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Wednesday, 15 February 2017
Essay on market thinking
Description:
This module has exposed you to the many of the foundational ideas of liberalism as well as capitalism as an ideology from Adam Smith in the 18th Century to 20th Century thinkers such as Milton Freeman and Ayn Rand. Michael Sandel revives Adam Smith"s ideas overlooked by thinkers such as Freeman and Rand: morality is not just about free markets, strong institutions, rational self-interest, and atomized individual choice aggregation; but a more robust form of rational self interest which is tied to a communitarian moral obligation.
Watch Michael Sandel"s discussion, "The Moral Limits of Markets",
Write an essay addressing what you believe to be the moral limits of market thinking. Define them. In other words, I am forcing YOU to articulate those moral boundaries where we apply a cost benefit analysis to economic, social and political questions.
Other related points that might help you to make your argument are:
What are markets designed to do? How have 20th century thinkers applied market thinking to all aspects of human behavior. What are the problems with this thinking?
Be sure to acknowledge and discuss the major contributors of Liberal thought, applicable to the assumptions of economic liberals that argue markets provide all of the necessary solutions to social life AS WELL AS as those that you may use to set the boundaries of the moral limits of markets. What might Adam Smith contribute to the conversation if he were to weigh in on the arguments?
Justify your arguments by citing specific elements of the course material as evidence for your argument. In other words, your supporting information should be accurate and from the class material; don"t go out on the web and pull something in!
Some of of the sources include
- https://www.youtube.com/watch?v=pOksHxsR_2w
- Adam Smith lecture 2014 but Michael Sundel (YouTube)
-theory of moral sentiments
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