Econintersect: Harvard Professor and Senior Fellow at INET (Institute for New Economic Thinking) Michael Sandel held a discussion at the Union Theological Seminary in New York late last year. He proposes that we have moved from a ‘market economy’ to a ‘market society’. The former is a structure where market forces govern the organization of economic activity. The later refers to a society where everything is for sale and privileges accrue only to those with money.
Does the question come down to: “Are there higher values than money?” Watch the discussion on the video and see if there are other questions here.
INET President Rob Johnson and Union Theological Seminary President Serene Jones participate in the discussion.
Prof. Sandel has written a book on the topic under discussion: What Money Can’t Buy: The Moral Limits of Markets.
Hat tip to Stephen Johnston who submitted this for discussion at the Global Economic Intersection discussion group on LinkedIn.