Answer the following questions in two separate essays. 1. Explain what Karl Polanyi means when he argues that "a market

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Answer The Following Questions In Two Separate Essays 1 Explain What Karl Polanyi Means When He Argues That A Market 1 (591.44 KiB) Viewed 139 times

Answer the following questions in two separate essays. 1. Explain what Karl Polanyi means when he argues that "a market economy can exist only in a market society." (Note that this statement constitutes an important element of his criticism of market liberalism.) In your answer make sure to answer the following, among other things: Polanyi's definition of a market economy, his analysis of the assumptions contained in the idea of a market economy, why according to him certain things are fictitious commodities, how the functioning of a market economy depends on the commodity fiction, what it is about a market economy that makes it necessary that it exist in a market society, and whether it is a good or bad thing and why. (15 points) 2. Explain two criticisms Michael Sandel makes of the dominance of money in a market society and discuss whether you agree with him or not. (You may want to watch his video lecture again.) As you answer this question, keep in mind that both Sandel and Michael Walzer think that inequality in general is not the main obstacle for attaining distributive justice but rather a certain type of inequality, namely, the kind that pertains to the possession of a dominant good. So in your answer make sure to explain, among other things, what "dominan and "complex equality" mean according to Walzer and how Sandel defines "market society." (10 points) Your answers must be typed in double-spaced in 12 point, Times New Roman font, with standard one-inch margins. The minimum word counts for your answers to these questions are 600 words and 300 words, respectively. Once again, these are the minimums, which by themselves do not guarantee a satisfactory answer. You must submit BOTH your answers in a SINGLE word or pdf document to the relevant submission folder on D2L by midnight Sunday, 5/29. Note that in the formulation of the questions I mention the things that I want you to address in your answers. I know this is stating the obvious, but believe me, it needs to emphasized: take those things seriously and make sure to discuss them in your answers! I'll surely be looking for those things in your answers. I also think that those lists, especially the one I provide in the first question, will help you in organizing your essays.