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The Ethics of the Market The Ethical Case for the MarketMeadowcroft's

In: A Research Annual

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  • Ayman Reda

Abstract

Meadowcroft starts his discussion of the ethics of markets by stating that the primary feature of a market system is the right to self-ownership. The ownership of property is derived from the right to the fruits of one's labor. This right to private property allows individuals to freely pursue their personal objectives, as it provides the unconstrained means to achieve one's ends. The logic that follows is that only within a market system with private property is the right to individual self-ownership preserved. On the contrary, a non-market system fails to satisfy individual objectives because individual objectives depend on the objectives of others, and as such, the objectives of some may be ignored or superseded (pp. 12–19).

Suggested Citation

  • Ayman Reda, 2007. "The Ethics of the Market The Ethical Case for the MarketMeadowcroft's," Research in the History of Economic Thought and Methodology, in: A Research Annual, pages 3-11, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:rhetzz:s0743-4154(06)25001-6
    DOI: 10.1016/S0743-4154(06)25001-6
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