Bailey, Rettler, and Warmke on the ethics of cryptocurrency (at Philosophy Compass)
October 29, 2021
A two-part article forthcoming at Philosophy Compass by Andrew M. Bailey, Bradley Rettler, and Craig Warmke discusses ethical questions surrounding cryptocurrency:
"Philosophy, Politics, and Economics of Cryptocurrency I: Money without State"
In this article, we describe what cryptocurrency is, how it works, and how it relates to familiar conceptions of and questions about money. We then show how normative questions about monetary policy find new expression in Bitcoin and other cryptocurrencies. These questions can play a role in addressing not just what money is, but what it should be. A guiding theme in our discussion is that progress here requires a mixed approach that integrates philosophical tools with the purely technical results of disciplines like computer science and economics.
"Philosophy, Politics, and Economics of Cryptocurrency II: The Moral Landscape of Monetary Design"
In this article, we identify three key design dimensions along which cryptocurrencies differ – privacy, censorship-resistance, and consensus procedure. Each raises important normative issues. Our discussion uncovers new ways to approach the question of whether Bitcoin or other cryptocurrencies should be used as money, and new avenues for developing a positive answer to that question. A guiding theme is that progress here requires a mixed approach that integrates philosophical tools with the purely technical results of disciplines like computer science and economics.
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