that can be turned into cash in a market economy. This combination demeans
people because it provides a rationale for entrepreneurial capitalists to
treat people as objects.

Workers are complex beings with needs, desires and fears that transcend
their working lives. Also, people who work give of themselves and are
entitled to a return for their work, which enables them to live a decent life.

A moral society provides work that allows for a decent material living for
its workers as well as opportunities for other forms of self-expression. A
singular focus on labor as a commodity creates an immoral society in which
people are exploited.
Michael Pierce McKeever, Sr.
Economics Instructor, Vista Community College, Berkeley, CA
URL: www.mkeever.com [Note: no 'c' in mkeever]

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