A distinctive feature of modern capitalist societies is the tendency of the market to take over the production, maintenance, and distribution of goods that were previously produced, maintained, and distributed by nonmarket means. Yet, there is a wide range of disagreement regarding the proper extent of the market in providing many goods. Labor has been treated as a commodity since the advent of capitalism, but not without significant and continuing challenges to this arrangement. Other goods whose production for and distribution (...) on the market are currently the subject of dispute include sexual intercourse, human blood, and human body parts such as kidneys. How can we determine which goods are properly subjects of market transactions and which are not? The purpose of this article is to propose a theory of what makes economic goods differ from other kinds of goods, which can help to answer this question. (shrink)

This book originated as lectures for a course on political philosophy that Rawls taught regularly at Harvard in the 1980s.

MacIntyre’s theory of practices, institutions, and their respective kinds of goods, has revived and enriched the ethical critique of market economies, and his view of politics as centrally concerned with common goods and human flourishing presents a major challenge to neutralist liberal theorists’ attempts to exclude distinctively ethical considerations from political deliberation. However, the rejection of neutrality does not entail the rejection of liberalism tout court: questions of human flourishing may be accorded a legitimate role in political decisions-including those about (...) economic systems - provided that the powers of the state remain subject to certain recognizably liberal constraints. Further, although neutralist liberals often defend market economies on the mistaken grounds that they alone are consistent with the principle of ethical neutrality, a non-neutralist defence of them should not be ruled out, especially if the substantive theory of goods used to evaluate them is somewhat less restrictive than MacIntyre’s. (shrink)

Should perfectionist ideals of meaningful work play a significant part in the design of economic systems? In an influential article (Meaningful Work and Market Socialism), Richard Arneson rejected this traditional socialist view. Instead, he maintained, it should be left to the market, as a system that is consistent with the principle of neutrality, to determine the extent to which such work is available, and socialists should restrict their normative concerns primarily to issues of distributive justice. Against this it is argued (...) here that market economies appear to be neutral only if understood in neo-classical, rather than institutionalist terms. From the latter perspective, market economies can be shown to take a number of institutionally distinct forms, which differ significantly in how far they favour the satisfaction of preferences for meaningful work. Collective choices between these alternative systems should take account of these differences, and the adoption of market economies does not avoid the need for perfectionist judgments in politics. (shrink)