The HSBC Moral Hazard Paradox

Recently HSBC, the British bank, was found by the Department of Homeland Security to have laundered vast amounts of money for drug cartels, terrorist organisations, and rogue states. One would expect a steep penalty for aiding and  abetting such malevolent organisations. Consider Salim Hamdan, a man whose sole crime was to drive Osama bin Laden around for $200 a month, yet nonetheless ended up in prison from 2001 to 2009 and was subjected to “coercive interrogation” and “sexual humiliation”, whatever that means. Given the billions of dollars HSBC laundered for these kinds of groups, what Hamdan got should be a picnic in comparison, right? Well it turns out, not so right, as the Justice Department decided not to prosecute.

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Does Might Still Make Right?

Often historical figures are accused of having a “might makes right” attitude. The idea being that the one with superior military might is the one who is morally right. The Romans used the line “vae victus”, or “woe to the vanquished”. In moral philosophy, this is usually deemed a fallacy. Just because one is the stronger does not necessarily mean that one has ethical truth on one’s side. The strong have, throughout history, done many terrible things. However, I have begun to see a modern form of the same argument used in today’s society, and this I find very troubling.

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When is Civil Disobedience Ethical?

When civil disobedience comes up, we often think of Gandhi, King, Mandela, men who are heroes to many and who fought great injustices. However, it must be recognised that civil disobedience is a tool and not an end in itself–it can be used for bad as well as good. So how does one determine when it is ethically permissible to use civil disobedience? It is a question the answers to which I frequently find unsatisfactory, so today I will attempt to unpack it myself.

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Groupthink: How Democracy Maintains Evil and Injustice

This morning an entirely new line of attack on democracy occurred to me, and I feel an intense pressure to share it with all my readers. In the past, I have argued that democracy has a tendency to result in the political preferences of the median voter being realised. There is, however, a related implication that did not occur to me at the time of writing and which has such spectacular implications so as to deserve a post unto itself for explication.

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Universal Basic Income: Free Money

Today I had a lecture that introduced an interesting idea, one I think worth sharing and discussing–universal basic income (hereafter referred to as UBI). UBI is a radical alternative to the present welfare system existent in most western countries. In most societies, welfare is conditional on a demonstration of effort to gain employment–it has a work requirement. UBI proposes that the work requirement be scrapped and that welfare be provided to all citizens irrespective of need so that everyone has a sufficient standard of living such that employment becomes a life choice rather than a life requirement.

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