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- Title
Editorial: morality, responsibility and the marketplace.
- Authors
Booth, Philip
- Abstract
This article looks into the moral justification of the market economy. Market economists are somehow successful in exposing the failures of central planning. However, as times pass by the intellectual ground shifted. Currently the politicians and economists view marketplace as a ground for prosperity. Most people also look at the market place as an opportunity for wealth. To further elaborate the sudden shift of interests of most economists to the marketplace, the author provided the reasons behind the blind spots of the economists. The other main strands of thinking in this article relate to the modes of behavior that are necessary to make a market economy work well and the moral requirements of actors in the market. The author provided some elements for the market economy to function well.
- Subjects
MARKETPLACES; ETHICS; CENTRAL economic planning; CAPITALISM; POLITICAL doctrines; ECONOMIC development; CAPITALIST societies
- Publication
Economic Affairs, 2004, Vol 24, Issue 2, p2
- ISSN
0265-0665
- Publication type
Editorial
- DOI
10.1111/j.1468-0270.2004.00465.x