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Storr, Virgil Henry
Virgil Henry Storr is Associate Professor of Economics at George Mason University and the Don C. Lavoie Senior Fellow in the F.A. Hayek Program in Philosophy, Politics and Economics at the Mercatus Center.
Ginny Seung Choi is Associate Director of Academic & Student Programs; a Senior Fellow in the F.A. Hayek Program for Advanced Study in Philosophy, Politics and Economics; and a Senior Research Fellow at the Mercatus Center at George Mason University. Previously, she was an Assistant Professor of Economics at Saint Vincent College.
Do Markets Corrupt Our Morals?
The most damning criticism of markets is that they are morally corrupting. As we increasingly engage in market activity, the more likely we are to become selfish, corrupt, rapacious and debased. Even Adam Smith, who famously celebrated markets, believed that there were moral costs associated with life in market societies.