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Title: Can Individual Morality and Commercial Life be Reconciled?
Contributor(s): Walsh, AJ (author)orcid ; Lynch, AJ (author)
Publication Date: 2004
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Abstract: Socialists and defenders of laissez-faire share the view that in the market agents pursue their self-interest, not the good of others. On this basis, socialists reject the market as an arena of immorality, while laissez-faire theorists attempt to defuse the charge by relying on the providential consequences of the "invisible hand." However, both stances presuppose a view of morality that too sharply separates self-interest and altruism. Some try to separate the economic and morality into discrete spheres. In contrast, a compatibilist account shows the ways a concern for personal profit and a concern for others can come together. Such a motivationalist approach allows one to re-conceive the "invisible hand." It is no longer a serendipitous justification of the merely self-interested, but an invitation to think of the various mixtures of altruism and self-interest required to produce those results that may commend the market.
Publication Type: Journal Article
Source of Publication: Journal of Interdisciplinary Studies, 16(1/2), p. 80-96
Publisher: Institute for Interdisciplinary Research
Place of Publication: Pasadena, CA USA
ISSN: 0890-0132
Field of Research (FOR): 220305 Ethical Theory
Peer Reviewed: Yes
HERDC Category Description: C1 Refereed Article in a Scholarly Journal
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