ABSTRACT
This chapter deals with the effects of morally motivated behavior on market outcomes. It argues that neither of the two sides does justice to the profoundly ambivalent consequences of morality on markets. The debate on the relationship of morality and markets can be traced back to the very beginnings of economic thinking. The chapter also argues that the role of morality for market outcomes is deeply ambivalent. Group solidarity differs from "cooperation" by drawing a boundary between those actors covered by the moral obligations and those not covered by these obligations. Blocked exchanges prevent the market exchange of certain goods and services by keeping them outside the market realm. Altruism is defined by a voluntary self-commitment to behavior based on value that inflicts costs on oneself for the benefit of others. The suspicion of Trojan altruism also plays a role in current political discourse about standards of social and environmental accountability in global production systems.
