Free Markets and Social Justice

While not meant to be an overarching "theory of justice" Cass Sunstein's book supplies many of the theoretical components any grand theory ought to include. In the broadest terms, this collection of articles argues that achieving social justice should be of greater importance than the purity of free markets. Markets, he argues, are themselves only possible through political guarantees of rights and the rule of law, and they should be subordinate to discussions of justice. Sunstein considers seven principles that clarify what is at stake in contemporary discussions of law and economics, often exposing unfounded assumptions of libertarians and free market devotees, yet never losing sight of the value of markets and the goods they procure. Insightful chapters on the formation of preferences, the diversity of human goods, the context dependence of choice, and the vexing problems of rationality blend the author's broad knowledge of contemporary philosophy, his command of legal history and philosophy, and a solid grasp of economic theory. Those looking for sound and challenging thinking on these topics have an excellent source in this volume.