Résumé
Scholars and civil society have argued that competition erodes supplier morality. This paper establishes a robust irrelevance result, whereby intense market competition does not crowd out consequentialist ethics; it thereby issues a strong warning against the wholesale moral condemnation of markets and procompetitive institutions. Intense competition, while not altering the behavior of profitable suppliers, may, however, reduce the standards of highly ethical suppliers or not-for-profits, raising the potential need to protect the latter in the marketplace.
Mots-clés
Competition; consequentialism; replacement logic, non-profits; corporate social responsability; race to the ethical bottom;
Codes JEL
- D21: Firm Behavior: Theory
- D43: Oligopoly and Other Forms of Market Imperfection
- D6: Welfare Economics
- I11: Analysis of Health Care Markets
- L21: Business Objectives of the Firm
Référence
Mathias Dewatripont et Jean Tirole, « The Morality of Markets », Journal of Political Economy, vol. 132, n° 8, 2024, p. 2655–2694.
Voir aussi
Publié dans
Journal of Political Economy, vol. 132, n° 8, 2024, p. 2655–2694