The Moral Conditions of Economic Efficiency

Walter J. Schultz

"Walter J. Schultz illustrates the deficiencies of theories that purport to show that markets alone can provide the basis for efficiency. He argues that markets are not moral-free zones and that achieving the economic common good does indeed require morality. He demonstrates that efficient outcomes of market interaction cannot be achieved without moral normative constraints and then goes on to specify a set of normative conditions that make these positive outcomes possible.". "The Moral Conditions of Economic Efficiency does not depend on a particular ethical theory or on the overcited shortcomings of private property economies. Rather, it focuses on the process of market interaction itself to prove that selfishness alone cannot provide for the economic good."--BOOK JACKET.