ABSTRACT
Market fundamentalism is a belief system according to which all kind of values can be reduced to market values and the free market is the only efficient mechanism that can provide rational allocation of resources. Both international politics and law as well as transnational civil society have a role to play in correcting the deficiencies of market fundamentalism. Since both market and alternative evaluation mechanisms are fallible the simultaneous application of them is needed in providing a fair and accurate picture about the value of economic activities. The underlying idea of responsible economizing is that responsibility implies choice. The responsible-decision-making model can provide new insights into some basic problems of economics and public policy. The quality of life can be preserved and enhanced if decision-makers pay equal attention to all the relevant value perspectives in the decision situation.
