A significant effect of China’s rejection of a planned economy for a free market is the stimulus this has given to discussion of therelationship between morality and the market. Some Chinese believe that the introduction of a market economy has had a negative effect on public morality. Others disagree and maintain that it has had only a positive effect. Besides this particular debate there are two others. In the first of these debates, it is maintained on the one side that conduct in the market …
Read moreA significant effect of China’s rejection of a planned economy for a free market is the stimulus this has given to discussion of therelationship between morality and the market. Some Chinese believe that the introduction of a market economy has had a negative effect on public morality. Others disagree and maintain that it has had only a positive effect. Besides this particular debate there are two others. In the first of these debates, it is maintained on the one side that conduct in the market is amoral and essentially contractual or transactional in nature: a boundary must be drawn between economic conduct and conduct in other spheres of social life. Against this it is argued that ethical norms apply equally to all aspects of social life including the economy. In the second debate one side holds that the market engenders its own “ethical” norms. In opposition it is argued that the moral categories articulated in moral philosophy are applicable to behaviour in the market.
