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The Moral Conditions of Economic Efficiency


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Preface and acknowledgements; 1. Introduction and synopsis; 2. A contextualized proof of the first fundamental theorem of welfare economics; 3. The moral thesis: moral normative constraints are necessary conditions of pareto-optimal equilibrium allocations of commodities achieved through market interaction; 4. A spontaneous order objection; 5. The roles of normative constraints in relation to externalities; 6. The moral conditions of economic efficiency; 7. Implications; Notes; Bibliography; Index.

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Schultz argues that markets are not moral-free zones, and that achieving the economic common good does indeed require morality.

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