On Sunday’s episode of Philosophy in Action Radio, Greg Perkins and I answered questions on fractional reserve banking, fraud, and deception, people unworthy of the truth, deception in a business partner, and more. The podcast of that episode is now available for streaming or downloading.

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Whole Podcast: 8 March 2015

Listen or Download:

• Duration: 58:29
• Download: Enhanced M4A File (21.0 MB)
• Download: Standard MP3 File (20.1 MB)

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Podcast Segments: 8 March 2015

You can download or listen to my answers to individual questions from this episode below.

Introduction

My News of the Week: I’m wrapping up my time in Aiken and preparing for SnowCon 2015.

Question 1: Fractional Reserve Banking, Fraud, and Deception

Question: Does fraud require deliberate deception? Some libertarians, most notably Walter Block, have tried to argue that fraud does not require deliberate deception. For example, argues Block, if I tried to sell you a square circle, and I believed that square circles existed, and so did you, and you agreed to the transaction, then, since square circles do not actually exist, this would still count as fraud, even though no deliberate deception has taken place. Block has used this argument to indict fractional reserve banking, by arguing that it still counts as fraud even though all parties are knowingly consenting. Is he talking rationalist nonsense?

My Answer, In Brief: The libertarian arguments about fractional reserve banking as inherently fraudulent are wrong and silly. False beliefs do not render transactions fraudulent: some kind of intentional or negligent deception is required.

Listen or Download:

• Start Time: 2:48
• Duration: 21:50
• Download: MP3 Segment
• Tags: Business, Deception, Finance, Fraud, Government, Honesty, Law, Rights

Links:

• Fractional-Reserve Banking is Not Fraud by Wendy McElroy
• NoodleFood: Fractional Reserve Banking: Fraud or Not?
• On Fraud and Negligent Fraud

To comment on this question or my answer, visit its comment thread.

Question 2: People Unworthy of the Truth

Question: Are some people unworthy of the truth? “Never tell the truth to people who are not worthy of it,” said Mark Twain in his Notebooks. Is that true? Does that justify lying or withholding information?

My Answer, In Brief: A decent person deals with other people squarely, whether by communicating honestly with them or keeping away. Attempting to justify deception on the grounds that others are unworthy destroys your character and makes you “unworthy” by your own standards.

Listen or Download:

• Start Time: 24:38
• Duration: 14:20
• Download: MP3 Segment
• Tags: Character, Communication, Deception, Ethics, Honesty, Independence, Justice, Moral Judgment, Relationships

To comment on this question or my answer, visit its comment thread.

Question 3: Deception in a Business Partner

Question: How can I decide whether a business associate has crossed the line? I am part of a very specialized marketing co-op group. Businesses provide samples to the marketer, who then sells them at his own profit, to the tune of thousands of dollars a month. The marketer also does many web promotions and a monthly set of videos to promote the makers of these samples. This business has worked well in sending customers my way in the past. However, a few months ago, the marketer threatened to call the whole thing off for a month, claiming there were not enough samples to sell. So all the businesses rallied and sent in more. Two weeks later the marketer posted publicly that his spouse’s hours had been cut the month before, and he was strapped for cash. This apparent dishonesty turned me off from using the service for many months. When I finally sent in samples again, I found that the same thing is still happening: the marketer is threatening to call off the promotion for the month if more samples are not sent in. Does this kind of behavior warrant dropping this business tool from my arsenal? Or am I just reacting emotionally?

My Answer, In Brief: This marketer is flying a slew of red flags: he seems dishonest, manipulative, and sleazy. Don’t tolerate that or try to manage it: you’ll lose. Cut ties and find better people to promote your work.

Listen or Download:

• Start Time: 38:58
• Duration: 12:42
• Download: MP3 Segment
• Tags: Business, Character, Deception, Ethics, Honesty, Justice, Moral Judgment, Moral Wrongs

Links:

• Philosophy in Action: Identifying Dangerous People

To comment on this question or my answer, visit its comment thread.

Rapid Fire Questions

Questions:

• Would you pay $10,000 for an 18 karat gold Apple Watch?
• Should children be taught about sexual sadism and masochism?

Listen or Download:

• Start Time: 51:41
• Duration: 4:49
• Download: MP3 Segment

To comment on these questions or my answers, visit its comment thread.

Conclusion

Be sure to check out the topics scheduled for upcoming episodes! Don’t forget to submit and vote on questions for future episodes too!

• Start Time: 56:30

About Philosophy in Action Radio

Philosophy in Action Radio focuses on the application of rational principles to the challenges of real life. It broadcasts live on most Sunday mornings and many Thursday evenings over the internet. For information on upcoming shows, visit the Episodes on Tap. For podcasts of past shows, visit the Show Archives.