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From Free to Civilized Markets: First Steps towards Eutopia

Author

Listed:
  • Jakob Kapeller

    (Institute for Comprehensive Analysis of the Economy, Johannes Kepler University Linz, Austria)

  • Bernhard Schuetz

    (Department of Economics, Johannes Kepler University Linz)

  • Dennis Tamesberger

    (Department for Economic, Welfare and Social Policy, Chamber of Labour, Linz, Austria)

Abstract

Unfettered market forces tend to violate basic universal concepts like justice, dignity or fairness. Therefore we suggest moving to a new concept of markets, which we label 'civilized markets'. A civilized market tries to ensure that free entrepreneurship and open markets are eventually compatible to these basic and universal values that also serve as moral cornerstones of the European project. We propose to establish a new European institution that should set and enforce minimum standards for goods sold on the European market in order to accomplish what we call a 'civilized market'.

Suggested Citation

  • Jakob Kapeller & Bernhard Schuetz & Dennis Tamesberger, 2014. "From Free to Civilized Markets: First Steps towards Eutopia," ICAE Working Papers 28, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.
    • Handle: RePEc:ico:wpaper:28
    as

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