Conclusion: Old and New in “New Paternalism”

Cserne, Péter

doi:10.1057/9781137000323_6

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“…For example, many contend that repugnant transactions are coercive, exploitative, or involve an undue inducement (Wertheimer and Miller, 2008). More rarely (at least today) restrictions on repugnant exchange are justified as a means of preserving the moral worth of the parties to the exchange (Cserne, 2012). These objections fall under the general heading of paternalism, in the sense that they seek to protect the willing participants in these activities rather than prevent harm to third parties.…”

Section: Repugnance As An Objection To Marketsmentioning

confidence: 99%

Markets, repugnance, and externalities

Krawiec

2022

Journal of Institutional Economics

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This Article considers one aspect of the ongoing debate about the moral limits of markets – namely, the purported harmful effects of market transactions on particular relations, goods, services, or society at large, due to an inappropriate valuation. In other words, the argument is that some markets are ‘repugnant’ because they degrade and corrupt a variety of nonmarket values and relations, not just to the willing parties to the exchange, but to larger segments of society. This objection contains both a (frequently unacknowledged) empirical component and a moral component. This Article critiques these empirical claims on two grounds. First, market skeptics fail to provide evidence of the negative effects they hypothesize, despite widespread variation over time and across legal regimes. Second, these objections fail to account for the well-documented human tendency to fashion repugnant exchanges in a manner that reinforces – rather than undermines – deeply held values and relationships.

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Section: Repugnance As An Objection To Marketsmentioning

confidence: 99%

Markets, repugnance, and externalities

Krawiec

2022

Journal of Institutional Economics

View full text Add to dashboard Cite

show abstract

Conclusion: Old and New in “New Paternalism”

Cited by 1 publication

References 0 publications

Markets, repugnance, and externalities

Markets, repugnance, and externalities

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