Panch and Lefty Talk it Out on CT

Let's take the heat off that other post for a moment, shall we?

On CT, this is what is happening:

Pancho: So what does political philosophy have to say about the banking crisis?

Lefty: Excuse me?

Pancho: Well, millions ruined, pensions and savings binned, an appeal to taxpayers to save the banks? It all seems rather, um, well distributive… I’d have thought you could give us some policy advice?

Lefty: Well I don’t really do that kind of thing, I do ideal theory.

Pancho: What’s that when it’s at home?

Lefty: I’m mainly concerned with devising optimal principles of social regulation under conditions of strict compliance, this is far too messy for me …

Pancho: Go on, have a go!

Lefty: OK well, since you insist …. Luck egalitarianism might be a good starting point.

Pancho: What’s that then?

Lefty: Luck egalitarianism is, roughly, that differences in how people fare should be consequences of their choices rather than their unchosen circumstances. People who get dealt brute bad luck have a claim not suffer on that account; whereas people who knowingly take risky gambles had better live with the consequences, whatever they turn out to be.

Pancho: Those bankers are screwed then! (And lots of other people too.)

And that's just the beginning.

Update: And since Falsie is giving me so much linklove, I feel I ought to return some of it. Go read Witch Hunt.