The Moral Economy | Page 2

repressive, 29. Moral heroism, 31. The
saving or provident character of morality, 32. Morality and the
consummation of life, 33.

CHAPTER II
THE LOGIC OF THE MORAL APPEAL . . . . . . . . . . . . . . . 34
I. THE STAND-POINT OF RATIONALISM AND
INDIVIDUALISM . . . . 34
Modern individualism, 34. Distinguished from scepticism, 36. The
individual as the organ of knowledge, 37. Moral individualism as a
protest against convention, 39. Duty as the rational ground of action, 40.
Reasonableness a condition of the consciousness of duty, 41.
II. THE LOGIC OF PRUDENCE . . . . . . . . . . . . . . . . . 43
Prudence as elementary, 43. Interest, action, and goodness, 43. The
alleged relativity of goodness, 43. The conflict of interests solved by
conciliation, 48. The limits of prudence, 49.
III. THE LOGIC OF PREFERENCE AND PURPOSE . . . . . . . . . . 50
The adoption of new interests and the problem of preference, 50. A
hypothetical solution of the problem, 51. Solution in the concrete case
through the organization of a purpose, 53. The principle of the
objective validity of interests, 54. The principle of the quantitative basis
of preference, 55.
IV. THE LOGIC OF IMPARTIALITY AND JUSTICE . . . . . . . . . 57
The private interest, 57. The personal factor negligible in counting
interests, 58. The refutation of egoism. The first proposition of egoism,
59. The second proposition of egoism, 61. Impartiality as a part of
justice, 63. Justice as imputing finality to the individual, 64. The
equality of rational beings as organs of truth, 64. Summary of justice,
66.
V. THE LOGIC OF GOOD-WILL . . . . . . . . . . . . . . . . . 67
All interests are entitled to consideration, 67. Goodwill and the growth

of new interests, 67.
VI. DUTY AND THE IMAGINATION . . . . . . . . . . . . . . . . 69
The logical imagination, 69. Rationalism and incentive to action, 70.
Rationalism and faith, 71.
CHAPTER III
THE ORDER OF VIRTUE . . . . . . . . . . . . . . . . . . . . 72
I. THE VIRTUES AND THEIR CLASSIFICATION . . . . . . . . . . 72
Summary of the content and logic of moral value, 72. Virtues as
verified rules of life, 73. The material and formal aspects of morality,
74. Materialism and formalism due to exaggeration, 75. The general
importance of the conflict between the material and formal motives, 76.
Duty identified with the formal motive, 76. Formalism less severely
condemned, 77. The five economies of interest, 77. Summary of virtues
and vices, 79. Table, 81.
II. THE ECONOMY OF THE SIMPLE INTEREST . . . . . . . . . . . 82
The simple interest not a moral economy, 82. Satisfaction the
root-value, and intelligence the elementary virtue, 82. Incapacity, 83.
Overindulgence the first form of materialism, 84. It is due to lack of
foresight, 85. Or to the complexity of interests, 86. Overindulgence as
the original sin, 86.
III. THE RECIPROCITY OF INTERESTS . . . . . . . . . . . . . 87
Prudence as a principle of organization, 87. Moderation and thrift, 87.
Honesty, veracity, and tact of the prudential form, 88. The inherent
value of the prudential economy. Individual and social health, 88.
Temperance and reason, 90. Prudential formalism, or asceticism, 92.
Asceticism illustrated by the Cynics, 92. Prudential materialism or
sordidness, 94. Aimlessness or idleness, 94.

IV. THE INCORPORATION OF INTERESTS . . . . . . . . . . . . . 95
Purpose as a principle of organization. Its intellectual character, 95. The
virtues subsidiary to purpose, 95. Truthfulness in the purposive
economy, 96. The value of achievement, 97. The formalistic error of
sentimentalism, 98. Deferred living, 98. Nationalism, 99. Egoism and
bigotry as types of materialism. The pride of opinion, 100. Egoism and
bigotry involve injustice, 103. The meaning of injustice, 103.
V. THE FRATERNITY OF INTERESTS . . . . . . . . . . . . . . . 105
Justice as a principle of organization, 105. Justice conditions rational
intercourse, 105. Discussion, freedom, and tolerance, 106. Anarchism
and scepticism, 107. Laissez-faire, 108. Justice and materialism.
Worldliness, 110. Ancient worldliness due to lack of pity, 110. Modern
worldliness due to lack of imagination, 111.
VI. THE UNIVERSAL SYSTEM OF INTERESTS . . . . . . . . . . . 112
The economy of good-will, 112. Good-will as the condition of real
happiness. Paganism and Christianity, 113. Merely formal good-will is
mysticism, 116. Mysticism