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What Money Can't Buy: The Moral Limits of Markets, by Michael J. Sandel
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Should we pay children to read books or to get good grades? Should we allow corporations to pay for the right to pollute the atmosphere? Is it ethical to pay people to test risky new drugs or to donate their organs? What about hiring mercenaries to fight our wars? Auctioning admission to elite universities? Selling citizenship to immigrants willing to pay?
In What Money Can't Buy, Michael J. Sandel takes on one of the biggest ethical questions of our time: Is there something wrong with a world in which everything is for sale? If so, how can we prevent market values from reaching into spheres of life where they don't belong? What are the moral limits of markets?
In recent decades, market values have crowded out nonmarket norms in almost every aspect of life―medicine, education, government, law, art, sports, even family life and personal relations. Without quite realizing it, Sandel argues, we have drifted from having a market economy to being a market society. Is this where we want to be?
In his New York Times bestseller Justice, Sandel showed himself to be a master at illuminating, with clarity and verve, the hard moral questions we confront in our everyday lives. Now, in What Money Can't Buy, he provokes an essential discussion that we, in our market-driven age, need to have: What is the proper role of markets in a democratic society―and how can we protect the moral and civic goods that markets don't honor and that money can't buy?
- Sales Rank: #112943 in Books
- Published on: 2012-04-24
- Released on: 2012-04-24
- Original language: English
- Number of items: 1
- Dimensions: 9.36" h x 1.08" w x 6.28" l, 1.06 pounds
- Binding: Hardcover
- 256 pages
From Bookforum
Sandel's world seems to be firmly divided between God and Mammom; in return for evicting the marketeers from the areas he holds sacred, he is prepared to grant them ruling powers over all the others. — Andrew Ross
Review
“Michael Sandel's What Money Can't Buy is a great book and I recommend every economist to read it, even though we are not really his target audience. The book is pitched at a much wider audience of concerned citizens. But it taps into a rich seam of discontent about the discipline of economics.... The book is brimming with interesting examples which make you think.... I read this book cover-to-cover in less than 48 hours. And I have written more marginal notes than for any book I have read in a long time.” ―Timothy Besley, Journal of Economic Literature
“Provocative. . . What Money Can't Buy [is] an engaging, compelling read, consistently unsettling and occasionally unnerving. . . [It] deserves a wide readership.” ―David M. Kennedy, Democracy
“Brilliant, easily readable, beautifully delivered and often funny. . . an indispensable book on the relationship between morality and economics.” ―David Aaronovitch, The Times (London)
“Sandel is probably the world's most relevant living philosopher.” ―Michael Fitzgerald, Newsweek
“In a culture mesmerized by the market, Sandel's is the indispensable voice of reason…. What Money Can't Buy. . . must surely be one of the most important exercises in public philosophy in many years.” ―John Gray, New Statesman
“[An] important book. . . Michael Sandel is just the right person to get to the bottom of the tangle of moral damage that is being done by markets to our values.” ―Jeremy Waldron, The New York Review of Books
“The most famous teacher of philosophy in the world, [has] shown that it is possible to take philosophy into the public square without insulting the public's intelligence. . .[He] is trying to force open a space for a discourse on civic virtue that he believes has been abandoned by both left and right.” ―Michael Ignatieff, The New Republic
“[Sandel]is such a gentle critic that he merely asks us to open our eyes. . . Yet What Money Can't Buy makes it clear that market morality is an exceptionally thin wedge. . . Sandel is pointing out. . . [a] quite profound change in society.” ―Jonathan V. Last, The Wall Street Journal
“What Money Can't Buy is the work of a truly public philosopher. . . [It] recalls John Kenneth Galbraith's influential 1958 book, The Affluent Society. . .Galbraith lamented the impoverishment of the public square. Sandel worries about its abandonment--or, more precisely, its desertion by the more fortunate and capable among us. . .[A]n engaging, compelling read, consistently unsettling. . . it reminds us how easy it is to slip into a purely material calculus about the meaning of life and the means we adopt in pursuit of happiness.” ―David M. Kennedy, Democracy: A Journal of Ideas
“[Sandel] is currently the most effective communicator of ideas in English.” ―The Guardian
“Michael Sandel is probably the most popular political philosopher of his generation. . .The attention Sandel enjoys is more akin to a stadium-filling self-help guru than a philosopher. But rather than instructing his audiences to maximize earning power or balance their chakras, he challenges them to address fundamental questions about how society is organized. . . His new book [What Money Can't Buy] offers an eloquent argument for morality in public life.” ―Andrew Anthony, The Observer (London)
“What Money Can't Buy is replete with examples of what money can, in fact, buy. . . Sandel has a genius for showing why such changes are deeply important.” ―Martin Sandbu, Financial Times
“One of the leading political thinkers of our time…. Sandel's new book is What Money Can't Buy: The Moral Limits of Markets, and I recommend it highly. It's a powerful indictment of the market society we have become, where virtually everything has a price.” ―Michael Tomasky, The Daily Beast
“To understand the importance of [Sandel's] purpose, you first have to grasp the full extent of the triumph achieved by market thinking in economics, and the extent to which that thinking has spread to other domains. This school sees economics as a discipline that has nothing to do with morality, and is instead the study of incentives, considered in an ethical vacuum. Sandel's book is, in its calm way, an all-out assault on that idea…. Let's hope that What Money Can't Buy, by being so patient and so accumulative in its argument and its examples, marks a permanent shift in these debates.” ―John Lancaster, The Guardian
“Sandel is among the leading public intellectuals of the age. He writes clearly and concisely in prose that neither oversimplifies nor obfuscates…. Sandel asks the crucial question of our time: ‘Do we want a society where everything is up for sale? Or are there certain moral and civic goods that markets do not honor and money cannot buy?'” ―Douglas Bell, The Globe and Mail (Toronto)
“Deeply provocative and intellectually suggestive…. What Sandel does…is to prod us into asking whether we have any reason for drawing a line between what is and what isn't exchangeable, what can't be reduced to commodity terms…. [A] wake-up call to recognize our desperate need to rediscover some intelligible way of talking about humanity.” ―Rowan Williams, Prospect
“There is no more fundamental question we face than how to best preserve the common good and build strong communities that benefit everyone. Sandel's book is an excellent starting place for that dialogue.” ―Kevin J. Hamilton, The Seattle Times
“Poring through Harvard philosopher Michael Sandel's new book. . . I found myself over and over again turning pages and saying, 'I had no idea.' I had no idea that in the year 2000, 'a Russian rocket emblazoned with a giant Pizza Hut logo carried advertising into outer space.'. . . I knew that stadiums are now named for corporations, but had no idea that now 'even sliding into home is a corporate-sponsored event.'. . . I had no idea that in 2001 an elementary school in New Jersey became America's first public school 'to sell naming rights to a corporate sponsor.' Why worry about this trend? Because, Sandel argues, market values are crowding out civic practices.” ―Thomas Friedman, New York Times
“An exquisitely reasoned, skillfully written treatise on big issues of everyday life.” ―Kirkus Reviews (starred review)
“In his new book, Michael Sandel --the closest the world of political philosophy comes to a celebrity -- argues that we now live in a society where ‘almost everything can be bought and sold.' As markets have infiltrated more parts of life, Sandel believes we have shifted from a market economy to ‘a market society,' turning the world -- and most of us in it -- into commodities. And when Sandel proselytizes, the world listens…. Sandel's ideas could hardly be more timely.” ―Rosamund Urwin, Evening Standard (London)
About the Author
Michael J. Sandel is the Anne T. and Robert M. Bass Professor of Government at Harvard University. His work has been the subject of television series on PBS and the BBC. His most recent book is the international bestseller Justice: What's the Right Thing to Do?
Most helpful customer reviews
0 of 0 people found the following review helpful.
Good perspective on U.S. practice of monitizing everythig.
By Carolyn D. Andrews
Interesting and novel (to me) concepts. His philosophy on monetizing everything is well explained and exemplified in it's various aspects. He makes a very valid point. However, about half way through the book it got repetitive. I was waiting for the big bang at the end, The pay-off so to speak. But was disappointed. Just got boring and repetitive.
89 of 101 people found the following review helpful.
Thought-Provoking Fun
By Book Shark
What Money Can't Buy: The Moral Limits of Markets by Michael J. Sandel
" What Money Can't Buy" is the thought-provoking book that asks the ethical question, "Are there some things that money can buy but shouldn't?" With a plethora of fascinating examples, best-selling author and famed Harvard professor Michael J. Sandel once again dazzles the mind with philosophical mind teasers. In this enlightening edition, Sandel challenges the reader with economic ethics, are economic markets replacing our moral judgments? Sandel insists that these are questions that society needs to answer and decide what values should govern our social and civic life. What sets Sandel apart is precisely his ability to ask thought-provoking questions and provide lucid perspectives. This 245-page book is composed of the following five chapters: 1. Jumping the Queue, 2. Incentives, 3. How Markets Crowd Out Morals, 4. Markets in Life and Death, and 5. Naming Rights.
Positives:
1. Elegant, conversational tone that makes this book a treat to read.
2. As thought-provoking a book as you will find.
3. So many fascinating economic topics covered in a brief book.
4. Philosophy made fun. Sandel writes with panache.
5. So easy to understand yet so profound.
6. Very even-handed approach. Does a great job of addressing issues from different perspectives.
7. Sandel challenges you to think. His trademark engaging style draws you in and just when you thought you had it all figured out he forces you to rethink your position. Excellent!
8. A great job of defining the role of our markets.
9. A master at providing countless examples of modern moral dilemmas.
10. The creative minds of the free markets...interesting business models. Line standing business applied to several businesses as a curious example.
11. Some examples will test your moral fiber. I'm not going to spoil it.
12. Thought-provoking questions abound, "Under what conditions do market reflect freedom of choice, and under what conditions do they exert a kind of coercion?"
13. An interesting look at education and pay for grades programs.
14. Health bribes...do they work?
15. Perverse situations...what would you do?
16. The morality of environmental preservation, climate change, endangered species.
17. Great quotes, "Morality represents the way we would like to work, and economics represents how it actually does work."
18. What money can and cannot buy and why. Great stuff.
19. A fascinating look at the "value" of life. Enlightening.
20. The naming rights chapter goes over the business and ethics of paying for ads in practically every aspect of our lives.
21. Being the big baseball fan that I am I was happy to see a couple of sections on baseball.
22. The two running objections of laissez-faire argument: coercion and unfairness. Plenty of examples.
23. Insight into public marketing.
24. The positives and negatives of commercialism.
25. Comprehensive notes section.
Negatives:
1. So good it was too brief...I wanted more.
2. Perhaps not as great as Sandel's previous book: "Justice: What's the Right Thing to Do?" but it is still an excellent book.
3. Folks on opposite side of the political spectrum may have something to complain about and that may be a good thing.
4. Surprised there wasn't many shenanigans from Wall Street. That would have taken several books though.
5. Not a ground breaking book just better asked questions.
In summary, I enjoyed this book, it will give you topics to discuss for years to come. What sets Sandel apart is his innate ability to ask interesting questions and provide well thought out answers. Few authors have that innate ability to draw you in and make you ponder your arguments. The book has few shortcomings including the fact that is indeed a short book and a lot may in fact be logical to many. A 4.5 star book out of five. That being said, if you are looking for a philosophical book that is a treat to read, "What Money Can't Buy" is worth every penny. I highly recommend it!
Further suggestions: The excellent, "Justice: What's the Right Thing to Do?" by Michael J. Sandel, "Age of Greed: The Triumph of Finance and the Decline of America, 1970 to the Present" by Jeff Madrick, "Good Strategy Bad Strategy: The Difference and Why It Matters" by Richard Rumelt, and "The End of Growth: Adapting to Our New Economic Reality" by Richard Heinberg.
0 of 0 people found the following review helpful.
Four Stars
By Helvert Felipe Molina Leon
Interesting perspective about one of the biggest moral problems in US society. Highly recommended
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