ABSTRACT

A market economy is the economy in which most people and the quasi-unanimity of academic economists – not only the academic ones – believe to belong to. Consequently, we tend to interpret our economic actions (and also a lot of others) by referring to moral values ordinarily attached to the market: individuals are free to decide what they do; they are thus responsible for their actions and should accept all their possible consequences: wealth or poverty, success or failure. Since we are mutually linked by exchange relations, we have just to accept and respect the corresponding ethic: self-enforcement of contracts, respect of property rights, individual as the highest moral value (individual utilities should not be compared), etc.