chapter  9
6 Pages

Conclusion and Policy Implications

ByCarl David Mildenberger

This chapter offers a conclusion on the conditions a market exchange needs to fulfill to be considered just from a liberal background and in light of the new harms. It highlights that, as the consequentialist challenge can be overcome, there are surprisingly little policy implications in the domain of commutative justice. The exchanges are alright. Thus, if we want to tackle issues like global warming or global economic injustice, we should not blindly follow the intuition that we best restrain and regulate markets. To some extent, this route is normatively blocked. For practical reasons, to interfere with market exchanges which are not unjust – and thus to accept some commutative injustice – might sometimes be the best option we have. But we should be very clear in communicating that it is not the market which is to blame. However, one important policy implication of this is that we should more often dare to rely on indirect approaches of exercising political control over the market, rather than on direct approaches like taxes, minimum wages, price ceilings, and so forth.