JMC Hans Sennholz Lecture featuring Dr. Virgil Storr
Wed, November 17, 2021 6:00 PM at Club Spartan (Third Floor, Case Hall)
“Do Markets Corrupt our Morals?”
The most damning criticism of markets is that they are morally corrupting. As we increasingly engage in market activity, the more likely we are to become selfish, corrupt, rapacious and debased. Even Adam Smith, who famously celebrated markets, believed that there were moral costs associated with life in market societies.
This lecture explores whether or not engaging in market activities is morally corrupting. Storr demonstrates that people in market societies are wealthier, healthier, happier and better connected than those in societies where markets are more restricted. More provocatively, he explains that successful markets require and produce virtuous participants. Markets serve as moral spaces that both rely on and reward their participants for being virtuous. Rather than harming individuals morally, the market is an arena where individuals are encouraged to be their best moral selves.
Virgil Henry Storr is an Associate Professor of Economics in the Department of Economics, George Mason University and the Don C. Lavoie Senior Fellow in the F.A. Hayek Program in Philosophy, Politics and Economics, Mercatus Center, George Mason University.
Sponsored by the W. John & Mary Blyth Fund in Honor of Hans and Mary Sennholz
A reception with light refreshments and snacks will start at 5:30 pm. A livestream option is available to whose who wish to attend virtually. Follow one of the links below to register for either in-person or virtual attendance.