lecture 7/8 the limits of markets

Question 2

markets are great

Answer 2

they are efficient, self-regulated, promoting freedom and individual utility/preferences while organizing spontaneously knowledge

Market should be minimally regulated

Question 3

Markets are not great

Answer 3

self-interest can have bad consequences

They promote inequality and corrpt value

markets should be regulated

Question 4

Commodification: what you need to know

Answer 4

some things are inherently wronge – there is something about the act itself that makes it wrong

other thigns are incedentally wronge: there is something about the circumstances surrounding the act that makes it wrong

Question 5

if it is permissable to acquire something for free

Answer 5

it is permissible to buy it

Question 6

commodification (what you need to know satz)

Answer 6

is related to sandels view on marketization, but she is more concerned about unfairness than about corruption

In that sense, although she does not say it with those words, satz things that buying and selling certain things is inherently wrong, and thus there is something morally wrong with certain markets (not ust with the actual product or service)