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What is Ethics in Market Structures and Practices about?

This chapter discusses ethics in the marketplace. It outlines the moral arguments for free markets based on distributive justice, utility maximization, and economic liberty. However, these arguments depend on the assumption of perfect competition. Monopolies and oligopolies violate this assumption and are thus morally problematic as they result in artificially high prices, reduced efficiency, and infringed economic liberties. There are differing views on how to address oligopolies, ranging from doing nothin

Author

Tina Mariano Dy

Language

EN