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Do Markets Corrupt Our Morals?

  • Virgil Henry Storr
  • Ginny Seung Choi
Book

Table of contents

  1. Front Matter
    Pages i-xiii
  2. Virgil Henry Storr, Ginny Seung Choi
    Pages 1-15
  3. Virgil Henry Storr, Ginny Seung Choi
    Pages 17-48
  4. Virgil Henry Storr, Ginny Seung Choi
    Pages 49-81
  5. Virgil Henry Storr, Ginny Seung Choi
    Pages 83-144
  6. Virgil Henry Storr, Ginny Seung Choi
    Pages 145-191
  7. Virgil Henry Storr, Ginny Seung Choi
    Pages 193-231
  8. Virgil Henry Storr, Ginny Seung Choi
    Pages 233-247
  9. Back Matter
    Pages 249-281

About this book

Introduction

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 of 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.

Keywords

market free market capitalism ethics economic ethics moral costs 2008 financial crisis Mercatus Center

Authors and affiliations

  • Virgil Henry Storr
    • 1
  • Ginny Seung Choi
    • 2
  1. 1.Department of EconomicsGeorge Mason UniversityFairfaxUSA
  2. 2.The Mercatus Center at George Mason UniversityArlingtonUSA

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-030-18416-2
  • Copyright Information The Editor(s) (if applicable) and The Author(s) 2019
  • Publisher Name Palgrave Macmillan, Cham
  • eBook Packages Economics and Finance
  • Print ISBN 978-3-030-18415-5
  • Online ISBN 978-3-030-18416-2
  • Buy this book on publisher's site