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Monday, July 23, 2012

Harvard professor Michael Sandel examines ‘moral limits of markets’ in new book (in The Toronto Star)

"Couples can hire an Indian surrogate mother for $6,250. Or they can invest that money in the American insurance industry, where betting on the death of strangers is a $30-billion business. Investors receive higher returns the sooner the stranger dies — a morbid spin on the adage that time is money.

"Hunters can head to South Africa to kill an endangered black rhino provided they’re willing to pay $150,000 for the privilege. Or they can stay in Canada to kill a walrus for less than $10,000. Add a caribou, musk ox and polar bear and you’ll hit what hunting groups call the “Arctic grand slam.”

"If it’s citizenship you’re after, $500,000 buys the right to immigrate to the United States. Many countries have similar policies, including Canada, though the price is higher here.

"Even in prison, money matters. In some cities, prisoners can upgrade their cells with a nightly fee.

"These are the sort of unsettling examples in Michael Sandel’s new book, What Money Can’t Buy: The Moral Limits of Markets."

Full article: Harvard professor Michael Sandel examines ‘moral limits of markets’ in new book.