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What Money Can't Buy: The Moral Limits of Markets
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What Money Can't Buy: The Moral Limits of Markets

3.93  ·  Rating details ·  11,495 ratings  ·  1,273 reviews
A renowned political philosopher rethinks the role that markets and money should play in our society

Should we pay children to read books or to get good grades? Should we put a price on human life to decide how much pollution to allow? Is it ethical to pay people to test risky new drugs or to donate their organs? What about hiring mercenaries to fight our wars, outsourcing
...more
Hardcover, 256 pages
Published April 24th 2012 by Farrar, Straus and Giroux
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Average rating 3.93  · 
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 ·  11,495 ratings  ·  1,273 reviews


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Manny
Should some things not be for sale? asks the author, a distinguished moral philosopher. If you are a person who loves the idea of free markets, you may be inclined to disagree: when someone wants something, and someone else has it, then the best way to sort things out is accept the fact that this establishes a de facto market and wait for that market to reach equilibrium. Attempts to control the process only make things slower and more complicated.

But what free market enthusiasts tend to ignore
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Sean
Jan 06, 2013 rated it did not like it
I praise Michael Sandel for pillorying markets when they traffic in morally objectionable goods and services. But economists have admitted the amorality of markets. Markets do the best job of allocating scarcity but make no claim as to the worthiness of the good or service allocated to begin with. And so, yes, markets need limits, but this does not diminish the appropriateness of using a market based approach for morally neutral or beneficial goods and services.

Sandel spends too much of the boo
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knig
Oct 21, 2013 rated it liked it
Sandel is worried about the lack of moral limits of markets and posits that the time has come to hold a debate, as a society, that would enable us to decide, again as a society, where ‘markets serve the public good and where they don’t belong’. This to address the precipitous decline in moral values and the ensuing corruption when having a market economy morphs into ‘being’ a market economy.

Objection. Since when, pray tell, have moral values been determined democratically in any society. What ho
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Tiffany Conner
Sep 16, 2012 rated it liked it
Not to brag or anything (or maybe just to brag a little), but I actually knew of Michael Sandel's scholarship way before he wrote Justice, a book I didn't even read, but which achieved international acclaim and thus gave Sandel that coveted status of Superstar Public Intellectual. My introduction to Sandel's work was Democracy's Discontent. I did read the excerpt of What Money Can't Buy in the The Atlantic and enjoyed it. But I don't know that Dr. Sandel needed an entire book to make his argumen ...more
Cynnamon
Nov 06, 2019 rated it it was amazing  ·  review of another edition
Shelves: kat-sachbuch
In this short book Michael Sandel writes about the growing commodification of social life.
He raises the question if we should want a market economy of a market society and shows how market mechanisms take over parts of our lifes that definitely shouldn't be for sale.

The book contains a plethora of well described examples and clear explanations why it seems wrong to ignore moral aspects.

There are many detailed reviews available, therefore this review is short, because I could only repeat what was
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Mike Edwards
Sandel here gets all the big things right--and a shockingly large number of the little things wrong.

His main thesis is absolutely correct: the introduction of money and markets can fundamentally change the character or nature of a particular transaction. Sandel is correct that society often does not fully appreciate this basic fact--which causes us to use monetary incentives in ways that can be more detrimental than beneficial.

Most of the time, but not all of the time. Sandel states that he's ju
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Haplea
Mar 04, 2013 rated it it was amazing
It is an easy reading book about the continuous progressive encroachment of free market mechanisms of putting a price on everything, into ethical values and into the common patrimony of society. The author is showing by examples how in the last decades in the global capitalist world, little by little, everything has become for buying or sale: surrogate mothers, human organs and blood, politicians, children, the right to pollute, honor, integrity, power and even the manipulation of collective con ...more
Son Tung
Dec 28, 2016 rated it it was amazing
256 pages ? I feel like 500 pages.

This book has many many many examples of how Market Thinking creeps into our society. Human always use cost/benefit analysis for all kind of things, but often without comprehension of the big picture and consequences. There are many public goods and human endeavors should not be taken lightly and empathy is something not to be messed with. The often heard mantra “Money cannot solve everything” rings true and clear when the author examines what was and is happen
...more
Lea
Feb 22, 2018 rated it really liked it  ·  review of another edition
Sandel's modest proposal is that there are some things in the world that cannot (by definition) be bought and some things that no one should be able to be sell and buy for other reasons. He does a pretty good job at it, it's easy to follow and full of examples. It's not written as a text book but for the everyday reader. My only gripe with this book is that the premise seems so obvious to me, that there wasn't much new to be learnt. However, I found some of his arguments useful. Personally I'm m ...more
Matthew Jordan
Nov 28, 2021 rated it really liked it
It's been months since I've done a Goodreads review, but that's because I spent the last 3 months reading a number of books that have changed my thinking quite profoundly. In particular, this book, The Art of Gathering, and Conflict is Not Abuse (reviews of the latter two to come) have lived rent-free inside my head, and I have not yet known how to write about them. Let me try.

The basic thesis of What Money Can't Buy is simple: market norms are encroaching on more and more parts of American soci
...more
notgettingenough
I haven't finished this yet, but wanted to make a note before I forget.

There was an interesting COVID statistic in Switzerland this week. A survey was conducted to see if people were happy with COVID rules including some sort of COVID passport which were introduced a while ago. The survey results indicated that the Swiss are increasingly approving the methods.

'Some protesting against the Covid-19 laws were surprised by the Tamedia survey results. Werner Boxler, the co-president of friends of the
...more
Don
Jul 21, 2013 rated it really liked it
The problem with this book is, when you put it down, you walk around looking at the world saying, "Why the hell is THAT considered a marketable part of life?!" "And THAT! What the heck is going on here? It all just snuck up on us... and we lost." Seriously, this is a very interesting read that is a real eye-opener. The skyboxification of America, separating EVERYTHING via the lens of "what would somebody pay for THIS," and what can money NOT buy -- rather, SHOULD not be able to buy -- are substa ...more
Ahmed Hussein Shaheen
"Something similar has been happening throughout our society. At a time of rising
inequality, the marketization of everything means that people of affluence and people of
modest means lead increasingly separate lives. We live and work and shop and play in
different places. Our children go to different schools. You might call it the skyboxification of
American life. It’s not good for democracy, nor is it a satisfying way to live.
Democracy does not require perfect equality, but it does require that ci
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Robert Wechsler
Oct 15, 2015 rated it it was amazing
Shelves: nonfiction
This is one of the most important books that has come out in the last few years. It is about how the norms that accompany a free market approach are inappropriate to many spheres of life, such as public service, access to government officials, and the distribution of government resources. I focus on government, because I write about government ethics. But Sandel looks at other spheres of life, as well.

The ideas Sandel expresses here are anathema to libertarians, who consistently apply a free mar
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Carsten
Aug 09, 2012 rated it it was amazing


Five stars for the topic and bringing it to the attention of the public. The topic of how far reaching we as a society want markets to be is a highly important one and it is had much too little, actually not at all I would say. Markets have become the myths of our time, they never fail and are always right and because of that they should have a broader reach. That is the typical argument but is that really the case? Do we want as a society be fully market driven?
Where the book could have been
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Ashley
Jan 08, 2014 rated it it was ok
While Sandel makes some interesting points and relates his hypothesis to contemporary news very well, the book itself felt much too repetitive. This is a topic that surely could have been a 15-20 page paper. The content itself did not fill up an entire book, and this was clear in the vast number of examples Sandel insisted on using. Small points of actual matter were interspersed with repetitive and often only tangentially-related ideas, which made the book tedious overall.
Caroline
Apr 06, 2021 added it
Shelves: nonfiction
As an economist I didn’t find too much that was new to me in this 2012 book, but the chapter on How Markets Crowd Out Morals is good. If you are not used to thinking analytically about how markets have invaded arenas that should retain moral values, this is an easy introduction with lots of examples.
Himanshu Karmacharya
Nov 22, 2018 rated it really liked it
Shelves: non-fiction
Worth a read. Sandel not only asks philosophical questions about the commercialization and monetization of our lifestyle and society but also answers a lot of them. He gives a fine perspective about how the markets are invading our life and corrupting it and how we are blind to it.
Rahul Jain
Oct 27, 2017 rated it it was amazing
What a beautiful little book.
As a child I used to wonder why does only life insurance companies used to have agents specifically, and why there was always a hint of distance and discomfort from those people.

Although the book is US specific in certain topics, it remains fluid to read, covering a broad range of topics and poses interesting question on our notion of what we think is sacrosanct in life.

The chapter on gifts is quite relieving - I always found giving cash very distasteful - it's good
...more
Mehrsa
Aug 28, 2016 rated it really liked it
Yes, but I will continue to pay my kids for doing math.
Yevgeniy Brikman
Dec 29, 2019 rated it it was amazing
An important read for everyone.

The key question in this book: what should and shouldn't be for sale? The book goes through many examples, some genuinely shocking, of how market dynamics are gradually expanding into more and more of our lives, and other than a few exceptions (e.g., we've created laws against buying and selling people—i.e., slavery), there seems to be no end in sight. But should there be? Should we draw a line somewhere? What are the moral implications when everything is for sale
...more
Jeremy
Jan 13, 2013 rated it really liked it
My own initial worries were that an Ivy League professor would write an argument that requires some sort of familiarity with the vagaries of economic theory. But Sandel doesn't. He explains both the econ and the moral theory that represent the book’s central conflict/discussion in incredibly accessible terms, a prose style that seems to me entirely suitable for the target audience. There's very little disciplinary name-dropping or theoretical digression, and the presentation calls to mind an int ...more
Kate Lawrence
Aug 06, 2013 rated it really liked it
Shelves: social-issues
Anyone who is dismayed to see the unprecedented reach of advertising, corporate naming rights of public venues, and monetary payments for behavior formerly expected without incentives--like getting good grades or standing in line--will be glad to see an examination of how far markets should be allowed to penetrate our society. And those who haven't noticed these things can use the book to catch up.
Sandel, a Harvard professor of government, doesn't strive to make a particular case, however. In th
...more
Francisco Lisboa
Sep 23, 2021 rated it really liked it  ·  review of another edition
A great philosophical analysis on the pervasion of markets in our public and personal lives. The book is filled with rich examples illustrating how markets "crowd out norms", which is to say, how they end up affecting and influencing norms and the goods being commercialized, presented by Sandel in a twofold manner: through the "argument of fairness" and the "argument of corruption". ...more
Carson Cooper
Sep 14, 2020 rated it really liked it
Good book. Very eye opening. Everyone in pamplin should read. Marketing can be problematic. Maybe I should switch my major senior year. Hmm. Anywho I read this in 4 days go me. I’m that bitch
Altonmann
This book is a mere catalog of commercialism in our society.
Since our society and culture in the United States is commercialism,
the book is merely additional noise. Merely a pile of undigested research by an academic.

If academia requires publish or perish, this belongs in the perish category. The blurb by George Will (the cipher with a bow tie) should have warned me off.

There is no point of view expressed here. The author's quiet even handed calm approach is perhaps intended as "objectivity". Ac
...more
Katrina Stevenson
Apr 02, 2018 rated it liked it
This review has been hidden because it contains spoilers. To view it, click here.
Arun Pandiyan
Dec 05, 2021 rated it it was amazing  ·  review of another edition
If there is something valuable that I learned from Prof. Sandel, it is to have meaningful and informed conversations around topics that invoke a sense of disagreement and sharp division among people. One could watch any Harvard lectures where Prof. Sandel tries to establish his thoughts on a specific topic and before he does that, he humbly asks the audience for their take on the issue. After gathering multiple viewpoints on the topic, he further explains his approach. Sam Harris once said ‘a ci ...more
Tanushree
Feb 21, 2021 rated it it was amazing
This one ought to be a textbook.

Eye-opening in so many ways, this book is fundamental to understanding the issues we evade when we consider markets to be clairvoyant and all-efficient. Most economists assume markets to be inert, that don’t 'change' the goods they move. Michael Sandel lays out the perspective where this is untrue. This is an especially important debate now when ‘we’re drifting from having a market economy, to being a market society’. From using the market as a tool, to making it
...more
Trish
Michael Sandel is a storyteller. His stories are amusing ones like those in Freakonomics: A Rogue Economist Explores the Hidden Side of Everything, but Sandel’s stories urge us to look deeper: to look meaning rather than just personal gain. Perhaps not everything should be for sale. Sandel’s stories make us wonder what our responsibilities are in the marketplace economists have made for us. He prods us to ask ourselves if the world we have is the one we want. Judging from the reaction of the pop ...more
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Michael J. Sandel is an American political philosopher who lives in Brookline, Massachusetts. He is the Anne T. and Robert M. Bass Professor of Government at Harvard University, where he has taught since 1980. He is best known for the Harvard course 'Justice', which is available to view online, and for his critique of John Rawls' A Theory of Justice in his first book, Liberalism and the Limits of ...more

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As the final days of the year tick themselves off the calendar, the 2022 Goodreads Reading Challenge is coming to a close. Sincere...
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“A growing body of work in social psychology offers a possible explanation for this commercialization effect. These studies highlight the difference between intrinsic motivations (such as moral conviction or interest in the task at hand) and external ones (such as money or other tangible rewards). When people are engaged in an activity they consider intrinsically worthwhile, offering them money may weaken their motivation by depreciating or "crowding out" their intrinsic interest or commitment.” 8 likes
“As soon as public service ceases to be the chief business of the citizens, and they would rather serve with their money than with their persons, the state is not far from its fall.” 4 likes
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