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What Money Can't Buy: The Moral Limits of Markets, by Michael J. Sandel
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A renowned political philosopher rethinks the role that markets and money should play in our society
Should we pay children to read books or to get good grades? Should we put a price on human life to decide how much pollution to allow? Is it ethical to pay people to test risky new drugs or to donate their organs? What about hiring mercenaries to fight our wars, outsourcing inmates to for-profit prisons, auctioning admission to elite universities, or selling citizenship to immigrants willing to pay?
In his New York Times bestseller What Money Can't Buy, Michael J. Sandel takes up one of the biggest ethical questions of our time: Isn't there something wrong with a world in which everything is for sale? If so, how can we prevent market values from reaching into spheres of life where they don't belong? What are the moral limits of markets?
In recent decades, market values have crowded out nonmarket norms in almost every aspect of life. Without quite realizing it, Sandel argues, we have drifted from having a market economy to being a market society.
In Justice, an international bestseller, Sandel showed himself to be a master at illuminating, with clarity and verve, the hard moral questions we confront in our everyday lives. Now, in What Money Can't Buy, he provokes a debate that's been missing in our market-driven age: What is the proper role of markets in a democratic society, and how can we protect the moral and civic goods that markets do not honor and money cannot buy?
- Sales Rank: #35106 in Books
- Published on: 2013-04-02
- Released on: 2013-04-02
- Original language: English
- Number of items: 1
- Dimensions: 8.12" h x .68" w x 5.46" l, .47 pounds
- Binding: Paperback
- 256 pages
From Bookforum
Sandel's world seems to be firmly divided between God and Mammom; in return for evicting the marketeers from the areas he holds sacred, he is prepared to grant them ruling powers over all the others. — Andrew Ross
Review
“Michael Sandel's What Money Can't Buy is a great book and I recommend every economist to read it, even though we are not really his target audience. The book is pitched at a much wider audience of concerned citizens. But it taps into a rich seam of discontent about the discipline of economics.... The book is brimming with interesting examples which make you think.... I read this book cover-to-cover in less than 48 hours. And I have written more marginal notes than for any book I have read in a long time.” ―Timothy Besley, Journal of Economic Literature
“Provocative. . . What Money Can't Buy [is] an engaging, compelling read, consistently unsettling and occasionally unnerving. . . [It] deserves a wide readership.” ―David M. Kennedy, Democracy
“Brilliant, easily readable, beautifully delivered and often funny. . . an indispensable book on the relationship between morality and economics.” ―David Aaronovitch, The Times (London)
“Sandel is probably the world's most relevant living philosopher.” ―Michael Fitzgerald, Newsweek
“In a culture mesmerized by the market, Sandel's is the indispensable voice of reason…. What Money Can't Buy. . . must surely be one of the most important exercises in public philosophy in many years.” ―John Gray, New Statesman
“[An] important book. . . Michael Sandel is just the right person to get to the bottom of the tangle of moral damage that is being done by markets to our values.” ―Jeremy Waldron, The New York Review of Books
“The most famous teacher of philosophy in the world, [has] shown that it is possible to take philosophy into the public square without insulting the public's intelligence. . .[He] is trying to force open a space for a discourse on civic virtue that he believes has been abandoned by both left and right.” ―Michael Ignatieff, The New Republic
“[Sandel]is such a gentle critic that he merely asks us to open our eyes. . . Yet What Money Can't Buy makes it clear that market morality is an exceptionally thin wedge. . . Sandel is pointing out. . . [a] quite profound change in society.” ―Jonathan V. Last, The Wall Street Journal
“What Money Can't Buy is the work of a truly public philosopher. . . [It] recalls John Kenneth Galbraith's influential 1958 book, The Affluent Society. . .Galbraith lamented the impoverishment of the public square. Sandel worries about its abandonment--or, more precisely, its desertion by the more fortunate and capable among us. . .[A]n engaging, compelling read, consistently unsettling. . . it reminds us how easy it is to slip into a purely material calculus about the meaning of life and the means we adopt in pursuit of happiness.” ―David M. Kennedy, Democracy: A Journal of Ideas
“[Sandel] is currently the most effective communicator of ideas in English.” ―The Guardian
“Michael Sandel is probably the most popular political philosopher of his generation. . .The attention Sandel enjoys is more akin to a stadium-filling self-help guru than a philosopher. But rather than instructing his audiences to maximize earning power or balance their chakras, he challenges them to address fundamental questions about how society is organized. . . His new book [What Money Can't Buy] offers an eloquent argument for morality in public life.” ―Andrew Anthony, The Observer (London)
“What Money Can't Buy is replete with examples of what money can, in fact, buy. . . Sandel has a genius for showing why such changes are deeply important.” ―Martin Sandbu, Financial Times
“One of the leading political thinkers of our time…. Sandel's new book is What Money Can't Buy: The Moral Limits of Markets, and I recommend it highly. It's a powerful indictment of the market society we have become, where virtually everything has a price.” ―Michael Tomasky, The Daily Beast
“To understand the importance of [Sandel's] purpose, you first have to grasp the full extent of the triumph achieved by market thinking in economics, and the extent to which that thinking has spread to other domains. This school sees economics as a discipline that has nothing to do with morality, and is instead the study of incentives, considered in an ethical vacuum. Sandel's book is, in its calm way, an all-out assault on that idea…. Let's hope that What Money Can't Buy, by being so patient and so accumulative in its argument and its examples, marks a permanent shift in these debates.” ―John Lancaster, The Guardian
“Sandel is among the leading public intellectuals of the age. He writes clearly and concisely in prose that neither oversimplifies nor obfuscates…. Sandel asks the crucial question of our time: ‘Do we want a society where everything is up for sale? Or are there certain moral and civic goods that markets do not honor and money cannot buy?'” ―Douglas Bell, The Globe and Mail (Toronto)
“Deeply provocative and intellectually suggestive…. What Sandel does…is to prod us into asking whether we have any reason for drawing a line between what is and what isn't exchangeable, what can't be reduced to commodity terms…. [A] wake-up call to recognize our desperate need to rediscover some intelligible way of talking about humanity.” ―Rowan Williams, Prospect
“There is no more fundamental question we face than how to best preserve the common good and build strong communities that benefit everyone. Sandel's book is an excellent starting place for that dialogue.” ―Kevin J. Hamilton, The Seattle Times
“Poring through Harvard philosopher Michael Sandel's new book. . . I found myself over and over again turning pages and saying, 'I had no idea.' I had no idea that in the year 2000, 'a Russian rocket emblazoned with a giant Pizza Hut logo carried advertising into outer space.'. . . I knew that stadiums are now named for corporations, but had no idea that now 'even sliding into home is a corporate-sponsored event.'. . . I had no idea that in 2001 an elementary school in New Jersey became America's first public school 'to sell naming rights to a corporate sponsor.' Why worry about this trend? Because, Sandel argues, market values are crowding out civic practices.” ―Thomas Friedman, New York Times
“An exquisitely reasoned, skillfully written treatise on big issues of everyday life.” ―Kirkus Reviews (starred review)
“In his new book, Michael Sandel --the closest the world of political philosophy comes to a celebrity -- argues that we now live in a society where ‘almost everything can be bought and sold.' As markets have infiltrated more parts of life, Sandel believes we have shifted from a market economy to ‘a market society,' turning the world -- and most of us in it -- into commodities. And when Sandel proselytizes, the world listens…. Sandel's ideas could hardly be more timely.” ―Rosamund Urwin, Evening Standard (London)
About the Author
Michael J. Sandel is the Anne T. and Robert M. Bass Professor of Government at Harvard University. His work has been the subject of television series on PBS and the BBC. His recent books include the New York Times bestseller Justice: What's the Right Thing to Do?.
Most helpful customer reviews
4 of 4 people found the following review helpful.
A well written explanation of why you should be stopped from spending your own money
By Philosophy G.A.
Michael Sandel's book What Money Can't Buy: The Moral Limits of Markets demonstrates a fundamental misunderstanding of markets and either a misunderstanding of market arguments, or an unfamiliarity with the breadth of such arguments. It further shows an over reliance on his own idea of virtue ethics and an Aristotelian paternalism which is incredibly objectionable.
I purchased the book for a graduate school course and, as a read, it's very easy - though I did use audio book as well - so long as you can stomach the arguments. The things that he addresses, he addresses well, but his implicit assumption that the state must exist and equally implicit assertion that it must make people moral is laughable considering that neither of the two points is addressed. If the book was purely concerning moral theory, it would be a wonderful treatise on living "the good life". How it is written, however, is "You're going to live what I term to be 'the good life' whether you like it or not."
He further ignores the idea of treating people and their contributions to society well, opting instead to vilify those who make large sums of money and champion the poor as titans of virtue and proper valuation, claiming in many places that money cheapens the value of things. Though he dusts over the idea that it is people's minds and attitudes which must change in order to get to the moral society he desires while discussing paying students for achievement, the idea never returns and he advocates using the state to force compliance with his moral code - while decrying the same practice by parents, claiming that it stunts moral education.
All in all, after Justice and this book, I am largely unimpressed with Sandel as a political philosopher due to the fact that the only explicitly political questions that he deals in, he treats as assumptions, and then attempts to work out how such assumptions are aligned.
0 of 0 people found the following review helpful.
Awesome!
By Jeffery L Irvin Jr
Sandel is a wonderful author, and you can tell by the way he writes that he is a wonderful teacher in the classroom.
I can recommend this book along with his previous book, "Justice: What's the Right Thing to Do?"
These books offer no easy or ready-made answers. Instead, they invite us to reflect on moral and ethical dilemmas, and how we humans try to deal with them.
The bottom line is that morality, just like anything else in this universe, cannot violate the first law of thermodynamics. We live in a relatively closed system as a society and so decisions--political, moral, or economic--all require a knowledge of what we must give before we get.
In his latest book Sandel asks us to consider what we are giving up when we try to put a market price on everything in life.
Oscar Wilde once defined the cynic as a man who knows the price of everything but the value of nothing. I believe that Sandel is trying to warn us against becoming a completely cynical society, a society that looks at everything through the filter of an account ledger, blinding ourselves to all the other ways in which we should relate to one another in a society.
Read this book! You will be glad you did.
0 of 0 people found the following review helpful.
what's your value?
By Reid Mccormick
Recently, economics has found itself in the most unlikely places. Baseball is probably the best example of this. What used to be a sport of guts and instincts, baseball is now a sport where every microscopic detail is studied and valued.
And in a nutshell that is exactly what economics is, finding value. Professor Mark Sandel explores the idea of value in his book What Money Can’t Buy. Are there certain things in life that should not have a price tag? If so, why do certain things warrant no price while others do? Does pricing an item devalue it?
The ethical inquiry has been slow compared to hurried excitement over popular economics over the past couple of decades. There has been creation of new tools, processes, and market goods but there has been little examination of the morals behind each new innovation.
This book is extremely interesting, even though I felt like Sandel kept repeating the question with different scenarios.
In the end, he (and probably all his readers) agree that there is some moral limitation to the markets yet knowing them ahead of time may be a bit more difficult than we thought.
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