Explain how Aristotle’s Doctrine of the Mean works differently from Ethical Relativism and if Ethical Relativism would result in a different conclusion if the administrative agency is acting ethical or not in passing such a new regulation.
2. Applying Aristotle’s Doctrine of the Mean to Student Loan Forgiveness
Aristotle’s Doctrine of the Mean emphasizes the importance of moderation and balance in achieving virtue, suggesting that virtue lies between extremes of deficiency and excess. For example, courage is the balance between cowardice (deficiency) and recklessness (excess), and generosity is the balance between stinginess (deficiency) and extravagance (excess). Applying this to student loan forgiveness, we can evaluate whether forgiving student loans represent a balanced, ethical approach or swings too far toward one extreme.
· Deficiency (Excessive Burden on Borrowers): Ignoring the financial burden of borrowers and leaving them to suffer under debt would be unethical, as it shows a lack of compassion and fails to address the financial hardship many face.
· Excess (Excessive Loan Forgiveness): Forgiving large amounts of debt without considering the broader consequences could lead to moral hazard, where people expect future bailouts and take on more debt. This could also unfairly burden taxpayers and create an imbalance in responsibility, making it unethical.
· The Mean (Balanced Approach): A virtuous approach would involve targeted loan forgiveness for those in genuine need while ensuring future borrowers are more financially responsible. It would also include reforms to address rising education costs and manage loan repayment, ensuring that forgiveness is tied to specific criteria like financial need or public service. This balanced approach would be ethical by providing relief without creating long-term adverse effects on society, taxpayers, or the economy.
Conclusion: Under Aristotle’s Doctrine of the Mean, student loan forgiveness can be considered ethical if it strikes a balance between offering relief to those who need it and avoiding excessive dependence or irresponsibility. A well-crafted, balanced policy would align with Aristotle’s emphasis on moderation, promoting fairness, responsibility, and sustainability.