On The Proper Use Of Markets

One of the fundamental differences between (traditionally) Republican principles and Democratic principles is the superiority of "the market." Republicans have generally been in favor of using the market to allocate any and all resources, while Democrats have asserted that there are some things that should not be valued by price in markets, but have intrinsic, external value superior to that which would be assigned by a market.

In this video, Michael Sandel does an excellent job explaining and summarizing this point.



Well worth a watch.

(With a tip-o-the-hat to the "Ex-Nortel Employees" LinkedIn Group.)