While moral arguments for limiting market expansionism proliferate, a fundamental question has been left unanswered: the moral limits of what, exactly? Moral Limits of Markets (MLM) theorists tend to employ different terms – markets, putting a price tag, buying and selling – interchangeably and inconsistently to describe the phenomenon they are troubled by. I clarify this ambiguity by offering a novel taxonomy of different dimensions of exchange I identify as the sources of the normative concerns of most MLM arguments: Alienation, (...) Commodification, Marketization, Privatization. This taxonomy allows us to better understand why and what about ‘markets’ should be limited. (shrink)

Judging on the basis of standard accounts of commodification, one might reasonably suggest that liberalism intrinsically lacks an adequate theory of commodification. Liberalism, with its commitment to individual choice and to neutrality as regards competing evaluation practices, seems conceptually incapable of identifying or abolishing many significant forms of commodification. This essay aims to refute this claim. It employs a strategy of appealing to the harm principle as grounds for a liberal anti-commodification theory. I claim that we are harmed when we (...) are denied ways to meaningfully engage in certain evaluative practices, ways that depend on evaluations shared with others with whom we stand in meaningful social relationships. Markets can crowd out these shared evaluations, and to this extent cause us psychological harm; this in turn supplies grounds for restrictions on certain markets within a liberal state. (shrink)