21654 Lecture Notes - Lecture 3: Timocracy, Magnanimity, The Infamous
Values: Virtue and Pragmatism
Normative: Philosophical What is aught to be
Socratic Plato’s Republic idealised aristocracy (government ruled by philosophers), seconded by
timocracy (rule by warrior class), followed by oligarchy (rule by wealthy merchants, unsustainable
as it widens the gap between wealthy and poor, resulting in revolt), and lastly democracy and
tyranny
Early church attitudes towards merchants and trade was hostile
Later Church attitudes softened their view on economic prosperity, with an emphasis disposing the
excessive accumulation of wealthy. Charging interest for a loan was regarded as sinful, except for
Jewish people who were relied upon for finance. Eventually money-lending was outlawed, again
except for the jews, creating a bias against the jewish people and a tight stigma
Enlightenment lead to a shifting school of thought regarding the ethicality of the pursuit of
prosperity, particularly the ‘sinfulness’ of pride, vanity and luxury. The infamous publication Private
Vices, Public Benefits outlined the benefits received by society occurring as a result of individual
strife for wealthy. Adam Smith and other economists describe the societal rewards of self-interest,
more so even than government or charity
Karl Marx describes the exploitation of the worker facilitated through capitalism, as wealth was
largely concentrated in the hands of few capitalists
Descriptive: Empirical What it is
Sphere
Excess
Mean
Deficiency
Fear and Confidence
Rashness
Courage
Cowardice
Pleasure and Pain
Self-Indulgence
Temperance
Insensibility
Getting and Spending
Prodiglaity
Liberty
Meanness
Getting and Spending
Tastelessness
Magnificence
Pettiness
Honour and Dishonour
Vanity
Magnanimity
Pusillanimity
Honour and Dishonour
Ambition
Pride
Uambitiousness
Anger
Irascibility
Patience
Lack of Spirit
Self-Expression
Boastfulness
Truthfulness
Understatement
Conversation
Buffoonery
Wittiness
Boorishness
Social Conduct
Obsequiousness
Friendliness
Cantankerousness
Shame
Shyness
Modesty
Shamelessness
Indignation
Envy
Righteous Indignation
Spitefulness
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Document Summary
Early church attitudes towards merchants and trade was hostile. Later church attitudes softened their view on economic prosperity, with an emphasis disposing the excessive accumulation of wealthy. Charging interest for a loan was regarded as sinful, except for. Jewish people who were relied upon for nance. Eventually money-lending was outlawed, again except for the jews, creating a bias against the jewish people and a tight stigma. Enlightenment lead to a shifting school of thought regarding the ethicality of the pursuit of prosperity, particularly the sinfulness" of pride, vanity and luxury. Vices, public bene ts outlined the bene ts received by society occurring as a result of individual strife for wealthy. Adam smith and other economists describe the societal rewards of self-interest, more so even than government or charity. Karl marx describes the exploitation of the worker facilitated through capitalism, as wealth was largely concentrated in the hands of few capitalists.
