Legitimating Market Egoism: The Availability Problem

Abstract

It is a common enough view that market agents are self-interested, not benevolent or altruistic – call this market egoism – and that this is morally defensible, even morally required. There are two styles of defence – utilitarian and deontological – and while they differ, they confront a common problem. This is the availability problem. The problem is that the more successful the moral justification of self-interested economic activity, the less there is for the justification to draw upon. Religious justifications of market egoism at least make a stab at dealing with the problem; secular accounts typically do not.