A Quote by Michael Heseltine
The market has no morality
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We're always projecting our moral categories on things. I think that's inevitable. But capitalism places no particular value on morality. Morality in the market is enforced by contract and regulation and law, because morality is understood to be in conflict with the motive force of greed and accumulation.
where Nietzsche's response to the equation of socialism and morality was to question the value of morality, at least as it had been customarily understood, economists like Mises and Hayek pursued a different path, one Nietzsche would never have dared to take: they made the market the very expression of morality.
How can you construct a morality if there's no morality inherent in the way things are? You might be able to delude yourself into thinking you had 'created' a morality, but that's all it would be, an illusion.
Morality did not keep well; it required stable conditions; it was costly; it was subject to variations, and the market for it was uncertain.
To justify Christian morality because it provides a foundation of morality, instead of showing the necessity of Christian morality from the truth of Christianity, is a very dangerous inversion.
Remember that banks aren't markets. The market is amoral. The market doesn't care who you are. You're a trade to the market. The market will sell you if they think you're riskier.
There are those who believe that a new modernity demands a new morality. What they fail to consider is the harsh reality that there is no such thing as a new morality. There is only one morality . All else is immorality.
One of the great tragedies of mankind is that morality has been hijacked by religion. So now people assume that religion and morality have a necessary connection. But the basis of morality is really very simple and doesn't require religion at all.
Talking about morality can be offensive. Morality is a politically incorrect subject. Many people are genuinely offended if someone speaks of morality and family values. It is okay if you talk about your sexual fantasies and deviances. This is called "liberation". But you would be frowned at if you talk about morality in public. Then you'd be accused of trying to impose your values on others.
Those who believe that liberal democracy and the free market can be defended by the force of law and regulation alone, without an internalised sense of duty and morality, are tragically mistaken.
No individual anonymous participant can influence the prices and therefore you really can speculate in the market without paying attention to morality. That's one of the positive features of markets. That's why they function.
Over the past three decades, markets and market thinking have been reaching into spheres of life traditionally governed by non-market norms. As a result, we've drifted from having a market economy to becoming a market society.
Real morality is possible when the sanctions for morality are also tangible and real. Therefore, atheism shifts the basis of morality from faith in god to obligations of social living. Moral conduct is not a passport to heaven; it is social necessity.
An old market had stood there until I'd been about six years old, when the authorities had renamed it the Olde Market, destroyed it, and built a new market devoted to selling T-shirts and other objects with pictures of the old market. Meanwhile, the people who had operated the little stalls in the old market had gone elsewhere and set up a thing on the edge of town that was now called the New Market even though it was actually the old market.
Remember that banks aren't markets. The market is amoral. The market doesn't care who you are. You're a trade to the market. The market will sell you if they think you're riskier. Banks didn't do that
In short, what the living wage is really about is not living standards, or even economics, but morality. Its advocates are basically opposed to the idea that wages are a market price-determined by supply and demand, the same as the price of apples or coal. And it is for that reason, rather than the practical details, that the broader political movement of which the demand for a living wage is the leading edge is ultimately doomed to failure: For the amorality of the market economy is part of its essence, and cannot be legislated away.
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