Developing moral capacities

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Chapter 14 in Neoliberal Social Justice, 2021, pp 156-170 from Edward Elgar Publishing

Abstract: Rawlsians contend that economic activity is not a significant site of moral development. Tomasi argues instead that choices made in economic life contribute to self-authorship. A weakness in Tomasi’s case is that responsible economic choices are rarely proportionately rewarded. Indeed, Hayek acknowledges that while market processes are socially beneficial they do not track desert on an individual level. Nevertheless, market activity plays an important role in developing the moral powers of citizens. Participation in commercial activities cultivate attitudes of mutual trust and respect in a way that is unique and necessary for developing moral powers. Although they need not be universally exercised, basic equal economic liberties need to be available to all. This case does not justify laissez-faire, but suggests that well-ordered societies should protect a substantial degree of commercial activity as part of the basic structure of social institutions.

Keywords: Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (2)

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