The Ethics Of The Market

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?

The Ethics of the Market makes a distinctive contribution to the literature on the morality of the market by synthesizing the work of a number of liberal scholars into a systematic defence of the free market on ethical grounds. This defence addresses questions of social justice, the moral pre-requisites of a market economy, the nature of the needs that the market satisfies and the appropriate boundaries that should be placed around the operation of the market.

Comprising cutting-edge work on the state of social economics today, this theoretically diverse book includes strong emphasis on the role of ethics, morality, identity, and society in economic theorizing. Much existing economic theory overlooks ethics. Rather than situating the market and values at separate extremes of a continuum, Ethics and the Market contends that the two are necessarily and intimately related. This volume brings together some of the best work in the social economics tradition, with strong contributions and pedagogy, and a cross-national blend of economics, philosophy, and policy. The contributors embed the economic within the social, rather than viewing 'the economy' and 'society' as separable spheres of life activity, and in so doing, three key themes are illuminated, corresponding to the volume's tripartite structure: Morality and Markets Redefining the Boundaries of Economics Social Economics in Transition. Ethics and the Market illuminates the diverse and dynamic theoretical approaches that are employed in social economics, reflecting on their continuously evolving relationship with neoclassical economics. Taking an innovative approach, this integrative book challenges traditional ways of thinking, and will prove vital reading for students and academics in the fields of Economics, Sociology, Gender Studies, and Public Policy.

Morality and the Market is a business ethics anthology unlike any other. The book covers the foundations of markets, their operations, and their effects by incorporating most traditional business ethics topics while introducing new ones as well. The result is a text with genuine diversity of opinion, philosophical depth, and breadth of topic, accompanied throughout by a knowledgeable and sympathetic account of the traditional issues in business ethics.Morality and the Market places special and distinctive emphasis on virtue and its applicability to the contexts of commerce. Each of the traditional topics of business ethics is related to particular virtues. For example, the virtue of honesty is related to advertising and sales; integrity is related to whistle-blowing; social responsibility is related to business profit; and courage is related to entrepreneurship. Morality and the Market explores the moral foundations of markets, their moral consequences, and considers the effects of commerce on the arts, culture, the environment, and technological progress.

This text introduces readers to the relationship between economics and ethics and to the application of economic ethics in the evaluation of the market. The insights it provides help to develop the reasoning and analytical skills needed to criticize economic analysis as well as to apply ethical concepts to moral issues in economic policy.

Marketing, while essential to organisational success, is arguably one of the most controversial aspects of business management. Criticisms of marketing’s impact range from fostering materialism and unsustainable consumption patterns through to the use of deception, stifling of innovation and lowering of quality, to name but a few. Taking a holistic and international perspective, this book critically examines the ethical challenges marketing faces and explores strategies marketers can use to respond to those challenges. The book examines specific aspects of marketing activities, such as ethical considerations in relation to young consumers, potentially harmful products and criticism of the societal impact of medical, arts and tourism marketing activities. It then combines these with wider discussions of frameworks that enable marketers to respond to ethical challenges, supplemented by discussions of cross-cultural and international perspectives, consumer responses and ethical consumption movements as well as shifting historical perceptions of marketing ethics. The book is accompanied by a companion website including: PowerPoint slides and teaching notes per chapter, links to free SAGE journal articles and online videos selected per chapter by the authors, quizzes per chapter and links to further reading online.

Provides a critique of the market economy, focusing primarily but not exclusively on the work of F.A. Hayek.

This work addresses the ethical questions underlying major domains of marketing such as marketing research, distribution, advertising, and retailing.