Abstract
Abstract This chapter articulates the building blocks of the market paradigm and develops their implications for moral, political, and legal theory. It argues that commitment to the individual rationality condition entails that the norms constitutive of a justified political morality must by justifiable to each agent given his or her interests. This theory of justification is, in an important and prevalent sense of the term, liberal. This form of liberalism suggests a methodology of hypothetical contractarianism as a way of deriving the substantive demands of a justifiable political morality. If the problem of rational choice is modeled as the problem of agreeing to a contract, rationality requires first the resolution of the defection problem.
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