Two examples of the marketization of society today that Sandel discusses are cash for grades and pay for — getting around long lines What anything wrong with these practices

Marketization

Sandel states that the American society is facing marketization. He defines a market society as one that motivates all the desired behavior in almost every aspect of life with monetary rewards. Marketization could be defines as the introduction of aspects of competition to the public sector in spheres that were previously governed and controlled through direct public control. In broader terms marketization could be defined as an entire process of transformation of the economy to a market based system. Basically the problem with the two examples that have been provided by Sandel in his discussion is that the rewards are provided purely based on the monetary value rather than considering the entire work or rather input that has been provided by an individual. With a society that has transformed into a marketization economy, the labor is likely to offer their services for the monetary rewards that are associated with the job instead of being able to inject quality into the processes of an organization. The workforce shall be getting into action with the sole purpose of wanting to receive the cash incentive that comes with the efforts that they have injected into the production processes in the company. Basically I believe that this is the only wrong practice that comes with marketization as companies significantly engage in production without even considering some of the basic welfare of their workforce.

Additionally, I think that increased marketization of the American economy is likely to even widen the gap between the rich and the rest of us. This is likely to affect the social fabric because money shall be seen as being at the center of everything and lack of it probably means that some people might soon be sidelined from receiving some essential services which basically need money for them to be satisfied.