In his market society talk, Harvard professor Michael Sandel asks what the role should be of money and markets in civic society. He notes an inmate in the American penitentiary system can purchase a prison cell upgrade if he or she would like a bigger or nicer room for a mere $82 USD a night.
He states we have moved from a market economy, which is a good thing, to a market society, which is a bad thing. Firstly, it creates rampant inequality, which becomes problematic when money becomes necessary for basic things like access to education and healthcare. Secondly, market thinking can change good social practices. He cites monetary incentives for children to read books in school as an example.
The market society talk then shifts into an audience discussion about why markets should not be trusted in civic matters.
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Michael Sandel’s Market Society Talk is Opposed to Money in Societ
By: Alyson Wyers - Published: Oct 18, 2013 • References: youtu.be