🚀 go-pugleaf

In article <BRENDAN.92Jul22114846@betty.cs.widener.edu>, brendan@cs.widener.edu (Brendan Kehoe) writes:
> Was the decision to sell the stock in Time Warner owned by
> Philadelphia's municipal pension fund a good one?  (They voted
> yesterday to sell $1.6M in Time Warner stock because of Ice-T's album
> "Body Count", which has the song "Cop Killer" on it.)  What sort of
> precedent does it set?  I'm afraid that other similar groups will
> start to use the "objectionable" watermark as their metric for whom
> they should and should not fund.  Was it wise?

It is always moral to only fund with your money those activities which you
think are moral, just as it is moral to support with other actions only
those activities which you think are moral.  Thus does a free market
society express its aggregate morality.

On the other hand, the real owners of the resources involved are the
pensionees, and I don't think they have the option of moving their money
elsewhere if they in turn object to the actions of the pension fund managers.

Of course, they could always stop working for the government . . .