Do you think this policy is appropriate in all situations

Reference no: EM13181318

Most religions argue that individuals should not fully exploit market positions by charging individuals the maximum amount they are willing to pay. However, according to the text, the best policy to follow seems to be to allow prices to rise to the level that achieves equilibrium and clears the market. Based on this policy, if a person was stranded in the desert, it would be appropriate to charge him/her half his/her future income for life for a drink of water if that is the price he/she is willing to pay.

A. Do you think this policy is appropriate in all situations? Why or why not?
B. Would a society that emphasized markets to produce goods and services benefit by a moral framework that promotes consideration of others rather than self-interest? Why or why not? (Consider whether it is in one's self-interest to be considerate of others.)

Reference no: EM13181318

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