March 15, 2012
…without quite realizing it—without ever deciding to do so—we drifted from having a market economy to being a market society.
The difference is this: A market economy is a tool—a valuable and effective tool—for organizing productive activity. A market society is a way of life in which market values seep into every aspect of human endeavor. It’s a place where social relations are made over in the image of the market.