Is the Market Moral? Essay

Pages: 2 (608 words)  ·  Bibliography Sources: 1  ·  File: .docx  ·  Level: College Senior  ·  Topic: Government

¶ … Morality of the Economic Market

The Blank Position Supporting Government Regulation

According to Blank, the "market model" is not appropriately applicable to describe the behavior of individual human beings. In principle, the author suggests that this macroscopic view of human behavior contradicts the fundamental concept of free will. On the other hand, Blank maintains that the highly complex institutions, processes, and systems that have evolved within the modern economic environment are too important and too susceptible to errors, oversights, and also to intentional exploitation by individuals and entities who willfully violate religious moral principles and secular laws for personal gain.

Blank reminds us that government regulation is merely a more modern and complex version of the basic social institutions of the social human communities whose establishment is promoted throughout biblical history. Just as the public good and the greatest benefit of all within the human community requires laws, tribunals, and sanctions imposed for violating the rights and interests of others, so do the same underlying concerns require government regulation and oversight of those institutions whose improper or dishonest functioning poses tremendous risk to scores of other individuals within the community.

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Blank acknowledges that government regulatory and oversight processes are susceptible to error and even to the impropriety of individuals charged with that responsibility. However, she maintains that even the imperfect government regulatory systems are far preferable to the potential risks associated with unregulated modern economic institutions.

The McGurn Position against Government Regulation

Essay on Is the Market Moral? Assignment

McGurn argues that the economic markets have benefited the human community far more than they have harmed the human community, even with the most catastrophic failures that have resulted from short-term crises and "corrections." According to McGurn, the economic system evolves in a natural manner in which self-regulation is sufficient, in the long-term, to ensure that its predominant effect on… [END OF PREVIEW] . . . READ MORE

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How to Cite "Is the Market Moral?" Essay in a Bibliography:

APA Style

Is the Market Moral?.  (2009, October 22).  Retrieved June 4, 2020, from

MLA Format

"Is the Market Moral?."  22 October 2009.  Web.  4 June 2020. <>.

Chicago Style

"Is the Market Moral?."  October 22, 2009.  Accessed June 4, 2020.