WHEN ARE MARKETS ILLEGITIMATE?

IF 0.3 4区 哲学 Q4 ETHICS Social Philosophy & Policy Pub Date : 2020-12-01 DOI:10.1017/S0265052519000426
A. Greene
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引用次数: 2

Abstract

Abstract: In this essay I defend an alternative account of why markets are legitimate. I argue that markets have a raison d’être—a potential to be valuable that, if fulfilled, would justify their existence. I characterize this potential in terms of the goods that are promoted by the legal protection of economic agency: resource discretion, contribution esteem, wealth, diffusion of power, and freedom of association. I argue that market institutions deliver these goods without requiring the participants to have shared ends, or shared deliberation about joint ends—indeed, this feature is the source of the market’s distinctive contribution to well-being. I suggest that when markets lack legitimacy, this is because they fail to fulfill their raison d’être, or fail to be recognized as doing so. Thus, the contours of legal protection must be drawn so that these goods are realized together in a recognizable way, without sacrificing one good for the sake of others. Finally, I argue that this account is appealing because it allows regulators to consider a plurality of goods, and because it makes room for the essential role of rhetoric in securing market legitimacy.
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什么时候市场是非法的?
摘要:在这篇文章中,我为市场为何合法的另一种解释辩护。我认为,市场有潜力发挥价值的理由être-a,如果这个理由得到满足,它们就有理由存在。我用经济机构的法律保护所促进的商品来描述这种潜力:资源自由裁量权、贡献尊重、财富、权力扩散和结社自由。我认为,市场制度在提供这些商品时,并不要求参与者有共同的目的,或者对共同的目的有共同的考虑——事实上,这一特征正是市场对福祉的独特贡献的来源。我认为,当市场缺乏合法性时,这是因为它们没有实现自己être的理由,或者没有被认为是这样做的。因此,必须画出法律保护的轮廓,以便以一种可识别的方式实现这些利益,而不是为了其他利益而牺牲一种利益。最后,我认为这种解释之所以有吸引力,是因为它允许监管机构考虑多种商品,而且它为修辞在确保市场合法性方面发挥的重要作用腾出了空间。
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来源期刊
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期刊介绍: Social Philosophy and Policy is an interdisciplinary journal with an emphasis on the philosophical underpinnings of enduring social policy debates. The issues are thematic in format, examining a specific area of concern with contributions from scholars in different disciplines, especially philosophy, economics, political science and law. While not primarily a journal of policy prescriptions, some articles in each issue will typically connect theory with practice. The 2006 issues are "Justice and Global Politics" and "Taxation, Economic Prosperity, and Distributive Justice". The 2007 issues will be "Liberalism: Old and New" and "Ancient Greek Political Theory".
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