Today, almost everything seems to have a price tag. Whether it’s a gift, a service, or even an opportunity, the idea that money can buy anything has become deeply embedded in our society. Michael Sandel’s book What Money Can’t Buy interest me to explore this phenomenon, critically examining how market norms are encroaching on various aspects of life—and why that’s a cause for concern.
Sandel paints a picture of a society where market thinking has begun to dominate, not just in the realm of material goods but in every corner of life. He invites readers to reflect on whether we truly want to live in a world where everything is for sale. Should we aspire to a market economy that serves the public good, or are we sliding into a market society where everything, including our relationships and moral values, is up for grabs?
Sandel’s main argument is straightforward: when market values seep into areas of life that should be governed by ethics, relationships, or moral considerations, something essential is lost. He illustrates this with examples such as giving gift cards instead of personalized gifts, hiring someone to write a best man’s speech, or even paying children as an incentive to read. These actions, according to Sandel, undermine the intrinsic value of human connections, turning what should be acts of love and generosity into mere transactions.
Throughout the book, Sandel offers numerous examples of how market values have crept into various facets of life, from the selling of human organs to the privatization of public goods like healthcare and education. He shows how, over the past few decades, the global capitalist system has gradually made everything available for purchase: surrogate motherhood, the right to pollute, political influence, and even fundamental aspects of national heritage.
Sandel’s inquiry raises crucial questions: How much influence should markets have in public life and personal relationships? Where should we draw the line between what can be bought and what should remain governed by nonmarket values? We have to realize that these questions are not philosophical. They truly have real-world implications for how we live and interact with one another.
One of the most compelling sections for me is Sandel’s point on the difference between fines and fees. A fine, he explains, is meant as a punishment—something to discourage undesirable behavior, like parking illegally. On the other hand, a fee, is simply a price for a service. However, the distinction between the two can blur, especially for the wealthy. For instance, if a wealthy person views a $100 fine for parking in a restricted area as just the cost of parking wherever they want, the fine loses its power as a deterrent. Similarly, if a school imposes a fine on parents for picking up their children late, those who can afford it might simply treat it as a fee for the convenience of arriving whenever they please. This scenario highlights how market thinking can disproportionately benefit the wealthy, undermining fairness and equity in society.
Fines register moral disapproval, whereas fees are simply prices that imply no moral judgment.
Michael Sandel, What Money Can’t Buy
Sandel also challenges the assumption that willingness to pay is an accurate reflection of how much someone values something. He points out that those who can afford to pay the most for a ticket to a Shakespeare play may not necessarily value the experience more than those who can’t. This raises important questions about the effectiveness of market mechanisms in allocating resources and opportunities in a way that truly reflects societal values.
In What Money Can’t Buy, Sandel urges us to reconsider the role of markets in our lives. Do we really want to live in a society where everything has a price, or should some things remain beyond the reach of money? This thought-provoking book encourages readers to reflect on the moral limits of markets and to consider what kind of society we want to build for future generations.
What Money Can’t Buy is a crucial read for anyone interested in understanding the broader implications of living in a market-driven world. It’s asking us to think deeply about the values we hold dear and how they are being reshaped by the forces of the market. It reminds us that we must carefully consider the moral and ethical implications of expanding markets into every corner of our lives.
Summary
What Money Can’t Buy: A Thoughtful Exploration of Markets and Morality
In the last three decades, one of the most significant changes we’ve witnessed isn’t just an increase in greed—it’s the growing influence of markets in areas of life where they arguably don’t belong. In What Money Can’t Buy, we are invited to rethink the role markets play in our society and to consider the moral boundaries that should guide them. This book challenges us to ask a vital question: Are there things that money shouldn’t be able to buy?
Why Should We Care?
1. Inequality
In a world where almost everything is for sale, life becomes much harder for those with less money. The more things money can buy, the more significant the difference between those who have a lot and those who don’t. Wealth starts to determine not just luxury, but essential aspects of life, like political influence, quality healthcare, safe neighborhoods, and access to good schools. When money dictates access to these critical resources, the gap between the wealthy and everyone else becomes a chasm.
2. Corruption
Markets have a way of corrupting the things they touch. By putting a price on everything, we risk devaluing the very essence of what makes those things important. For example, paying children to read might get them to pick up more books, but it might also teach them to see reading as a chore rather than a pleasure or curiosity. The market can change how we value and perceive the goods it deals with, turning what should be intrinsic joys into mere transactions.
Deciding What Money Should—and Shouldn’t—Buy
When we decide to allow something to be bought and sold, we implicitly decide it’s okay to treat that thing as a commodity. But not everything is suited to be a product. The most glaring example is human beings—slavery treats people as property, ignoring their inherent dignity and worth.
Some of life’s greatest goods—health, education, family life, nature, art, and civic duties—lose their value when treated as commodities. To figure out where the market should step in and where it should stay out, we need to think carefully about the true value of these goods. These are not just economic questions; they’re moral and political ones. We must debate the meaning of these goods and how they should be valued.
Fines vs. Fees: Understanding the Difference
Fines are meant to express moral disapproval. When we fine someone for littering, we’re not just charging them for the mess—they’re being punished because littering is wrong and harms our community.
Fees, on the other hand, are simply prices for a service, without any moral judgment attached.
The distinction becomes critical when we consider situations like parking in spaces reserved for the disabled. If a wealthy contractor treats the fine for parking in such a space as just another fee, he misses the point entirely. The fine is there to uphold a moral standard—to respect the needs of the disabled and the community’s efforts to accommodate them. Confusing a fine with a fee reduces a moral issue to a simple transaction, which can erode the values that the fine is meant to protect.
The Intersection of Market and Moral Reasoning
Market reasoning often falls short when it ignores the moral implications of buying and selling certain goods. For example, should we allow the sale of the right to shoot endangered animals like rhinos? To answer that, we must first resolve the moral question of how we value these creatures. This isn’t just an economic issue—it’s a deeply contested moral one.
To truly understand the world, economists need to consider whether placing a price on an activity will undermine nonmarket values. This involves delving into moral psychology and anthropology, exploring how market incentives might displace existing norms and values.
The Question of What Money Can—and Should—Buy
One of the most challenging questions we face today is whether there are things that money can buy but shouldn’t. At first glance, it might seem clear-cut: some things, like friendship, clearly can’t be bought, while others, like organs, perhaps can be bought but shouldn’t be. However, the line between these categories is often blurrier than it seems. Upon closer inspection, we might find connections between cases where the monetary exchange spoils the
Author: Michael J. Sandel
Publication date: 24 April 2012
Number of pages: 256 pages
