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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.
The chapters in this volume explore, engage and expand on the key
thinkers and ideas of the Austrian, Virginia, and Bloomington
schools of political economy. The book emphasizes the continuing
relevance of the contributions of these schools of thought to our
understanding of cultural, social, moral and historical processes
for interdisciplinary research in the social sciences and
humanities. An analysis of human action that deliberate divorces it
from cultural, social, moral and historical processes will (at
least) limit and (at worst) distort our understanding of human
phenomena. The diversity in topics and approaches will make the
volume of interest to readers in a variety of fields, including:
anthropology, communications, East Asian languages &
literature, economics, law, musicology, philosophy, and political
science.
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