Do markets corrupt our morals?

By:

Storr, Virgil Henry

Contributor(s):

Choi, Ginny Seung

Material type: Text

TextPublication details: Springer Switzerland 2019Description: xiii, 281 pISBN:

9783030184155

Subject(s):

DDC classification:

306.342 STO

Summary: About this book 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 of 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.

List(s) this item appears in: 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	Public Policy & General Management	306.342 STO (Browse shelf(Opens below))	1	Available		002792

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Previous	306.3 TER Behavioral public economics:	306.3 WEB Economy and society	306.34 LAV The cooperative economy: a solution to societal grand challenges	306.342 STO Do markets corrupt our morals?	306.420968 MIS Indigenous knowledge system: traditions and transformations	306.461 CON Applied sociology of health and illness: a problem-based learning approach	306.470954 MCG Crafting the nation in colonial India	Next

About this book
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 of 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.

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