Justice

Is it morally acceptable for the rich to use their wealth to hoard an essential resource (such as housing) in order to make a profit?

Comments

One's answer to that might well depend on one's general politicalorientation. There are those who think that property is theft (a sloganassociated with Karl Marx and Pierre-Joseph Proudhon). Such peoplewould tend to answer your question 'absolutely not!'. Others believethat people can and often do own things and do have a right to hoard,if they choose to: it would be a good and generous thing for thewealthy to share their resources. But they are not morally obliged to.Personally I think it is hard to justify the institution of ownership.John Locke famously attempted to do so. (I think this was related to his defence of British colonialism in America). Roughly speaking (if I remembercorrectly, which perhaps I don't - maybe someone will correct me if Iam wrong) his idea was: God gave the Earth to mankind in common. So ifthere is some as-yet-unowned good, you have a right to put it to use -mix your labour with it and thereby increase its value. Since you own your body, you thereby come toown the good. However, Locke has a proviso: there has to be enough andas good left in common for others. It is hard to see what gives anyonethe right to procure a previously unowned object if there are othersaround who need it as much or more. And this would lead one to thinkthat nobody has the right to hoard an essential resource.

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Is it morally acceptable for the rich to use their wealth to hoard an *essential