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Does the Free Market Undermine Culture?

D. Eric Schansberg

Abstract


Economic analysis is often ignored or even deplored in todays culture. Some notable examples will follow below. But what is a better option? A more limited analysis can be an improvement only if analysis itself presents more problems than it helps to solve. And surely, the costs of limited analysis can be large. Unfortunately, good intentions and wishful thinking are not sufficient for determining either optimal personal decisions or public policy. Good analysis is, in fact, a prerequisite if we are to do better than throwing darts blindfolded. As Pascal argued, working hard to think clearly is the beginning of moral conduct.

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