A market economy is a tool - a valuable and effective tool - for organizing productive activity. A market society is a way of life in which market values seep into every aspect of human endeavour. It's a place where social relations are made over in the image of the market.
Michael SandelIf you go back to Adam Smith, you find the idea that markets and market forces operate as an invisible hand. This is the traditional laissez-faire market idea. But today, when economics is increasingly defined as the science of incentive, it becomes clear that the use of incentives involves quite active intervention, either by an economist or a policy maker, in using financial inducements to motivate behavior. In fact, so much though that we now almost take for granted that incentives are central to the subject of economics.
Michael SandelA better way to mutual respect is to engage directly with the moral convictions citizens bring to public life, rather than to require that people leave their deepest moral convictions outside politics before they enter.
Michael SandelIt is true that the Jewish tradition emphasizes the moral mandate to save life. It also has a different position from the Catholic Church on the moral status of the embryo. It has a more developmental view of when human life, in the sense of personhood, begins than does the Catholic Church.
Michael Sandel