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Why Some Things Should Not Be for Sale: The Moral Limits of Markets

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  • Satz, Debra

    (Stanford University)

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    Abstract

    What's wrong with markets in everything? Markets today are widely recognized as the most efficient way in general to organize production and distribution in a complex economy. And with the collapse of communism and rise of globalization, it's no surprise that markets and the political theories supporting them have seen a considerable resurgence. For many, markets are an all-purpose remedy for the deadening effects of bureaucracy and state control. But what about those markets we might label noxious-markets in addictive drugs, say, or in sex, weapons, child labor, or human organs? Such markets arouse widespread discomfort and often revulsion. In Why Some Things Should Not Be for Sale, philosopher Debra Satz takes a penetrating look at those commodity exchanges that strike most of us as problematic. What considerations, she asks, ought to guide the debates about such markets? What is it about a market involving prostitution or the sale of kidneys that makes it morally objectionable? How is a market in weapons or pollution different than a market in soybeans or automobiles? Are laws and social policies banning the more noxious markets necessarily the best responses to them? Satz contends that categories previously used by philosophers and economists are of limited utility in addressing such questions because they have assumed markets to be homogenous. Accordingly, she offers a broader and more nuanced view of markets-one that goes beyond the usual discussions of efficiency and distributional equality--to show how markets shape our culture, foster or thwart human development, and create and support structures of power. An accessibly written work that will engage not only philosophers but also political scientists, economists, legal scholars, and public policy experts, this book is a significant contribution to ongoing discussions about the place of markets in a democratic society. Available in OSO: http://www.oxfordscholarship.com/oso/public/content/philosophy/9780195311594/toc.html

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    Bibliographic Info

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    This book is provided by Oxford University Press in its series OUP Catalogue with number 9780195311594 and published in 2010.

    ISBN: 9780195311594
    Order: http://ukcatalogue.oup.com/product/9780195311594.do
    Handle: RePEc:oxp:obooks:9780195311594

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    Cited by:
    1. Beckert, Jens & Wehinger, Frank, 2011. "In the shadow illegal markets and economic sociology," MPIfG Discussion Paper 11/9, Max Planck Institute for the Study of Societies.
    2. Werner Gueth & Hartmut Kliemt, 2013. "Fairness That Money Can Buy. Procedural Egalitarianism in Practice," Rationality, Markets and Morals, Frankfurt School Verlag, Frankfurt School of Finance & Management, vol. 4(65), May.
    3. Beckert, Jens, 2011. "Die Sittlichkeit der Wirtschaft: Von Effizienz- und Differenzierungstheorien zu einer Theorie wirtschaftlicher Felder," MPIfG Working Paper 11/8, Max Planck Institute for the Study of Societies.
    4. Akyel, Dominic, 2014. "Ökonomisierung und moralischer Wandel: Die Ausweitung von Marktbeziehungen als Prozess der moralischen Bewertung von Gütern," MPIfG Discussion Paper 14/13, Max Planck Institute for the Study of Societies.
    5. Allison, E.H., 2011. "Aquaculture, fisheries, poverty and food security," Working Papers, The WorldFish Center, number 39575.

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