Michael Sandel's Criticism Of Markets

We live in an era where markets pervade every aspect of our life. Markets exist to facilitate the exchange of goods and service between people, so that markets ultimately serve to transfer goods and services. It is certainly true that the commodification of all aspects of society is an increasingly worrisome trend since everything that is traded must be priced in some way. Markets are not only a means for distributing goods and services, that they also shape our culture, foster or impede the development of human capacities, and sustain or undermine valuable forms of human relationship. Therefore, morality of the market is important as it is in a free society nowadays. The major strength of political philosopher Michael Sandel’s criticisms is …show more content…
I think Sandel 's own response is perfectly accurate because it is not a question of markets good or bad. It is about some things money can’t buy, and things shouldn’t actually be bought and sold in markets; also, moral boundaries should constrain market forces. First of all, in today 's society, people seek to make more money and grow their wealth, but even the richest people aren 't happy. Therefore, money is not the ultimate solutions, and many things that money can’t buy. Rules of the market simply do not apply to friendships, true love, Nobel prizes, and many other areas of life such as respect, time, or happiness. Money may destroy thing it is intended to buy. Friendship is a priceless and value gift, it is also worth infinitely more than money. Thus, it cannot be bought or sold. As Sandel points out, we all understand that if I pay you money to spend time with me, we are not friends. Also, it cannot buy love. Love has to be given freely from one person to another and must be based on …show more content…
However, there are many things money can’t buy and shouldn’t buy in markets, so moral boundaries should compel market forces since it makes better communal lives. I believe that Sandel is right to worry about the cost to the communities of reducing everything to a price and cultural consequences of markets because it is unfair , corruption, and degrading values of goods. If money is the necessary means to obtaining certain goods, or a certain quality of goods, then the poor will be systematically disadvantaged in the marketplace. In addition, it is hard to deny some moral value to the market because no social system can survive for long without a moral basis. Valuing certain goods in money terms can corrupt their nature by depriving them of some essential dignity. Moral and ethical position that would hold eternal human values like sharing, caring, gifting, relationship, and generosity which money cannot buy. Once we understand the way markets and morality influence one another, we can try to develop strategies to help the markets promote the values we hold precious, and change practices that are inconsistent with our