Solved

Peter Singer: Famine, Affluence, and Morality

question 3

Multiple Choice

Peter Singer: Famine, Affluence, and Morality
Every year, natural and human disasters leave millions of people in dire need of help. Many people regard providing assistance to the victims of these disasters as an act of charity-something that is good to do, but that it is not wrong to refrain from doing. Singer argues that this is mistaken, and that nearly all of us are obligated to do far more to alleviate suffering around the globe. Singer's argument begins with two simple assumptions. The first is that suffering and death from lack of food, shelter, and medical care are bad. The second is the moral principle that "if it is in our power to prevent something bad from happening, without thereby sacrificing anything of comparable moral importance, we ought, morally, to do it." From these two assumptions, Singer claims, it follows that nearly all of us should be giving far more of our money to famine relief, and that spending this money on morally insignificant purchases (such as new clothes) is immoral.
Singer addresses several objections to his view. The first objection is this: because the suffering caused by famine would be alleviated if all affluent people were to contribute a relatively small amount, no single person can be required to contribute more than a modest sum. Singer allows that if everyone were to contribute to famine relief, no one would be obligated to contribute large sums of money. Because this is almost certain not to happen, however, Singer insists that we ought to do what we can to prevent suffering, provided that doing so will not involve sacrificing anything of comparable moral importance. The second objection maintains that Singer's view requires a substantial revision to our moral scheme, and requires us to make large sacrifices in our own well-being. Singer admits these consequences, but denies that they constitute legitimate objections. It might simply be the case that morality is very demanding. Further, Singer argues that his conclusion follows from the simple assumptions from which he begins; so, unless one has reason to doubt his assumptions or the soundness of his reasoning, one must accept his conclusion.
-According to Singer, compliance with his principle requires:

Definitions:

Income Bonds

Bonds that pay interest only when the issuer has sufficient earnings, making them riskier than regular bonds that guarantee interest payments.

Rating

A rating refers to an evaluation or assessment of something's quality, quantity, or a combination thereof, often used in financial contexts to gauge the creditworthiness of entities.

Interest

The cost of borrowing money or the payment received for lending money, typically expressed as an annual percentage rate.

Call Provision

A clause in a bond or other fixed-income security that allows the issuer to repurchase and retire the debt before its maturity date.