Free Market Fairness

Acknowledgments ix Introduction xi Chapter 1: Classical Liberalism 1 Property and Equality 1 Market Society 6 America 11 Hayek 16 Classical Liberalism 22 Chapter 2: High Liberalism 27 Property or Equality 27 The Decline of Economic Liberty 32 Rawls 37 The Libertarian Moment 46 Liberalismus Sapiens Sapiens 51 Chapter 3: Thinking the Unthinkable 57 The Great Fact: Economic Growth 57 Populism, Probability, and Political Philosophy 60 Economic Liberty and Democratic Legitimacy 68 Endings, and Beginnings, Too 84 Chapter 4: Market Democracy 87 The Conceptual Space 87 Breaking Ice 99 Market Democracy as a Research Program 103 Institutions 106 The Challenges to Market Democracy 118 Chapter 5: Social Justicitis 123 The Distributional Adequacy Condition 123 Hit Parade: Property and the Poor 127 Hayek's Critique 142 Benadryl for Free-Marketeers 151 Chapter 6: Two Concepts of Fairness 162 Warming up to Market Democracy 162 Applying the Theory 172 The Argument Ipse Dixit 177 Justice as Fairness: Status or Agency? 180 Chapter 7: Feasibility, Normativity, and Institutional Guarantees 197 The Twilight of Left Liberalism? 197 Realistic Utopianism 203 Aims and Guarantees 215 Chapter 8: Free Market Fairness 226 The Difference Principle 226 Fair Equality of Opportunity 237 Political Liberty 247 Generational, Environmental, and International Justice 254 Free Market Fairness as a Moral Ideal 264 Conclusion 267 Notes 273 Bibliography 315 Index 333

John Tomasi is professor of political science at Brown University, where he is also the founder and director of Brown's Political Theory Project. Tomasi holds degrees in political philosophy from the University of Oxford and the University of Arizona. He has held visiting fellowships and positions at Princeton, Harvard, and Stanford universities, and at the Freedom Center at the University of Arizona. He is the author of Liberalism Beyond Justice (Princeton).

[Free Market Fairness's] aim is to question opposed modes of thought and find a way between them. Saying that his book was written for 'ideologically uncommitted readers,' Mr. Tomasi invites them and others to join him in exploring the ideas he has outlined. It is an invitation well worth accepting, especially in an election year. -- Adam Wolfson Wall Street Journal An extremely interesting and important project. Ethics [I]mportant ... -- Andrew Koppelman Notre Dame Philosophical Reviews Tomasi is a useful corrective to both Rawls and Hayek. Notre Dame Philosophical Reviews In many respects, [Tomasi] is a classical liberal, but he also retains a strong commitment to the worst off in society. He is a supporter of both free-market capitalism and of safety nets. His goal is to combine economic liberty and social justice. In attempting to transcend the standard positions, he should be commended. -- Daniel Ben-Ami Spiked Review of Books Brilliant... The heart of Tomasi's book entails serious engagement with John Rawls and his liberal theory of justice as fairness. -- Ryan T. Anderson Weekly Standard Tomasi takes a significant step beyond classical and some types of social democratic liberalism in an attempt to find common ground... Tomasi's 'market democracy' contributes important insight to the continuing political-economic debate. Choice One could hardly imagine John Tomasi's Free Market Fairness coming along at a more opportune time. Stump-speech rhetoric seems to have turned its attention (at least nominally) towards the concept of fairness... The proper role of government is up for debate again... Tomasi offers a clear-headed exploration of these and other issues during a moment of noticeable obtuseness and obfuscation in American politics [as] an accident of timing, incidental to his larger project, which is both ambitious and deeply needed. -- Robert Herritt Policy Review Free Market Fairness is both an excellent book and an important one. What makes a work of