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Dollars and Moral Sense: What Money Can't Buy

There's more to life than relationships of economic exchange.
What Money Can't Buy: The Moral Limits of Markets
our rating
5 Stars - Masterpiece
Book Title
What Money Can't Buy: The Moral Limits of Markets
Author
Michael J. Sandel
Publisher
Farrar, Straus and Giroux
Release Date
April 24, 2012
Pages
256
Price
$18.61

As a professor at a Christian university, I wince when I hear students referred to as "customers." Administrators, policymakers, and, at times, even students themselves resort to seeing the relationship I share with young people as one of economic exchange. In essence, my students (or, more likely, their parents) pay tuition, and I draw a salary. As a result, I am obligated to provide them with specific forms of instruction.

Why should I react so negatively to this way of thinking? Is it merely a matter of professional pride? Or does my uneasiness flow from deep convictions about the relationship I am called to share with my students?

In What Money Can't Buy: The Moral Limits of Markets (Farrar, Straus and Giroux), Harvard government professor Michael J. Sandel helpfully warns against conceiving human life in purely economic terms. Sandel specializes in accessibly written treatises on weighty matters of morality and ethics, like his most recent best seller, Justice: What's the Right Thing to Do?, which was based on his popular classroom lecture series. (He also hosts a PBS and BBC series bearing the same name.)

What Money Can't Buy furthers Sandel's reputation as a great public intellectual. The book diagnoses the many ways money and economic logic define ever-increasing segments of our lives. Sandel's point is not that markets are inherently evil. He simply asks "whether market norms will crowd out nonmarket norms, and if so, whether this represents a loss worth caring about."

As with Justice, What Money Can't Buy introduces a host of case studies meant to stimulate moral reflection. Sandel's five chapters explore questions ranging from gift giving, to naming rights, to the inherent value of standing in line. One case study invokes Pope Benedict XVI's 2008 Yankee Stadium Mass to illuminate moral boundaries to profit-seeking: Free tickets to the Mass were offered through parish churches on a first-come, first-served basis, but scalpers obtained a number of these tickets and began charging as much as $200 apiece. As Sandel concludes, "Turning sacred goods into instruments of profit values them in the wrong way."

Human beings, of course, have long assigned monetary value to goods that ought to defy such classification. (Consider prostitution—the world's "oldest profession.") Sandel argues, however, that American society has witnessed a rapid acceleration in this pattern over the last 30 years. He pins the blame on a political culture that "is mostly vacant, empty of moral and spiritual content." Lacking the tools of moral discernment to make more profound assessments of value, we allow the almighty dollar to come to our rescue. The appeal of marketplace logic, says Sandel, is that "markets don't wag fingers. They don't discriminate between admirable preferences and base ones."

Theoretically, the forces of supply and demand could determine the price of admission to a papal Mass as fluidly as they determine the price of admission to a Yankees game. But whatever dollar value the market might establish, it cannot help understating the genuine value of sacred fellowship.


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Marta Layton

May 15, 2012  9:13pm

I'm not quite sure what Mr. McKinney's purpose is, except perhaps to slander Dr. Sandel. This is precisely Dr. Sandel's point: that the markets CAN'T address every need and that there is more to value than what the market will bear. While I haven't read this latest book, I quite liked _Justice_ (I teach it to my philosophical ethics courses at a Jesuit school, and recommend his lectures at http://www.justiceharvard.com/). While Dr. Sandel isn't addressing a specifically Christian audience, his teachings on all the different theories of justice is quite eye-opening - and can only help a culture saturated with relativism see that right/wrong and justice isn't a matter of personal opinion.

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Ram Prakash

May 10, 2012  6:16am

good one

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Roger McKinney

May 08, 2012  12:11pm

Sandel uses the typical socialist technique of setting up a straw man then knocking him down. The market was never intended to guide morality. Believe it or not, that is the Church's role. It's not the government's job or the job of politicians, either. Morality is the sole preserve of the Church. If morality fails, it's a church failure, not a market failure. The only purpose of the market is to bring buyers and sellers together. That's all.

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