through fostering an indefinitely-lived series of exchanges, free markets
create a future promoting integrity and trust. This is because the more the future matters, the better behaved are individuals in the present. Therefore, rather than being castigated, as they so often are in the popular media and political arena, for encouraging immorality, free markets should be praised for fostering integrity and cooperative behavior through their promotion of ongoing mutually beneficial exchange.
Pero no es verdad que los “popular media” ataquen a los mercados por promover la indecencia. Eso solo lo hacen con los mercados que no funcionan. Los mercados de los productos y servicios ordinarios (productos de gran consumo y servicios educativos, sanitarios, hostelería) no tienen mala fama. Funcionan bien. La gente se mete con los mercados que funcionan mal: los mercados políticos y los financieros y, si se quiere, la propiedad intelectual.
the prosperity created by free markets fosters a larger bounty from which to finance philanthropy. No country gives more than the United States. Charitable gifts totaled $304 billion in 2009—2.2 percent of GDP.6
While part of private individuals’ giving reflects lower taxes to fund government social-welfare programs, it is still striking the extent to which Americans are more inclined to give voluntarily at least some of their time and money than other nations’ citizens.
the caring at the heart of free markets is not sacrificial, it still involves an important form of caring that drives virtuous behavior. That is, in pursuing one’s interests, one fundamentally has to care about making one’s exchange partner at least as well off as she was prior to your arrival. If that important caring threshold toward one’s exchange partner isn’t met, the deal that promotes your own interests along the way will not get done
Y por qué la religión contribuye al comportamiento íntegro de los creyentesWhile time brings valuable opportunities for improvement for those who start at the bottom of the income ladder, maintaining relative income success is challenging for those who start at the top of the heap. According to Auten and Gee, fewer than half of those individuals in the top 1 percent income class in 1996 were still there in 2005.
With regards to religion, most of the world’s major sects feature the concept of an indefinite afterlife (Zupan 2010). The repeated play version of the prisoner’s dilemma indicates why such an afterlife promotes a religion’s precepts. The more that future payoffs matter, the more the temporal behavior of adherents will accord with a religion’s tenets (Telser 1980). The tenets of most of the world’s major religions, moreover, include integrity and other forms of cooperative behavior.