What Money Can’t Buy; The Moral Limits of Market by Michael Sandel argues the relationship between markets and our morality. His central concern is the influence of money on the sphere of life traditionally governed by nonmarket norms such as rights as a citizen, care for others, and civic duties. He demonstrated that market is responsible for destroying our sense of morality by placing monetary value to it. This paper will argue the relationship between market and morality through demonstrating the type of goods corrupted by money, the flaws in the market system that causes such problems, and the political solution for this problem as suggested by Michael Sandel respectively.
Sandel argues, “almost everything can be bought and sold.” According to him, the market has extended beyond its traditional boundary to include our moral sphere. This includes healthcare, education, environmental protection, rights as citizens, rights for life, property ownerships, and many more. The triumph of capitalism after the Cold War had created unrivaled free market economy that has greatly improved our way of life. However, the unchecked power of the market forces blurred the line between market and social aspect of life. For Sandel, money is the root of the problem. He emphasized the market had become both unequal and corrupting.
Here are some disturbing examples on inequality given by Sandel,
• A non-violent prisoner can pay $90 a night in Santa Ana, California for a cleaner, quiet and safer prison cell,
• Western couples paying about $8000 to Indian surrogate mother because it is one-third cheaper than the rate in the U.S.,
• The rights to hunt a limited number of endangered black rhino for about $250,00 in South Africa,
• Admitting the childre...
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...e society, but the society may pay several costs in the process. This include, less available option, paying more for goods and services, and many more. Nevertheless, a public debate for such proposal would determine the future relationship between market and morality.
In conclusion, almost everything can be considered as commodity and tradable, but such practices must be stop to prevent the destruction of our sense of morality in relation to free market setting. Sandel proposals are realistic, but relied on public awareness on to gain support. We need free market economy to improve our livelihood, but we also must improve as a society. Hence, it is time for us pay greater attention to Sandel’s arguments and proposals for a better future.
Works Cited
Sandel, Michael J. What Money Can't Buy: The Moral Limits of Markets. New York: Farrar, Straus and Giroux, 2012.
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Mackay, Tim. "The Ethics Of The Wolf Of Wall Street." Charter 85.2 (2014): 67.Web. 23 Mar. 2014.
Wagner-Tsukamoto, S. 2007. Moral agency, profits and the firm: Economic revisions to the Friedman theorem. Journal of Business Ethics, 70, 209–220.
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Shaw, W. H., & Barry, V. (2011). Moral Issues in Business (Eleventh ed., pp. 230-244).