This book review was written by Eugene Kernes
“The second reason we should hesitate
to put everything up for sale is more difficult to describe. It is not about inequality and fairness but
about the corrosive tendency of markets.
Putting a price on the good things in life can corrupt them. That’s because markets don’t only allocate
goods; they also express and promote certain attitudes toward the goods being
exchanged.” – Michael Sandel, Introduction: Markets and Morals, Page 10
“The difference is this: A market economy is a tool – a
valuable and effective tool – for organizing productive activity. A market society is a way of life in which
market values seep into every aspect of human endeavor. It’s a place where social relations are made
over in the image of the market.” – Michael Sandel, Introduction: Markets and
Morals, Page 11
“The corruption argument, by contrast, focuses on the character of the goods themselves and the norms that should govern them. So it cannot be met simply by establishing fair bargaining conditions. Even in a society without unjust differences of power and wealth, there would still be things that money should not buy. This is because markets are not mere mechanisms; they embody certain values. And sometimes, market values crowd out nonmarket norms worth caring about.” – Michael Sandel, Chapter 3: How Markets Crowd Out Morals, Page 85
Is This An Overview?
Societies decide what can be put up for sale and what cannot
be put on sale. With the efficiency of
markets, market methodology has been dominating culture. Transitioning a market economy, into a market
society. Within a market economy, the
market acts as an effective tool of organizing productive activity. Within a market society, market values are inherent
in everything that is done, with social relations determined by the
market. Markets do more than allocate
resources, markets also change the product they regulate, markets change social
norms. There are consequences to
transitioning society to become more like a market, by putting more on sale
than before. The consequences are
inequality and corruption.
As more money is needed to function in a society, the more
money matters in society. When what can
be purchased with money is political influence, better health care, education,
and safety, the more inequality there will be.
Some assume that the most willing to pay are also the most able to
pay. But ability to pay might not be
possible for those most willing to pay.
Putting a price on anything changes its value, can corrupt
the product or act. A price can be a
lower mode of valuation than is appropriate to the product or act. Markets influence attitudes towards what is
being exchanged. Markets override
nonmarket values. Values which are
beneficial to society. Markets override
intrinsic motivation with extrinsic motivation.
Markets can train people to only do certain activities when they are
paid, which includes activities that would be helpful to themselves or
others. While people tend to be willing
to accept certain tasks or decisions as part of civil service, for the public
spirit. People are often not willing to
do the same tasks when paid to, as that would constitute bribery.
Caveats?
The book is based on examples. Interest in the examples depends on the reader. The systemic analysis on the consequences of the commercialization of everything, is spread throughout the book and can sometimes be repetitive.
