Aristocratic or Market Society

2045 Words9 Pages
A Market Society is Ethically better than an Aristocratic Society The concept of market society Scholars come up with several questions in the quest to evaluate what approaches should be taken to establish the relationship between the moral order and the market. For instance, different scholars have examined the set of moral orders upon which the concept of capitalism is based. This aspect in addition to a distinctive set of beliefs, social bonds, and habits stand out clearly in the market and various market structures. This paper shall begin by evaluation of how Hirschman characterised contradicting views concerning the market, which included civilisation, feeble effects on society, and destruction. The study shall also involve a review of various studies to bring an intersection of sociology, political economics, and economics itself in a bid to demonstrate how these subjects exist as theories of market society and moral ethics behind the same. In trying to justify the ethics behind market society as opposed to aristocratic society, this paper shall tackle the increasing prominence of moralised markets in economic sociology. While dealing with markets along this dimension, different markets stand out as moral projects and cultural phenomena in one way or another. Introduction In a bid to shed some light on the concept of market society and it ethics, different researchers have carried out several studies. Hirschman (1977) stipulated that most people perceived market to be the force behind civilisation. In the earlier centuries, through market relations, people socialised and maintained strong relations that barred them from fighting each other. However, as time lapsed, this idea changed and towards the lapse of the 19th century, the contrary took its shape. Economists such as Karl Marx came up to argue that capitalist society intended to undermine its morality
Open Document