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Inventing the MarketSmith, Hegel, and Political Theory$
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Lisa Herzog

Print publication date: 2013

Print ISBN-13: 9780199674176

Published to Oxford Scholarship Online: May 2013

DOI: 10.1093/acprof:oso/9780199674176.001.0001

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Justice in the Market

Justice in the Market

(p.84) 5 Justice in the Market
Inventing the Market

Lisa Herzog

Oxford University Press

This chapter deals with questions of inequality and desert in the market. First, it discusses on what conditions it makes sense to apply certain notions of desert to labour markets. It then turns to questions of poverty and social exclusion. While Smith and Hegel both hold that markets can help to eliminate discrimination, Smith thinks that markets lead to more equality and mutual recognition in the long run, whereas for Hegel they do the opposite, and political measures are required address the inequalities created by the free market. In conclusion, the relation between these two aspects of social justice, which concerns in particular the non-material dimensions of poverty, is discusses. It is argued that rather than focussing only on surrounding institutions, markets themselves also need to be made an issue in discussions about social justice

Keywords:   social justice, desert, labour market, inequality, discrimination, poverty

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