Markets and Morality

29 Pages Posted: 8 Feb 2015

See all articles by J. R. Clark

J. R. Clark

The University of Tennessee at Chattanooga

Dwight R. Lee

Southern Methodist University (SMU) - O’Neil Center for Global Markets and Freedom

Date Written: 2011

Abstract

A persuasive case for the market process cannot ignore the issue of morality. Unfortunately, while markets and market behavior depend on a moral foundation, it is one that seems inconsistent with the prevailing view of morality. This apparent inconsistency obscures in the minds of many the beneficial, even moral, outcomes of markets. We believe that making the moral case for markets is best done by recognizing this moral conflict and arguing that markets enhance the good realized from the prevailing view of morality by allowing the best use to be made of our limited moral capacities.

Suggested Citation

Clark, Jeff R. and Lee, Dwight R., Markets and Morality (2011). Cato Journal, Vol. 31, No. 1, 2011. Available at SSRN: https://ssrn.com/abstract=2561305

Jeff R. Clark (Contact Author)

The University of Tennessee at Chattanooga ( email )

Department of Economics
Suite 313 Fletcher Hall
Chattanooga, TN 37403-2598
United States

Dwight R. Lee

Southern Methodist University (SMU) - O’Neil Center for Global Markets and Freedom ( email )

United States

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