Exit, Voice and Values in Economic Institutions

Economics and Philosophy 13 (1):87-100 (1997)


Are there worthwhile values and ideals which flourish in the procedures of the state but wither in the transactions of the market? Are there equitable and fulfilling social relationships which are nurtured in the economic sphere but crumble in the political world? There is clearly some truth in the claim that at least in certain circumstances market systems inculcate in people not only ‘honesty and diligence, but also sensitivity to the needs and preferences of others’ . On the other hand, it is difficult to deny the appeal of a tradition of thought which attaches moral superiority to the non-market ideals and values epitomised in the gift relationship. Titmuss , for example, objected to treating blood as a commodity in part because it undermined the sense of fraternity or community which a system of voluntary blood donors enhanced. A contemporary statement of this position holds that gift values differ from commodity values in being ‘tokens of love, admiration, respect, honor, and so forth, and consequently lose their value when they are provided for merely self-interested reasons’

Download options


    Upload a copy of this work     Papers currently archived: 72,805

External links

Setup an account with your affiliations in order to access resources via your University's proxy server

Through your library


Added to PP

13 (#776,043)

6 months
1 (#386,499)

Historical graph of downloads
How can I increase my downloads?

Author's Profile

Graham Dawson
University of Buckingham

References found in this work

The Ethical Limitations of the Market.Elizabeth Anderson - 1990 - Economics and Philosophy 6 (2):179.
The Moral Foundations of Market Institutions.John Gray - 1992 - Integra: The Association for Integrative.

Add more references

Citations of this work

No citations found.

Add more citations

Similar books and articles

Exit, Voice, and Ethics.Michael Keeley & Jill W. Graham - 1991 - Journal of Business Ethics 10 (5):349 - 355.
Economic Ethics and Institutional Change.Antonio Argandoña - 2004 - Journal of Business Ethics 53 (1-2):191-201.
Economic Values in the Configuration of Science.Wenceslao J. González - 2008 - Poznan Studies in the Philosophy of the Sciences and the Humanities 96 (1):85-112.
Exit, Loyalty, and Voice.Edwin Hartman - 1996 - The Ruffin Series in Business Ethics:169-170.
A Pragmatic View on Values in Economics.Arjo Klamer - 2003 - Journal of Economic Methodology 10 (2):191-212.
"Homo Economicus", Political Economy and Socialism.Euclid Tsakalotos - 2004 - Science and Society 68 (2):137 - 160.