Skip to main content
×
Home
    • Aa
    • Aa

FRATERNITY: WHY THE MARKET NEED NOT BE A MORALLY FREE ZONE*

  • Luigino Bruni (a1) and Robert Sugden (a2)
Abstract

This paper reappraises the idea, traceable to Adam Smith, of a fundamental distinction between market transactions and genuinely social relationships. On Smith's account, each party to a market transaction pursues his own interests, subject only to the law of contract. Using the work of Smith's contemporary Antonio Genovesi as our starting point, we reconstruct an alternative understanding of market interactions as instances of a wider class of reciprocal relationships in civil society, characterized by joint intentions for mutual assistance. We consider the implications of our arguments for current debates about whether marketed personal care services can be genuinely caring.

Copyright
References
Hide All
Akerlof G. 1982. Labor contracts as partial gift exchange. Quarterly Journal of Economics 97: 543–69.
Bacharach M. 2006. Beyond Individual Choice, eds. Gold N. and Sugden R.. Princeton University Press.
Bolton G. and Ockenfels A.. 2000. ERC: A theory of equity, reciprocity, and competition. American Economic Review 90: 166–93.
Bratman M. 1993. Shared intention. Ethics 104: 97113.
Brennan G. 1996. Selection and the currency of reward. In The Theory of Institutional Design, ed. Goodin R., 256–75. Cambridge University Press.
Bruni L. 2006. Civil Happiness: Economics and Human Flourishing in Historical Perspective. Routledge.
Bruni L. and Sugden R.. 2000. Moral canals: trust and social capital in the works of Hume, Smith and Genovesi. Economics and Philosophy 16: 2145.
Deci E. and Ryan R.. 1985. Intrinsic Motivation and Self-determination in Human Behavior. Plenum Press.
Fehr E. and Schmidt K.. 1999. A theory of fairness, competition and cooperation. Quarterly Journal of Economics 114: 817–68.
Folbre N. and Nelson J.. 2000. For love or money – or both? Journal of Economic Perspectives 14: 123140.
Frank R. 1985. Choosing the Right Pond: Human Behavior and the Quest for Status. Oxford University Press.
Frey B. 1997. Not Just for the Money: An Economic Theory of Personal Motivation. Edward Elgar.
Gambetta D. 1993. The Sicilian Mafia: The Business of Private Protection. Harvard University Press.
Gauthier D. 1986. Morals by Agreement. Clarendon Press.
Genovesi A. 2005 [1765–67]. Delle Lezioni di Commercio o sia di Economia Civile. Instituto Italiano per gli Studi Filofící, Napoli.
Gilbert M. 1989. On Social Facts. Routledge.
Gold N. and Sugden R.. 2007. Collective intentions and team agency. Journal of Philosophy 104: 109–37.
Hayek F. 1948. Individualism and Economic Order. University of Chicago Press.
Heyes A. 2005. The economics of vocation, or ‘Why is a badly-paid nurse a good nurse?’ Journal of Health Economics 24: 561–9.
Hodgson D. 1967. Consequences of Utilitarianism. Clarendon Press.
Hurley S. 1989. Natural Reasons. Oxford University Press.
Katz E. and Handy F.. 1998. The wage differential between non-profit institutions and corporations: getting more by paying less? Journal of Comparative Economics 26: 246–61.
Mill J. S. 1988 [1869]. The Subjection of Women. Hackett.
Nelson J. 2005. Interpersonal relations and economics: comments from a feminist perspective. In Economics and Social Interaction: Accounting for Interpersonal Relations, eds. Gui B. and Sugden R., 250–61. Cambridge University Press.
Putnam R. 1993. Making Democracy Work. Princeton University Press.
Rabin M. 1993. Incorporating fairness into game theory and economics. American Economic Review 83: 1281–302.
Regan D. 1980. Utilitarianism and Cooperation. Clarendon Press.
Ryan R. and Deci E.. 2000. Intrinsic and extrinsic motivations: classic definitions and new directions. Contemporary Educational Psychology 25: 5467.
Searle J. 1990. Collective intentions and actions. In Intentions in Communication, ed. Cohen P., Morgan J. and Pollack M., 401–15. MIT Press.
Smith A. 1976 [1759]. The Theory of Moral Sentiments. Clarendon Press.
Smith A. 1976 [1776]. An Inquiry into the Nature and Causes of the Wealth of Nations. Clarendon Press.
Sugden R. 1984. Reciprocity: the supply of public goods through voluntary contributions. Economic Journal 94: 772–87.
Sugden R. 1993. Thinking as a team: toward an explanation of nonselfish behavior. Social Philosophy and Policy 10: 6989.
Sugden R. 2002. Beyond sympathy and empathy: Adam Smith's concept of fellow-feeling. Economics and Philosophy 18: 6387.
Sugden R. 2005. Fellow-feeling. In Economics and Social Interaction: Accounting for Interpersonal Relations, eds. Gui B. and Sugden R., 5275. Cambridge University Press.
Tuomela R. and Miller K.. 1988. We-intentions. Philosophical Studies 53: 367–89.
Recommend this journal

Email your librarian or administrator to recommend adding this journal to your organisation's collection.

Economics & Philosophy
  • ISSN: 0266-2671
  • EISSN: 1474-0028
  • URL: /core/journals/economics-and-philosophy
Please enter your name
Please enter a valid email address
Who would you like to send this to? *
×

Metrics

Full text views

Total number of HTML views: 7
Total number of PDF views: 88 *
Loading metrics...

Abstract views

Total abstract views: 347 *
Loading metrics...

* Views captured on Cambridge Core between September 2016 - 23rd October 2017. This data will be updated every 24 hours.