ABSTRACT

In this chapter we review empirical research into the relationship between markets, rights and justice. First, we consider the relationship between free market institutions and respect of negative rights and capitalist justice. Second, we consider the relationship between free market institutions and positive rights. In the third and fourth sections, we deal with the question of whether economic freedom increases income inequality within countries and between countries. In the last section we consider the effects of income inequality on trust and happiness, which is important for the evaluation of free markets from a utilitarian point of view.