video Michael sandal

Question 1

what did Michael suggests in the video

Answer 1

we’ve shifted from a market economy (where markers are tools for organizing products activities) to a market society, where nearly everything is up for sale

Question 2

2 problems with market societies

Answer 2

1. inequality issues: money becomes essential for a good life with decent healthcare, quality education and political influence
2. unethical cash incentives: it can change the meaning of social goods and undermine important values (offering money to motivate students in school might reduce intrinsic motivation to learn for personal growth

Question 3

what is the view of economists when it comes to goods (and where Michael doesn’t agree with)

Answer 3

markets are neutral, they don’t change the goods they exchange

Question 4

Michael doesn’t agree with the markets are neutral statement, why

Answer 4

1. Change the character of goods: education becoming a commodity rather than public good
2. Undermine moral and civic values: prioritizing profits over fairness

Question 5

what is the point of the video of Sandal, he wants us to think about …

Answer 5

we have to think about how we want to live together: * Do we want a society where everything is for sale, or are there certain moral and civic goods that money and markets shouldn’t touch?