SOSC 1000 Chapter 4-5: Heilbroner group readings 71-118 Week 5

• School: York University
• Department: Social Science
• Course: SOSC 1000
• Professor: Judith Adler Hellman

Document Summary

According to what heilbroner illustrated in his book, the market system is the principal means of binding and coordinating the whole, but markets are not the source of capitalism"s energies nor of its distinctive bifurcation of authority. (heilbroner, p. 74). He also mentioned markets are the conduits through which the energies of the system flow, and the mechanism by which the private realm can organize its tasks without the direct intervention of public realm (heilbroner, p74). The market system is visible in the form of corporate maneuver or garish advertising. The paradox of market is not that they bring order out of a universe of individuals seeking only to augment their fortunes , but they work only in such a universe. (heilbroner, p76) There is always a moral vulnerability to the micro-order that the market produces. There is also a problem with respect to the macro-order that emerges from market considerations. (heilbroner, p86).