Markets and Morals

Yew-Kwang Ng is Professor of Economics at the Nanyang Technological University, Singapore; emeritus professor, Monash University; fellow of the Academy of Social Sciences in Australia; and member of the Advisory Board, Global Priorities Institute, University of Oxford. In 2007, he received the highest award (Distinguished Fellow) of the Economic Society of Australia. He has also been invited to deliver the inaugural Professor Sir Tony Atkinson Memorial Lecture at Oxford University in 2018. He has 11.5 papers (joint papers counted fractionally) in the top five journals in economics, including one published when he was an undergraduate. He has also published more than thirty books and in more than 250 refereed journal papers in economics, biology, cosmology, informetrics, mathematics, philosophy, psychology, and sociology, including the American Economic Review, The Economic Journal, the Journal of Political Economy, and The Review of Economic Studies.

Preface; Acknowledgements; 1. Introduction; 2. The well-known case of lateness fees; 3. Extending economic analysis; 4. The anti-market sentiment; 5. The inequality/exploitation case against commodification is invalid; 6. Repugnance? Similar to 'honour' killing; 7. Crowding out or crowding in?; 8. Market expansion is a mark of progress; 9. The case for legalising kidney sales; 10. Making presumed consent the default option; 11. Blood donation; 12. Prostitution Yan Wang and Yew-Kwang Ng; 13. Conscription; 14. Profiteering; 15. Water: a typical case of under-pricing; 16. Fines, imprisonment, or whipping?; 17. Some specific areas; 18. Concluding remarks.