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The Impact Of Technology On Market Morals?

The Impact of Technology on Market Morals Perhaps the most persistent and lasting effect of capitalism is the implementation of market thinking within society. As Sandel states in his book What Money Can’t Buy, “the reach of markets, and market-oriented thinking, into aspects of life traditionally governed by non market norms is one of the most significant developments of our time” (7). Sandel’s main argument is the emptiness of morality within modern society, claiming people have become less ethical in that last thirty years due to market-driven society. However, his assertion of loosening morality does not take into account how technological advancement opens ethical perspective. Through inventions that challenges us to apply ethics to fields…show more content…
However, Sandel ignores this effect of technology when he asserts ethics as one of the most important reasons why certain things in life should not be commodities. Arguing “the uses of markets to allocate health, education, public safety, national security, criminal justice, environmental protections, recreation, procreation, and other social goods were for the most part unheard of thirty years ago”, Sandel points out that moral corruption is the reason of why people started to trade commodities that were not for sale thirty years ago (8). However, contrary to his opinion of contemporary people have become more morally deprived, the truth is some things were simply not offered thirty years ago due to the lack of scientific means. The evidences he mentions include the sales of quality-guaranteed eggs and sperms along with the employment of surrogate mothers from third world countries for assisted reproduction process (8). This sort of transactions did not exist; not because people back then were more ethical than us and refuse to take a part in the outsourcing reproduction process, but because of the lack of technology to do so. In this case, new application of science allows the market to expand its products. Newly invented fields such as genetic control should not subject to moral standards from thirty years ago, since we only just began to adjust our ethics as a response to these…show more content…
Why should the reader care about the impact of technology on market morals? Rising prevalence of technological products raises a concern for the increasing power of technological corporations such as Google. It affects our life especially when the intensifying competition drives corporations to gain comparative advantage over their rivals by spying on their users. Although internet is still a relatively new field, internet-based companies have already experienced countless lawsuits regarding the intrusion of privacy. As consumers, our growing dependence on technology allows these corporations to know and control every move we take. The section about collecting users’ data under Google’s terms of service exemplifies privacy invasion, but the most alarming part is that we do not care about it for most of the times. We regard privacy less important than the technology we are able to use by simply agreeing to give the data away. It is time we ask ourselves whether technology companies have gone too far in their reach of market domination and whether it “reduce the capacity of democracy to respond to citizens’ concerns” (Reich

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