The moral impositions of markets
Posted on May 2, 2012
In his review of Harvard University philosopher Michael Sandel’s new book, What Money Can’t Buy: the Moral Limits of Markets, Weekly Standard columnist Jonathan Last says we need to accept that economic systems impose moral values:
Proponents of market morality claim that it imposes no belief system, but that’s just a smoke screen. Choosing to place utility maximization at the core of your belief system is no different from choosing any other guiding ideological precept. Every problem has an incentive-based solution; every tension can be resolved by seeking the maximally efficient outcome.