Michael Sandel: Why we shouldn't trust markets with our civic life

Summary

This script explores the expanding role of money and markets in society, questioning the consequences of a market-driven approach to life's essentials. It discusses the impact of marketization on inequality and the potential erosion of intrinsic values in areas like education and civic life. The debate over cash incentives in schools exemplifies the tension between material rewards and the cultivation of genuine interests and values, ultimately raising the question of whether there are certain aspects of life that should remain beyond the reach of market forces.

Takeaways

• 💵 The role of money and markets in society is a topic that needs reevaluation, as money can now buy many things previously considered beyond its reach.
• 🏛 Examples of market influence include paying for better jail accommodations, Fast Track tickets for amusement parks, and paid line-standing services for Congressional hearings.
• 🛫 The outsourcing of war to private military contractors in Iraq and Afghanistan shows how market mechanisms have extended into significant societal functions without public debate.
• 🌐 There has been a shift from a market economy, which is a tool for organizing productive activity, to a market society where almost everything is for sale.
• 🚨 The concern with becoming a market society is twofold: it exacerbates inequality and can alter the meaning of social goods and practices when market values are introduced.
• 📈 The more money can buy, the more significant affluence or its absence becomes, affecting access to essentials like healthcare, education, and political influence.
• 🎓 Market-based solutions, such as cash incentives for academic performance, have been tried in schools with mixed results and raise questions about their long-term impact on intrinsic motivation.
• 🤔 The debate over cash incentives in education highlights the potential for market mechanisms to corrupt or crowd out intrinsic values, such as the love of learning.
• 📚 The experiment of paying children to read books led to them reading more, but also to a preference for shorter books, indicating a possible shift in their reading habits influenced by the incentive.
• 🏛️ The discussion suggests that market mechanisms can change the character of goods and social practices, and it's crucial to consider where they should and shouldn't apply.
• 🌱 The script calls for public discourse on the value and meaning of social practices, emphasizing the need to reason together about what should not be subject to market forces.
• 👥 The erosion of commonality and the separation of affluent and modest means due to marketization can be detrimental to democracy and social cohesion.

Q & A

What is the main concern raised about the role of money and markets in our societies?

The main concern is that the increasing role of money and markets in various aspects of life is leading to a market society where almost everything is up for sale, potentially exacerbating inequality and altering the intrinsic values of social practices.

What is the difference between a market economy and a market society?

A market economy is a tool for organizing productive activity, whereas a market society is characterized by the dominance of market thinking and values in every aspect of life, including personal relations, family life, health, education, politics, and civic life.

Why does the script mention the example of prison cell upgrades in Santa Barbara, California?

The example illustrates how money can buy comfort even in a jail setting, highlighting the extent to which market principles have penetrated areas of life that were traditionally not for sale.

What is the concept of 'Fast Track' or VIP tickets in the context of amusement parks?

'Fast Track' or VIP tickets are a market solution that allows people to pay extra to avoid long lines for popular rides, exemplifying the commodification of convenience.

How does the script discuss the commodification of access to political processes?

The script mentions 'paid line standing' services for lobbyists and others who want to attend important Congressional hearings without waiting in line, showing how market mechanisms are used to bypass traditional queuing systems.

What is the concern about the impact of marketization on inequality?

The concern is that as more aspects of life become purchasable, the importance of affluence increases, leading to greater inequality and a sharpening of the social and civic consequences of economic disparities.

What is the debate about cash incentives for students in schools?

The debate revolves around whether offering cash incentives for good grades or reading books can motivate students, especially from disadvantaged backgrounds, and whether such incentives might undermine intrinsic motivation to learn.

What were the mixed results of cash incentives for good grades in schools?

The cash for good grades programs mostly did not result in higher grades, indicating that financial incentives may not be an effective way to improve academic performance.

What was the effect of offering two dollars for each book read by children in Dallas, Texas?

While the program led children to read more books, it also resulted in them reading shorter books, raising questions about the quality of engagement with reading.

How does the script suggest that market mechanisms can affect nonmaterial goods and social practices?

The script suggests that market mechanisms can change the character and meaning of nonmaterial goods and social practices, potentially undermining or crowding out nonmarket values and attitudes.

What is the broader societal question raised by the script about the role of markets?

The script raises the question of whether we want a society where everything is for sale or if there are certain moral and civic goods that should remain outside the market, reflecting on how we want to live together.