Market values (in theory)
Markets are assumed to enhance efficiency of economic and social transactions, to facilitate information diffusion (greater transparency), and to guarantee a fair allocation of resources available according to the willingness and ability to pay.
•They best respect individual freedom (libertarian argument).
•They maximise social utility (utilitarian argument).

Moral limits of markets
Michael Sandel argues there are obvious moral limits to markets, because market thinking tends to corrupt the value and integrity of some goods once they are considered a commodity. This also means business practices should be limited to certain areas and be subjected to certain norms and expectations.

Market economy: a (valuable and effective) tool for organising productive activity
Market society: a way of life in which market values seep into every aspect of human endeavor,

Organising markets
The market system enables economic agents to exchange goods and services through the price system. The price system adjusts supply and demand, and arguably represents people’s preferences.

Limited market efficiency
Markets and price system don’t account for moral limits on what is being exchanged. This erodes nonmarket norms, and changes social and moral expectations.
Markets purport to allocate goods so as to maximise social welfare, under certain conditions – including pure competition. Yet, these conditions hardly ever occur: monopoly and oligopoly characterise most industries. This unequal distribution of power:
–Distorts supply/demand;
–Affects the size and scope of competition (and the industry);
–Allows to bend the legal environment in one’s favour;
–Increases lack of transparency and availability of information to other market agents;
–Contributes to shaping behavioural change and social