Almost without realizing it, we have drifted from having market economies to becoming market societies. A market economy is a tool for organizing productive activity, while a market society is a place where almost everything – from our bodies to our politics – is up for sale.
TOKYO – Today, there are very few things that money can’t buy.
If you are sentenced to a jail term in Santa Barbara, California, and don’t like the standard accommodations, you can buy a prison-cell upgrade for about $90 per night.
If you want to help to prevent the tragic fact that, each year, thousands of babies are born to drug-addicted mothers, you can contribute to a charity that uses a market mechanism to ameliorate the problem: a $300 cash grant to any drug-addicted woman willing to be sterilized.
To continue reading, please log in or enter your email address.
To access our archive, please log in or register now and read two articles from our archive every month for free. For unlimited access to our archive, as well as to the unrivaled analysis of PS On Point, subscribe now.