AVWONDA: The Ethics of Expression in a Chaotic Market

To speak is to transact. 

Speech plays a pivotal role in shaping socioeconomic and political landscapes. In the modern world, any attempt to curtail free speech must be met with scrutiny because to maim speech is to undermine equality, dignity, truth, and unity.

In democratic societies, speech is a public resource--one with many market makers. It remains the most vital currency for expression, culture, education, protest, and debate. No society can meaningfully shape public discourse without decentralising speech.

Its value lies in its chaotic nature, and it must be allowed to function freely for the public good.

Yet freedom of speech, paradoxically, can be detrimental. Philosopher Brian Leiter argues that unrestricted speech can perpetuate hate, incite violence, and spread misinformation.

The logic is sound: speech that violates the dignity and rights of others must be restrained. But how do we impose limits without deforming its essence? How do we distinguish truth from noise--and safeguard the very foundation of democracy?

Speech in society can be evaluated through the lens of protected and unprotected categories. Most constitutional democracies uphold essential pillars of protected speech--academic, commercial, creative, religious, and political. Conversely, unprotected speech includes false advertising, threats and harassment, incitement to violence, defamation, obscenity, and hate speech. 

The rise of Artificial Intelligence introduces a new dimension: algorithmic outputs that lack attribution but may still be construed as speech.

Whether protected or unprotected, speech has the power to obscure or amplify truth. Within this framework, the argument that restricting all forms of speech undermines democracy remains compelling. Just as a free market offers equal opportunity to buyers and sellers, the marketplace of speech must remain open to all ideas. Over time, such a marketplace filters truth from falsehood. Undermining speech at its source destroys the market altogether.

Free speech cannot be killed--nor can speech itself. As Nelson Mandela famously observed, he was born free, not with a hunger to be free. Philosophers like Judith Butler and J.L. Austin contend that speech is not merely expression, but action.

Attempts to suppress certain forms of speech often give rise to new ones. So too must speech remain--unbound, unfiltered, and unowned even in the face of wanton restriction. 

Subjecting speech to ethical standards may be the most viable path toward preserving our most treasured currency.
It is worth noting that one of cryptocurrency’s most valued attributes is its decentralised nature. 

Olunde Avwonda is a Kenyan thinker and writer focused on African economics, politics, and society.