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Moral Markets

Author: Paul J. Zak

Publisher: Princeton University Press

Published: 2010-12-16

Total Pages: 387

ISBN-13: 1400837367

Like nature itself, modern economic life is driven by relentless competition and unbridled selfishness. Or is it? Drawing on converging evidence from neuroscience, social science, biology, law, and philosophy, Moral Markets makes the case that modern market exchange works only because most people, most of the time, act virtuously. Competition and greed are certainly part of economics, but Moral Markets shows how the rules of market exchange have evolved to promote moral behavior and how exchange itself may make us more virtuous. Examining the biological basis of economic morality, tracing the connections between morality and markets, and exploring the profound implications of both, Moral Markets provides a surprising and fundamentally new view of economics--one that also reconnects the field to Adam Smith's position that morality has a biological basis. Moral Markets, the result of an extensive collaboration between leading social and natural scientists, includes contributions by neuroeconomist Paul Zak; economists Robert H. Frank, Herbert Gintis, Vernon Smith (winner of the 2002 Nobel Prize in economics), and Bart Wilson; law professors Oliver Goodenough, Erin O'Hara, and Lynn Stout; philosophers William Casebeer and Robert Solomon; primatologists Sarah Brosnan and Frans de Waal; biologists Carl Bergstrom, Ben Kerr, and Peter Richerson; anthropologists Robert Boyd and Michael Lachmann; political scientists Elinor Ostrom and David Schwab; management professor Rakesh Khurana; computational science and informatics doctoral candidate Erik Kimbrough; and business writer Charles Handy.

What Money Can't Buy

Author: Michael J. Sandel

Publisher: Farrar, Straus and Giroux

Published: 2012-04-24

Total Pages: 256

ISBN-13: 1429942584

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Should we pay children to read books or to get good grades? Should we allow corporations to pay for the right to pollute the atmosphere? Is it ethical to pay people to test risky new drugs or to donate their organs? What about hiring mercenaries to fight our wars? Auctioning admission to elite universities? Selling citizenship to immigrants willing to pay? In What Money Can't Buy, Michael J. Sandel takes on one of the biggest ethical questions of our time: Is there something wrong with a world in which everything is for sale? If so, how can we prevent market values from reaching into spheres of life where they don't belong? What are the moral limits of markets? In recent decades, market values have crowded out nonmarket norms in almost every aspect of life—medicine, education, government, law, art, sports, even family life and personal relations. Without quite realizing it, Sandel argues, we have drifted from having a market economy to being a market society. Is this where we want to be?In his New York Times bestseller Justice, Sandel showed himself to be a master at illuminating, with clarity and verve, the hard moral questions we confront in our everyday lives. Now, in What Money Can't Buy, he provokes an essential discussion that we, in our market-driven age, need to have: What is the proper role of markets in a democratic society—and how can we protect the moral and civic goods that markets don't honor and that money can't buy?

Do Markets Corrupt Our Morals?

Author: Virgil Henry Storr

Publisher: Springer Nature

Published: 2019-08-21

Total Pages: 281

ISBN-13: 3030184161

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The most damning criticism of markets is that they are morally corrupting. As we increasingly engage in market activity, the more likely we are to become selfish, corrupt, rapacious and debased. Even Adam Smith, who famously celebrated markets, believed that there were moral costs associated with life in market societies. This book explores whether or not engaging in market activities is morally corrupting. Storr and Choi demonstrate that people in market societies are wealthier, healthier, happier and better connected than those in societies where markets are more restricted. More provocatively, they explain that successful markets require and produce virtuous participants. Markets serve as moral spaces that both rely on and reward their participants for being virtuous. Rather than harming individuals morally, the market is an arena where individuals are encouraged to be their best moral selves. Do Markets Corrupt Our Morals? invites us to reassess the claim that markets corrupt our morals.

Markets and Morals

Author: Yew-Kwang Ng

Publisher: Cambridge University Press

Published: 2019-03-14

Total Pages: 223

ISBN-13: 1107194946

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The book is researched and written with strong academic rigor and persuasive argument that also makes it accessible to the general public. Considering efficiency, equality, and morality, it argues for market expansion, particularly in legalizing kidney sales and prostitution. These are highly controversial issues with important public policy significance.

Morals and Markets

Author: D. Friedman

Publisher: Springer

Published: 2008-09-15

Total Pages: 261

ISBN-13: 0230614981

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In this book, economist and evolutionary game theorist Daniel Freidman demonstrates that our moral codes and our market systems, while often in conflict, are really devices evolved to achieve similar ends, and that society functions best when morals and markets are in balance with each other.

The Morals of the Market

Author: Jessica Whyte

Publisher: Verso Books

Published: 2019-11-05

Total Pages: 289

ISBN-13: 1786633116

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The fatal embrace of human rights and neoliberalism Drawing on detailed archival research on the parallel histories of human rights and neoliberalism, Jessica Whyte uncovers the place of human rights in neoliberal attempts to develop a moral framework for a market society. In the wake of the Second World War, neoliberals saw demands for new rights to social welfare and self-determination as threats to “civilisation”. Yet, rather than rejecting rights, they developed a distinctive account of human rights as tools to depoliticise civil society, protect private investments and shape liberal subjects.

Religion and the Morality of the Market

Author: Daromir Rudnyckyj

Publisher: Cambridge University Press

Published: 2017-03-30

Total Pages: 309

ISBN-13: 1107186056

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This book focuses on how neoliberal market practices engender new forms of religiosity, and how religiosity shapes economic actions.

Journal of Markets and Morality

Author:

Publisher:

Published: 2007

Total Pages: 550

ISBN-13:

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Morality, Competition, and the Firm

Author: Joseph Heath

Publisher: Oxford University Press

Published: 2014-08-01

Total Pages: 336

ISBN-13: 0199990492

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In this collection of provocative essays, Joseph Heath provides a compelling new framework for thinking about the moral obligations that private actors in a market economy have toward each other and to society. In a sharp break with traditional approaches to business ethics, Heath argues that the basic principles of corporate social responsibility are already implicit in the institutional norms that structure both marketplace competition and the modern business corporation. In four new and nine previously published essays, Heath articulates the foundations of a "market failures" approach to business ethics. Rather than bringing moral concerns to bear upon economic activity as a set of foreign or externally imposed constraints, this approach seeks to articulate a robust conception of business ethics derived solely from the basic normative justification for capitalism. The result is a unified theory of business ethics, corporate law, economic regulation, and the welfare state, which offers a reconstruction of the central normative preoccupations in each area that is consistent across all four domains. Beyond the core theory, Heath offers new insights on a wide range of topics in economics and philosophy, from agency theory and risk management to social cooperation and the transaction cost theory of the firm.

Medieval Market Morality

Author: James Davis

Publisher: Cambridge University Press

Published: 2011-11-24

Total Pages: 533

ISBN-13: 1139502816

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This important study examines the market trade of medieval England by providing a wide-ranging critique of the moral and legal imperatives that underpinned retail trade. James Davis shows how market-goers were influenced not only by practical and economic considerations of price, quality, supply and demand, but also by the moral and cultural environment within which such deals were conducted. This book draws on a broad range of cross-disciplinary evidence, from the literary works of William Langland and the sermons of medieval preachers, to state, civic and guild laws, Davis scrutinises everyday market behaviour through case studies of small and large towns, using the evidence of manor and borough courts. From these varied sources, Davis teases out the complex relationship between morality, law and practice and demonstrates that even the influence of contemporary Christian ideology was not necessarily incompatible with efficient and profitable everyday commerce.