You have £2000, I have a kidney
Glen Newey: Morals and Markets, 21 June 2012
What Money Can’t Buy: The Moral Limits of Markets
by Michael Sandel.
Allen Lane, 244 pp., £20, April 2012,978 1 84614 471 4 Show More
by Michael Sandel.
Allen Lane, 244 pp., £20, April 2012,
How Much Is Enough?: The Love of Money and the Case for the Good Life
by Robert Skidelsky and Edward Skidelsky.
Allen Lane, 256 pp., £20, June 2012,978 1 84614 448 6 Show More
by Robert Skidelsky and Edward Skidelsky.
Allen Lane, 256 pp., £20, June 2012,
“... while you’d rather have my kidney than your money – possibly for resale to a third party at a mark-up. So we can swap to mutual advantage. In the jargon, the position we reach when I get the £2000 and you have my kidney is Pareto-optimal as regards the initial position: we have made someone (in fact, each of us) better off, while making nobody worse ... ”