W2- Noxious Markets Sandel/ Satz

Question 1

Fairness objection

Answer 1

some markets are grounded on inequalities; “injustices can arise when people buy and sell things under conditions of inequality or dire economic necessity”

Question 2

Corruption objection

Answer 2

Commodifying certain practices displaces the attitudes and virtues (e.g. generosity) that give value to those practices

Question 3

Fairness objection 2 concerns

Answer 3

1. Some things should be allocated / distributed on the basis of need merit or ability, not on the basis of wealth
2. In a society where everything is for sale. Vendors or sellers aren’t acting autonomously
   Eg if someone sells a kidney to feed starving family – has he acted freely?

Question 4

Sandel argument

Answer 4

• Markets prey upon the poor whose choice to sell organs may not be truly voluntary
• Highlights that injustice can arise when people buy + sell things under conditions of inequality
- commodifying a good or service can risk regrading its meaning

Question 5

Objections to fairness principle

Answer 5

• Fairness principle only works if socio-entomic conditions are unfair. This principle no legs to stand on if conditions are ok.

Question 6

Noxious markets

Answer 6

markets that are repugnant, vile or significantly compromise agency are morally objectionable According to Satz, markets will have differ in degrees of noxious

Question 7

Commodification

Answer 7

the process of transforming a good or activity into a commodity available on the market

Question 8

Weak agency (asymmetric knowledge):

Answer 8

involves lacking information and also limited decision making with respect to the market not having sufficient information to know what market/ conditions you are entering

Question 9

4 conditions that make a noxious market

Answer 9

1) Outcome (consequences of a noxious market): Extreme harm to participants
2) Outcome: extreme harm to society
3) Source [of a noxious market]: Some markets are characterized by a very weak agency or highly asymmetric knowledge + agency on the part of market participants
4) Source: Markets involve participants with underlying extreme vulnerabilities

Question 10

Satz’ Argument

Answer 10

Some markets are noxious need to be blocked / severely constrained if the parities are to be equals in a particular sense (ie citizens in democracy).

Question 11

Objections to satz

Answer 11

1) just bc a market is noxious doesn’t mean it should be banned- can make it worse e.g. black market organs
2) Many markets are noxious only in a given context instead of changing the market, the context should be changed
3) Safety legislation better than ban

Question 12

Rebuttal of objections

Answer 12

Some markets are incompatible with securing the equality status of individuals and / or in a democracy of equal citizens should be prohibited.
Other markets require regulation including redistribution of income + property.