Michael Sandel: From market economy to market society

The video explores the moral dilemma of the role of money and markets in society. It discusses how market values have permeated various aspects of life, transforming a market economy into a market society. Examples include prison cell upgrades, incentives for sterilization, and advertising on foreheads. The video also examines the commodification of social practices, such as friendship and wedding toasts, and the implications of product placement in literature. It questions the impact of market mechanisms on the value and meaning of goods and social practices.

What unusual service can be purchased in Santa Barbara, CA, according to the video?

• A private beach access

• A luxury hotel room

• A personal chef

• A prison cell upgrade

What incentive is offered to drug-addicted women by a charity mentioned in the video?

• $500 cash incentive

• Free rehabilitation

• Housing support

• $300 cash incentive

What is the main difference between a market economy and a market society as discussed in the video?

• A market society has fewer regulations

• A market economy is more profitable

• A market society values everything as a commodity

• A market economy is less efficient

What was the hourly rate offered to students for forehead advertising?

• £6.00

• £4.20

• £5.00

• £3.50

Why is it philosophically challenging to buy friendship?

• Friendship is too expensive

• Money cannot create genuine emotional bonds

• Friendship is a legal contract

• Money can only buy temporary companionship

What is the potential downside of buying a wedding toast online?

• It could be too humorous

• It may not be delivered on time

• It could lack personal authenticity

• It might be too expensive

What is the cost of a custom wedding toast from the website mentioned in the video?

• $100

• $149

• $250

• $200

What was the title of the novel that included paid product placement for Bulgari?

• The Diamond Contract

• The Luxury Deal

• The Jewelry Affair

• The Bulgari Connection

What is the potential future of reading with digital ads as discussed in the video?

• Books will become free

• Books will have more pages

• Reading will be interrupted by ads

• Reading will be ad-free

What is the price difference between the standard Kindle and the ad-supported version?

• $30

• $50

• $20

• $40