Michael Sandel’s What Money Can't Buy : The Moral Limits of Markets aims to awaken the public to the increasingly perverse role prices play in our lives. Everything appears to be up for sale. We appear to have moved from having a market to being a market. This triumphal encroachment of the price mechanism in every facet of life has been defended by its proponents as necessary for our “social good”. Sandel believes it’s precisely the opposite. Far from being neutral, as usually assumed by economists, prices corrupt the good things we value and care about in life. Reliance on prices diminishes social value hence the urgent need for everyone to take a step back and decide the moral limits of markets. For in doing so we are ultimately defining what society we want to live in. According to Sandel, the increasing reliance on the price mechanism could be socially tolerated if it was a true measure of value. Unfortunately not only is it broadly accepted that prices can be a poor ...
Thinking Deeply about Life and Faith