What Money Can’t Buy by Michael J. Sandel

Description

“What Money Can’t Buy: The Moral Limits of Markets” is a book written by Michael J. Sandel, a prominent political philosopher and professor at Harvard University. The book was published in 2012 and explores the moral and ethical implications of the increasing role of markets and market values in various aspects of society.

In “What Money Can’t Buy,” Sandel critically examines how market logic and economic thinking have come to influence areas traditionally governed by non-market values and social norms. He raises questions about the commodification of goods and services that were once considered beyond the realm of markets and money.

The book covers a wide range of examples, including:

1. Commercialization of public spaces: The selling of naming rights for public parks, stadiums, and other public facilities, raising questions about the impact on civic identity and the public good.
2. Auctioning of life-saving resources: The use of market mechanisms to allocate organs for transplant, sparking debates about fairness, equity, and the implications of assigning value to human life.
3. Market incentives in education and healthcare: The introduction of financial rewards for students’ academic achievements or for patients’ compliance with medical treatments, prompting discussions about the moral consequences of incentivizing certain behaviors.
4. Trading pollution rights: The practice of cap-and-trade systems to address environmental issues, which raises concerns about putting a price on natural resources and pollution.

Sandel argues that market-driven thinking can lead to moral corruption and diminish the intrinsic value of goods and human experiences. He challenges the idea that everything can be assigned a price and highlights the importance of preserving certain moral and social norms that are not appropriately governed by market forces.

Through thought-provoking examples and engaging discussions, “What Money Can’t Buy” encourages readers to reevaluate the role of markets in shaping societal values and to consider the ethical dimensions of market-driven decision-making.

The book has been well-received and has sparked widespread public and academic discussions about the relationship between markets, ethics, and social values. It serves as a significant contribution to the ongoing discourse on the appropriate boundaries and limits of market influences in contemporary society.