353 | Alvin Roth on the Economics of Morally Contested Markets (opens in new tab)

Economic markets are efficient ways of deciding fair prices, at least in ideal circumstances of perfect competition, information, and choice. But there is more to life than fair prices. Two people might decide on a fair price to carry out a contract killing, but society generally frowns on the idea. Many examples of morally contestable markets feature less consensus than that one: sex work, drugs, selling organs, adopting children. In his new book Moral Economics, economist Alvin Roth investi...