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The Ethical Limitations of the Market

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  • Anderson, Elizabeth

Abstract

A distinctive feature of modern capitalist societies is the tendency of the market to take over the production, maintenance, and distribution of goods that were previously produced, maintained, and distributed by nonmarket means. Yet, there is a wide range of disagreement regarding the proper extent of the market in providing many goods. Labor has been treated as a commodity since the advent of capitalism, but not without significant and continuing challenges to this arrangement. Other goods whose production for and distribution on the market are currently the subject of dispute include sexual intercourse, human blood, and human body parts such as kidneys. How can we determine which goods are properly subjects of market transactions and which are not? The purpose of this article is to propose a theory of what makes economic goods differ from other kinds of goods, which can help to answer this question.

Suggested Citation

  • Anderson, Elizabeth, 1990. "The Ethical Limitations of the Market," Economics and Philosophy, Cambridge University Press, vol. 6(2), pages 179-205, October.
    • Handle: RePEc:cup:ecnphi:v:6:y:1990:i:02:p:179-205_00
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    1. Antoci, Angelo & Sacco, Pier Luigi & Vanin, Paolo, 2007. "Social capital accumulation and the evolution of social participation," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 36(1), pages 128-143, February.
    2. Agee, Mark D. & Crocker, Thomas D., 2013. "Operationalizing the capability approach to assessing well-being," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 46(C), pages 80-86.
    3. Kevin Leportier, 2024. "Altruism and the Simple Argument for Markets," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-04571499, HAL.
    4. Beckert, Jens, 2011. "Die Sittlichkeit der Wirtschaft: Von Effizienz- und Differenzierungstheorien zu einer Theorie wirtschaftlicher Felder," MPIfG Working Paper 11/8, Max Planck Institute for the Study of Societies.
    5. Pies, Ingo, 2020. "Das Moralparadoxon der Moderne: Ordonomische Überlegungen zur modernen Ethik als Ethik der Moderne," Discussion Papers 2020-01, Martin Luther University of Halle-Wittenberg, Chair of Economic Ethics.
    6. Steen Thomsen, 2001. "Business Ethics as Corporate Governance," European Journal of Law and Economics, Springer, vol. 11(2), pages 153-164, March.
    7. Vida Panitch, 2020. "Liberalism, commodification, and justice," Politics, Philosophy & Economics, , vol. 19(1), pages 62-82, February.
    8. Crocker, Thomas D. & Shogren, Jason F. & Turner, Paul R., 1998. "Incomplete beliefs and nonmarket valuation," Resource and Energy Economics, Elsevier, vol. 20(2), pages 139-162, June.
    9. Kapetaniou, Chrystalla & Lee, Soo Hee, 2017. "A framework for assessing the performance of universities: The case of Cyprus," Technological Forecasting and Social Change, Elsevier, vol. 123(C), pages 169-180.
    10. Pillutla, Madan M. & Chen, Xiao-Ping, 1999. "Social Norms and Cooperation in Social Dilemmas: The Effects of Context and Feedback, , ," Organizational Behavior and Human Decision Processes, Elsevier, vol. 78(2), pages 81-103, May.
    11. Luis Francisco Carvalho & Joao Rodrigues, 2006. "On markets and morality: Revisiting Fred Hirsch," Review of Social Economy, Taylor & Francis Journals, vol. 64(3), pages 331-348.
    12. Antoci, Angelo & Sacco, Pier Luigi & Vanin, Paolo, 2001. "Economic Growth and Social Poverty: The Evolution of Social Participation," Bonn Econ Discussion Papers 13/2001, University of Bonn, Bonn Graduate School of Economics (BGSE).
    13. Eriksson, Ralf, 2005. "On the ethics of environmental economics as seen from textbooks," Ecological Economics, Elsevier, vol. 52(4), pages 421-435, March.

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