Today,
betting on the lives of strangers is no longer an isolated parlour
game but a major industry.
Following
the devastation wrought by Typhoon Haiyan in The Philippines and the
increasing likelihood of further such catastrophic storms, will the
peddlers in the death-prediction industry, known as futures, now
turn their attentions to such events as a further instance of the
intrusion of market-orientated thinking into public life?
When
markets in death become familiar and routine, the moral opprobrium is
not easy to retain.
There
already exists a huge international market in financial products
based on predicting - and hoping for - the death of individuals.
Insurance, as we experience it, began in the London Coffee house
Lloyds when wealthy ship owners sought to cover their risks, but then
also sought to make money by gambling on the likely success of a ship
returning to port.
As
today's massive market in life and death attests, the hard-fought
efforts to disentangle insurance from gambling has come undone.
The
counter-impulse among people is the solidarity that is evoked by
cataclysms such as Typhoon Haiyan.
Altruism,
generosity and civic spirit are not like commodities that are
depleted with use. They are more like muscles that develop and grow
stronger with exercise.
The
increasing penetration of market-orientated thinking and practice
into our daily lives is unfair and corrupt. It requires opposition,
in order to avoid further public costs in the pursuit of private
profit.
One
of the defects of a market-driven society is that it lets these
virtues languish. To renew our public life we need to exercise them
more strenuously.
As
often is the case, Shakespeare had a metaphorical handle on this
threat some time ago.
I have seen
tempests, when the scolding winds
Have rived the
knotty oaks, and I have seen
The ambitious
ocean swell and rage and foam,
To be exalted
with the threatening clouds:
But never till
to-night, never till now,
Did I go through
a tempest dropping fire.
Either there is a
civil strife in heaven,
Or else the
world, too saucy with the gods,
Incenses them to
send destruction.
The
destruction is sent to our social life. The civil strife is caused by
an overpowering market-orientated and financial discourse that sells
itself as neutral, while it is traducing public morals and damning
citizens to poverty and death.
While
gambling on their deaths.
What
Money Can't Buy - The Moral Limits of Markets:
Michael Sandel; book; Allen Lane; London; 2012
Julius
Caesar:
William Shakespeare; play; London; 1599
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