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	<title>Monitor Data &#187; economy</title>
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		<title>Wall Street on the mend?</title>
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		<pubDate>Sat, 11 Jul 2009 10:01:58 +0000</pubDate>
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				<category><![CDATA[business]]></category>
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		<description><![CDATA[Wall street seems to be on the mend because we have no reason to doubt the accuracy of the figures we are given. But there is a hollow to this economic rebound at the seat of capitalism. More Americans, we are informed, continue to lose their homes to mortgage foreclosures, and doors to employment remain [...]]]></description>
			<content:encoded><![CDATA[<p>Wall street seems to be on the mend because we have no reason to doubt the accuracy of the figures we are given. But there is a hollow to this economic rebound at the seat of capitalism. More Americans, we are informed, continue to lose their homes to mortgage foreclosures, and doors to employment remain slummed shut against the growing cue of the unemployed. This, after millions, billions even taxpayer&#8217;s money has gone into the rescue of corporate giants. So, is it back to the executive jets, to sprawling displays of shameless opulence in the posh neighborhoods of the filthy rich while the aged watch their life-savings vanish and their homes put up for sale? It seems so unfair! So, I take up once more the whole idea of &#8220;social justice&#8221;.</p>
<p>In the first place, why should society be fair? Has it not been the creed of societies that swear by capitalism that in the contest for prosperity, some will flourish, while some will be left bleeding by the wayside, there to waste away and perish? Every argument for fairness will be question-begging. That we must be fair cannot be proven, not because it is some gratuitous assumption that can be as gratuitously denied, but because it is self-evident. Fairness is a demand of reasonableness, and we are supposed to be reasonable! Attempting to establish ethics on a cognitivist base-and so avoid the pitfalls of making &#8220;right&#8221; depend on &#8220;what feels right&#8221;-Thomas Aquinas taught that the so-called &#8220;first principles&#8221; of practical reason from which we infer what should be avoided are as self-evident as are the principles of non-contradiction and identity-the first principles of &#8220;speculative reason&#8221;.</p>
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