Do disruptions to the market process corrupt our morals?

Rosemarie Fike ()
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Rosemarie Fike: Texas Christian University

The Review of Austrian Economics, 2023, vol. 36, issue 1, No 7, 99-106

Abstract: Abstract Storr and Choi (2019) present ample evidence that the market process results in outcomes that can be considered “moral”, however they do not address the potential moral implications of policy interventions that place restrictions on the market process. This essay poses, and begins to answer, a related question: is it immoral to stand in the way of the market process? Insights from market process theory are used to explore this question and to identify four ways in which impediments to markets, and not markets themselves, have the potential to corrupt our moral character: 1. They prevent people from accessing the benefits markets have been shown to provide. 2. They create incentives that encourage people to practice behaviors that are considered immoral. 3. They prevent people from actively participating in the development of their own moral character. 4. They prevent us from discovering new social rules that are morally superior to the ones that currently exist.

Keywords: Market process; Morality; Doux commerce; B52; B53; P10 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s11138-022-00575-y

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