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Government
Moral Criticisms of the Market
In his argument, Ewert writes, "In their eyes, the justness and morality of an economic system are vastly more important than its efficiency" (Ewert, 1989, p. 103). This does seem to be a valid argument, especially considering how bloated and inefficient the economy, the national budget, and even the stock market have become in recent times. The stock market is riding a record high, and yet the economy seems to be in a downturn. The stock market is also extremely tied to the global economy now, making it much more precarious and inefficient.
However, the author argues this is incorrect, and the market should not be judged by moral guidelines, as the Christian left does, but instead, the market should be judged by its success and viability. The free market is an economic system, not a moral system. Morals come into play in keeping the market fair and honest, but primarily it is a market of finance, rather than social concern, and it should be judged accordingly. The author makes several arguments along this line, pointing out weaknesses in the Christian right's assessment of market fundamentals, and essentially, I agree with this position, because it seems more balanced, honest, and correct.
Another discussion backs up this assessment. A journalist writes, "[T]hat market as such does not have moral features and its' functioning can carry with itself both good and bad consequences" (Ci-ewska, 2007). Both of these assessments seem correct. A person can view something any way he or she chooses. Some will always see the free market as a capitalistic and corrupt way of doing business, while others will see it as the only viable way for a free economy. The market is more of a machine and less of a moral social entity. As Ewert notes, "Its alleged moral shortcomings turn out to be things which are common to mankind" (Ewert, 1989, p. 109), and I wholeheartedly agree with that assessment.
References
Ci-ewska, E. (2007). Markets and morals. Retrieved from the Warsaw University Web site: http://www.iwm.at/index.php?option=com_content&task=view&id=510&Itemid=5507 June 2007.
Ewert, K.S. (March 1989). Moral criticisms of the market. The Freeman. 103-109.
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