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Morality and Markets, Dr. Ginny Choi, St. Vincent College

Date: Thursday, November 9th, 2017

Time: 4:00 pm

Duration: 1 hour

Location: Richardson, MI 113,
Morse-Ingersoll Hall,
700 College St, Beloit, WI 53511

Contact: Laura Grube, grubel@beloit.edu

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Dr. Ginny Choi is an Assistant Professor of Economics in the Alex G. McKenna School of Business, Economics and Government at Saint Vincent College and the Co-Director of the Economic Education Series at the Center for Political and Economic Thought. Dr. Choi is an experimental economist. From her chapter with Virgil Henry Storr, Ph.D., "Critics of markets have often asserted that markets undermine morality and that market dealings are unfair and corrupting. In their perspective, the expansion of the market and market values taint the nature of the goods being exchanged and the relationships between the parties to the deal.[We] argue that the market is a social arena where individuals not only pursue their material goals but also exercise their moral selves; after all, meaningful social bonds characterized by trust and trustworthiness can and do develop in market settings. The market depends on and promotes trust and trustworthiness as well as fairness and reciprocity and these values, as suggested by experimental economic evidence, play important roles in successful market exchanges." ("Can trust, reciprocity, and friendships survive contact with the market?" in J.A. Baker and M. D. White's (eds) Economics and Virtues: Building a New Moral Foundation. Oxford: Oxford University Press, 217-235. Forthcoming) For more on experimental economics, see http://www.econlib.org/library/Enc/ExperimentalEconomics.html

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