Private Law Theory

ABSTRACT
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.

Agmon, Shai, The Moral Limits of What, Exactly? (September 12, 2024). Economics and Philosophy, 0, 2024 [10.1017/S0266267124000191].