These days, there are very few things that money can’t buy. Market values and market reasoning no longer govern material goods but increasingly reach into nearly every sphere of one’s life – health, education, civic life, family life, etc. But where should money govern?
Michael Sandel, Harvard professor and author of the new book, What Money Can’t Buy: The Moral Limits of Markets, discusses below. Watch:
“What should be the role of money and markets? That’s really the question,” Sandel said. “All of us need to debate … where markets serve the public good and where they don’t belong.”
Take the 2008 financial crisis, for example. “I think everyone thought at the time that markets and morals had become detached from one another, and that now would be a moment of moral reckoning – a proper debate about the role of moral markets,” Sandel said. “But that hasn’t really happened.”
“I think this is the great missing debate in our public life: What should be the proper role of markets and economic reasoning?”
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