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ethical individualism (23)

Ethical Individualism
Lets look at the Greek debt crisis from an ethical perspective. We will examine two principles from extremely different sources, one from the insurance industry and another from Muslim Shari’a Law. An Ethical Individualist is not restricted to a fixed set of given ethical principles but is open-minded and,

“sees a certain value in all ethical principles, always asking whether this or that is more important in a particular case.” (POF 9.4)

Greek debt crisis
Greece owes European countries and banks €340 billion borrowed over the past five years. To afford the debt repayments, Greece made huge cuts leaving many impoverished. As Greece lagged on repayments, they were told to make more cuts. Greece refused. The big problem now is that Greek banks are running out of money.

Two principles that could be applied in this case are moral hazard (suffer the consequences) and forgiveness (debt relief).

Principle Of Moral Hazard (suffer the consequences)
Moral Hazard originated as an insurance company principle. It occurs when all the risks shift to one party after a financial transaction has taken place due to the removal of the severe consequences that force the other party to act appropriately. In this case, Greece will lose the incentive to pay back the huge debt if it is granted debt relief.

The thrifty Germans, the biggest opponent of debt relief, insist on more harsh austerity measures, even though that makes it even less likely that Greece can pay its debts. By ignoring the Greeks terrible economic plight along with the disparaging language that is routinely used about Greeks, the Germans seem more interested in inflicting punishment rather than any genuine reform.

Principle Of Forgiveness (debt relief)
To explain the principle of forgiveness I will turn to Islamic financial principles guided by Shari’a Law. Islamic finance must contribute to the development and good of the community. Not surprising, then, the fundamental feature of Islamic finance is socio-economic and distributive justice. Islamic finance principles state clearly that individuals who have trouble repaying their debts should have their obligations made easier for them and not more difficult. It is immoral for a lender to harass or pressure a person who has borrowed money and is unable to repay the loan, if that person has fallen on hard times. Instead, such individuals are deserving of charity.

Do you agree with the finance principles of Shari’a Law or the finance principles of the insurance industry?

sources: Frances Coppola and Dr. Kara Tan Bhala

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"To let our moral substance (our moral ideas) express itself in our life is the moral principle of the human being who regards all other moral principles as subordinate. We may call this point of view Ethical Individualism." POF 9-7

The highest principle of an Ethical Individualist is to express one's moral ideas in life. That is, to take ethical action. We were all grieved over the Israeli bombing of the Gaze Strip in 2014 which killed 1473 civilians, but how many of us did anything about it?

Over 500 children were killed, 3374 injured with 1500 orphaned, twenty-two schools were completely destroyed and 118 schools damaged.

You can be sure that the widespread Israeli campaign of violence to weaken and terrorize the Palestinian people has successfully left the soul of every surviving Palestinian child with deep wounds and traumatizing memories. Even after years have passed, such unresolved trauma can trigger symptoms that profoundly disturb the development of children and adolescents.

We all know that what is being done to the Palestinian children is not right. Thankfully, there are some who are taking direct action. The Friends of Waldorf Education sent a crisis intervention team to Gaza to help the traumatized children.

By providing stabilizing actions on the basis of Waldorf education emergency pedagogy, they are aiding the traumatized Palestinian children by providing ways to process the traumatizing experiences. These emergency pedagogic interventions help prevent potential long-term post-traumatic stress disorders. The Ethical Individualist is an ethical activist.

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Free Download Of Ethical Humanism Quotes

Rudolf Steiner's Philosophy Of Freedom is an Ethical Humanist worldview based on free thinking and expressed in Ethical Individualism. GO HERE FOR FREE DOWNLOAD of over 100 Ethical Humanism quotes from The Philosophy Of Freedom.

Ethical Humanism Quotes From Chapter 10 Philosophy Of Freedom And Monism

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