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I didn't find a single argument in favor of the claim in the title, i.e. that the market economy will somehow destroy itself without morality. It's just a firm
by lazyjones 13y ago
I didn't find a single argument in favor of the claim in the title, i.e. that the market economy will somehow destroy itself without morality. It's just a firm belief the author has, or perhaps a hope ...
- scotty79 13y agoSome causes of market destruction could be monopolies (that grow powerful enough to close market to new entrants) and "market for lemons". Not sure how morality could help though.
- calibraxis 13y agoYes, there's zillions of better articles. But why would a serious argument against markets be voted up here? (Any serious market abolitionist would explain pervasive externalities, enormous inefficiency of markets, rewarding participants for acting sociopathically and punishing others, etc.) But this is a place where people discuss hawking things called "minimum viable products" and so on.
- Symmetry 13y agoI've been meaning to read The Bourgeois Virtues, a book entirely about the importance of morality in functioning market economies. But while morality is very important in a market economy, planned and traditional economies destroy themselves even more quickly in the face of moral breakdown.
- yk 13y agoFor the argument, see Schumpeter's Capitalism, Socialism and Democracy.