Market and Morality

To what extent does the market exhibit moral and ethical behavior? Morality complements the positive effects of the market. The results of the market correspond only partially to our righteous ideas. In case of market failure, morality ensures that third parties are not harmed. Against this background, the social market economy is entering the market and changing the distribution results. Social morality is an important corrective factor in the market economy. If a market economy is to be an advantage for society, society must sanction immoral, damaging behavior through legal penalties or social exclusion. In addition, it must promote voluntary ethical behavior through the provision of values.