Preferentism and the paradox of desire

The paradox of desire is an objection to desire-satisfaction, or preferentist, theories of welfare. In a nutshell, the objection goes like this. I can certainly desire that I be badly off. But if a desire-satisfaction theory of welfare is true, then—under certain assumptions—the hypothesis that I desire that I be badly off entails a contradiction. So much the worse for desire-satisfaction theories of welfare.
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