One Of The Appeals Of Markets, As

I Think The Reason We Might Hesitate To Pay Cash To Students For Doing Well On Tests Or Getting Good Grades Or Reading Books Is That We Sense That The Monetary Payment Is An Extrinsic Reward.

Parenthood Is A School For Humility. We Can't Choose The Precise Traits Of Our Children, And That Is Morally Important. It Teaches Us What William May, A Theologian Whom I Greatly Admire, Calls "an Openness To The Unbidden."

They Say The State Should Not Impose On Its Citizens A Preferred Way Of Life, But Should Leave Them As Free As Possible To Choose Their Own Values And Ends, Consistent With A Similar Liberty For Others.

If You Go Back To Adam Smith, You Find The Idea That Markets And Market Forces Operate As An Invisible Hand. This Is The Traditional Laissez-faire Market Idea. But Today, When Economics Is Increasingly Defined As The Science Of Incentive, It Becomes Clear That The Use Of Incentives Involves Quite Active Intervention, Either By An Economist Or A Policy Maker, In Using Financial Inducements To Motivate Behavior. In Fact, So Much Though That We Now Almost Take For Granted That Incentives Are Central To The Subject Of Economics.

A Market Economy Is A Tool - A Valuable And Effective Tool - For Organizing Productive Activity. A Market Society Is A Way Of Life In Which Market Values Seep Into Every Aspect Of Human Endeavour. It's A Place Where Social Relations Are Made Over In The Image Of The Market.