ABSTRACT
In Parts I to III we considered free market institutions from the perspectives of utilitarianism, deontological ethics (rights and justice) and virtue ethics. In this chapter we connect the three perspectives and develop an integrated view of free market operation. First, we compare the outcomes of Parts I to III and derive an integrated evaluation of free market institutions from a moral point of view. Second, we describe moral arguments pro and contra noxious markets. Third, we present a practical method and case study for applying ethics to concrete economic policies and will provide some heuristics to apply the different ethical theories of utilitarianism, duties, rights, justice, virtue and care ethics if these alternative theories point at different conclusions in concrete cases to determine the hierarchy between the various ethical standards.
