Morality of Markets

Author: Parth Shah
Editor(s): Parth Shah
Publisher: Academic Foundation
Year: 2004
Language: English
Pages: 358
ISBN/UPC (if available): 8171883664

Description

Morality of Markets presents a unique compilation of essays by distinguished economists, ethicists, and theologians that explores the moral and ethical foundations of the free market.

The book overwhelmingly supports the fundamental morality of markets and the general immorality of government interventions in capitalist acts among consenting adults. The notion that private property and market exchanges are inherently unjust is systematically disproved, both from the economic and philosophical perspective.

The essays comprehensively address critical issues ranging from the underlying ethics of voluntary exchange, morality in commerce and the corporation, the immorality of state intervention, and the role of markets in the teachings of major world religions.

Gurcharan Das in his foreword underscores the relevance of this approach: Our animus against capitalism may have diminished after communism's fall; increasingly, some Indians may also agree that markets do indeed deliver greater prosperity; but most Indians still think that capitalism is not a moral system.

Hence, this book is timely. We have already tasted significant benefits of competition in recent years; we have also experienced enough economic liberty for a decade to be more receptive to the ideas of this book.