Markets and Morality

Authors

Jagdish N. Bhagwati, Columbia Law SchoolFollow

Document Type

Article

Publication Date

2011

DOI

https://doi.org/10.1257/aer.101.3.162

Abstract

The paper addresses two issues. First, economics has evolved both as a positive science and, from moral philosophy, also as a normative discipline. Advancing the public good requires that public policy walk on both these legs. Second, the criticism has been forcefully made that markets undermine morality. This contention is refuted in several ways.

Disciplines

Economics | Law | Law and Economics

Comments

Copyright © 2011 by the American Economic Association.

Recommended Citation

Jagdish N. Bhagwati, Markets and Morality, 101 Am. Econ. Rev. 162 (2011).
Available at: https://scholarship.law.columbia.edu/faculty_scholarship/3021