Pure markets enhance good behavior, because in such arrangements, voluntary acts are rewarded and involuntary acts are punished. A pure market, as we define it, consists only of voluntary human action. That’s because a truly free market includes governance structuresthat penalize coercive harm, and such pure markets do not impose any restrictions or costs on honest and peaceful human activity.Critics of markets think otherwise. They point to slave markets or a market for stolen goods as examples of market immorality.
Fred Foldvary. "Do Markets Promote Immoral Behavior?" The Freeman (2013): 14-16.
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This article was originally published in The Freeman Vol. 63, Iss. 7 by the Foundation for Economic Education on September 2013. The article is also available online at this link.
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