Do Markets Corrupt Our Morals? -

Do Markets Corrupt Our Morals?

By Virgil Henry Storr, Ginny Seung Choi

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The most damning criticism of markets is that they are morally corrupting. As we increasingly engage in market activity, the more likely we are to become selfish, corrupt, rapacious and debased. Even Adam Smith, who famously celebrated markets, believed that there were moral costs associated with life in market societies. This book explores whether or not engaging in market activities is morally corrupting. Storr and Choi demonstrate that people in market societies are wealthier, healthier, happier and better connected than those in societies where markets are more restricted. More provocatively, they explain that successful markets require and produce virtuous participants. Markets serve as moral spaces that both rely on and reward their participants for being virtuous. Rather than harming individuals morally, the market is an arena where individuals are encouraged to be their best moral selves. Do Markets Corrupt Our Morals? invites us to reassess the claim that markets corrupt our morals.

Product code: 9783030184155

ISBN 9783030184155
Dimensions (HxWxD in mm) H235xW155
Edition 1st ed. 2019
No. Of Pages 281
Publisher Springer Nature Switzerland AG
The most damning criticism of markets is that they are morally corrupting. Even Adam Smith, who famously celebrated markets, believed that there were moral costs associated with life in market societies.