Morals and Markets

The main goal of this course is to present the debates surrounding the moral (normative) evaluation of markets. We will also discuss ways in which markets shape our conception of morality. In the first segment of the course we will investigate classical perspectives on the market as either a beneficial or destructive force. Next, we will focus on the moral obligations of economic institutions towards society. Is there such a thing as a corporate social responsibility? In the third part, we will try to understand the effects of market mechanisms within specific institutions. For example, is effort in the workplace primarily motivated by financial incentives? Finally, we will analyze how the moral limits of markets are constructed. What are acceptable items for market exchange? Should a child, an organ, or the right to pollute be allowed for trade? We will also try to understand historical and geographical variation in the moral limits of markets.

Number of credits: 12