Our romance with capitalism is a Faustian bargain, but two critiq:ues warn that giving free rein to markets comes at the cost of giving up a part of our soul
Martin Sandbu reviews:
What Money Can’t Buy: The Moral Limits of Markets, by Michael Sandel, Allen Lane /Farrar, Straus and Giroux
How Much is Enough? The Love of Money, and the Case for the Good Life, by Robert and Edward Skidelsky, Allen Lane
Opening paragraph:
The economic collapse that followed the credit boom has sometimes felt like a marital betrayal. Here was a system, and an economic philosophy to underpin it, that was supposed to make us happy. For a while it did.
Now, as financially pumped growth and ever-increasing house prices recede into memory, we realise what fools we were. Like the faithful spouse ignoring the warnings of friends, we wanted to believe in what, with the benefit of hindsight, could not be.
Read on here:
http://www.ft.com/intl/cms/s/2/faf752aa-9f92-11e1-a255-00144feabdc0.html#axzz1zf5AovbT
Value is the only commonality in an increasingly complex, challenging and interdependent world.