A clear and incisive review and critique of the widely scattered arguments, both economic and moral, which bear on the merits of markets . . . will be very useful for students in political philosophy and applied philosophy courses in which issues of distributive justice are considered.

Norman Daniels, Tufts University

Contains the most thorough and systematic analysis of economic and moral arguments both for and against the market as an instrument of resource allocation. It is a remarkable work, written to be accessible to the undergraduate, but argued with sufficient depth, originality and rigor to demand the attention of the professional philosopher and the economist concerned with the philosophical implications and foundations of his discipline.

Jules Coleman, University of Arizona

Buchanan offers a welcome dose of common sense and careful reasoning . . . a cogent demolition of several strong positions that are often asserted.

Russell Hardin, University of Chicago