Markets and morals: justifying kidney sales and legalizing prostitution

By:

Ng, Yew-Kwang

Material type: Text

TextPublication details: Cambridge University Press New York 2019Description: x, 209 pISBN:

9781316646571

Subject(s):

DDC classification:

174.4 NGY

Summary: Considering efficiency, equality, and morality, this book argues for qualified market expansion, particularly in legalizing kidney sales and prostitution. Legalizing prostitution will benefit both men and women, as argued in a chapter jointly written with Yan Wang. Blood donation without monetary compensation can still result in adequate blood supply if schools educate children that blood donation can actually benefit a donor's health. As a society becomes more advanced, with higher incomes and a better educated populace, more activities can be subject to market exchange, with gradual popular acceptance. Without serious misinformation and irrationality, inequality/fairness as such cannot be a valid reason for limiting the scope of the market. The book supports the use of markets to increase efficiency while also increasing the effort to promote equality, making all income groups better off. Explores how kidney sales and legalized prostitution in particular would significantly increase social welfare while considering efficiency, equality and morality Extends economic analysis to include such effects as the possible crowding out of intrinsic motivation and morality in using the market, thus helping to reduce the anti-market sentiments that might be based on mistaken views Argues that the progression of society through higher degrees of division of labor, higher incomes, better education, more liberalism, and more understanding of economics will typically allow a wider scope for using markets

List(s) this item appears in: Marketing | Public Policy & General Management

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Item type	Current library	Collection	Call number	Copy number	Status	Date due	Barcode
Book	Indian Institute of Management LRC General Stacks	Marketing	174.4 NGY (Browse shelf(Opens below))	1	Available		002525

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Table of Contents
Preface
Acknowledgements
1. Introduction
2. The well-known case of lateness fees
3. Extending economic analysis
4. The anti-market sentiment
5. The inequality/exploitation case against commodification is invalid
6. Repugnance? Similar to 'honour' killing
7. Crowding out or crowding in?
8. Market expansion is a mark of progress
9. The case for legalising kidney sales
10. Making presumed consent the default option
11. Blood donation
12. Prostitution Yan Wang and Yew-Kwang Ng
13. Conscription
14. Profiteering
15. Water: a typical case of under-pricing
16. Fines, imprisonment, or whipping?
17. Some specific areas
18. Concluding remarks.

Considering efficiency, equality, and morality, this book argues for qualified market expansion, particularly in legalizing kidney sales and prostitution. Legalizing prostitution will benefit both men and women, as argued in a chapter jointly written with Yan Wang. Blood donation without monetary compensation can still result in adequate blood supply if schools educate children that blood donation can actually benefit a donor's health. As a society becomes more advanced, with higher incomes and a better educated populace, more activities can be subject to market exchange, with gradual popular acceptance. Without serious misinformation and irrationality, inequality/fairness as such cannot be a valid reason for limiting the scope of the market. The book supports the use of markets to increase efficiency while also increasing the effort to promote equality, making all income groups better off.

Explores how kidney sales and legalized prostitution in particular would significantly increase social welfare while considering efficiency, equality and morality
Extends economic analysis to include such effects as the possible crowding out of intrinsic motivation and morality in using the market, thus helping to reduce the anti-market sentiments that might be based on mistaken views
Argues that the progression of society through higher degrees of division of labor, higher incomes, better education, more liberalism, and more understanding of economics will typically allow a wider scope for using markets

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