David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Journal of Ethics 10 (1-2):53 - 74 (2006)
If free markets consist in nothing more than “capitalist acts between consenting adults,” and if in the old legal maxim “volenti non fit injuria,” then it seems to follow that free markets do no wrongs. But that defense of free markets wrenches the “volenti” maxim out of context. In common law adjudication of disputes between two parties, it is perfectly appropriate to cast standards of “volenti” narrowly, and largely ignore “duress via third parties” (wrongs done to or by others who are not themselves party to the action). In economic markets, of course, those third-party effects are rife. But we want them to be rectified systematically, not piecemeal through particular cases between particular parties that happen to come to court. That is the proper province of political philosophers and system-designers, in critiquing and constraining the operation of the market.
|Keywords||consent duress Joel Feinberg markets Robert Nozick third parties volenti|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
No references found.
Citations of this work BETA
No citations found.
Similar books and articles
Debra Satz (2007). Liberalism, Economic Freedom, and the Limits of Markets. Social Philosophy and Policy 24 (1):120-140.
Virginia Held (2002). Care and the Extension of Markets. Hypatia 17 (2):19-33.
Gerald Dworkin (2012). Harm and the Volenti Principle. Social Philosophy and Policy 29 (1):309-321.
Karl Reinhard Kolmsee (2000). Philosophy at the Core of Economic Markets. Philosophy in the Contemporary World 7 (4):75-78.
Gerald Gaus (2003). Backwards Into the Future: Neorepublicanism as a Postsocialist Critique of Market Society. Social Philosophy and Policy 20 (1):59-91.
Daniel M. Hausman (1989). Are Markets Morally Free Zones? Philosophy and Public Affairs 18 (4):317-333.
Edward J. Romar (2009). Noble Markets: The Noble/Slave Ethic in Hayek's Free Market Capitalism. [REVIEW] Journal of Business Ethics 85 (1):57 - 66.
Added to index2009-01-28
Total downloads26 ( #73,097 of 1,140,280 )
Recent downloads (6 months)2 ( #86,093 of 1,140,280 )
How can I increase my downloads?