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American Economic Review: Vol. 101 No. 3 (May 2011)
AER Volume. 101, Issue 3 | 
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Markets and Morality
Article Citation
Bhagwati, Jagdish. 2011. "Markets and Morality."
American Economic Review,
101(3): 162-65.
DOI: 10.1257/aer.101.3.162
DOI: 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.
Article Full-Text Access
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Authors
Bhagwati, Jagdish (Council on Foreign Relations)
JEL Classifications
A13: Relation of Economics to Social Values
