Advertisement

The Journal of Value Inquiry

, Volume 51, Issue 4, pp 629–639 | Cite as

Not Really a Market Without Limits

  • Jasmine Carter
Article

Jason Brennan and Peter M. Jaworski in Markets Without Limits (MWL) defend the thesis that if you can do it for free, you can do it for money; there are no inherent limits to what can be bought and sold. However, they state that their claim is not insisting that there should be a free, unregulated market, and indeed they hold the view that regulations can often resolve issues that arise in controversial markets. While I am in support of their general thesis, I argue that the MWL claim is not as strong as it could be and that they have not really proposed a market without limits.

MWL argues that the anti-commodification theorists misdiagnosed the problem—it is not what is being bought and sold that is the issue, but how things are being bought and sold.1 If a good or service is not wrong to own or perform, then the market does not introduce wrongness by buying or selling it. They concede, however, that there are reasons to be concerned about howwe buy and sell and offer regulations as...

Notes

Acknowledgements

I would like to give a very special thanks to James Stacey Taylor for his support of this project and his helpful comments on earlier versions of this paper. I am also grateful to Mike Huemer, Josh Straight, Virgil Storr, Peter Boettke, and Chris Coyne for discussions on markets that helped contribute to the final version of this paper.

References

  1. Boettke, Peter J. 2002. “Information and Knowledge: Austrian Economics in Search of its Uniqueness,” The Review of Austrian Economics 15, (4): 263–74.Google Scholar
  2. Boettke, Peter J. 2012. Living Economics: Yesterday, Today, and Tomorrow. Oakland, CA: The Independent Institute.Google Scholar
  3. Brennan, Jason and Peter M. Jaworski. 2016. Markets Without Limits: Moral Virtues and Commercial Interests. New York, NY: Routledge.Google Scholar
  4. Hayek, Friedrich A. 1976. “The Market Order or Catallaxy.” Law, Legislation and Liberty: Volume 2: The Mirage of Social Justice. Chicago, IL: The University of Chicago Press.Google Scholar
  5. Hayek, Friedrich A. 1945. “The Use of Knowledge in Society.” The Market and Other Orders: The Collected Works of F.A. Hayek, Volume 15, ed. Bruce Caldwell. Chicago, IL: The University of Chicago Press, 2014.Google Scholar
  6. Huemer, Michael. 2013. The Problem of Political Authority: An Examination of the Right to Coerce and the Duty to Obey. New York, NY: Palgrave Macmillan.Google Scholar
  7. Lavoie, Don. 2016. National Economic Planning: What is Left? (Cato Institute, 1985). Reprint, Mercatus Center at George Mason University.Google Scholar
  8. Nozick, Robert. 2013. Anarchy, State, and Utopia. New York, NY: Basic Books.Google Scholar

Copyright information

© Springer Science+Business Media B.V., part of Springer Nature 2017

Authors and Affiliations

  1. 1.University of ColoradoBoulderUSA

Personalised recommendations