Abstract
Markets, Morals, and Virtues: Evidential and Conceptual Issues
Highlights
Highlights various mechanisms through which markets allegedly promote virtue (13)
Let me expand on the reservations I have concerning the two main arguments that the authors provide to substantiate their central thesis that markets are “moral training grounds that support moral improvement” (vi)
Below I shall attempt to demonstrate that the issue whether markets are morally corrupting is not resolved on purely empirical grounds and that philosophical considerations play a crucial role in adequately addressing such an issue
Summary
Highlights various mechanisms through which markets allegedly promote virtue (13). Chapter 7 explicates the implications of the previous chapters for the ongoing debate concerning market interventions and argues that “moral costs [...] result from curtailing market activity” (13). The authors claim that the material prosperity yielded by markets enables individual market participants to “avoid many difficult moral dilemmas” and makes them “better positioned to improve the lives of others [and] more willing to focus on the well-being of others” (126).
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