Kidney markets are prohibited in principle because they are assumed to undermine the seller’s dignity. Considering the trade-off between saving more lives by introducing regulated kidney markets and preserving the seller’s dignity, we argue that it is advisable to demand that citizens restrain their own moral judgements and not interfere with the judgements of those who are willing to sell a kidney. We also argue that it is advisable not only to limit the political implications of the moral argument of (...) dignity concerns toward a market-based solution but also to re-evaluate the dignity argument itself. First, if the dignity argument is to be given normative force, it must also consider the dignity violation of the potential transplant recipient. Second, there seems to be no compelling notion of dignity that demonstrates why it is morally permissible to donate but not to sell a kidney. (shrink)

The renaissance of Aristotelian virtue ethics has produced an extensive philosophical literature that criticizes markets for a lack of virtues. Drawing on Michael Sandel’s virtue-ethical critique of price gouging during natural disasters, we (1) identify and clarify serious misunderstandings in recurring price-gouging debates between virtue-ethical critics and economists. Subsequently, (2) we respond to Sandel’s call for interdisciplinary dialogue. However, instead of solely calling on economics to embrace insights from virtue ethics, we prefer a two-sided version of interdisciplinary dialogue and argue (...) that virtue ethics should embrace economic insights. In particular, we argue that if virtue ethics is to preserve its social relevance under modern conditions, it should re-conceptualize its notion of virtue and re-evaluate the self-interested but effective—and in this sense solidary—help among strangers via markets as virtuous rather than devaluate it as greed, that is, as vicious price gouging. (shrink)

Bioethics, Volume 36, Issue 4, Page 453-460, May 2022.

The Covid-19 pandemic reveals a new phenomenon, unaddressed by the existing literature on “price gouging” in times of emergency. While merchants – getting large remuneration for providing desperately needed goods – evoke public moral outrage for assumed “price gouging”, employees – getting large remuneration for providing desperately needed services – do not cause such outrage but rather experience moral appraisal for their valuable commitment. To address this inherent inconsistency of moral judgment, we propose to embrace insights from research on folk (...) economics. By understanding the folk perception underlying public outrage at “price gougers,” business ethics might better enlighten the moral legitimacy of anti-“price gouging” measures. (shrink)