Do markets corrupt our morals compared to what?

Originally published in The Review of Austrian Economics

Critics of markets have long claimed from that markets make people vicious, particularly materialistic and greedy, or even sadistic. In Do Markets Corrupt Our Morals?, Virgil Storr and Ginny Choi provide an essential contribution to discussions of markets and morals by deploying social scientific tools and empirical rigor to answer what has historically been treated as a philosophic problem. This article considers possible replies from philosophic critics of markets, particularly those who hold that the relevant contrast institutions are outside the set of existing societies such as a utopian future communism or mythic asocial state of nature. The article then argues that Storr and Choi provide significant answers even to such critics and points to directions for future research.

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