What Money Can't Buy: The Moral Limits of Markets

By Michael J. Sandel. 2012

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Artificial Intelligence, Values, and Alignment (2020, background): “Many things have value that is not captured by markets, or that is priced in ways that are obviously distorted (Satz, 2010; Sandel, 2012).”
Taming a Wicked Problem: Resolving Controversies in Biodiversity Offsetting (2016, background): “7 basis on which decisions are made (Sandel 2012).”
Transforming Consumption: From Decoupling, to Behavior Change, to System Changes for Sustainable Consumption (2015, background): “Shareholders demand proﬁt-optimizing, risk-minimizing strategies, even if they require externalizing r s it o f costs (3). n i v C a li”
Food as Commons or Commodity? Exploring the Links between Normative Valuations and Agency in Food Transition (2017, background): “- COMMODIFICATION AS A MAJOR CAUSE OF THIS CRISIS The conversion of goods and activities into commodities has been a dominant force transforming all societies since at least the mid-nineteenth century [75-77], a process that has led to today’s dominant industrial system that fully controls internati”
The Green Economy and Sustainable Development: An Uneasy Balance? (2013, background): “…raising very fundamental questions about the link between growth, inclusiveness, and justice [Jasanoff, 2002; Morrissey, 2012; OECD, 2008; 2011a; Sandel, 2012; Wilkinson and Pickett, 2009; see also The Economist (2012) for an overview], this statement is a testament to the tensions of…”
The design of environmental markets: What have we learned from experience with cap and trade? (2017, background): “…user on 06 November 2017 Today, although arguments are still made about the ethics of tradable rights to emit pollutants (Caney and Hepburn, 2011; Sandel, 2012), throughout nearly all of academia and across much of the policy community the cap-and-trade approach has become accepted as a…”
Toward a theory of business (2015, background): “As Sandel (2012, 2013) recently observed, a preoccupation with a narrow set of values will have the cumulative effect of crowding out consideration of the kinds of intrinsic values we consider here.”
The Community of Advantage (2018, methodology): “Building on Sugden (2004) and on work I have done with Ben McQuillin (McQuillin & Sugden, 2012), I propose an Interactive Opportunity Criterion which (roughly speaking) says that individuals collectively should have as much opportunity as possible to carry out whatever voluntary transactions they mi”
What is capital? Economists and sociologists have changed its meaning: should it be changed back? (2014, background): “There many things – like love, trust and honour – that cannot be readily traded, and do not have a meaningful or appropriate price (Fox 1974, Walzer 1983, Ellerman 1992, Satz 2010, Sandel 2012).”
Obfuscatory Relational Work and Disreputable Exchange (2014, background): “…of sacred for profane appears in many discussions of exchange taboos, under such names as “disparate relational models,” “market inalienability,” “corruption,” “intrusions” of goods across “spheres,” or “hostile worlds” (Fiske and Tetlock 1997; Krawiec 2009; Sandel 2000; Walzer 1983; Zelizer 2000).”
Striving for balance in economics : towards a theory of the social determination of behavior (2016, positive): “As Sandel (2012) oints out, charging a fee (or imposing a fine) converted a social obligation not to be late into a conventional market exchange. he fine led to responses that were different from those anticipated (and predicted by the standard economic model): the ne increased the fraction of…”
Climate change and sustainable welfare: the centrality of human needs (2015, background): “It has been claimed, for example, that extending markets into more and more areas of life encourages the very self-interested behaviour assumed by welfare economic theory (Sandel, 2012).”