David Schmidtz

The Theory of Market Failure explores how markets respond, both in theory and in practice, to public‐goods and externality problems. Most of the articles in this anthology find that markets often meet the demand for public goods in a variety of cases where existing theory would lead one to expect market failure. Moreover, upon reflection, existing theory reveals itself to be in need of supplementation by a more realistic picture of how flexible markets (and evolving systems of property rights) respond to the demand for public goods and for the means of internalizing externalities.

This is an introductory volume to Robert Nozick, one of the dominant philosophical thinkers of the current age. It is part of a new series, Contemporary Philosophy in Focus. Each volume in the series will consist of newly commissioned essays that will cover all the major contributions of a preeminent philosopher in a systematic and accessible manner. Robert Nozick is one of the most creative and individual philosophical voices of the last 25 years. His most famous book, Anarchy, State and Utopia (1974), presents the classic defense of the libertarian view that only a minimal state is just. Nozick has also made significant contributions in later publications to such areas as rational choice theory, ethics, epistemology and philosophy of mind. Outside philosophy the book will be of particular interest to professionals and students in political science, law, economics, sociology and psychology.

According to conservationism, scarce and precious resources should be conserved and used wisely. According to preservation ethics, we should not think of wilderness as merely a resource. Wilderness commands reverence in a way mere resources do not. Each philosophy, I argue, can fail by its own lights, because trying to put the principles of conservationism or preservationism into institutional practice can have results that are the opposite of what the respective philosophies tell us we ought to be trying to achieve. For example, if the wisest use of South American rainforests is no use at all, then in that case conservationism by its own lights defers to preservationism. Analogously, if, when deprived of the option of preserving elephants as a resource, Africans respond by not preserving elephants at all, then in that case preservationism by its own lights defers to conservationism

Reasonable people disagree about what is just. Why? This itself is an item over which reasonable people disagree. Our analyses of justice (like our analyses of knowledge, free will, meaning, etc.) all have counterexamples. Why? In part, the problem lies in the nature of theorizing itself. A truism in philosophy of science: for any set of data, an infinite number of theories will fit the facts. So, even if we agree on particular cases, we still, in all likelihood, disagree on how to pull those judgments together to form a theory. Theorizing per se does not produce consensus. Why not? An argument is sound or not. So why isn’t a theory compelling to all of us, if sound, or none of us, if not?

Sometimes people act contrary to environmentalist values because they reject those values. This is one kind of conflict: conflict in values. There is another kind of conflict in which people act contrary to environmentalist values even though they embrace those values: because they cannot afford to act in accordance with them. Conflict in priorities occurs not because people’s values are in conflict, but rather because people’s immediate needs are in conflict. Conflict in priorities is not only an environmental conflict, but also often an economic conflict—a conflict rooted in differing economic circumstance. Such a conflict cannot be resolved as an environmental conflict unless it is also resolved as an economic one.

This volume collects thirteen of David Schmidtz's essays on the question of what it takes to live a good life, given that we live in a social and natural world. Part One defends a non-maximizing conception of rational choice, explains how even ultimate goals can be rationally chosen, defends the rationality of concern and regard for others (even to the point of being willing to die for a cause), and explains why decision theory is necessarily incomplete as a tool for addressing such issues. Part Two uses the tools of analytic philosophy to explain what we can do to be deserving, what is wrong with the idea that we ought to do as much good as we can, why mutual aid is good, but why the welfare state does not work as a way of institutionalizing mutual aid, and why transferring wealth from those who need it less to those who need it more can be a bad idea even from a utilitarian perspective. Most ambitiously, Part Two offers an overarching, pluralistic moral theory that defines the nature and limits of our obligations to each other and to our individual selves. Part Three discusses the history and economic logic of alternative property institutions, both private and communal, and explains why economic logic is an indispensable tool in the field of environmental conflict resolution. In the final essay, Schmidtz brings the volume full circle by considering the nature and limits of our obligations to nonhuman species, and how the status of nonhuman species ought to enter into our deliberations about what sort of life is worth living

Libertarians often bill their theory as an alternative to both the traditional Left and Right. _The Routledge Handbook of Libertarianism_ helps readers fully examine this alternative, without preaching it to them, exploring the contours of libertarian thinking on justice, institutions, interpersonal ethics, government, and political economy. The 31 chapters--all written specifically for this volume--are organized into five parts. Part I asks, what should libertarianism learn from other theories of justice, and what should defenders of other theories of justice learn from libertarianism? Part II asks, what are some of the deepest problems facing libertarian theories? Part III asks, what is the right way to think about property rights and the market? Part IV asks, how should we think about the state? Finally, part V asks, how well can libertarianism deal with some of the major policy challenges of our day, such as immigration, trade, religion in politics, and paternalism in a free market. Among the _Handbook_’s chapters are those from critics who write about what they believe libertarians get right as well as others from leading libertarian theorists who identify what they think libertarians get wrong. As a whole, the _Handbook_ provides a comprehensive, clear-eyed look at what libertarianism has been and could be, and why it matters.

Is it rational to be moral? How do rationality and morality fit together with being human? These questions are at the heart of David Schmidtz's exploration of the connections between rationality and morality. This inquiry leads into both metaethics and rational choice theory, as Schmidtz develops conceptions of what it is to be moral and what it is to be rational. He defends a fairly expansive conception of rational choice, considering how ends as well as means can be rationally chosen and explaining the role of self-imposed constraints in a rational life plan. His moral theory is dualistic, ranging over social structure as well as personal conduct and building both individual and collective rationality into its rules of recognition for morals. To the "why be moral" question, Schmidtz responds that being moral is rational, but he does not assume we have reasons to be rational. Instead, Schmidtz argues that being moral is rational in a particular way and that beings like us in situations like ours have reasons to be rational in just that way. This approach allows him to identify decisive reasons to be moral; at the same time, it explains why immorality is as prevalent as it is. This book thus offers a set of interesting and realistic conclusions about how morality fits into the lives of humanly rational agents operating in an institutional context like our own.