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Ethics, Efficiency and the Market Hardcover – June 28, 1985

ISBN-13: 978-0847673957 ISBN-10: 0847673952 Edition: 1ST

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Product Details

  • Series: Rowman & Allanheld Texts in Philosophy
  • Hardcover: 152 pages
  • Publisher: Rl Innactive Titles; 1ST edition (June 28, 1985)
  • Language: English
  • ISBN-10: 0847673952
  • ISBN-13: 978-0847673957
  • Product Dimensions: 9 x 6 x 1 inches
  • Shipping Weight: 1 pounds
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
  • Amazon Best Sellers Rank: #5,226,391 in Books (See Top 100 in Books)

Editorial Reviews


A clear and incisive review and critique of the widely scattered arguments, both economic and moral, which bear on the merits of markets . . . will be very useful for students in political philosophy and applied philosophy courses in which issues of distributive justice are considered. (Daniels, Norman)

Contains the most thorough and systematic analysis of economic and moral arguments both for and against the market as an instrument of resource allocation. It is a remarkable work, written to be accessible to the undergraduate, but argued with sufficient depth, originality and rigor to demand the attention of the professional philosopher and the economist concerned with the philosophical implications and foundations of his discipline. (Jules Coleman)

Buchanan offers a welcome dose of common sense and careful reasoning . . . a cogent demolition of several strong positions that are often asserted. (Hardin, Russell)

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Most Helpful Customer Reviews

1 of 1 people found the following review helpful By Honest Abe on June 1, 2011
Format: Paperback Verified Purchase
This is a book that every student of economics or political philosophy should read. Indeed, anyone with an opinion about capitalism, socialism, Marxism, etc. should read a copy of this book. It's concise. It's well-written. It's fair. It demolishes bad arguments for and against free markets.

This book considers all of the most important arguments for and against the free market, both on the grounds of efficiency and on the grounds of morality. It concludes with a chapter on arguments for and against market socialism. Buchanan's goal is to give an overview of each argument, pinpoint the assumptions behind the arguments, and review some of the most important challenges that have been put forth to the arguments. The reader will come away with a much greater understanding of the debate over markets as well as a good sense for where certain arguments may be further developed.

I've spent a lot of time thinking about the market on my own, and I was familiar with Adam Smith, Karl Marx, John Maynard Keynes, Friedrich Hayek, etc. before reading the book. This book still changed my thinking about quite a few aspects of the market. This is a great book.
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