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Of Fair Markets and Distributive Justice

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Abstract

The authors argue that a free market paradigm facilitates wealth creation but does little to distribute that wealth in a just manner. In order to achieve the social goal of distributive justice, the concept of a fair market is introduced and explored. The authors then examine three drivers that can help improve the lives of all people, especially the poor: civil society, its institutions, and business. After exploring the roles these drivers might play in developing fair markets, we describe three enablers that serve as catalysts for change: the effects of globalization, the impact of technology, and the emergence of entrepreneurial activity. We conclude by making recommendations for establishing fair markets and provide exemplars of two firms that embody the arguments made in the article.

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Notes

  1. Although Locke could easily have conceived the earth providing “enough and as good” for everyone at the time of his writing, world population growth has made this assumption much less fitting. Thus, this limitation would appear to be even more important now than it was in 1690; accumulating more than one can use in a time of surplus is one thing—doing so in times of scarcity has even greater moral ramifications.

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Authors and Affiliations

  1. Fairfield University, 1073 North Benson Road, Fairfield, CT, 06824-5195, USA

    Mukesh Sud

  2. Augustana College, 639 38th Street, Rock Island, IL, 61201-2296, USA

    Craig V. VanSandt

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  1. Mukesh Sud
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  2. Craig V. VanSandt
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Correspondence to Craig V. VanSandt.

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Sud, M., VanSandt, C.V. Of Fair Markets and Distributive Justice. J Bus Ethics 99 (Suppl 1), 131–142 (2011). https://doi.org/10.1007/s10551-012-1230-9

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