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Summary

The author analyzes the concept of market order and its relationship to morality, inspired by a scene from the film Wall Street. Two questions are posed: (1) Does a market order exist, or is the market a territory dominated by entrepreneurial predators enforcing their own rules? (2) If a market order exists, what role does morality play in it? The author distinguishes between the sphere of legal rules and normative regulation of behavior through morals. The paper explores the nature of market order, presenting two opposing conceptions: the market as a consciously organized activity and the market as an unconsciously coordinated activity, described by Hayek as "spontaneous order." The author also examines the relevance of moral norms in the market order, considering the fact that moral choice requires additional costs, and in a morally damaged community, those who act morally are often disadvantaged.

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Description

The author analyzes the concept of market order and its relationship to morality, inspired by a scene from the film Wall Street.

Technical Information

  • File Format: PDF
  • File Size: 1.97 MB
  • Pages: 8
  • Language: EN
  • Total Downloads: 72
  • Last Updated: 9 hours ago

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