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Bruni and Sugden on market virtues

Author

Listed:
  • Luís C. Calderón Gómez

    (Benjamin N. Cardozo School of Law)

  • Robert Talisse

    (Vanderbilt University)

  • John A. Weymark

    (Vanderbilt University)

Abstract

According to classical liberalism, markets are instruments for the mutually advantageous voluntary exchange of goods and services among individuals who have conflicting interests. Some critics have used a virtue ethics understanding of behavior in markets to call for moral limits to markets because this classical view does not respect the internal value of human practices and the intrinsic motivations of individuals. In response, Luigino Bruni and Robert Sugden have offered a virtue ethics defense of markets, thereby “reclaiming virtue ethics for economics.” We argue that their account needs further elaboration and clarification before it is possible to assess the soundness of their virtue-theoretic understanding of markets.

Suggested Citation

  • Luís C. Calderón Gómez & Robert Talisse & John A. Weymark, 2025. "Bruni and Sugden on market virtues," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 72(2), pages 1-24, December.
    • Handle: RePEc:spr:inrvec:v:72:y:2025:i:2:d:10.1007_s12232-025-00491-0
    DOI: 10.1007/s12232-025-00491-0
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    References listed on IDEAS

    as
    1. Bertrand Crettez, 2017. "On Sugden’s “mutually beneficial practice” and Berge equilibrium," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 64(4), pages 357-366, December.
    2. Anderson, Elizabeth, 1990. "The Ethical Limitations of the Market," Economics and Philosophy, Cambridge University Press, vol. 6(2), pages 179-205, October.
    3. Bruni, Luigino & Sugden, Robert, 2008. "Fraternity: Why The Market Need Not Be A Morally Free Zone," Economics and Philosophy, Cambridge University Press, vol. 24(1), pages 35-64, March.
    4. Benedetto Gui, 2021. "In search of a market morality for making real the “Community of Advantage”: a note on Sugden’s “Principle of Mutual Benefit”," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 68(1), pages 131-140, March.
    5. Luigino Bruni & Robert Sugden, 2013. "Reclaiming Virtue Ethics for Economics," Journal of Economic Perspectives, American Economic Association, vol. 27(4), pages 141-164, Fall.
    6. Shaun P. Hargreaves Heap, 2021. "A community of advantage or mutual respect?," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 68(1), pages 41-49, March.
    7. Michael J. Sandel, 2013. "Market Reasoning as Moral Reasoning: Why Economists Should Re-engage with Political Philosophy," Journal of Economic Perspectives, American Economic Association, vol. 27(4), pages 121-140, Fall.
    8. Satz, Debra, 2010. "Why Some Things Should Not Be for Sale: The Moral Limits of Markets," OUP Catalogue, Oxford University Press, number 9780195311594, Decembrie.
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    More about this item

    Keywords

    Free markets; MacIntyrean practices; Market virtues; Moral limits to markets; Virtue ethics; Voluntary exchange;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement

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