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Volenti goes to market

Goodin, Robert

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If free markets consist in nothing more than "capitalist acts between consenting adults" and if in the old legal maxim "volenti non fit injuria" then it seems to follow that free markets do no wrongs. But that defense of free markets wrenches the "volenti" maxim out of context. In common law adjudication of disputes between two parties it is perfectly appropriate to cast standards of "volenti" narrowly and largely ignore "duress via third parties" (wrongs done to or by others who are not...[Show more]

dc.contributor.authorGoodin, Robert
dc.date.accessioned2015-12-07T22:47:38Z
dc.identifier.issn1382-4554
dc.identifier.urihttp://hdl.handle.net/1885/26145
dc.description.abstractIf free markets consist in nothing more than "capitalist acts between consenting adults" and if in the old legal maxim "volenti non fit injuria" then it seems to follow that free markets do no wrongs. But that defense of free markets wrenches the "volenti" maxim out of context. In common law adjudication of disputes between two parties it is perfectly appropriate to cast standards of "volenti" narrowly and largely ignore "duress via third parties" (wrongs done to or by others who are not themselves party to the action). In economic markets of course those third-party effects are rife. But we want them to be rectified systematically not piecemeal through particular cases between particular parties that happen to come to court. That is the proper province of political philosophers and system-designers in critiquing and constraining the operation of the market.
dc.publisherKluwer Academic Publishers
dc.sourceJournal of Ethics, The
dc.subjectKeywords: Consent; Duress; Joel Feinberg; Markets; Robert Nozick; Third parties; Volenti
dc.titleVolenti goes to market
dc.typeJournal article
local.description.notesImported from ARIES
local.identifier.citationvolume10
dc.date.issued2006
local.identifier.absfor160609 - Political Theory and Political Philosophy
local.identifier.absfor220319 - Social Philosophy
local.identifier.ariespublicationu8908663xPUB42
local.type.statusPublished Version
local.contributor.affiliationGoodin, Robert, College of Arts and Social Sciences, ANU
local.description.embargo2037-12-31
local.bibliographicCitation.issue1-2
local.bibliographicCitation.startpage53
local.bibliographicCitation.lastpage74
local.identifier.doi10.1007/s10892-005-4593-7
dc.date.updated2015-12-07T11:52:55Z
local.identifier.scopusID2-s2.0-33747077146
CollectionsANU Research Publications

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