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The Moral Limits of Market-Based Mechanisms: An Application to the International Maritime Sector
This paper questions the dominance of market-based mechanisms (MBMs) as the primary means of climate change mitigation. It argues that, not only they are unsuccessful on their own terms, but also they actually make the task more difficult by the unintended consequence of normalising the act of pollu...
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Formato: | Online Artículo Texto |
Lenguaje: | English |
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Springer Netherlands
2022
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Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9490725/ https://www.ncbi.nlm.nih.gov/pubmed/36158524 http://dx.doi.org/10.1007/s10551-022-05256-1 |
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author | Monios, Jason |
author_facet | Monios, Jason |
author_sort | Monios, Jason |
collection | PubMed |
description | This paper questions the dominance of market-based mechanisms (MBMs) as the primary means of climate change mitigation. It argues that, not only they are unsuccessful on their own terms, but also they actually make the task more difficult by the unintended consequence of normalising the act of polluting and crowding out alternatives. The theoretical contribution of the paper is to draw a link between two bodies of literature. The first is the business ethics literature on the dominance of market-based rather than direct regulation, and the second is the literature on market ethics, particularly the work of Michael Sandel on how MBMs crowd out non-market norms. The empirical contribution is to use the international maritime transport sector to illustrate the way market-based regulation renders alternatives such as direct regulation and supply-side approaches invisible. |
format | Online Article Text |
id | pubmed-9490725 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2022 |
publisher | Springer Netherlands |
record_format | MEDLINE/PubMed |
spelling | pubmed-94907252022-09-21 The Moral Limits of Market-Based Mechanisms: An Application to the International Maritime Sector Monios, Jason J Bus Ethics Original Paper This paper questions the dominance of market-based mechanisms (MBMs) as the primary means of climate change mitigation. It argues that, not only they are unsuccessful on their own terms, but also they actually make the task more difficult by the unintended consequence of normalising the act of polluting and crowding out alternatives. The theoretical contribution of the paper is to draw a link between two bodies of literature. The first is the business ethics literature on the dominance of market-based rather than direct regulation, and the second is the literature on market ethics, particularly the work of Michael Sandel on how MBMs crowd out non-market norms. The empirical contribution is to use the international maritime transport sector to illustrate the way market-based regulation renders alternatives such as direct regulation and supply-side approaches invisible. Springer Netherlands 2022-09-21 /pmc/articles/PMC9490725/ /pubmed/36158524 http://dx.doi.org/10.1007/s10551-022-05256-1 Text en © The Author(s), under exclusive licence to Springer Nature B.V. 2022, Springer Nature or its licensor holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law. This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic. |
spellingShingle | Original Paper Monios, Jason The Moral Limits of Market-Based Mechanisms: An Application to the International Maritime Sector |
title | The Moral Limits of Market-Based Mechanisms: An Application to the International Maritime Sector |
title_full | The Moral Limits of Market-Based Mechanisms: An Application to the International Maritime Sector |
title_fullStr | The Moral Limits of Market-Based Mechanisms: An Application to the International Maritime Sector |
title_full_unstemmed | The Moral Limits of Market-Based Mechanisms: An Application to the International Maritime Sector |
title_short | The Moral Limits of Market-Based Mechanisms: An Application to the International Maritime Sector |
title_sort | moral limits of market-based mechanisms: an application to the international maritime sector |
topic | Original Paper |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9490725/ https://www.ncbi.nlm.nih.gov/pubmed/36158524 http://dx.doi.org/10.1007/s10551-022-05256-1 |
work_keys_str_mv | AT moniosjason themorallimitsofmarketbasedmechanismsanapplicationtotheinternationalmaritimesector AT moniosjason morallimitsofmarketbasedmechanismsanapplicationtotheinternationalmaritimesector |