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Markets Are Moral Training Grounds

  • Virgil Henry Storr
  • Ginny Seung Choi
Chapter

Abstract

This chapter argues that markets actually have the ability to make us more virtuous. We show how market participants respond to trustworthy and untrustworthy trading partners and highlight the mechanisms through which moral development occurs in markets. Rather than being morally corrupting, markets are spaces of moral development because they offer us opportunities to discover others who have the moral qualities that we admire as well as because virtuous behavior is rewarded and immoral behavior is punished in markets.

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© The Author(s) 2019

Authors and Affiliations

  • Virgil Henry Storr
    • 1
  • Ginny Seung Choi
    • 2
  1. 1.Department of EconomicsGeorge Mason UniversityFairfaxUSA
  2. 2.The Mercatus Center at George Mason UniversityArlingtonUSA

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